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Rimorchiatori Mediterranei Buys Keppel Smit Towage and Maju Maritime
Dutch marine services firm Boskalis and its co-shareholder KS Investments Pte. Ltd. (Keppel) have completed the sale of their equity stakes in their harbor towage…
Singapore Approves Ferry Service to Desaru, Malaysia
The Maritime and Port Authority of Singapore (MPA) has approved the application from Batamfast Pte Ltd (Batamfast) to operate the proposed ferry service of a direct…
West Africa Market Harbors Positive Potential for MODU Operators
The region could be a key growth market for the oil and gas industry going forward, writes Joshua Belo-Osagie, Maritime Strategies International (MSI).Improving sentiment surrounds energy market prospects offshore West Africa, the positive mood underpinned by higher oil prices, reformed regulatory frameworks in key markets including Angola and Nigeria and the discovery of major prospects off the Ivory Coast and Namibia.In addition…
Demand Grows for OSVs in the Offshore Floating Production and Storage Energy Sector
Over the last year we have seen an upswing in floating production and storage systems ordering after many years of low activity. According to our colleagues at World Energy Reports, “The global oil and natural gas markets are contending with rebounding energy demand on top of supply disruptions from Russia’s invasion of Ukraine. As a result, activity and business sentiment in the floating production…
Naming Ceremony Held for Yinson's Anna Nery FPSO
Malaysian FPSO provider Yinson, with its project partner Sumitomo Corporation named the new FPSO Anna Nery, during a naming ceremony held concurrently in Jiangsu, China and Kuala Lumpur, Malaysia. The FPSO Anna Nery is currently undergoing final conversion works and is going to set sail for Brazil in the third quarter, where it will be deployed at the Marlim Field located in the eastern part of the Campos Basin…
MISC Makes Leadership Change
MISC Group’s President/Group Chief Executive Officer (CEO), YBhg. Datuk Yee Yang Chien announced his plan to retire effective September 30, 2022. Datuk Yee will turn the helm over to Captain Rajalingam Subramaniam, MISC’s Chief Operating Officer and AET’s President & CEO, who will assume the role of MISC Group’s President/Group CEO effective October 1, 2022.Datuk Yee said, “It has been a great honour for me to be given the responsibility to lead MISC Group back in 2015.
Sapura Energy Sells Pipelayer to UAE-firm for $71.5M
Malaysian company Sapura Energy has agreed to sell its pipe-laying and crane vessel Sapura 3000 for $71.5 million to Safeen Feeder Company – Sole Proprietorship LLC, a company in the Abu Dhabi Ports Group of Companies."The proposed asset disposal exercise is part of the Group’s reset plan, which focuses on Sapura Energy’s long-term sustainability by improving its liquidity position, streamlining its operating model and providing greater flexibility for strategic growth…
Avenir LNG Takes Delivery of LNG Bunker Supply Vessel
Avenir LNG Limited has taken delivery of the Avenir Achievement, the second 20,000 cbm dual-purpose, liquefied natural gas supply and bunkering vessel (LBV) delivered from Nantong CIMC Sinopacific Offshore & Engineering Co. (“SOE”). The Avenir Achievement is the sixth vessel to be delivered into the Avenir fleet.The vessel will be equipped with BOG reliquefication and simultaneous operations (SIMOPs) capabilities…
Enauta's Atlanta FPSO to Be Operated Under ABS Class
The FPSO Atlanta, contracted by the Brazilian oil company Enauta to Malaysia's Yinson for conversion to service the Atlanta Field offshore Brazil, will be operated under ABS Class.The Atlanta, which will serve as the Definity Production System at the Atlanta Field in the Santos Basin, offshore Brazil, is being converted in Dubai Drydocks World, including structural upgrades, refurbishment and enhancement of equipment…
Regulators OK Sale of KST and Maju to Rimorchiatori Mediterrane
Boskalis and its co-shareholder KS Investments Pte. Ltd. (Keppel) have received the approval from the regulatory agencies in Singapore for the sale of their harbor…
