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Sunday, December 16, 2018

Australia News

A typical FSRU (CREDIT Excelerate

LNG Import Terminal Proposed for Australian port

A South Korea-based company has proposed building a terminal on Australia's east coast to import liquefied natural gas, the fifth proposal for such a project in the world's No.2 LNG exporter.The proposals have come after three new LNG export plants on the east coast have sucked gas out of the southeastern market and nearly tripled wholesale gas prices in places such as Sydney over the past two years.EPIK, a newly-formed LNG floating storage and regasification unit (FSRU) project development company…

File Image: a fully laden LNG tanker transits the Med in this recent image. Credit: Robert Murphy

Rising Ship Supply Eases LNG Charter Rates

Limited availability drove LNG shipping rates to highs; but prices now falling as more ship supply becomes available.Inflated spot charter rates for liquefied natural gas (LNG) tankers are easing as more ships becoming available, which could help increase LNG trade if Asian demand rises in coming months.LNG charter rates are a key component of spot LNG trade, dictating the way the super-cooled gas is transported. Charter rates usually follow the price of LNG, which has fallen since September due to sluggish demand from Asian buyers.Rates have remained high for most of this year…

Pic: Klaveness Combination Carriers

Klaveness Combination Carriers Extends Contract with South32

Norwegian shipping company Klaveness Combination Carriers (KCC) said that it has signed an agreement with South32 Marketing Pte Ltd extending the current Contract of affreightment (COA).According to the owner and operator of combination carriers, the COA is for shipments of caustic soda to Worsley Alumina Pty Ltd, South32’s alumina refinery located in Western Australia.Through this agreement, the term of the COA is extended by three years from January 2019 to December 2021 with…

(Photo: AMSA)

ROVs to Investigate Lost Shipping Containers

Remotely operated underwater vehicles (ROV) will be deployed to investigate containers lost from a cargo ship in heavy seas off Australia.The YM Efficiency, operated by Taiwan shipping company Yang Ming Marine Transport Corporation, was sailing from Taiwan to Sydney in early June when it lost dozens of containers overboard amid five-meter swells in the Tasman Sea, about 30 kilometers off Australia's east coast.The Australian Maritime Safety Authority (AMSA), citing serious potential impacts to local fishing and the environment…

 Image: Wood

Wood Secures Major Contracts in Abu Dhabi

Aberdeen-based energy services firm Wood been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC).Project management consultancy (PMC) services will be provided for major projects across the company’s onshore fields in Abu Dhabi, aimed at supporting ADNOC’s group-wide production capacity target of 4 million barrels of oil per day by 2020.Creating around 100 new jobs in-country, the five-year contracts…

File Image: AdobeStock / © Lucasz Z

Baltic Index Losing Streak Continues as Capesize Rates Drag

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, fell for the eighth consecutive session on Thursday, pressured by weakness in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 73 points, or 5.6 percent, to 1,231 points, its lowest since June 4.The capesize index declined for the seventh straight session, tumbling 221 points, or 11.2 percent, to 1,747 points - also its lowest since June 4.

Signing of the third SunStone Ships contract on a vessel in the INFINITY class. Photo: Ulstein Design & Solutions

SunStone Orders Third Expedition Cruise Vessel at CMHI Yard

Miami-based  SunStone Ships has declared option number two at CMHI shipyard after signing a long-term charter contract with Victory Cruise Line for the vessel, with a total of three newbuilds now under construction at the Chinese yard.A press release from the manager of passenger ships across the globe said that it  originally placed one firm contract and nine options on Ulstein deliveries of expedition cruise vessel designs and equipment packages back in 2017.All ten vessels are part of SunStone Ships’ series of vessels in the ‘INFINITY-class’.

Image: China Navigation Company

China Navigation Company Opens Shanghai HQ

Swire Group’s shipping arm China Navigation Company establishes presence in Shanghai where it was founded 147 years ago!The China Navigation Company (CNCo) opened its China headquarters officially in Shanghai on 05 November 2018, marking a significant return to its birthplace 147 years ago, and a significant milestone in its history, said a press release from the company.CNCo started operations on the Yangtze River in 1872, operating a modest fleet of Mississippi-style paddle steamers.CNCo is a major global player in the shipping scene today…

© velbort / Adobe Stock

Bulk Sector Prospects Perking Up

The bulk sector is navigating its way out of the doldrums but market correction has come at a price, delegates attending Bulk Terminals 2018 learned last week.Speaking in Hamburg at the annual conference of the Association of Bulk Terminal Operators, Frachtcontor Director Frank Grone said that while the bulk segment is slowly but steadily working its way out of the doldrums with a positive cash flow, he reminded delegates that 60mdwt was scrapped in 2015 and 2016 at “ridiculous prices”…

Ship being loaded at Rio Tinto Weipa operations with bauxite stockpiles in the background. Copyright © 2018 Rio Tinto.

