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Homeless LNG Here to Stay

Posted by PortVision on Jan 10, 2017 6:07:00 AM

Low prices and abundant supplies have created what is being called “homeless LNG:” liquid natural gas without committed buyers being housed in tanker ships roaming the high seas.

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Oil companies see their future in Liquid Natural Gas

Posted by PortVision on Dec 21, 2016 6:07:00 AM

At present, natural gas has a market advantage over other types of fossil fuels – global environmental standards are less rigorous for this fuel. Due to this advantage, the market is seeing big oil companies turn their focus to natural gas.

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Ship's anchor cuts internet cables from Jersey to the UK

Posted by Chris Leslie on Dec 16, 2016 6:07:00 AM

Last month, a ship transiting the English Channel accidentally cut internet cables, used by network company JT, that connected Jersey to the UK. This resulted in dramatically slower internet speeds for residents on the island, who had to rely on a single cable connected to France.

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Are there issues navigating the new locks in the Panama Canal?

Posted by PortVision on Sep 27, 2016 6:07:00 AM

During the first ship's inaugural transit through the newly expanded canal, a navigation error caused a crash, as reported by the New York Times. The Cosco Shipping Panama, a Chinese container ship, scraped along a canal wall.

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Iran struggles to find enough ships for its oil exports

Posted by PortVision on Jun 15, 2016 6:07:00 AM

With the lifting of 2011 and 2012 EU sanctions, Iran is eager to regain its markets for oil exports around the world, but it is struggling to find enough ships to ramp up those exports.

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The Case of the Contango: Supertankers used to Hoard Crude for Later Sales

Posted by PortVision on Jun 1, 2016 6:07:00 AM

With continuing low oil prices globally, countries and companies are stockpiling vast quantities of oil. A recent CNN Money article emphasizes China's aggressive policies to build its strategic oil reserves in this regard. The 440,000 ton TI Europe has been leased by China's state owned oil company, Unipec. It is anchored just off the coast of Malaysia in the Strait of Malacca holding 3 million barrels of oil. It is costing China $40,000 a day to store the oil until it is sent to China in smaller ships.

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First Methanol-fueled Tanker Launched

Posted by PortVision on May 24, 2016 12:12:51 PM

Built by Hyundai for Norwegian firm Westfal-Larsen, the first methanol fueled ocean-going vessel launched in April 2016 from the Hyundai Mipo Dockyard in South Korea. The Lindanger is the first of four vessels to be constructed to DNV GL class. It is a dual-fueled 50,000 dwt tanker and has already been chartered to Waterfront Shipping, a global marine transport firm and a wholly-owned subsidiary of Methanex Corporation, which will also charter one more. Methanex is the world's largest producer of methanol and operates 22 deep sea tankers used for the global transport of methanol.

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Implications of the Panama Canal Expansion for Shipping

Posted by PortVision on May 3, 2016 6:07:00 AM

A Panama Canal expansion launched in 2007 and originally planned for completion in October 2014 is now slated to open by the end of June, according to Reuters. The latest delays were caused by cracks and leaks in the new concrete walls. The final cost for the expansion may exceed $5.3 billion (US dollars). Panama will benefit from the expansion – the government predicts an additional $1.4 billion in revenue in 2017. The new channels will also affect worldwide shipping.

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The Rise of Environmentally Friendly Vessels

Posted by PortVision on Apr 26, 2016 6:04:00 AM

The February 18, 2016 issue of Nature featured an article on the human and environmental costs of shipping. A litany of facts about the pollution inherent in global shipping is included: low-grade marine fuel has 3,500 times more sulfur than road diesel, one-third of the airborne pollutants in Hong Kong are derived from large ships when in port, and scrapping obsolete ships pollutes both the sea and the soil.

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Mega-ship Challenges and Benefits for Ports

Posted by PortVision on Apr 19, 2016 6:07:00 AM

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