New marine fuel rules to boost diesel prices for at least a year -analystsGlobal prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said.Marine fuels containing no more than 0.5% sulfur by weight, down from the 3.
Any analysis of markets for offshore service vessels (OSV) usually begins with analogies to rough weather, best of times/worst of times or similar. OSV expert Seabrokers, with a home base in Stavanger, Norway, in the February edition of its Seabreeze market report follows this convention with a description of the “feast or famine” conditions in the North Sea.
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.
Newport Shipping Group has purchased 100 scrubbers from Chinese manufacturer Weihai Puyi Marine Environmental Technology Co, with options for an additional 100 units.Newport, which operates a network of 13 drydocks globally, said the bulk purchase aims to safeguard shipowners against any price hikes or production bottlenecks as demand for scrubbers is expected to increase ahead of the
The Massachusetts Department of Public Utilities (DPU) has approved long-term contracts for 800MW of offshore wind between Vineyard Wind and the Commonwealth’s electric distribution companies.The DPU green signal is a crucial approval needed for the offshore wind farm developer to start construction by the end of the year.
Oceanco’s newest project, the 105-meter (345 ft) diesel-electric driven Esquel has been conceived and designed to explore new territories.Oceanco created Esquel in collaboration with Timur Bozca Design, stylist Gina Brennan, Lateral Naval Architects and Engineering and Pelorus—an experiential and yacht expedition travel company.
The Panama Canal Board of Directors announced the appointment of Ricaurte Vasquez as the next Panama Canal Administrator.According to a press note from the artificial 82 km waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean, Vasquez will take office on September 4, 2019, succeeding current Administrator Jorge L.
Philippine's Udenna Corporation has broken off negotiations over a potential investment of $73 million in struggling Singapore-based offshore vessel company Emas Offshore.The ailing Singaporean contractor Emas Offshore announced in a regulatory filing that Udenna had informed the company that it would no longer be injecting $73.29 million into the offshore services provider.
The Port of Everett has achieved another vital step in reducing congestion on the I-5 corridor while moving more freight in the region. The Port was notified this month that it received designation by the U.S. Secretary of Transportation as a Federal Maritime Administration Marine Highway Project for the Puget Sound Container on Barge Service under the America’s Marine Highway Program.
C-Job Naval Architects has implemented a new method to optimize ship designs. The holistic optimization method allows for quick design iterations, exciting innovations and saves the naval architect a significant amount of time.C-Job Naval Architects is the largest independent ship design and engineering company in the Netherlands.
As shipowners mull the technical and logistics solutions to meet the IMO's 2020 deadline regarding sulfur emissions, Goltens COO Roy Strand said “When emissions regulations are applied globally, the investment in exhaust cleaning will make more sense to many operators. There will be more customers who choose to invest in scrubber technologies due to the clear payback.
Flooding is expected to worsen in the coming days as the Coast Guard continues its relief efforts.The emergency is by no means over in North Carolina. As flooding is expected worsen across the Carolinas later this week in the choppy wake of Hurricane Florence, Coast Guard units across North Carolina are continuing to assess damage, and respond over a wide geographic area.