Tuesday, April 7, 2020

Braemar News

Coronavirus hits Supertanker Rates

© Trueffelpix/AdobeStock

Freight rates for supertankers on the Mideast Gulf and U.S. Gulf routes to Asia have fallen to their lowest since mid-September as the coronavirus outbreak hit Chinese oil demand, ship brokers told Reuters.China's Sinopec Corp, Asia's largest refiner, and so-called "teapot" independent refineries have reined in operations in the face of plunging consumption."The market has gone back to what it was before the COSCO sanctions came in…

BSP Contracts AqualisBraemar

Image: Brunei Shell Petroleum Company Sdn Bhd

Oil & natural gas company Brunei Shell Petroleum Company Sdn Bhd (BSP) has awarded AqualisBraemar a frame agreement to conduct rig inspection services for the operator.The agreement is valid for three years with an option to extend the contract for additional periods of three times one year, said the Norway-based global company that provides, through its subsidiaries and associates…

Newbuild Rescue Vessel Bound for Breagh Field Deployment

Celebrating the naming of Forties Sentinel are (left to right) Rory Deans, chief executive of Sentinel Marine, Ylva Tuft – the ship’s godmother – and Mervyn Williams, supply chain manager for INEOS Breagh. (Photo: Sentinel Marine)

A new multi-role emergency response and rescue vessel (ERRV) built by Aberdeen-based Sentinel Martine as part of a £110 million ($145 million) investment has been deployed to operations in the southern North Sea. Forties Sentinel was officially named at a ceremony in Great Yarmouth. Forties Sentinel has been contracted to INEOS Breagh to provide support for the firm’s production facilities in the Breagh gas field.

Increase Maintenance to Prevent Engine Room Fires - Braemar

Photo Courtesy Braemar SA

BraemarSA has warned that a lack of maintenance has led to a significant increase in engine room fires according to its latest Asia Market Briefing. Analysing the trends report, its author, Graeme Temple, Far East Regional Director at BraemarSA, said: “Engine room fires remain all too common a problem, and during the Summer we saw a dramatic increase. Since attending…

Texas LNG’s Brownsville Project Progressing

Artist impression depicting Texas LNG’s planned liquefaction facilities. (Image courtesy of Texas LNG Brownsville LLC)

Texas LNG appoints BNP Paribas as financial adviser for Brownsville LNG project, progresses FERC pre-filing process and completes over 60 percent of front end engineering and Design for facility. Texas LNG Brownsville LLC announced that BNP Paribas has been appointed as financial adviser for the Brownsville project. BNP Paribas will assist Texas LNG in the raising of equity and debt financing for the total capital requirements of the Project…

Texas LNG Continues Progress in Regulatory Process

Texas LNG Brownsville LLC announced that on May 14, 2015, Resource Reports #1 and #10 were submitted to the Federal Energy Regulatory Commission (FERC) in accordance with the FERC NEPA Pre-fling process schedule for the proposed liquefied natural gas (LNG) export facility in Brownsville, Texas. Resource Report #1 – General Project Description - provides a detailed overview of Project facilities including plot plans, schedules, and required permits.

Braemar Adjusting Appoints Reg. M.D.

Ian McInroy as Regional Managing Director of Europe & West Africa,

The Board of Braemar Adjusting is delighted to announce the appointment of Ian McInroy as Regional Managing Director of Europe & West Africa, with effect from 1st July 2015. It follows the decision by Geoff Thomas to step down in his current position as the London MD after 5 years. Geoff will remain a Director with Braemar Adjusting continuing to manage current and future casework and supporting Ian in the continued development of the London office.

Braemar Named Engineers for Brownsville LNG Project

Sheila McClain (Photo: Braemar)

Braemar Engineering, the marine and LNG technical consultancy arm of the Braemar Shipping Services PLC group, has been appointed as Owner’s Engineers by Texas LNG Brownsville LLC (Texas LNG) for the proposed Brownsville LNG project. The project will be constructed in a deepwater frontage site along the Port of Brownsville shipping channel, South Texas, and is anticipated to export more than 2 million metric tons per annum (MTPA) of LNG…

Long Range Product Tanker Rates Keep Gains

Long-range clean tanker rates remained firm this week although a likely slowdown in bookings was expected to cap the pace of gains in coming days. Larger Long-Range 2 or LR2, 75,000 tonne shipments on the Middle East Gulf to Japan route were at W114.72 or $20,445 a day on Thursday, the latest Baltic Exchange data showed. That compared with W114.72 or $20,012 a day on Wednesday and W114.95 or $20,386 a day last Thursday.

Braemar to Buy Shipbroker peer ACM; M&A Activity Heats Up

Braemar chief executive James Kidwell.

Braemar Shipping Services will buy fellow British shipbroker ACM Shipping Group in the latest industry shake-up as players look to grow after years of freight market turmoil. In the biggest deal to date, Braemar, whose businesses include ship broking, said on Tuesday it had agreed to acquire the entire share capital of ACM. "What this transaction is about is growing our shipbroking presence collectively," said Braemar chief executive James Kidwell.

Braemar Engineering in Tie-up with Nigeria LNG

Photo courtesy of Braemar

Braemar Engineering  announced that it has been appointed to act as Shipping Consultants to Bonny Gas Transport, the wholly owned subsidiary of Nigeria LNG (NLNG) responsible for the transport of NLNG’s output over the Atlantic to Europe and the Americas. Braemar Engineering will oversee the building of six LNG carriers, from design to delivery, with completion of the project anticipated at the end of 2016.