Oil rises 5% in second weekly gain on output cuts, demand hopes
Oil prices settled 5% higher on Friday in their second consecutive week of gains as U.S. producers cut production with the number of drilling rigs falling to a record low, and as more states moved ahead with plans to relax lockdowns intended to halt the coronavirus pandemic.The number of operating oil and natural gas rigs fell by 34 to an all-time low of 374 this week - reflecting data going back 80…
Olympia Harbor Days Festival and Tugboat Races Canceled
Olympia Harbor Days Festival and Tugboat Races, the 47th edition, has been canceled for 2020 due to health and safety concerns surrounding the coronavirus pandemic. The announcement comes from the Olympia Kiwanis Club Board of Directors after much discussion about how to keep the festival safe for all – from attendees and tugboat crews to vendors and volunteers. The festival was to be held Labor Day Weekend, September 4 – 6, 2020.
Tallink to Get $108 Mln Loan from Estonia
Estonia will give the Baltic Sea shipping firm Tallink, which has been badly hit by lockdowns, a 3-year loan of 100 million euros ($108 million), the government of the small EU member said on Friday.Tallink - which operates large ferries between Estonia and Finland, and from Latvia, Estonia and Finland to Sweden - is approaching its peak season of June-August with most of the countries around the Baltic closed to travelers because of the coronavirus pandemic.The firm's passenger traffic dropped
Sanmar Adds Tug in Izmit Bay
The first Advanced Variable Drive (AVDTM) tugboat with its unique application of hydro-mechanical hybrid propulsion in the marine segment, Bogacay XXXVIII provides towage services across a broad range of customers in Izmit Bay. Since her introduction into the Sanmar operated fleet on February 25, 2020, following its commissioning ceremony in at Sanmar’s Tuzla Shipyard, she has performed alongside her…
Damen Delivers Workboat to Inverlussa Marine Services
On March 30 in Hardinxveld, the Netherlands, Damen Shipyards Group handed over a Multi Cat 1908 named Patricia Matheson to Inverlussa Marine Services. The company, based on the Isle of Mull, Scotland, will operate the vessel in the aquaculture industry.Inverlussa Marine Service is one of Scotland’s leading workboat companies, supplying vessels to service contracts for amongst others, the offshore wind and fish-farming sectors, throughout the UK and Europe.
Coast Guard Academy Cadet Receives Fulbright Award
First Class Cadet Owen Gibson, a Civil Engineering major from the U.S. Coast Guard Academy, has received a Fulbright Award to pursue a two-year Master of Science degree in Water Resource Engineering and Management at the University of Stuttgart, Germany.Gibson’s Fulbright research project will focus on climate change and soil erosion models. The goal of his research is to develop a model for assessing coastal soil erosion rates.
Chinese Port Using Robots to Deploy Mooring Lines
A passenger port in Zhuhai, China has created a new solution using aquatic robots for long distance line deployment.Earlier this month, Zhuhai Jiuzhou Port carried out a series of typhoon-proof reinforcement work for their floating barges. The staff used a small self-powered jet pump device called Dolphin 1 to transport a traction rope, which was attached with the mooring line, to the opposite shore 230 meters away.After the traction rope was transported to the opposite shore…
Damen Hosts Digital Steel-Cutting Ceremony
Damen Yichang Shipyard in China recently hosted a different kind of steel cutting ceremony for a RoPax Ferry 6716 being built for the Government of Timor-Leste.Ordinarily, Damen would invite its clients and guests to attend the celebratory event, but the occasion on April 27 was marked by a digital gathering due to safety measures surrounding the global COVID-19 outbreak.Damen sales manager Gysbert Boersma said…
Port Hedland Iron Ore Shipments to China Up 10.6%
Australia's shipments of iron ore to China from the world's top export hub of Port Hedland jumped to 38.7 mln tonnes in April, data from the port authority showed on Friday.Shipments were up by 10.6% from a year earlier, although they shrank by 4.2% from March's figure of 40.43 million tonnes, the data showed.
Spanish Crude Oil Imports Fall to Six-year Low
Spanish crude oil imports fell 11.7% in the first three months of 2020 from the same period in the previous year, national oil and gas agency CORES said on Friday, as movement restrictions to stop the new coronavirus spreading sapped demand for fuel.Spain imported 5,063 kilotonnes of crude oil in March, 10.6% less than in the same month last year, CORES said.The quantity imported in the first quarter was the lowest for that period of the year since 2014, CORES said.(Reporting by Isla Binnie, Edi
Vietnam Protests Beijing's 'Fishing Ban' in South China Sea
Vietnam protested on Friday against what it calls China's unilateral fishing ban in the disputed South China Sea from May 1 to Aug.
Guyana's Liza Phase 2 on Track for First Oil in 2022
Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. said Thursday.Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO.Hess, a partner in the ExxonMobil-operated Stabroek block the Liza Destiny is operating, said Thursday that Liza Destiny would reach full capacity of 120,000 gross bopd in June.
Miura BWMS Secures USCG Type Approval
The U.S. Coast Guard Marine Safety Center issued a Ballast Water Management System Type Approval Certificate to Japanese company Miura Co., Ltd., after a detailed review of the manufacturer’s application determined the system met the requirements of 46 CFR 162.060.The treatment principle of the Miura HK-(E)R consists of filtration and UV treatment during uptake and UV treatment during discharge. This…
Euronav Sells 2005-Built VLCC for $38M
Tanker operator has sold its 2005-built Very Large Crude Carrier (VLCC) TI Hellas for $38.1 million.Euronav, based in Belgium, said Friday that a capital gain of around $1.6 million will be recorded in the current quarter from the sale of the VLCC:"The vessel will be delivered to her new owners at the end of May after completion of the current voyage. Euronav considers regular fleet rejuvenation an important function of vessel management in providing quality services to our clients…
Hyundai Heavy Sheds More Light on Tanker Order
South Korean shipbuilder Hyundai Heavy Industries has shared more details on its newly secured contract to build two crude oil carriers.The company had on Thursday issued a brief statement on the Korea Exchange sharing it had won contracts to build two tankers for a European client. The order value is 149,8 billion South Korean Won, or $122,2 million.In a subsequent release issued on Friday on its website…
