Maersk Oil News

A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.Attacks in recent days on ships in the major Red Sea shipping route have raised the spectre of another bout of disruption to international commerce following the upheaval of the COVID pandemic, and prompted a U.S.-led international force to patrol waters near Yemen.The Red Sea is linked to the Mediterranean by the Suez Canal…

Denmark's Maersk said on Monday it has secured fuel for the world's first container vessel able to run on carbon-neutral methanol for its inaugural journey.Interest in methanol as an alternative fuel for bunkering has grown in the shipping industry, which seeks to achieve net-zero emissions by 2050.Below is a list of key upcoming methanol bunkering-related projects by companies and ports:COMPANIES:*A.P. Moller-MaerskMaersk has ordered 19 methanol-enabled ships to work towards a goal of transporting 25% of its ocean cargo using green fuels by 2030.

The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping on Tuesday announced its management team. to join CEO Bo Cerup-Simonsen in building an organization capable of facilitating the transition to a carbon free global shipping industry.Made possible by a DKK 400 million ($63.5 million) donation by the A.P. Møller Foundation, the Center was formed in June by a group of global shipping entities committing themselves to decarbonizing the maritime industry. The Center, which recently revealed its Board of Directors and a location at the heart of the Danish Shipping cluster in Copenhagen…

A Maersk oil tanker has been anchored off the coast of Malta for two weeks after rescuing 27 migrants, including a child and a pregnant woman, with authorities in Malta and Tunisia denying the vessel entry, the company said on Wednesday.The crew of Maersk Etienne, an oil tanker owned by Denmark's Maersk Tankers, rescued the migrants following a request from Maltese officials on August 4, the company said.The migrants' wooden dinghy that had been at sea for days sank immediately after the rescue operation…

Allseas’ heavy lift vessel Pioneering Spirit has completed a removal campaign of processing and accommodation topsides and flare jackets as part of the Tyra Redevelopment Project for Total E&P Denmark. "Over the last two weeks, Pioneering Spirit removed more than 27,000 tonnes of platform facilities from the North Sea’s Tyra gas field, transporting the structures to specialist yards in Denmark and the Netherlands for recycling," Allseas said Monday.The final two structures, flare jackets…

Maersk’s subsidiary Maersk Oil Trading has teamed up with Dutch liquid bulk storage operator Koole Terminals for the production of IMO 2020-compliant bunker fuel in the Port of Rotterdam.According to a Maersk statement, the production will take place at the Petrochemical Industrial Distillation (PID) unit, located at Koole’s Botlek site in the heart of the Port of Rotterdam. The toll distillation deal allows Maersk to produce VLSFO bunker fuel and will enable Maersk to further expand its bunker supply volumes in Europe.Annual production is expected to cover 5-10% of Maersk’s annual fuel demand.“The fuel manufacturing process allows Maersk to produce compatible low sulfur fuels that complies with the IMO 2020 sulfur cap implementation…

Tenaris has pushed the limits of its high pressure/high temperature (HP/HT) technology, and through precision in execution in testing, delivery, running and expert services, generated outstanding results for its work on Total’s Culzean project.According to the supplier of tubes and related services for the world's energy industry and certain other industrial applications the Culzean gas field is located in the challenging waters of the North Sea, about 145 miles off the coast of Aberdeen.The field began production in June and is anticipated, at peak, to provide five percent of the United Kingdom’s gas demand.Tenaris supplied TenarisHydril Blue Max and TenarisHydril Blue Heavy Wall connections…

“If consolidation was the solution to all that ails shipping, then container liner companies would be super profitable. They are not. In ‘commoditized’ sectors of the shipping industry, which by now includes pretty much everything apart from very small niche markets, there is hardly any economies of scale at the company level. As long as bigger is not in fact much better, then meaningful consolidation will not happen.”Dr. Roar Adland, visiting scholar at MIT Center for Transportation and Logistics and Professor at the Norwegian School of Economics (NHH).Like any other business…

Danish conglomerate A.P. Moller – Maersk informed that Claus V. Hemmingsen steps down as Vice CEO of the group. The company's energy division, which was headed by him, will also be shut down."The Energy division will close down latest by the end of June 2019, and Claus Hemmingsen will subsequently leave A.P. Moller – Maersk,  after nearly 40 years in service," said a company statement.The Group has successfully concluded the separation of Maersk Tankers, Maersk Oil and Maersk Drilling as part of the transformation initiated in 2016 to focus A.P. Moller – Maersk on becoming the global integrator of container logistics.The Board of Directors acknowledges Claus Hemmingsen’s dedicated and significant contribution to A.P.

