Freeport LNG Kicks Off Train 2
US-based Freeport LNG has started commercial operations at its second of three planned liquefaction trains.Freeport LNG Train 3 remains on track to meet its previously announced schedule, with initial production of LNG scheduled for Q1 of 2020, said McDermott International, Inc. with its partners, Chiyoda International Corporation and Zachry Group."We continue to advance the Freeport LNG Project with another significant accomplishment, the commercial operation of Train 2," said Mark Coscio…
IRClass Foreign Flag Fleet Reg. Up 16%
The Indian Register of Shipping (IRClass) said that the classed fleet registered approx. 3% growth in the past year.The ship classification society said that its foreign flag fleet continued to grow at a robust pace with 16% more vessels added during 2019 demonstrating strong global acceptance of IRClass services.IRClass received several flag authorizations in 2019 including key flags like Cyprus and Denmark and is now recognized by 45 flag states worldwide. It opened a new office in the Netherlands to add to its other European offices in the UK…
INSIGHTS: Sean Fernstrum, President, R.W. Fernstrum
This month, listen in as Sean Fernstrum weighs in on how his firm arrived at its enviable market position, what comes next, and why.Sean Fernstrum is a third-generation owner of R.W Fernstrum & Company. He graduated from Michigan Technological University in 1990 with a Bachelor of Science degree in Scientific and Technical Communications. After college, he came home to Menominee, Michigan and began working as a Technical Writer at R.W. Fernstrum & Company. He has been President of the company for the last 8 years.
Louisiana LNG Unit Starts Production
Train 2 of the Cameron LNG project in Hackberry, Louisiana, has begun producing liquefied natural gas (LNG), announced McDermott International and its joint venture partner, Chiyoda International Corporation, a U.S.-based wholly-owned subsidiary of Chiyoda Corporation, Japan.While production is in the initial phases, this significant project accomplishment is a precursor to substantial completion of Train 2."This accomplishment is attributable to the entire team's unwavering commitment…
APM's Moín Container Terminal Reaches 1MTEUs
APM Terminals, an international container terminal operating company, said that its Moín Container Terminal celebrated the movements of its 1 millionth TEU on 11 December 2019.This milestone, achieved in less than 10 months of operation, is particularly significant, as the next phase of the terminal will be built when an annual volume of 1.5 million TEUs is reached, said a press note. APM Terminals has a 30-year concession to operate the terminal.The millionth TEU was unloaded…
Deepwater Investments to Grow +5% in 2020
Though overall global upstream investments in 2020 will decrease by around 4%, deepwater will be the only segment expected to grow above 5% next year, spelling a boom for the industry, said a report.Rystad Energy is forecasting that overall global upstream investments in 2020 will decrease by around 4%. Investments in shale/tight oil are expected to contract the most next year by almost 12%.Rystad Energy believes that the lower oil price and weaker cash flows will force shale companies to reduce activity.
Changes to Volvo Penta Executive Group Announced
After 26 years with Volvo and 7 as President of Volvo Penta Americas, Ron Huibers has decided to retire from his current role and move to another role within Volvo Penta. Succeeding Ron will be Martin Bjuve, currently CFO and SVP Business Office Volvo Penta. Planned transition date will be January 1, 2020. Bjorn Ingemanson, President and CEO Volvo Penta, today announced that Ron Huibers, President Volvo Penta Americas, has decided to retire from his current role and take up a new role within the company. "The team, customers and industries we serve here have been exciting and rewarding.
Product Tanker Freight Rates Rebounds
Product tanker freight rates softened in the third quarter of 2019 but rebounded strongly at the start of the fourth quarter following an increase in crude tanker rates that began after the attacks on Saudi Arabian oil facilities and accelerated dramatically to multi-year high levels at the end of September when the US imposed sanctions on two subsidiaries of China's COSCO Shipping.Denmark-based TORM said that growth in global demand for oil products generally remained subdued…
WISTA Re-elects Theodosiou as President
Women’s International Shipping and Trading Association (WISTA) announced that Despina Panayiotou Theodosiou (WISTA Cyprus), CEO of Tototheo Maritime, was re-elected to a second term as President.WISTA International elected Alexandra Anagnostis-Irons, President of Total Marine Solutions (WISTA USA) as Secretary, and Fabiana Simões Martins (WISTA Brazil), as Board Member, to the WISTA International Executive Committee at the 39th WISTA International Annual General Meeting on Grand Cayman on 30 October 2019.Naa Densua Aryeetey (WISTA Ghana)…
IMO Organizes Training on SOLAS
International Maritime Organization (IMO) ’s most important ship safety treaty – SOLAS – provides for safe merchant shipping, covering a wide variety of topics, from ship construction to fire protection, to life-saving appliances and cargo carriage.According to the UN body, SOLAS generally applies only to ships above a certain size which make international voyages, but IMO’s efforts to improve ship safety go further – extending to so-called “non-SOLAS” vessels. These include fishing vessels…
SOLAS Training in S. America
International Maritime Organization (IMO)’s most important ship safety treaty – SOLAS – provides for safe merchant shipping, covering a wide variety of topics, from ship construction to fire protection, to life-saving appliances and cargo carriage.SOLAS generally applies only to ships above a certain size which make international voyages, but IMO’s efforts to improve ship safety go further – extending to so-called “non-SOLAS” vessels. These include fishing vessels, domestic ferries…
IMO Backs Polar Waters Navigation Training
Well-trained seafarers are essential to safe ship navigation in Polar waters and International Maritime Organization (IMO) has been playing its part with a training course for maritime instructors, underway in Valparaíso, Chile (18-22 November).The course is training participants from maritime training institutions in South America responsible for training seafarers – with a focus on IMO’s Polar Code. The code, when properly applied, is a powerful tool for safeguarding the environment…
Offshore: OSV Market Report
The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic slowdown – whether cyclical or induced by a trade war – have weighed heavily on oil prices, even in the face of reduced production by the big producers. Though storm clouds persist, there appears a clearing on the horizon.The fate of Offshore Service Vessels (OSVs) is, naturally, closely tied to the price of oil. Seacor Marine’s John Gellert, in reviewing its Q2 results, said: “Activity levels in the U.S.
