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Friday, February 24, 2017

Photo: Damen Shipyards Group

Damen Shiprepair Cuts 150 Jobs

Damen Shiprepair & Conversion (DSC) plans to lay off around 150 workers as part of its reorganisation program at three Dutch yards within its group. All employees at the three locations — Damen Shiprepair Rotterdam (DSR), Damen Shiprepair Van Brink (DSVB) and Damen Shiprepair Vlissingen (DSVl) — have been informed, along with the workers' council and trade unions. It is the intention of DSC to complete the reorganization before summer 2017. Making matters worse, market expectations for the short and medium term are not positive.

Image: DryShips Inc

DryShips Sails Back into Tanker Market with Two Modern Vessels

Greek owner of drybulk carriers DryShips Inc. has announced that it is re-entering the tanker shipping market as it agreed to purchase an Aframax tanker and a very large crude carrier (VLCC). -  One 113,644 DWT Aframax tanker currently under construction in South Korea. The Company expects to take delivery of this vessel sometime in the second quarter of 2017. The vessel is expected to be employed in the spot market. - One 320,105 DWT Very Large Crude Carrier built in 2011. The Company expects to take delivery of this vessel sometime in the second quarter of 2017.

(Image: VesselsValue.com)

Top 10 Maritime Nations: Ranked by Value

The March 2017 edition of Maritime Reporter & Engineering News focuses on SINGAPORE, as this maritime powerhouse struggles to maintain balance and influence through the offshore oil and gas downturn. Looking at the "Top 10 Nations" ranked by value from VesselsValue.com, Singapore ranks #5 with 2,662 vessels, comprising 64.03 million GT and a $41.7 billion valuation, just behind the United States at #4 (2,399 vessels, 55.92m GT, $46.5 billion valuation).    

Photo: ELA Container Offshore

ELA Offshore Develops New Type of Container

Offshore managed to deliver all required containers from scratch in only 3 months from project kick-off, including design and development up to turnkey delivery on an offshore converter station in the German North Sea. “To come up with the best suitable container type, especially for Offshore Windfarms, we sat together with our customer, DNVGL and German authorities, who are responsible for the German “Arbeitsstättenrichtlinien (ASR)”, to create a new generation of container type”, says Hans Gatzemeier, Managing Director of ELA Container Offshore GmbH.

Photo: International Maritime Organization (IMO)

IMO Training in Malaysia

An International Maritime Organization (IMO) training in Malaysia has seen port State control officers practice inspecting air pollution and energy efficiency rules aboard a container ship in Johor Port. The participants from across Malaysia have been taking part in the three-day workshop (13-15 February) focusing on how to effectively enforce IMO’s MARPOL Annex VI regulations. The interactive workshop included class-based lectures and exercises, as well as practical training on board…

Photo: ENGIE

Hanjin Heavy Delivers Purpose-Built LNG Bunkering Vessel

ENGIE, Fluxys, Mitsubishi Corporation, and NYK have taken delivery of the world’s first purpose built liquefied natural gas bunkering vessel (LBV) from Hanjin Heavy Industries & Construction Co. Ltd., at the Yeongdo shipyard in Busan, Korea. She will run on LNG for her maiden voyage, after a few days of loading LNG delivered by trucks at the shipyard. Zeebrugge in Belgium will be the home port of the vessel, which has been named ENGIE Zeebrugge accordingly. From there, the 5,000 m3 LNG capacity LBV will supply LNG as a marine fuel to ships operating in Northern Europe.

Photo: Port of Hamburg

Port of Hamburg Resumes Growth Course

Container throughput achieves 1.0 percent advance in 2016/ Setting a record result for seaport-hinterland rail transport with 2.4 million TEU. In 2016 Germany’s largest universal port achieved a turnaround in seaborne cargo throughput, reaching a total 138.2 million tons in the general and bulk cargo segments. ‘Seaborne cargo throughput in the Port of Hamburg again developed upwards with an increase of 0.3 percent. Stronger general cargo throughput offset a slight downturn in bulk cargo throughput.

