Marine Shipping

Hudong to deliver third Yamal LNG carrier

Hudong to deliver third Yamal LNG carrier

Offshore Energy


Oil & Gas Publishers Note: There are some hidden takeaways in this article. The Chinese shipbuilding yard has 17 Large LNG carriers on order under a leasing business model. A brilliant business model to keep control of large

Samsung Heavy Industries and Bloom Energy Advance Plans for Clean Power Ships with Joint Development Agreement

Samsung Heavy Industries and Bloom Energy Advance Plans for Clean Power Ships with Joint Development Agreement

Bloom Energy (NYSE: BE) and Samsung Heavy Industries (SHI), a part of Samsung Group, have signed a joint development agreement (JDA) to design and develop fuel cell-powered ships.

June 29, 2020 - 8:00 pm International, LNG, Marine Shipping, Press Releases
Source: © Getty Representational image

Tankers Carrying Venezuelan Oil Stuck at Sea

MarineLink


Oil & Gas Publishers Note: We have been covering this story on China and other countries trying to go around the U.S. sanctions on Venezuela. It is interesting that the refineries are watching where the shipments are originating. 16

New TMS Cardiff Gas LNG carrier delivered to Total

New TMS Cardiff Gas LNG carrier delivered to Total

Offshore Energy


Greece-based shipping company TMS Cardiff Gas has taken delivery of another LNG tanker built by South Korea’s shipbuilder Hyundai Heavy Industries.

The newest addition to the shipping company’s fleet is the 174,000-cbm Qogir. TMS Cardiff Gas took delivery …

June 23, 2020 - 8:30 am International, LNG, Marine Shipping
Source: Reuters

Special Report: How China got shipments of Venezuelan oil despite U.S. sanctions

Reuters


Last year, China replaced the United States as the No. 1 importer of oil from Venezuela, yet another front in the heated rivalry between Washington and Beijing.

The United States had imposed sanctions on Venezuela’s state-owned oil company as …

Eagle Blane (Image: Inger Johanne Stenberg/Equinor)

Equinor testing new LNG-powered shuttle tankers

Offshore Energy


Norwegian energy giant Equinor is testing two newbuild liquefied natural gas-powered shuttle tankers it chartered for operations in the North Sea.

The first tanker Eagle Blane is owned by Malaysian shipowner AET, while the second vessel Rainbow Spirit …

June 10, 2020 - 8:00 am International, LNG, Marine Shipping, Technology, Transportation
Source: Reuters

Exclusive: Oil tankers turn away from Venezuela as more sanctions loom

Reuters


Two tankers that were sailing toward Venezuela to load crude have turned around since the weekend and three other vessels have left Venezuelan waters as the United States considers blacklisting dozens of ships for transporting the country’s oil, according …

Source: Houston Chronicle

US Weighs Blacklisting More Oil Tankers Over Venezuela

MarineLink


Oil & Gas 360 Publishers Note: We addressed this on Friday’s closing bell. We had indicated to our audience that there was much more to this story. 

The United States is considering imposing sanctions on dozens of additional foreign …

Chevron oil cargo tangled in U.S. sanctions on Venezuela

Chevron oil cargo tangled in U.S. sanctions on Venezuela

Reuters


HOUSTON – A Chevron Corp crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed on Friday.

Adamant Maritime Ltd, the owner of very large crude-oil …

SEACOR Marine Announces Agreement to Consolidate SEACOSCO Joint Venture

SEACOR Marine Announces Agreement to Consolidate SEACOSCO Joint Venture

HOUSTON, June 04, 2020 (GLOBE NEWSWIRE) — SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore oil and natural gas and wind farm facilities worldwide, today announced …

Source: Houston Chronicle

Venezuela to seek more gasoline from Iran

Argus


Caracas, 2 June (Argus) — Venezuela is seeking to consolidate bilateral ties with fellow US-sanctioned Iran with an eye toward importing more desperately needed gasoline and additives.

In an address yesterday, Venezuela’s president Nicolas Maduro said he will visit …

Qatar Petroleum signs record-breaking LNG shipbuilding agreements

Qatar Petroleum signs record-breaking LNG shipbuilding agreements

LNG Industry


Qatar Petroleum has entered into three agreements to reserve LNG ship construction capacity in the Republic of Korea to be utilised for Qatar Petroleum’s future LNG carrier fleet requirements, including those for the ongoing expansion projects in the

June 2, 2020 - 6:46 am International, LNG, Marine Shipping
Flex LNG Q1, 2020 Earnings Release

Flex LNG Q1, 2020 Earnings Release

Flex LNG Ltd. (“Flex LNG” or the “Company”) today announced its unaudited financial results for the first quarter and three months ended March 31, 2020

Source: Reuters

Pandemic forces virtual safety checks for oil tankers

Reuters


LONDON – Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships …

China paying a premium for select crudes illustrates demand’s return

China paying a premium for select crudes illustrates demand’s return

WorldOil


-For a sneak peek at the return of Chinese oil demand, look no further than the rebound in price of the nation’s favorite grades.

