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Bulk Carrier | Flag: Malta | Port: VALLETTA

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Bulk Carrier | Flag: Malta | Port: VALLETTA

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Bulk Carrier | Flag: Malta | Port: VALLETTA

Maritime News

Tanker Shipping Facing a Tough Year Ahead, says BIMCO

Tanker Shipping Facing a Tough Year Ahead, says BIMCO

12 minutes ago
After a turbulent year, low demand looks set to plague the market in the coming months combined with too many ships fighting for too few cargoes in both the crude oil and oil product segments, says the Oil Tanker shipping overview and outlook released today by BIMCO.Demand drivers and freight ratesThe realities of the pandemic are setting in for the tanker market. The record-breaking Q2 2020 is a distant memory and, instead, the market faces a slow recovery with low demand, stock drawdowns in consuming countries (with products already where they need to be and therefore not being transported by sea) and loss-making rates.
Petrobras, SBM Offshore Sign LoI for Giant Búzios Field FPSO

Petrobras, SBM Offshore Sign LoI for Giant Búzios Field FPSO

3 hours ago
Brazilian oil giant Petrobras has signed a letter of intent with Dutch FPSO supplier SBM Offshore for the delivery of an FPSO to be deployed in the Búzios field in the Santos Basin, offshore Brazil.SBM Offshore will be responsible for the engineering, procurement, construction, installation, and operation of the FPSO, to be named the FPSO Almirante Tamandaré. The contract for the lease and operation is for 26.25 years. The FPSO will be the largest oil-producing unit operating offshore Brazil and one of the largest in the world, with a daily processing capacity of 225,000 barrels of oil and 12 million m3 of gas.
COVID-19 Mitigation on Rigs & Ships

COVID-19 Mitigation on Rigs & Ships

12 hours ago
Steve Lykins, President, Mako Industries, discusses the case for investing in Puradigm COVID-19 mitigation and monitoring technology onboard offshore rigs and ships.The creation of Mako Industries, a subsidiary of Mako Oilfield Services, is proof that every storm cloud has a silver lining. “Mako Industries is an interesting company that was spawned as a result of Mako Oilfield pivoting as a result of the downturn in early 2020 and Q1 2020,” said Steve Lykins, President, Mako Industries.
AqualisBraemar Takes Care of Petrobras Shuttle Tankers' DP

AqualisBraemar Takes Care of Petrobras Shuttle Tankers' DP

an hour ago
Brazilian national oil company Petrobras has hired AqualisBraemar to perform DP acceptance and annual trials for their DP shuttle tanker fleet operating in Brazil over the next three years.Under the contract, AqualisBraemar will carry out trials to verify the integrity and capabilities of the station-keeping equipment for Petrobras’ shuttle tanker fleet.Shuttle tankers transport crude oil from offshore oil fields to terminals, refineries or bigger tankers where subsea pipelines are not feasible.
Cheniere Expects Rising LNG Demand with Vaccine Rollout

Cheniere Expects Rising LNG Demand with Vaccine Rollout

14 hours ago
Cheniere Energy Inc, the top U.S. liquefied natural gas producer, on Wednesday raised its full-year adjusted earnings forecast, predicting higher demand for the fuel as COVID-19 vaccinations boost economic recovery.Lockdown measures implemented to curb the pandemic slashed demand for energy and hurt prices for natural gas in 2020. But with economic recovery in Asia, particularly in China, fuel sales have picked up.Shares rose 1% to $70.37 in midday trading, a more than two-year high."We expect continued LNG demand improvements as COVID vaccines are distributed and global economic activity continues to strengthen," Chief Commercial Officer Anatol Feygin said in a webcast with analysts.
Maritime Reporter and Engineering News (February 2021)
Maritime Reporter and Engineering News (February 2021)
Government Shipbuilding