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Marine Diesel Oil Price-Spike Expected End of 2014
Reuters â New fuel rules for ships entering low sulphur zones around northwest Europe and North America next year could trigger a price spike in European gasoil, whilst refiners will struggle to offload unwanted fuel oil. From January 2015, ships entering "Emission Control Areas" (ECAs) in the Baltic, North Sea and English Channel and around the North American coast, will have to switch from low sulphur fuel oil (LSFO) with 1 percent sulphur content to 0.1 percent gasoilâŚ
Mideast Crude Tanker Earnings Slip, Ukraine Watched
Crude oil tanker earnings on the major Middle East route fell on Tuesday as a build up of vessels available for hire weighed on rate sentiment. Shipping marketsâŚ
New Fuel Rules Could Prompt Gasoil Price Spike
New fuel rules for ships entering low sulphur zones around northwest Europe and North America next year could trigger a price spike in European gasoil, whilst refinersâŚ
Engine Room Fire Prevention Below Par Say Experts
Lessons are still not being learnt when it comes to preventing engine room fires according to Braemar SA (Braemar Incorporating The Salvage Association). He adds: âOn many of the vessels I visit, these hot spots are only too easy to find, with thermal imaging photographs readily identifying these defectsâ. Braemar SA says that, despite all the attention classification societies aim at fire prevention and protection designâŚ
RINA Granted Danish LNG Fuel Authority
International classification society RINA has been authorized by the Danish Maritime Authority to act on its behalf to carry out plan approval and surveillance during construction on board ships using LNG as marine fuel. The authorization is valid for ships flying the Danish Flag. Andrea Cogliolo, head of innovation, RINA Services, said, âThis authorization recognizes RINAâs expertise with gas andâŚ
Sovcomflot Takes Delivery of Dual-Fuel Power
Sovcomflot, Russiaâs largest shipping company, has taken delivery of its latest LNG carrier, the Velikiy Novgorod, from South Koreaâs STX Offshore & Shipbuilding. The ship is equipped with a diesel-electric, dual-fuel propulsion system consisting of 2 × MAN 8L51/60DF and 2 × MAN 9L51/60DF engines, offering a total rated power of 34 MW, which were constructed at MAN Diesel & Turboâs Augsburg plant in Germany.
DW: Prelude to a $60B FLNG Growth Story?
Following first steel cutting in late 2012, Shellâs Prelude Floating Liquefied Natural Gas (FLNG) unit continues to take shape in Samsungâs Geoje shipyard in Korea, Douglas Westwood (DW) said in its Monday report. At 488 meters long by 74 meters wide and with an LNG processing output of 3.6 million metric tons per annum (mtpa), its specifications are impressive; but what DW said is perhaps more interesting is that the Prelude unit has the potential to be a gamechangerâŚ
LNG Foes go to the Mat in Maryland
Maps of Indian and Japanese ports paper the walls of a Dominion Resources Inc conference room in a small Maryland town, population 1,835, known more for crabbingâŚ
MOL Ink Deal to Build, Charter 300m LNG Carrier
Mitsui O.S.K. Lines (MOL) inform it has signed a Head of Agreement on joint ownership and 20-year charter contract for a newbuilding LNG carrier with Tokyo LNG Tanker Co., Ltd. At the same time, MOL signed a contract with Japan Marine United Corporation to build the new vessel. The ship is slated for completion in 2017. MOL will manage the new carrier, which will transport LNG mainly from the Cove Point LNG Project in the United States to Tokyo Gas facilities.
LNG Spot Prices Drop; Demand Dips from Brazil, Japan
Asian spot liquefied natural gas (LNG) fell this week as demand from Brazil's Petrobras slackened and top Japanese buyers switched to cheaper fuels and relied more on supplies under long-term deals.
Borgøy: the Worldâs first LNG-Fueled Tug
Late last year, an innovative project to design and build the worldâs first LNG fuelled escort tugs became a reality when the Borgøy was handed over for sea trials by builder Sanmar in Tulza Bay near Istanbul. For the Christening at the Sanmar Shipyard in Tuzla, representatives from the Turkish shipyard were joined by executives from Norwegian tug operator Buksér og Berging AS and from Rolls-Royce.
DNV GL, MPA Collaborate in Maritime R&D
DNV GL and the Maritime and Port Authority of Singapore (MPA) signed a memorandum of understanding (MOU) today to promote research and development (R&D) and innovation in the maritime industry. The signing ceremony took place at the DNV GL 150th anniversary celebrations, in the presence of Lui Tuck Yew, Singaporeâs Minister for Transport, and Borge Brende, Norwayâs Minister of Foreign Affairs. The MOU was signed between Dr.
Rig salvage work off Angola LNG to start in Q2
Salvage work to remove a capsized drilling rig lying in shallow waters off Angola's new liquefied natural gas (LNG) plant is due to start in the second quarter, Italian oil services firm Saipem said.
200 SOLASAFE Screens for Hyundai Containerships
South Shields based Solar Solve Marine received an order from Korea for four ship-sets of its SOLASAFE roller sunscreens. The screens are to be installed at the navigation bridge windows of four very large container carriers currently under construction at Daewooâs DSME Okpo shipyard on Geoje Island. With a length of 366 mts, a beam of 48.8 mts and depth of 30 mts the vessels will all be 152,700 dwt.âŚ
French LNG Tankship Linings Maker Sets IPO Price
Reuters â Gaz Transport & Technigaz (GTT), a subsidiary of GDF Suez, Total and private equity fund Hellman & Friedman, said in a statement it had priced its IPO at 46 euros per share, valuing GTT at approximately 1.7 billion euros. Earlier this month, GTT - the world's No. 1 maker of insulated hull linings for tankers that carry liquefied natural gas (LNG) - proposed an indicative price range of 41âŚ
Oil Services Must Take on More Risk, Petrofac CEO Warns
Oil service companies will have to assume more risk in the coming years as investor pressure and a flat crude price make oil company clients push harder to avoid delays on megaprojects, the chief executive of FTSE 100 contractor Petrofac said. The biggest oil companies have seen huge delays and broken budgets at projects ranging from record-breaking Australian liquefied natural gas (LNG) schemes to the enormous and technically challenging Kazakhstan oilfield in the freezing Caspian Sea.
Angola LNG Compressor Leak Delays Loading Program
A compressor leak at Angola's new liquefied natural gas (LNG) export plant has delayed loading programs and reduced output at the $10 billion project, which is due to shut for two months from JulyâŚ
Construction Begins on First LNG Containership
Fireworks marked the first cut of steel in a ceremony last night as construction of TOTE, Inc.âs new Marlin Class, the first liquefied natural gas (LNG)-powered containership in the world, began at the General Dynamics NASSCO shipyard in San Diego, Calif. âThese ships, will be the most advanced, environmentally progressive vessels of their kind,â state Representative Duncan Hunter (R-Calif.), Chairman of the House Subcommittee on Coast Guard and Maritime Transportation saidâŚ
Singapore to Build Second LNG Terminal
Reuters - Singapore plans to build a second terminal for liquefied natural gas (LNG), as it aims to create a regional trading hub for the fuel, Prime Minister Lee Hsien Loong said on Tuesday. The city-state - located strategically on the main shipping route between Europe and Asia - started commercial operations of its first LNG terminal in May last year with an initial capacity of 3.5 million metric tons per year (tpy).
Gasum Boosts LNG Network with Skangass Deal
Reuters - Finnish gas company Gasum is to acquire 51 percent of Norwegian Skangass's distribution operations from Lyse Corporation as it seeks to improve the efficiencyâŚ