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GPA Makes Plans to Double Brunswick’s Ro/Ro Capacity

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The Georgia Ports Authority handled 630,000 vehicles at its ro/ro terminals in 2018, and it has ambitions to move many more units in the years to come. 

At an address in Brunswick, Georgia, GPA executive director Griff Lynch outlined the authority's plans to expand its vehicle volumes. Over the next year, GPA intends to add 60 acres of new parking at its Brunswick terminal, increasing car storage by 8,250 spaces. GPA also plans to add a new cross-terminal road linking its three vessel berths, as well as a new access road between the docks and the island’s south side.

The dockside expansion will also double GPA’s rail capacity and give Brunswick the ability to build 10,000-foot long unit trains within the terminal. The port hopes that this will allow it to expand its service to include inland markets far to the west. It already sends thousands of cars to California and Texas by rail, and the ability to build full unit trains will improve the business case for long-haul rail services.

By the end of next year, the GPA will add another 190 acres of leasable space for auto processing at Colonel’s Island Terminal. The ultimate goal is to keep expanding into adjacent, undeveloped land, and to double its nameplate capacity to 1.5 million vehicles per year. 

“By tonnage, Brunswick is already the second busiest Ro/Ro port in the nation, behind only Baltimore,” said Lynch. “As business grows to fill our expanding terminal, the Port of Brunswick will play an even larger role on the global trade in vehicles and heavy equipment.”

The gap between Baltimore and Brunswick is already closing: from 2009-18, Brunswick led the nation with a growth rate of 8 percent, far outstripping other American ro/ro ports and putting it on track to take the top spot in future years.

Source:maritime-executive

MOL to equip 80 bulkers with energy-saving service

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Mitsui OSK Lines (MOL) has confirmed a decision to equip 80 of its operated bulk carriers on a trial basis with a new energy-saving analysis service developed by Helsinki-based software company NAPA.

The service, called NAPA Fleet Intelligence with Noon Report (NAPA FI), relies on information gained from vessel logs and the AIS, and analyses propulsion performance using NAPA’s engineering knowledge and data analysis.

NAPA FI does not require installation of an operational data collection device onboard the ships.

The service will verify the effects of measures to reduce greenhouse gas emissions from the MOL ships, such as more effective engine output control, timely measures for hull and propellers maintenance to prevent reduction of propulsion.

In addition, NAPA FI can be easily adopted on vessels and is expected to optimise propulsion performance and reduce environmental impact even for vessels on short-term charter contracts.

Source:seatrade-maritime

Star Bulk Carriers Corp. Announces The Termination Of The Debt Restructuring Restrictions And A $625 Million Financing Update

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Star Bulk Carriers Corp., a global shipping company focused on the transportation of dry bulk cargoes announced that it has repaid to its lenders all outstanding deferred debt amounts originating from the September 2016 restructuring of its finance agreements.

The Company currently has no restrictions on vessel acquisitions or new debt and is free to make dividend payments to its shareholders from January 1, 2019 onwards. The Company also announced today that it has refinanced existing loans of approximately $617 million with new debt financing totaling over $625 million (“New Debt”).

The New Debt will finance 59 vessels of all types, ranging from Newcastlemax down to Supramax, with an average age of 10.2 years. With this transaction, the Company has been able to expand its banking group to include new European and Asian financial institutions, and reduce its cost of debt as the interest margin on the New Debt is 70 bps lower than the weighted average interest margin on refinanced debt.

Source:hellenicshippingnews

Buenos Aires concession overhaul

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In 2020, a tender is to be issued at the Port of Buenos Aires that will see the existing five container terminal operators replaced by a single concessionaire. At present, three groups effectively control the five terminals: Terminales Río de la Plata (TRP) is owned by DP World and Argentina’s Alfredo Román and operates Terminals 1, 2 and 3 at Puerto Nuevo. APM Terminals has Terminal 4 and HPH Terminal 5.

There has already been a serious dispute between TRP and APMT this year, which was settled through a local agreement.

