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Russia Shipping Oil to Asia in Chinese Supertankers
At least four Chinese-owned supertankers are shipping Russian Urals crude to China, according to trading sources and tracking data, as Moscow seeks vessels for exports after a G7 oil price cap restricted the use of Western cargo services and insurance.China, the world's top oil importer, has continued buying Russian oil despite Western sanctions, after Russian President Vladimir Putin and Chinese leader…
Lobsters Versus Right Whales
Lobsters versus right whales: The latest chapter in a long quest to make fishing more sustainableMaine lobster fishermen received a Christmas gift from Congress at the end of 2022: A six-year delay on new federal regulations designed to protect critically endangered North Atlantic right whales.The rules would have required lobstermen to create new seasonal nonfishing zones and further reduce their use of vertical ropes to retrieve lobster traps from the seafloor.
Russian Oil Revenues Falling Because of Price Cap -US Official
Russian oil revenues are falling due to the price cap that Western countries imposed on its crude oil shipments and, ahead of further caps on Russia's oil products, Europe is well positioned to manage any price pressures, a U.S. Treasury official said on Wednesday.The Group of Seven countries, Australia and the European Union will extend sanctions on Russia for its war in Ukraine by putting a price cap on its oil products, such as gasoline and diesel, on Feb.
Maersk Announces New Executive Leadership Team
Danish shipping giant A.P. Moller - Maersk on Tuesday announced a new organizational structure and a new executive leadership team.The changes are effective February 1, 2023 and follow the appointment of Vincent Clerc as CEO of A.P. Moller - Maersk effective January 1, 2023."The business has executed well during the past years, and we have a highly engaged and competent global team ready for the next miles of our transformation, Clerc said.
2023 Outlook: The Offshore Service Vessel Market
The market for offshore support vessels has been through a rather rough few years since offshore exploration and production activity took a nose-dive in 2015 following the oil price crash the year before.The newbuild order boom that came with the ever-greener pastures imagined in the industry ensured that not only was the supply- and demand balance off by an insurmountable degree in the years that followed…
Polar POD Project Enters Shipyard Construction Phase in France
Ifremer, Jean-Louis Etienne and the entire Polar POD team announced its construction by the Piriou shipyards in association with 3C Metal, under the direction of the project owner, Ifremer. The scientific program of this international oceanographic "station" is being overseen by the French National Centre for Scientific Research (Centre national de la recherche scientifique, CNRS), in partnership with the French National Centre for Space Studies (Centre National d'Etudes Spatiales…
Eni to Deploy FLNG Unit Offshore the Republic of Congo
Italian oil giant Eni has signed a contract with China's Wison Heavy Industry for the construction and installation of a floating liquefied natural gas (FLNG) unit with a capacity of 2.4 MTPA (million tons per annum). The FLNG will be deployed offshore the Republic of Congo.The 380-meter-long and 60-meter-wide vessel will be anchored at a water-depth of around 40 meters and will be able to store over 180,000 cubic meters of LNG and 45,000 cubic meters of LPG.
Dry Bulk: Capesizes Rates Top Five-month High
The Baltic Exchange's dry bulk sea freight index rose on Wednesday, as a jump in capesize segment to its highest since mid-July offsets a decline in rates for smaller vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, gained 127 points, or about 8%, to 1,723, its highest since Oct.
MSC Group Completes Purchase of Bolloré Africa Logistics
French conglomerate Bollore, run by the family of billionaire Vincent Bollore, said on Wednesday it had completed the sale of its Bolloré Africa Logistics arm to shipping company MSC Group.The Bolloré company added the transaction was on the basis of a 5.7 billion euro ($6.1 billion) enterprise value.“The Bolloré Group will remain strongly involved in Africa, notably through Canal+, and will also continue to develop on this continent its activities in many fields such as communications, entertai
Africa’s Ports Race Creates Pathways for Plunder
Ports have long been integral to Africa’s connectivity with the rest of the world. Yet over the last 15 years, a new stage in maritime infrastructure planning and development has begun. Between 2004 and 2019, over US$50 billion was spent on this infrastructure – roughly 13 times more than was spent between 1990 and 2004.Ports reflect more than simple economic imperatives. They are crucial in creating and reinforcing social, political, and cultural systems.
Baltic Dry Index Logs Best Day in Nearly Three Months
The Baltic Exchange's dry bulk sea freight index rose on Thursday to mark its biggest one-day percentage gain since mid-September, underpinned by a jump in capesize rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, gained 127 points, or about 9.1%, to 1,528 - its highest since Oct. 28.The capesize index climbed 372 points, or about 21.6%, to 2,095, its highest level since Oct.
