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Friday, December 6, 2019

Norway News

The Godmother of MV Barracuda, Ms. Su Yin Anand, Head of Legal at South32 Marketing Singapore and Captain Dan Cracium of MV Barracuda at the Naming Ceremony. Image: KCC

KCC Names MV Barracuda

Norway-based shipowner Klaveness Combination Carriers (KCC) has named its second CLEANBU vessel, MV Barracuda, after it completed a first switch between dry cargo and a cargo of clean petroleum products (CPP).MV Barracuda was named at anchorage outside Singapore by Ms. Su Yin Anand, head of Legal at South32 Marketing Singapore, one of KCC’s largest customers.As all the other CLEANBU vessels, MV Barracuda was named after a “sea creature” to show KCC’s commitment to clean oceans…

Pic courtesy: Golden Ocean

GOGL Profits Up in Q3

The Bermuda registered, Norway based dry bulk shipping company Golden Ocean Group (GOGL) announced a net income of $36.7 million and earnings per share of $0.26 for the third quarter of 2019 compared with net loss of $33.1 million and loss per share of $0.23 for the second quarter of 2019.EBITDA stood at $81.1 million for the third quarter of 2019, compared with $21.5 million for the second quarter of 2019.Birgitte Ringstad Vartdal, Chief Executive Officer of Golden Ocean Management AS…

Pic: 2020 Bulkers

Koch Extend Charters for Two 2020 Bulkers

Norway-based shipowner 2020 Bulkers announced that the time charters of two of its vessels with the global commodity trader Koch Supply and TradingUnder the new deal, the dry bulk shipping company vessels Bulk Santiago and Bulk Seoul will continue working for Koch for another 11-13 months at an index linked rate reflecting a significant premium to the Baltic 5TC index.The time charters also include a sharing of the economic benefit from the scrubbers from January 1st, 2020, with the majority of the benefit accruing to 2020 Bulkers.As part of the agreement…

Image: AG&P

AG&P Invests in Kanfer Shipping, Eyes LNG

Global downstream gas and LNG logistics company Atlantic Gulf & Pacific (AG&P) has made a strategic equity investment in Norway-based Kanfer Shipping.Kanfer is a developer of small-scale LNG sea transportation, maritime break-bulk solutions, floating storage facilities as well as LNG bunkering. Together, Kanfer and AG&P will make LNG more accessible and commercially viable for downstream customers in new and growing natural gas markets."Kanfer has captured the attention of the global LNG maritime infrastructure industry with its patented…

© Anatoly Menzhiliy / Adobe Stock

Oil and Gas Ushers Norway Trade Rebound

Norway's trade balance bounced back to a surplus last month from a rare deficit in September as oil and gas output recovered, Statistics Norway reported on Friday.The surplus for October stood at 5.9 billion Norwegian crowns ($645.22 million), and followed a deficit of 1.4 billion crowns the previous month.September's deficit, only the third negative reading of any individual month this century, was caused by a sharp fall in natural gas exports as producers held back production amid a slump in prices.(Reporting by Terje Solsvik)

Pic: Gasum

Gasum on an Acquisition Spree

Finland-based integrated gas company Gasum takes steps forward in its growth strategy by acquiring AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG."These acquisitions will enhance the development of the Nordic gas market and create a platform for Gasum to provide a broader offering to meet the increasing demand for low-emission energy solutions from customers in industry, maritime and road transport," said a press note.The transaction will improve access to competitive natural gas and biogas…

Edwin W. Stephan, the founder, long time-president, and vice chairman of the board of Royal Caribbean Cruise Line. Photo: Royal Caribbean Cruise Line

Royal Caribbean Cruise Founder Dies

Army veteran-turned-Royal Caribbean Cruise Line founder Edwin W. Stephan passed away on Friday at 87 years old."We at Royal Caribbean mourn his loss and extend our deepest sympathies to the Stephan family," said a statement from the global cruise company said.In 1969 Stephan founded the Royal Caribbean Cruise Line, and his contributions helped create the modern cruise industry we know today. Under his leadership in 1970, the company launched Song of Norway, the first ship purpose-built for warm-water cruising.Since that initial voyage…

Graph: Rystad Energy

E&P Companies Struggle on RoI

International  exploration & production (E&P) are struggling to make money from offshore investments made during the latest investment upturn, according to a new study by Rystad Energy.Rystad Energy has evaluated all offshore oil fields sanctioned since 2010 and ranked them by estimated value per barrel of oil (boe) under various oil price scenarios. The return on investment (RoI) figures were not up to the mark.The sanctioning activity was record-high during the strong investment cycle from 2010 to 2014…

