Connect with us

Maritime

ExxonMobil Starts New Antwerp Unit to Produce Marine Gasoil, Diesel

Published

on

PIB: Minister to revoke licences of oil firms over neglect of host communities

…As Better TCE Rates Push Dorian LPG’s Revenue Up***

ExxonMobil has started operations of a new unit at its Antwerp refinery in Belgium to convert heavy, higher-sulfur residual oils into high-value transportation fuels such as marine gasoil and diesel.

As explained, the new 50,000 barrel-per-day unit expands the refinery’s capacity to meet demand for cleaner transportation fuels throughout northwest Europe.

The company’s investment in the new coker will also help meet anticipated demand for lower-sulfur fuel oil to comply with new standards to be implemented by the International Maritime Organization in 2020.

Our investment in Antwerp strengthens ExxonMobil’s competitiveness and position (…) by expanding the refinery’s product slate and increasing our ability to deliver larger quantities of cleaner, higher-value fuels to European customers,” Bryan W. Milton, president of ExxonMobil Fuels & Lubricants Company, commented.

Other projects completed in Antwerp include a 130 megawatt cogeneration unit, which leads to reduced greenhouse gas emissions, and a diesel hydrotreater, which has increased the refinery’s production capacity for low-sulfur diesel to enable modern diesel engines to achieve lower emissions standards.

In addition, the company is currently constructing a new hydrocracker in Rotterdam that will upgrade heavier hydrocarbon byproducts into cleaner, higher-value finished products such as EHCTM Group II base stocks and ultra-low sulfur diesel.

ExxonMobil is also considering an expansion project at its Fawley refinery in the United Kingdom that would include a new hydrotreater unit and associated hydrogen plant to increase domestic diesel production and reduce reliance on imported fuel.

In the meantime, gas carrier owner and operator Dorian LPG has witnessed an increase in revenues in the second quarter of fiscal year 2018, driven by an improvement in time charter equivalent (TCE) rates.

The company said that its revenues for the quarter ended September 30 reached USD 40.8 million, rising by 17.5 percent from USD 34.7 million reported in the same period a year earlier. The increase is primarily attributable to a rise in average TCE rates and fleet utilization.

Namely, TCE rate for the company’s fleet increased to USD 20,973 for the quarter from USD 18,015 earned in the same period in 2017.

Dorian LPG also managed to shrink its net loss to USD 8.2 million, compared to a net loss of USD 11.9 million reported a year earlier.

“Demand for VLGCs increased during our fiscal second quarter driven by increasing export volumes and end-user demand. This improvement is reflected in higher fleet utilization during the quarter and improvement in achieved TCE rates,” John C. Hadjipateras, Chairman, President and Chief Executive Officer, said.

“While additional VLGCs scheduled for delivery in 2019 negatively impacts supply, we believe the market has become more balanced… We believe that we are well positioned to deliver strong cash flows throughout the market cycle as a result of our low leverage, no near-term debt maturities and a best-in-class fleet.”

World Maritime News

Latest News

MWUN Floors Intel’s, As Court Orders Foreign Giant to Pay 599 Workers’ Gratuity

Published

on

MWUN Floors Intel's, As Court Orders Foreign Giant to Pay 599 Workers' Gratuity

In a significant triumph for the Maritime Workers Union of Nigeria (MWUN), a court has ruled in favour of the union, ordering INTELS to pay extra gratuity to 599 workers who were affected by a redundancy exercise. 

The ruling comes after a prolonged legal battle, which began when INTELS initially paid redundancy extra gratuity to its 34 permanent staff but refused to negotiate with the union to pay the same amount to the contract staff.

According to a statement released by the union’s Head of Media, Comrade John Kennedy Ikemefuna, on Monday, May 20, 2024, the court ruled that INTELS and AMS must negotiate with the union and pay the extra gratuity to all 599 affected workers, just as they did with their permanent staff. 

The court also declared that the Industrial Arbitration Panel (IAP) was wrong to unilaterally determine the amount workers should be paid without negotiation, which led to the trade dispute.

This victory marks a significant milestone for the Maritime Workers Union, which has been fighting tirelessly for the rights of its members.

 The union has consistently demanded that INTELS negotiate with them to pay the extra gratuity to all affected workers, and the court’s ruling has vindicated their stance.