Photo: Hyundai Heavy Industries

Hyundai Heavy Back in the Black

The South Korean shipbuilder Hyundai Heavy Industries (HHI) has reported a net profit of KRW 682.3 billion (USD 596.6 million) for the full year of 2016, returning from a loss of KRW 1.36 trillion (USD 1.18 billion) seen in the full year 2015. Operating profit for 2016 totaled 1.64 trillion won, up from a loss of 1.54 trillion won for 2015. HHI also announced consolidated 4Q 2016 results. During the October-December period of 2016 HHI racked up 10.3427 trillion won in sales and 437.7 billion won in operating profits, posting quarterly profits for four straight quarters.

Photo: Viega

Viega Debuts ProPress Zero Lead Ball Valves

Viega has introduced its line of Viega ProPress Zero Lead Ball Valve press x hose thread for copper fittings. The bronze ball valves are full port and designed for potable water applications. The ball valves are available in 1/2" and 3/4" press sizes and 3/4" hose sizes. Other features include a lockable metal handle, stainless steel ball and EPDM sealing element. The Viega ProPress for copper system is available in more than 600 fitting configurations, in sizes ranging from 1/2" to 4".

Trump, Trudeau to Discuss Trade on Monday

President Donald Trump will host Canadian Prime Minister Justin Trudeau on Monday, the White House said on Thursday, a meeting in which trade and a major crude oil pipeline are likely to be on the agenda. The meeting will be the first for the two men since Trump won last November's election. "President Trump and Prime Minister Trudeau look forward to a constructive conversation on strengthening the relationship between our two nations," the White House said in a statement. Canada…

Port of Indiana-Burns Harbor Handles 2.6 Mln Tons in 2016

The Port of Indiana-Burns Harbor handled nearly 2.6 million tons of cargo in 2016, completing the highest three-year total in the port's history. Over 8.6 million tons have been handled at the port since 2014. Other 2016 highlights included a major expansion by Ratner Steel, a significant increase in heavy-lift cargoes and the investment of $2.5 million in port infrastructure improvements. The 2016 shipping total was the port's third highest tonnage in the last 10 years. Major cargoes included steel, limestone, carbon products, grain and iron ore.

Pirates Kidnap Cargo Ship Crew Nigerian Waters

Pirates have kidnapped seven Russians and one Ukrainian after attacking the cargo ship the BBC Caribbean off the coast of Nigeria, the Russian embassy said on its official Twitter account. The embassy has asked Nigerian authorities to assist in locating the abducted people, it said late on Tuesday. The Nigerian navy and police were not immediately available for comment. The general cargo vessel BBC Caribbean is managed by Briese Schiffahrts. "The armed pirates approached (the vessel) in a boat…

© jcpjr / Adobe Stock

US’ Top Five Trading Partners

The U.S.’ top five trading partner countries for goods in 2016 were China, Canada, Mexico, Japan and Germany, according to full year 2016 U.S. international trade in goods and services data compiled by the U.S. Census Bureau and the Bureau of Economic Analysis. U.S. trade with China was $578.6 billion: $115.8 billion in exports and $462.8 billion in imports. The top three U.S. exports to China in 2016 were civilian aircraft, soybeans and passenger cars, while the primary imports were cell phones and other household goods, computers and telecommunications equipment.

Brian Gilvary (Photo: BP)

Lawsuit Drags BP's Oil Trading Division into the Red

BP's oil trading business, one of the biggest in the sector, reported a rare loss in the fourth quarter after it lost a $70 million lawsuit over an oil cargo delivered to a Moroccan refinery. BP's Chief Financial Officer Brian Gilvary said due to flat trading positions ahead of a crucial OPEC meeting at the end of November, and the lawsuit, the company's oil trading division made a "small loss" in the fourth quarter. "There was a natural inclination to flatten up all of the books and there was also an adverse court ruling against us which is a $70 million hit," he told analysts on Tuesday.

L-R Terry Gidlow (CEO), Duncan Ramsay (Chairman), Sharafuddin Sharaf (Founding Shareholder) WaterFront Maritime Services (Photo: WaterFront Maritime Services)

WaterFront Launches New Approach to Global Ship Agency

Middle East and Asian port agencies Sharaf Shipping Agency and Ben Line Agencies have today (7 February 2017) announced the launch of a new global agency company for the wet and dry bulk shipping and commodity markets. Waterfront Maritime Services, which goes live on April  1, 2017, is based on 299 propriety offices across 49 countries, supported with a network of vetted third-party agents worldwide. The move allows Sharaf and Ben Line to offer the same high level of service around the world to clients trading globally.

