Royal Dutch News

26 May 2020

Pandemic Forces Virtual Safety Checks for Oil Tankers

© Andrea Izzotti / Adobe Stock

Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships as storage.Oil tankers require rigorous inspections twice a year to reduce the risk of oil spills or mechanical collapse with polluting cargoes onboard.But the global pandemic has disrupted international trade, leaving merchant seafarers stuck on ships…

18 May 2020

Russian Pipe-laying Vessel Moors at Nord Stream 2 Hub in Germany

© Sergei Skriabin/ MarineTraffic.com

A Russian pipe-laying vessel Academic Cherskiy which Moscow can use to finish laying pipes for the Nord Stream 2 gas project, has moored near the German logistics hub in Mukran, Refinitiv Eikon tracking data showed on Monday.Led by the state gas company Gazprom, Nord Stream 2 had to suspend pipelaying works late last year, hit by fresh U.S. sanctions. The project is aimed at doubling existing undersea flows to Germany to 110 billion cubic meters per year.Cherskiy, bought by Gazprom in 2016, has sailed from the Russian Pacific port of Nakhodka where it was docked in December when the U.S.

07 May 2020

Virus Lockdowns Pummel Global Gas Demand, Force LNG Output Cuts

Illustration; An LNG Carrier - Image by vladsv/AdobeStock

Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output. Economies worldwide have ground to a halt as virus containment measures have taken their toll, slashing gas demand for power generation, heating, cooking, vehicles and chemical manufacture. The world's biggest LNG markets - Japan, China, South Korea, and India - are all seeing a drop in demand.

30 Apr 2020

LNG Carriers Build Up Around Virus-hit Europe

© Maciej Bledowski / Adobe Stock

Liquefied natural gas (LNG) cargoes are piling up off the shores of Europe as the coronavirus pandemic severely disrupts gas demand, leading to delays in tanker discharges and a rise in the number of vessels used as floating storage, analysts said.Lockdowns due to the virus have led to a slump in industrial gas consumption worldwide, reducing demand for LNG and causing cargo deferrals, delays and cancellations, initially reflected by a build up of floating cargoes in the Far East and India.Despite some vessels managing to unload as lockdowns ease…

23 Apr 2020

Jaap de Lange Named MD at AEGIR-Marine

Jaap de Lange was appointed Managing Director of AEGIR-Marine.

Jaap de Lange was appointed Managing Director of AEGIR-Marine, a stern seal and propulsion services company. He started his career in the Royal Dutch Navy, and was in consulting for 23 years in a variety of roles. Since 2009 he worked for Damen Shipyards in several senior leadership positions.“We are convinced that Jaap de Lange is the right man for the job in the present phase of our companies,” said Ruud Muis, owner of AEGIR-Marine. “His experience working within different cultures around the globe…

14 Apr 2020

China's GCL, Shell Working on LNG Trading JV

GCL Oil& Natural Gas Co Ltd has entered a framework agreement with Royal Dutch Shell to explore setting up a joint venture based in eastern China to market and trade liquefied natural gas (LNG), the privately-owned Chinese company said on Tuesday.The proposed JV would secure LNG supplies from Shell and market the fuel to a receiving terminal which GCL is planning in Jiangsu province, GCL said in a statement.A Shell spokeswoman confirmed the agreement.The companies provided no further details. (Reporting by Chen Aizhu; editing by Jason Neely)

30 Mar 2020

Shell to Exit Lake Charles LNG Project

Royal Dutch Shell said on Monday it will exit the Lake Charles liquefied natural gas export project in Louisiana, citing the plunge in oil prices due to the coronavirus pandemic.The project is a 50-50 venture with U.S. midstream company Energy Transfer, which said in a separate statement it will take over development of the project.(Reporting by Shradha Singh in Bengaluru; Editing by Aditya Soni)

24 Mar 2020

Work from Home: Energy Traders Swap Shouts for Babies, Barking Dogs

© cherryandbees/AdobeStock

SINGAPORE, March 24 -- From banks of screens and giant phones in the office, energy traders worldwide are adapting to a laptop in the bedroom -- and it's going surprisingly well.Working from home has become the new norm in the oil trading hubs of Singapore, London and New York as governments encourage physical distancing to curb the spread of coronavirus.While some energy companies have long had facilities in place to allow off-site access to trading platforms and other technology…

