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Tuesday, July 7, 2020

Russia News

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Bunkering at UAE's Fujairah Plummets in May

Ship fuelling activity in Fujairah in the United Arab Emirates, a bunkering and fuel storage hub in the Middle East, fell in May as declining demand was made worse by slowing global trade because of the coronavirus pandemic, four trade sources said.Fujairah's ship refueling, or bunkering, volumes shrank to about 200,000-300,000 tonnes in May, down from average volumes of about 700,000-800,000 tonnes, said the sources with knowledge of the regional trade who declined to be identified."It's all things COVID…

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Bahri Puts LNG Tanker Plan on Hold

Saudi Aramco’s shipping division Bahri has put on hold plans to charter up to 12 liquefied natural gas (LNG) tankers after Sempra Energy delayed its decision on whether to proceed with an LNG export project in Texas, two sources said.Bahri issued an expression of interest (EOI) last year to charter the vessels from 2025 in Saudi Aramco’s first foray into LNG as part of the state oil giant’s plan to become a major global player in the gas market.In May last year, Aramco signed a 20-year agreement to buy LNG from Sempra Energy’s planned Port Arthur export terminal and also agreed to buy a 25% eq

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Rosneft to Build Port for Its Vostok Oil Project

Russian state oil giant Rosneft plans to build a port with maximum annual capacity of 115 million tonnes of oil for its Vostok Oil project in the Russian Arctic, the RIA news agency quoted the company as saying on Tuesday.Rosneft said in a statement previously on Tuesday that the Vostok Oil project could be supplying 25 million tonnes of oil in 2024, 50 million tonnes in 2027 and up to 115 million tonnes in 2030.Vostok Oil unites Rosneft’s projects in northern Russia, including the Lodochnoye…

Formerly the head of WinGD's slow speed diesel and gas engines business, Rolf Stiefel joins BV as Regional Chief Executive.

Rolf Stiefel Joins Bureau Veritas as Regional Chief Executive

Bureau Veritas (BV) appointed Rolf Stiefel as its new Regional Chief Executive based in Hamburg, responsible for Central Europe - Germany, Austria, Switzerland and Russia. He will be based in the BV regional office in Hamburg and his appointment is effective May 1, 2020. He succeeds Dr. Hans Gaetjens who is retiring in July following a two month hand-over period.For the past 17 years Stiefel has been leading engine sales for WinGD’s slow speed diesel and gas engines including developing the market for WinGD’s X-DF gas fueled engine…

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Russian Grain Exports to Continue Despite Quota

Russia’s online grain export quota was running out fast on Saturday as big traders rushed to get customs documents for future shipments, analysts said, adding that supplies from the world’s biggest wheat exporter would continue nevertheless.Russia set a quota for grain exports of 7 million tonnes for April through June following the outbreak of the virus. Russia's online calculator showed here that as of Saturday only 873,179 tonnes remained available for export based on the quota.Analysts…

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Oil Traders Chase Storage Space in World Awash with Fuel

Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to the coronavirus crisis.Dozens of oil tanker vessels have been booked in recent days to store at least 30 million barrels of jet fuel, gasoline and diesel at sea, acting as floating storage, as on-land tanks are full or already booked, according to traders and shipping data.That adds to about 130 million barrels of crude already in floating storage…

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US Crude Futures Plunge to Lowest on Record

U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.Brent crude, the international benchmark, also slumped, but that contract was nowhere near as weak because more storage is available worldwide.While U.S. oil prices are trading in negative territory for the first time ever, it is unclear whether that will trickle down to consumers…

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Crude Oil Held in Sea Storage Hits New Record

Traders are storing an estimated record 160 million barrels of oil on ships - double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say.Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia have agreed a record cut in output from May of 9.7 million barrels per day, or almost 10% of global supply, to help support prices and curb oversupply.At…

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Record Oil Output Cuts Fail to Make Waves in Coronavirus-hit Market

The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus shreds demand and sends stockpiles soaring, industry watchers said.After several days of discussions, oil producing and consuming countries aim to remove nearly 20 million barrels per day (bpd) or 20% of global supply from the market, Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Monday.The oil market has barely shrugged, however: Brent crude gained 1.5% on Monday, while U.S.