Image: Prosafe

Norway Rejects Prosafe-Floatel Merger

The Norwegian Competition Authority has rejected the proposed merger between Scandinavian offshore accommodation/construction support providers Prosafe and Floatel.Oslo-listed accommodation services player Prosafe in a press release said that it will study the decision in detail, and expects to decide on whether to appeal shortly and within the deadline within three weeks.The company owns and operates semi-submersible accommodation vessels operating at present in the North Sea…

Pic: Clean Marine AS

Clean Marine, FMSI to Merge

Scrubber manufacturers and suppliers Clean Marine and FMSI have unveiled their intention to merge in order to create a bigger market share in the exhaust gas cleaning system (EGCS) segment.The combined entity, which will operate under the name Clean Marine, will provide a fully integrated offering, including Original Equipment Manufacturer (OEM) expertise, significant capacity, fast production times, project management and global after-sales services.Further announcements will…

Photo: Nortek

Change of Management for Nortek

After over two decades at the helm of Nortek, a specialist in oceanographic instrumentation, Atle Lohrmann is taking on new challenges at newly started Hefring Engineering in Boston. Nortek’s new CEO, Finn Ivar Marum, has been entrusted with the task of ensuring Nortek’s continued growth.Nortek was established in 1996, when Atle Lohrmann set up offices outside Oslo, Norway, and started building up production capacity for Doppler instrumentation.Since then, Nortek has grown rapidly, with its revenues increasing from $985,000 in 1996 to $24.6 million in 2018.

Pic: DNV GL

Corporates Pledge for Healthy, Productive Ocean

30 companies and institutional investors have signed up to the United Nations Global Compact (UNGC) Sustainable Ocean Principles committing to take action to secure a healthy and productive ocean.UNGC is a special initiative of the UN Secretary-General, the United Nations Global Compact works with companies everywhere to align their operations and strategies with ten universal principles in the areas of human rights, labor, environment and anti-corruption.The signatories to the principles include the container ship and supply vessel operator A.P.

Yxney, Grieg Connect Team Up with NOx Fund

The data analytics duo Yxney Maritime and Grieg Connect are partnering with the Norwegian NOx Fund to develop a data-driven digital solution for automated NOx emissions reporting. Solstad Offshore and ferry operator Fjord1 will participate in the pilot phase of the project.The Norwegian NOx Fund records NOx emissions from all vessels operating in Norwegian waters and collects a fee for emissions per vessel. Calculating and reporting emissions has historically been a manual chore for shipowners…

Helle Hammer, IUMI Policy Forum Chair

Boxship Fires: Time for Action, says IUMI

This year has already seen an alarming number of container ship fires including Yantian Express, APL Vancouver, Grande America, E.R. Kobe and KMTC Hong Kong.The escalation is of growing concern to IUMI (International Union of Marine Insurance) who used a recent forum to call for an urgent improvement to onboard firefighting systems.At a conference in Arendal, Norway, organised by marine insurer and P&I Club, Gard, and attended by IMO, flag states, shipowners, salvors, class, and insurers…

Image: 2020 Bulkers

2020 Bulkers Fixes with Glencore

Norway-based shipowner 2020 Bulkers  has entered into a time charter agreement for its newcastlemax newbuilding Bulk Shanghai with a subsidiary of Glencore.The vessel will commence a 11-13 month time charter upon delivery from New Times Shipyard in early November 2019 and will earn an index linked rate, reflecting a significant premium to the Baltic 5TC index, said a press note from Bermuda-based new bulk carrier company.The time charter also includes a profit sharing of any economic benefit derived from operating the vessel´s scrubber…

Photo courtesy of Seagull Maritime

Seagull Maritime Acquires COEX

Onboard training provider Seagull Maritime acquires 50% of the shares in COEX. COEX, based in Bergen, Norway, are delivering solutions within General Document Management, HSEQ and Procedures, Project Management and Personnel Management for the Maritime and Oil & Gas Industry.“Information overflow” is a well-known problem for most companies today. The volume of unstructured information, like documents, e-mail, pictures are doubled every 12 months. The COEX solutions are ensuring that customers gain control over their data and can set up automated workflows…

Image: Hapag-Lloyd Cruises

Vard Delivers Hanseatic Inspiration

Vard, a Fincantieri subsidiary, has delivered the new Hanseatic Inspiration to Hapag-Lloyd Cruises, the second in a series of three 230-guest luxury expedition ships for the German cruise operator.With her close to 16,000 gross tons and 139 meters long, “Hanseatic inspiration” follows sister ship “Hanseatic nature”, delivered in April by Vard Langsten in Norway, while a third vessel, “Hanseatic spirit”, is scheduled for completion in 2021.Each ship is tailored to allow passengers to access remote regions…