Yang Ming Sets-up Shop in China
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation has formed a new subsidiary with un-named partners in Shanghai named Huan Ming (Shanghai) International Shipping Agency.The subsidiary will begin operating on 1st January, 2020. Huan Ming will act as Yang Ming’s general agent in China. With the establishment of Huan Ming, Yang Ming is confident that its image will be further strengthened and the resources in China better integrated to reasonably reduce operating costs and improve operating efficiency.China accounts for a large share of Yang Ming’s total cargo volume.
Interview: Davide Breviglieri, CEO of Azimut Yachts do Brasil
With 50 years of history, the Azimut | Benetti Group is recognized as the world’s largest motor yacht builder (global orderbook 2019). For nearly 10 years Azimut has been producing a wide range of luxury motor yachts in Brazil. Maritime Reporter´s correspondent in Brazil interviewed Italian executive Davide Breviglieri, CEO of Azimut Yachts do Brasil.Founded in 1969 by Paolo Vitelli, still the main shareholder, the group is present in 70 countries and has a network of 138 sales and service offices…
DP World Becomes a Full Logistics Operator in Peru
DP World, a Dubai-based global port operator, announced that it has expanded its business in Peru into a fully-integrated maritime and logistics operation.It has completed the development of the first phase of the deepwater port of Posorja in Ecuador for around $538 million. The whole project is estimated to cost around $1.2 billion.The development of the port by DP World will make Ecuador a trade and logistics hub for South America’s west coast. It will also see large container ships with capabilities exceeding 10…
Deepwater Port Posorja 1st Phase Opened
The $538 million first phase of the new Deepwater Port of Posorja in Ecuador by global trade enabler, DP World, is now completed and successfully operational.The overall $1.2 billion project will replicate Dubai's Jebel Ali Port and freezone, making Ecuador a trade and logistics hub for South America's west coast, and opening a gateway for large container ships with capacities exceeding 10,000 TEUs.Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, visited the facility to assess progress of the project, which is one of the largest international investments in Ecuador.
Dachser Opens Argentina, Chile Offices
Due to the continuous growth of its South American operations, global logistics provider Dachser recently relocated both its Buenos Aires, Argentina regional office as well as its Santiago, Chile regional office to larger facilities.“The business in both Argentina and Chile is expanding and we simply outgrew our offices in these countries. We needed more employees, equipment and space to properly handle the business we have today as well as prepare for the growth we anticipate in these markets,” said Guido Gries, Managing Director Dachser Americas.
Panama Canal Reports Record FY 2019 Tonnage
The Panama Canal has closed the 2019 fiscal year (FY19) with a record tonnage of 469 million Panama Canal tons (PC/UMS), a 6.2 percent increase compared to FY2018.With this figure, the waterway exceeds the 450.7 million PC/UMS tons projection for FY2019, as well as the record tonnage of 442 million PC/UMS tons registered in the previous fiscal year. These record-setting results reflect the Canal workforce's commitment to efficiency and ongoing investments in infrastructure, which will allow the waterway to meet the growing demand and offer a reliable and safe service to customers.
Saudi Attacks, High Demand Leaves U.S. Short on Oil Tankers
A disruption in global oil flows following attacks on Saudi Arabian facilities has left U.S. crude exporters without enough tankers to cover rising demand for cargoes, traders and shipping sources said.Missile attacks last Saturday temporarily cut Saudi oil production by more than 5 million barrels per day, or about half the country's output.That set off a scramble for alternative cargoes of crude, particularly in the United States, which lined up available tankers sailing from the Mediterranean, West Africa and continental Europe to pick up cargoes.
Workshop on Safe Handling Dangerous Goods
A variety of important measures must be applied to transport dangerous goods in packaged form and solid bulk by ship safely, says International Maritime Organization (IMO).According to the UN body, these include correct identification, classification, packaging, labelling, handling, storage, loading, stowage, unloading and transport.These measures are covered by IMO’s International Maritime Dangerous Goods Code (IMDG) and the International Maritime Solid Bulk Cargo Code (IMSBC) – the subject of an IMO training workshop underway in San José…
Small Scale FSRU: Think Smarter Not Bigger
The global search for lower carbon forms of energy and demand for cost-effective ways to serve power demand in emerging markets and remote locations is driving interest in floating storage and regasification units (FSRU).FSRUs are a faster and more flexible way to import natural gas to power-constrained places, so demand for the units is increasing and the business case for owning them is growing stronger.Their model for supplying energy and transport fuel is historically well proven: they offer faster development timelines and lower initial capital costs compared to onshore regasification…
OP/ED: Farm Facts
USDA Study Underscores Value of Inland Waterways to U.S. Agriculture.On August 28, U.S. Secretary of Agriculture Sonny Perdue and Assistant Secretary of the Army (ASA) for Civil Works R.D. James toured Mel Price Locks and Dam in Alton, Illinois, and held a Town Hall Meeting to discuss the importance of the waterways, agriculture and the U.S. economy. At the event, Secretary Perdue briefed agricultural and waterways stakeholders on a newly released study – Importance of Inland Waterways to U.S. Agriculture – from the U.S.