The government is taking some preliminary steps prior to issuing the tender. As part of a decree, the concessions for Terminals 1-4, which were due to expire in 2019, have been extended for an additional year, while a new tender is to be issued to extend the concession for Terminal 5 until 2020.

The government justifies the need for a single concession as a means of modernising existing port infrastructure, “in order to meet the new demands that arise daily in international trade in relation to cargo and ships and, thereby, not lose competitiveness compared to the rest of the ports in the region, thus facilitating … investment in infrastructure, its maintenance and in the administration of the port”.

Source:hellenicshippingnews

Petrobras Fires Up New Lula Oil Platform Offshore Brazil

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State-controlled oil company Petroleo Brasileiro, also known as Petrobras, said on Oct. 24 it had started production on its eighth platform in the offshore Lula Field, Brazil's most productive, as it ramps up output from the Santos Basin in the coveted pre-salt oil play.

Platform 69, FPSO P-69, will be able to produce up to 150,000 barrels of oil per day and 6 million cubic meters of gas from the field, which already accounts for 30% of production in Brazil, now Latin America's top producer.

The FPSO P-69 features eight production wells and seven injection wells to extract oil and gas from the field, which was discovered in 2006 and where production began four years later.

Petrobras operates the field and owns a 65% stake. Royal Dutch Shell Plc and Galp have 25% and 10% stakes respectively.

In the pre-salt offshore area, billions of barrels of oil are trapped beneath a thick layer of salt under the ocean floor. The Santos Basin already accounts for over half of production in Brazil.

A Shell executive told Reuters last month that Lula should hit peak production in 2020 or 2021, after reaching 1 million barrels of oil and gas per day next year.

Source:epmag

Jan De Nul cooks up new jack-up moniker

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Jan De Nul has named its new offshore installation jack-up vessel Taillevent at a ceremony in the Belgian port of Ostend.

Inspiration for the name Taillevent comes from a historical French chef, who was nicknamed for his agility when working in a kitchen at a young age.

Taillevent translates as “cutting the wind”.  Guillaume Tirel – "Taillevent" – went to work as a kitchen aid at the court of Queen Jeanne d’Evreux.

Pauline Stassijns, granddaughter of director Dirk De Nul, baptised the vessel, joined by the De Nul family, employees and guests.

Guests included Bart Tommelein, Flemish vice minister-president of the Flemish government and Flemish minister for budget, finances and energy.

“The offshore sector is important for our Belgian economy. Thousands of jobs derive directly or indirectly from the construction and maintenance of offshore wind turbines. Not only in our country, but also worldwide. I am happy to welcome the Taillevent of Jan De Nul Group as a new asset in our switch to renewable energy,” said Tommelein.

On 18 July, Jan De Nul Group acquired the vessel, which was built in 2011, from the Dutch company Vroon Group.

Taillevent is designed specifically for the transport and installation of offshore wind turbines and foundations, but is versatile enough for deployment in the offshore oil and gas sector.

The vessel is 140 metres long and can operate in waters up to 40 metres deep. It has six legs equipped with spud cans.

In addition, the vessel has an on-board crane with a lifting capacity of 1,000 tonnes and an auxiliary crane of 50 tonnes.

The acquisition of Taillevent is part of Jan De Nul’s investment in its offshore activities.

Jan De Nul Group offshore director Philippe Hutse said: “We have been investing a lot in staff, expertise and equipment for our offshore activities. In 2015, we acquired the Vole au vent, and this summer the Taillevent; both specialised vessels for the installation of offshore wind farms. Meanwhile our newbuilding department works on more fleet expansion plans. These investments are key for Jan De Nul Group’s growth.”

Jan De Nul has executed several offshore wind projects in Belgium, the UK Sweden, Denmark, Finland and Germany. The company is also working on Taiwan’s first offshore wind farm projects, Changhua and Formosa 1 Phase 2.

