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ExxonMobil builds on exploration success off Guyana with new oil discovery

U.S.-headquartered energy giant ExxonMobil has made a new oil discovery at the Stabroek block offshore Guyana, which demonstrates continued exploration success and bolsters the block’s hydrocarbon resources. Noble Don Taylor; Source: Noble Corp. The new oil discovery, made at the Lancetfish-1 well on the Stabroek block, was disclosed on Wednesday, 26 April 2023, by ExxonMobil’s partner …

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WATCH: 137,500 cbm ISH FSU docks at Philippines LNG import terminal in ‘a historic moment’

ISH, a 137,500 cbm floating storage unit (FSU), has arrived at Atlantic Gulf & Pacific’s (AG&P) Philippines LNG (PHLNG) import terminal in Batangas Bay, bringing affordable and clean LNG to the country for the first time. ISH FSU docks at Philippines LNG import terminal (Screenshot). Source: AG&P Chartered by AG&P for a 15-year period from …

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Cargo ship strikes turbine at Orsted’s Gode Wind 1 offshore wind farm, suffers massive damage

A cargo ship arrived in Emden, Germany with a massive hole in its hull after reportedly striking a wind farm. Image credit: Wasserschutzpolizeiinspektion Oldenburg According to the German water police, the damaged vessel arrived from Szczecin, Poland to Emden on April 25, 2023. The Antigua-flagged vessel was loaded with 1,500 tons of grain destined for …

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Maersk Growth invests in Danish biofuel producer

Maersk Growth, a venture arm of industry major A. P. Moller – Maersk, has together with VÅR Ventures, invested in Kvasir Technologies, a Danish technology company developing a proprietary technology for the production of carbon-neutral biofuel from non-edible biowaste material. Image credit: Kvasir Technologies The company has raised EUR 2.15 million from this investment round, pushing …

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BV approves Technip Energies’ floating CO2 storage and injection concept

French engineering company Technip Energies has received Approval in Principle (AiP) from compatriot classification society Bureau Veritas (BV) for its Offshore C-Hub concept. Offshore C-Hub for CStore1 project; Archive, Source: deepC Store Technip’s Offshore C-Hub concept is a floating vessel that receives liquid CO2 from shuttle tankers, provides buffer storage of liquid CO2 in its …

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Baltic index ticks up as higher capesize rates offset dip in smaller vessels

The Baltic Exchange’s main sea freight index edged up on Wednesday as higher rates for capesizes outweighed declines in smaller vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 26 points or about 1.7% to 1,536 – its highest in almost three weeks. …

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DNV joins Standards working group on methanol bunkering as interest in low-carbon fuels for shipping surges

DNV has joined a working group on methanol bunkering, managed by the Standards Development Organisation at Singapore Chemical Industry Council (SCIC-SDO), the classification society announced at Singapore Maritime Week. The multi-stakeholder working group will develop a Technical Reference (TR) for methanol bunkering for Singapore, the world’s largest bunkering hub. The SCIC, appointed as the Standards …

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Weakening market conditions sees a return to pre-pandemic cargo exchange levels

The drop off in cargo demand has enabled container carriers to revert to more normalised call patterns which has underpinned the reduction in congestion across the main import markets. Drewry’s latest analysis of the global container ports market shows a rapid correction to pre-pandemic call sizes and vessel exchanges across both the North American and …

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Russia renews threats of abandoning the Black Sea Grain Initiative, the UN-backed deal that helped reopen Ukraine’s ports

The basic food security of tens of millions across the globe is hanging by a thread as Russia mulls whether it will preserve a deal that has permitted Ukrainian grain to move through the Black Sea. Russian Foreign Minister Sergey Lavrov on Tuesday renewed threats of abandoning the Black Sea Grain Initiative, an agreement that …

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