The Tanker Market: 2019 and Beyond
Late 2018 saw the tanker market bubble upwards through late November, with daily vessel hires moving in the direction of, though not yet reaching levels not seen since late 2014-2015, when oil prices were in freefall and inventories building to the brim. A few pundits have suggested that we are seeing a “mini 2014” where lowered oil prices are coaxing another inventory build which would drive tanker capacity utilization, and per diem freight inflows, higher. The oil market has changed over four years…
Shipbuilding: NYK, Jera Carrier Named “Shinshu Maru”
Japan’s Kawasaki Heavy Industries (KHI) held a naming ceremony at its Sakaide shipyard for the new liquefied natural gas (LNG) carrier owned jointly by NYK Line and JERA.The ceremony was attended by Hendrik Gordenker, chairman of JERA Co. Inc.; Yasumi Kudo, chairman of NYK; and a number of related parties.At the ceremony, the ship was named “Shinshu Maru” by Mr. Gordenker and the ceremonial rope holding the vessel in place was cut by his wife. The ship derives its name from “Shinshu”…
Thrustmaster Buys Rolls-Royce DP
Rolls-Royce Commercial Marine has signed an agreement to sell the product Dynamic Positioning (DP) to the U.S. based company Thrustmaster of Texas, Inc.The agreement means that Thrustmaster of Texas now takes over the Intellectual Property Rights (IPR) required to produce and sell the DP product. Rolls-Royce will also pass on necessary documentation and knowledge of the DP product. The agreement does not involve transfer of personnel.Joe Bekker, President of Thrustmaster of Texas…
First U.S. Crude Cargoes Head to China Since Trade Breakthrough
Three cargoes of U.S. crude are heading to China from the U.S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries' trade war that began last month.The vessels left Galveston, Texas, last month and are scheduled to arrive at Chinese ports between late January and early March, according to shipbrokers and vessel tracking data. The shipments mark a change since Chinese buyers largely began avoiding U.S. oil during the trade dispute that flared last summer."It looks like China has resumed purchasing U.S.
Next-Generation LNG Carrier Christened
Mitsubishi Shipbuilding Co., Ltd. held a christening ceremony for a next-generation LNG (liquefied natural gas) carrier under construction for TRANS PACIFIC SHIPPING 5 LTD., a joint venture of JERA Co., Inc. (JERA) and Mitsui O.S.K. Lines, Ltd. (MOL). The new ship, named Nohshu Maru, is the fourth vessel of the latest model "Sayaringo STaGE" type, featuring significant improvements in both LNG carrying capacity and fuel performance due to the adoption of a more efficient hull structure and an innovative hybrid propulsion system.
US Oil Export Boom Sparks Battle to Build Texas Ports
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.Commodities trader Trafigura has taken an early lead with a planned offshore facility that has an easier…
McCarthy to Build Container Yard at Port Houston
US-based construction company McCarthy Building Companies began construction in Oct. on a new container yard within Port Houston, located in Pasadena, Texas.According to a press release from the 150 years old company, the project with Port Houston, will be a 45-acre expansion on the existing Bayport Container Terminal in continued efforts to grow and modernize the port.The development will aid in the port’s ability to serve the continued growth of Houston’s container exports of finished petrochemical…
ABS Opens New Headquarters
Classification society ABS on Tuesday held an official ribbon-cutting ceremony to formally open its new global headquarters in Spring, Texas.“This is a significant milestone in our 157-year history and reaffirms our commitment to provide industry-leading safety and practical technology solutions for marine and offshore industry challenges,” said ABS Chairman, President and CEO, Christopher J. Wiernicki.“A five-year journey that started as an idea has now culminated in a building reflecting our leadership position and our continued vision for growth.
GTMaritime Appoints McNally
Maritime software specialist GTMaritime has appointed maritime satellite veteran Mike McNally as Sales and Marketing Director, as it sets about expanding into new territories.McNally has more than 25 years’ experience working in the industry both at sea and in senior maritime communications management positions. His appointment reflects GTMaritime’s desire to further develop partnerships with its existing customers and resellers, while extending its reach and presence in new territories.As McNally takes up his new role overseeing GTMaritime’s sales and marketing strategy and teams…
Moody's Says Global Oil and Gas Heads into 2019 on Steady Footing
The global Oil and natural gas prices will be volatile, but also range-bound in 2019, Moody's Investors Service says in its annual report outlining key credit themes in oil and gas for the year ahead.While the recent announcement that OPEC and Russia will cut production helps alleviate concerns about oversupply, the pivotal questions in the coming year are whether OPEC and Russia will maintain their production discipline and what might happen in June, when the current agreement expires.Moody's expects the medium-term price band for West Texas Intermediate (WTI) crude…
Great Lakes Bags Corpus Christi VLCC Channel Deal
Great Lakes Dredge & Dock Corporation announced the receipt of a $93 million contract award for the Corpus Christi Ship Channel Improvement Project.Dredging to deepen the entrance channel will commence during the second quarter of 2019 with completion expected in early 2020 said Great Lakes, the largest provider of dredging services in the United States and a major provider of environmental and infrastructure services.It said that the overall ship channel deepening effort will be comprised of multiple phases, expected to be competitively bid and worked over the next five years.
