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Tuesday, September 24, 2019

Chemicals News

Frost  & Sullivan said shipbuilders and dry-docking companies should work with marine coatings specialists to ensure that high-performance, environmentally-sustainable marine coatings that can protect the environment and increase fuel efficiencies are developed for use in the maritime sector.
Photo: © helenedevun/Adobe Stock

Marine Coatings Market: Clean, Green & $9.3B by 2025

In its latest analysis of the marine coatings sector, UK-headquartered market analyst Frost & Sullivan’s has shown that increased development and adoption of more environmentally sustainable and durable antifouling coatings using higher priced chemistries is a fast-growing trend in the marine sector. In addition, Frost & Sullivan’s report, ‘Global Marine Coatings Market, Forecast to 2025’, says that the Asia-Pacific region is expected to dominate the market owing to its large…

Pic: TOP Ships

TOP Ships in 1-for-20 Reverse Stock Split

Greek provider of oil, petroleum products and chemicals transportation services TOP Ships Inc. announced that it has determined to effect a 1-for-20 reverse stock split of the its  issued common shares.The Greek company's shareholders approved the reverse stock split and granted the Board the authority to determine the exact split ratio and when to proceed with the reverse stock split at the Company's Annual Meeting of Shareholders held on August 7, 2019.The reverse stock split will take effect…

Image: Saudi Aramco

Saudi Aramco, World’s Most Profitable Co, Again

Saudi Aramco announced that its net income was $46.9 billion for the first half 2019, compared to $53.0 billion for the same period last year. That easily outstripped corporate titans such as Apple Inc, Amazon.com Inc and other big oil producers, many of which suffered larger declines in profit as output and crude prices fell. Saudi Aramco President & CEO Amin H. Nasser, said: “Despite lower oil prices during the first half of 2019, we continued to deliver solid earnings and strong free cash flow underpinned by our consistent operational performance…

Photo: PIB, Govt of India

JNPT Builds New Liquid Cargo Jetty

Indian Minister of State for Shipping, Mansukh Mandaviya laid the foundation stone for development of an additional Liquid Cargo Jetty at Jawaharlal Nehru Port Trust (JNPT) in Mumbai.According to a government announcement, the facility will be built at a cost of over INR 309 crore (USD 43 million), the project will cater to the increased demand for handling liquid cargo like edible oil, LPG, molasses and other chemicals.Mandaviya said, “The Prime Minister Narendra Modi has laid focus on port-led development.

Photo: Methanex Corporation

Waterfront Adds Methanol-Fuelled Vessels

The marine transportation company Waterfront Shipping Company has added two new innovative, clean-burning vessels, M/T Mari Couva and M/T Mari Kokako, to its fleet.Both 49,000 dwt vessels are built with the second generation of MAN B&W ME-LGIM two stroke dual-fuel engines that can run on both methanol and conventional marine fuels, said the wholly owned subsidiary of Methanex Corporation.The vessels join the seven existing methanol-fueled vessels chartered by Waterfront Shipping…

“The iDiver, a Remotely Operated Robotic Diver , performs underwater inspections on vessels and underwater structures, hence eliminating the need for divers to perform hazardous tasks under water.” (Photo: Keppel)

Keppel Wins 18 Awards at WSH 2019

Keppel Group has clinched 18 awards at this year's Workplace Safety and Health (WSH) Awards, organized by the Workplace Safety and Health Council (WSHC) and Ministry of Manpower (MOM), Singapore. This is the highest number of awards won by a single organization this year. Keppel had also won the highest number of awards in 2018.Of the 18 awards, Keppel Offshore & Marine (Keppel O&M) received 12 awards under the Safety and Health Award Recognition for Projects (SHARP) category for exemplary project safety and health management systems.Keppel FELS…

Photo courtesy of Wilhelmsen

Wilhelmsen’s New Heavy Duty Cargo Hold Cleaner

Tested extensively both in the lab and in the hold, Wilhelmsen’s Unitor CargoClean HD further improves on the market-leading performance of its predecessor but requires just half the volume of chemicals previously needed.Refined several times before the Wilhelmsen team felt their complex alkaline micro emulsion cleaner was strong enough to test against the best of the rest onboard a vessel, the new concentrated formula of Unitor CargoClean HD consistently produced the best cleaning results.

Kari-Pekka Laaksonen, Group CEO Samskip (Photo: Samskip)

Samskip Appoints Laaksonen as Group CEO

Samskip, a European multimodal service provider group, appointed Kari-Pekka Laaksonen as the Group Chief Executive.Laaksonen, who takes up his post at Samskip’s Rotterdam headquarters on August 1st, 2019, is the former CEO of Samskip competitor Containerships, where he led the Finnish group’s aggressive growth from 2012. He also brings significant experience from the shipper perspective, having occupied progressively senior logistics roles in the chemicals, forest products and automotive sectors.

