Two sister drillships being built in Hyundai’s shipyard. One drillship was already floating and about to complete equipment commissioning while the second ship was still in dry dock awaiting derrick installation. Hyundai’s mass production line was unlike anything I’ve ever seen . . . Truly incredible! $rig $val $ne $do $tdw
Iranian missiles may not be the greatest threat to the ships stranded in the Persian Gulf
Unchecked barnacle growth can reduce speed / increase fuel consumption by 40-80% in extreme cases (IMO, EU CLEANSHIP)
Barnacles can even eventually...sink a ship or cause a total loss
I really expect better from Marhelm. This is nonsense. Yes it will eventually need to be cleaned but this will not prohibit ships from resuming their voyages.
We're now hearing from our sources about sea chests with clogged gratings and pipes which can lead to a lack of cooling water for engines, necessitating a full UWILD for ships trapped in the Persian Gulf.
Maintenance crews will be busy for a long time - when they arrive.
A growing concern among brokers and owners - ships trapped in Hormuz may soon not even be seaworthy due to barnacle growth on hulls in warm, stagnant water
A few weeks ago oil was down significantly on this headline. Today brent is up 5%. Trump is running out of time. The US could escort a 100 ships through yet it won’t address the root of the problem which is that most of the gulf countries are still partially shut in.
U.S. NAVY HAS RESTARTED ASSISTING VESSEL CROSSINGS THROUGH THE STRAIT OF HORMUZ, ACCORDING TO U.S. MILITARY OFFICIALS. || THE OFFICIALS TOLD THE WALL STREET JOURNAL THAT A GREEK SUPERTANKER LADEN WITH TWO MILLION BARRELS OF CRUDE WAS GUIDED BY THE U.S. NAVY, AS IT CROSSED THE WATERWAY OFF THE OMANI COAST. - WSJ
As long as the gulf countries continue to shut in I don’t think an increase in vessel traffic through Hormuz really matters much. I doubt any of the gulf countries will try to resume operations until there is a lasting peace deal, not some extension of talks. Last thing they want to do is bring their fields back online only to have to immediately shut in again.
Did $borr release anymore news on the Arabia III during their earnings call? Ive been waiting a long time to see some sort of update on it. I don’t want to get myself in trouble so I won’t say anything other than “allegedly” it was hit by a drone back in March.
@CommodMkt@CommodMkt did $borr talk about the Arabia III at all during their earnings call? She looked pretty banged up from the “alleged” drone strike.
Most of gulf countries are still shut in so this “agreement” means nothing in my eyes. We will know when there is a lasting peace deal once we see news of OPEC countries bringing their fields back online. Watching increased traffic flow through Hormuz right now seems pointless to me. Until these fields come back online all of this is just noise and another day of 10+ million bbls lost.
You left out the fact that the US is draining their SPR to help fill the gap. They can do this for another few months till the SPR is drained after that Trump wound probably be forced to limit exports which would cause the price of Brent to blow out. Iran is gaining more leverage as each day passes.
@KrisPatel99 The longer this goes on the more leverage Iran has. Another 10 million barrels drained from the SPR over the last week. SPR will be fully drained in 4 months if they keep drawing that much each week.