With this ruling, the union has secured a major win for the 599 workers who were initially denied their rightful entitlement. 

The union’s determination and perseverance have paid off, and they will continue to fight for the rights and welfare of their members.

Continue Reading

Latest News

AKTORAS: Bonny Gas Transport Limited Charts Sustainable Course with Launch Of Eco-Friendly Vessel

Published

on

AKTORAS: Bonny Gas Transport Limited Charts Sustainable Course with Launch Of Eco-Friendly Vessel

… Nigeria berths state-of-the-art ship, equipped with cutting-edge technology that reduces emissions and increases efficiency

Bonny Gas Transport Limited (BGT), a subsidiary of Nigeria LNG Limited (NLNG), has taken a significant step towards a sustainable future with the charter of a new eco-friendly vessel, AKTORAS. This state-of-the-art ship is equipped with cutting-edge technology that reduces emissions and increases efficiency, aligning with BGT’s commitment to decarbonization.

The vessel was officially launched at a ceremony at the Hyundai Samho Heavy Industries shipyard in South Korea, where Mrs Olu Verheijen, Special Adviser to the Nigerian President on Energy, christened the vessel as the Sponsor Lady and Godmother.

The event was graced by dignitaries, including Ambassador Ferdinard Nwonye, the Nigerian Head of Mission in South Korea; Dr. Philip Mshelbila, BGT’s Executive Vice President and NLNG’s Managing Director and Chief Executive Officer; and Mr. Andy Odeh, NLNG’s General Manager, External Relations and Sustainable Development.

Dr. Philip Mshelbila hailed the charter of AKTORAS as a transformative stride towards decarbonization and a sustainable future. “The charter of this newbuild modern tonnage to BGT, on a Bareboat Charter basis, represents a strategic move towards diversifying our shipping portfolio.

This vessel signifies a new era of greater efficiency and sustainability for BGT’s fleet. The enhanced fleet capacity will support NLNG as it continues to harness Nigeria’s abundant natural gas resources, reposition itself in the Energy Transition era, and prepare for the future, which includes the expansion of its production capacity in furtherance of the commitment to meet the growing demand for clean and sustainable energy solutions on a global scale.”

Mrs Olu Verheijen emphasized the vessel’s significance, stating, “This ceremony symbolizes the unwavering commitment of Bonny Gas Transport Limited and its parent company, Nigeria LNG Limited, to adapt and thrive in the ever-evolving global energy landscape. Their dedication to future-proofing their business resonates deeply with me, recognizing it as a crucial strategy to maintain relevance and competitiveness in the dynamic LNG market.”

The AKTORAS vessel is a 174,000 m3 capacity class LNG carrier, with a length of 299.6 meters, breadth (moulded) of 46.40 meters, and deadweight of 81,194 tons. It is equipped with MEGA propulsion systems that reduce emissions and increase efficiency, making it an eco-friendly addition to BGT’s fleet.

The vessel will be managed by NLNG Shipping and Marine Services Limited (NSML) and will play a crucial role in supporting NLNG’s expansion plans and commitment to meeting the growing demand for clean and sustainable energy solutions globally.

This development marks a significant milestone in BGT’s and NLNG’s relentless march towards a sustainable and low-carbon emission future, demonstrating their dedication to future-proofing their business and maintaining relevance and competitiveness in the dynamic LNG market. As the energy landscape continues to evolve, BGT and NLNG are poised to lead the charge towards a more sustainable future.

Continue Reading

Latest News

IMO: NIMASA Celebrates Nigerian Women Stakeholders, to Mark Women In Maritime Day

Published

on

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola has commended the contributions of Nigerian women to the development of the maritime sector, even as the agency Director of Financial Services, Mrs. Olamide Odusanya thumbed up women’s pivotal roles in developmental sustainability.

The NIMASA Director General gave the commendation, during the 2024 commemoration of the International Day for Women in Maritime in Lagos, 

“Let me seize this opportunity to recognize and applaud the incredible achievements of women in maritime. From seafarers and ship captains to engineers”, the Director General, Dr. Dayo Mobereola who was represented by the Agency’s Executive Director of Maritime Labour and Cabotage Services, Jibril Abba, informed the audience, comprising the various women’s groups in the maritime industry.

