Russia, China eye Arctic gas route cooperation

Russia and China look likely to team up on the development of an Arctic shipping route. The South China Morning Post cited Russia’s ambassador to Beijing, Andrey Denisov, as saying that talks were advanced over the supply of Russian gas to China through a route known as Power of Siberia Two (the “western” route). “Almost everything has been completed so far but there is only one gap, which is the…

April 19, 2019
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Nigerian owners hoping to tap into $3.5bn fund

The Ship Owners Association of Nigeria (SOAN) is hoping to access $3.5bn earmarked for fleet expansion. The money is coming from an oil and gas development fund administered by the National Content Development and Management Board (NCDB). SOAN president McGeorge Onyung told the Vanguard daily that NCDB had indicated $3.5bn is available for vessels connected to the energy sector. Nigeria is considering barring overseas vessels from coastal trade, meaning a…

April 19, 2019
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Brightoil boss quits after being declared bankrupt

Brightoil Petroleum CEO and chairman Sit Kwong Lam has quit the company after being declared bankrupt in Hong Kong. The troubled VLCC owner’s boss had provided a personal guarantee of more than $30m for goods Brightoil bought from Vietnam-owned trader Petrolimex Singapore last April. Petrolimex had applied for the bankruptcy order when the debt was not settled. It is also trying to wind up a Brightoil subsidiary in Singapore. Hong…

April 19, 2019
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Simon Toft’s start-up Cornerstone seeks more tankers

Danish start-up Cornerstone Maritime is seeking more tonnage after agreeing a deal to take over its first managed tanker. The company has been founded by Simon Toft, its managing director and a former Maersk Brokers and Wonsild man. Toft has owned and run broker Casos Shipping for the last five years. It said on Friday it will manage the 15,900-dwt Ierax (built 1998) commercially from 10 May. Cornerstone will handle…

April 19, 2019
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Three injured in fire on Sinotrans bulker

Three seafarers have suffered “significant burns” on a Sinotrans bulker off the UK. The men were rescued from the 93,000-dwt Great Aspirations (built 2010) near Lizard Point, Cornwall, on Wednesday. A search and rescue helicopter winched the Chinese men off the bulker. Two were taken to a specialist burns unit in Wales, while the other remained in a Cornish hospital. The Maritime and Coastguard Agency said: “The three injured crew…

April 19, 2019
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Hyundai LNG moves into VLGC sector with new order

Korea’s Hyundai LNG Shipping (HLS) is expanding into the LPG sector with a new VLGC order at Hyundai Heavy Industries (HHI). The company said the 84,600-cbm ship will be delivered in the third quarter of 2020. It has a seven-year charter, plus options, lined up with a global energy company, it said. The newbuilding contract has an optional ship attached. HLS has a fleet of nine operational LNG carriers, built…

April 19, 2019
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Seaboard Marine announces new Central America routes

Starting 8 May, Seaboard Marine will begin running ships between Central American and the Port of Savannah. The Miami boxship operator announced the new service this week, which will run both dry and refrigerated cargo. “We are excited about the opportunity to connect our brand of premium service forged over our 35-year history in Central America to this new domestic port,” said Jose Concepcion, Seaboard’s vice president of central america….

April 18, 2019
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Navios Maritime Holdings sells veteran bulk carrier

Angeliki Frangou’s Navios Maritime Holdings is said to have sold off one of its older bulk carriers. If confirmed the deal would mark the latest step in its fleet renewal efforts, which have seen other older vessels sold of late. Brokers say the 53,500-dwt Navios Mercator (built 2002) has been bought by an unknown party for between $7m and $7.2m. Navios officials could not be reached for comment on the…

April 18, 2019
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SEA\LNG and SGMF LNG emissions study raises questions

Industry coalition SEA\LNG and the Society for Gas as a Marine Fuel (SGMF) faced questions about the relevance of their newly commissioned “well-to-wake” study launched last week, which details that using LNG as a marine fuel can cut shipping’s greenhouse-gas emissions by up to 21%. The 168-page report, entitled The Life Cycle GHG Emission Study, was conducted by independent consultancy firm thinkstep and looked at the entire chain from gas…

April 18, 2019
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Pertamina weighs up options to upscale West Java FSRU

Indonesian oil-and-gas giant Pertamina is looking at whether to replace an existing LNG carrier-to-floating storage and regasification unit conversion with a purpose-built newbuilding at the end of a charter contract and as import needs grow. Shipbuilding sources said Pertamina and its partners in the FSRU Nusantara Regas Satu, which is currently stationed off West Java, have been making enquiries about a newbuilding that could potentially replace the existing unit. But…

April 18, 2019
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