InterManager Daily News 27.07.2022.

1. ADNOC Logistics & Services buys compatriot OSV player Zakher MarineADNOC Logistics & Services, the shipping and maritime logistics arm of the state-owned Abu Dhabi National Oil Company (ADNOC), has acquired offshore support vessel owner and operator Zakher Marine International (ZMI) for an undisclosed sum.

2. South Korean shipbuilders exposed to Russia-related Risks

South Korean shipbuilders’ contracts with Russia are being mentioned as a factor that may hinder their profitability improvement. They are aiming to turn a profit next year, but any payment failure on the part of Russian shipowners may delay the schedule. At present, contracts with Russia total US$5 billion in Samsung Heavy Industries, US$2.5 billion in Daewoo Shipbuilding & Marine Engineering, and US$550 million in Hyundai Samho Heavy Industries.

3. TotalEnergies has definitively Withdrawn from Myanmar

On January 21, 2022, TotalEnergies announced its decision to withdraw from the Yadana field and from gas transportation company MGTC in Myanmar, both as shareholder and as operator. In a context of continuing deterioration of the human rights situation in Myanmar, this decision resulted from the assessment that TotalEnergies was no longer able to make a sufficiently positive contribution in the country, and was not able to meet the expectations of stakeholders who were asking to stop the revenues going to the Burmese state through the state-owned company MOGE from the Yadana field production.

4. Draft Convention on the effect of judicial sales of vessels approved by UNCITRAL

The United Nations Commission on International Trade Law approved on 30 June 2022 a draft convention on the effect of judicial sales. The Draft Convention will now be put to the United Nations General Assembly to consider signature. The Draft Convention originated from a long-standing project of the Comité Maritime International commenced in 2007 and eventually known as the ‘Beijing Draft’ which was adopted by the CMI in its 2014 Hamburg Conference. In 2018, the Draft Convention was accepted by UNCITRAL into its work programme.

5. Cyprus gas discoveries boosted by EU’s shift from Russia supplies

“Europe is a good potential customer for Cypriot gas as the EU has confirmed that natural gas will remain a bridge fuel up to 2049 as part of the green transition so companies now have the comfort of being able to secure long-term contracts,” Natasa Pilides said in an interview in Nicosia. There is also “the EU’s intention to move away from Russia regardless of when the war in Ukraine finishes,” she said.

6. Furetank adds to dual-fuel product tanker orderbook

Swedish shipowner Furetank has placed an order at China Merchants Jinling Shipyard in Yangzhou for a new dual-fuel product tanker that will become the eleventh vessel in the company’s Vinga-class series. The 17,999 dwt newbuild will run on liquefied natural gas (LNG) and liquefied biogas (LBG) and sport a battery hybrid solution as well as several features that reduce fuel and energy consumption, the company said.

7. ADNOC Logistics & Services buys compatriot OSV player Zakher Marine

ADNOC Logistics & Services, the shipping and maritime logistics arm of the state-owned Abu Dhabi National Oil Company (ADNOC), has acquired offshore support vessel owner and operator Zakher Marine International (ZMI) for an undisclosed sum. The acquisition is expected to broaden ADNOC L&S’ services to include critical support assets for offshore operations, including ZMI’s maiden offshore renewables project in China, and expand the company’s footprint in the region.

8. Worley to work on Australian offshore wind project

Australian offshore engineering company Worley has been awarded a framework agreement by Edinburgh-based Flotation Energy for the development of a 1.5 GW offshore wind farm off the coast of Gippsland, Australia.Worley said it is providing pre-feasibility study services for the project that could produce enough power for some 1m homes and businesses across Victoria and sets out to be one of Australia’s first offshore wind sites.

9. Rauma and Enersense ink agreement on outfitting work for TT-Line ferries

Enersense International is a provider of zero-emissions energy systems. The contract covers technical areas of the ferries ordered by operator TT-Line Co, such as steel and piping installations in the main engineroom and LNG tank area, and insulation work.

10. Ships that ‘scrub’ emissions earn twice as much as those that don’t

Since the regulation’s enforcement date on Jan. 1, 2020, ships have had to use more expensive fuel with 0.5% sulfur content known as very low sulfur fuel oil (VLSFO), or fuels with even lower sulfur content. The exception: Ships can install exhaust gas scrubbers at a cost of around $2 million-$3 million per ship. Scrubber-equipped vessels can continue to burn the cheaper fuel used pre-2020 that has 3.5% sulfur content, known as high sulfur fuel oil (HSFO).


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