File photo: Panama Canal Authority

Panama Canal Sets Monthly Tonnage Record

In January 2017, the Panama Canal set a new monthly tonnage record of 36.1 million Panama Canal tons (PC/UMS), with the transit of 1,260 ships through both the Expanded and original locks. The previous record was established the month prior, in December 2016, when 1,166 ships transited the waterway for a total of 35.4 million PC/UMS. “This increase reiterates the importance of the Expanded Canal, and it's further proof of the maritime industry’s continued confidence in the Panama Canal and the impact it will have on the future of global trade,” said the Panama Canal Administrator Jorge L.

Robert Joore (Photo: Total Lubmarine)

New Total Lubmarine Head Shares His Vision

Robert Joore, the new General Manager of marine lubricants supplier Total Lubmarine, has laid out his vision for the company, focusing on developing a range of innovative solutions for ship operators operating in poor freight markets in a low-sulphur era. Speaking at the company’s headquarters in Paris, Joore said, “Total Lubmarine believes that innovation is the key to success. In 2017 we will continue to invest heavily in developing a generation of marine lubes which are suitable for engines running both low and high sulphur fuels.

BlueTide Adds Ku-Band Coverage in Australia

BlueTide Communications (BlueTide) announced it has added Ku-band VSAT service to cover Australia extending north to Papua New Guinea and Indonesia. This allows the company to serve broader maritime regions where global shipping and oil & gas companies operate. With the need for connectivity growing due to crew usage, systems monitoring and automation, BlueTide’s VSAT plans are a natural fit with unlimited data and voice at a flat monthly fee. In addition to standard VSAT communications…

Mass Flow Metering Now Mandatory in Singapore

In a move which has been hailed as a landmark moment for the bunker industry, the use of mass flow metering (MFM) for heavy fuel oil bunker deliveries in Singapore became mandatory on January 1, 2017. The Maritime and Port Authority of Singapore’s (MPA) efforts have been applauded by many in the industry – including World Fuel Services – who see MFM as an important tool for developing more transparency and accountability for the bunker supply chain. So how does MFM work, and why is it so important to the bunkering industry?

Graph: Clarksons Research

US Still Plays Key Part in Seaborne Trade

Once upon a time, before the Chinese economic boom captured so much of the attention of the world of shipping, the US was a more important demand source for seaborne trade, says Clarksons Research. Its share of global imports is lower today, but the US still plays a key part in world seaborne trade. What’s the detail behind this backdrop and how might the big changes in US politics impact the trends? Looking back, in 2006, North American container imports accounted for 18% of world box trade, whilst 22% of global seaborne crude oil trade went to the US.

Uniper Hires Goldman to Sell Stake in Italy LNG Terminal

Germany's Uniper has hired Goldman Sachs to sell its stake in a liquefied natural gas (LNG) terminal in Italy, a deal that could value the whole business at 1 billion euros ($1.1 billion), three people familiar with the deal told Reuters. Books have been opened for due diligence on OLT Offshore LNG Toscana's business and a deal could materialise in the first half of 2017, the people said, also adding that there was no guarantee that a sale would take place. Energy firm Uniper holds a 48.24 percent stake in the OLT terminal, while Italian utility group Iren owns 49.07 percent.

India Impounds Ships, Detains Crew Over Oil Spill

Port authorities in Chennai have impounded a BW LPG vessel and a local ship carrying heavy fuel oil, and detained their crews, a spokesman for the port said on Friday, after their collision last week caused an oil spill affecting marine life and local fishing. About 20 tonnes of heavy fuel oil leaked and a complete clean-up is expected to take eight to 10 days, according to an Indian coast guard spokesman. BW Maple, with a total capacity of 82,000 cubic metres of liquefied petroleum gas, was half full when it collided near Chennai with the Indian ship Dawn Kanchipuram on Saturday.

