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Wednesday, August 21, 2019

Products News

World’s first LNG-powered crude oil tanker (courtesy of SCF Group)

Shell Charters LNG-Powered Tanker Fleet

Shell Tankers (Singapore) Private Ltd has agreed a long-term deal to charter a fleet of 10 LNG dual-fuel Aframax crude oil tankers from Sinokor Petrochemical Co Ltd, which expects to take delivery of them from Samsung Heavy Industries in South Korea in 2021."Shell has agreed to charter a fleet of new liquefied natural gas (LNG)-fueled crude oil and products tankers, as part of its drive to decarbonise shipping," said a press note.Separately, Shell has agreed long-term charters for four new LNG dual-fuel oil products tankers, from institutional investors advised by J.P.

Seabulk Completes First Methanol Shipment

Seabulk Tankers, a subsidiary of SEACOR Holdings, has announced the successful delivery of its first methanol parcel chemical shipment aboard the articulated tug-barge (“ATB”) Sea-Power/Sea-Chem I.The Sea-Power/Sea-Chem I loaded a 10,500 metric ton methanol parcel in the U.S. Gulf of Mexico and discharged the parcel in Charleston, South Carolina and Chesapeake, Virginia. The vessel can load up to 30,000 metric tons of cargo into eleven segregations and is equipped with stainless steel cargo piping and MarineLINE 784 cargo tank coating.

Pic: Diamond S Shipping

Diamond S Shipping Sells Two Vessels

Connecticut-headquartered Diamond S Shipping Group Inc. (DSG) announced that it has agreed to sell two of its 2008-built medium-range product carriers as part of its fleet renewal initiatives.The vessels - the Atlantic Aquarius and Atlantic Leo - are expected to be delivered in the third quarter or early the following quarter, said the owners and operators of crude and product tankers, which provide seaborne transportation of crude oil, refined petroleum and other products in international shipping markets.Diamond will recognize a non-cash charge of about $9.5 million per vessel this quarter…

Pic: Port of Montreal

Contrecoeur Port Expansion Deal Signed

The Canada Infrastructure Bank (CIB) announced that it will work with the Montreal Port Authority (MPA) to advance the project development of a new container terminal in Contrecoeur, where the port plans to expand its activities.The work could lead to an investment in the South Shore project, potentially via a form of equity or debt financing, said Pierre Lavallée, the bank’s chief executive officer.The Memorandum of Understanding confirms that CIB and MPA will work on the financial structuring of the proposed terminal.

Image: Kinder Morgan

Kinder Morgan Invest $170Mln in Houston Ship Channel

Houston pipeline operator Kinder Morgan (KMI) plans to invest $170 million in various expansion projects along the Houston Ship Channel.The investment will increase efficiency, add product liquidity, and enhance blending capabilities at its Pasadena and Galena Park terminals, part of its best-in-class refined products storage hub on the Houston Ship Channel, said the energy infrastructure company in North America.In response to growing customer demand, KMI’s liquids terminal platform now boasts 10 ship docks…

Pic courtesy: Port of Vancouver

Port of Vancouver Sets Records

The Vancouver Fraser Port Authority, the largest port in Canada and the largest in the Pacific Northwest, has recorded new mid-year record for container volumes.Between January 1 and June 30, 2019, overall cargo through the port increased 0.5% to a record 72.5 million metric tonnes (MMT) over the same time last year, with new mid-year records in containers, potash, grain and cruise passengers.“This year’s record mid-year cargo volumes reflect what continues to be two of the Port…

Ronald Baczkowski is the President and Chief Executive Officer of VT Halter Marine, Inc.

Shipbuilding Interview: Ron Baczkowski, VT Halter

VT Halter in Pascagoula, MS has been on a strong run, capped by its winning the high-profile contract to build the U.S. Coast Guard’s next generation of icebreakers. Maritime Reporter recently spoke with Ron Baczkowski, President and CEO, VT Halter Marine, for insights on the shipyard’s recent success and future prospects. Globally, the shipbuilding industry has gone through some ‘interesting’ times of late. How has it looked from your perspective?The shipbuilding market and activity at VT Halter during the past 12 months has been dynamic.

