Belgium-based shipowner Exmar has settled a dispute over the charter of the Tango FLNG with Argentinian energy firm YPF, that will see the FLNG charter terminated in exchange for a settlement fee.To remind, YPF in June sent a force majeure notice to Exmar, saying it was not able to pay for the charter of the Tango FLNG unit due to the effect of the coronavirus pandemic.
Some of the world's biggest commodities and energy players on Wednesday launched an initiative to cut and track emissions from the ships they charter as efforts intensify to reduce the maritime industry's carbon footprint.About 90% of world trade is transported by sea, and the UN shipping agency the International Maritime Organization (IMO) aims to reduce overall greenhouse gas emissions by 50%
The world’s largest liquefied natural gas (LNG) bunker vessel was officially named during a ceremony held Friday in Rotterdam. The 135.5-meter-long, 18,600-cubic-meter-capacity GTT Mark III Flex membrane vessel has been named Gas Agility.The first LNG bunker vessel owned by Emerald Green Maritime Limited, a wholly owned subsidiary of Mitsui O.S.K. Lines, Ltd.
Russian gas giant Novatek has informed that its Arctic LNG 2 joint venture has entered into long-term charter agreements for 14 Arc7 ice-class LNG tankers.The Arctic LNG 2 partners have signed the charter agreements will SMART LNG, a joint venture established in September 2019 between NOVATEK and PAO Sovcomflot.
U.S. Coast Guard air and surface rescue crews at Sector San Juan responded and assisted the distressed M/V Island Express Wednesday afternoon, after the ship started taking on water when it departed the Port of San Juan for storm avoidance in anticipation of Tropical Cyclone 9.The M/V Island Express, a Cyprus flagged 412-foot ro-ro cargo ship
Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA, GasLog said in its latest quarterly report.
Eighteen Carnival Cruise Line ships rendezvoused in The Bahamas over the past several days in line with plans to sail nine of the ships to repatriate more than 10,000 healthy crew members who have remained on board after the cruise line suspended operations due to the coronavirus pandemic.The ships have been at various U.S.
A U.S. Navy guided-missile destroyer with a coronavirus outbreak on board docked in San Diego Tuesday after cutting its mission short to administer medical care to affected sailors and disinfect the ship.USS Kidd (DDG 100) was at sea participating in counter-narcotics operations when several sailors on board began exhibiting influenza-like symptoms. Two sailors were medevaced to the U.S.
Danish offshore wind farm developer Ørsted has signed a 15-year contract with Ta San Shang Marine, chartering the shipping company to build the world's first-ever Taiwan-flagged service operation vessel (SOV) for the operation and maintenance (O&M) of Ørsted's Greater Changhua offshore wind farms.Ta San Shang Marine is a joint venture of Taiwan's Ta Tong Marine Group (TTM) and Japan's Mitsui O.S.
Oil traders are storing as much as 80 million barrels of oil on tankers at sea, with further ships being sought as land storage sites fill up fast due to a global glut of stocks, shipping industry sources say.Traders rushed for storage after global oil demand collapsed by a third due to the coronavirus outbreak, and as top producers Saudi Arabia and Russia have refused to curb output so far
Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments.That could leave the kingdom stuck with tens of millions of barrels in expensive ships at anchor when the coronavirus outbreak has destroyed oil demand and international prices have lost more than half
Trading house Glencore has chartered the 3 million barrel crude carrier Europe to store oil at sea for at least 6 months, trading sources on Tuesday.The vessel is one of two so-called ultra large crude carriers (ULCC), the largest tankers in the world.Glencore booked the vessel at a rate of $37,000 a day for the first six months, according to the sources.A Glencore spokesman declined to comment.