Marubeni, PTT Plan LNG Bunkering in Thailand
Marubeni Corporation started a joint feasibility study with PTT Public Company Limited, Thailand`s national petroleum and petrochemical company, which aims at implementing LNG refueling to ships in Laem Chabang Port, the largest industrial port in Thailand. The regulation of exhaust gas will be tightened from 2020, and since LNG is an environmentally friendly fuel, ships that use LNG for fuel (LNG fueled ships) are expected to increase. In Laem Chabang Port, where more than 8…
Qatargas Delivers First Q-Max Cargo to Thailand
Qatargas delivered the first Q-Max cargo of Liquefied Natural Gas (LNG) under the long-term Sale and Purchase Agreement (SPA) between Qatar Liquefied Gas Company Limited - 3 (Qatargas 3) and PTT Public Company Limited to the Kingdom of Thailand’s Map Ta Phut LNG receiving terminal. The cargo arrived on board the Q-Max LNG vessel, Bu Samra, on 5th August. This is the first Q-Max vessel to arrive at Map Ta Phut terminal since the startup of the terminal in 2011, when Qatargas delivered the first commissioning cargo to Thailand’s first LNG receiving terminal Map Ta Phut.
ITF Signs Up Thailand’s PTTEP
ITF, the oil and gas industry technology facilitator announced a new membership agreement with Thailand’s national oil company, PTT Exploration & Production Public Company Limited (PTTEP). ITF plans to secure a $9 million investment from its members across the Asia-Pacific region to launch ground-breaking technologies. The organization will also bolster its team by creating a business development position, which will be based at its Kuala Lumpur office to further strengthen its presence across the region.
GOGL Acquires New Vessel
Norway based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of the second vessel, Sea Monterrey (to be renamed Golden Monterrey). On October 16, 2017 GOGL announced that it has entered into agreements to acquire two modern Capesize vessels from affiliates of Hemen Holding Limited, a company indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family (Hemen), the Company's largest shareholder, at a purchase price of USD 43.0 million per vessel. The first vessel, Golden Behike, was delivered in November 2017.
Oil Spill Threatens Gulf of Thailand Beaches
An oil spill in the Gulf of Thailand caused by a pipe leak at an offshore platform raises concern about possible adverse impacts on the environment. More than 70 tonnes of crude oil have spilled into the sea following a leak in a crude-oil pipe at an offshore platform operated by PTT Global Chemical, a subsidiary of Thailand's national petroleum company PTT, reports ANN. Citing a statement by PTT Global Chemical, ANN informs that the leak of a crude transport pipe with a 16-inch diameter took place shortly before 7am [Saturday] from a single-point mooring…
G E Shipping Sells Supramax
India’s largest private sector shipping company Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2003 built Supramax Dry Bulk Carrier Jag Rahul of about 52,364 dwt. G E Shipping said that the vessel will be delivered to the new buyer in Q4 FY 2017-18. The Company’s current fleet (including Jag Rahul) stands at 48 vessels, comprising 32 tankers (12crude carriers, 17 product tankers, 3 LPG carrier) and 16 dry bulk carriers (1 Capesize, 8 Kamsarmax, 7 Supramax) with an average age of 10.24 years aggregating 3.93 mn dwt.
Global Firms Compete for Awali Oilfield Contract
Eleven international oil firms have expressed an interest in efforts to boost production at Bahrain's onshore Awali field, the Oil and Gas Affairs Minister revealed recently. Dr. Abdulhussain Mirza’s statement followed the announcement that US firm Occidental and Thailand's PTT Exploration and Production have been awarded the right to explore for oil and gas off the shores of the country. Some reports have suggested that new technologies could double the amount of oil produced at the field from its current level of 35,000 barrels per day. Bids are expected by the end of the month. The latest round of bidding comes on the heels of the recently concluded tender process for four offshore exploration blocks comprising Bahrain's entire explorable acreage.
Diana Shipping Wins TC Contract from Ausca
Diana Shipping , a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione. The gross charter rate is US$10,350 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to about 17 months. The charter is expected to commence on January 23, 2018.
Foss Names Sumner CFO
Bryceon Sumner has joined Foss Maritime as chief financial officer, hired to oversee all aspects of the organization's financial function and performance. Sumner brings to the role years of experience gained at a number of organizations ranging from education technology and real estate, to architecture and financial services. Prior to joining Foss, Sumner served as COO and CFO for public and private companies, family offices and as a senior financial officer of a $60 billion government banking insurance fund.
