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Monday, January 18, 2021

Energy Markets News

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Maersk Names Zero Carbon Shipping Center's Management Team

The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping on Tuesday announced its management team. to join CEO Bo Cerup-Simonsen in building an organization capable of facilitating the transition to a carbon free global shipping industry.Made possible by a DKK 400 million ($63.5 million) donation by the A.P. Møller Foundation, the Center was formed in June by a group of global shipping entities committing themselves to decarbonizing the maritime industry. The Center, which recently revealed its Board of Directors and a location at the heart of the Danish Shipping cluster in Copenhagen…

(Photo: DNV GL)

Baksaas Appointed DNV GL’s Chair of the Board

Former Telenor CEO Jon Fredrik Baksaas has been appointed as DNV GL’s new chair of the board, the Norwegian-headquartered classification society announced.Best known for his 13-year tenure as president and CEO of the telecoms firm, Baksaas started his career with DNV (as it was then known) and spent six years at the company before leaving in 1985. He has also served as member of the DNV Council for 12 years.“DNV GL is a company that is well positioned to take a role as a trusted voice to tackle the global transformations the world is facing.

Håkan Agnevall (Photo: Wärtsilä)

Wärtsilä Names Håkan Agnevall as President and CEO

Finland-based marine engine and technology provider Wärtsilä has appointed Håkan Agnevall as its next president and CEO.Agnevall, who currently president of Volvo's bus division, will start in his role no later than in April 2021, succeeding Jaakko Eskola, who will continue with the company as a senior advisor and executive until he retires on June 30, 2021, after 22 years with the group.Agnevall has been with the Volvo Group  since 2013. In the decade prior to that he held various leadership positions in Bombardier and in ABB…

(Image: Bureau Veritas)

Bureau Veritas Launches Online Maritime Training Courses

Bureau Veritas (BV) says it has launched the BVS eAcademy to provide online learning for marine and offshore energy markets across the globe.Led by BV Solutions Marine & Offshore (BVS M&O), BVS eAcademy offering more than 25 maritime courses developed from BV’s own internal training academy which, since 2016, has delivered more than 20,000 training sessions to more than 1,500 BV staff.Delivered online and on-demand, the course are suitable for maritime professionals, or students looking to develop their awareness and understanding of specific areas of expertise…

© Riekelt / Adobe Stock

Coronavirus Leaves China-bound Tankers Stranded

The coronavirus's effect on energy markets is worsening, as the sharp fall in demand in China, the world's largest importer of crude, is stranding oil cargoes off the country's coast and prompting shippers to seek out other Asian destinations.More than 1,360 people have died from the coronavirus in China, which has disrupted the world's second largest economy and shaken energy markets, with international benchmark Brent crude oil down 15% since the beginning of the year.Major international energy forecasters expect demand to fall in this quarter…

DeepOcean Moves UK HQ to Feethams House

DeepOcean, a global subsea services company, is set to move its UK headquarters to a new base in Darlington.The company specializes in engineering and marine works solutions for large subsea cable projects associated with offshore wind farms said that it has reached an agreement with Darlington Borough Council to relocate from its existing premises in the town to the top floor of the GBP 8.5 million (USD 11 million) Feethams House development.DeepOcean also has a center of engineering expertise and offshore maintenance facility in Blyth, Northumberland.

World’s First: Wärtsilä Hybrid Propulsion for Bulkers

The technology solutions provider for the marine and energy markets Wärtsilä has been selected to provide the complete system design and full equipment scope for two new 9300 DWT self-discharging bulk carriers featuring hybrid propulsion.The Finnish corporation announced that the ships will be the first of their kind to be fitted with a hybrid propulsion solution. They are being built for Norway’s Aasen Shipping at the Royal Bodewes shipyard in the Netherlands. The yard has also designed the vessels.

File image of a Bourbon offshore support vessel underway. CREDIT: Bourbon

Bourbon Assets Taken Over by Creditor Banks

French marine services group Bourbon Corporation, which has been in a court restructuring process after its business was hit by volatile energy markets, said its assets would be taken over by its creditor banks.Bourbon said the Marseille commercial court had ruled that Bourbon's assets would be transferred to Société Phocéenne de Participations (SPP) from Jan. 2, 2020.SPP is owned by BNP Paribas, Caisse Régionale de Crédit Agricole Mutuel Alpes Provence, Caisse Régionale de Crédit Agricole Mutuel de Paris et d'Ile de France…

Bluefield Expands in Americas

UK-based subsea geotechnical specialist Bluefield Geoservices has said that it is expanded into the Americas to meet growing demand in the sector.The subsea geotechnical services provider will initially open two offices in the US, one in the northeast US to serve the immediate demands of the offshore renewable energy market, and one in the southeastern US, to support ongoing operations in the Gulf of Mexico energy markets as well as projects in Central and South America.“This is an exciting time of growth for Bluefield Geoservices,” according to Dr. Peter Allan, Bluefield Director.

