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Strikes in Felixstowe and Liverpool a double whammy to UK’s overstressed Supply Chain

Europe’s overstretched supply chains are experiencing a double whammy of disruptions as transport unions in Felixstowe and now in Liverpool prepare for labour strikes later this month in response to soaring inflation; according to the analysis published by Container xChange, a technology platform for managing container operations. The strikes will lead to port closures stretched …

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Global supply chains poised for relief as ship congestion eases

Shipping container traffic that had been severely congested during the pandemic is clearing and shipping prices are falling by a record margin in a sign that snags that had bedeviled global supply chains are finally easing. According to Nomura Research Institute, the number of container vessels waiting offshore of the Port of Los Angeles-Long Beach …

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LNG tankers key to smooth imports, energy security

Efforts to increase the number of China’s liquefied natural gas carriers will deepen the country’s ability to transport LNG independently and help its importers seal more long-term purchase deals, industry analysts said this week. They commented after Japan’s Mitsui O.S.K. Lines Ltd signed a long-term charter contract for three new LNG carriers with ENN LNG …

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FMC Issues Proposed Rule on OSRA Refusal to Deal on Vessel Space Accommodations

The Federal Maritime Commission (FMC) announced on Sept. 13, 2022, that it is seeking public comment on a Notice of Proposed Rulemaking (NPRM) addressing what constitutes an unreasonable refusal to deal or negotiate with respect to vessel space accommodations by an ocean common carrier – a statutory prohibition added by the Ocean Shipping Reform Act …

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More North Sea work for Deepsea Yantai rig

OMV Norge, a Norwegian subsidiary of Austria’s oil and gas company OMV, has contracted the Deepsea Yantai semi-submersible rig for drilling operations in the North Sea. The Deepsea Yantai is managed by Odfjell Drilling and owned by China’s CIMC Raffles. Odfjell Drilling revealed on Monday that, on behalf of CIMC, it has agreed on a …

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Jack-up rig kicks off Black Sea drilling campaign

Following delays, Canada’s oil and gas producer Trillion Energy has started its 2022 – 2023 drilling campaign on a natural gas field in the Black Sea off Türkiye. In addition, the firm revised its timeline for the first gas from this campaign, which is now anticipated in early November. Trillion disclosed on Monday that it …

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The Netherlands sets 70 GW offshore wind target for 2050, plans large-scale green hydrogen production

The Dutch Government has set a target of 70 GW of offshore wind energy until 2050, based on the assumption that 50 GW could be installed by 2040. In addition to electricity generation, the Government also plans for some of the country’s offshore wind capacity to be used for large-scale green hydrogen production in the North …

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Germany to transform Rostock, Lubmin into energy ports of the future

Germany’s government revealed plans to upgrade ports of Rostock and Lubmin in Mecklenburg–Western Pomerania state into energy ports, supporting the country’s energy security strategy. In Brandenburg, the federal government presented a future package for the transformation of east German refinery sites and ports on 16 September. The package contains in particular measures for the development …

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Shell reaches agreement with workers’ union, restarts Prelude FLNG production

Oil and gas major Shell has restarted production at its Prelude floating liquefied natural gas (FLNG) facility offshore Western Australia after reaching an agreement with the Australian Workers’ Union and Electrical Trades Union. “Cargoes have resumed from Shell’s Prelude FLNG facility and production has restarted”, Shell Australia confirmed in an update on Prelude FLNG activity. …

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Dry Bulk Market: Capesize Market Recovered Lost Ground This Week

Capesize The Capesize market made a revival this week, taking fortunes out of the red by rising the tide on values to be closer to the low-teens level on the 5TC. Far from being into smooth-sailing territory yet, the market doesn’t seem quite ready to embrace ever strengthening levels as Friday’s index dampened values down …

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