Jeff Lock (Photo: UK P&I)

UK P&I Announce Promotions Within UK Claims Team

The UK P&I Club has promoted Senior Claims Director Jeff Lock to the newly created role of Global Technical Claims Director and Senior Claims Executive Adam Russ to Senior Claims Director. Jeff Lock joined UK P&I Club in 2011, having spent 11 years working as a solicitor within a major London maritime law firm. As well as being a qualified solicitor, Lock has 18 years seagoing experience on a wide range of ship types, including oil and petrochemical tankers. Lock represents the…

Indian Finance Minister Arun Jaitley. Photo: PIB, Govt of India

Indian LNG Import Tax Halved

India, the world’s fourth-largest buyer of liquefied natural gas (LNG), has announced plans to halve its basic customs duty on imports of the chilled fuel. Indian Finance Minister Arun Jaitley presenting the Budget for 2017-18 in Parliament halved the import duty on LNG to 2.5 per cent, a move that will help cut cost of power and fertiliser production. "Considering the wide range of use of LNG as fuel as well as feed stock for petro-chemicals sector, I propose to reduce the basic customs duty on LNG from 5 per cent to 2.5 per cent," he said.

From the new office, it is possible to view the astonishing nature of northern Norway, the deep blue Barents Sea, snow-covered mountains, and the enchanting Northern Lights. Photo Greencarrier Freight Services

Greencarrier sets up office in Norwegian Arctic

Greencarrier Freight Services is establishing a new office in the beautiful Norwegian Arctic. This comes at the heels of a new contract they secured for providing the oil and gas company ENI Norge with transport solutions and port logistics for Goliat Field - an offshore oil field north-west of Hammerfest in Norway. In recent years, the town of Hammerfest in northern Norway has experienced an economic boom. This is a consequence of Statoil‘s construction of the large liquefied natural gas site on the island of Melkøya in 2007.

Swedish Town Karlshamn Says 'Yes' to Gazprom Port Deal

Officials in Karlshamn in southern Sweden will allow Russia's Gazprom to use the city's port for the construction of its Nord Stream 2 gas pipeline after the government dropped its objections, the municipality said on Tuesday. The government had earlier expressed concerns about Gazprom's plans to use the port, but said on Monday the project did not threaten defense interests. Late last year, the island of Gotland rejected a similar deal to support the construction of the pipeline after the government expressed worries about national security.

Russia Halts Oil Exports from Novo Due to Storm

Russian oil exports from the Black Sea port of Novorossiisk were suspended on Sunday due to storm, oil pipeline monopoly Transneft said on Monday.   It also said that loadings from the Pacific outlet of Kozmino resumed on Sunday after storm, which did not affect the loading schedule.   Other ports are working according to their plans, Transneft said. (Reporting by Vladimir Soldatkin; editing by Polina Devitt)

Sweden Drops Objections to Port Striking Nord Stream Deal

Sweden's government has dropped its objections to a plan by Russia's Gazprom to use the port of Karlshamn in southern Sweden as a base for the construction of its Nord Stream 2 gas pipeline, Swedish public radio reported on Monday. Officials in Karlshamn, on the Baltic sea, will take the formal decision on Tuesday, but are likely to vote yes to an agreement after the government tempered its previous objections to a deal. Late last year, the island of Gotland rejected a similar deal to support the construction of the pipeline after the government expressed worries about national security.

Shturman Albanov  Photo Sovcomflot

Sovcomflot tankers Move one mi tonnes oil from Novy Port O&G condensate field

Sovcomflot’s three unique Arctic shuttle tankers, of the Shturman Albanov series, have now transported one million tonnes of crude oil produced at the Novy Port oil and gas condensate field, from the Gulf of Ob (Kara Sea) to the port of Murmansk. The milestone millionth tonne cargo of oil was loaded on Shturman Albanov on 29 January 2017 at the Arctic Gate marine terminal located near Cape Kamenny (Gulf of Ob). In total, SCF tankers have completed 33 voyages with Novy Port grade oil since last autumn.