23 Mar 2020

Saudi Arabia's Tanker Power Play Could Backfire

© Carabay / Adobe Stock

Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments.That could leave the kingdom stuck with tens of millions of barrels in expensive ships at anchor when the coronavirus outbreak has destroyed oil demand and international prices have lost more than half their value compared with the start of the year.Following the failure to persuade…

18 Mar 2020

Shell Books Supertanker to Store Crude Oil at Sea

© Nightman / Adobe Stock

Royal Dutch Shell has booked a supertanker to store 2 million barrels of oil at sea to park mounting global stocks, shipping sources said on Wednesday.Shell declined to comment.The sources said Shell had booked a very large crude carrier (VLCC), which can store up to 2 million barrels of oil, for a five-month charter.

17 Mar 2020

Glencore Charters World's Largest Tanker to Store Crude

ULCC Europe (Photo: Euronav)

Trading house Glencore has chartered the 3 million barrel crude carrier Europe to store oil at sea for at least 6 months, trading sources on Tuesday.The vessel is one of two so-called ultra large crude carriers (ULCC), the largest tankers in the world.Glencore booked the vessel at a rate of $37,000 a day for the first six months, according to the sources.A Glencore spokesman declined to comment.Sources told Reuters last week that Royal Dutch Shell had provisionally booked at least three supertankers to store crude oil at sea for at least three months as traders brace for a sharp rise in global

11 Mar 2020

Shell in Talks to Book Tankers for Crude Floating Storage

© Suriyapong / Adobe Stock

Royal Dutch Shell is in discussions to charter at least three supertankers to store around 6 million barrels of crude oil at sea, shipping sources said on Wednesday.Shell has provisionally booked the vessels, known as very large crude carriers (VLCCs), for storage options for at least three months, the sources said, adding that the fixtures were still to be concluded.A Shell spokeswoman declined to comment.If fully fixed, these would be the first tankers to be used for floating…

20 Feb 2020

Global LNG Demand to Double by 2040: Shell

Image: Shell

Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.According to the forecast by Shell,  LNG demand was expected to double by 2040 to 700 million tons, with natural gas set to play “a growing role in shaping a lower-carbon energy system.”Asia is expected to remain the dominant region in the decades to come, with South and South-east Asia generating more than half of the increased…

31 Dec 2019

Castleton Closes Shell Shale Deal

Image: Castleton Resources

Houston-based Castleton Resources said that its subsidiary Castleton Commodities International LLC (CCI) has closed on the acquisition of the East Texas and North Louisiana Haynesville Shale assets of BG US Production Company LLC, a subsidiary of Royal Dutch Shell plc. Pro forma for the acquisition, Castleton Resources will hold approximately 222,400 net acres in the region and produce approximately 334 MMcfe/d (net). Castleton Resources is owned by CCI and Tokyo Gas America Ltd., a wholly owned subsidiary of Tokyo Gas Co., Ltd. Concurrent with the transaction, Tokyo Gas America Ltd.

20 Dec 2019

Singapore Jails Tanker Captain in Shell Theft Case

AdobeStock / © Renaschild

The captain of a Vietnamese oil tanker has been jailed for over five years in Singapore for his role in a scheme that saw around $150 million of oil stolen from Shell's biggest refinery over several years.Doan Xuan Than, 47, was sentenced to 66 months in prison on Thursday, a spokesman for the State Courts of Singapore said, becoming the second person jailed in a case that also involves former employees of Royal Dutch Shell who allegedly conspired to siphon oil from the firm's Singapore refinery.The theft…

