Estimate Rises for Lost Containers from MSC Zoe

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February 7, 2019

The container ship MSC Zoe lost hundreds of boxes off the German island of Borkum last month, and it appears that dozens more containers went missing than originally believed.

Initial estimates put the number of lost containers in the range of 250-290. On January 4, MSC Zoe put into port at Bremerhaven, discharged a small amount of damaged cargo and underwent an assessment to determine the extent of the loss. She departed Bremerhaven on January 16, and during her next port call in Gdansk, Poland, more containers were reported missing. The tally of lost boxes is now "at least 345," according to Dutch maritime agency Rijkswaterstaat. The agency is still awaiting a final count.

Salvage experts have suggested that the casualty was the result of heavy weather and lashing failures, but MSC has declined to comment on the cause, citing ongoing investigations. Dutch authorities have launched a criminal inquiry into whether the incident violated any national anti-pollution laws, as the containers' contents washed up on the shores of the islands of Terschelling and Vlieland.

Most of the lost containers sank, and MSC has undertaken a multi-million-dollar effort to find and recover hundreds of them from the seafloor. Two subsea construction vessels, the Geosund and the Atlantic Tonjer, have been chartered to raise the boxes and bring them to shore. Initially, the broken containers will be "taken out of the sea with a gripper," according to the Rijkswaterstaat, and the less-damaged ones will be marked for removal at a later point in the process. Several fishing boats are working alongside these ships to scoop up any cargo debris that washes loose during the operation, and six survey vessels are supporting the effort to locate the missing boxes.

Source:maritime-executive

QP, Exxon to Build $10B LNG Plant in Texas

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February 7, 2019

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Exxon Mobil and Qatar Petroleum announced a final decision to finance a $10 billion-plus project to export liquefied natural gas (LNG) from the Texas Gulf Coast.

Construction of the Golden Pass LNG export project located in Sabine Pass will begin in the first quarter of 2019 and the facility is expected to start up in 2024, said a press release.

“Golden Pass will provide an increased, reliable, long-term supply of liquefied natural gas to global gas markets, stimulate local growth and create thousands of jobs,” said Darren Woods, chairman and chief executive officer of Exxon Mobil Corporation.

“The extensive experience of ExxonMobil and Qatar Petroleum provides the expertise, resources and financial strength needed to construct and operate an integrated liquefaction and export facility in the United States,” he said.

The $10+ billion liquefaction project will have capacity to produce around 16 million tons of LNG per year. It is expected to create about 9,000 jobs over the five-year construction period and more than 200 permanent jobs during operations.

Preliminary estimates by an independent study indicate the project could generate up to $31 billion in U.S. economic gains and more than $4.6 billion in direct federal, state and local tax revenues over the life of the project.

Golden Pass is part of ExxonMobil’s plans to invest more than $50 billion over the next five years to build and expand manufacturing facilities in the U.S. This includes the Growing the Gulf initiative, which will create about 45,000 jobs in America.

Working interests in the Golden Pass LNG export project are 70 percent Qatar Petroleum and 30 percent ExxonMobil. This project builds upon the successful international relationship between ExxonMobil and Qatar Petroleum, with Qatar Petroleum joining ExxonMobil in exploration and development activities in Argentina, Brazil and Mozambique.

Centrica, Engie make Moray East power play

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February 6, 2019

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Engie and Centrica have signed 15-year power purchase agreements for electricity from the 950MW Moray East offshore wind farm off the coast of Scotland.

Centrica’s energy marketing and trading arm will trade and balance 76.7% of the output from the project when it starts commercial operations in 2022.

The contract covers all balance responsible party services and the trading of the power generated in the UK day-ahead market, Centrica said.

Centrica co-managing director for energy marketing and trading Cassim Mangerah said: “We are excited to have secured the PPA for the Moray East wind farm."

The contract represents another milestone for our route-to-market business and is a testament to the level of sophistication and capability we have built.

“The deal re-affirms our commitment to the development of renewable infrastructure projects and demonstrates further progress in this growth area of our business.”

The deal with Engie covers the remaining 23.3% of the electricity generated by Moray East.

Engie also holds a 23.3% stake in the project, with EDPR owning the remainder.

Engie UK divisional chief executive David Alcock said: “We’re pleased to have secured this PPA for Moray East which strengthens our offer of delivering renewably sourced energy to UK B2B and domestic consumers."