No Cash: PDVSA Tankers Stuck Off Venezuela

More than 4 million barrels of Venezuelan crude oil and fuels are stuck in tankers in the Caribbean because Venezuela’s state-run oil firm cannot afford to pay for cleaning dirty tankers and port inspections, Reuters reports, quoting internal company reports and Reuters tanker tracking data. According to PDVSA’s trade documents and Reuters shipping data, some dozen tankers full of  barrels are being held back because the hulls have been soiled by crude, stemming from several oil leaks in the last year at key ports of Bajo Grande and Jose…

Photo:  Evergas

Eletson, Evergas Form Shipping Alliance

Eletson Gas and Evergas announced an alliance of the two companies that will trade the companies’ semi-ref/ethylene capable vessels. The new venture, to be called the E3 Pool, will commence trading on the 30th of January from the Eletson offices in Piraeus and London and the Evergas offices in Copenhagen and Singapore. The new commercial venture will control the 15-strong fleet of modern gas carriers that are currently trading. It will be joined by a further four vessels to be delivered to Eletson over the next twelve months and will create a single point of contact for cargo owners.

Dr. Monika Griefahn, Chief Sustainable Officer AIDA Cruises. (Photo: (c) AIDA Cruises)

Innovative Cruise Ship Hosts LNG Conference

As part of the international trade conference "Making LNG Happen: Combining Forces for Sustainable Shipping," 80 representatives from the fields of business, politics and science visited the cruise ship AIDAprima in Rotterdam on Thursday, January 26, 2017. The guests included Dirk Brengelmann, Ambassador of the Federal Republic of Germany in the Netherlands and his Norwegian colleague Martin Sørby. Hosting the event onboard AIDAprima was symbolic and significant, AIDAprima was the first cruise ship in the world that uses a dual-fuel engine to produce its energy from LNG while docked at port.

Photo:  Islamic Republic of Iran Shipping Lines

Iran VLCCs in Europe on First Post-Sanctions Trip

An Iranian oil tanker has called at a European port for the first time since the lifting of sanctions last January, IRNA news agency reported quoting Sirous Kianersi,  managing director of the National Iranian Tankers Company (NITC). Sirous said that the first NITC tanker leased to a major Spanish oil company docked at the Port of Algeciras just recently. More NITC tankers are heading to other European ports, he said, adding two vessels are currently en route to the Netherlands.

Damian Seipe (Photo: RSC Bio Solutions)

RSC Bio Solutions Expands

RSC Bio Solutions recently announced the addition of several key team members in the business development and sales departments in a continuing drive to support its growing client base. The company also announced a new market-oriented organizational structure with two focused teams around the marine and land markets. “Deeper segment experience and knowledge will support our growth objectives and our goal to be recognized as the go-to resource for biochemical solutions in markets where protecting equipment and protecting the environment are both essential…

New ABS Guide for LNG Bunkering

New Guide provides standards for growing LNG bunkering vessel sector. ABS, a provider of classification and technical services to the marine and offshore industries, has published the ABS Guide for LNG Bunkering. This new Guide provides standards for the design, construction and survey of LNG bunkering systems that are on board a vessel. “This industry-leading Guide incorporates our expertise in the safety aspects of LNG storage and handling as well as LNG as fuel,” says ABS Chairman, President and CEO Christopher J. Wiernicki.

Bomin Expands Operations in the ARA Region

The Bomin Group, a global physical supplier and trader of marine fuels, has announced that it has strengthened its physical operations in the ARA region (Amsterdam-Rotterdam-Antwerp) by time-chartering two new bunker barges. The move supports Bomin’s business strategy of investing in key regions, and developing its global infrastructure and resources to drive long-term growth and sustainability. Both bunker barges are modern, state-of-the-art 3,600 DWT and 3,100 DWT vessels, with fast pumping rates to maximise speed throughout the delivery process.

Graph: Clarksons Research

2016 Contracting: Hard To Find Our Bearings

Contracting activity in 2016 fell to its lowest level in over 30 years in numerical and tonnage terms, says Clarksons Research. Low levels of newbuild demand have continued to limit ordering across the majority of vessel sectors, and the majority of shipyards have struggled to win orders. However, record ordering activity in the cruise and passenger ferry sectors did at least provide a degree of positivity for European yards in 2016. The 480 vessels reported ordered in 2016 represent the lowest level of newbuild contracting in over 20 years.