Shell's 34,000t North Sea-bound Penguins FPSO Leaves Chinese Shipyard
Shell's Penguins FPSO has set sail from China loaded aboard Boskalis' White Marlin semi-submersible heavy transportation vessel.In a social media post on Thursday, Boskalis said: "Boskalis’ semi-submersible transport vessel White Marlin departed from Qingdao, China with an impressive cargo; the 34,000-ton cylinder-shaped Shell Penguins FPSO. After a smooth and safe float-on and [seafastening] campaign…
Westwood: Record Levels of FPS Throughput Capacity to be Sanctioned in 2022
As we enter the final month of 2022, a review of the floating production system (FPS) market revealed that some E&Ps have been bold with investments in the development of their oil and gas (O&G) reserves, with a total of 1.9 mmboepd (1.3 mmbpd of oil and 3.8 bcfd of gas) of FPS throughput capacity sanctioned year to date (YTD). This represents a 7% increase on 2021, with Westwood anticipating an additional 180 kboepd of FPS throughput capacity to be sanctioned before the end of the year.
Venezuelan Oil Exports Flow Using False Documents, Ships Linked to Iran
When the supertanker Young Yong sailed to the Chinese port of Qingdao in September last year, it had quality certificates for its cargo stating it was transporting Malaysian crude oil…
Fugro Expands Geotechnical Vessel Fleet
Dutch offshore survey company Fugro has expanded its geotechnical vessel fleet with the Fugro Quest vessel. According to Fugro, the vessel is equipped with advanced deep-water technology."Fugro uses this type of vessel to determine the exact composition of the soil; the resulting data are essential to establish the optimal location and design of offshore developments, such as wind farms," Fugro explained.The…
DOF Charters Havila Phoenix CSV. Wins Contracts in Atlantic Region
Offshore vessel operator DOF Group is pleased to announce multiple new contracts in the Atlantic region and the long-term charter of the construction support vessel…
Nigeria to Build its First FLNG Unit
Nigerian company UTM Offshore has signed a front-end engineering design (FEED) contract for the development of an FLNG facility in Nigeria with JGC Corporation, Technip Energies, and KBR.This will be Nigeria's first floating liquefied natural gas (FLNG) facility. Africa currently has two FLNG units in operation, the Hili Episeyo in Cameroon, and, as of recently, the Coral Sul FLNG in Mozambique. In Nigeria…
Detained Oil Tanker in Equatorial Guinea to Return to Nigeria
An oil supertanker accused by Nigerian authorities of attempting to illegally load crude before leaving its territorial waters is on its way back to the country, a Nigerian Navy spokesman told Reuters on Friday.At the request of Nigerian authorities, Equatorial Guinea detained the Heroic Idun, a vessel capable of carrying 2 million barrels of oil, on Aug. 17 for sailing without an identifying flag…
Bryton Marine Group Names McVitty as COO
Vernon, B.C. based Bryton Marine Group, parent company to a group of aluminum boatbuilding firms, announced it has hired Stuart McVitty as chief operating officer.McVitty will be responsible for developing performance goals and long-term operational plans as well as maximizing efficiency through extensive process analysis and intercompany collaboration. He will work with the CEO Byron Bolton and the…
Dutch Coast Guard Gets Two Bristow Helicopters for SAR Operations
Helicopter services firm Bristow Group said Friday it was embarking on a new 10-year relationship with the Dutch Coastguard, delivering helicopter SAR operations for people and communities across the country through its affiliate, Bristow Netherlands B.V."At 1 p.m. Central European Time on November 4, 2022, two new custom-designed SAR bases officially went on-line at Den Helder and Midden Zeeland Airports…
Maritime Piracy
Houthi Rockets Wreak Havoc on Middle East Container Shipping
Narco-Submarines: The Hidden Depths of Drug Trafficking
Drug Smuggling on Ships and Submarines: An Escalating Threat
Maersk revises profit forecast upwards due to robust demand and disruptions in the Red Sea.
Global Shipping Carriers Are Feeling the Impact of the War in Ukraine and the Middle East
Maritime Piracy in the Horn of Africa:
Houthis Declare All-Out War on Israeli Shipping, Vowing to Strike Beyond Red Sea
Injustice at Sea: Greek Court Drops Charges in Deadly Migrant Shipwreck