In the last few days a Chinese state-owned refiner bought Brazil’s Lula crude for August …

New Renown, Crude Oil Tanker (VLCC) from Middle East, Docked at 300,000-ton Crude Oil Terminal of Sinopec Zhongke Refinery Port.

Sinopec Puts China’s Largest Petrochemical Port into Operation

ZHANJIANG, ChinaMay 9, 2020 /PRNewswire/ — Sinopec Corp (HKG: 0386), China’s leading energy and chemical company, has put China’s largest petrochemical port into operation with the successful docking and unloading of the New Renown, Crude Oil Tanker (VLCC) …

May 9, 2020 - 1:29 am China, International, Marine Shipping, OPEC, Press Releases
Source: Reuters

Saudi crude buyers cancel at least seven supertankers after freight hike: sources

Reuters


LONDON – U.S. buyers of Saudi Arabian crude oil cancelled at least seven April-loading tankers after a jump in freight costs, two industry sources said, likely to result in lower-than-expected shipments from the world’s top exporter.

The move shows …

QP signs deal to reserve LNG shipyard capacity in China

QP signs deal to reserve LNG shipyard capacity in China

LNG Industry


Qatar Petroleum (QP) has entered into an agreement to reserve LNG ship construction capacity in China to be utilised for its future LNG carrier fleet requirements, including those of its ongoing North Field expansion projects.

The agreement was …

April 22, 2020 - 5:16 pm International, LNG, Marine Shipping
Source: Reuters

Crude oil held in sea storage hits new record at 160 million bbls: sources

Reuters


LONDON – 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 …

Oil glut closes Middle East’s largest crude terminal

Oil glut closes Middle East’s largest crude terminal

World Oil


DUBAI (Bloomberg) – With the coronavirus choking fuel demand and the world awash in surplus crude, even the Middle East’s main oil-trading hub has run out of room to store unwanted barrels.

Terminal operators at Fujairah in the …

Silver lining for Asian LNG market after oil price crash

Silver lining for Asian LNG market after oil price crash

Energy Voice


Lower long-term LNG prices could encourage coal-to-gas switching in Northeast Asia, while Chinese LNG demand is also expected to expand this year, albeit at a slower rate, as China gets back to work. 

Asia Pacific gas demand was …

April 11, 2020 - 1:21 pm Energy News, International, LNG, Marine Shipping
Source: Houston Chronicle

The oil glut is filling up the world’s supertankers fast

Houston Chronicle


The world’s oil tankers are being filled with crude at a record pace as the options to store a glut on land rapidly diminish, one of the industry’s largest owners said.

A combination of surging production from key …

Exclusive 360 Energy Expert Network Video Interview: The Port of Corpus Christi seen trouble before, and is open for business.

Exclusive 360 Energy Expert Network Video Interview: The Port of Corpus Christi seen trouble before, and is open for business.

The Port of Corpus Christi in the western Gulf of Mexico is one of key components in the life blood for imports and exports in the United States. They the 2nd in tonnage,  and the largest port in revenue in

Port of Corpus Christi continues to maintain uninterrupted business operations

Port of Corpus Christi continues to maintain uninterrupted business operations

Port of Corpus Christi


Corpus Christi, TX, USA – The Port of Corpus Christi continues to maintain uninterrupted business operations as it works in close cooperation with federal, state and local governments as well as industry in the implementation of …

Source: Houston Chronicle

Shale drillers float Jones Act waiver as balm for price pain

Houston Chronicle


U.S. oil companies battered by the crude price war between Saudi Arabia and Russia are encouraging the Trump administration to waive a law that mandates only American vessels can be used to transport goods among U.S. ports.

A …

Source: Reuters

Booking frenzy sends tanker rates soaring as OPEC opens oil taps

Reuters


SINGAPORE  – 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 …

March 12, 2020 - 3:00 pm Crude Oil News, Energy News, Marine Shipping
Source: Reuters

Shell eyes tankers for oil floating storage after price collapse

Reuters


LONDON – Royal Dutch Shell is in talks to charter at least three supertankers to store crude oil at sea as traders brace for a sharp rise in global stocks after OPEC and its allies abandoned a production cut …

Source: Houston Chronicle

U.S. firm invests $100 million into VLCC-ready oil export terminal

Houston Chronicle


Connecticut private firm Prostar Capital plans to invest $100 million into a recently acquired terminal in the Caribbean that will be able to receive some of the largest oil tankers in the world.

Prostar bought the facility on …

Port Arthur LNG and Bechtel sign EPC agreement

Port Arthur LNG and Bechtel sign EPC agreement

LNG Industry


Sempra Energy and Bechtel have announced that their respective subsidiaries, Port Arthur LNG, LLC and Bechtel Oil, Gas, and Chemicals, Inc., have signed a fixed-price engineering, procurement and construction (EPC) contract for the Port Arthur LNG liquefaction project
Source: Reuters

Trafigura forms venture with Phillips 66 for deepwater Texas oil port

Reuters


LONDON – Global commodities trader Trafigura said on Friday it had formed a joint venture with U.S. refiner Phillips 66 (PSX.N) to build a major deepwater port in Texas capable of handling supertankers, ditching its own competing …

February 28, 2020 - 2:30 pm Closing Bell Story‎, Energy News, Marine Shipping