Marine Link
Wednesday, September 20, 2017

Palmali Lodges $2 Bln Claim Against Lukoil's Litasco

Turkey-based Palmali, one of the biggest shippers in the Caspian region, said on Monday it had lodged a claim worth almost $2 billion against Litasco, the trading arm of Russian oil producer Lukoil, with the English High Court. "The claim concerns an alleged failure by Litasco S.A. to provide contractual quantities of cargo under long term contract between the companies," Palmali said in a statement sent to Reuters.   Reporting by Nailia Bagirova; writing by Vladimir Soldatkin

Netherlands to Receive LNG from Sabine Pass Plant

File Image: A typical LNG Carrier at Sea (CREDIT: MISC)

The Netherlands will receive its second-ever liquefied natural gas (LNG) shipment from Cheniere Energy's Sabine Pass export facility in the United States on Oct. 6, according to shipping data.   The vessel, with a capacity of 166,031 cubic metres, is currently berthed at Sabine Pass, live ship-tracking data shows.   The first delivery from Sabine Pass to the Gate terminal in Rotterdam arrived on June 8 aboard the Arctic Discoverer, a Thomson Reuters analyst said.   Reporting by Oleg Vukmanovic 

Seadrill Files Chapter 11 Bankruptcy Protection

WEST GEMINI. Photo: Seadrill Limited

Seadrill Limited, one of the world’s largest offshore drilling companies, has filed for Chapter 11 bankruptcy protection at the Southern District Texas court, Reuters reported. The indebted oil rig firm controlled by Norwegian billionaire John Fredriksen is seeking to restructure its roughly $10 billion  debts as the petroleum industry continues to grapple with low prices. Seadrill announced that the court overseeing the Company's chapter 11 restructuring proceedings has granted the relief requested by the Company in its key first-day motions related to ordinary course business activities.

Hoegh Autoliners Denies Price-fixing Allegations

(File photo: Hoegh)

Norwegian shipping firm Hoegh Autoliners denied on Tuesday allegations made by South Africa that it and Japanese rival Mitsui O.S.K Lines had colluded to fix transport tariffs to and from South Africa. Hoegh Autoliners specializes in transporting cars, controlling 50 specialized vessels or 6-7 percent of the global fleet in this market. South Africa's Competition Commission said on Tuesday Hoegh Autoliners had been referred for prosecution on seven charges relating to collusive tendering, price fixing and market division.

Statoil's Bahamas Oil Terminal to Shut ahead of Irma

File photo: Statoil

Norway's state-run oil company Statoil began making preparations on Thursday to shut its South Riding Point storage and transshipment terminal in the Bahamas ahead of Hurricane Irma, traders close to the facility told Reuters.   South Riding Point in Grand Bahama has the capacity to store up to 6.75 million barrels of oil.   A neighboring terminal in the Bahamas, Buckeye Partners' BORCO, was also expected to halt all operations on Thursday, the company said. (Reporting by Marianna Parraga)

PacRim Nations Crack Down on N.Korean Ships

South Pacific island nations are scouring shipping records for vessels with links to North Korea after Fiji said it had identified 20 falsely flagged ships it suspects the isolated regime is using to evade United Nations sanctions. Fiji, along with Interpol and the Singapore-based regional shipping regulator Tokyo MoU, are investigating the vessels for links to North Korea, a spokesman for the country's Maritime Safety Authority (MSAF) told Reuters on Friday. Interpol and Tokyo MoU did not immediately respond to requests for comment on their investigations. The 18 members of the Pacific Islands Forum this month agreed to launch an audit of every ship registered in the Pacific to search for any links to North Korea.

Winson Oil, Unipec Snap up Gasoil Cargoes

File Image (CREDIT: AdobeStock / (c) Carabay)

Both traders buy over 12 million barrels in September. Oil traders Winson Oil and Unipec have snapped up over 12 million barrels of gasoil in just under two weeks and are booking vessels in Singapore to either store the fuel or export it, shipping and trading sources said on Wednesday. Winson Oil, based in Hong Kong and registered in Singapore, bought the bulk of the cargoes at over 9 million barrels in oil price agency S&P Global Platts' market since the start of September, trading data showed. Unipec, the trading arm of Chinese state oil major Sinopec, purchased the rest, the data showed.