Photo courtesy of NaviGate Expo

NaviGate2020 set for Turku, Finland

A new exhibition, Nordic Maritime Expo 2020, is set to take place in Turku, Finland, January 22-23, 2020.Billed as a presentation of the latest digital and clean tech ideas, Finland touts itself as the heart of global digitalization and green technical developments.NaviGate2020, the Nordic Maritime Expo will take place on January 22nd and 23rd 2020 in the Finnish city of Turku. It is the place to be to understand how Finnish and other leading shipping companies have begun embracing…

Oil Tankers Fire Injures 10 in S.Korea

A fire that spread across two oil tankers in a South Korean port injured 10 people on Saturday, coastguard and fire officials said, adding the blaze had largely been put out.An explosion occurred on the Stolt Groenland, a 25,000-tonne, Cayman Island-flagged oil tanker, at the southern port of Ulsan at around 10:50 a.m. (0150 GMT), a coastguard official said.There were 25 sailors aboard, including Russians and Filipinos.The fire spread to another oil tanker docked nearby, the 9…

Xeneta CEO Patrik Berglund says that the container shipping sector is in a “high-pressure” situation at present but that in such a dynamic sector, “things can change very quickly”. (Photo: Xeneta)

Container Rates Fall Due To Overcapacity

According to Norway-based ocean freight rate benchmarking and market intelligence specialist Xeneta, long-term contracted ocean freight rates for carriers continued their downward trend this month, however by only 0.1% globally. The company said the decline comes against a backdrop of increasing overcapacity, and that widespread blanked sailings and on-going concern over US-China relations were adding to industry uncertainty.Xeneta said that long-term rates have followed a pattern of decline since the middle of 2018…

Logo: WISTA

Wallenius Wilhelmsen CEO Joins WISTA

Today is the celebration of International Maritime Organization (IMO) World Maritime Day, where the 2019 theme is “Empowering Women in the Maritime Community“.This raises awareness of the importance of gender equality, in line with the United Nations’ Sustainable Development Goals, and highlights the important – yet under-utilized – contribution of women within the maritime sector.Women’s International Shipping & Trading Association (WISTA) promotes diversity in the maritime, trading and logistics sectors.

Photo: ECOsubsea

ECOsubsea Wins Contracts in North European Ports

ECOsubsea, the Norwegian cleantech firm with a unique hull cleaning technology has won contracts to clean in North European ports of Antwerp and Zeebrugge thanks to the technology’s ability to remove all hull fouling from the water.The technologically-advanced system has now been approved for use in the two North European ports following around 500 vessel cleanings in Southampton and Norway and its proven ability to meet strict environmental requirements.Environmentally sound…

Sverre Vetterstad, Lars Brustad, William Tandberg (Photo: Glander International Bunkering)

Glander International Bunkering Opens in Oslo

A marine fuel and lubricant trading firm, Glander International Bunkering has started operations in Oslo, Norway.The Oslo office is the company’s 8th location and aims to expand the reach of its main Norway office in Tønsberg.  The Oslo office is manned by bunkering experts Lars Brustad, Sverre Vetterstad and William Tandberg.

Image: Golden Ocean Group

GOGL Ups Investment in Singapore Marine

Norway based dry bulk shipping company Golden Ocean Group (GOGL) is planning to make a further investment in Singapore Marine Pte Ltd in connection with the acquisition of the majority of assets and operations of Swiss Marine by the latter.Swiss Marine is a privately owned freight operator founded in 2001 that transported over 120 million metric tons of cargo in 2018.The Bermuda registered GOGL said in a press note that including new commitments from Golden Ocean of $9.5 million in equity and $0.7 million in the form of a shareholder loan…

Dubai Harmony. Pic: Dubai Navigation Corp

Sture Terminal Situation Normalised

The fire in the engine room of the crude oil tanker Dubai Harmony moored at Equinor’s Sture terminal in Øygarden municipality on the west coast of Norway near Bergen has now been extinguished.At 1102 this morning, Equinor's alarm center received reports of a fire in the engine room on board Dubai Harmony, which was loading at the quay at the Sture terminal.The fire has now been extinguished and the fire service is continuing to cool the area where the fire took place.The 102 people who were at the Sture terminal were evacuated from the terminal when the incident occurred as a precaution…

Photo: Cummins

Turkey/Norway Diesel-Electric-Battery Ferry

With a rugged coastline and many fjords to cross, Norway has become a world leader in progressive ferry design. Turkey, with a skilled work force and broad marine experience has become a leader in ferry construction. Put the two together and you have the teamwork that results in the Basto series of RO-RO ferries.The latest in the class, Basto VII, to be launched in December of 2019, will have at its heart, four Cummins QSK50 IMO Tier III diesel-powered generator sets, two in each end and each producing 1290 kWm.