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Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices
Russia announced on Friday a decree that seizes full control of the Sakhalin-2 gas and oil project in the country's far east, a move that could force out Shell and Japanese investors and adds another bullish factor to prices in a tight global LNG market.The order, signed on Thursday, creates a new firm to take over all rights and obligations of Sakhalin Energy Investment Co, in which Shell SHEL.L and two Japanese trading companies Mitsui and Mitsubishi hold just under 50%.
Van Oord Orders Two Water Injection Dredgers
Dutch shipbuilder Kooiman Marine Group said it has secured a contract from Dutch dredging and marine services firm Van Oord to build two Water Injection Dredgers (WID) for delivery scheduled in the first half of 2024.The order follows the previous deliveries of the WIDs Maas and the Mersey delivered in mid-2021."The new vessels will have the same specifications, supplemented by innovative optimizations.
Biden Administration Offshore Drilling Plan Delayed
The Biden administration on Thursday delayed the rollout of a proposed five-year offshore oil and gas development plan that had been promised by the end of the month, according to sources.Interior Department Secretary Deb Haaland in May had vowed to unveil the draft proposal ahead of the June 30 expiration of the current plan. The department will not be able to hold any offshore oil and gas lease sales…
Obituary: Captain Brian A. McAllister Passes Away
Capt. Brian McAllister, a prominent member of the American maritime industry and a true New York area maritime industry icon, has passed away.The following was posted on the mcallistertowing.com website:"It is with heavy hearts that we announce the passing of our beloved Captain. Brian, who changed the future of McAllister Towing when he bought the company with his brothers and cousins, passed away peacefully this morning at his home.
Xeneta says Long-term Container Shipping Rates to Rise Again
It’s been another bumper month for long-term contracted ocean freight rates, as the cost of securing container shipments climbed by 10.1% in June. Following on the heels of a record 30.1% hike in May, this now means rates stand 169.8% higher than this time last year, with just two months of declines in the last 18 months. Despite a degree of macro-economic uncertainty clouding the horizon, all major trades saw prices moving up…
Biden Drilling Plan May Exclude All Waters Beyond Gulf of Mexico
The U.S. Interior Department has recommended to the White House that all federal offshore oil and gas drilling auctions over the next five years be located in the Gulf of Mexico, where the drilling industry has already been focused for decades, according to two sources familiar with the matter.The recommendation to exclude all other waters from offshore oil and gas development comes as U.S. President…
Union Talks at West Coast Ports Going Well, US Labor Secretary Says
Talks to reach a new contract with union workers at West Coast shipping ports before the existing deal expires this week are going well with no major sticking points, U.S. Labor Secretary Martin Walsh told Reuters on Tuesday.The current contract covering more than 22,000 port laborers at 29 West Coast ports expires on July 1. Retailers, farmers and other U.S. shippers worry that any breakdown in the…
Chlorine Gas Leak Kills 12, Injures 251 at Jordan Port
At least 12 people died and 251 were injured in a chlorine gas leak from a storage tank at Jordan's Aqaba port, officials and state media reported on Monday.The leak came after a tank filled with 25 tonnes of chlorine gas being exported to Djibouti fell while being transported, officials said.A video posted on state television's Twitter page showed a storage tank falling from a winch and slamming into the deck of a ship, followed by yellow-colored gas rising into the air as people ran away.Healt
Backhoe Dredge Arrives in Port Hedland
A Hall Contracting backhoe dredge arrived in Port Hedland last week.Due to its low clearance hull design, the dredge was transported from the Middle East on board a semi-submersible heavy load carrier.After arriving at anchorage, the heavy load carrier was submersed, allowing the dredge to float off.Now anchored at the Port of Port Hedland, prep work is underway on the dredge before dredging works commence at the Spoilbank Marina in early July.Over the next few months…
Maersk Sees No Let Up In Surging Cost of Shipping Goods
The cost of shipping goods has surged 25-30% since the start of the pandemic due to array of inflationary pressures that are "unlikely to abate in the short term," world No.
