• 2020 January 2 14:19

    GEV announces extension of shipyard LoI & project update

    Global  Energy  Ventures  Ltd  (ASX: GEV,  the Company),  the  leading  developer  of  global  integrated  marine compressed  natural  gas  (CNG)  projects, announced an  extension of our  a Letter  of  Intent  (LOI)  with Yantai CIMC  Raffles  Offshore,  Ltd  (‘CIMC  Raffles’)  to  build  the CNG Optimum  200 ships. The  extension  is  for  six months through to 30 June2020.The LOI is based ona firm order for four (4) 200MMscf Compressed Natural Gas (CNG) shipswith the option for GEV to order up to an additional four (4) ships. The parties have executed theLOI, with the   intention   of   entering   a   Shipbuilding   Engineering,   Procurement   &   Construction(EPC)   contract, employing GEV’s CNG Optimum design, GEV said in its press release.

    Key highlights:

    • Six  month  extension  to  the Letter  of  Intent  (LOI)  with  Yantai  CIMC  Raffles  Offshore  Limited  (CIMC Raffles) to build the CNG Optimum 200MMscf ship.
    • No  change  to  the contract  price  range  of  USD  135-140  million  per  shipor  delivery  schedule  of  30 months for the first ship.
    • GEV and CIMC Raffles continue towork towards a binding shipbuildingEngineering, Procurement &  Construction  (EPC)  contract,  employing  GEV’s  CNG  Optimum  design,  for  four  (4)  firm  CNG Optimum ships, with the option for GEV to order up to an addition four (4) ships.
    • GEV  and  CIMC  Raffles  Group  also  jointly  working  on  process  engineering  and  areas  of  detailed design for the entire CNG supply chain as part of the recently announced Strategic Alliance.
    • CNG Commercialisation Study now underway for an in-development offshore field in the Pre-salt Brazil, with scheduled completion in March 2020.
    • Due Diligence continues to define a proposal for anew CNG export project from the US Gulf Coast to Mexico and other markets in the Caribbean.

    Executive  Chairman  and  CEO  Maurice  Brand commented: “GEV  is  delighted  to  be  working with  theCIMC  Raffles group of companies as we progress a number of CNG project opportunities. The extension of the LOI with no change to the terms is a strong endorsement of the quality of our projects and progress being made by our team.”

    GEV  would  also  like  to thank  all  shareholders  and  advisors  for  their  support  of  the  Company  during  2019. Management remainconfident in the commercialisation of the CNG Optimum ship together with our “pipe to pipe” gas  transport model which continues  to  gain  momentum  in  the  Brazil  offshore  gas  market  with  the  first  CNG Commercialisation  Study  due  for  completion  in  the  March  quarter 2020.  Our  due  diligence  on  the  recently announced US Gulf Coast offshore export facility is nearing completion and we expect to make an update early in the current quarter.”

    CIMC  Raffles  has  a  successful  track  record  of  delivering  in  excess  of  USD  6  Billion  in  EPC  contracts  since  2012, experience  with  CNG  systems,  and  moving  forward,  their  scale  of  operations  with  three  yards  will  support  our growth aspirations of multiple CNG projects requiring shipbuilding contracts.