Pic: DP World

DP World UAE Wins Sustainability Award

The global port operator DP World's UAE Region has been recognised for its efforts to create a more efficient and sustainable supply chain when it was awarded the Supply Chain Sustainability Award at this year’s Gulf Petrochemicals and Chemicals Association (GPCA) Supply Chain Conference.Mohammed Sulaiman, Business Development Manager of DP World, UAE Region, received the award on behalf of the company at a ceremony held at the Intercontinental Hotel in Dubai’s Festival City,…

Photo: Maersk

Maersk India Trade Report Q1 2019

India’s containerized exports with the world witnessed a stable growth of 6% in the first quarter of 2019 propelled by robust performances in refrigerated cargo, engineering and pharmaceuticals sectors, while imports declined slightly in the same quarter registering a market growth of -2.2% in Q1. The import demand was buoyed by pharmaceuticals, metal, appliances and kitchenware, paper, chemicals and fruit & nuts, mainly from Northern Europe, South Asia, China and Russia. Exports were driven largely by the East and West of India…

​Wilhelmsen, Rainmaking Innovation Join Forces

Wilhelmsen and Rainmaking’s announced a partnership aiming to spin-out and scale-up existing innovative solutions researched and developed by Wilhelmsen with potential to scale across the industry. Wilhelmsen’s Digi Boiler is the first project to benefit from this collaboration.Minimizing the risks associated with poor boiler water management, Wilhelmsen’s automated boiler water dosing system monitors boiler water condition, dosing chemicals as and when they are needed. Delivering real-time condition monitoring…

Image: Danish Shipping

Danish Shippers to Install Scrubbers

Denmark-based shipping companies prefer to install exhaust gas purification systems, the so-called scrubbers, on their ships."The scrubbers clean the exhaust smoke from the engines and thereby remove Sulphur and other particles which enable the ships to meet new international requirements," says Danish Shipping, which represents the danish shipping industry.With its 183.2-meter long hull, Torm Laura takes up a lot of space at the FAYARD yard on Funen, Denmark. Every day, the ship transports everything from oil to chemicals on the seven oceans…

© THATREE /Adobe Stock

Freight Volumes Impacted by World Economy

Freight volumes in the United States and around the world are falling, signalling tougher times for manufacturers amid escalating trade tensions and heightened uncertainty.Freight volumes in the United States were up by just 0.8% in the three months from March to May compared with the same period a year earlier, according to the Bureau of Transportation Statistics.Volumes fell year-on-year in May, for the first time in more than two and half years, according to the agency's transportation services index.Freight is growing at the slowest rate since the mid-cycle slowdown of 2015/16…

File image / AdobeStock / © dbvirago

Marseille Fos Accelerates Air Emissions Cuts

Among a string of new eco-friendly initiatives, the Marseille Fos port authority is to spend $22 million over the next six years to extend shoreside electrical connections for berthed vessels to every ferry, cruiseship and repair quay within the Marseille eastern harbor.Already available on the Corsica ferry quays, the network will be expanded in two phases to cover North Africa ferry quays and the shiprepair hub by 2022 and the cruise terminal between 2022 and 2025. The zero…

Photo: Bahri

Bahri Expands Footprint in Asia-Pac

The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company…

Photo: NYK

NYK Bags Environment Award

Tokyo-headquartered shipping and logistics company Nippon Yusen Kaisha (NYK) has received the Ministry of Environment Award in the Japan Green Innovation Department at the Japan Green Bond Awards sponsored by Japan’s Ministry of the Environment, which is promoting green bond to address environmental issues.A ceremony was held on March 1 and attended by Katsuya Nakano, general manager of NYK’s Finance Group, said a release from the global transportation company.The Japan Green Bond Awards recognize outstanding initiatives in the issuance of green bonds…

“Polar Mexico” (Photo: Hamburg Süd)

Hamburg Süd Christens “Polar Mexico”

Hamburg Süd christened the “Polar Mexico” container ship in the Mexican port of Veracruz on the weekend.The sponsor of the “Polar Mexico” is Claudia Dávila, wife of Carlos Ayala, Logistics and Distribution Director of Alpek Polyester, which is a subsidiary of the Alfa Group, one of the largest corporate groups in Mexico.The Mexican economy is strong in the fruit sector as well as in other industries with high import and export volumes, such as automobile manufacturing, chemicals and brewing.