Photo: Bahri

Bahri Profits Fall

National Shipping Company of Saudi Arabia (Bahri),  the exclusive oil shipper for Saudi Aramco, made a net profit of 327.8 million riyals ($87.4 million) for the three months to Dec. 31. That compares with 566.4 million riyals in the fourth quarter of 2015. For the year ending December 31, 2016, Bahri has reported a net profit of SR1.76 billion ($469.3 million). The company registered net revenue of SR6.78 billion ($1.8 billion), and earnings per share (EPS) of SR4.48 for the year, it said in a statement. -Lower spot market rates in general and specifically in Oil transportation.

India to Levy Service Tax on Freight for Imports on Delivered Basis

Overseas exporters chartering foreign vessels to supply goods to India will have to pay a service tax on freight from Sunday, a government notification said. It will be the same as the 4.5 percent service tax that India currently levies on free-on-board (FOB) cargoes, where the ship is chartered by a local buyer. Prior to the change, imports in foreign ships hired by the overseas seller - known as on a cost and freight (CFR) basis - have been exempt from this charge. The difference in tax rates has affected the business of Indian shipping lines such as Shipping Corp of India…

DoJ looks back at 2016

The Department of Justice’s Environment and Natural Resources Division has announced  the publication of its accomplishments in 2016, documenting one of the most successful years in its history of over a century, including the highest recoveries in environmental enforcement, record-setting recoveries in natural resource damages, and the highest criminal penalties handed down in individual vessel pollution and Lacey Act trafficking cases. “I am extremely proud and grateful to have led the men and women of this division through a landmark year in its long history of protecting…

Photo: Corvus Energy

Corvus Delivers for Hybrid Port Equipment

Corvus Energy will provide newly-designed lithium-ion energy storage systems (ESS) for a hybrid rubber-tired gantry crane (RTG) designed by CCCC Shanghai Equipment Engineering (CCCCSEE). The new ESS solution from Corvus is a smaller, ultra high power, liquid cooled system designed specifically to meet the RTG power requirements more cost effectively. Corvus Energy will provide newly-designed battery systems for a hybrid powered rubber-tired gantry crane (RTGs) that will be produced by integrator CCCCSEE for Shanghai Zhenhua Heavy Industry Co. Ltd.

John Bradshaw (Photo: IMCA)

IMCA Backs IMO's Emissions Roadmap

The International Marine Contractors Association (IMCA) believes that the roadmap adopted by the Marine Environment Protection of IMO (MEPC 70) to develop a comprehensive strategy to reduce greenhouse gases (GHG) emissions globally from shipping provides the right framework for moving forward on this vital issue. According to the agreed timeline, IMO will initiate its decision-making on further measures to tackle the challenge of GHG from shipping in 2022. “We welcomed the unanimous international decision at IMO on this important issue…

Photo:  Port of Antwerp

Antwerp Finishes 2016 with 2.7% Growth

The port of Antwerp handled over the past year 214 057 529 tons of goods. Which is 2.7 more than the previous year. Container volume up 4.1%: At 4.1% the growth in container volume is even more pronounced: after 12 months the figure stood at 117,909,533 tonnes of containerised freight. Expressed in terms of standard containers (twenty-foot equivalent units) the total of 10,037,318 TEU has risen above the 10 million TEU mark for the first time in the history of the port. However there were negative figures in 2016 for conventional breakbulk (down 2.0%) and dry bulk (down 9.1%).

© tsuguliev/ Adobe Stock

Serbia Deploys Ice Breakers Along Danube

Serbia deployed three icebreakers on Tuesday to smash ice blocks jamming parts of the Danube river and prevent damage to bridges and ships moored along the waterway. Serbia's only icebreaker and two more vessels that arrived from neighbouring Hungary ploughed through the thick ice to free it up to move downstream. Dozens of smaller boats and floating homes have been damaged or destroyed over the past week along a stretch of the Danube in Belgrade as ice ripped through marinas and moorings.

David Doig (Photo: OPITO)

Obituary: David Doig, Chief Executive of OPITO

OPITO, a global oil and gas industry skills, standards and workforce development organization, is deeply saddened to confirm the death of its chief executive David Doig. Mr Doig, 57, who was based in Dubai, suffered a heart attack on December 31st and later passed away peacefully in hospital in Fife, Scotland. John Taylor, chairman of OPITO, said: “David was a vocal champion of OPITO, a much-respected industry leader, a firm advocate of social responsibility; and a trusted colleague and friend to many.

