BP Deepwater Horizon Costs Balloon to $65 Billion
BP said on Tuesday it would take a new charge over the 2010 Deepwater Horizon spill after again raising estimates for outstanding claims, lifting total costs to around $65 billion. The post-tax, non-operating $1.7-billion charge BP will take in its fourth quarter results came after claims resolved in recent months were about seven times higher than anticipated, the London-based company said. The claims…
Adani Adds Two New Dredgers to Its Fleet
India’s largest private multi-port operator Adani Ports and Special Economic Zone Ltd (APSEZ) inaugurated two new 8,000m3 trailing suction hopper dredgers (TSHDs) on January 8. Both dredgers were built by Royal IHC in The Netherlands and recently arrived at Adani’s Hazira Port in Gujarat, India, after their maiden voyage through the Suez Canal. The vessels are the 11th and 12th dredgers supplied by Royal IHC to APSEZ and are among the largest in the Indian fleet of TSHDs.
Japan: Little Chance Sanchi Oil Slick Reaches Its Coast
Japan sees little chance of the oil spill from a stricken Iranian tanker that sank on Sunday in the East China Sea reaching its shores, an official at the nation’s environment ministry said on Tuesday. The large tanker Sanchi (IMO:9356608) sank in the worst oil ship disaster in decades and produced a large oil slick, Chinese media and Japanese authorities said on Monday, as worries grew over damage to the marine ecosystem.
Chinese Sub near Disputed Islands Stokes Tension with Japan
Japan’s defense minister criticized China on Monday for sailing an advanced stealthy nuclear submarine close to disputed islands claimed by Japan and China, saying the action had stoked tension. The submarine, which Japan detected in the East China Sea, was a 110 meter-long Shang-class vessel, which is able to dive deeper and for longer than older boats and is armed with torpedoes and anti-ship missiles, according to Japan’s Ministry of Defence.
Capesize Rates Pull Baltic Index to 4-month Low
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a more than four-month low on Tuesday, as capesize rates dropped to their lowest since August last year. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, lost 43 points, or 3.4 percent, to 1,221 points, the lowest since Sept. The capesize index fell 221 points, or 9.91 percent, to 2,010 points, its lowest level since Aug. 10 last year.
First Containership Receives LR Cyber Notation
The newly built containership MV COSCO Shipping Aries, recently delivered to COSCO Shipping Lines, is the first ever containership to receive Lloyd’s Register’s (LR) cyber-enabled ship (CES) descriptive note “Cyber AL3 SECURE PERFORM” for its energy management system. The 20,000 TEU ship was built by Nantong COSCOS KHI Ship Engineering Co., Ltd (NACKS). “MV COSCO Shipping Aries is the first 20K TEU level ultra large containership built in Chinese shipyard owned by COSCO Shipping Container Lines.
Coast Guard Medevacs Cruise Ship Passenger
The U.S. Coast Guard has medevaced a 57-year-old man from the cruise ship MSC Divina approximately 110 miles west of Great Inagua, Bahamas, Monday. Watchstanders at the Coast Guard 7th District Command Center received a request for a medevac from the cruise liner for a passengers reportedly suffering from stroke-like symptoms, and directed the launch of a Coast Guard Air Station Clearwater MH-60 Jayhawk helicopter crew to assist.
62 Barges Break Free on Ohio River
More than five dozen barges have reportedly broken free due to ice and high water at two separate locations on the Ohio River. So far 59 of the 62 breakaway barges have been recovered…
India's Oil Imports Surged in 2017
India's oil imports rose by about 1.8 percent in 2017 to a record 4.37 million barrels per day (bpd) as the country boosted purchases to feed its expanded refining capacity, ship-tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. To meet its growing fuel demand India, the world's third-biggest oil consumer, raised its refining capacity in the second half of 2017.
Maersk, IBM to Launch Blockchain Joint Venture
The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy. Success of the platform, which will be made available to the ocean shipping industry around mid-2018…
Cheniere Signs 15-year LNG Supply Pact with Trafigura
U.S. natural gas producer Cheniere Energy Inc said on Tuesday Singapore-based commodity trader Trafigura Pte Ltd would buy about 1 million tonnes of natural gas per year from its unit for 15 years, starting 2019. The agreement with Cheniere Marketing, LLC would help the Houston-based company to fund its expansion plans, Chief Executive Jack Fusco said. The company has been expanding its presence in Asia to benefit from the rising demand for liquefied natural gas from the region.
Petrobras: Fire Contained on Platform in Lula Field
Brazil's state-controlled oil company Petróleo Brasileiro said on Tuesday a fire at a platform in the Santos Basin was contained and did not cause injuries or environmental damage. Production there remains halted until safety tests can be completed, the company said. The fire was discovered early on Tuesday on a floating production storage and offloading (FPSO) unit in the Lula Field. The unit is operated by Petrobras in consortium with Royal Dutch Shell and Petrogal .
Norway Awards 75 Oil Exploration Licenses
Norway's energy ministry has awarded 75 offshore exploration blocks to oil companies in a so-called predefined areas (APA) licensing round, handing out acreage to 34 firms, of which 19 got at least one operatorship, it said on Tuesday. A total of 39 firms had applied for the offered acreage, up from 33 companies that applied in the previous round a year ago, when the ministry awarded 56 exploration licenses.
Norden Boosts Earnings Expectations
Danish shipping firm Dampskibsselskabet Norden A/S said its unaudited and preliminary results indicate an adjusted result for 2017 in the range of $20 million to $35 million, up from previous expectations of -$10 to $30 million. Norden said the anticipated earnings improvement is a result of a stronger than expected performance in the fourth quarter of 2017 in both the tanker business and dry cargo business, including the dry operator.
DNV GL Launches Project to Test Biodegradable Lubricants
Classification society DNV GL has launched a new joint development project (JDP) in cooperation with marine insurers The Swedish Club, Norwegian Hull Club, Gard and Skuld to test the potential influence of Environmentally Acceptable Lubricants (EALs) on failures in stern tube bearings. DNV GL will oversee detailed laboratory testing of EALs by Leonardo Testing Services Ltd. at the University of Sheffield (UoS), UK.
Algeria Inks Deal with Vitol to Cut Fuel Imports
Algeria's state energy company Sonatrach said it has signed a deal with oil trader Vitol to send crude abroad for refining as the country seeks to reduce a record fuel import bill. CEO Abdelmoumen Ould Kaddour said Sonatrach would pay processing costs before bringing refined fuel back to Algeria, and said it was also negotiating to buy shares in a foreign refinery, but did not give details. "Our goal is to reduce our imports of gasoline…
Shell Announces Plan for Penguins Filed Redevelopment
Shell announced the final investment decision for the Penguins field redevelopment project in the U.K. sector, which includes the construction of a new-build Sevan…
MOL Acquires Seafarers Manning Company
Japan's Mitsui O.S.K. Lines (MOL) has announced that MOL acquired 100% of the issued shares of Azalea Maritime B.V. on December 21st, 2017. Azalea Maritime changed…
Lauritzen Reflags Two Gas Carriers to Denmark
Lauritzen Kosan has reflagged two of its ships to Denmark for the first time since 2003. The registers of the two vessels, the Helena Kosan and the Linda Kosan,…
Port of Rotterdam: 2017 in Review
Over the past year, 29,646 seagoing vessels entered the port of Rotterdam, up more than 600 from 2016's 29,022. The number of incidents in the port fell from 159 to 129…