China Moves Another 2 Million Barrels of Iranian Oil into Reserve Tanks
China is set to receive close to two million barrels of Iranian oil this week and pump into a reserve base in south China, according to tanker tracker specialist Vortexa Analytics.Diona, a very large crude carrier owned by National Iranian Tanker Company (NITC), is expected to discharge the oil into an oil terminal in Zhanjiang of Guangdong province, said Emma Li, Vortexa's China analyst.This would be the third Iranian oil cargo destined for government stockpile following two similar-sized shipm
Venezuela's Oil Exports Drop 8% in April amid Quality-linked Delays
Venezuela's oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel monitoring data on Thursday.U.S.-sanctioned Venezuela recovered a portion of lost production last year, but crude shipments have been volatile, bouncing some 200,000 barrels per day (bpd) in the…
Singapore Port Authority Says Tainted Bunker Fuel Came from UAE
Contaminated fuel supplied to some 200 ships in Singapore came from a tanker that loaded the oil from Khor Fakkan port in the United Arab Emirates, the Maritime and Port Authority of Singapore (MPA) said.MPA began investigations after it was notified on March 14 that a number of ships had been supplied with high-sulphur fuel oil (HSFO) containing high concentration levels of chlorinated organic compounds…
Indonesia Deploys Navy Ships to Thwart Ilegal Shipments of Refined Palm Oil
Indonesia deployed navy ships and hundreds of personnel on Wednesday, including intelligence assets, in an effort to thwart illegal shipments of refined palm oil olein, just hours away from an export ban aimed at taming surging cooking oil prices.The new rules were due to take effect at midnight local time (1700 GMT), and the navy and other agencies had been instructed to step up patrols of Indonesian waters to ensure compliance…
Philippines Slams Chinese Ship's 'Close Distance Maneuvering'
The Philippine Coast Guard (PCG) on Sunday reported a recent incident of "close distance maneuvering" by a Chinese Coast Guard (CCG) vessel in the disputed South China Sea that "constrained" the movement of a Philippine ship sailing nearby.The March 2 incident took place during the PCG's maritime patrol operations around the Scarborough Shoal, locally known as Bajo de Masinloc, the PCG said in a news…
Russia's PSB Denies Owning Oil Tanker Targeted by US Sanctions
Russia's Promsvyazbank (PSB) said on Monday its unit PSB Leasing did not own the oil tanker Linda, among five ships targeted by U.S.
Russian Oil Tanker Hit by Sanctions Heading to Malaysia
A Russian-flagged crude oil tanker targeted by U.S. sanctions is heading to Malaysia, shipping data showed on Monday, amid growing international scrutiny on businesses…
Demand Shock Behind Global Bottlenecks Should Ease in Months -WTO
Global trade bottlenecks are more the result of demand spikes than supply chain snags, with pressure likely to ease in the coming months, the World Trade Organization's chief economist said on Monday.The WTO had thought in October that demand for goods would slow early in 2022. However, that was before the Omicron variant of coronavirus led to curbs on activity, including the postponement of the WTO's…
Iran's Oil Exports On the Rise
Iranian oil exports have risen to more than 1 million barrels per day for the first time in almost three years, based on estimates from companies that track the flows, reflecting increased shipments to China.Tehran's oil exports have been limited since former U.S. President Donald Trump in 2018 exited a 2015 nuclear accord and reimposed sanctions aimed at curbing oil exports and the associated revenue…
Petronas, MOL Sign Liquefied CO2 Shipping MoU
Malaysia's state energy firm Petronas said on Wednesday it has signed an agreement with Japanese shipping company Mitsui O.S.K Lines (MOL) to explore opportunities in liquefied carbon dioxide (CO2) shipping in Asia Pacific and Oceania regions.Both parties will jointly study liquefied CO2 transportation for the carbon capture, utilization, and storage (CCUS) value chain, Petronas said in a statement.Liquefied CO2 transportation helps connect CCUS sites safely and efficiently over long distances w