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China's Imports of Russian Oil Near Record High
Russia remained China's top oil supplier in March, data showed on Saturday, as refiners snapped up stranded Sokol shipments.China's imports from Russia, including supplies via pipelines and sea-borne shipments, jumped 12.5% on the year to 10.81 million metric tons, or 2.55 million barrels per day (bpd) last month, according to data from the General Administration of Customs.That was quite close to…
Esgian Week 16 Report: Rigs on the Move
Esgian reports on the many rig movements that occurred last week in its Week 16 Rig Analytics Market Roundup.Report SummaryContractsADES Holding Company has received a letter of award from an international oil company for a one-year firm drilling contract for a jackup offshore Qatar.TotalEnergies has exercised a three-well option for Transocean 12,000-ft drillship Deepwater Skyros offshore Angola at a rate of $400…
MISC Signs Deals for World’s First Ammonia Dual-Fuel Oil Tankers
Malaysia’s MISC Group has entered into time charter party (TCP) and shipbuilding contracts for the development of world’s first two ammonia dual-fuel Aframax oil tankers.The TCP contract has been signed with Petronas' PETCO Trading Labuan Company (PTLCL), through MISC Group's petroleum arm AET.Using these vessels, PTLCL will be able to transport its products to customers around the world while contributing…
Esgian Week 15 Report: South America Remains Vital
Esgian reports on new contracts for Borr Drilling and Shelf Drilling (North Sea) jackups in its Week 15 Rig Analytics Market Roundup. Additionally, Energean has selected a drillship for its upcoming drilling campaign offshore Morocco. South America remains vital to the floating rig market, with ExxonMobil moving ahead on a sixth development on the prolific Stabroek block offshore Guyana and Petrobras…
Fueltrax Opens Vessel Operations Center in Kuala Lumpur
Electronic Fuel Management Systems (EFMS) company Fueltrax reports it has opened a Vessel Operations Center in Kuala Lumpur, Malaysia.This is Fueltrax’s second such center and the first outside of the company’s headquarters in the U.S. It provides closer-to-region coverage for Asia-Pacific customers.Ruben DeLeon, Fueltrax’s Vice President of Product Support, drew on his seven-year tenure at NASA's…
Esgian Week 14 Report: Major Jackup Contract Suspensions
Esgian reports various drilling contractors disclosing details of discussions with Saudi Aramco regarding jackup contract suspensions in its Week 14 Rig Analytics Market Roundup. These contractors include Shelf Drilling, ADES, Borr Drilling, Arabian Drilling, COSL, and ARO Drilling.Meanwhile, Transocean, Noble, and COSL rigs have firmed up new work in the US Gulf of Mexico, Suriname, and the North Sea…
Esgian Week 13 Report: Demand Shifts
Esgian reports shifts in demand in its Week 13 Rig Analytics Market Roundup.Report overview:ContractsADES has received a Letter of Intent (LOI) from PTTEP Energy Development Company Limited for an 18-month jackup drilling contract in the Gulf of Thailand. Operations are expected to begin in the second half of 2024, with an unspecified jackup.Drilling Activity and DiscoveriesThe Norwegian Offshore Directorate…
Itochu, U-Ming Mull Ammonia-Fueled Ships
Japanese trading house Itochu Corp will study joint ownership and operation of ammonia-fueled ships with Taiwan's U-Ming Marine Transport Corp, Itochu said in a statement, as Japan is bets on ammonia to cut emissions.The shipping industry transports about 90% of world trade, and accounts for nearly 3% of the world's carbon dioxide emissions; and installing ship engines that burn cleaner fuels could…
Trafigura, Mercuria Switch Bunkering to Mauritius Amid Attacks
With more ships heading around the Cape of Good Hope due to attacks in the Red Sea region and a shutdown in their main South African bunkering operations, Mercuria and Trafigura have started refuelling services in Mauritius, four sources said.The two trading houses have opened operations in Port Louis to compensate for the shutdown at South Africa's Algoa Bay which stems from a tax dispute with authorities…
Esgian Week 10 Report: Additional Backlog Secured
Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship…
Malaysia Says MH370 Search Must Go On
Malaysia is pushing for a renewed search for Malaysia Airlines Flight MH370, the transport minister said on Sunday, as the 10th anniversary of its disappearance in one of the world's greatest aviation mysteries approaches.Flight MH370, a Boeing 777 carrying 227 passengers and 12 crew, vanished en route from Kuala Lumpur to Beijing on March 8, 2014.Malaysian investigators initially did not rule out the possibility that the aircraft had been deliberately taken off course…
Tanker Backlog Grows in Venezuela as PDVSA Struggles to Deliver Oil
A bottleneck of vessels waiting to load crude and fuel in Venezuela has increased in recent weeks as state-run oil firm PDVSA struggles to deliver cargoes on time, according to people familiar with the matter, documents and shipping data.PDVSA has sought to ramp up shipments this month, the documents and data showed, following setbacks in January as outages at Venezuela's main port hit its exports.
