Low EU River Stir Fuel Markets in Singapore
Rhine water levels hit record lows in October; river is a key fuel transport hub for Europe.Low water levels on the Rhine river have caused a fuel supply deficit in parts of Europe's industrial heartlands that is sucking up cargoes from more than 10,000 km away in Singapore.Following a long, scorching summer, water levels on the Rhine - a key commodity shipping lane connecting industrial centres in Switzerland, Germany, France and the Netherlands to major seaports - fell to record lows…
S.Korea LNG Imports Set to Ease from Record
South Korean imports of liquefied natural gas are set to ease from record levels racked up in the first-half of the year, with appetite for the fuel from utilities seen fading as a raft of nuclear power stations come back online.The country's imports of the commodity jumped nearly 16 percent year-on-year to a record 22.7 million tonnes in the first six months of 2018, according to customs data in mid-July, boosted by demand from power firms as around half the nation's 24 nuclear…
US Oil Exports to India Soar Ahead of Iran Sanctions
U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration.U.S. President Donald Trump's administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India's shift advances the U.S. administration efforts to use energy to further its political goals.The United States has become a major crude exporter…
India Cuts Iranian Oil Imports Ahead of Sanctions
Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November.India's monthly oil imports from Iran declined to 592,800 barrels per day (bpd) in June, down 16 percent from May, according to data from industry and shipping sources.The United States in May said it would reimpose the sanctions after withdrawing from a 2015 agreement with Iran, Russia…
Tokyo Gas Takes First LNG Cargo from Cove Point
Japan received its first shipment of liquefied natural gas (LNG) on Monday from Dominion Energy Inc's newly completed Cove Point export plant, the beginning of a jump in imports from the United States by the world's biggest buyer of the fuel.The docking of the tanker LNG Sakura at Tokyo Gas Co's Negishi terminal near Tokyo is another marker of shifting global energy flows as the United States ramps up exports of gas and oil from shale formations.The cargo is the first of 2.2 million tonnes of LNG a year Japanese companies are purchasing under long-term contracts from Cove Point in Maryland.
Subsea 7 to Invest in Xodus Group
Leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry Subsea 7 S.A. and Chiyoda Corporation announced that Subsea 7 has agreed to acquire a 60% holding in Xodus Group, a leading energy consultancy, from Chiyoda. Yokohama-based Chiyoda, which provides services in the fields of engineering, procurement and construction on a global basis for gas processing, will retain a 40% holding as a joint venture partner. This investment…
Top LNG Buyers Form Alliance to Push for Flexible Contracts
The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Japan, China and South Korea are the world's biggest LNG importers, accounting for about 55 percent of global purchases, according to data from energy consultancy Wood Mackenzie. The countries' biggest respective buyers are joining together to extract concessions from producers that would give them supply flexibility such as having the right to re-sell imports to third parties…
Andrew Garrad to Retire from DNV GL
Dr. Andrew Garrad, the co-founder of Garrad Hassan, has announced he will retire from DNV GL on December 23, 2016. Following the merger between DNV and GL Garrad Hassan two years ago, Andrew ceased to play an active operational role in the company, but remained associated with DNV GL, as advisor, as Chairman of Bristol’s year as European Green Capital (which DNV GL sponsored) and as President of the European Wind Energy Association 2013-2014. He co-founded Garrad Hassan in 1984 and became President of GL Garrad Hassan after Germanischer Lloyd (GL) and Garrad Hassan merged in 2009.
A Year is a Long Time in Tankers
The latest Gibson Market Report focused on the age profile of the VLCC fleet and the prospects for trading life beyond 15 years of age. Analysis of the Suezmax fleet shows a similar picture, with eighty-nine units over15 years of age (18% of the current fleet) the preferred upper employment limit set by most charterers. However, many of the older units are able to trade in the shuttle markets, where age is not so much of an obstacle. In fact, sixty percent of the current Suezmax shuttle fleet is over 15 years old.
North P&I Publishes Loss Prevention Guide on Bulk Cargoes
The 175 million GT, ‘A’ rated North P&I Club has published a major new guide for the international shipping industry on how to reduce losses when carrying bulk cargoes by sea. The 280-page Bulk Cargoes: A Guide to Good Practice adds to North’s comprehensive portfolio of guidance provided about different cargo types and is the first to be made available in both print and e-book formats. Bulk Cargoes explains the basic rules to be remembered on every occasion during loading, carriage and unloading of bulk cargoes.
