ExxonMobil Makes Two Oil Discoveries Offshore Guyana. Liza Unity FPSO on Track for First Oil in 1Q
Oil and gas major ExxonMobil on Wednesday announced two new oil discoveries offshore Guyana, at Fangtooth and Lau Lau wells, adding to previous recoverable resource…
Sun Feng Takes the Helm at China Classification Society
Sun Feng formerly a CCS vice president, was named Chairman and President, taking over from Mo Jianhui, who retired.In a handover ceremony at CCS headquarters in Beijing, Sun paid tribute to Mo, praising his contribution to CCS.“Mr. Mo oversaw the rapid growth of our classed fleet, an expanded global network and he helped increase our international presence and influence, we thank him for all the success he helped deliver,” he said.
Uniper CEO: Nord Stream 2 Approval Could Come in mid-2022
The Nord Stream 2 pipeline, which is to transport Russian gas to Germany, could get approved in the middle of the year, the CEO of one of the project's financial backers told a newspaper.The pipeline, led by Russia's Gazprom, has been completed since September and is waiting for final certification by the German network agency, which has said that no decision would be taken in the first half of 2022.This…
Fred. Olsen Windcarrier Reels In $90,5M in New Contracts
Offshore wind installation firm Fred. Olsen Windcarrier (FOWIC) said Tuesday it had recently executed three new contracts and reservation agreements with combined revenue of up to 80 million euros (~$90,5 million).The contracts, with undisclosed clients, will cover around 300 days in 2022 and 200 days in 2023, in both Europe and the Asia Pacific.Two contracts are linked to projects where Fred. Olsen Windcarrier is already involved.
Indonesia Talks on Coal Exports Put Off as Scores of Ships in Limbo
Indonesian authorities on Wednesday postponed a meeting with coal miners to discuss a ban on coal exports, as scores of ships moored off the coast due to load remained in limbo.The world's top exporter of thermal coal and China's largest overseas supplier on Saturday announced a ban on exports in January to avoid outages at its own generators.The ban sent thermal coal futures in China surging reflecting…
Kalmar, Coast Autonomous in Robotic Solutions Pact
Kalmar, part of Cargotec, has signed a joint development agreement with Coast Autonomous Inc. to accelerate the development and launch of robotic solutions across the mobile equipment offering. Kalmar has also become a minority shareholder of Coast Autonomous.The joint development agreement and investment in Coast Autonomous follows the introduction of Kalmar Robotic Portfolio - a future range of intelligent…
AET Takes Delivery of New Shuttle Tanker for Shell Charter in Brazil
Tanker operator AET has taken delivery of Eagle Campos, the first of another three Suezmax Dynamic Positioning (DP2) Shuttle Tankers purpose built for long-term charter to Brazil Shipping I Limited, a subsidiary of Shell.Shuttle tankers are used for the offloading and transporting oil from offshore oil installations.AET struck a deal with Shell in December 2019 to operate these three Suezmax DP2 shuttle…
New Wind-assisted River Cargo Ship Design Unveiled
Ship design and engineering firm Conoship International Projects said it has developed a new 3,600 dwt general cargo vessel suited for sea-river operations, which it says will provide major fuel savings and environmental advantages. Equipped with a diesel-electric propulsion system, enlarged propeller in combination with a ConoDuctTail and optimized hull lines, its fuel consumption will be best in class, especially in wind and waves.
