Overseas Shipholding Group’s Post

Middle Eastern LNG producer QatarEnergy has signed a contract with China State Shipbuilding Corporation (CSSC) for the construction of 18 supersize LNG carriers, Splash 24/7 reports.   The newbuilds under the deal, which the Chinese shipbuilding conglomerate described as the world’s largest single shipbuilding order, will be delivered by Hudong-Zhonghua Shipbuilding.   The so-called Q-Max units will have a capacity of 271,000 cu m, making them the largest-ever ships ordered in this sector. Qatar already has 14 Q-Max vessels on a long-term charter with a carrying capacity of around 266,000 cu m supplying Far Eastern, European and various other markets.   Qatar’s LNG shipbuilding programme is the largest of its kind in the history of this sector, with 104 conventional newbuilds already firmed up under long-term charter contracts with multiple shipowners. The ships will support Qatar’s expanded LNG production capacity from the country’s North Field and Golden Pass in the US while meeting long-term fleet replacement requirements.    The latest series of Q-Maxes will cost about $6bn in total, QatarEnergy said.

Positive progress on oil tanker shipping safety in jeopardy for the remainder of the 2020s? The number of oil spills and the quantity of oil spilled from tankers has fallen substantially in recent decades, but the 2020s could see a break of that trend. However, not all oil spills come from tankers. They can also come from other sites, such as offshore oil rigs and damaged pipelines. The world’s largest (and most well-known) event was Deepwater Horizon in the Gulf of Mexico in 2010. An explosion in a drilling rig caused this disaster. The U.S. Government estimates that 4.9 million barrels of oil were released (equivalent to around 700,000 tonnes).

Oil Recovery Project

An escort tug stopping an oil tanker in an “arrest drill”. The tug operators have worked out a special manuever to stop an out-of-control tanker when it is moving at over 5 knots - rather than use direct propeller power to slow and stop the tanker, the tug turns perpendicular to the tanker’s course. When the tug has turned 90 degrees to the motion of the ship, the water resistance of the skeg - the flat fin on the bottom of the tug - produces enormous stopping power. This allows the tug to slow the tanker from full speed to a dead stop within the length of the tanker. This drawing is a part of a project aimed at showcasing the measures for preventing and responding to oil spills, which were developed following the devastating 1989 Exxon Valdez disaster. The project was initiated by the Prince William Sound Regional Citizens’ Advisory Council, which is responsible for overseeing oil industry activities in the vicinity of the Valdez, Alaska pipeline terminal. EDIT: Some professinals have noted that stopping the ship within its own length is unrealistic, and I have confirmed with the operators that it takes more time and distance that that to stop the ship. I stand corrected. courtesy

The newbuilding market is in full swing it seems, as more and more contracting is being reported. In its latest weekly reports, shipbroker Allied said that “apart from the confirmation of CMA CGM’s order for 8 methanol-DF vessels (reported week 25) and the onset of phase 2 of Qatar Energy’s gas carrier ordering (17 pre-reserved LNG slots at HHI for $3.9bn), contracting was focused within the dry bulk sector. Tsuneishi has received orders for 2 methanol DF Kamsarmax vessels for around US$ 46m p/v on behalf of Diana Shipping, while it has been rumoured that Safe Bulkers has recently placed a similar order for US$ 45m p/v, with all four vessels to be constructed at the Zhoushan yard. Tsuneishi remains an important builder for this size segment and has around 25 vessels Kamsarmax vessels on order, with an increasing focus on methanol-fuelled vessels, such as its Mitsui and J Lauritzen orders earlier this year. In general, Kamsarmax/Panamax contracting has remained at a steady level – around 40 vessels in Q3 – taking the orderbook to roughly 10% of the active fleet and a similar level of Supra/ Ultramax contracting over the same period. In the tanker sector, despite a quiet last week, contracting across all sizes has been similar to the total dry bulk contracting in Q3, with MR and Suezmax contracting leading the way”. https://lnkd.in/e543X68x

𝐓𝐫𝐚𝐧𝐬 𝐌𝐨𝐮𝐧𝐭𝐚𝐢𝐧 𝐩𝐢𝐩𝐞𝐥𝐢𝐧𝐞 (𝐓𝐌𝐗) - 𝐅𝐢𝐫𝐬𝐭 𝐂𝐚𝐫𝐠𝐨 𝐋𝐨𝐚𝐝𝐢𝐧𝐠 Crude oil tanker Dubai Angel on Monday moored at the Westridge Marine Terminal Vancouver. Preparing to load the first cargo of Canadian crude oil from the brand new recently expanded Trans Mountain pipeline. Marking first. Chartered by Canadian oil producer Suncor Energy, the vessel was expected to load about 550,000 barrels of Access Western Blend (AWB) for delivery to China. Expanded TMX, which will ship an additional 590,000 barrels per day (bpd) to Canada’s Pacific coast from Alberta, began commercial operations this month after years of regulatory delays and construction setbacks. The expansion gives Canadian producers more access to U.S. West Coast and Asian markets. Tightening supply of heavy crude has made Canadian oil more attractive to buyers around the world. Suncor earlier this month said it was leasing Aframax vessels in the Pacific and selling direct to customers, seeking to maximize profits on oil being shipped on TMX. #energysecurity #oil #cdnpoli #energytransition

The port of Houston is one of the busiests in the world, being home to a vast number of refineries and petrochemical complexes. This, together with climate and geopolitical issues that are affecting maritime trade, can result in longer vessel turnaround times and significantly increase demurrage costs for oil & gas charterers that are operating at the port. We did a recent study using a sample of Houston Tanker Statement of Facts, and found that: - A Tanker spends an average of 3 days to berth, load & discharge at Port. Houston. - On average, two of these days are spent before berthing. -The months with highest appointed congestion were June, August and October Download the report and use these insights to improve charter party contracting, benchmark performance across your maritime network, and ultimately reduce laytime and demurrage costs. https://lnkd.in/dNe_-CBy #voyagerportal #tankers #maritime #porthouston #bulkshipping

#Qatar's Signs World's Biggest Single Shipbuilding order in #China QatarEnergy has just inked a monumental deal with CSSC, heralding the world's largest single shipbuilding order in the liquefied natural gas (LNG) sector! This historic contract entails the construction of 18 state-of-the-art LNG carriers, set to redefine industry standards and reinforce Qatar's position as a global #LNG powerhouse. These ground breaking vessels, dubbed Q-Max units, boast an unprecedented capacity of 271,000 cubic meters, making them the largest-ever ships commissioned in this sector. Their sheer size and efficiency promise to revolutionize LNG transportation, enabling Qatar to meet growing global demand with unparalleled reliability and scale. Hudong-Zhonghua Shipbuilding, a subsidiary of CSSC, will spearhead the construction efforts, leveraging innovative design concepts that have garnered widespread acclaim from leading class societies. Notably, these record-breaking vessels are poised to deliver LNG to an extensive array of markets, fueling economies and communities worldwide. Qatar's ambitious LNG shipbuilding program represents a historic milestone, with 104 conventional newbuilds already slated for long-term charter contracts. This strategic initiative not only bolsters Qatar's capacity to meet rising LNG demand but also underscores its commitment to sustainability and innovation in the maritime industry. #qatarenergy #cssc #shipbuilding #innovation #sustainability #globalshipping #spotship https://lnkd.in/ea4cPrdE

More regulations for offshore oil drillers proposed.

An exodus of oil rigs means the North Sea market is expected to “tighten considerably” over the next two years, according to new analysis. #NorthSea #Oilgas