Tankers Divert to Trinidad, Maryland After Freeport LNG Blast
At least six tankers set to load liquefied natural gas (LNG) at Freeport LNG this month have been diverted following the June 8 blast that shut the Texas facility…
Where Failure is Not an Option
Naval vessels cannot afford to lose critical systems following an impact. Brian Stanton, North America Engineering Lead at Parker Hannifin's Gas Turbine Division, talks about the extensive testing required for inlet filtration systems used on these ships.Inlet filtration used for critical ship systems, such as on the propulsion gas turbines, must pass rigorous testing prior to installation. These tests…
Shipbuilding: Methanol-powered Bulk Carrier for Proman Stena Bulk
Proman Stena Bulk, a joint venture (JV) between methanol producer Proman and Stena Bulk, confirmed that the first methanol-powered newbuild vessel under its partnership has been delivered and is preparing for commercial operation.Stena Pro Patria is named in honor of Dennis Patrick, an integral member of the Proman family and the former CEO of Proman’s subsidiary Methanol Holdings (Trinidad) Limited (MHTL)…
Oil Trade; Asia Imports more Seaborne Russian oil than Europe
Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows. India has emerged as the significant Urals importer in the region…
USCG Patrol Forces Southwest Asia Holds Change of Command
Capt. Eric A. Helgen relieved Capt. Benjamin D. Berg as commander, Patrol Forces Southwest Asia (PATFORSWA) aboard Naval Support Activity Bahrain, Thursday, June 16.As the commander of the most extensive Coast Guard base outside of the United States, Berg served as the senior U.S. Coast Guard representative in the U.S. Central Command (CENTCOM) area of responsibility, providing support to maritime security operations in the north, central, and south Arabian Gulf and the Gulf of Oman.
Costa Toscana: Costa Cruises Christens New LNG-powered Flagship in Barcelona
Italian cruise line Costa Cruises on Thursday held a christening ceremony for its new flagship, the Costa Toscana, in the port of Barcelona, Spain.The LNG-powered, Italian-flagged ship sailed away from Civitavecchia, Italy on Monday, making a stop in Naples on Thursday, before arriving in Barcelona on Thursday for the christening ceremony. The 337-meter ship is one of the largest ocean liners and can accommodate 6,554 passengers.
Updates, Developments and Advances in Combat and Patrol Craft
My first visit in 2007 to the American Society of Naval Engineers’ (ASNE) Multi-Agency Craft Conference (MACC) was an eye-opener. Having built a naval architecture career with frigates, destroyers and other large naval and commercial ships, I was eager to learn of the smaller craft used by the U.S. Navy and other government and military bodies. As my flight into Norfolk, Va. descended over Chesapeake Bay…
BP Beefs Up Hydrogen Team in Bet on Fuel's Future
BP is beefing up its hydrogen management team as the energy company prepares to accelerate investments in the low-carbon fuel which it believes will play a key role in the world's shift away from fossil fuels.The revamp of the hydrogen team is the first clear sign of changes Anja-Isabel Dotzenrath, a former head of RWE Renewables, has made since becoming BP's head of natural gas and renewables in March.It…
Global Ports Gets Takeover Approach from Shipping Firm MSC
Global Ports Holding PLC, the world's largest cruise port operator, said on Wednesday it had received an approach about a potential cash offer from Swiss-based MSC Mediterranean Shipping Company.Shares of the London-listed company closed up 19% at 109 pence and marked their best day in two years after Global Ports confirmed a Bloomberg report that MSC was considering taking a controlling stake in Global Ports.Global Ports, owned by Turkish businessman Mehmet Kutman, said the talks were ongoing a
Freeport LNG Targets Year End for Full Operations After Fire
Freeport LNG, one of the largest operators of liquefied natural gas export plants in the United States,on Tuesday said last week's fire damage to its Texas plant would keep it fully offline until September with only partial operation through to the year end.Natural gas prices slumped in the United States and soared in Europe on the lengthier shutdown as the Quintana, Texas, facility produces roughly 20% of U.S.
