High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
The floating storage unit (FSU) Heidrun B left the Samsung Heavy Industries shipyard in South Korea in March 2015, heading for Norway.
The FSU was ordered by oil major Statoil in 2012 for US $230 million.
The storage vessel is designed to be permanently moored on the Heidrun field in the Norwegian Sea – considered to have some of the world’s worst weather conditions – for 30 years. The 250-meter long and 46-meter wide storage vessel has a capacity of 850,000 barrels of oil.
The new storage unit will replace the existing buoy loading system at the field. The new FSU will be permanently connected to a buoy and the oil will be lifted from the FSU by use of shuttle tankers.
Statoil expects to maintain production at the Heidrun field until at least 2045.
Note – Check out the Prelude FLNG, the world’s largest floating structure, in the background at :30 and :50.
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