Rio Tinto: Autonomous Ships "Not Far Off"

Mining companies must forge new ties with partners from customers to governments as they pursue innovation and compete for talent with technology giants, Rio Tinto's chief executive said in a speech to be delivered on Tuesday.The mining industry has recovered from the deep commodity crash of 2015-16, but faces headwinds from U.S.-China trade tensions, which have dented the copper price, and is struggling to win investor trust.In a copy of a speech to be delivered at a conference in Melbourne on Tuesday…

File Image: Adobestock / © Lucasz Z

SSY Pacific Capesize Index Up 283 Points

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rise by 283 points in the week ending Monday to 6,112."Led by strong rate increases on backhaul trades, the SSY Pacific Capesize Index climbed 283 points week-on-week to the highest level since August at 6,112 points. The Pacific round-voyage rate retreated to $19,300/day, down $850/day, while the W.Australia-China iron ore spot rate edged lower to $8.60/t.".

Pic: WorleyParsons

Jacobs Sells ECR Division to WorleyParsons

Australia's WorleyParsons has entered into a binding agreement to acquire US contractor Jacobs Engineering's  Energy, Chemicals & Resources (ECR) division, a leading global technical services provider across Hydrocarbons, Chemicals and Mining & Minerals.ECR has a global footprint with long-term, blue-chip relationships in key strategic markets, most notably the US, Canada, the Middle East and India. The business has more than 30,900 employees in 27 countries.Jacobs ECR is ranked number one globally for its delivery of complex petrochemical and chemical projects…

BIMCO's Chief Shipping Analyst Peter Sand

BIMCO: Shipping in the Line of Trade War Crossfire

BIMCO, the world’s largest international shipping association, issued a stern warning today as once again, the already long list of tariffed goods has been made even longer.Many more commodities were hit on 23 August, but September is likely to dwarf it all, as the US has proposed tariffs on goods worth USD 200 billion. According to BIMCO, The tariffed goods’ share of global trade is largely underestimating the overall negative impact of this trade war on globalisation and international shipping.BIMCO’s chief shipping analyst Peter Sand remarked…

(Photo: Glencore)

Glencore CEO Glasenberg Plans to Retire in 3-5 Years

Glencore Chief Executive Ivan Glasenberg has told investors he plans to retire from the commodities trader and miner in three to five years, Bloomberg reported on Monday.Glasenberg has started training three to four people to succeed him in the job, but did not disclose the shortlist of candidates, Bloomberg reported, citing people familiar with the matter.Glasenberg, who is also the company's second-largest shareholder with a 8.56-percent stake, according to Refinitiv Eikon data…

(Photo: Höegh LNG)

LNG Shipping Rates Spike with No Respite Seen Through 2019

The price of shipping liquefied natural gas (LNG) has spiked in September and is likely to remain high next year, buoyed by rising production from new plants and concerns that demand for LNG vessels will outpace supply.The rate for vessels shipping LNG from the Atlantic Basin to Asia has jumped to $90,000 to $95,000 a day this week from $75,000 a day at the end of August, brokers and traders said.Rates, which broadly hovered around $30,000 to $40,000 a day from 2015 to 2017, have risen due to longer distances covered to transport LNG from new terminals in the United States and Arctic Russia…

Interferry chairman John Steen-Mikkelsen (Photo: Interferry)

Interferry Names New Chairman and Board Members

Interferry, the trade association representing the worldwide ferry industry, has announced that the new chairman of its board of directors is John Steen-Mikkelsen, CEO of Danish ferry operator Danske Faerger.Steen-Mikkelsen was elected together with three new board members at the annual general meeting held last week in Cancun, Mexico, during the association’s 43rd annual conference.The Interferry board is drawn from all types of large and small ferry operations - including ro-pax, ro-ro, cruise ferries, fast ferries and passenger-only ferries - as well as industry suppliers.

Photo: Surrey Satellite Technology Ltd

UK Satellites Launched to Track Illegal Shipping Activity

Surrey Satellite Technology Ltd (SSTL) has confirmed the successful launch of two satellites, NovaSAR-1, a Synthetic Aperture Radar (SAR) satellite, and SSTL S1-4, a high resolution optical Earth Observation satellite. The two satellites were launched into a 580km sun-synchronous orbit on board the PSLV launch vehicle from the Satish Dhawan Space Centre in Sriharikota, India on 16 September at UTC 16:38 by Antrix Corporation Limited, the commercial arm of the Indian Space Research Organisation.Sir Martin Sweeting…

(File photo: Pilbara Ports Authority)

