U.S. Secretary of the Interior Deb Haaland used the Oceantic Network’s 2024 International Partnering Forum, currently under way in New Orleans, to announce a new five-year offshore wind leasing program and to report that the Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) have finalized updated regulations for renewable energy development on the U.S. Outer Continental Shelf (OCS).
Interior says that the final rule increases certainty and...
Russian warships entered the Red Sea last Thursday, for what the Russian Pacific Fleet’s press service has stated was the performance of “assigned tasks within the framework of the long-range sea campaign.” This intentional vagueness has invited no small amount of speculation as to the ships’ true objectives.
Theories range from retaliatory pressure on Israel, which decided in late February to co-sponsor a United Nations resolution condemning Russia’s invasion of Ukraine, to supporting...
https://www.freightwaves.com/news/red-sea-crisis-nears-boiling-point-unable-to-heat-up-spot-rates
Qatar Gas Transport Company Limited (Nakilat) has signed long-term charter party agreements for 25 conventional LNG carriers with QatarEnergy. This is a key part of QatarEnergy’s ongoing fleet expansion program which is intended to cater for the LNG transportation requirements of the company’s LNG expansion projects as well as its fleet renewal requirements.
Seventeen of the 25 LNG vessels are being constructed at the Hyundai Heavy Industries (HHI) shipyards in South Korea, while the remaining...
Abu Dhabi Islamic Bank (ADIB) has closed a sharia compliantsyndicated transaction totalling AED 865 million (US$ 235 million) to enable BGN and Al Seer Marine to finance three new very large gas carriers (VLGC). This financing marks the second tranche of a larger syndication amounting to US$ 370 million, which will be used to finance the construction of these vessels in South Korea and Japan.
ADIBacted as the lead arranger and was supported by a number of other financial institutions,...
https://www.themaritimestandard.com/adib-funds-vlgc-acquisitions/
APM Terminals Pipavav (GPPL) has recently marked a significant milestone as it celebrated 25 years of handling Liquefied Petroleum Gas (LPG) at the port. This achievement is based around a long-standing partnership between GPPL and Aegis Vopak Terminals Limited.
As well as enabling the onward movement of LPG cargoes by rail since 2022, GPPL is currently investing in a new liquid berth to cater to the increasing demand for liquid cargoes. This follows an enhancement of its liquid berth capability...
https://www.themaritimestandard.com/gppl-celebrates-25-years-of-lpg-handling/
Sohar Port and Freezone and TFG Marine recently signed an MoU to establish an international bunker fuel supply operation within the Omani deep-sea port.
Commenting on this agreement, Emile Hoogsteden, CEO of Sohar Port, said it reconfirmed its commitment to build a “digitalised and transparent bunker operation that meets international standards already introduced in Singapore and soon to be implemented in Rotterdam.” Under the terms of the MOU, TFG Marine will establish an international bunker...
https://www.themaritimestandard.com/sohar-bunkering-agreement-signed/
In early February, oil markets were lulled by hope of a now-unlikely ceasefire in the Israel-Hamas war. But a recent string of Houthi attacks have reignited concerns about the Red Sea crisis, raising the floor for tanker rates.
The Iran-aligned Houthis claimed responsibility for Friday’s attack on oil tanker M/T Pollux, which was bound for India. No injuries were reported.
This and other recent Houthi attacks, which followed a brief pause in early February, led major maritime insurer Steamship...
https://www.freightwaves.com/news/war-risk-exclusions-by-insurers-heighten-stakes-in-red-sea-attacks
QatarEnergy has selected Qatar Gas Transport Company Limited (Nakilat) to be the owner and operator of up to 25 new LNG carriers in accordance with time charters to be entered into by the two companies. The agreement, part of QatarEnergy’s long term fleet expansion project, is intended to cater for the LNG transportation requirements of QatarEnergy’s LNG field expansion plans, as well as its gas carrier fleet renewal needs. It is expected that other bidders and vessel owners will be announced...
https://www.themaritimestandard.com/nakilat-awarded-lng-carrier-contact-by-qatarenergy/
Qatar Gas Transport Company and its joint ventures achieved a net profit of QAR 1,559 million in 2023, an increase of 8.3% compared to QAR 1,439 million for the same period in 2022. According to the company this steady increase in profits reflects initiatives to improve operational efficiency as well as its ability to capitalise on opportunities that have arisen in the energy transportation market, despite ongoing challenges.
Earlier this year Nakilat announced plans to invest further in its gas...
https://www.themaritimestandard.com/nakilat-turns-in-strong-financial-performance-for-2023/
Doha-based Nakilat is to embark on a significant fleet expansion, following a newbuilding agreement signed with Hyundai Samho Heavy Industries (HSHI) of South Korea. This provides for the construction of six gas carriers, including two LNG ships, with a cargo capacity of 174,000 m3 each, and four 88,000m3 ammonia/LPG carriers.
The new vessels, set to be delivered between 2026 and 2027, will feature a number of environmentally friendly and efficient propulsion systems with fuel-saving devices....
https://www.themaritimestandard.com/nakilat-announces-major-fleet-expansion/