2021 January 22

18:00 Rosmorport's icebreaker Mudyug starts providing icebreaking assistance in the Baltic Sea
17:36 Andrey Lavrishchev appointed as head of Federal Marine and River Transport Agency
17:13 Aleksandr Poshivay appointed as Deputy Minister of Transport of the Russian Federation
16:34 Rosmorport starts providing geodesic and hydrographic services in the water area of Petropavlovsk-Kamchatsky seaport
16:05 APM Terminals Gothenburg offers certified climate impact calculations to customers
15:49 Sredne-Nevsky Shipyard commences outfitting of yet another minesweeper of Project 12700, Pyotr Ilyichov
15:21 Norsepower installs first tiltable Rotor Sails on Sea-Cargo Ro-Ro
14:58 Container terminal in Świnoujście is in line with sustainable development vision
14:32 Cargo turnover of NCSP Group in 11M’2020 totaled 101.4 million tons, down 21.2% YoY
14:07 Petersburg Oil Terminal in 2020 increased shipments of oil products by 16.6%
14:03 Jan De Nul adds two new vessels to its fleet
13:45 DHT Holdings announces acquisition of two VLCCs
13:29 Iridium partner MetOcean Telematics provides SaR buoys to the USCG
12:52 Havyard develops hydrogen zero-emission vessels in new segment
12:11 THE Alliance announces Transatlantic Service Network adjustments for 2021
11:30 Rosmorport successfully completed formation of Ultramar terminal’s water area
11:06 Training ships Nadezhda and Professor Khlyustin welcome first cadets of 2021 season
11:05 Inmarsat passes 10,000-vessel fleet xpress installation milestone as data demand accelerates maritime digitalisation
10:39 Scottish Ports Group welcomes Scottish Goverment's establishment of 'Greenports'
10:21 Throughput of Kaliningrad port in 2020 fell by 6% Y-o-Y
10:02 MABUX: Bunker market this morning, Jan 22, 2021
09:48 Bunker market sees mixed price movements at the Port of Saint-Petersburg, Russia (graph)
09:30 Crude oil prices decrease amid aggravation of the epidemiological situation
09:12 Baltic Dry Index as of January 21

2021 January 21

18:07 Port of Houston awarded new start for Ship Channel
17:50 Throughput of port Vyborg in 2020 fell by 46% Y-o-Y
17:27 Rolls-Royce secures research contract with US Navy to develop innovative debris detection technology
17:03 Galeon Yachts announce new outbourd model
16:42 Throughput of port Vysotsk in 2020 fell by 4% Y-o-Y
16:32 Jan De Nul Group is the first dredging company to carry out 100% sustainable beach replenishments in Belgium
16:23 Yaskawa Environmental Energy develops a permanent magnet propulsion system for superyachts
16:09 MABUX Bunker Weekly Outlook, as of Jan 21, 2021
16:00 Throughput of port Primorsk in 2020 fell by 19% Y-o-Y
15:36 Bunker market see mixed price movements in the Far East ports of Russia (graph)
15:13 Battle stations for boat-handling systems
14:58 Port of Ust-Luga throughput in 2020 declined by 1% Y-o-Y
14:43 MasterCraft Boat Company launches digital boat show experience to connect with consumers amidst dynamic boat show season
14:22 ABS grants AIP for DSME’s Solid Oxide Fuel Cell technology
14:05 20% global e-commerce growth fast tracks supply chain tech adoption from 5 year plans into 2021 action
13:43 Sovcomflot and Total sign time charter agreement for up to 7 years for a newbuilding 174,000-cbm LNG carrier
13:21 TFG Marine to start bunkering operations from Falmouth in the United Kingdom
13:11 Ocean carriers battle the Covid cargo crunch
12:52 Throughput of Port St. Petersburg in 2020 remained flat, year-on-year
12:36 UECC opening doors to a sustainable future
12:08 Crowley awarded fuel distribution contract for Arctic North Warning System
12:03 FESCO transported first containers with grain from Khabarovsk to China
11:41 Wilhelmsen Ship Management becomes a member of the Sustainable Shipping Initiative
11:24 Russian Crab Company Group reports annual operational results for 2020
11:05 MABUX: Bunker market this morning, Jan 21, 2021
10:36 MSC earns maritime sustainability certificate
10:20 Maritime UK welcomes Associated British Ports to the Diversity in Maritime Charter programme
10:05 New container service connecting Port of Immingham with Bilbao
09:37 Crude oil prices decrease as US resources grow
09:19 Baltic Dry Index as of January 20
09:01 Maersk Tankers sees 28% pool expansion in 2020
08:58 ICTSI Manila completes berth expansion

2021 January 20

18:54 Galeon Yachts announce new outboard model
18:15 CMA CGM announces FAK rates from Red Sea to North Europe & the Mediterranean
17:46 Håkan Agnevall assumes the position of CEO of Wärtsilä on 1 February 2021
17:16 SMM DIGITAL to stream conference programme online free of charge