Jan De Nul Group manager for offshore renewables Peter De Pooter said: “The Taillevent is complementary to our Vole au vent and will enable us to further develop and expand our offshore wind expertise. Having two offshore installation vessels in our fleet, we can serve the industry better and respond more quickly to needs.”

“We already executed a number of comprehensive wind projects in Europe and look ahead with confidence and enthusiasm,” he added.

Source:renews

Oil and gas firms need to boost spending to meet demand

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Global oil and gas development spend needs to increase by around 20% to meet future demand growth and ensure companies sustain production next decade, according to energy consultancy Wood Mackenzie. The consultant says the recovery is much slower and shallower than in previous cycles and forecasts that development spend will increase 5% this year, after a 2% rise on 2017.

"Companies will need to start investing again to sustain their business. But decision-making will be fraught with uncertainties, the oil price and energy transition not least among them"…said Malcolm Dickson, director, upstream oil and gas.

Meanwhile, investment rises from a low of US$460 billion in 2016 to just over US$500 billion in the early 2020s – far below the US$750 billion peak in 2014.

"Four years of deep capital rationing have had a severe impact on resource renewal, especially in the conventional sector. Companies are rightly cherry-picking the best conventional projects in their portfolios for greenfield development. But not enough new high-quality projects are entering the funnel to replace those that have left,"…noted Tom Ellacott, senior vice president, corporate research.

As a result, conventional growth inventories have shrunk during the downturn. Global pre-FID conventional reserves now only cover two years of global oil and gas production. While there is a new wave of big LNG projects coming, investment in conventional, deepwater, US shale gas and oil sands will be well below pre-downturn levels.

Only US tight oil is set for consistent investment growth over the next few years, driven by the Permian. The result is a corporate sector divided in two: the US tight oil “haves” with a strong outlook for investment and growth; and the “have nots”, the majority of which face a looming production challenge next decade.

For the kick-start of a new investment cycle, Wood Mackenzie calculates that annual development spend will need to increase to around US$600 billion to meet future demand for oil and gas through next decade. But Mr. Ellacott does not expect a rush to re-invest:

Many companies will justifiably be concerned about committing substantial capital to long-term projects with peak oil demand and energy transition risks within the investment horizon. There's also a prevailing mindset of austerity designed to appease shareholders — investment is lower in the pecking order for surplus cash flow than dividends and buy-backs.

Wood Mackenzie expects strict capital discipline to continue to frame investment decisions, at least in the near-term. This will favour short-cycle, higher-return opportunities. The performance of US tight oil will be critical. US tight oil spend peaks in 2023 at a level 20% higher than 2014 in our base-case.

Bigger and better conventional projects will ultimately be required. Around half of the reserves in Woodmac's pre-FID project dataset need oil prices above US$60 per barrel to achieve a 15% return – in this disciplined world many companies are screening new projects on long-term oil prices well below spot.

Further progress in project re-scoping, digitalisation and better fiscal terms will all need to play their part in getting these projects over the line. Exploration success will also be crucial to replenishing depleted conventional inventories. Yet-to-find volumes offer great potential. But exploration budgets were slashed 60% during the downturn and have yet to recover. Spending will need to increase to deliver the required volumes to drive higher investment.

Source:safety4sea

Largest bismuth plug deployed offshore Norway

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 BiSN has achieved a world first in conjunction with Aker BP and Altus Intervention, through the deployment of the largest-ever bismuth plug.

The company’s Wel-lok M2M technology, which can be used during well and rigless well abandonment, was deployed via E-line in collaboration with Altus Intervention in Aker BP’s Valhall A-30 well in the Norwegian North Sea.

Conducted as a field trial, the tool was set to evaluate the effectiveness of bismuth as a permanent seal for P&A operations in lieu of cement. With 3,500 kg of bismuth alloy, a gas tight surface seal was created inside 18-5/8-in. casing through a section milled window cut in the 13-3/8-in. casing, entering previously unchartered territory regarding weight, size, and precise setting procedures.

BiSN CEO Paul Carragher said: “This project is an important step towards the adoption of bismuth well sealant technology. Wel-lok M2M drastically reduces the rig time needed to complete well abandonments through the use of thermite heaters to melt bismuth-based alloys.”