L-R: Hon. Olaitan Williams, President of Ocean Ambassadors Foundation; Adaora Nwonu, WIMOWCA Nigeria ExCo; Nneka Obianyor, WIMOWCA Nigeria Secretary General; Mrs. Rollens MacFoy, President of WIMA-Nigeria; Barr. Oritsematosan Edodo-Emore, President of WIMOWCA Nigeria; Jibril Abba, Executive Director of Maritime Labour and Cabotage Services, representing the DG of NIMASA; Princess Margaret Inam of WILAT; Dr Odunayo Ani, President of WISTA Nigeria; Juliana Saka of Nigeria Shippers Council, Vivian Chimezie, DG of the Nigerian Chamber of Shipping; Obiageli Benjamin, Assistant Secretary of WIMA Nigeria; and Jennifer Eneh, DD Cabotage Registration NIMASA, cutting the cake during NIMASA’s celebration of the International Day for Women in Maritime at NIMASA Maritime House, Apapa, Lagos.

Speaking on the theme: “Safe Horizons: Women Shaping the Future of Maritime Safety” the DG told his happy audience which included the Women’s International Shipping & Trading Association (WISTA), Women in Maritime (WIMA), Women in Logistics and Transport (WILAT), and Women in Maritime West and Central Africa (WIMOWCA), among others, to stand firm, speak with one voice, because the agency would support their aspirations.

Dr. Mobereola emphasized that the Agency appreciates its contributions to the overall development of the Nigerian maritime industry.

“From seafarers and ship captains to engineers and port operators, as well as maritime professionals and trailblazers, women have played a pivotal role in shaping the maritime industry and driving innovation and progress”, the NIMASA Boss observed, praising their dedication and resilience.

“Their dedication, resilience, and expertise have enriched our industry and inspired a future generation of women to pursue careers in maritime”. He said.

L-R: Nneka Obianyor, Special Adviser (Technical) to the Director-General; Rakiya Lamai, Head of SERVICOM; Chris Amakulo, Director of Shipping Development; Gloria Anyasodo, Coordinator of the Western Zone; Jibril Abba, Executive Director of Maritime Labour and Cabotage Services, representing the Director-General of NIMASA; Dr. Odunayo Ani, Head of Internal Audit; Jide Owonubi, Head of Reform Coordination and Strategic Management; Navy Commander Salihu Ibrahim, representing the Maritime Guard Commander; and Olamide Odusanya, Director of Financial Services, were present during NIMASA’s commemoration of the International Day for Women in Maritime.

“To all the women in maritime: Your contributions are vital, your voices are heard, and your achievements inspire us all. Together, we can harness the nation’s blue economy to build a more sustainable and prosperous maritime industry that benefits us all. Thank you for your dedication, passion, and commitment to a more inclusive maritime community”. Mobereola added. 

Earlier in her presentation, Mrs Olamide Odusanya, the Director of Financial Services at NIMASA, appreciated the IMO for creating an inclusive and supportive environment to recognize women in maritime, in line with the provisions of Sustainable Development Goal 5, which is Gender Equality.

Her words:  “It is clear the pivotal role of women in the maritime industry. Closing the gender gap, which is SDG 5- Gender Equality, has been an internal quest of women folks since the Industrial Revolution, and one significant achievement has been made; we still have a long way towards achieving relative parity.

President of WIMOWCA, Oritsematosan Edodo-Emore (4th from right), is flanked by other members after their inauguration during NIMASA’s commemoration of the International Day for Women in Maritime, which recently took place in Lagos.

A paper presented by Mrs. Gloria Anyasodo on “Emerging Trends: Shaping the Future of Maritime Safety and Opportunities for Women” emphasized that safety transcends gender. Therefore, women must cultivate competence through proper education, expertise, and mutual support to uplift one another.

Dr. Odunayo Ani the President of the Women International Shipping and Trading Association (WISTA) Nigeria,  Mrs Rollens MacFoy, President of African Women in Maritime, Nigeria chapter, Princess Margaret Inam of Women in Logistics and Transport (WiLAT), Barrister Oritsematosan Edodo-Emore the National President of Women in Maritime of West and Central Africa (WIMOWCA) and Hon. Olaitan Williams, President Ocean Ambassadors Foundation all delivered goodwill messages at the event.

The event culminated with the official inauguration of the WIMOWCA Nigeria chapter by the DG NIMASA.

Continue Reading

Advertisement

Editor’s Pick

Politics