Mitsui to Extend Thai Offshore Oil Field Pact
Japanese trading house Mitsui & Co. (8031.TO) said that a subsidiary, Mitsui Oil Exploration Co., has agreed to extend for 10 years the contract on its rights and interests in offshore oil and gas blocks in Thailand, according to a Dow Jones report. The Tokyo-based company said the unit, Chevron Corp. (CVX) and PTT Exploration & Production PCL (PTTEP.TH) have reached an agreement extending the accord, which was due to expire in April 2012, to April 2022. [Source: Dow Jones]
Cambridge Consultants Completes Iridium Radio System Trials
Cambridge Consultants completes new trials on Iridium-based global push-to-talk radio system; Successful trials of new components of US Department of Defense Distributed Tactical Communications System. Cambridge Consultants, a technology design and development firm, today announced it successfully completed initial trials with Iridium Communications Inc. (Nasdaq: IRDM) of new key components of the world’s largest push-to-talk (PTT) radio system – the US Department of Defense (DoD) Distributed Tactical Communications System (DTCS). DTCS enables soldiers in isolated areas to communicate without the need for ground infrastructure – and in locations where they often can’t pick up a geostationary satellite’s signal unless they move to higher ground.
Thai Resort Owners Sue State Owned Company for Oil Spill
Business owners on Koh Samet island are suing a state-owned petroleum enterprise for the oil spill that polluted the resort island's beaches last year. More than 50,000 litres of crude oil leaked from pipeline operated by PTT Global Chemical in July 2013 and blackened several beaches on Koh Samet island, reports Khaosod English. Pitsanu Khemaphan, president of the Restaurant and Hotel Association on Koh Samet, arrived at Rayong Provincial Court with his lawyer to file a lawsuit against PTT Global Chemical for the incident, demanding 300 million baht (US$9.4 million) in compensation.
Thailand Ups Long-term LNG Imports Due to Coal Plant Delays
Thailand is increasing its planned long-term imports of liquefied natural gas (LNG) to meet rising demand after delays to the construction of coal-fired power plants, a senior official at energy ministry said on Wednesday. Energy policy makers have revised their target of LNG imports to 17.4 million tonnes in 2022 and reaching 34 million tonnes a year by 2036, up from earlier planned 23 million tonnes, Twarath Sutabutr, Director-General of the ministry's Energy Policy and Planning Office, told a news conference. "Natural gas supplies in the Gulf of Thailand will drop in the future. Thailand needs to accelerate LNG imports," Twarath said, adding the plan was subject to final approval from the national energy policy committee next month.
Gulf Navigation Refinances Two Carriers
Gulf Navigation Holding PJSC has announced refinancing 'Gulf Mishref' and 'Gulf Mirdif' petrochemical carriers in less than a month after increasing its capital to AED 1 billion through an Initial Public Offering (IPO). The move underlines the increasing demand for the company’s shipping services, which requires increasing its fleet capacity to meet the demand for its services in the region. Refinancing the two carriers, Gulf Mishref and Gulf Mirdif, is an important addition to the company's petrochemical transportation capabilities.
Ocean Tankers Purchases Fourth Ship
Ocean Tankers Holdings Public Company Limited has increased its fleet to four ships with the delivery of tanker M/T Montauk. M/T Montauk has been renamed to M/T Kalia and has already hoisted the Cypriot flag. The Company has already chartered the ship for two consecutive voyages and it is in constant negotiation with big oil companies for a time charter if the Board of Directors decides that this will be to the benefit of the Company and the shareholders. On February 2, 2007, Ocean Tankers Holdings Public Company Limited will sign a contract with shipyard Yangzhou Kejin Shipyard Co in Nicosia – Cyprus for the purchase of two new-fangled tankers of double inner-side, which will be delivered on March 31, 2007 and June 30, 2007 respectively.