This agreement allows Engie to be uniquely involved in the project – contributing to both the development of the wind farm as well as the offtake of renewable energy produced.

Moray East is a key asset in the UK’s move to lower carbon energy production: the PPA further demonstrates Engie’s ability to provide integrated energy solutions whilst playing an important role in the nation’s transition to renewable generation.

Moray East project director Oscar Diaz said: “Moray East is a landmark project for the offshore wind industry, delivering sustainable, renewable generation at a highly competitive power price."

This PPA brings high-capacity, low cost, low-carbon power generation to the UK wholesale market on a long-term contract with associated stability for the entire CfD period.

Moray East will feature 100 MHI Vestas V164-9.5MW turbines.

Source:renews

Port of Savannah outlines 2024 expansion plans

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February 6, 2019

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Georgia Ports Authority will upgrade the Port of Savannah so that the east coast facility can simultaneously handle six 14,000 teu vessels by 2024.

The plan, revealed yesterday, is called the Big Berth/Big Ship program.

Savannah’s Garden City Terminal can currenty handle two 14,000 teu capacity vessels at the same time, increasing to three in the next couple of months.

“No other single container terminal in North America has the ability to expand berth capacity at this rate,” said Georgia Ports Authority executive director Griff Lynch while unveiling the new berths plan yesterday, which will also feature the purchase of 21 new gantry cranes.

Savannah has started 2019 in record-breaking fashion, notching up a 433,975 teu throughput last month, up 28% year-on-year.

Last September, the east coast port outlined plans to nearly double box volumes in the next 10 years.

Source:splash247

Hapag-Lloyd pioneers dual-fuel retrofit

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February 6, 2019

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German container line Hapag-Lloyd has announced plans to retrofit its 15,000 teu ship Sajirto operate using LNG.

The engine system will be able to function using either LNG or low-sulphur fuel oil (LSFO). Shanghai-based shipyard Huarun Dadong Dockyard will carry out the retrofit.

“By converting the Sajir, we will be the first shipping company in the world to retrofit a containership of this size to LNG propulsion”, said Richard von Berlepsch, managing director of fleet management at Hapag-Lloyd. By carrying out this unprecedented pilot, we hope to learn for the future and to pave the way for large ships to be retrofitted to use this alternative fuel.

CPPIB issues first Euro Green Bond to invest in renewables

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February 6, 2019

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Canada Pension Plan Investment Board (CPPIB) issued its first Euro-denominated Green Bond. The sale of €1 billion in 10-year fixed-rate notes will enable CPPIB to invest further in eligible assets such as renewables, water and real estate projects, as well as diversify the Fund’s investor base.

Among the Green Bond-eligible investments recently made by CPPIB is a joint venture in renewable power and offshore wind assets. In 2018, CPPIB acquired 49% of Enbridge’s interests in two German offshore wind projects, alongside a 49% interest in some of Enbridge’s North American onshore wind and solar assets.

"The European market for Green Bonds is robust and gaining even more traction amid changes such as the EU’s increased targets for how much of the region’s consumed energy comes from renewable sources. The capital raised will help finance our expanding portfolio of eligible green assets and demonstrate how we integrate environmental considerations into our investment decisions,"…said Poul Winslow, Senior Managing Director & Global Head of Capital Markets and Factor Investing.

This issuance follows CPPIB’s inaugural Green Bond in June 2018, the first such market offering from any pension fund. Investors bought $1.5 billion of the Canadian dollar-denominated 10-year bond.

CPPIB’s Green Bond Framework defines three categories as eligible for investment from Green Bond proceeds:

Renewable Energy (wind and solar);
Sustainable Water and Wastewater Management; and
Green Buildings (LEED Platinum certified).

Annual issuance of green bonds is expected to reach $250-$300 billion in 2018, and increase to $1 trillion by 2020, according to the Climate Bonds Initiative.

Source:safety4sea

DP World container volume growth slows to 1.9% in 2018

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February 6, 2019

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Terminal operator DP World saw container volume growth slip to 1.9% last year to handle 71.4m teu, with throughput at its home base in the UAE declining.

DP World the gross volume growth of 1.9% in 2018 compared to a very strong year in 2017 when throughput increased 10.1% to 70.1m teu.

The global numbers were hit by a 2.7% decline in volumes in the UAE to 15m teu last year.

Commenting on the results Sultan Ahmed Bin Sulayem, chairman and ceo of DP World said: “We are pleased to see that our global portfolio has delivered growth on top of our strong prior year performance and despite the uncertainty with global trade."