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OPEC+ Outlines Record Oil Production Cut; Mexico Balks

OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.But the group, known as OPEC+, said a final agreement was dependent on Mexico signing up to the pact after it balked at the production cuts it was asked to make. Discussions among top global energy ministers will resume on Friday.The planned output curbs by OPEC+ amount to 10 million barrels per day (bpd) or 10% of global supplies…

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Saudi, Russia Closing in on Record Oil Cut Deal

OPEC and it allies held talks on Thursday on record oil output curbs of about 15 million barrels per day (bpd) or more, roughly 15% of global supplies, to support prices hammered by the coronavirus crisis, sources involved in the discussions said.They said the plan included cuts of about 5 million bpd from producers outside the group known as OPEC+ and could be made gradually, as the group seeks to overcome resistance from the United States whose involvement they see as vital to a deal.Talks have been complicated by friction between OPEC leader Saudi Arabia and non-OPEC Russia…

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OPEC+ Considers Oil Cuts Above 12 Mln BPD

OPEC, Russia and other allied producers, a grouping known as OPEC+, are considering cutting their oil output by more than 12 million barrels per day (bpd) and want other producers to contribute cuts of 5 million bpd, an OPEC+ source said on Thursday.(Reporting by OPEC team; Editing by Edmund Blair)

Photo: Valmet

Valmet to Supply Automation for Expedition Cruise Pair

Valmet will supply automation and information systems for two luxury expedition vessels being built by Helsinki Shipyard Oy in Finland for Russia’s largest river cruise company Vodohod Ltd.The 113-meter-long and 20.2-meter-wide vessels will have an ice class of PC5 and a passenger capacity of 157 persons. Their draught is 5.7 meters, and cruising speed is 14 knots. The newbuilds will operate both in the Arctic and Antarctic waters as well as in the tropical waters during the spring and autumn seasons.Valmet’s delivery includes a Valmet DNA automation system…

(Photo: Crowley)

US Says No Requests Yet to Waive Jones Act to Help Oil Companies

The U.S. government said on Monday it has not yet received requests to waive a 100-year-old law on shipping goods between domestic ports, despite some interested parties who say temporarily lifting the regulation would help energy companies hurt by the oil price plunge.Kelly Cahalan, a spokesperson at the U.S Customs and Border Protection agency of the Department of Homeland Security, said no requests to waive the Merchant Marine Act, better known as the Jones Act, have been received.U.S.

Source: BIMCO, Clarksons

While Oil Prices Plummets, Tanker Rates Fly High

If one ever needed proof that, no matter how dire the situation, there is always a silver lining, look no further than the crude tanker market, which has seen it day rates skyrocket in the face of a global pandemic that has effectively ground world commerce to a crawl.As is the case with other gravity defying business phenomena, geopolitics is a central factor, in this case a battle between Russia and Saudi Arabia to flood the world with oil in the face of declining demand and…

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Oil Tanker Rates Double

Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships to transport crude or store a fast-growing global glut of oil, industry sources said.Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route were assessed at about $180,000 a day on Monday, up from some $125,000 on Friday and a weekly low of about $90,000 a day on Wednesday, according to several ship broking sources.Its difficult to say whether or not the rates will be sustained…

(File photo: Novatek)

Yamal LNG Resumes Loading Operations in Norway

Yamal LNG, controlled by Russia's largest liquefied natural gas (LNG) producer Novatek, is resuming ship-to-ship transfers in Norway, Novatek said on Monday, after plans to shift the operations to Russia fell through due to coronavirus.Novatek suspended transfers in Norway in June last year due to what it termed "pressure from the West".According to Refinitiv Eikon data, the Arc7 tanker Vladimir Vize is due to arrive at the Norwegian Arctic port of Honningsvag on April 1, carrying a cargo from Yamal LNG.The data also showed that an empty Arc4 tanker…

Riia Sillave. Photo: HHLA

HHLA Estonia Names Riia Sillave New CEO

The container and multipurpose terminal HHLA TK Estonia, the subsidiary of Hamburger Hafen und Logistik AG (HHLA), said that Riia Sillave has taken over as the  new Chief Executive Officer (CEO) with effect from 15 March 2020.The 46-year-old Estonian, who studied business administration at Ludwig Maximilians University in Munich, has a wealth of experience in executive and management roles, including in the German automotive industry.Her most recent position was as CEO of Rail Baltic Estonia…

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Booking Frenzy Sends Tanker Rates Soaring

The cost to transport oil on supertankers soared on Thursday as major producers scrambled to secure vessels to ship more crude in a bid to regain market share and buyers took advantage of plunging oil prices.Freight charges to ship oil in very large crude carriers (VLCCs) from the Middle East, which is home to the largest OPEC producers, to China, the world's top crude oil importer, nearly doubled overnight.VLCC tanker rates along the busy Middle East Gulf to China route jumped to about $160…

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Russia to Disinfect Ships from Iran, Italy and South Korea

Russia has ordered the mandatorydisinfection of ships arriving at the Black Sea ports of Novorossiisk and Yuzhnaya Ozereyevka from Iran, Italy and South Korea because of the coronavirus, a  document seen by Reuters showed.A branch of Rospotrebnadzor, Russia's consumer safety watchdog, has ordered port agents "to arrange the disinfectionof ships arriving from these countries before the border is opened" in the city of Novorossiisk, the document showed.Novorossiisk port is one of the biggest on the Black Sea.

