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Tuesday, January 28, 2020

Chemicals News

 Image: Saudi Aramco

Sempra LNG, Aramco Sign Deal

North American energy infrastructure company Sempra Energy and Saudi Aramco's Aramco Services Company, signed an Interim Project Participation Agreement for the Port Arthur LNG export project under development in Jefferson County, Texas.According to a press release, the IPPA represents another milestone for both companies after having signed a heads of agreement in May last year for the purchase of 5 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) and a 25% equity investment in the Port Arthur LNG project.Jeffrey W.

Feel the Power of Methanol: These 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. 
Photo: Methanex Corporation

IMO2020: Methanol Proves Promising

When the clock strikes midnight on December 31, 2019, the maritime world enters a bold new era of emission reduction. With its growing fleet of methanol fueled ship and more than 60,000 hours of operating experience under its belt, Waterfront Shipping Company has a five-year headstart.As a general rule, shipowners are remiss to share insights on their operations, lest their competitors catch wind and leverage the same technology and savings. The case of Waterfront Shipping Company Ltd.

Photo: Maersk

Maersk India Trade Report Q3 2019

India’s import and export container trade in Q3 2019 (July-September) remained flat as compared to global growth of 1.5%. The slowdown is aligned closely with the weaker domestic demand, as well as a reflection of the broad-based cyclical weakening of the economic environment in all the main global economies. The negative effects from escalating trade restrictions also weighed on trade growth in the quarter. The trade restrictions have reduced bilateral trade between the United States of America and China…

AdobeStock / © rawf8

U.S., China Reach Trade Deal 'in principle'

The White House has reached a "deal in principle" with Beijing to resolve the 17-month U.S.-China trade war, according to a source briefed on the trade talks.The White House was expected to make an announcement later on Thursday, the source said."The written agreement is still being formulated, but they have reached an agreement in principle," the source said. No details were immediately available.In an attempt to secure a "phase one" trade deal, U.S. negotiators offered to cut…

© Mike Mareen / Adobe Stock

Bahri Looks to Make LNG Foray

Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday.No further details were immediately available and Saudi Aramco declined to comment. EOIs are preliminary enquiries that may or may not turn into full-fledged orders.According to Bahri's website, the national shipping carrier of Saudi Arabia has six business units dealing in oil…

Image: Odfjell SE

Odfjell Adds Navig8 Chemical Tankers

Navig8 Chemical Tankers, an international shipping company focused on the transportation of chemicals,  has agreed to enter four of its 25,000-dwt chemical tankers into a pool operated by the Norwegian tanker owner and operator Odfjell.Following the delivery of the vessels, the 'Chempool25' will total 19 vessels with Odfjell contributing with ten vessels, CTG five vessels and N8CTI four vessels. Odfjell will continue to be the operator of all vessels in the pool.“We are pleased to welcome N8CTI as a partner.

Image: Watson Farley & Williams

CMBFL Sells and Lease Back 20 Tankers

CMB Financial Leasing (CMBFL) sign a $415.6 million sale and lease back transaction of 20 chemical tankers with Stolt Tankers, a UK-based provider of transportation and storage for liquids, notably specialty and bulk liquid chemicals, the proceeds of which were used to refinance certain debt secured on the vessels.Watson Farley & Williams (WFW), the international law firm based in London, has advised on this transaction. The leases were of a hybrid nature combining elements of both financial and operating leases.Founded in 2008…

Image: Navios Maritime Acquisition Corporation

NMAC Acquires 5 Product Tankers

Navios Maritime Acquisition Corporation (NMAC), a Greece owner and operator of tanker vessels, announced the agreement to acquire five product tankers in liquidation of Navios Europe I Inc.On November 22, 2019, an agreement was reached to liquidate Navios Europe I. As of September 30, 2019, Navios Acquisition had a receivable of $32.3 million from Navios Europe I. This receivable along with debt financing will be used to finance the Acquisition. The agreement is subject to definitive…

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition. File Photo: Navios

Navios Acquisition Fleet Reaches 41

Navios Maritime Acquisition Corporation, the provider of transportation of petroleum products (clean and dirty) and bulk liquid chemicals, announced that its fleet consisted of a total of 41 vessels as of November 7, 2019.The owner and operator of tanker vessels said that out of 41 vessels, 13 are very large crude carriers (VLCCs) (including three bareboat chartered-in VLCCs expected to be delivered in the third and fourth quarters of 2020 and the third quarter of 2021), 26 are product tankers…

Image: Port of Rotterdam Authority

Rotterdam Port Strengthens Presence in India

The Port of Rotterdam Authority is intensifying its joint activities with parties in India. 'As one of the fastest growing economies in the world, India is investing heavily in the development of seaports, industrial areas and hinterland connections.The largest port in Europe will sign two Memorandums of Understanding (MoUs) with India, appointed an office and also supported the establishment of a maritime university that will partner with Rotterdam's institutions, marking the…

Pic:  International Maritime Organization (IMO)

BWM Convention Modification Enter into Force

The amendments to an international treaty aimed at preventing the spread of potentially invasive species in ships’ ballast water came into force yesterday (October 13), the International Maritime Organization (IMO) said.Ships regularly take on sea water, in tanks, to ensure their stability. Known as ballast water, this can contain many aquatic species, including in microscopic or larval form. These can become invasive and harmful if the ballast water is released, unmanaged, in…

Photo courtesy of IMO

Addressing Invasive Species in Ships’ Ballast Water

The BWM Convention amendments formalizing the implementation schedule for the D-2 standard are now in force. Amendments to an international treaty aimed at preventing the spread of potentially invasive species in ships' ballast water entered into force on October 13, 2019.Ships regularly take on sea water, in tanks, to ensure their stability. Known as ballast water, this can contain many aquatic species, including in microscopic or larval form. These can become invasive and harmful if the ballast water is released…

file image (credit: AdobeStock / © dbvirago

U.S. Sanctions Deal Blow to LSFO for 'IMO 2020'

Highly sought after types of oil best suited to making cleaner shipping fuel are suddenly finding they are a tougher sell for thirsty East Asian markets, traders say, in an unintended consequence of U.S. sanctions on a Chinese shipping fleet.With just over two months until environmental rules are set to mandate the biggest changes to ship power in over a century, certain rare types of West African oil have soared in value but have had to be marked down due to the higher costs of transport.The United States imposed sanctions on units of China's COSCO on Sept.

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…

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…

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.

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…

“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…

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…

© 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…

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.

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…

​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…

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…

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.