Indonesia Eases Coal Export Ban
Indonesia allowed 14 vessels loaded with coal to depart as soon as they secure verifications from mining and transport authorities, a senior minister said on Monday, easing an export ban by the world's top thermal coal exporter.The export suspension on Jan. 1 came after state power utility PLN reported critically low inventory levels of the fuel, sending global coal prices higher last week and prompting calls by Japan…
VIDEO: Bluewater's UK-based FPSO Arrives in Norway for Upgrades
Bluewater's Haewene Brim FPSO, normally used for oil production from Shell's Pierce Field in the UK North Sea, has recently arrived in Haugesund, Norway.Norwegian engineering and construction Aibel shared a video of the FPSO arrival in Haugesund, towed by a Maersk Supply Service vessel. In Norway, the Haewene Brim FPSO, built in 1996, will undergo upgrades and life extension work.While at Aibel's yard…
Yara Seeks Tech Start-Ups for its Accelerator Program
Yara Marine Technologies is accepting applications for the second edition of its 3-month tailored startup accelerator program, Yara Marine X, a program that offers companies a opportunity to develop and pilot their innovative solutions while supported by Yara Marine.To apply for Yara Marine X, Click Here.“We are committed to enabling a clean transition to a decarbonized future. We are innovators at heart and always pursuing the improvements we need to make real sustainable change…
Rystad: FPSO Contracts in 2021 Hit Pre-Pandemic Levels. Ten New Orders Expected in 2022
According to Rystad Energy research, the market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic's effect in 2021, driven mostly by Brazil demand, and is predicted to continue apace in 2022, with 10 new awards expected.Two lease contracts were awarded in the fourth quarter of 2021, bringing the total for the year to 10 – up from just three in 2020 – a strong rebound for the FPSO market.Per Rystad…
Egypt Closes Two Mediterranean Ports Due to Bad Weather
Egypt closed the two Mediterranean ports of Alexandria and Dekheila on Monday as a result of bad weather, the Alexandria Port Authority said in a statement.The ports will remain closed until the weather improves, the authority said.The ports are among the largest in Egypt and each can handle up to 1 million 20ft-equivalent units (TEUs). (Reporting by Ahmed Salem; writing by Sarah El Safty; editing by Jason Neely)
HII Launches Amphibious Transport Dock Richard M. McCool Jr. (LPD 29)
Huntington Ingalls Industries’ (NYSE: HII) Ingalls Shipbuilding division launched the amphibious transport dock Richard M. McCool Jr. (LPD 29). Richard M. McCool Jr., the 13th LPD in the San Antonio class of amphibious assault force ships, will support U.S. amphibious assault, special operations and expeditionary warfare missions through the first half of the 21st century.“The LPD class ships, like all of our programs, are critically important to U.S.
Rolls-Royce Completes Sale of Bergen Engines
Rolls-Royce said it has completed its sale of Norwegian maritime engine business Bergen to U.K.-based Langley Holdings.The deal, first announced in August, is part of Roll-Royce's wider disposal plan to help repair its finances damaged by pandemic. Rolls-Royce received a consideration of €91 million, plus €16 million of cash held within Bergen Engines that it retained.Rolls-Royce had previously agreed…
The Shearer Group Promotes Two
Naval architecture and marine engineering firm The Shearer Group, Inc. (TSGI) announced it has promoted two members of its team.The Houston-headquartered designer of inland towboats, ferries, workboats, marine construction equipment and barges said on Friday it has promoted Joshua S. Sebastian, P.E. to the position of vice president – operations and Harrison C. Brann, P.E. to engineering manager.Sebastian, a 13-year veteran of the firm, has served as TSGI's engineering manager for eight years.
DP World to Build Dry Port in India's Jammu and Kashmir
Dubai ports giant DP World is set to build an inland port in Jammu and Kashmir as part of plans by the emirate to invest in the Indian territory, the head of the region said on Thursday.The Indian government last year said Dubai, part of the United Arab Emirates (UAE), would invest in infrastructure and other projects in the disputed region claimed by India and Pakistan but ruled in parts by both.Jammu and Kashmir Lieutenant Governor Manoj Sinha…
Gas Gap in Europe Drives US LNG Exports to Record High
Sky-high European demand drove U.S. liquefied natural gas (LNG) exports to a record in December, Refinitiv data showed, with winter supply worries set to sustain orders for the fuel.About half of the record U.S. LNG volumes shipped last month went to Europe, up from 37% earlier in 2021, data from Refinitiv and the U.S. Energy Information Administration showed.The gains reflected soaring demand for the home heating and industrial fuel that pushed prices in Europe and Asia to record highs.