Image: © Port Bronka

Port Bronka, NBG Sign Agency Pact

The owner and operator of Port Bronka Fenix LLC St.Petersburg and NBG Nouschirvan Beteiligungsgesellschaft mbH Hamburg have signed an agency agreement for the promotion of the most modern sea port in Russia.Port Bronka is the only deep-water port in St.Petersburg.The port handles container, project, break bulk and ro-ro cargo. The current capacity of the port is 500.000 TEU and 130.000 units of ro-ro cargo per year.The further development plan includes an increase in the container…

Pictured, right to left: Arnaud le Foll, Total’s Country Chair Russia and Director General of Total Exploration and Production Russia; Fleur-Eve Durin le Foll, his spouse and the vessel’s sponsor; Alexander Matanov, the vessel’s master; Sergey Frank, Chairman of the Board of Directors of PAO Sovcomflot; Nikolay Kolesnikov, Executive Vice President and Chief Financial Officer of PAO Sovcomflot; Peter Justesen, Vice President for LNG Shipping at Total, and Grigory Aleksandrov, Director of Projects

Sovcomflot Names LNGC SCF La Perouse

Russian state-controlled shipowner Sovcomflot (SCF) has named the 174,000m³ SCF La Perouse - the first of three LNG tankers on order with South Korean shipbuilder Hyundai Heavy Industries (HHI).The LNG carrier named after Jean-François de la Pérouse, a French explorer of the Pacific.The vessel will operate under a long-term time charter agreement with Total. The event was held at Hyundai Samho Heavy Industries’ shipyard, Republic of Korea. Fleur-Eve Durin le Foll, the spouse of Total’s Country Chair Russia…

Image: © Port Bronka

Port Bronka, NBG Sign Agency Pact

Fenix LLC St.Petersburg, owner and operator of Port Bronka, inked an agency agreement with NBG Nouschirvan Beteiligungsgesellschaft mbH Hamburg, to promote the most modern sea port in Russia.Port Bronka is the only deep-water port in St.Petersburg.The port handles container, project, break bulk and ro-ro cargo. The current capacity of the port is 500.000 TEU and 130.000 units of ro-ro cargo per year.The further development plan includes an increase in the container cargo capacity…

Graph: Rystad Energy

Australia Becomes World's Largest LNG Exporter

Australia has become the largest liquefied natural gas (LNG) exporter in the world. The record figure knocked Qatar out of the top spot."Australia is set to become the world’s largest liquefied natural gas (LNG) exporter this year, overtaking Qatar, with its supplies expected to reach 81 million tonnes (MT) as Ichthys LNG and Prelude FLNG increase production," Rystad Energy said.Meanwhile, Qatari exports will remain at current levels, around 77 MT. The US will increase LNG exports from about 36 MT in 2019 to 56 MT in 2020, dominating new LNG supply contributions.

Image: FESCO

FESCO Transports RTG Cranes Via NSR

FESCO Transportation Group, the largest intermodal transport operator in Russia,  has performed relocation of four Liebherr rubber tyred gantry (RTG) cranes from Petrolesport (part of Global Ports Group) in St. Petersburg to Vostochnaya Stevedoring Company (part of Global Ports Group) in Vrangel (Primorsky Krai)."To ensure minimum transit time, the transportation of RTG cranes was carried out along the Northern Sea Route. The sea passage took 28 days, while transit time on the route through the Suez Canal would take about 52 days…

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World Seaborne Coal Trade Rose 0.7% in 2019

Seaborne coal trade around the world grew 0.7% last year, helped by higher output in China and Indonesia and more export activity by Indonesia, Australia, Russia and Canada, Germany's VDKI coal importers lobby said on Friday.Imports and exports, counted together, rose to 1.218 billion tonnes from 1.210 billion tonnes in 2018, VDKI Managing Director Franz-Josef Wodopia said in an speech made available to Reuters, citing VDKI estimates.Within the 2019 total, trade in coking coal used for steelmaking dropped by 1% to 287 million tonnes as steel production declined, the Verein der Kohlenimporteure