C-NLOPB Updates Hebron Field Volume Estimate
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has approved the Development Plan Amendment (DPA) for the Hebron Field.The Hebron oil field is located offshore Newfoundland and Labrador, Canada, in the Jeanne d'Arc Basin 340 kilometers southeast of St. John's. The field was first discovered in 1980, and is estimated to produce more than 700 million barrels of recoverable resources.
Esgian: Rigs on the Move in Asia and Europe
This week Esgian’s Week 50 Rig Analytics Market Roundup notes developments in the semisub sector including that Shell has decided to exercise its option on Stena Don in the North Sea but not on Deepsea Bollsta in Namibia. Meanwhile, a new contract for the Transocean Barents will see it operate in the Black Sea, and jackup Shelf Drilling Perseverance will move to Vietnam.ContractsShelf Drilling has…
Singapore and Japan Agree Green Shipping Corridor
The Ministry of Transport of the Republic of Singapore (MOT) and the Ministry of Land, Infrastructure, Transport and Tourism of Japan (MLIT) have signed a memorandum of cooperation to establish the Singapore – Japan Green and Digital Shipping Corridor.Japan is one of Singapore’s top 10 trading partners, and the trade volume between the two countries totaled S$65 billion in 2022.Under the collaboration…
Recycling Market Sees Trickle of Deals
It is clear that sub-continent ship recycling markets are not going to have the bumper conclusion to 2023 that many had been hoping for, reports cash buyer GMS.“Instead, only a trickle of deals are being done to muted markets, as demand and sentiments continue to struggle for another week,” says GMS. “There was one further container deal done, amidst a last quarter flurry, but dry bulk supply has stalled as trading markets have enjoyed an unexpected spike…
US Destroyer Downs 14 Drones in Red Sea
U.S. guided-missile destroyer shot down 14 drones launched by Yemen's Houthis in the Red Sea on Saturday, the U.S. Central Command said in a statement."In the early morning hours of December 16 (Sanna time) the U.S. Arliegh Burke-class guided missile destroyer USS Carney (DDG 64), operating in the Red Sea, successfully engaged 14 unmanned aerial systems launched as a drone wave from Houthi-controlled areas of Yemen…
Suez Canal Authority Monitoring Tensions in Red Sea
Egypt's Suez Canal Authority said on Sunday it was closely monitoring the impact of tensions in the Red Sea after recent attacks by Yemen's Houthis on vessels in the southern part of the basin.Two major freight firms, MSC and CMA CGM, said on Saturday they would avoid the Suez Canal as Houthi militants stepped up their assaults.The authority is "closely following the consequences of current tensions," the body's chairman, Osama Rabie, said in a statement.
PNNL's New Research Vessel Launched
Seattle shipyard Snow & Company has launched a new 15-meter hybrid catamaran research vessel that will be operated by the Pacific Northwest National Laboratory.The plug-in hybrid research vessel, Resilience, will be delivered to the Department of Energy's (DOE) PNNL-Sequim marine research facility in 2024.The Incat Crowther designed vessel, equipped with both standard diesel engines and electric motors, will be the first hybrid vessel in the DOE fleet.
Shipping Industry Urges Caution on Use of Armed Guards on Red Sea Vessels
Shipping companies should use caution when deploying private armed guards onboard vessels sailing through the Red Sea and Gulf of Aden because of the risk of escalation amid growing attacks on ships, an industry advisory said on Friday.Yemen's Houthis have been attacking vessels in Red Sea shipping lanes in recent weeks and firing drones and missiles at Israel, saying they aim to support Palestinians as Islamist group Hamas and Israel wage war in Gaza.In an advisory issued on Friday by the shipp
Warship Rushes in to Investigate Suspected Pirate Attack off Somalia
A Spanish navy ship is sailing at full speed towards a Maltese-flagged commercial vessel that may have been hijacked by pirates off Somalia, the European Union's Somali counter piracy force said on Friday.If confirmed, it would be the first successful hijacking involving Somali pirates since 2017 when a crackdown by international navies stopped a rash of seizures in the Gulf of Aden and the Indian Ocean.EUNAVFOR's joint operations centre in Spain said it received an alert on Thursday about the "
Edda Wind Secures Green Financing for Newbuild Program
Edda Wind announced it has entered into a green term loan facility agreement for the pre- and postdelivery financing of four new commissioning service operation vessels (CSOV) under construction at Vard.The agreement is a €161 million green loan facility with Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, DNB Bank ASA and SpareBank 1 SR-Bank ASA, with expiry in 2029 and a profile of 12 years.
