Maritime Industry Top News
Asia LNG Price Hovers above $4/mmBtu as Hurricane Disrupts U.S. Exports
Asian spot liquefied natural gas (LNG) prices hovered above $4 per million British thermal units (mmBtu) this week as cargo loadings from the United States were delayed due to a powerful hurricane.The average LNG price for October delivery into northeast Asia <LNG-AS> was estimated at about $4.05 per mmBtu, down five cents from the previous week.Loadings of LNG cargoes from the U.S. have been delayed following Hurricane Laura…
Sovcomflot's 1H Profit Jumps 149%
Russian energy shipping company Sovcomflot reported a net profit for the first half of 2020 of $226,4 million, a 148.8 percent increase to last year's first-half income of $91 million. The first half 2020 revenue was $951,3 million, up from $794,1 million in the first half of 2019.Igor Tonkovidov, President and CEO of SCF Group said Friday that the company had achieved its targets with an optimal balance of long- and short-term charter contracts…
World's First: Drone Brings Cargo to Offshore Production Platform
Norwegian oil company Equinor has successfully sent a drone carrying a 3D-printed cargo from shore to an offshore production platform in the North Sea in what the company says is a world's first.In a flight spanning around 80 kilometers from the Mongstad base onshore to the Troll field in the North Sea offshore Norway, the drone carried a 3D-printed part for the lifeboat system. The flight took one hour, at an altitude of approx.
Mauritius: No Oil Found in Dead Dolphins' Bodies
Dead dolphins that washed up in Mauritius near the site of an oil spill have so far been found to have wounds on their bodies but no trace of oil, preliminary autopsy results released on Thursday said.Environmentalists are urgently seeking an explanation for the mysterious deaths of 27 dolphins which washed ashore on Wednesday and Thursday, to determine whether they were killed by the spill. Scientists…
Argentina: Grains Port Workers Delay Strike
labor union representing Argentine grains port workers said on Thursday that it suspended a scheduled strike over wages after the government called for talks between the workers and their companies.The URGARA union, which represents inspectors who check the quality of grains before they are loaded onto ships, said the strike, previously set to begin on Friday, would hold off until an upcoming meeting scheduled by the government."In the framework of maintaining social peace…
Oil Dips as U.S. Rigs, Refiners Appear to Have Avoided Worst of Storm
Oil prices fell in early trade on Friday as a massive hurricane raced inland past the heart of the U.S. oil industry in Louisiana and Texas, with a storm surge weaker than predicted.U.S. West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.4%, to $42.85 a barrel as of 0014 GMT, adding to overnight losses.Brent crude futures for October, set to expire on Friday, fell 9 cents, or 0.2%, to $45.00 a barrel…
US Energy Exports Severely Disrupted by Hurricane Laura
Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S. Gulf Coast terminals and disruptions at ports.The hurricane also temporarily suspended operations at several liquefied natural gas (LNG) facilities in the world’s third largest exporter of the super-cooled gas…
Port of Houston Reopens as Hurricane Closure Lifted
The Port of Houston, the United States' largest energy export port, began reopening to commercial shipping on Thursday after a day-long closure due to Hurricane Laura, the U.S. Coast Guard said.Ports along the Texas and Louisiana coasts were closed as the Category 4 hurricane churned up the Gulf of Mexico and went ashore in Cameron, Louisiana, early Thursday. The storm brought hurricane winds and high seas to the region.The Port of Houston…
Hill Dickinson Managing Partner Patrick Hawkins Dead at 59
International maritime law specialist Hill Dickinson announced the death of Patrick Hawkins, head of its office in Greece.Hawkins died in the hospital on August 20, having suffered a heart attack in early July. His funeral took place in Athens on Monday.Announcing his death, David Wareing and Tony Goldsmith, heads of Hill Dickinson’s Marine and Trade Group, said, “It is with enormous sadness that we have to inform you of the passing of our much loved colleague Patrick Hawkins.