EMAS Offshore Launches Singapore Listing
EMAS Offshore boosts profile amongst international investment community by providing Asian platform for growth; Singapore public offer opens at 6.00 p.m. today and closes at 12.00 noon on 2 Oct 2014. EMAS Offshore Limited (“EMAS Offshore”, or the “Group”), formerly known as EOC Limited (“EOC”), is pleased to announce the launch of its public offering of shares following the registration of its prospectus (the “Prospectus”) with the Monetary Authority of Singapore (“MAS”), in…
Thailand Boosts LNG Imports
Thailand is signing new contracts for LNG purchases and expanding terminals to boost imports to replace flagging domestic production, Bloomberg reported. Southeast Asia’s second-largest economy will boost LNG imports by more than 70 percent this year. The report said that the country is doing everything it can to facilitate increased LNG imports to replace the declining domestic production. These include expanding the existing terminals. Producers of the fuel are expected to expand…
Maritime Capital Shipping Withdraws Proposed IPO
Maritime Capital Shipping Limited has withdrawn its lodgment of its preliminary prospectus with the Monetary Authority of Singapore in connection with its proposed initial public offering and listing on the Main Board of the Singapore Exchange Securities Trading Limited. The company has just completed its international roadshow with institutional investors but has decided not to proceed with the launch of its proposed initial public offering citing the significant deterioration in sentiment in the world’s equity markets over the past few days. As a result, the Company does not believe that a stable market for its shares would be established in secondary market trading while such negative market sentiment prevails.
North Atlantic Drilling Set for Initial NYSE Public Offering
North Atlantic Drilling Limited (NADL), a leading offshore harsh environment drilling company in which Seadrill Limited currently holds a 74 percent ownership interest, to file for independent listing on the New York Stock Exchange (NYSE). The company states that it has filed its first amended registration statements with the United States Securities and Exchange Commission (SEC) in connection with its initial public offering and concurrent offer to exchange previously issued unregistered common shares, other than the common shares owned by affiliates of NADL, for common shares that have been registered under the Securities Act of 1933, as amended. Morgan Stanley will act as the Global Coordinator and Lead Bookrunner for the initial public offering.
Boreal Orders Electric Ferry at Vard
Shipbuilder Vard Holdings Limited said it has been awarded a contract to build a new car- and passenger ferry due for delivery to Norwegian public transport operator Boreal in the third quarter of 2019. The vessel will ply the Norwegian fjords powered by a fully electrical battery solution for continuous electric operations. Vard said the vessel’s hull will be constructed at one of its Romanian yards, Vard Braila, and final delivery will take place from Vard Brevik in Norway.
GDF Suez Ships First LNG Delivery to Dubai
GDF Suez has delivered its first cargo in the LNG carrier 'BW GDF Suez Boston' to the Dubai Supply Authority's Jebel Ali Terminal . According to the compamy GDF SUEZ has enlarged its footprint in the Middle East as a major global LNG supplier with the delivery of its first LNG cargo to Dubai. The BW GDF Suez Boston unloaded its 138,000 cu.m capacity cargo to the United Arab Emirates’ sole LNG import terminal, offshore Dubai. Between 2010 and 2016, GDF Suez says it is planning to deliver about 10.8 million tons of LNG to major energy players in Asia (KOGAS, CNOOC, Petronas, Petronet, PTT and GAIL). GDF Suez is one of the few European utilities with the flexibility in its natural gas portfolio to direct volumes to these markets.
Unithai Shipyard Has Four Vessels Under Repair
Thailand’s Unithai Shipyard & Engineering currently has four vessels undergoing repair - Technomar Shipping’s 33,185 dwt containership Kota Perwira, Ahrenkiel Shipmanagement’s 26,140 dwt bulk carrier Caria, the Almog, a general cargo vessel owned by Dynamic Shipping Services, and the Spar Cetus, a 45,146 dwt bulk carrier from Fleet Management. Unithai Shipyard has another four vessels scheduled to arrive throughout this month (May) - the Stolt Alliance, a 12,674 dwt chemical tanker from Stolt Nielsen, Osaka Asahi Kaiun’s 16,563 dwt containership Singapore Bridge, the Sutra Dua, an 8,073 dwt chemical tanker from Sutrajaya Shipping, and Bunga Orkid Empat, a 43,246 dwt bulk carrier from Malaysia’s MISC.
Einshøj Global Chief Strategy Officer, Intellian
Intellian announced the appointment of Søren Einshøj as its new Global Chief Strategy Officer and President. With nearly twenty years in the marine communications industry, Einshøj will lead Intellian’s growth. Based in Oslo, Norway, President and CSO Søren Einshøj will be part of the core leadership within Intellian. Einshøj will be focused on developing and managing strategic alliances and partnerships throughout the industry worldwide. In 2001 on behalf of Telenor, formerly Norwegian PTT, Einshøj founded Marlink, a merger between Telenor owners’ maritime satellite communication unit and the acquired SAIT Communications SA based in Belgium.