MHI Vestas Offshore Wind Appoints Co-CEO

The Board of Directors of MHI Vestas Offshore Wind has appointed Johnny Thomsen as the new Co-CEO following the resignation of Lars Bondo Krogsgaard.Thomsen is the former Vestas Senior Vice President of Product Management, said a press note from the Dutch offshore wind power solutions provider.“We are pleased to announce the appointment of Johnny Thomsen, as the new Co-CEO of MHI Vestas Offshore Wind,” said Anders Runevad, Chairman of the MHI Vestas Board of Directors.“Johnny combines substantial understanding and experience of the MHI Vestas platform with business acumen.

Steel Cut for 1st LNG-fueled Ship in France

MSC Cruises, a global cruise line registered in Switzerland and based in Geneva, has held a steel-cutting ceremony for its first new-generation World-Class ship at the Chantiers de l'Atlantique shipyard in Saint-Nazaire, France.The first of five liquefied natural gas (LNG) powered cruise ships on order, MSC Europa is the first LNG ship to be built in France.On the occasion of the cutting of the first steel ceremony held in Saint-Nazaire, MSC and Chantiers de l’Atlantique unveiled…

BLUE Acquires 20|20 Marine Energy Consultancy

Specialist maritime consultancy 20|20 Marine Energy (20|20) founded by bunker industry veteran Adrian Tolson has been acquired by UK-based BLUE, the business, brand and communications consultancy for the marine and energy markets.20|20 will be re-named BLUE Insight to provide commercial advisory and research services for key transformative areas within the maritime industry.The practice - which will be led by Adrian Tolson, 20|20’s Senior Partner - provides BLUE with a physical presence in North America…

“When the human element is considered, securing networks from cyber-attack is incredibly challenging.   Reducing human interaction with on board networks and computers by deploying a more standardized IT environment can minimize risks.”
-- Tore Morten Olsen, President Maritime, Marlink

Interview: Tore Morten Olsen, President Maritime, Marlink

Tore Morten Olsen, President Maritime, Marlink, discusses the pace and direction of high speed comms in maritime.Using metrics of your choice, put in perspective where we are today in terms of getting shipowners to adopt high speed communication solutions.The term broadband has been used in the maritime industry for at least a decade and if we are to follow the FCC’s definition which was upgraded to 25mbps from 4mbps (download) in 2015, then those high speed internet services are nothing of the sort.However, everything is relative.

Global Energy Takes Over Nigg Oil Terminal

Global Energy Group has reached an agreement with Repsol Sinopec Resources UK to take over the long-term operation of the Nigg Oil Terminal jetty under a new lease with Crown Estates Scotland.Since cessation of production from the Beatrice oil field, Repsol Sinopec has been exploring reuse options for the facilities at Nigg Oil Terminal, including the jetty.Under the agreed deal, the jetty will be operated as an extension to the Port of Nigg which has already established itself as a leading deep-water port servicing oil and gas…

A bourbon offshore support vessel underway (File image: CREDIT Bourbon)

Bourbon Receives Takeover Offer

French marine services group Bourbon Corporation, which has been in a court restructuring process after its business was impacted by volatile energy markets, said it had received a takeover offer for its assets."As part of the reorganization proceedings opened since August 7, 2019 by the Marseilles Commercial Court to the benefit of Bourbon Corporation and its affiliate Bourbon Maritime, Court Administrators have received a takeover offer," Bourbon said in a statement on Wednesday."This offer - made by a company owned by a group of French banks - concerns assets and activities of Bourbon Corpo

New ABB Chief Executive Bjorn Rosengren (CREDIT ABB)

New ABB CEO: Committed to the Next 5 Years

New ABB Chief Executive Bjorn Rosengren is committed to at least five years with the Swiss engineering group, Chairman Peter Voser said on Monday.Age or nationality was also not an issue in appointing the 60-year-old Swedish executive, Voser told reporters. Rosengren, the current CEO of Sandvik will turn 61, a month after taking over at ABB next March."Age didn't a play a role. What is important is the experience, it's the focus, it's the empowerment of people, it's the way a person drives the businesses.

