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…
BIMCO Calls for Global Co-operation to Counter Piracy
Turning the tide of piracy and attacks is not a difficult operation in terms of military and law enforcement, according to Jakob P. Larsen, BIMCO Head of Maritime Security. The will to act and get both local and international involvement and cooperation on the other hand, may be.“To be honest, unless we see international naval support and close cooperation between international navies and local law enforcement, I doubt that we will see the numbers go down in any significant way…
Monjasa Moves Bunker Tanker to Panama
Danish bunker group Monjasa has transferred a ship from West Africa to Panama, where it carried out its first fuel supply off the coast of Balboa."As part of a fleet reshuffle, Accra arrived in Panama after forming part of Monjasa’s West Africa bunker operation. The tanker fast received all safety and operational approvals from the Panama Maritime Authorities and completed her first fuel supply at Balboa Anchorage on 18 January," said a statement from the marine fuels supplier.Accra is a 2010-built and 8,800 dwt tanker.
Global Piracy Up in 2018, Gulf of Guinea Leads
Piracy increased on the world’s seas in 2018, with a marked rise in attacks against ships and crews around West Africa, the International Chamber of Commerce’s International Maritime Bureau’s (IMB) latest annual piracy report reveals.Worldwide, the IMB Piracy Reporting Centre (PRC) recorded 201 incidents of maritime piracy and armed robbery in 2018, up from 180 in 2017.The Gulf of Guinea remains increasingly dangerous for seafarers. Reports of attacks in waters between the Ivory Coast and the Democratic Republic of Congo more than doubled in 2018…
Seacor Marine Acquires Three Fast Support Vessels
U.S. offshore vessel owner Seacor Marine has acquired of three fast support vessels (FSVs) in exchange for the private placement of 603,872 shares of its common stock to domestic U.S. holders affiliated with the McCall family of Louisiana.The provider of global marine and support transportation services to offshore oil and natural gas and windfarm facilities worldwide has operated the acquired vessels for the past ten years under a revenue sharing pooling agreement along with four of its owned FSVs of similar specification.As part of the transaction, this pooling agreement was terminated.
Data Management for Comprehensive Fuel Management & Compliance
FUELTRAX optimizes uptime and reduce costs with a real-time marine fuel management solution. Solving your emissions and fuel monitoring reporting and compliance headache is what they are all about.In today’s operating environment, it would be an understatement to say that detailed insight into fuel consumption and efficiency is one key to managing marine operations. But, beyond the operational headache of determining where and why you are consuming so much fuel and so quickly, regulatory compliance is also emerging as a fundamental requirement of modern marine operators.
West Africa to Promote Electronic Data Exchange for Vessels
Ships and ports will need to be able to exchange arrival and departure data electronically from April 2019, under International Maritime Organization (IMO)'s Facilitation Convention said a press note.There requirements also encourage the use of a single window in which all the many agencies and authorities involved exchange data via a single point of contact. Training in the treaty requirements took place during national seminars in Malabo, Equatorial Guinea (13-15 November) and in Nouakchott, Mauritania (20-22 November).
Kosmos Energy, Shell Form Alliance
Oil and gas exploration and production company Kosmos Energy said that it has entered into a strategic alliance with Shell Exploration Company B.V. to jointly explore in Southern West Africa.Initially, the alliance will focus on Namibia, where Kosmos has completed the farm-in to Shell's acreage in PEL 39, and Sao Tome & Principe where it has entered into exclusive negotiations for Shell to take an interest in Kosmos’ acreage in blocks 5, 6, 11, and 12.As part of the alliance, the two companies will also jointly evaluate opportunities in adjacent geographies.
Polarcus Wins 3D Project in West Africa
Offshore geophysical firm Polarcus Limited said Thursday it has received an award for a 3D marine seismic acquisition project in West Africa.The award comprises two surveys of approximately three months each, with the first survey expected to commence Q2 2019 and the second survey Q4 2019.
ABS Awards AIP to HHI’s Standardized FPSO Topside
The global provider of classification and technical advisory services to the marine and offshore industries ABS granted Approval in Principle (AIP) to Hyundai Heavy Industries’ (HHI) Standardized design for a Floating Production Storage and Offloading (FPSO) facility.Initially intended for operations in West Africa, HHI advises its standardized topside design is adaptive to a range of conditions, potentially offering reduced costs and shorter project timelines.“ABS is the world leader in Offshore and in FPSO classification.
Tilbury Port to Capitalise on Opportunities to Boost Trade
Tilbury Port and the people that work there will play a major role in helping the UK to increase international trade after we leave the European Union.International Trade Secretary Dr Liam Fox visited Tilbury Port to meet with port workers and management, as well as members of the Tilbury on the Thames Trust.Tilbury is the fastest growing port in the UK and a £1 billion investment programme will see the port employing 9,000 people by 2020, 3 times more than it did in 2012. One…
UTEC Introduces New AUV Launch and Recovery System
UTEC, a global surveying company in subsea services group Acteon, recently commissioned its new launch and recovery system (LARS) for the fleet of seven autonomous underwater vehicles (AUV) it uses for seabed surveys in the oil and renewables industries.UTEC’s new LARS is a floating garage that enables an AUV to be launched and recovered without needing a small boat, thereby simplifying operations and improving safety. It also increases efficiency and reduces costs by enabling AUV surveys in parallel with construction or laying activities…
Gulf Marine Services Bags New Contract
UAE-based Gulf Marine Services (GMS), a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, said it secured a new contract for one of its Small Class vessels.The new charter is for 12 months (including options) and is scheduled to commence shortly. The vessel will be supporting well intervention activities for a national oil company (NOC) in the MENA region.Duncan Anderson, Chief Executive Officer of GMS…
Ensco to Buy Rowan in $2.38 Bln Deal
Offshore driller Ensco Plc said on Monday it plans to buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, as it looks to expand its fleet and benefit from a partnership with Saudi Aramco.This is Ensco's second deal since OPEC-led efforts boosted oil prices in the second half of 2016. Ensco bought rival Atwood Oceanics in a similar deal last year.Rowan shareholders will receive 2.215 Ensco shares for each share held.