“Our Europe and Americas portfolio saw strong growth with continued ramp-up in London Gateway (UK), Yarimca (Turkey) and Prince Rupert (Canada), while performance in Africa remains robust driven by Dakar (Senegal) and Sokhna (Egypt). In the UAE, the softer volumes were due to the loss of low-margin throughput, where we remain focused on high margin cargo and maintaining profitability.”

The results contrasted to Singapore-headquartered rival PSA which reported 9.1% global container volume growth to 81m teu in 2018.

Source:seatrade-maritime

Seal of approval for Siemens Gamesa newbie

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February 6, 2019

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Siemens Gamesa has been awarded provisional type certification by DNV GL for the 8.0-167 DD wind turbine.

“This is an endorsement of the reliability, stability and low-risk of the DD platform,” the manufacturer said.

The company added that a provisional type certificate is an important milestone because it “verifies the design and provides independent proof of performance and safety in accordance with international standards and systems”.

The turbine has a 167-metre rotor, 81.5-metre blades and is expected to enter serial production this year.

“This achievement highlights our ability to ensure a short time-to-market while keeping the highest standards on quality and performance for our products,” Siemens Gamesa said.

GulfSlope updates drilling at Tau prospect in the Gulf of Mexico

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February 6, 2019

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The Tau prospect well has drilled through about 7,000 ft (2,134 m) of salt where high pressures and hydrocarbons near the base of salt were encountered and significant mud losses occurred, according to operator GulfSlope Energy Inc.

The company is currently tripping for a different drilling assembly to clean out the existing wellbore and possibly run casing prior to drilling below salt.

The Tau prospect targets multiple Miocene sand levels trapped against a well-defined, angled flank of the large salt structure. The correlative target subsalt Miocene sand levels are oil productive at the nearby subsalt Mahogany field, located about 5 mi (8 km) to the southwest.

GulfSlope estimates that a projected 16,000 ft (4,877 m) total vertical depth will test initial resource potential in excess of 100 MMboe for the Tau prospect. Larger projected resources at deeper depths will require deeper drilling.

The Tau prospect is the first of eight drill-ready exploratory prospects that the company intends to drill along the Louisiana outer continental shelf, targeting the subsalt Miocene play.

GulfSlope is the operator of the Tau well with a 20% working interest. Delek GOM Investments LLC, a subsidiary of Delek Group Ltd. owns a 75% working interest and Texas South Energy Inc. owns a 5% working interest.

Source:offshore-mag

APM Terminals to jointly develop greenfield terminal in Bangkok

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February 6, 2019

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APM Terminals has signed a memorandum of understanding with Sahathai Terminal PLC (PORT) and Mitr Phol Sugar to develop a 345,000 TEU capacity greenfield container terminal in Bangkok, Thailand. Bangkok River Terminal Limited (BRT) will accommodate Thailand’s rapidly-growing containerized import and export trade.

Sahathai Terminal PLC (PORT), Thailand’s leading container terminal and logistics company formed a Joint Venture with Mitr Phol Sugar to develop this Container Terminal in October 2018. With over 35-years’ experience in Thailand with container operations in Lat Krabang and Laem Chabang, APM Terminals’ participation will further strengthen the joint venture. Completion of the transaction is subject to receiving applicable regulatory approvals and licenses.

“In October 2018, PORT and Mitr Phol established a new company named Bangkok River Terminal Limited (BRT) to study the investment, and to apply for the BOI supporting scheme,” explains Ms. Sauwakun Karuchit, CEO of Sahathai Terminal. “BRT strongly believes that APM Terminals’ rich experience in leading and setting up world-class terminals globally will be crucial to this project’s success.”

“We are pleased to partner in the development of the Bangkok River Port Terminal and further look forward to working with Sahathai and Mitr Phol and operating the same. Once developed, we expect the terminal to play a critical role in lifting trade for Thailand. It will not only deliver higher reliability for global customers, but also enable more efficient multi-modal transportation options for Thai shippers, thereby delivering ease of doing business and growing Thailand’s economy.” said Maarten Degryse, Managing Director, APM Terminals Inland Services, Thailand.

“Mitr Phol believes that the agreement signed this month provides a significant shift for Thailand’s container shipping business, which increases by around 6-7% annually,” said Verajet Vongkusolkit, Chief of Executive Officer of Thai Sugar, Energy and New Business Group, Mitr Phol Group.