Crude oil giant Exxon Mobil will invest 4.4 billion USD to develop a part of the Lisa oil field off the coast of Guyana by approving a mega-project at a time when the oil industry is obsessed with cheaper shale oil. The Exxon Mobil’s decision shows that oil companies remain interested in major projects, especially offshore, even in the austerity era after two years of low oil prices.
Exxon partners in the field in Guyana with Hess Corp and CNOOC. Lisa oil field is the fifth deepwater project to win approval this year. Earlier, BP and Reliance Industries said they would invest 6 billion USD to develop natural gas reserves along the Indian coast.
Exxon, which spent nearly 7 billion USD earlier this year to double its share in a Perian shale formation in the US, said the Guyana project was partially approved due to low production costs.
“We are thrilled by the incredible potential of the Lisa field and the acceleration of the first production by step-by-step development in this environment at lower prices”, said Liam Mallon, head of Exxon.
The first stage of the field development project should bring a total of 450 million barrels of oil and about 120,000 barrels per day, when it starts work in 2020. The Lisa Field is about 100 nautical miles from the coast of Guyana. Exxon plans 17 wells as part of the first phase of the project, and a second phase is possible in the future.
New York-based Hess said it expects its share in project costs to be about 955 million USD.
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The US Navy destroyer USS Fitzgerald was breached after collision with container ship ACX Crystal in Tokyo Bay on 55 nautical miles off Yokosuka, Japan. The both vessels were proceeding during the night on crossing routes in heavy traffic area, but did not manager to maneuver accordingly and collided, in which the bow of container carrier stuck in the starboard of US warship. Following the accident several US soldiers are missing, while three other were injured, including the USS Fitzgerald’s commander Bryce Benson. The injured commander was airlifted by helicopter and transported to Yokosuka Naval Base hospital, but without life-threatening injuries. Other two people were slightly hurt during the accident.
The Japanese Coast Guard initiated large-scale search and rescue operation for the missing seamen. Nearby vessels were also engaged with searching for the US soldiers.
The container carrier suffered slight damages and breaches in the bow section, but without danger for her seaworthiness. The US warship’s hull was breached in the starboard, suffering water ingress, but without immediate danger of sinking. The crew succeeded to stabilize the vessel USS Fitzgerald, which proceeded by own power to Yokosuka Naval Base.
“The USS Fitzgerald suffered damage on her starboard side above and below the waterline”, the Navy said in a statement. “Right now we are focused on two things: the safety of the ship and the well-being of the sailors”, adds the statement.
The local authorities initiated investigation for the root cause of the accident. The merchant ship was detained in the area of collision until further investigation. On first reading and according to maritime navigation experts, the US warship seriously violated the ColReg rules do not giving priority for the container ship, which they saw from starboard. Often warships violate the ColReg rules, expected to being treated as special vessels. However, during the night and in such heavy traffic area, such violation might cause serious accident, as it happened.
The container ship ACX Crystal (IMO: 9360611) has length of 222.60 m, beam of 30.10 m and draft of 9.60 m. The deadweight of the vessel is 39,565 DWT and the gross tonnage is 29,060 GRT with capacity to carry 2,900 TEU. During the accident the container carrier was en route from Nagoya to Tokyo.
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One of the largest container ships Madrid Maersk docked at APM Terminals in Rotterdam. The vessel, which was commissioned in March 2017 and first second-generation Maersk Triple-E class carrier, completed the first voyage on the service AE-2 from Far East Asia to Europe. The service is operated by the 2M Alliance, being formed by the world’s largest container lines – Maersk Line and Mediterranean Shipping Company.
APM Terminals operates two terminals in the port of Rotterdam, one of the largest container ports in Europe. Port occupies the 13th place in the world in terms of cargo volumes. In 2016 the port’s container turnover reached 12.3 million TEU. The terminal of APM Terminals Rotterdam was commissioned in October 2000. Last year, the terminal handled 1.36 million TEU of cargo, while the second terminal of APM Terminals in the port area of Maasvlakte II handled 700,000 TEUs.
The container ship Madrid Maersk (IMO: 9778791) is the second largest container ship in the world and the second carrier to surpass the 20,000 TEU threshold. She was built at the Daewoo Shipbuilding & Marine Engineering shipyard and was delivered in April 2017. The container ship Madrid Maersk has overall length of 399.00 m, moulded beam of 58.60 m and maximum draft of 15.50 m. The deadweight of the vessel is 206,000 DWT and the gross tonnage is 214,286 GRT. Madrid Maersk has a capacity of 20,568 TEUs and is the first of eleven second generation Maersk Triple E class container ships. Maersk Line, the company owner, is taking delivery of 27 vessels of the same type to replace older ships through the end of 2018.
Video from docking of Madrid Maersk in Port of Rotterdam:
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On the territory of Hisingen, near the port of Gothenburg in Sweden, started the construction work on the site of the future new logistics park with total area of 1 million sq m. The first phase provides for the construction of a logistics complex with a total area of 26,000 sq m. The facility should be completed during the first quarter of 2018. The new logistics facility will be divided into smaller units – from 6,000 sq m and more. On the roof of the facility will be installed solar panels. From the total 127,000 sq m of allocated land for the logistics terminal, about 60,000 sq m is planned to be used for construction of necessary building and facilities.