File Image: an aerial view of the port of Houston petrochemical refining complex. CREDIT: AdobeStock / © Irina K

Air Quality Monitored as TX Tank Blaze Rages

Houston officials and environmental groups raced to expand air monitoring on Tuesday after a raging fire at a Mitsui & Co petrochemical storage site produced billowing acrid smoke that could be seen and smelled miles away.The blaze at Mitsui unit Intercontinental Terminals Co in Deer Park, Texas, burned for a third day after firefighting water pumps broke down for six hours on Monday evening, the company said.The fire began on Sunday when a leaking tank containing volatile naphtha ignited and flames quickly spread to nearby tanks…

Photo: Schmidt Ocean Institute

A SmallSat AUV Network

There’s more to a global network than satellite links, and yet sat-linked remote operations experts can heap huge scientific and technological gains on the world. That’s what’s happening in the background — a smallish network of the best scientists from around the world are orchestrating the communications and robotics that’ll yield groundbreaking achievement in the networked use of autonomous underwater vehicles, or AUVs.If you contact Professor Kanna Rajan, as we did, he’ll tell you he’s not the world’s foremost “drone” researcher…

The sprawling Houston area refining complex adjacent to the Houston Ship Channel. CREDIT: AdobeStock / © Irina K)

Tanker Bottleneck Eases for Port of Houston

Four tankers on Thursday were preparing to offload or pick up cargoes in the busiest U.S. oil port, the first signs of an easing of the bottleneck that cut 1 million barrels per day of shipments, according to vessel tracking data.The Houston Ship Channel reopened this week with operating restrictions following a fire at Mitsui & Co Inc's Intercontinental Terminals Co (ITC) in Deer Park, Texas. That blaze sent fuel and chemicals into the waterway, which connects Houston to the…

Pic: Maersk

India Box Trade Grew 6% in Q4 2018: Maersk

India’s containerised trade with the world has grown steadily, recording an overall import-export trade growth of 6% according to the Q4 2018 trade report released by Maersk, the world’s largest container shipping company.Increasing demand for refrigerated cargo from India coupled with improved trade relations with China with introduction of favourable trade policies, has driven exports to grow a healthy 3% in Q4.The demand for India-made goods such as vehicles, cereals and rice…

Photo: Qatar Petroleum

QP Ships Naphtha to Thailand

Qatar Petroleum (QP), a state owned petroleum company of Qatar, said that it had concluded a 10-year sales agreement to supply Thailand's SCG Chemicals with a total of 3 million metric tons of light naphtha starting from this month.The agreement was made for and on behalf of the Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), Qatar Petroleum said in a press release.This long-term supply agreement is the first QPSPP naphtha feedstock sale to an end-user in Thailand…

Image: Royal Vopak

Vopak Sells 3 Terminals First State Investments

Dutch oil and chemicals storage company Royal Vopak has agreed to sell three terminals - Algeciras, Amsterdam and Hamburg - to First State Investments for 723 million euros ($812 million)."This divestment follows the strategic review of these terminals as announced on 17 August 2018. The transaction is subject to certain customary closing conditions and is expected to complete in the second half year of 2019. The combined operational capacity of the three terminals is 2,288,000 cbm…

Pic: Navig8 Chemical Tankers Inc.

Navig8 in Sale, Leaseback Pact with China Bank

Navig8 Chemical Tankers  entered into sale and leaseback agreements with ICBC Financial Leasing for four ships.The tanker company focuses on the maritime transportation of Chemicals worldwide said in a press release that the net proceeds from the transaction of four of the Company’s IMO2 37,000 DWT Interline coated tankers  were $94,710,000.A portion of the proceeds was utilized to repay existing loans used to finance the Vessels’ newbuilding contracts under the multi-bank loan facility announced by the Company on February 3…

Image: Organisation for Economic Co-operation and Development

Fakes Make Up 3.3% of Global Trade

Trade in counterfeit and pirated goods, mostly originated in China, has risen steadily, posing a major challenge in an innovation-driven global economy, revealed a new study.Trade in counterfeit and pirated goods has risen steadily in the last few years – even as overall trade volumes stagnated – and now stands at 3.3% of global trade, according to a new report by the Organisation for Economic Co-operation and Development (OECD) and the EU’s Intellectual Property Office.Trends…

TX Refineries Cut Output as Spill Curbs Shipping

Royal Dutch Shell Plc and LyondellBasell Industries cut production on Monday at their Houston-area oil refineries because of shipping disruptions along a waterway affected by a petrochemical fire and spill, according to people familiar with the matter.A fire and fuel leak at Mitsui & Co Inc's Intercontinental Terminals Co (ITC) storage facility in Deer Park, Texas, last week sent gasoline, water and fire suppressant foam into the Houston Ship Channel, which connects Houston to the Gulf of Mexico, and is home to nine oil refineries.The U.S.