Maersk and PBF Logistics LP announce agreement for production and storage of 0.5% sulphur fuel on the U.S. East CoastPBF Logistics terminal facility in New Jersey to deliver approx. 10% of A.P. Moller – Maersk’s annual fuel demand as Maersk continues preparations for the International Maritime Organization’s (IMO) 2020 global sulfur regulation.A.P. Moller - Maersk and PBF Logistics LP announced an agreement for Maersk to source and PBFX to process crude oil at CPI Operations LLC, a PBF Logistics LP terminal facility in New Jersey, United States.The agreement enables Maersk Oil Trading to supply IMO 2020-compliant 0.5% marine fuel to its customers on the US East Coast. Annual production will be around 1.25 million metric tonnes (mt), the equivalent of approx. 10% of A.P.

Top U.S. importers are stocking up on Chinese goods before new import tariffs take effect, shipping giant A.P. Moller-Maersk said on Wednesday, but warned a trade war would hit demand for container shipping in the coming years.Maersk's data indicated that imports into the United States from China had grown 5 to 10 percent year-on-year in the third quarter as companies such as Walmart and Home Depot built up inventories to avoid new import tariffs, Chief Executive Soren Skou said."The irony is that after (U.S.

Maersk Oil Trading has leased oil storage space in Singapore, signalling a push by one of the world's biggest ship fuel buyers into the Asian bunkering hub ahead of changes to global fuel standards from 2020, trade sources said.Maersk Oil has taken storage at the Tankstore oil terminal in Singapore, a spokesman for parent A.P. Moller-Maersk told Reuters, without giving further details.The firm has leased 120,000 cubic meters of space for fuel oil for six months, said three trade sources with direct knowledge of the matter.

French oil and gas major Total has agreed to take all of Chevron’s share capital in the Danish Underground Consortium (DUC), which will increase its stake in the project and expand its North Sea presence."Total has agreed to purchase from Chevron all the share capital of Chevron Denmark Inc. which holds a 12% interest in the Danish Underground Consortium (DUC), a 12% interest in Licence 8/06, and a 7.5% interest in the Tyra West pipeline. The transaction remains subject to approval of partners and the relevant authorities," said a press release from the company.The acquisition will increase Total’s operated share of DUC from 31.2% to 43.2%…

The International Maritime Organization (IMO) will not delay implementing a reduction in the amount of sulphur in marine fuel in 2020, an IMO official said on Tuesday."I can categorically say there will not be a delay," said Edmund Hughes, the head of air pollution and energy efficiency at the IMO, during the Asia Pacific Petroleum Conference (APPEC) in Singapore.IMO, the United Nations' shipping agency, will require that vessels start in 2020 using fuel oil with 0.5 percent sulphur…

A.P. Moller-Maersk, the world's biggest container shipping group, will add devices to reduce harmful exhaust emissions to some of its ships ahead of new global fuel regulations starting in 2020.To combat air pollution, the International Maritime Organization (IMO), the United Nations' shipping agency, has set global regulations to cap the sulphur content in marine fuels, known as bunkers, at 0.5 percent down from 3.5 percent now.Shipowners could meet the new regulations by installing sulphur-stripping exhaust cleaning systems…

A Maersk product tanker has become the third commercially operating vessel to be equipped with Norsepower Rotor Sail auxiliary wind propulsion technology.Two Rotor Sails have been installed on board the 109,647- DWT Long Range 2 (LR2) product tanker Maersk Pelican in the Port of Rotterdam, announced project partners Norsepower Oy Ltd., Maersk Tankers, Energy Technologies Institute (ETI) and Shell Shipping & Maritime. The ship is expected to commence its first voyage with its new sails shortly.At 30 meters tall by five meters, the Rotor Sails aboard Maersk Pelican are the largest in the world.