The APAC Offshore Market: Riding the Wave of Success into 2024 and Beyond
2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day, leading to earnings doubling and, in some segments, tripling since the lows of 2020. Current rates will remind many of the glory days of pre-2014 with the demand for OSVs projected to remain elevated for years to come.In general…
Philippines Accuses China of Dangerous Maneuvers Near Scarborough Shoal
The Philippines' coast guard (PCG) on Sunday accused China of "dangerous and blocking" manoeuvres while its vessel patrolled near Scarborough Shoal in the South China Sea this month.Manila's coast guard said in a statement that on a nine-day patrol near the shoal by its 97-meter (318-foot) vessel BRP Teresa Magbanua, four Chinese coast guard (CCG) vessels had shadowed the boat more than 40 times.Four Chinese maritime militia vessels were also present near the shoal…
Gladys Goh takes the Helm at Nippon Paint Marine
Nippon Paint Marine appointed Gladys Goh as its President, effective immediately, making her the first female and foreign national to lead a principal operating company in Japan. The marine division is the founding business for the 140-year-old Nippon Paint Holdings Group, a leader and pioneer in marine paint and Goh Gladys joined Nippon Paint Malaysia in 2006, driving the brand to become Malaysia's top coatings provider and subsequently led expansion into new markets.
ONE Trials Dual-Temperature, Controlled-Atmosphere Container
Ocean Network Express (ONE) has launched the world’s first dual-temperature refrigerated container equipped with controlled atmosphere functionality in collaboration with Pan Pacific International Holdings (PPIH) and NAX Japan.It is the world's first use of marine transportation of the dual-temperature refrigerated container equipped with controlled atmosphere functions that will transport various types of perishable goods and fruits from Japan to overseas stores of Don Quijote…
Philippines Plans to Buy Submarines to Defend Sovereignty in South China Sea
Philippines President Ferdinand Marcos Jr has approved the third phase of the military's modernization, which includes the purchase of the country's first submarine, in order to defend its maritime sovereignty in the disputed South China Sea.Navy spokesperson for the West Philippine Sea, Roy Trinidad, said on Thursday the third phase of modernization reflected a shift in strategy away from internal…
Trans Global Projects Appoints New Director
Trans Global Projects (TGP) has appointed Dominic Toh as Director, Singapore, as part of its strategy to capitalise on strong growth in the project cargo market of southeast Asia.Toh, who is the company’s second key hire since the start of January 2024, brings nearly three decades of logistics’ experience, including from several major multinational project logistics organisations.Based out of TGP’s Singapore office…
Malaysia to Ban ZIM From its Ports
Malaysia will ban Israeli shipping company ZIM from docking at any of its ports effective in four weeks, Prime Minister Anwar Ibrahim said on Wednesday."This restriction is a response to Israel's actions that violate basic humanitarian principles and international laws," Anwar said in a statement, referring to its military response in Gaza to a deadly incursion in southern Israel in October by Hamas militants.(Reuters - Reporting by Danial Azhar; Editing by Martin Petty)
Shippers Mask Positions, Weigh Options Amid Red Sea Attacks
A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.Attacks in recent days on ships in the major Red Sea shipping route have raised the spectre of another bout of disruption to international commerce following the upheaval of the COVID pandemic…