Renewables Consulting Group Adds 2 Execs
Two executives from the renewables industry have been appointed by The Renewables Consulting Group (RCG) to oversee the firm’s day-to-day business, develop its global growth strategy and direct short- and long-term planning for the company. Sebastian Chivers has taken up the role of chief executive officer, and Dr. Lee Clarke as chief operating officer. The duo brings deep industry expertise, particularly in the areas of strategy and management, and together will spearhead the delivery of new, top-tier and cost-effective solutions for the consultancy’s clients, the group said.
Oil Surges After Brent Crash
Brent crude jumped almost $2 a barrel on Friday for its biggest daily gain in three weeks as support emerged a day after prices crashed to four-year lows below $80, but analysts were skeptical the rebound would continue, citing concerns over oversupply. Brent crude jumped almost 3 percent, recouping Thursday's drop and limiting losses from an eighth straight weekly drop that made the global benchmark a bargain for some. Brent remains below $80 a barrel, compared with a June high above $115. U.S. crude rose 2 percent, the most since Sept.
BMT Oceanica Wins APPEA Study
Marine and coastal environment specialist, BMT Oceanica (BMT), a subsidiary of BMT Group Ltd, has been awarded the Australian Petroleum Production & Exploration Association’s (APPEA) “Understanding the Risks of Unplanned Discharges” study. BMT Oceanica will be working with Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) to deliver this key project which will update current knowledge on the potential environmental impacts of unplanned releases of hydrocarbons and other chemicals into the marine environment.
Xodus Appoints New Operations Director For London
International energy consultancy Xodus Group has appointed Alistair Porter as Operations Director for London to drive forward business across the company’s technical and commercial activities. Based in London, Mr Porter has been with Xodus since it was founded seven years ago and previously held the role of Global Process and Facilities Director where he managed a team of 130 engineers. As Operations Director for London, he will be responsible for growing the financial and operational performance of the London Business Unit.
Xodus Group Launches Ops in Middle East
CEO and CFO to be based in new Dubai office. International energy consultancy Xodus Group has invested £2million in launching a Middle East operation in Dubai as part of its global expansion strategy. An initial team of 19 will be based in the company's new office in the Jumeirah Lake Towers area and will be investing in operations across the Middle East region while offering a full suite of integrated services with a strong focus on Total Field Development. CEO and CFO of Xodus…
Ignore the Bluster – Wind Farm Power is Effective
A UK Institute for Public Policy Research (IPPR) research paper dismisses illusions about wind power as an energy resource. Much opposition to wind power appears to be based on the belief that it is an ineffective technology, inefficient or unreliable. This claim is untrue and it is important to get ‘beyond the bluster’ in assessing the effectiveness of wind power. • Is wind power an effective way of reducing carbon emissions? • Is wind power a secure and reliable source of energy for the UK?
Energy Sector Taps Ex-Military Personnel to Bridge Talent Gap
Oil and gas industry offers ex-military personnel chance for a challenging second career. A former soldier has swapped foreign battlefields for the oil and gas industry, highlighting the vital role transferrable skills can play in addressing talent shortages within the energy sector. Duncan Harwood spent five years in the armed forces, leading soldiers on tours of Iraq and Northern Ireland, along with managing construction sites in the Falkland Islands. The 32-year-old has now joined Aberdeen-headquartered independent energy consultancy ADIL as a subsea project engineer.
Market Report on High Altitude Wind Energy
The world’s demand for safe and clean energy continues to grow, with renewable sources playing an every greater role. Wind power generation, having expanding offshore, is now not only looking out but up. International renewable energy consultancy, GL Garrad Hassan, has issued the first market report which analyses the burgeoning new industry of High Altitude Wind Energy (HAWE). HAWE systems are designed to tap into the high velocity, stable air currents that exist at altitudes anywhere from 200m to 20 km above the earth…
Offshore Contract for Noble Denton and GL
Noble Denton and Germanischer Lloyd (GL) will support European leading utilities cooperative Trianel GmbH with technical support and project management of its 400 MW offshore wind farm Borkum West II. The installation of the first phase is scheduled to start in 2011/2012. It consists of 40 of the planned 80 turbines on the site and the Offshore Substation. The wind farm will be located approximately 45 km north of the German island of Borkum. The site is immediately adjacent to the smaller Alpha Ventus site which is currently under development.