COVID-19 Weighs on Great Lakes-Seaway Shipping
While St. Lawrence Seaway cargo volumes decreased during the past two months due to economic shifts related to COVID-19, industry leaders said the binational trade and transportation corridor is ready to play its part in the economic recovery efforts in the coming months. Meanwhile, with an increased focus on commodity diversification through project cargo, international shipments of wind energy components in the Great Lakes region are taking off.Overall St. Lawrence Seaway tonnage from March 15 through May 31 totaled 7.7 million metric tons, down 10% compared to the same time period in 2019.
CMA CGM Aims to be Carbon Neutral by 2050
French-based CMA CGM, the world’s fourth-largest container shipping group, said on Tuesday it would aim to become carbon neutral by 2050.The company, headquartered in the Mediterranean port of Marseille, also announced in a statement a target for 10% of its energy supplies to be made up of alternative fuels by 2023.CMA CGM, which was citing objectives set out by Chairman and Chief Executive Rodolphe Saade during a United Nations conference, is following market leader Maersk in aiming to reduce its net carbon emissions to zero by 2050.The French group…
Admiral Schultz Emphasizes Maritime as a Driver of U.S. Commerce
Last month Maritime Reporter & Engineering News was invited to join Admiral Karl Schultz, the Commandant of the United States Coast Guard, on a trek to New Orleans for an underway tour on board a mid-stream transfer operation in the Mississippi River. As the U.S. inland waterway system has endured historic water levels for more than six months, the destination provided a perfect backdrop to discuss several key messages coming from USCG leadership: the maritime industry’s critical role in facilitating U.S.
Lithuania Plans to Buy an FSRU
Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas.Klaipedos Nafta is currently leasing a floating storage and regasification unit (FSRU), called Independence, from Norway's Hoegh LNG.The use of the vessel has allowed Lithuania to import LNG since 2014, breaking the monopoly Russia's Gazprom had on natural gas supply to the country as well as neighboring Latvia and Estonia."This will keep us able…
US Downplays Impact on LNG Exports from China Trade Spat
Growing demand from other countries for U.S. liquefied natural gas (LNG) means that the United States is not concerned about a decline in exports to China amid the trade dispute between the countries, a U.S. government official said on Monday.U.S. Department of Energy Deputy Secretary Dan Brouillette downplayed China's lower imports of American LNG and other energy products following the imposition of tariffs on imports by both sides."I am not quite sure if it is going to have any impacts at least in the near term," he told reporters in Tokyo at a media briefing held by the U.S.
Greek Shipowners Meet Danish Shipping
The Union of Greek Shipowners (UGS) has welcome to its premises the Board of Directors of Danish Shipping in the context of the bilateral meetings of the two national shipowners’ associations.Representing two traditional maritime nations, the Board of Directors of Danish Shipping, headed by its Chairman, Niels Smedegaard, met with the President,Theodore Veniamis and members of the UGS Board of Directors and engaged in what was described by both sides as “an open and constructive…
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.
Swiss Fleet Dwindles as State Guarantees End
A dozen ships from the Swiss high seas fleet are being sold off as the global shipping crisis takes its toll on the quirky remnant of landlocked Switzerland's efforts to ensure supplies of essential goods at times of international unrest. Worried about the security of food and energy supplies during wartime, Switzerland launched its high seas fleet in 1941, putting Swiss flags on tankers and freighters it could call on at times of need. But as times changed and supply routes became more stable…
ECLUSE Project Wins Sustainability Award
The ECLUSE project for a heat distribution network to replace the piecemeal energy supplies for chemical companies in the left bank area has won the first ever Sustainability Award presented by the Antwerp Port Community. The project garnered the majority of votes from the expert jury members and public alike, with the other podium places going to the remaining nominees Qpinch, Gyproc and BASF Antwerpen. Once the ECLUSE project is operating at full capacity it will be one of the largest industrial heating clusters in Europe…
Qatargas, RWE Ink SPA Deal for LNG Deliveries
Qatargas, the World’s Premier LNG Company, today announced a flexible Sale and Purchase Agreement (SPA) with RWE Supply Trading (RWEST), a leading European electricity and gas company. Qatargas will deliver up to 1.1 million tonnes of Liquefied Natural Gas (LNG) per annum to RWEST in North West Europe for seven and a half years. Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive Officer and Chairman of Qatargas Board of Directors, said: “Qatargas is committed to providing reliable, clean energy to consumers all over the world.
