Wednesday, February 08, 2023
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GPA petchem storage site on a satellite image

Vopak Buys Tank Terminal in Port of Antwerp to Supply Renewable Energy

Published Feb 7, 2023 6:22 PM by The Maritime Executive

Tank farm operator Vopak has reached a deal with energy trading firm Gunvor to take over a storage facility at the Port of Antwerp and turn it into a renewable-energy hub, the two companies announced Monday. The decision marks a substantial step forward on Port of Antwerp's decarbonization journey. Vopak is buying the Gunvor subsidiary Gunvor Petroleum Antwerp, which holds the lease to a large site at the north end of the port. The 260-acre terminal includes a small refinery,...

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US container import projections

U.S. Imports in February Expected to be Lowest in Nearly Three Years

Published Feb 7, 2023 6:11 PM by The Maritime Executive

Import cargo volume at the U.S.’s major container ports is expected to drop to its lowest level in nearly three years during February, according to a new forecast from the National Retail Federation. The trade group for the nation’s retailers is once again lowering its forecast for imports seeing a decline from its already lowered expectations and a significant decline over the surge levels experienced a year ago. Reporting the expectations from retailers the NRF has once again lowered the...

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FMC investigates MSC congestion charge

FMC Orders MSC to Justify Fees as Reform Act Enforcement Increases

Published Feb 7, 2023 5:06 PM by The Maritime Executive

The U.S.’s Federal Maritime Commission continues to put bite into the Shipping Reform Act passed in 2022 which sought to crack down on the fees and unreasonable business practices of the major ocean carriers.  A small complaint by a shipper is spotlighting the enforcement efforts under the act with the FMC issuing a “show cause” order against Mediterranean Shipping Company (MSC) for congestion fees that were charged to the shipper in July 2022. New provisions in the reform act require...

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Helgoland hydrogen bunkering infrastructure

Germany Explores Hydrogen Bunkering from its North Sea Island

Published Feb 7, 2023 4:10 PM by The Maritime Executive

Germany is exploring a unique situation to develop a potential hydrogen bunkering operation serving the shipping industry from islands in the North Sea. A conceptual study is underway exploring linking the supply of green hydrogen to a bunkering operation that would be located on the deep-sea island of Helgoland, which lies 30 miles off the German mainland. The municipality of Helgoland has commissioned Hamburg Port Consulting (HPC), an independent consulting firm within HHLA (Hamburger Hafen und Logistik AG) focusing on...

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Offshore

Anholt wind farm

Denmark Upends Offshore Wind Planning With Permitting Suspension

Denmark is one of the friendliest jurisdictions in the world for offshore wind. It is home to top developers Orsted, Copenhagen Infrastructure Partners and Vattenfall, as well as turbine builder Vestas. Its energy agency is considered a model for European development permitting, and offers a "one-stop-shop" service for all government reviews of future wind sites. However, the department has had to shut down one of its most popular offshore wind application programs because of potential conflicts with EU law, it...

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Shipbuilding

Keppel sells Singapore ship repair yard

Keppel Sells Singapore Ship Repair Business to ST Engineering

The realignment of the ship repair business in Singapore is continuing with the news that  ST Engineering plans to acquire the yard currently operated by Keppel FELS. Keppel had previously announced its plans to refocus its operations away from the offshore sector to execute its strategy to be an integrated business focusing on sustainable urbanization, while ST Engineering will use the site to relocate and modernize its ship repair operations. ST Engineering’s Marine business has acquired the site and assets...

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Environment

Denmark offshore CO2 storage licenses

Denmark Awards First CO2 Storage Licenses Seeking to Build Industry

Denmark selected projects from Total Energies, INEOS E&P, and Wintershall DEA to receive the country’s first full-scale CO2 storage permits for projects in the North Sea. The recommendation from the Ministry of Climate, Energy and Utilities marked the conclusion of the first of an annual tender for licenses for the exploration of full-scale CO2 storage on the Danish continental shelf as the country looks to the development of a new industry that will contribute to meetings its goals to reduce...

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Business

Euronav

Euronav Loses First Arbitration as Frontline and CMB Reject Compromise

The struggle over the future of tanker operator Euronav continues to play out between the boardroom and the courts. The company continues to find itself caught between its two large shareholders, CMB and Frontline, each of which controls approximately a quarter of the shares outstanding and shows no signs of a compromise. Frontline has won the first step in its fight against Euronav after announcing early in January 2023 that it had decided not to proceed with the share exchange...

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