Vard Confirms Cable Layer Order
Norwegian ship designer and builder Vard on Friday announced it has signed a contract to construct a cable laying vessel for an undisclosed customer. The value of the contract is between EUR 200 – 250 million.The vessel is designed by Norwegian company Salt Ship Design AS. The hull for the vessel will be built at Vard Tulcea in Romania and outfitted and delivered from one of Vard’s yards in Norway in Q4 2026. Vard said it will announce further information about the contract at a later stage
Maersk to Pause All Container Ship Traffic Through the Red Sea
Danish shipping company A.P. Moller-Maersk will pause all container shipments through the Red Sea until further notice, a spokesperson for the company told Reuters on Friday."Following the near-miss incident involving Maersk Gibraltar yesterday and yet another attack on a container vessel today, we have instructed all Maersk vessels in the area bound to pass through the Bab al-Mandab Strait to pause their journey until further notice…
Yemen's Houthis Attack Two Ships with Missiles
Attacks from Houthi-controlled Yemen struck two Liberian-flagged ships in the Bab al-Mandab Strait on Friday, a U.S. defense official said, underlining the threat to vessels in shipping lanes being targeted by the Iran-aligned group.Danish shipping company A.P. Moller-Maersk said it would pause all container shipments through the Red Sea until further notice. German container line Hapag Lloyd said it was considering a similar move.A projectile…
Steel Cut on Seventh SunStone Infinity Cruise Ship
The steel cutting ceremony for the seventh and final vessel in the Infinity series of expedition cruise ships took place at the Haimen shipyard of China Merchants Heavy Industries (CMHI).The PC6 expedition cruise ship, yet to be named, will embark on a long-term charter upon its delivery, the ship is technically identical to the rest of the Infinity vessels.The Infinity-class newbuilds, featuring up to 95 passenger cabins…
MOL First Shipping Company to Issue 'Blue Bonds'
Mitsui O.S.K. Lines, Ltd. has decided to issue “blue bonds” through a public offering in Japan’s domestic market in January 2024, reportedly the world’s first blue bonds in the shipping industry, which refer to the guidance provided by the International Capital Markets Association (ICMA) and other organizations.The Blue Bond Framework developed for the issuance of the bonds will ensure that all uses of the bonds’ proceeds will contribute to a sustainable blue economy…
The Problem with Reducing Underwater Radiated Noise
If the global commercial fleet reduced its speed by 10%, it would reduce underwater radiated noise by 40%, but nothing’s ever that simple.The main thing holding the shipping industry back from reducing its underwater radiated noise (URN) is not a lack of appropriate technology. It’s argued that many of the technologies being implemented today to reduce fuel consumption also reduce noise. So, the noise reductions could essentially come at no net cost to the shipowner…
Achieving Digital Transformation in the Marine Industry
Like so many other industries in transportation, the marine industry is being challenged on multiple fronts—from a shortage of manpower and emerging digital technologies to sustainability requirements. In the face of these growing pressures, ship designers increasingly rely on digital transformation to stay competitive and deliver higher-quality products. Digital transformation offers many solutions across a ship’s lifecycle…
Congestion Plagues Brazilian Ports
Brazil is the world’s largest grain exporter, accounting for 24% of the world’s exports in 2022, and congestion has surged this year due to large harvests and low water levels in the Amazon River.“Congestion for ships loading grain cargoes at Brazilian ports has surged this year due to large harvests and low water levels in the Amazon River. Between January and November, the average waiting time reached 15 days…
Environmental Assessment Begins for Julimar Phase 3 Drilling and Subsea Installation
Australian regulator NOPSEMA has begun assessment of Woodside Energy’s environment plans for Julimar Development Phase 3 Drilling and Subsea Installation.The Julimar field is located in Western Australian waters about 170km north-west of Dampier.Woodside’s Phase 3 development will involve drilling up to four wells in the Julimar field and one well in the Penfolds prospect, along with the associated subsea installation.
Bid Round Raises Optimism in Brazil's Deep Water Industry
On December 13, 193 blocks were auctioned in Brazil’s oil and gas licensing round, signaling strong optimism for the industry, according to Wood Mackenzie.Highlights from these bid rounds included:• The total amount in bonuses was US$85 million• 44 blocks were acquired in the Pelotas Basin, a frontier area. Petrobras will operate 29 and Chevron 15• All Basins managed to attract bids, even Parana Basin• A single Brazilian operator…