India to Import LNG from Australia
India may contract long-term supplies of liquefied natural gas (LNG) from Australia if price is comparable to Indian coal which remains the fuel of choice for power generation companies in New Delhi. Power Minister Piyush Goyal, who is currently on a visit to Australia for energy dialogue, conveyed India’s willingness to buy Australian LNG during a roundtable in Brisbane. Goyal stated that additionally, opportunities to control the entire value chain right from gas production…
Eni Finds Giant Egyptian Offshore Gas Field
The Italian energy major Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea. The Zohr gas field covers any area of 100 square kilometers and Eni said that "it could become one of the world’s largest natural-gas finds” and supply Egypt's needs for decades. Eni, owned by the Italian government, said that the field contains an estimated 30 trillion cubic feet (TCF) of natural gas. This compares with up to 22 TCF in Israel's Leviathan field.
U.S. Energy Security: Maritime Infrastructure Investment is a Key, says Moniz
The maritime industry was front and center yesterday in Washington, D.C., as “getting more oil on the water” was touted as one piece of the puzzle in ensuring future U.S. energy security, said U.S. Secretary of Energy Ernest Moniz. Sec. Moniz spoke yesterday at the U.S. Energy Information Administration (EIA) 2015 EIA Energy Conference at the Renaissance Downtown Hotel in Washington, DC. Building U.S. energy security via a strategic evaluation of the U.S. Strategic Petroleum Reserve (SPR) was central to his comments…
Taylor to Chair NOIA Board
The National Ocean Industries Association (NOIA) Board of Directors has elected Cindy B. Taylor as Chair and Kevin McEvoy as Vice Chairman for the upcoming 2015-2016 term. Taylor and McEvoy assumed their positions at the NOIA Annual Meeting today in Washington, DC. Since 2007, Cindy has served as President and Chief Executive Officer of Oil States International, Inc., a publicly traded diversified oilfield services company headquartered in Houston. She also serves on the company’s board of directors, and has been NOIA’s Vice Chair for the 2014 -2015 term.
Pentair Delivers Sustainable Access to Pure, Safe Water
As a global manufacturer with the resources, technologies and expertise to make a positive impact in the world, Pentair is pleased has announced that its Project Safewater efforts have provided over 1 million people with sustainable, safe water services around the world. Through Project Safewater, the company's holistic approach to providing safe water solutions to people in need, Pentair collaborates with a range of partners with innovative approaches - combining technology, micro-enterprise business models, and scientific research - to provide sustainable access to safe water.
Rosneft, Petrocas in Logistics & Retail JV
Rosneft has entered into definitive documentation to acquire 49% stake in Petrocas Energy International Limited (“Petrocas”), creating the joint venture (“JV”) for its activities in the South Caucasus region. The deal represents an important growth opportunity for Rosneft – Petrocas owns and operates high-quality storage assets in one of the main oil and oil products logistics hub in the region. Through the JV Rosneft will considerably expand its presence in the region, amplify its geographic reach, and further diversify its supply routes options.
Eni's New Head Caught between Russia and New Frontiers
Claudio Descalzi faces a delicate balancing act as he takes the helm of Italian oil major Eni - guaranteeing Italy's gas supply by nurturing relations with Russia, while exploring new drilling frontiers in Africa and Asia to boost profit. The Italian government's choice of Descalzi, a longtime oil man with more than 30 years experience at the group, gives Eni a leader who is likely to push forward his predecessor Paolo Scaroni's efforts to focus the company on its nuts and bolts business of finding and mining new oil and gas fields.