“We are fundamentally changing the way downhole sealing is carried out, and through trials like this, we continue to break the mold of traditional methods, changing the way operators look at well abandonment.”

Source:offshore-mag

Oil and Gas Demand to Peak in 2023 and 2034: DNV GL

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The oil and gas demand will peak in 2023 and 2034, respectively, according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050

However, new oil fields will be needed until at least the 2040s, while new gas developments will be required beyond 2050. DNV GL’s Outlook predicts that operators will favour production from a greater number of smaller reservoirs with shorter lifespans, lower break-even costs and reduced social impact compared to those currently in operation.

“Most easy-to-produce, ‘elephant’ oil and gas fields have been found and are already in production. Smaller reservoirs will likely be harder to explore and develop commercially. Digitally-enabled technologies such as directional drilling and steerable drill bits, 4D seismic backed by advanced data analytics and steam flooding, will be crucial to ensure that exploration and production is economic and efficient,” said Liv A. Hovem, CEO, DNV GL – Oil & Gas.

DNV GL’s Outlook recommends that existing technologies for decarbonization, such as carbon capture and storage (CCS) will also need to be implemented at scale for the oil and gas sector to stay relevant in a rapidly decarbonizing energy mix. It forecasts CCS will capture only 1.5% of emissions related to energy and industrial processes in 2050.

Global warming will likely reach 2.6 degrees Celsius (°C) above pre-industrial levels in 2050, according to the Outlook. This is well above the 2°C target set out by the COP 21 Paris Agreement on climate change. By 2050, the Outlook predicts 972 gigatonnes of carbon will be emitted, overshooting the 810 gigatonne budget associated with the target.

“Our forecast reaffirms that the oil and gas industry has a vital role to play in the energy transition. It is our sector’s responsibility to maintain a sharp focus on decarbonization, sustainable production, cost management, and the need to embrace innovative technologies to secure long-term supply of sustainable and affordable energy,” added Hovem.

DNV GL’s suite of 2018 Energy Transition Outlook reports are available to download free of charge. The main ETO report covers the transition of the entire energy mix to 2050. It is accompanied by three supplements forecasting implications for the oil and gas, power supply, and maritime industries.  

Source:marinelink

EU Okays CMA CGM’s takeover of Containerships

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European Commission’s competition regulators has approved CMA CGM acquisition of Container Finance, the holding company that controls regional container operator Containerships.

CMA CGM, the world’s fourth largest carrier by capacity, agreed in June to acquire Finland-based Containerships and its logistics operations.

"A combination agreement between Container Finance Ltd Oy and CMA CGM, signed on 20th June 2018, has been accepted unconditionally by all relevant competition authorities meaning CMA CGM is free to take over short sea carrier Containerships," said a statement from Containerships.

Upon closing the agreement, Container Finance’s entire container logistics operations including Containerships plc, Multi-link Terminals Ltd and CD Holding Oy will integrate to CMA CGM’s intra-regional market offering in Europe and Mediterranean area.

CMA CGM said that the acquisition of Containerships would “strengthen even more the development strategy implemented by Rodolphe Saadé, CMA CGM Group’s Chairman and CEO, aimed at densifying the group’s regional network.”

Foundend in Finland in 1966, Containerships is an Intra-European Shortsea specialist  and has a workforce of 560 people and offers its customers a wide range of services, as well as logistics solutions by ship, truck, rail and barges.

It has a strong presence in the Baltic market, Russia, Northern Europe, North Africa and Turkey, which is expected to strengthen CMA CGM’s intra-European offer, specially in North Europe and the Mediterranean.

"The combination will not affect the rights of Containerships’ bond holders. Containerships continues to develop routes and services to provide industry’s best customer experience," said the statement.

Containerships is undergoing a significant environmentally strategy, in preparation for the International Maritime Organisations’ 2020 rules on sulphur emissions.

Source:marinelink

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