Chart: BIMCO

BIMCO: VLCC Freight Rates from Gulf to China Doubles

VLCC spot freight rates between the Arabian Gulf and China rose 101% in the days between June 13, 2019 and June 20, 2019, in the aftermath of attacks on two tankers in the Strait of Hormuz. Spot freight rates for a VLCC, carrying 2 million barrels of oil, between the Arabian Gulf and China reached USD 25,994 per day on June 20, their highest level since March and significantly above the May average of USD 9,979 per day.Despite this increase, freight rates on this route only narrowly exceeds the daily break-even costs of a VLCC…

The VLCC MJAD, reported by Reuters as one of the vessels attacked. CREDIT: MarineTraffic.com / © piet verspui

Saudi Tankers Among Those Hit off UAE Coast

Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates and said it was an attempt to undermine the security of crude supplies amid tensions between the United States and Iran.The UAE said on Sunday that four commercial vessels were sabotaged near Fujairah emirate, one of the world's largest bunkering hubs lying just outside the Strait of Hormuz, but did not describe the nature of the attack or say who was behind it.The UAE had not given the nationalities or other details about the ownership of the four vessels.

Photo courtesy of ABS

ABS: Tech, Safety Drive Shipping Leadership

ABS Chairman, President and CEO Christopher J. Wiernicki spoke about the important role of the U.S. continuing to shape the future of global maritime energy, safety and sustainability during a keynote address at the opening session of the CMA Shipping 2019 Conference.“The U.S. energy landscape has been and will continue to be shaped by a relentless focus on improving technology and safety. When we speak about shaping the future of maritime energy use, we are really speaking about technology and safety driving energy leadership,” Wiernicki told attendees.

Wärtsilä Bags New Orders for Aquarius UV BWMS

Finnish technology giant in the marine and energy markets Wärtsilä Oyj announced that it has recently been awarded a number of contracts to supply its Aquarius UV Ballast Water Management System (BWMS) to global shipping operators.According to the provider of smart technologies and complete lifecycle solutions, the systems will enable the vessels to be compliant with the Ballast Water Management Convention regulations that entered into force in September 2017 for all new build vessels.The contracts cover in total 13 systems…

Subsea Innovation Bags Two Contracts with Royal IHC

Subsea Innovation, the supplier engineered equipment and technology used in the installation of subsea equipment for the offshore oil and gas, has announced two high profile contract wins with Royal IHC, as part of a collaborative framework agreement.A press release from the  offshore energy engineering compmany said that  will be supporting their client Royal IHC Limited on the design, development, manufacture and supply of back deck equipment on two projects to be completed throughout 2018 and 2019."For both projects…

Photo: Port of Corpus Christi

Port of Corpus Christi: $59m for Channel Upgrades

The U.S. Army Corps of Engineers (USACE) announced its Fiscal Year (FY) 2019 Work Plan, which includes an additional $59 million in funding for the Corpus Christi Ship Channel Improvement Project (CIP). This funding brings the total Federal appropriations for the CIP to $95 million. The estimated CIP cost is $360 million, of which the federal government is responsible for $230 million, while the Port of Corpus Christi is responsible for the remaining $130 million. To date, the Port of Corpus Christi has transferred $78 million of its own funds to the USACE…

Steelhead Asia Appoints Marina Surzhenko as New Director LNG

Steelhead Asia, a unit of the Canadian LNG export project developer Steelhead LNG, said that Marina Surzhenko has taken the role of Director LNG.Based in Singapore, Marina is responsible for developing Steelhead’s business in Asia as well as leading the negotiations of LNG offtake contracts.Marina is an energy and investment management executive with 20 years of global experience in gas and LNG contracts negotiations and contract management. During her time at Shell and Gazprom…

“This segment is focused on special operations and driven by different rules, so we decided to establish a dedicated expert team to specifically attend to the needs of the offshore market,” said Matthias Mueller, Managing Director of BSM Offshore.

BSM Launches a Offshore Division

In what can be construed as another positive sign for the turnaround of the offshore energy markets, Bernhard Schulte Shipmanagement (BSM) said it has set up a new business unit to focus on the oil and gas and offshore energy renewables markets.“This segment is focused on special operations and driven by different rules, so we decided to establish a dedicated expert team to specifically attend to the needs of the offshore market,” said Matthias Mueller, Managing Director of BSM…

Qatar to Maintain Dominance in Global LNG Market

Qatar will maintain its dominance over the global liquefied natural gas market despite increased supply from Australia and the United States, the weekly report by Qatar National Bank (QNB) said. A report in The Penisula quoting QNB said that Qatar currently accounts for 30.1 percent of the global market. The country captured nearly 70 percent of the new African demand, more than compensating for the lower cargoes to Japan. Amidst these market shifts, Qatar maintained its position as the world's largest and most cost-efficient producer…

ENGIE, Wärtsilä to Develop Small Scale LNG Markets

ENGIE has signed a Memorandum of Understanding (MoU) with Wärtsilä, a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets to develop solutions and services in the small scale LNG business. The cooperation covers four work streams: LNG for ships, LNG distribution in islands and remote areas, LNG to Power solutions and small scale LNG and bio liquefaction. Both ENGIE and Wärtsilä are committed to work for a low-carbon economy and shifting from coal or diesel towards LNG-solutions is an important step in the right direction.