Bangladesh shortlists Trafigura, Gunvor for LNG Terminals

File Image (CREDIT: AdobeStock / (c) Fotmart)

Bangladesh has shortlisted global commodity traders Trafigura and Gunvor to arrange the installation of two floating liquefied natural gas (LNG) import terminals in 2018 as the country transforms into a major LNG consumer. "Trafigura and Gunvor have been shortlisted out of 13 companies for two 200 million cubic feet/day LNG import terminals," a director at state-run energy firm Petrobangla's LNG division told Reuters. Petrobangla will hold talks with the companies and deals will then be finalised, he added.

New Private LNG Terminal in Pakistan

Photo: Port Qasim Authority

A group of leading business houses in Pakistan plan to build a liquefied natural gas (LNG) terminal by March 2019 for gas processing and consumption in their own plants, Reuters reported. The proposed, second multi-million dollars terminal being set up at the Port Qasim to handle LNG imports will give tremendous boost to LNG trade. The private terminal will bring the total number of potential LNG import projects in the country to eight. Currently, Pakistan has only one active…

STX Wins $183 Tanker Order

Reuters reported that South Korea's STX Shipbuilding Co. has won a $183.3m order from Malaysia to build four product carriers. Source: Reuters

Pirates: Second Tanker Attacked Off Oman

According to a Reuters report, a chemical oil tanker thwarted a hijack attempt by pirates near the Omani port of Salalah Sunday, a day after a tanker and crew were taken from inside the port in front of the coast guard. According to reports cited in the Reuters story, a pirate skiff fired on the chemical tanker, but its efforts were defeated by evasive manuevers. On Saturday, pirates took the empty MV Fairchem Bogey chemical oil tanker from its anchorage at the port in the mouth of the Gulf of Aden, taking 21 Indian crew members hostage and heading to Somalia. (Source: Reuters)

Offshore Wind Turbines Planned in UK

According to a report from Reuters, Clipper Windpower Plc plans to build the world's biggest offshore wind turbines in Britain, which hopes to catch up in green energy after lagging behind others in Europe despite its rich wind resources. Jim Dehlsen, chairman of the London-listed, U.S.-based company, told Reuters it will set up a factory in northern England, which would have an annual capacity to manufacture about 200 turbines by 2014-2015. (Source: Reuters)

POSCO, Hanwha Seen Bidding for Daewoo Int'l

According to a Sept. 23 Reuters report, POSCO (005490.KS) and South Korea's chemicals-to-brokerage group Hanwha are studying a potential bid for Daewoo International (047050.KS), sources close to the companies told Reuters on Wednesday. (Source: Reuters)

Libyan Port's Record Container Throughput

This year (2013) Misrata’s non-oil port, situated 124 miles east of the capital Tripoli, has unloaded 208,339 twenty-foot equivalent units (TEUs) of containers, up from 159,634 last year, reports Reuters. Libya’s third-biggest city, Misrata, has benefited from better security conditions than other parts of the OPEC producer, which has been hit by turmoil since the 2011 toppling of Muammar Gaddafi. Analysts say, according to Reuters, that apart from better security, Misrata port benefits from a free trade zone offering special benefits for investors such as exemptions from taxes and duties. Source: Reuters  

Port of Baltimore Hit by Longshoreman's Strike

Port of Baltimore Wharf: Photo courtesy of Maryland Dept of Transportation

Cargo operations at the Port of Baltimore, one of the largest and busiest ports in the United States, were halted on Wednesday by a longshoremen's strike after contract negotiations stalled, report Reuters. Citing Richard Scher, a spokesman for the Maryland Port Administration, Reuters inform that there is no cargo being handled or ships being worked at the public marine terminals at the port of Baltimore, which is the only port from Maine to Texas that was not working that day.

Seoul Shares Up 0.5 pct, Shipyards Gain

According to a Sept 15 report from Reuters, Seoul shares edged up on Wednesday helped by firm gains in shipbuilders such as Hyundai Heavy Industries Co Ltd (009540.KS), but falls in retailers and banks such as Shinhan Financial Group Co Ltd (055550.KS) weighed. The Korea Composite Stock Price Index .KS11 (KOSPI) ended up 0.48 percent at 1,823.88 points. Kim Seong-bong, a market analyst at Samsung Securities told Reuters that the company is seeing a lot of equity redemption by fundholders at the index's current level, and this will pressure the market for some time. (Source: Reuters)

Bulk Carrier Remains at Anchorage

The Hong Kong-flag bulk carrier Maritime Talent remains at anchorage in Narvik, Norway following a labor union boycott, Reuters reported. The 47,574-dwt vessel arrived in Narvik last Thursday. However, following a boycott by the LKAB labor union, the vessel lost its loading turn and had to remain at anchorage, Reuters added. Reuters said that the International Transport Workers Federation (ITF) had demanded an agreement be signed with the Norwegian Seamen's Union.