Solstad Farstad ASA (SOFF) has entered into a contract with Fairfield Industries Inc. for the CSV “Normand Tonjer”. The contract will commence in 3Q 2018 and has a duration of one year firm plus two yearly options.Fairfield will use the vessel to support their innovative worldwide ocean bottom seismic survey using node-based technology.Solstad Farstad has updated other contracts too. The key contracts in the subsea construction segment include Far Saga contract extension with Petrobras until 2Q’20,  Nor Australis awarded 3 months contract with Magseis for operations in Southeast Asia and  Normand Installer renewal of frame agreement…

Esvagt, the dedicated provider of safety and support at sea, has appointed Peter Lytzen as CEO with effect from 1 September 2018.Peter brings over 30 years’ experience and has held numerous senior positions in the offshore industry. Most recently, Peter was a member of the Executive Committee of Teekay Offshore and CEO of Teekay Petrojarl.Prior to this, Peter was Vice President of Maersk Drilling, responsible for their Floating Production activities, and Project Director at Maersk Oil for a number of projects in the North Sea. Peter has furthermore worked in the equity markets as senior advisor to Hayfin Capital Management.Jakob Thomasen, Chairman of Esvagt, comments, “We are pleased to welcome Peter to the Esvagt team.

A.P. Moller - Maersk and Royal Vopak, an independent tank storage operator active in the heart of Rotterdam’s bunker environment, have agreed to this first joint initiative which will cater for circa 20% of Maersk global demand, enabling A.P. Moller - Maersk to deliver approximately 2.3mt per year.As an anchor tenant in the modified facilities this agreement will enable Maersk, as well as any other interested third parties, to supply vessels trading with and inside Europe with compliant fuel. “We trust that this initiative will put to rest some of the concerns the industry has on fuel availability as well as secure our continued competitiveness in the market,” says Niels Henrik Lindegaard, Head of Maersk Oil Trading, a division of A.P.

A.P. Moller-Maersk said on Friday it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the Danish shipping company to focus entirely on transport and logistics.Maersk, which cut its full-year profit outlook this month, sold Maersk Oil to French oil major Total last year in a $7.5 billion deal as part of a restructuring under Soren Skou, who became chief executive in 2016.Skou used to head Maersk's container business and is a…

Sonatrach, Total, Repsol and Alnaft (the National Agency for the Valorisation of Hydrocarbon Resources), have signed a new concession contract for a period of 25 years to extend the exploitation of the Tin Fouyé Tabankort (TFT) gas and condensate field. This new contract, which will become effective upon the approval by the relevant Algerian authorities, will give Total a 26.4% interest alongside Sonatrach (51%) and Repsol (22.6%). The companies have also signed a gas marketing agreement. The partners will carry out the drilling and development investments required to develop additional reserves estimated at more than 250 million barrels of oil equivalent.

This year, Project Development International (PDi) Ltd., part of the Tattva Group, celebrates a decade of activity within the decommissioning sector. As a provider of multi-disciplined engineering, project management and project services to the international energy industry, PDi has worked with multiple clients since 2008, successfully completing more than twenty decommissioning workscopes.Recently shortlisted as finalists in the Excellence in Collaboration category at Decom North Sea’s inaugural decommissioning awards…

Semco Maritime has won the contract to upgrade the Floatel Victory accommodation rig. Following the upgrade, the rig will sail out to undertake a contract in the British sector of the North Sea for Maersk Oil UK. Floatel Victory, owned by Floatel International, is expected to call at the Semco Maritime rig yard at Hanøytangen, Bergen, at the beginning of June after expiry of current contract with BP. ”We are pleased that Floatel International has chosen us for the assignment. This is an important order for Semco Maritime’s rig yard at Hanøytangen.