Image: Saudi Aramco

Saudi Aramco, World’s Most Profitable Co, Again

Saudi Aramco announced that its net income was $46.9 billion for the first half 2019, compared to $53.0 billion for the same period last year. That easily outstripped corporate titans such as Apple Inc, Amazon.com Inc and other big oil producers, many of which suffered larger declines in profit as output and crude prices fell. Saudi Aramco President & CEO Amin H. Nasser, said: “Despite lower oil prices during the first half of 2019, we continued to deliver solid earnings and strong free cash flow underpinned by our consistent operational performance…

ICE, Magellan to Offer Dock Capacity to Houston Oil Futures Customers

Intercontinental Exchange Inc and Magellan Midstream Partners LP said on Wednesday they would auction dock capacity at Magellan's terminals in Galena Park and Seabrook, Texas, for holders of ICE's Permian West Texas Intermediate (WTI) crude futures contracts.The monthly auction process will allow customers who purchase an ICE Permian WTI crude futures contract, deliverable at Magellan's East Houston terminal (MEH), the option to load crude directly onto a vessel at Galena Park and Seabrook dock facilities for export…

Photo courtesy of TecPier

TecPier, Newark Venture Partners in SensorTransport JV

TecPier and Newark Venture Partners invested in the US startup SensorTransport with a mid-range six-figure investment. SensorTransport connects global shippers with local carriers to collect digital tracking, proof of delivery and condition monitoring of cargo in transit. Digitized delivery is offered at a disruptive price of less than one euro per shipment.The SensorTransport smartphone application includes an Internet of Things (IoT) gateway for Bluetooth sensors. A low cost Bluetooth enabled sensor logs data from the cargo journey and is automatically read in the delivery moment.

AdobeStock / © rawf8

China in Talks with U.S. Trade Officials

Senior Chinese and U.S. trade officials spoke by telephone on Tuesday as the Chinese side lodged solemn representation on additional tariffs on Chinese goods scheduled to start next month, China's Ministry of Commerce said in a statement.The statement was issued at around the same time that U.S. Trade Representative Robert Lighthizer's office said the United States will delay imposing a 10% tariff on certain of the products, including laptops and cell phones.The Chinese statement made no mention of this planned delay.Chinese Vice Premier Liu He spoke with Lighthizer and U.S.

File Image: AdobeStock / © Riccardo Arata

Trafigura in Fuel JV with Frontline, Golden Ocean

Trafigura Group is joining forces with shipping firms Frontline and Golden Ocean to set up a company to supply shipping fuels ahead of a shake up in regulations next year which could disrupt fuel delivery and cause prices to spike.The three companies said on Tuesday that subject to agreement on final terms, the joint venture is expected to start operating in the third quarter.From Jan. 1, International Maritime Organization (IMO) rules will bar many ships from using marine fuel, also called bunker fuel, containing more than 0.5% sulphur in order to help reduce air pollution.

Youth Summer Boat Building (Photo: CCRI)

Youth Summer Boatbuilding Program at CCRI

The same students who could barely use a tape measure or screwdriver when they enrolled in the Community College of Rhode Island’s Youth Summer Boatbuilding Program successfully launched their finished products into Ninigret Park’s saltwater pond, wrapping up a fun, but informative, five-week workshop learning skills often overlooked on today’s education landscape.At a time in which career and technical education (CTE) training – otherwise referred to as vocational training – is enjoying a renaissance in high schools and colleges…

Image: Port of Rotterdam Authority

Rotterdam Port Lunches PortXchange

Port of Rotterdam Authority has launched new company PortXchange Products BV  to make digital shipping app Pronto available to ports worldwide.PortXchange is set up to offer the Pronto platform and application to ports around the world over the next few years. The establishment of a separate company will enable partnerships with a variety of global players.Together with strategic partners Shell International Trading and Shipping Company Limited and A.P. Moller - Maersk, PortXchange…

Frank Relou  (Photo: Sea Machines Robotics)

Sea Machines Expands European Sales Force

Sea Machines Robotics, a technology company serving the marine industry, has hired industry veteran Frank Relou to lead its European sales efforts. In his new role as European business development manager, Relou will lead the transformation of Europe’s hard-working commercial fleets with technology that empowers operators with enhanced on-water productivity and job predictability.Sea Machines offers proven commercial-grade, wireless, remote vessel-control systems and autonomous navigation technology.

Image: Ports & Maritime Organization

Khorramshahr Port Throughput Rises

Iran's Khorramshahr Port registered a growth of 59% in general cargo loading operation during the last four months."More than 738,483 tons of non-oil goods were loaded in the port of Khorramshahr, which shows an increase of 59% compared to the same period last year," said Nourollah Asadi, Managing Director of Khorramshahr Port and Maritime.Referring to the major export commodities from Khorramshahr Port, he said that Metals, Building Materials, Minerals, Animal Products, Household Appliances…

Adobestock / © rawf8

Trade Fears Drag Stocks, Yuan at 10-Year Low

NEW YORK, Aug 5 (Reuters) - Stock markets around the world fell hard on Monday on fears that China's willingness to let the yuan slide in response to the latest U.S. tariff threat could further aggravate trade-related tensions between the world's two largest economies.China on Monday let the yuan tumble beyond the 7-per-dollar level for the first time in more than a decade, in a sign Beijing might be willing to tolerate further currency weakness after U.S. President Donald Trump vowed last week to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept.