Donald F. Hastings (Photo: Lincoln Electric)

Obituary: Donald F. Hastings, former Lincoln Electric CEO

Former Lincoln Electric chief executive officer (CEO) Donald F. Hastings passed away on Dec. 27, 2016, at the age of 88. Hastings had a 44-year career at Lincoln Electric. He joined the company in 1953 as a trainee in its welding school after earning a degree in economics from Pomona College and a master’s degree in marketing from Harvard Business School. Hastings held various leadership positions in the organization. In 1986, he was named president and served as CEO and chairman of the board from 1992 to 1997.

© Carabay / Adobe Stock

LNG Floating Storage: A Passing Trend?

At the end of 2015, global LNG production was approximately 35 bcf/d. By 2019, global supply is set to increase by 40 percent with the U.S. and Australia planning to bring another 15 bcf/d online. However, traditional markets like Europe and Northern Asia are experiencing no demand growth due to several factors, including price controls, competition from other fuels, and regulations. Increasing supply may see LNG ships become floating storage units, similar to what the oil industry has experienced.

Tarik Al-Junaidi, Chief Executive Officer of OSC and Mike Muller, Vice President for Trading and Supply Crude, Shell  (Photo: OSC)

OSC Signs Three-year Deal with Shell

Oman Shipping Company (OSC) has announced that its subsidiary, Oman Charter Company (OCC), has entered into a contract of affreightment (COA) agreement with Shell International Eastern Trading Company (Shell) for three years. The contract grants Shell access to the Very Large Crude Carriers (VLCC) operated by OCC for Crude oil cargo transportation requirements and provides OCC with the cargo base it needs to support its commercial operations. Tarik Al-Junaidi, Chief Executive Officer of Oman Shipping Company said: “In addition to the 10 MR tankers that we have recently chartered to Shell…

Mark Perrins (Photo: KPI Bridge Oil)

KPI Bridge Oil Appoints Trading Manager

KPI Bridge Oil has promoted Mark Perrins, a senior trader in the London office, to the position of Trading Manager. Perrins  joined KPI Bridge Oil Ltd as a Bunker & Lubricant Trader in 2009 and was later promoted to Team Leader in 2012. Prior to joining KPI Bridge Oil he spent 8 years working for two large, international shipping companies. The Trading Manager position is a new role created by James Enston, Managing Director of KPI Bridge Oil London; it was specifically designed to focus on driving business development in the current challenging market conditions.

Image: Samsung Heavy Industries Co

Samsung Heavy Mulls $6 Bln Orders This Year

South Korean major shipbuilder  Samsung Heavy Industries Co  is aiming to clinch orders worth more than US$6 billion this year, South Korea's Yonhap news agency reported the company's head as saying. Park Dae-young, president and CEO of the shipbuilder, also said that this year will be a crucial point for his company's survival at a time when local shipbuilders are suffering from an industry-wide slump and economic slowdown. Park said that his company raised this year's target for new orders, compared with US$5.3 billion set for last year.

Australia, Japan Enact Rules for Shipping Liquid Hydrogen

Australia and Japan signed a memorandum at the headquarters of the Australian Maritime Safety Authority (AMSA) in Canberra which will allow liquid hydrogen to be shipped in bulk for the first time. Ship containment systems are being developed in Japan that will be capable of safely transporting liquid hydrogen in bulk from Australia to Japan as part of a pilot project scheduled to commence in 2020. Bulk gas cargoes are carried under the International Code for the Construction…

© William Messing / Adobe Stock

China Adds More Ports to Its Low Sulphur ECAs

China has expanded its Emission Control Area (ECA) regulations to include ships berthing at six additional ports, bringing the total number of key ports in the country’s ECA to 11. With the new rules, effective from January 1, 2017, China is now requiring ships to burn bunker fuel with a maximum sulphur content of 0.5 percent when berthing at six additional key ports: Guangzhou, Huanghua, Qinhuangdao, Tangshan, Tianjin and Zhuhai, extending from five ports that have implemented the regulation in 2016.