Piraeus Bank to Sell Bad Shipping Loans to Davidson Kempner Unit
Piraeus Bank, one of Greece’s four largest lenders, said on Tuesday it had reached a deal to sell a portfolio of non-performing shipping loans to an entity affiliated with Davidson Kempner Capital Management.The agreed price will be about 53% of the portfolio’s gross book value of 400 million euros ($452 million), the bank said.The sale of the portfolio, dubbed project Dory, is subject to approval by the Hellenic Financial Stability Fund, a shareholder in Piraeus Bank, the lender said.The transa
COVID-19 Infects 214 on Five Cruise Ships in Brazilian Waters
Five cruise ships in Brazilian waters have reported 214 cases of COVID-19 among their crew and passengers, including two ships that are in quarantine in the port of Santos, health regulator Anvisa said on Tuesday.Two ships run by the Swiss-Italian cruise line MSC Cruises, each with more than 3,000 passengers are due to arrive in Rio de Janeiro and Santos this week, the regulator said.The MSC Seaside arriving on Thursday in Santos has reported 65 cases among crew members and 25 among passengers…
Tidewater Appoints Cougle to Its Board of Directors
Offshore vessel owner Tidewater on Tuesday announced the appointment of Melissa Cougle to its Board of Directors, effective immediately. Cougle most recently served…
Pyxis Sells Two Small Product Tankers
Pure play product tanker company Pyxis Tankers on Tuesday announced that it has agreed to sell the Northsea Alpha and Northsea Beta, two 2010 built 8,600 dwt product…
HII Appoints Mulherin VP of Contracts at Newport News Shipbuilding
Huntington Ingalls Industries (NYSE:HII) announced that Matt Mulherin Jr. has been promoted to vice president of contracts at its Newport News Shipbuilding division. Mulherin succeeds Christie Thomas, who has been appointed corporate vice president, investor relations.Mulherin will have overall responsibility for contracts, pricing, and export/import licensing and compliance for Newport News. He will report to Don Godwin…
Baltic Dry Index Edges Up from 8-month Low
The Baltic Exchange's dry bulk sea freight index rose on Tuesday, crawling away from a more than eighth month low, helped by strong demand for capesize and panamax vessels.The overall index, which factors in rates for capesize, panamax and supramax vessels, gained 68 points, or 3.1%, to 2,285, snapping a 12 session losing streak.The capesize index rose 38 points, or 1.6%, to 2,350.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, increased by
Fred. Olsen Windcarrier Upgrades Brave Tern with 1600t Crane
Fred. Olsen Windcarrier (FOWIC) said it is upgrading another one of its vessels with a new larger crane to install foundations and all known next generation offshore wind turbines.The company announced on Tuesday it has executed a firm contract with Huisman for a second 1,600t crane to upgrade Brave Tern. Installation is scheduled to be completed in 2024.Alexandra Koefoed, CEO, Fred. Olsen Windcarrier…
Indonesia Coal Crunch Continues, Some Firms Declare Force Majeure
Indonesia's coal supply situation remains critical, the state utility said, following the country's ban on exports of the fuel that drove up prices in top customer China on Tuesday.Indonesia, the world's top exporter of the coal used in power plants and China's largest overseas supplier, on Saturday announced the ban on exports during January to avoid outages at domestic generators. Indonesian authorities are set to reexamine the export ban on Wednesday.Late on Monday…
FSRU: Morocco Picks Mohammedia for Potential Floating Gas Facility
Morocco has invited bids to perform a study for the upgrade of Mohammedia port near Casablanca to host a liquified natural gas (LNG) floating storage and regasification unit (FSRU), the Moroccan ports agency said on Tuesday.The deadline for bids has been set at Jan. 25, the agency said on its website.Energy minister Leila Benali last month said that her department was examining financial and gas supply…
Shipbuilding Contract Signed
Jianglong Shipbuilding Co. Ltd. signed a shipbuilding contract worth $27.8 milliion with H Ferry Co. Ltd. No additional details on the contract were readily available.Jianglong…
China Ramps Up LSFO Production 30%, backing Bunker Fuel Hub Ambitions
China more than halved the volume of export quotas for refined fuel, predominantly gasoline, diesel and aviation fuel, under the first allotment for 2022, while raising the allowances for low-sulphur fuel oil by 30%, industry sources said on Tuesday.The deep cuts to refined fuel, largely expected by the market, was in line with the Chinese government's recent policy to curb excessive domestic refinery production amid a broad plan to reduce carbon emissions…
Navtor to Acquire Ingenium Marine
Navtor has inked a deal to acquire Ingenium Marine, a transaction subject to execution of definitive agreements. Once completed, Ingenium will become a fully integrated Navtor company and continue to operate from Mumbai, India, and Navtor will integrate digital logbooks into its e-Navigation and performance product portfolio. According to Navtor CEO Tor Svanes, this latest move will “transform the way the industry views traditional log-keeping…