File Image (CREDIT: U.S. Maritime Administration)

U.S. to hit $300B of Chinese goods with 10% tariff

U.S. President Donald Trump said on Thursday he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, as talks aimed to ease tensions between the world's two largest economies continue."Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%," Trump tweeted.Reporting by Makini Brice and Susan Heavey

KVH Joins SMN for Tech Initiative

Maritime innovator KVH has announced it has joined the Smart Maritime Network (SMN) as one of the founding members of the initiative dedicated to supporting collaboration and standardization in the development of IT systems for the shipping sector. As a founding member, KVH will participate in Smart Maritime Council meetings with a select group of maritime technology developers, systems integrators, and vessel operators to discuss issues relating to the compatibility, standardization…

AdobeStock / © rawf8

Beijing: U.S.-China Trade Talks 'constructive'

U.S. and Chinese negotiators wrapped up a brief round of trade talks on Wednesday that Beijing described as "constructive", including discussion of further purchases of American farm goods and an agreement to reconvene in September.The first face-to-face trade talks since a ceasefire was agreed last month amounted to a working dinner on Tuesday at Shanghai's historic Fairmont Peace Hotel and a half-day meeting on Wednesday, before U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin flew out."Both sides…

(Left to Right): Mark Fraser – CEO, Mark Cowieson – Services Director, Oteac Ltd and Gareth Forbes - CFO (Photo: Nucore Group)

Two Directors Appointed at Nucore Group

Nucore Group, based in Aberdeen, has announced the appointment of two new directors to the business, CFO for Nucore Group and Services Director for Oteac Ltd with immediate effect.Operating internationally Nucore Group brings together the knowledge, expertise and best practice to deliver innovative engineering for protecting people and assets. The group supports the oil and gas, marine, renewable energy and petrochemical industries, as well as large private and public sector clients…

Grace 1 remains impounded, not because of its flag but because it was suspected of taking oil to Syria in breach of EU sanctions, an allegation that Iran denies. Image Credit: © MarineTraffic.com

INSIGHTS: Noose Tightens Around Iranian Shipping

Somewhere on its journey from the waters off Iran, around Africa's southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later claimed it as its own.The ship carrying 2 million barrels of Iranian crude was seized by British Royal Marines off Gibraltar, raising tensions in the Gulf where Iran detained a UK-flagged ship in retaliation.Grace 1 remains impounded, not because of its flag but because it was suspected of taking oil to Syria in breach of EU sanctions…

Image Credit: AdobeStock/ © 14KTGold

Singapore's Ocean Tankers tests IMO-2020 Compliant Fuel

Off the coast of Singapore, the world's largest ship refuelling centre, a bunker barge sidled next to the supertanker Pu Tuo San to fill the giant vessel with a new type of fuel that will meet global standards that start up in January.With a little over five months left until stricter marine fuel rules come into effect, shippers such as Singapore's Ocean Tankers that own the very large crude carrier (VLCC) Pu Tuo San have started testing out lower sulphur fuel to prepare their…

Image: Port of Oakland

Port of Oakland Exports Up with Asian Help

The San Francisco Bay container ship facility Port of Oakland said that  its containerized export volume  increased in the first half of 2019 thanks to China’s neighbors.Port data released today showed double-digit export volume percentage increases through June 30 to South Korea, Japan and Taiwan. Trade with those three nations alone offset a 17 percent drop in exports to China, the Port said.Exports to China have dropped by the equivalent of 14,000 20-foot cargo containers this year, the Port said. China is Oakland’s largest trading partner.

Photo: MTC Logistics

MTC Logistics Breaks Ground at Port of Mobile

MTC Logistics (MTC), along with officials from the Alabama State Port Authority, Alabama Department of Commerce and elected officials, broke ground on MTC’s 12 million cubic feet international temperature-controlled distribution center. MTC is investing approximately $61 million at the Port of Mobile generating 50 to 70 direct jobs at the new facility.When completed in the fourth quarter of 2020, the new facility will provide shippers with seamless supply chain solutions focused on global commerce.

File image / AdobeStock / © dbvirago

Marseille Fos Accelerates Air Emissions Cuts

Among a string of new eco-friendly initiatives, the Marseille Fos port authority is to spend $22 million over the next six years to extend shoreside electrical connections for berthed vessels to every ferry, cruiseship and repair quay within the Marseille eastern harbor.Already available on the Corsica ferry quays, the network will be expanded in two phases to cover North Africa ferry quays and the shiprepair hub by 2022 and the cruise terminal between 2022 and 2025. The zero…