Carboline Names Andrews Executive VP of US Sales

Carboline has appointed Darrin J. Andrews as Executive Vice President of Sales USA, effective December 5, 2016.   Andrews has been in the protective and industrial coatings industry for over 27 years and has a wealth of knowledge in the oil and gas, and mining segments. Andrews is a NACE Certified Coatings Inspector and has been active in the Canadian protective coatings industry for 20 years.

CNOOC Diverted Two LNG Cargoes from Tianjin After Pipeline Fire

China's state-owned energy company CNOOC diverted two cargoes of imported liquefied natural gas (LNG) after a pipeline fire in northern China's Tianjin, though imports were normal as of Monday, traders with knowledge of the matter said on Tuesday. Reuters reported on Dec. 28 that a natural gas pipeline in Tianjin was closed after it ruptured and caught fire. Two sources with knowledge of CNOOC's gas operations in Tianjin said CNOOC diverted the LNG cargoes after the accident on the pipeline, which is connected to a domestic gas consumer.

Marginal da Corimba Photo Van Oord

Van Oord consortium to undertake Angolan Reclamation

The consortium consisting of Van Oord and Urbinveste – Promoção e Projectos Imobiliários, S.A. has been awarded the contract for the design and construction of the Marginal da Corimba project in Luanda, Angola. The contract has been signed with the Angolan government (Gabinete Técnico de Gestão da Requalificação e Desenvolvimento Urbano do Perímetro Costeiro da Cidade de Luanda, Futungo de Belas e Mussulo). It contains a financing agreement arranged by ING Bank NV and a credit…

Photo: DHT Holdings, Inc

DHT Fixes VLCC Issue, Defers Newbuilding

DHT Holdings, Inc. said that during a routine inspection of the DHT Jaguar, a fracture surrounding the inspection window of the rudder was identified. It is DHT's policy to inspect all newbuildings, including underwater areas, during their respective warranty periods. Following a root cause analysis conducted by the builder Hyundai Heavy Industries (HHI) and classification society American Bureau of Shipping (ABS), DHT implemented a permanent repair plan for a rudder design improvement on the DHT Jaguar and its sister ships.

Hannah Wistort (Photo: Crowley)

Webb Awards Thomas B. Crowley Sr. Memorial Scholarship

Hannah Wistort, Webb Institute class of 2017, is the 2016-2017 recipient of Crowley Maritime Corporation’s Thomas B. Crowley Sr. Memorial Scholarship. Webb’s scholarship selection committee chose Wistort for her academic excellence and leadership skills. Wistort, who is from Niskayuna, N.Y., has been involved with many student organizations and community projects. She is a member of the Webb Leadership Committee, which organizes community service and outreach projects for students.

Libya to declare force majeure at Ports over Smuggling

Libya's UN-backed government will declare force majeure on two ports to stop fuel smuggling from them, a statement from its presidential council said on Saturday. The statement gave no details on when the measure would come into effect, but it comes after officials accused a local armed group of fuel smuggling from Zawiya port. The measure will cover Zawiya and Zuwara ports. The armed faction guarding Zawiya port peacefully withdrew from the terminal earlier this week. Libya expects its oil production to rise to around 900…

Construction to extend the existing quay is now under way. Excavation of adjacent areas will provide significant laydown and open storage opportunities. Photo Lerwick Port

Lerwick Port Spells out Strategy for Expansion

Lerwick Port Authority has detailed a series of objectives to meet its aim of running an efficient, cost-effective harbour, including continuing expansion of the infrastructure. The goals are featured in an interim Update produced ahead of publication of a new style annual report in Spring. Commenting on activity, Chairman Brian Anderson notes: “Lerwick reached peak level in 2013 and 2014, largely driven by oil & gas projects, both onshore and offshore. The Update also notes that…

Sri Lanka Delays Southern Port JV with Chinese Firm

Sri Lanka has delayed a joint venture with China Merchants Port Holdings Company Ltd to develop a port in its south, where China has also offered to build an investment zone, a top government official said on Thursday. The nation's cabinet has already approved the deal under which Sri Lanka will lease 80 percent of Hambantota port to the Hong Kong-based listed firm for 99 years for $1.12 billion. The delay was due to unfinished negotiations between the stakeholders, Malik Samarawickreme told reporters in Colombo. "It will take 10-14 more days to finalise all the agreements.