Forewind Spends to Make North Sea Wind Zone a Reality
The latest seabed survey of the Dogger Bank offshore wind zone takes the cost of the Forewind consortium's spend on offshore surveys to almost £45 million. Since being awarded the rights to develop Dogger Bank in January 2010, Forewind has undertaken a huge range of geotechnical, geophysical and fish ecology surveys to understand and characterise the seabed and marine conditions of the zone as part of its environmental impact assessment work. The majority of the contracts have gone to UK companies including Hull-based Precision Marine Survey Limited…
ExxonMobil Supports LNG Free Trade
Major oil company ExxonMobil supports export of US Liquefied Natural Gas (LNG) which it considers will benefit the whole economy. Technology developed by the oil and gas industry has opened up vast energy resources across the country, which has resulted in a tremendous increase in U.S. oil and natural gas production and reserves. This increase in production has created jobs, strengthened businesses and investment, and revitalized cities and regions across America, a trend which will likely continue to grow in coming years.
US Offshore Wind Survey Contract for Fugro Atlantic
Fugro Atlantic to undertake a geological and geophysical survey for the Virginia Wind Energy Area for the Commonwealth of Virginia. The survey area covers over 45,000ha in the Atlantic Outer Continental Shelf and is seen to be a key step forward in developing offshore energy supplies in the region. Fugro Atlantic vice president Tom McNeilan, indicated that the Atlantic Outer Continental Shelf has never been developed for energy purposes and there is little record of how installed structures have performed and only basic knowledge of the character of the seafloor and sub-surface is available.
LR CEO on UK's Reckless Attitude Towards Its Shipping Industry
Keynote speech by Richard Sadler, CEO Lloyd’s Register, at the annual Donaldson Lecture to the Lloyd’s Market Association. "I have always been fascinated by the assertion of Martin Stopford, the respected Clarkson analyst, that merchant shipping is the biggest poker game in the world. Since hearing it, I increasingly believe that working out the odds of ensuring consistent prosperity is so difficult that it is more like the game of roulette. In roulette, the odds are designed so that, over time immemorial, the punters will always lose 5.28 cents of every dollar they wager.
Corvus Energy Supplies Battery Pack, Systems, to 'Viking Lady'
Corvus Energy supplies world's first commercial ship with a fuel cell specially adapted for marine use. Following the success of the installation and demonstration of the fuel cell power pack on board, Viking Lady recently entered into a third project phase in which energy storage capability in the form of Corvus’ AT6500 lithium-polymer battery pack is being integrated in the power system. The lithium-polymer battery is comprised of 6.5 kWh modules, has a capacity of 455 kWh, and is capable of delivering up to 4MWh bursts over a short period of time.
GEST Comments on Mark-Up of New "Five Year Plan"
The Gulf Economic Survival Team today commented on the House Natural Resources Committee’s mark-up of H.R. 6082, a bill that seeks to replace the President’s “Five-Year Plan” for Outer Continental Shelf (OCS) oil and gas leasing. “We applaud Chairman Hastings for leading the charge to generate more robust offshore energy activity in the next five years,” said Lori LeBlanc, Executive Director of the Gulf Economic Survival Team. “As the Chairman understands, offshore energy production is a complex endeavor that necessitates years of planning and upfront capital investment.
The Changing Face of the VLCC Market
With so much discussion of the poor freight rates available to VLCC owners hiring their ships out for voyages from the Middle East to major consumers east and west, it is informative to see how much the spot market for VLCCs has changed in just a few years. Since 2005, there has been a 25% reduction in reported AG/West spot VLCC voyages from 291 in 2005 to 216 in 2011. Just 11 AG/West fixtures were recorded in January 2012; if annualised the total would be 180, only 62% of the number recorded in just seven years earlier.
OFFSHORE: Shell Invests in Major New GOM Discovery
Shell announced a multi-billion dollar investment to develop its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico (GoM). The Cardamom project is expected to produce 50,000 barrels of oil equivalent (boe) a day at peak production and more than 140 million boe over its lifetime.“Technological advances in seismic imaging and drilling have allowed us to both discover and access this new field,” said Marvin Odum, Shell Upstream Americas Director. “This is another sizeable deep-water investment by Shell that strengthens energy supplies to the USA.
Danfoss Sees Opportunities After COP15
Although the delegates to the 15th United Nations Climate Change Conference (COP15) Dec. 7 - 18 in Copenhagen failed to agree on a legally binding replacement of the Kyoto Protocol, many opportunities already exist to save energy and reduce carbon emissions through improved energy efficiency in homes, schools, offices and other commercial buildings. "While it's true that the removal of political and economic barriers would provide a significant boost to global energy efficiency…