The logistics park is in the immediate vicinity of the port of Gothenburg. Approximately half of the park area will be occupied for storage facilities. In addition to the port of Gothenburg, which owns the largest land plot, Bockasjo, Eklandia, NCC and Prologis are involved in the construction of the real estate.
The port of Gothenburg is the largest port in the Scandinavian region, in which 11,000 ship calls are registered every year. Through the port passes 30% of Swedish foreign trade, as well as 60% of all container cargo. The port has terminals for transshipment of oil products, cars, Ro-Ro and container cargo, as well as passenger terminals. Gothenburg is the only Swedish port able to receive the world’s largest container ships operating on international lines.
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Greek shipping companies have largest share in the global orderbook since the beginning of the year, according to the latest report of VesselsValue. According to the broker, the Greek owners have placed 35 orders for new cargo ships, mainly bulk carrier and tankers. Globally only 119 orders have been placed so far.
The shipowners in Greece are followed by USA (14 new orders), Singapore (10 new orders), Norway (8 new orders) and Netherlands (6 new orders).
“Many in the shipping industry are worried that there is an imbalance of supply and demand between the number vessels currently on the water and the amount of cargoes”, said the report of VesselsValue. “This situation does not look to improve in the near future as there is just under 66 million DWT of tankers and bulkers to be delivered during the rest of 2017, representing 47% of the current bulker and tanker order book”, adds the report.
Over the last 5 years, a major source of finance & investment in the newbuilding market came from the private equity sector who invested heavily to capitalise in the post-crash market downturn. Today the preference from the private equity sector is to invest in tonnage already delivered and on the water so that an immediate return on their investment can be realised. This led to a lack of newbuilding finance available and resulted in a gap in deliveries at the major shipyards and therefore increased appetite from them to take orders. In early 2017 the cash rich Greek community took advantage of this, securing a number of orders at competitive prices.
As we progress through 2017, yard capacity has reduced but continued buying demand from the private sector remains. This is one of the major factors that has led to the increase in newbuilding prices over the past 5 months.
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Offshore worker went missing in UK North Sea from the jack-up rig Noble Lloyd Noble, operating at Statoil’s Mariner field on 90 nautical miles off Shetland. The accident was reported by the crew in Tuesday evening after the 49 year-old man was not found on board of the platform. The Scotland Police and Coast Guard initiated investigation and launched air and sea search and rescue operation. Two supply boats were also engaged into searching of the missing man. The operations on board of the jack-up rig Noble Lloyd Noble were stopped during the rescue operations.
The accident occurred in Mariner field on 90 nautical miles off Shetland, which is operated by Statoil, but the jack-up rig is owned by Noble Corporation. The both companies deployed all the forces in the searching of the missing person.
“Statoil vessels have been involved in an extensive search of the water surrounding the rig and together we will continue to do everything we can to support the ongoing search effort. Our priorities are the safety of all the personnel on board, assisting in the search operation for the missing person and supporting next of kin and colleagues of the missing person. All operations have been stood down on the rig”, said the statement of Noble Drilling.
Noble Lloyd Noble was built in 2016 by Jurong Shipyard. It started operations at the Mariner field last December.
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The container ships Iapetos and MSC Donata collided at the port of Thessaloniki. The both vessels suffered slight damages and no reported injuries. The boxship Iapetos was maneuvering to berth at Pier 6 in the Greek port with pilot on board, but adrifted more and collided with already docked large container carrier MSC Donata. Both vessels were slightly damages without suffering water ingress and putting in danger the seaowrthiness of both. The ships remained afloat, but were detained from local authorities for further inspection and special survey. The local authorities initiated investigation for root cause of the accident, but fortunately there was no water pollution and injured people.
The container carrier MSC Donata was later during the day released to resume voyage to Izmir in Turkey, while Iapetos remained in the port for cargo handling operations.
The container carrier MSC Donata (IMO: 9237151) has deadweight of 52,806 DWT and gross tonnage off 40,108 GRT. The ship has length of 257.80 m, width of 32.20 m and draft of 9.00 m.
The boxship Iapetos (IMO: 9204491) has gross tonnage of 8,737 GRT and deadweight of 9,113 DWT. The vessel has length of 134.00 m, width of 23.00 m and summer draft of 6.30 m.
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The general cargo ship Lady Mathilde contacted the north bend of Kiel Canal after engine failure. The vessel was transiting on westbound route from Virtsu to Amsterdam and accident accident between Gross-Nordsee and the ferry pier Landwehr. The defective cooling water pump had caused the engine failure on Sunday evening and ship suddenly veered to starboard and timewise listed five degrees to port when sliding over the bottom, before turning to the south shore. The freighter was able to enter the port of Rendsburg on his own, where will be inspected before released to resume the voyage.
During the accident there were no reported material damages and no injured people. The ship resumed the voyage shortly after being inspected.
The general cargo ship Lady Mathilde (IMO: 9115975) has overall length of 88.00 m, moulded beam of 12.50 m and maximum draft of 4.50 m. The deadweight of the vessel is 3,332 DWT and the gross tonnage is 2,561 GRT.
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