Sempra Energy's Port Arthur LNG in Pact with PGNiG
Poland's state-owned gas company Polish Oil & Gas Company (PGNiG) and Port Arthur LNG, LLC, a subsidiary of Sempra Energy, have entered into a definitive 20-year sale-and-purchase agreement for liquefied natural gas (LNG) from the Port Arthur LNG liquefaction-export facility under development in Jefferson County, Texas. The agreement defines basic terms and conditions of a 20-year contract to be finalized between the parties for the sales and purchase of two million tonnes per annum (Mtpa) of LNG…
Neptune Energy Indonesia Gets New Managing Director
The oil and gas producer Neptune Energy has announced the appointment of Eko Lumadyo as Managing Director of its Indonesian business, based in Jakarta.Lumadyo will join Neptune from Mandala Energy Indonesia, where he is currently Country President and General Manager.Lumadyo has more than 30 years’ experience in upstream oil and gas exploration, development, planning, operations and commercial affairs. He started his career with Unocal as a geophysicist and progressed within the…
French Frigate Shoals: A Canary in the Coal Mine
French Frigate Shoals are located in the northwestern Hawaiian Islands, between Kauai and Midway. The atoll consists of a twenty-mile long crescent-shaped reef, with 13 coral and sand islands and the 120-foot high volcanic rock Perouse Pinnacle, named for French explorer Jean-Francois de la Perouse, who charted the atoll in 1786 and nearly grounded his two frigates. Tern Island is the largest, covering 105,276 square meters or 26 acres. Second largest is (or was) East Island, with 35…
Qatar to Invest USD 20 bln in US Energy Sector
Peninsular Arab country Qatar has said that it plans to invest more than $20 billion in the US energy sector over the next five years.According to a report in Reuters, minister of state for energy affairs of the energy-rich Qatar Saad Sherida Al-Kaabi, who is also the President & CEO of Qatar Petroleum, said he is looking to invest in US oil and gas sectors as well as unconventional resources.The report quoted Saad as saying: “North of USD20 billion will be invested over the…
McDermott Awarded Contract for CB&I Storage Tanks
McDermott International, the fully integrated provider of technology, engineering and construction solutions to the energy industry, announced a contract award for CB&I storage tanks from Nan Ya Plastics Corporation.McDermott's scope of work includes the engineering, procurement, fabrication and construction of four internally framed stainless-steel umbrella roof tanks in Point Comfort, Texas.
Cheniere's Corpus Christi Facility Ships First LNG Cargo
Houston-based liquefied natural gas (LNG) exporter Cheniere Energy said the first commissioning cargo of LNG has loaded and departed from its Corpus Christi liquefaction facility in Texas.The LNG was loaded on the LNG carrier Maria Energy, chartered by Cheniere Marketing, said a press release.“Exporting the first commissioning cargo of LNG from Texas demonstrates Cheniere’s ability to deliver projects safely and ahead of schedule, including the first greenfield LNG export facility in the lower 48 states…
Aramco Bags Galveston Bay Honor
The Galveston Bay Foundation recently honored the volunteer efforts of Aramco Services Company (ASC) with its “Guardian of the Bay” award. This award recognizes ASC’s “leadership, work, and commitment for the betterment of Galveston Bay.”According to a press note the director of Public Affairs Abdulrahman A. Bayounis and Strategic Communications supervisor Alma S. Kombargi accepted the award on behalf of ASC.“ASC is proud to partner with the Galveston Bay Foundation to revitalize such a precious resource,” said Bayounis.
AET Grows in Brazil
With the ongoing development of deepwater pre-salt plays and a decreased demand on local content in tankers and other vessels, Brazilian national operator Petrobras and other super-majors have been looking abroad for better rates and reliable operators of shuttle tankers. Claudio Paschoa, Maritime Reporter’s correspondent in Brazil spoke to Peter Liew, Global Director – Mid Size Tankers, Crude Shipping, about AET Tankers’ history and its operations in Brazil.AET (formerly American Eagle Tankers) was founded in Houston in 1994 primarily to conduct lightering operations in the Gulf of Mexico.
GREAT WORKBOATS: The Very Best 10 of 2018
MarineNews showcases the ten best of North America’s 2018 workboat deliveries. Domestic shipyard production is robust, innovative and getting greener. And, that translates into two kinds of ‘green.’As the domestic offshore energy support sector slowly awakens, other sectors have been happy to take the spotlight in its absence. As always, and if a hull was delivered in 2018, we took a look at it, with several areas as a focus for inclusion into this edition. For my part, I’m always excited when the U.S. boatbuilding sector can deliver for a foreign buyer. We’ve checked that box here.
The Tipping Point: U.S. Exports more Oil than it Imports
The United States last week exported more crude oil and fuel than it imported for the first time on record, underscoring the nation's growing influence as a supplier of oil to the world.Exports of crude surged in the week to Nov. 30 to more than 3.2 million barrels per day, the U.S. Energy Information Administration said on Thursday.When adding in all imports and exports of crude and refined products, for the week the U.S. exported a net 211,000 bpd – the first time that has happened, according to U.S.
Vessel arrives at Cheniere's Corpus Christi LNG Plant
A liquefied natural gas (LNG) vessel, the Maria Energy, arrived at Cheniere Energy Inc's $15 billion Corpus Christi LNG export facility in Texas on Saturday, according to Reuters vessel tracking data.This is the second vessel to visit Corpus since Cheniere started producing LNG in November at the plant's first liquefaction train, a building-sized unit used to cool natural gas into LNG. It could be the first vessel to pick up a cargo there.Cheniere said the first vessel, LNG Golar Tundra, did not pick up LNG.
Thrustmaster Takes a Majority Stake in Blue Thruster
Thrustmaster Holdings B.V., affiliated with US-based Thrustmaster of Texas Inc., has acquired a 58,5% stake in Blue Thruster, a Dutch-based maritime innovations company.With this transaction, Thrustmaster, a leading supplier of thrusters, gains access to two innovative patents developed by Blue Thruster. These patents relate to the so-called V-pod concept, which is a highly innovative concept configuring an azimuth thruster with an integrated permanent magnet motor.With this transaction, Thrustmaster further expands its product portfolio. and its global footprint. Simultaneously, Thrustmaster has engaged into a cooperation with AAApropulsion BV…