INSIGHTS: John Rynd / President , CEO and Director, Tidewater Inc.
Mr. John Rynd graduated from Texas A&M University with a Bachelor of Arts degree in Economics. He previously served as Chief Executive Officer and President, and as a director of Hercules Offshore from 2008 through 2016. Prior to his time with Hercules, Mr. Rynd spent 11 years with Noble Drilling Services, Inc., where he served in a variety of management roles. Earlier in his career, he served in various roles of increasing levels of responsibility with Chiles Offshore and Rowan Companies. Beyond this, Mr.
The USD1trln African Maritime Industry Mulls Further Growth
The blue economy can be the engine of economic growth, the basis of socio-economic development and industrialization for many African countries, if well utilized.The maritime industry, for example, is estimated at over $1 trillion, and there are other related and emerging sectors of tourism, offshore renewable energy, aquaculture, seabed extractive industries, marine biotechnology and bio prospecting.Said Adejumobi, Southern Africa Director, UN Economic Commission for Africa (ECA) said that the Economic Commission for Africa is fully committed to supporting the African Union…
Missing Tanker Docks in Togo after Suspected Hijacking
A tanker with 19 crew members on board has docked at a port in Togo after going missing for over a week in a suspected hijacking off the West African coast, the crew's agency said on Friday.The Ialkani agency and the ship's managers lost communication with the Panama-registered Pantelena on August 14, when it was about 17 miles (27 km) from the port of Libreville, in Gabon.Two Russian nationals and 17 Georgians were aboard the vessel, a dual purpose oil or chemicals tanker managed by Athens-based Lotus Shipping.
Tanker with 19 Crew Missing in Piracy-Plagued West African Waters
A tanker vessel with 19 crew members on board, most of them Georgians, has gone missing in pirate-plagued waters off Gabon in West Africa and no word has been heard from it for a week, the ship's managers and the crew agency said on Wednesday.Communication was lost with the Panama-registered Pantelena at about 2 a.m. local time on Aug. 14, at which time it was about 17 miles from the port of Libreville, in Gabon, Athens-based Lotus Shipping said in a statement.The head of the Georgian crew agency Ialkani, Anzhela Oganesyan, said two Russian nationals and 17 Georgians were aboard the tanker.
Royston Bringing Advanced Monitoring Tech to SMM
Advanced fuel monitoring and energy management technology, designed to deliver significant cost benefits for vessel operators, will be among the key attractions on the Royston diesel power SMM stand.Royston, an internationally based company operating in the global maritime sector for over 40 years, is an authorized representative for Niigata, GE, Yanmar, Volvo Penta, Scania, Napier Turbochargers.With bases in the U.K., Australia and West Africa, it works closely with customer fleets carrying out engine replacement or maintenance…
Unipec Suspends US Oil Imports as Trade Spat Intensifies
China's Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday.The sources declined to be identified as they are not authorised to speak to the media.It is not clear how long the temporary halt will last, but one of the sources said Unipec has no new bookings of U.S. crude until at least October.Unipec and Sinopec, Asia's largest refiner and biggest buyer of U.S.
DNV GL Secures Shell Penguins Contract
DNV GL has won a cross-service contract to support Shell's Penguins Field redevelopment on the UK Continental Shelf.The contract with Shell involves a team which will deliver an integrated verification and class project for the operator's Penguins floating production storage and offloading (FPSO) vessel.DNV GL is providing integrated Verification and Class services to the project. This will be led by a team in UK Oil & Gas, collaborating with the DNV GL Offshore Class unit in Norway and the DNV GL yard team in China and the Philippines.Justin Fletcher…
Ready Reserve Force Vessels Stand Ready
Merchant mariner numbers may be at a low in the U.S., but the men and women of the Ready Reserve Force (RRF) have increased their operating days by 245 percent from Fiscal Year (FY) 2016 to FY 2017.This year’s missions have included some of the largest ammunition movements since the Vietnam War – which the RRF crane ships are exceptionally cut out for; unit resupply to various theaters around the world, and movement of rotating forces including supporting the Canadian military.
Ocean Rig Announces New Contracts
The international contractor of offshore deepwater drilling services Ocean Rig UDW has entered into a new drilling contract with Chariot Oil & Gas Limited for a one-well drilling program, for drilling offshore Namibia.The contract is expected to commence in direct continuation of the previously announced program with Tullow Namibia Limited in the third quarter of 2018 and will be performed by the Ocean Rig Poseidon.Ocean Rig has entered into a Letter of Intent (LOI) with a European Major Oil Company for a firm two-wells program plus two optional wells…