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Above Board

According to Douglas-Westwood energy consultants, the FLNG (Floating Liquefied Natural Gas facility) market is expected to grow to $58.3 billion in capital investments throughout the next seven years. Liquefaction infrastructure is projected to make... Full story

 

Above Board

Despite the decline in the price of crude oil over the past year, the subsea hardware market is expected to grow by 27 percent to 2019. Subsea tree installations (a subsea tree monitors and controls the production of a subsea well) numbered 350 last... Full story

 

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The Wärtsilä 31 engine has been recognized as the most efficient 4-stroke diesel engine in the world by Guinness World Records. The recently-launched product boasts diesel consumption as low as 165 gallons per kWh. The Wärtsilä 31 engine can be... Full story

 

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The marine propulsion market is expected to grow substantially as demand for financially-sound and dependable engines increases. Grand View Research, a US-based forecaster, estimates expenditures will top $10.95 billion by 2020. Deadly Disasters and... Full story

 

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Africa is expected to dominate deepwater capital expenditure growth over the next five-year period. Along with North America and Latin America, the top frontrunners are projected to spend $173 billion, according to energy market analysts Douglas-West... Full story

 

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The jury is still out on the use of LNG, at least as far as the European Commission is concerned, although the outlook is more positive than negative. A preliminary study carried out by the Commission’s Directorate-General for Mobility and... Full story

 

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In an effort to mitigate mis-declared and unsafe container exports, new IMO container weight verification requirements will become mandatory next year. After the adoption in late 2014 by the IMO’s Maritime Safety Committee on new SOLAS... Full story

 

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Mega alliances are part of the reason the container shipping sector could see a rise in profitability in 2015 according to Drewry Shipping Consultants Ltd. Slow steaming and the continuation of relatively low fuel costs could also provide smoother... Full story

 

Above Board

Energy analysts Douglas-Westwood are predicting capital expenditures globally for LNG facilities will be approximately $228 billion during the period 2013-2017, a huge uptick of close to 110 percent compared to the previous five-year span. This is... Full story

 

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The IMO’s Marine Protection and Environment Committee (MEPC) recently approved a draft Polar Code that applies to ships plying Arctic and Antarctic waters. The Code includes aspects such as design, construction, search-and-rescue and environmental... Full story

 

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According to Clarksons, over the next decade, LNG tankers, cruise ships (together at 20 percent) and offshore vessels and mobile assets (estimated at 30 percent) will drive capital investments in the shipping industry to the tune of $1.4 trillion.... Full story

 

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New IMO requirements are in the offing for those who work aboard ships in enclosed spaces. As of January 1, 2015, SOLAS Chapter III, regulation 19 will come into force; at an interval of at least once every two months, crew will be required to run... Full story

 

Above Board

LNG shipbuilding activities in China are expected to jump between now and 2020. In fact, the country is looking to obtain shipbuilding contracts over the next five to six years in this sector to the tune of about $10 billion, a move which, it is...

 

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A new collaborative study in Europe is underway with DNV GL and LNG market stakeholders working on behalf of E&P exploration and production companies to research and assess the risks of an accidental LNG release in regard to small-scale LNG bunkering... Full story

 

Above Board

NATO has decided to continue with the Ocean Shield counter-piracy initiative for at least two more years in the Horn of Africa and across the Indian Ocean. The collective might of NATO and international naval forces has helped deter piracy and... Full story

 

Above Board

Over the next four years, the demand for offshore maintenance, modifications and operations services is forecast to increase 30 percent due to surging oil prices, increasing offshore development and declining infrastructure. Deadly Disasters and... Full story

 

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Virtual video medical assistance for seafarers is now a reality. Globecomm Maritime, a communications company based in New Jersey, has partnered with Future Care, Inc, to offer a virtual ER set up which also integrates with Globecomm’s Access Chat... Full story

 

Above Board

The tightening of capital belts in the offshore oil exploration industry is being felt throughout the world’s oilrig fleet. Reportedly, rig rates may drop by nearly 15 percent in some industry segments, despite a small uptake in oil and gas... Full story

 

Above Board

Earlier this year, the IMO’s Ship Design and Construction sub-committee met to discuss drafting a new SOLAS chapter that will outline various safety measures regarding the safety of ships that operate in polar waters. It is set to be reviewed by... Full story

 

Above Board

Heavy investments in Britain’s North Sea oil and gas industry continue amid worries that recent output declines have slowed the flow of economic stability and growth. Citing high project costs as a key factor despite high spending last year,... Full story

 

Above Board

The threat of a dry bulk market depression has been forecast as the number of newbuilds in the world fleet are expected to outweigh market demand over the next three years. While the current fleet remains young and agile, larger, more... Full story

 

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