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Wednesday, October 16, 2019

Itochu News

Yoshihisa Suzuki. Photo: Gazprom

Gazprom, Itochu Sign MoU on Baltic LNG

Russian oil and gas company Gazprom and Japanese trading house Itochu have signed a memorandum of understanding (MoU) on the proposed Baltic liquefied natural gas (LNG) export project."With this document, the parties confirmed their interest in potential cooperation in the framework of the project," said a press note from the Russian gas giant.A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Yoshihisa Suzuki, President and Chief Operating Officer of Itochu Corporation, took place in St.

Photo: Port of Indiana

CGB Expands Soybean Processing Plant

The Consolidated Grain and Barge Co. (CGB)  announced the completion of its $32 million expansion at its soybean processing facility at the Port of Indiana-Mount Vernon.CGB President and CEO Kevin Adams and CGB Senior Vice President Steve O'Nan joined Port of Indiana-Mount Vernon Port Director Phil Wilzbacher to welcome the expansion that will increase servicing opportunities for Indiana's soybean farmers and increase product supply for agribusiness customers.CGB originates and markets grain and oilseeds for domestic and international markets.

LNG Schneeweisschen. Photo: Mitsui O.S.K. Lines

MOL Takes Delivery of LNG Schneeweisschen

Mitsui O.S.K. Lines (MOL) announced that  the LNG carrier, LNG Schneeweisschen, jointly ordered by MOL and Itochu Corporation was delivered on July 31st at the Okpo shipyard by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea.The 180,000 cbm newbuilding has entered in to a Transportation Service contract for several voyages with Uniper Global Commodities, 100% owned by one of the largest European gas and electricity companies, Uniper SE.The LNG Schneeweisschen features two new technologies - the slow-speed two-stroke engine (X-DF) made by Winterthur Gas & Diesel…

Photo: OSC

OSC Launches VLCC Chartering Business

Oman Shipping Company (OSC) has officially set up a new commercial chartering desk offering its Very Large Crude Carrier (VLCCs) to major traders and charterers covering VLCC routes worldwide. OSC, one of the biggest ship owners in the MENA region, has a diversified and young fleet of 50 vessels. OSC owns 16 VLCCs within the fleet out of which OSC is now commercially managing 15 VLCCs through its subsidiary Oman Charter Company (OCC). The move follows an announcement in December 2016 which saw OSC withdrawing 15 VLCCs from the VL8 pool based in Singapore.

Eiji Okazaki (Photo: LISCR)

Liberian Registry Names Tokyo Appointments

The Liberian Registry has appointed Eiji Okazaki as president of the Tokyo office operated by its US-based manager, the Liberian International Ship & Corporate Registry (LISCR). Okazaki was formerly president and CEO of Japanese ship owner and ship manager IMECS Co Ltd, a subsidiary company of the Japanese major trading house, ITOCHU Corporation. He has nearly forty years’ experience of working at an executive level in the shipowning and ship sales and purchase sectors in Japan, Korea, and Europe.

Photo: The China Navigation Co.Pte.Ltd

Naming Ceremony for CNCo Newbuilding

Following the naming of its new cement carrier, MV Aotearoa Chief, in New Zealand yesterday, The China Navigation Company (CNCo) christened its last newbuild, MV Tunsin, on 16 November at the Imabari Shipyard in Japan. Tunsin is the 241st CNCo newbuilding and the 86th vessel in this series. CNCo ordered four handysize bulk carriers (Imbari38 loggers) from Imabari Shipbuilding in 2014. Deliveries of the first three vessels, MV Taiyuan, MV Tientsin and MV Tsingtao took place between July and October this year.

Delegates at Oman Ship Management Company Mumbai 'Seafarers' Conference' (Photo: OSC)

OSC Holds Mumbai Seafarers’ Conference

Oman Ship Management Company (OSC) hosted a high-level conference in Mumbai for senior officers following a rapid rise in crew numbers. The ‘Seafarers’ Safety Conference’ was a platform for Oman Shipping Company’s subsidiary Oman Ship Management Company (OSMC) to share the best safety practices and current and future trends in the maritime industry with its sea team. It comes as the company released latest employment figures showing 1775 crew members working across 41 vessels – rising 500pc since 2010 when crew numbers remained under 400.

Jordan Cove LNG. Image: Veresen

Veresen, Itochu in Jordan Cove LNG deal

Veresen, the developer of the Jordan Cove LNG facility in Oregon, has announced a preliminary agreement on key commercial terms with Itochu, including the purchase of 1.5 million mt/year of LNG (190 MMcf/d or 70.1 Bcf of gas) for an initial term of 20 years. Veresen recently signed another commercial agreement with JERA Co. in March. "This is the second major customer agreement for the Jordan Cove LNG project and it represents further proof of the market support for this project.

MOL JV Ink Deal for 2 LNG Vessels

Mitsui O.S.K. Lines, Ltd. announced today that through a joint venture ship-owning company with Itochu Corporation charter agreements have been signed with E.ON Global Commodities SE, a wholly owned subsidiary of E.ON SE. The joint venture also signed a deal with Daewoo Shipbuilding & Marine Engineering Co., Ltd.’s shipyard in Korea to build maximum of two new 179,900m3 liquefied natural gas (LNG) carriers to be able to fulfil the contractual requirements to EGC. MOL will manage the two new vessels…

Pipe-lay Map: Image credit Statoil

Polarled Extreme Depth Pipeline Contract

The Polarled-pipeline will export gas from Statoil's Aasta Hansteen field in the Norwegian Sea to the Nyhamna gas plant. Statoil has awarded Marubeni Itochu/JFE the fabrication contract for linepipe to the Polarled project, while Wasco has been awarded the coating contract, and Allseas the pipe-laying contract. The coating contract includes the establishment of a new production base in Mo i Rana, Northern Norway. "The Norwegian Sea is an exciting area on the Norwegian continental shelf. Polarled underpins this.

MOL Charters LNG Vessels to ExxonMobil

Mitsui O.S.K. Lines, Ltd. (MOL) has been awarded two long-term charters by an ExxonMobil affiliate and its co-venture partners in its Papua New Guinea LNG Project. The charters are for MOL’s two existing 177,000 cubic meter capacity LNG carriers with the tri-fuel-diesel electric propulsion systems built in South Korea at Hyundai yards in 2010 and co-owned by Itochu Corporation (Itochu) (MOL 70% and Itochu 30%). The vessels are to be operated by MOL. Simultaneously, MOL has entered into two heads of agreement…

Northern Offshore Contract in Azerbaijan

Northern Offshore, Ltd. (Oslo Bors: NOF.OL) announced that its subsidiary, Northern Offshore U.K. Ltd, was awarded a contract with Caspian Drilling Company Limited (CDC) for the provision of support services for drilling operations in the Caspian Sea. The contract runs to July 2011 and has an estimated value of approximately $21m, comprised of fees for technical and operational support in management of the Dada Gorgud semisubmersible drilling rig. Any direct costs incurred in providing the services will be reimbursed. CDC is a subsidiary of The State Oil Company of Azerbaijan Republic (SOCAR).