09 Dec 2019

Ocean LNG Leads in Contracted Capacity

Graph: GlobalData

Ocean LNG has dominated in terms of long-term liquefied natural gas (LNG) import volumes for contracts signed by key purchasing companies for the year 2019, with almost 47% of the global contracted capacity.According to a report by GlobalData, Ocean LNG signed the biggest long-term LNG contract for 2019 with Golden Pass Products. According to the contract, Golden Pass Products will supply Ocean LNG with 15.6 million tonnes per annum (mtpa) of LNG for a period of 20 years, from 2024 to 2044.The gas will be supplied from the Golden Pass II LNG liquefaction terminal in Texas…

08 Nov 2019

Small Scale LNG Market to Grow by 6.81%

Cryogas-Vysotsk is Novatek's first small-scale LNG production project. Photo: Novatek

Global small-scale LNG market is expected to rise from its initial estimated value of USD 29.31 billion in 2018 to an estimated value of USD 49.66 billion by 2026, registering a CAGR of 6.81% in the forecast period of 2019-2026.Increasing demand for the LNG is the major factor for the growth of this market, said Data Bridge Market Research.The small scale LNG is especially used for the places where there is less production of LNG and they also don’t require large plants. They usually use tanker…

06 Nov 2019

GasLog Provides FSU for Panama Project

Pic: GasLog

GasLog has recently signed a 10-year time charter with Sinolam LNG Terminal, S.A. for the provision of an LNG FSU to a gas-fired power project being developed in Panama.The time charter is expected to be fulfilled through the conversion of the GasLog Singapore, a 155,000 cbm TFDE LNG carrier built in 2010. The required modifications are such that, as well as being FSU ready, the vessel will still be able to trade as an LNG carrier following the conversion work.The conversion will…

22 Oct 2019

Tankers Unable to Offload in Malaysian Port

© Igor Groshev / Adobe Stock

Refineries at Port Dickson on Peninsular Malaysia's west coast are unable to receive crude oil after a port facility that carries crude from the ships to the plants broke down.A system known as a single point mooring (SPM) unit, a loading buoy anchored offshore that allows tankers to offload their crude via pipeline to the refineries, has been out of service, the refinery operators said.The SPM connects to a refinery operated by Hengyuan Refining Company Bhd (HRC), a subsidiary of China's Shandong Hengyuan Petrochemical Co…

12 Sep 2019

USCG Shuts Upper Houston Ship Channel Amid Protests

The U.S. Coast Guard closed the upper Houston Ship Channel on Thursday morning as 11 Greenpeace USA protesters blocked a portion of the country's largest oil port near Baytown, Texas, the agency said.The channel is closed from Light 102A to Light 104, the Coast Guard said in a notice.The closure of the Ship Channel at that location blocks tanker ship traffic to and from five major refineries in the Houston area, including Exxon Mobil Corp's 560,500-barrel-per-day refinery in Baytown, which is 26 miles (42 km) east of downtown Houston.One ship was waiting to enter the Ship Channel, which links the Gulf of Mexico and the Port of Houston…

18 Sep 2019

Qatar, Shell Partner on LNG Bunkering

Photo: Qatar Petroleum

State-owned Qatar Petroleum and the Netherlands-based oil and gas company Shell signed a shareholder agreement to establish a joint venture for global LNG bunkering services.The agreement signed by Qatar Petroleum’s Wave LNG Solutions and Shell Gas & Power Developments B.V. paves the way for the establishment of a joint venture company owned equally by both parties, subject to customary regulatory approvals.The new company’s principal business activities will include the procurement of LNG…

23 Sep 2019

Shipping Sector Sets Course for Zero Carbon

© Yaniv / Adobe Stock

Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050.Achieving this target will…

18 Oct 2019

Canadian E.Coast LNG Export Plans Progress Shell Deal

Pieridae Energy moved closer to building a liquefied natural gas (LNG) export terminal on Canada's East Coast after taking ownership of fields from Royal Dutch Shell which will feed gas into the plant, the company said.The Goldboro LNG terminal would be the first on Canada's East Coast and compete with the growing number of plants on the U.S. Gulf Coast, hoping its shorter distance to Europe and further west will help sell its LNG by cutting shipping costs.Pieridae said in a statement late on Thursday it had closed a C$190 million ($145 million) acquisition of Shell's gas assets in Alberta's Foothills region, giving it most of the gas…

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