Port Hedland Iron Ore Shipments to China on the Rise

Iron ore shipments to China from Australia's Port Hedland terminal rose 5.3 percent in September from a month earlier, port data released on Wednesday showed.Iron ore shipments to China from the world's biggest iron ore port totaled 37.4 million tonnes in September, up from August's 35.5 million metric tons, according to the Pilbara Ports Authority.Total September iron ore shipments from the port totaled 43.5 million metric tons, up from 42.4 million metric tons in August.Port Hedland is used by three of Australia's top four iron ore miners, BHP Billiton, Fortescue Metals Group and Gina Rineha

Rendering of the LNG export facility (Image: LNG Canada)

Build It and They Will Buy: The New World of LNG Canada

The first major liquefied natural gas (LNG) project to be approved globally in five years will be built in Canada, but its underlying philosophy appears to be more closely allied to the Australian concept of "she'll be right, mate."The LNG Canada project was given the green light on Tuesday by Royal Dutch Shell, which is leading the $31 billion venture along with partners Petronas, Mitsubishi, PetroChina and Korea Gas.What makes the first export plant on Canada's west coast different…

Andy Richardson. Photo: Simec Atlantis Energy

Andy Richardson Joins as COO of SimecAtlantis Energy Limited

Simec Atlantis Energy  announced that it has appointed Mr. Andy Richardson into the role of Chief Operating Officer at Simec Atlantis Energy.A press release from the global developer, owner and operator of sustainable energy projects with a diversified portfolio of more than 1,000 megawatts in various stages of development said that this will be a non-Board appointment.Andy is a senior figure in the global power generation sector, a Chartered Fellow, having formally held roles…

© Kpics / Adobe Stock

AGL LNG Import Project Slowed by Environment Review

Plans by Australia's AGL Energy to start importing liquefied natural gas from 2021 will be delayed after the state of Victoria called for the company and its pipeline partner to submit a full environmental assessment of their project.The review process typically takes nine to 12 months, which means AGL will not be able to reach a final investment decision on the A$250 million ($178 million) jetty project by June 2019, as it had hoped.AGL had been on track to be the first of four…

© philipus / Adobe Stock

ENN Starts First Phase of Zhoushan LNG Import Terminal

Chinese gas distributor ENN Energy Holdings has begun operations at the first phase of its Zhoushan liquefied natural gas (LNG) import terminal, Vice President Ma Shenyuan said, speaking at a commencement ceremony for the terminal on Friday.As ENN aims to ramp up winter supplies in eastern China, the tanker 'Asia Integrity' docked at the Zhoushan terminal on the same day, bringing 145,000 cubic meters of LNG from Australia supplies to mark the launch of China's first privately…

© Björn Wylezich / Adobe Stock

LNG Shipping Rates Double Since End-August

Headline rates for shipping liquefied natural gas (LNG) in Pacific and Atlantic basins stand at around $140,000 to $150,000 a day for a 160,000 cubic meter LNG tri-fuel diesel electric (TFDE) vessel, brokers say.That is a 6-year high and compares to Atlantic basin rates of $75,000 at the end of August and around $95,000 at the end of September.Rates have jumped due to supply from new plants, longer distances traveled and anticipation of higher prices prompting shippers to lock in longer-duration contracts."Charterers continue to lock in multi-month contracts ahead of the winter and we continue

© Alexey Lesik / Adobe Stock

Vietnam Could Halt Certain 'Dangerous' Wheat Imports

Vietnam might halt imports of wheat cargoes containing cirsium arvense, or thistle seed, while suggesting local importers should seek supplies from Kazakhstan, Australia and Argentina, local media reported on Thursday.Wheat importer Vietnam, whose main suppliers include Russia, Australia and Canada, has been battling with imported wheat contaminated with thistle seed since May and has sought measures to stop the issue.From Nov. 1, cargoes containing cirsium arvense will be re-exported…

© Igor Strukov / Adobe Stock

Vietnam May Recall Wheat Re-exports

Vietnam could recall an order that goes into effect on Nov. 1 that requires companies to re-export wheat cargoes containing cirsium arvense seeds, known as Canada thistle, the government said on Wednesday.Vietnam, whose main wheat suppliers include Russia, Australia and Canada, has been battling with imports contaminated with thistle seed since May. The government is concerned that the contaminated cargoes could cause the Canada thistle weed to spread across the country and potentially harm domestic crop yields.Last month…

© seabreeze001 / Adobe Stock

Australia Regulator Tells Port of Newcastle to Reduce Charges for Glencore

Australia's competition regular on Monday said that Port of Newcastle Operations Pty Ltd (PNO) must reduce its charges for ships entering the port to carry coal for global miner Glencore.The Australian Competition and Consumer Commission determined that PNO should reduce its current charge by around 20 percent to A$0.61 per gross tonne.(Reporting by Nikhil Kurian Nainan; Editing by Joseph Radford)