Baltic Dry Index Edges Lower
The Baltic Exchange's dry bulk sea freight index edged lower on Friday, as a decline in panamax and supramax vessel rates outweighed gains in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 7 points to 2,289.The index has risen more than 3% this week, after posting two straight week of losses.The capesize index rose 76 points, or 3.2%, to 2,432.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron
New Management at Aibel's Haugesund Yard
Norway;s Aibel has announced a pair of leadership appointments at its yard in Haugesund.The company said Friday that Lars Inge Hellestveit will take up the role of vice president of yard operations, joined by Hans Jørgen Alfsen as the yard's new fabrication manager. Both will enter the new roles with immediate effect.Hellestveit comes from the position as project manager for the upgrade of the Njord Bravo floating storage unit (FSU)…
Danish Frigate Releases Suspected Gulf of Guinea Pirates
The Danish navy has released three suspected Nigerian pirates who were picked up by a frigate in the Gulf of Guinea in November after it failed to find a country in the region to take them, the Danish Armed Forces said on Friday.The three, who had been detained aboard the frigate Esbern Snare, were put to sea on Thursday in a small dinghy with enough food and fuel for them to reach shore safely to shore."They have no relation to Denmark…
The Latest Supply Chain Snafu: Shortage of McDonalds French Fries in Japan
While the supply chain mess has left consumer globally wanting for everthing from cars to treadmills, the latest hit is arguably the worst: a shortage of McDonalds french fries in Japan's roughly 2900 branches!Japanese customers will have to settle for a small serving of McDonald's fries for the next month or so after the fast-food chain said it was limiting portions due to shipping problems.
China Steel Hopes Drives Iron Ore Demand
Dalian iron ore rose on Friday and advanced nearly 6% this week as traders returned from New Year holidays feeling optimistic about potential demand recovery in top steel producer China.Iron ore's most-active May contract on China's Dalian Commodity Exchange ended daytime trading 1.4% higher at 719 yuan ($112.78) a tonne, rising for a fourth straight session and touching 725.50 yuan earlier in the day, its highest since Oct.
Insights: How Indonesia, the World's Top Thermal Coal Exporter, Hit a Supply Crunch
Indonesia, the world's biggest thermal coal exporter, sent shockwaves through global energy markets this week by suspending exports of the fuel in January due to critically low coal supplies at domestic power plants.WHY DID INDONESIAN AUTHORITIES DECIDE TO ACT?Coal makes up around 60% of Indonesia's energy mix and its energy ministry said by the start of 2022 only 35,000 tonnes of coal had been delivered…
Opinion: Let's Get the Plastic Out of Our Lives (& Waterways)
A confession. I'm part of a very big problem that's easy to ignore. Last year, I contributed the U.S. average-per-person 300 pounds of plastic garbage to wherever it went after convenient curbside pickup. So out of sight, out of mind, right? Not really, but does it matter? Yes, it does.In a fascinating recent report, the National Academy of Sciences, Engineering, and Medicine politely told us that…
Eni Extends BW Offshore's Abo FPSO
Italian oil company Eni has extended its contract for BW Offshore's Abo floating production storage and offloading (FPSO) vessel for another year.The FPSO's owner BW Offshore said Thursday it has signed the extension with Eni's subsidiary Nigerian Agip Exploration.Under the extension, the FPSO, used for production from the Abo field offshore Nigeria, will remain on the contract until the end of the fourth quarter of 2022, with options until the second quarter of 2023.
Nordic Shipholding Sells Its Final Three Tankers
Ailing Danish shipowner Nordic Shipholding is one step closer to closing its doors after announcing the sale of its final three tankers. The company revealed on…
Hurtigruten Cuts Short Antarctic Voyage After COVID Outbreak
Norwegian cruise and travel operator Hurtigruten Group will cut short a voyage in the Antarctica region following an outbreak of the coronavirus, the company said on Thursday.Ten people on board the MS Roald Amundsen cruise vessel had tested positive for COVID-19, and the ship will return to port in Chile two days ahead of schedule, said a spokesperson for Hurtigruten Expeditions, a subsidiary of Hurtigruten Group.The ship…