NATO Seeks to Avoid Accidents in East Med Dispute
NATO is looking at ways to avoid accidental clashes in the Eastern Mediterranean while supporting German diplomatic efforts to defuse the worsening dispute over energy resources there, the alliance’s chief said on Thursday.NATO Secretary-General Jens Stoltenberg told Reuters the Western alliance was considering so-called deconfliction measures to prevent naval accidents in an increasingly congested region, although he did not go into details.“I am also exploring the possibilities of NATO develop
ABS, LR Update Common Structural Rules Software
Common Structural Rules Software LLC (CSR), a joint venture company formed by ABS and Lloyd’s Register (LR), has updated its products to comply with the latest Rule Change Notice (RCN) from the International Association of Classification Societies.The CSR Prescriptive Analysis (PA) and CSR Finite Element Analysis (FEA) products have been updated to support users with creating designs that comply with the latest July 1…
US LNG Loading Delays Expected as Hurricane Slams Gulf Coast
Loadings of liquefied natural gas (LNG) cargoes from the United States likely will be delayed as a powerful storm strikes the heart of the U.S. oil and gas industry on the Gulf Coast, forcing several LNG plants to shut.Hurricane Laura made landfall early on Thursday in southwestern Louisiana as one of the most powerful storms ever to hit the state, with forecasters warning it could push a wall of water 40 miles (64 km) inland from the sea.
IHC Delivers New Dredge to Cameroon's Port of Douala
Royal IHC said it handed over the 3,000m³ trailing suction hopper dredger (TSHD) Mont Mandara to Cameroon’s Port Authority of Douala (PAD) on August 20. The delivery completes the PAD fleet, following its acquisition of an IHC Beaver 50 cutter suction dredger and a DMC workboat in 2019.The new TSHD is an IHC Easydredge from IHC’s standardized range of dredging vessels suited for common maintenance and land reclamation projects.
Frontline's Earnings Surge on Demand for Oil Storage
Oil tanker group Frontline reported a big jump in second-quarter earnings on Thursday as energy traders paid to store crude that went unsold amid the COVID-19 pandemic…
More Than 20 Dead Dolphins Found on Mauritius Beach Near Oil Spill
Seven more dead dolphins were found on a Mauritius beach on Thursday, a government official said, a day after 17 carcasses were washed up near an oil spill caused by a Japanese ship that struck a coral reef."We found seven more dolphins this morning in a state of decomposition," Jasvin Sok Appadu from the fisheries ministry told Reuters.Results from an autopsy conducted on the 17 dolphins found on Wednesday are expected on Thursday.The spill came from the Japanese-owned MV Wakashio…
MacGregor Bags 'Largest Single Vessel Order' in Offshore Wind Space
Deck machinery and equipment company MacGregor, a Cargotec subsidiary, has won what it says is its largest single vessel order.Namely, the vessel owner OHT has ordered a batch of MacGregor equipment for its under-construction offshore wind foundation installation vessel, Alfa Lift, being built at the China Merchants Heavy Industry shipyard in Jiangsu, China.Scope of supply includes the engineering…
Sailor Under Investigation for Arson in USS Bonhomme Richard Fire
A sailor is being investigated for arson in connection to the fire that raged for four days aboard the warship USS Bonhomme Richard in July, multiple sources report, citing anonymous U.S. Navy officials.Naval investigators are focused on one sailor from the ship, an official said, adding no motive has been determined and no one has been charged, according to the New York Times.“The Navy will not comment…
US Sanctions 24 Companies Over South China Sea Dispute
The United States on Wednesday blacklisted 24 Chinese companies and targeted individuals it said were part of construction and military actions in the South China Sea, its first such sanctions move against Beijing over the disputed strategic waterway.The U.S. Commerce Department said the two dozen companies played a “role in helping the Chinese military construct and militarize the internationally condemned artificial islands in the South China Sea.”Separately…
Greece Plans to Extend its Western Territorial Waters
Greece plans to extend the western limit of its territorial waters in the Ionian Sea to 12 miles, Prime Minister Kyriakos Mitsotakis said on Wednesday.Italy and Albania, who also have Ionian coasts, have been officially informed about Greece’s plans and a bill on the matter will be submitted to parliament soon, Mitsotakis said.“Greece will extend its western territorial waters to 12 nautical miles from six…
Interview: Heavy Lifting with John DiMartino and Tandemloc
Starting from his father’s basement in Bayport, New York, John DiMartino and his brother Bill have built a custom, heavy lift powerhouse in Tandemloc. It’s a story of building something from nothing; a story of plotting a path and adjusting for multiple course changes along the way. Ultimately, it’s a story of engineering ingenuity and heavy lift success.When John DiMartino graduated from SUNY Maritime in 1980 with a BS Marine Transportation Management…