BHP Iron Ore Mines Resume Operation

Reuters reported that BHP Billiton’s Australian iron ore mines have recommenced work at full operation following a cyclone that battered coastal regions and closed major shipping terminals this week. “Port Hedland, the world's biggest iron ore terminal and used by BHP to export nearly 200 million metric tons of the steel-making material annually, sustained only minor damage from Cyclone Christine and reopened late on Tuesday,” Reuters said. The storm hit Australia's northwestern coast late on Monday with winds recorded up to 100 mph, before weakening as it crossed the Pilbara iron ore mining belt. Reuters also reported that Fortescue Metals Group and Rio Tinto also said their operations were returning to normal. Source: Reuters  

Tanker Blocked by Libyan Navy

Libya's navy has blocked Baku, an oil tanker allegedly chartered by Royal Asset Management, from loading crude at an eastern port that has been held for months by armed protesters demanding more autonomy from Tripoli, Reuters reported. Due to a government blockade, the transport of oil from Libya is illegal. An attempt by protesters to get oil to world markets independently would be a major escalation of the obstruction that has slashed Libya's oil exports, the Reuters report said. According to Reuters’ AIS Live ship tracking, the tanker is traveling north towards Malta after sailing around Libya since the end of December. The vessel was outside Brega port and then Zawiya before heading to Es Sider.   Sources: Reuters, staff

NLNG May Get Cash for Six LNG Carriers Soon

Nigeria Liquefied Natural Gas Company (NLNG) $1.6 billion bank loan on the cards. The company, which is majority owned jointly by the state oil company NNPC and Royal Dutch Shell, told Reuters a year ago it had contacted global banks to appoint advisers to explore the best option to raise funds. More recently a banking source told Reuters that the loan was being structured as a medium to long term financing with the close expected by the end of March 2013. NLNG was set up over two decades ago to harness Nigeria's natural gas resources and produce liquefied natural gas and natural gas liquids for export. It has long-term supply contracts with buyers in Italy, Spain, Turkey, Portugal and France and also sells on the spot market, reports Reuters. Source: Reuters    

Borr Drilling Aims to Expand Fleet, Keep Costs Low

Borr Drilling, the Norwegian drilling start-up, which listed on the Oslo exchange on Wednesday, said it aimed to expand its fleet, taking advantage of its low cost base. The start-up, launched last year and backed by the world's biggest oil service firm Schlumberger, said it aimed to have the lowest cash break-even costs in the industry and would take advantage of current low prices for rigs. "We have no debt," Borr's Chief Executive Simon Johnson told Reuters after its shares started trading on Oslo's main market. They were previously listed on the over-the-counter market. "That might change in the future, depending on the financing needs, but we can control what we pay for assets," Johnson said.

Caribbean Oil Terminals Prepare for Hurricane Maria

© Alexandre Rosa / Adobe Stock

Several Caribbean oil storage terminals that temporarily closed ahead of Hurricane Irma earlier this month have started making preparations in case they have to shut again due to Hurricane Maria, which was a rare Category 5 storm on Tuesday. Shippers and traders in the Atlantic basin are struggling amid this year's very active storm season, which has seen seven hurricanes so far, four of them major hurricanes, defined as at least a Category 3 on the five-step Saffir-Simpson scale. Hurricane Harvey hit the U.S.

Mitsui OSK Targets 26% Stake in Swan's Indian LNG Unit

Japan's leading shipper Mitsui OSK Lines aims to buy at least a 26 percent stake in a floating storage regassification unit (FSRU) in India, a company official said, to boost its exposure in the west coast project of Swan Energy. Swan Energy is building a 5 million tonnes a year FSRU and floating storage unit (FSU) at Jafrabad in western Gujarat state, with Mitsui awarded a long-term contract for operation and maintenance services. "We have until end-2019, by when the project will be completed, to buy at least 26 percent in Triumph Offshore," Senior Managing Executive Officer Takeshi told Reuters on Monday, referring to the Swan subsidiary that will control the $260 million FSRU. Swan aims to commission the project in the first quarter of 2020, he added.

Maritime Reporter Magazine Cover Sep 2017 - Maritime Port & Ship Security Edition

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