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Western GOM Lease Sale Attracts Bids of $337 Million

The Department of the Interior’s Bureau of Ocean Energy Management announced that its Western Gulf of Mexico Oil and Gas Lease Sale 218, held today in New Orleans, attracted $337,688,341 in high bids and included 20 companies submitting 241 bids on 191 tracts comprising over a million acres offshore Texas.   The sum of all bids received totaled $712,725,998. This announcement is consistent with steps President Obama announced in May 2011 to expand domestic oil and gas production safely and responsibly. “Today’s lease sale, the first since the tragic events of Deepwater Horizon, continues the Obama administration’s commitment to a balanced and comprehensive energy plan,” said Secretary of the Interior Ken Salazar, who attended the sale and provided opening remarks. “Offshore drilling will never be risk free, but over the last 19 months we have moved quickly and aggressively with the most significant oil and gas reforms in U.S. history to make it safer and more environmentally responsible. Today’s sale is another step in ensuring the safe and responsible development of the nation’s offshore energy resources.” Sale 218, the last remaining Western Gulf Planning Area sale scheduled in the 2007-2012 Outer Continental Shelf (OCS) Oil and Natural Gas Leasing Program, made available 3,913 unleased blocks covering more than 21 million acres – equal to an area the size of South Carolina


Moore Stephens Recommends Exploring Leasing Solutions

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International accountant and shipping adviser Moore Stephens said shipping companies should explore leasing opportunities as a way of adjusting their self-owned and chartered-in tonnage balance in response to the radical changes that have taken place in ship financing in recent years. Phil Cowan, the firm’s Head of Corporate Finance, said, “The traditional thinking of a company needing to own all the resources it uses to operate has been successfully challenged for many years


Get Ready for Changes in Lease Reporting

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By Richard Paine, Sr., from the December 2010 edition of MarineNews Since the middle of 2006, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working towards changing how companies report their lease transactions on their balance sheets. Those companies (including publicly traded entities) whose reporting complies with Generally Accepted Accounting Principals (GAAP) must observe the reporting regulations as set down by FASB


NOIA Supports DOI’s Mid- and South Atlantic G&G Impact Statement

Washington, D.C.– The National Ocean Industries Association (NOIA) appreciates that the Draft Programmatic Environmental Impact Statement (DPEIS) for the Mid- and South Atlantic G&G Activities announced by the Department of the Interior is an important first step toward potential energy exploration and development in the Atlantic Outer Continental Shelf (OCS).  “Since the areas have been largely unexplored for over two decades, due to executive and Congressional bans


NOIA Optimism on Gulf of Mexico Oilfield Sales

Trade Association NOIA, representing America's Offshore Energy Industry, sees a postive trend in the Gulf of Mexico offshore industry NOIA President Randall Luthi issued the following statement in advance of the forthcoming Central Gulf of Mexico Consolidated Lease Sale 216-222: Overall, compared to the last two years, we are seeing a positive trend for the offshore industry in the Gulf of Mexico, and we are looking forward to Wednesday’s lease sale with cautious optimism.


Continued Growth for Container Leasing Sector

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The container leasing sector experienced another year of stellar growth in 2013 thanks to the continuing weakness of carrier financials, according to Drewry’s recently published Container Leasing report. And Drewry forecasts that this trend will continue. The leased container fleet (teu) expanded 7.3% in 2013, fast outpacing the 2% growth recorded by the fleet owned by transport operators, most of whom are shipping lines


U.S. Offers Credits to Give up Gulf Oil, Gas Leases

The Interior Department proposed giving energy companies credits for future royalties owed to the government on oil and natural gas drilling if they give up certain exploration leases in the Gulf of Mexico that are near the Florida coastline. Legislation passed by Congress mandated a moratorium on oil and gas leasing in federal waters in the eastern Gulf of Mexico that is within 125 miles of the Florida coastline and in a portion of the central Gulf that is closer than 100 miles of the


Salazar Statement on Leasing Court Ruling

U.S. Department of the Interior Secretary Ken Salazar issued the following statement regarding the U.S. Court of Appeals for the District of Columbia Circuit ruling on DOI’s request for clarification of the Court’s earlier decision to vacate the 2007-2012 Outer Continental Shelf oil and natural gas leasing program:  “I am pleased with the Court’s decision.  Consistent with the Department’s request


BOEM to Hold Public Meeting in New Orleans

BOEM Will Hold Public Hearing on December 8th in New Orleans on Proposed Oil and Gas Leasing Program.   The Bureau of Ocean Energy Management (BOEM) will hold a public hearing in New Orleans on Dec. 8, 2011, to provide an opportunity to comment on the Draft Programmatic Environmental Impact Statement for the Proposed Outer Continental Shelf Oil and Gas Leasing Program for 2012 – 2017. This is one in a series of 13 public hearings.


US Intermodal Container Leasing Market Report

'Intermodal Container Leasing in the US Industry' market research report published by IBISWorld Excerpts from the report are as follows: The Intermodal Container Leasing industry is heavily dependent on large-scale domestic and international trade levels. Thus, as consumer spending fell during the recession and demand for goods across the economy dipped, fewer containers were needed for the transport of products. However, China's resilience and strong growth throughout the past five years


US Proposes Allowing Oil, Gas Drilling off Atlantic Coast

The Obama administration on Tuesday proposed allowing for the first time oil and gas exploration in a wide swath of U.S. waters off the Atlantic Coast.   The 2017 to 2022 drilling plan begins a process that could take many years before waters off the coasts of Virginia, North Carolina


NewLead Holdings Acquire 5 Vessels

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  NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less than a year while performing on its strategy to capitalize on opportunities that arise in the market.


Bomb Threat Cut Lithuania LNG Terminal Output

Gas supply from Lithuania's liquefied natural gas (LNG) import terminal was interrupted on Wednesday due to a bomb threat that later turned out to be a hoax, the terminal's operator Klaipedos Nafta said on Wednesday. The terminal is now preparing to restart, a spokeswoman said.


BOEM Issues Supplemental Environmental Impact Statement

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The U.S. Department of the Interior, Bureau of Ocean Energy Management (BOEM), announces the availability of the Draft Supplemental Environmental Impact Statement (EIS) for proposed Central Planning Area (CPA) Lease Sales 241 and 247 and Eastern Planning Area (EPA) Lease Sale 226.  


Frontline Disappoints with Deeper 3Q Loss

Frontline, once the world's biggest crude oil tanker company, reported a bigger than expected third-quarter loss on Tuesday and said it is still considering options to restructure its debt and lease obligations. The Oslo-listed tanker business of shipping tycoon John Fredriksen said its results


Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow. And, if that newbuild or conversion program involves a significant fleet expansion


Port of Houston Expecting Record Year

John Moseley, Sr. Director, PHA Trade Development; Ellen Goldberg, Indian Film Festival of Houston (IFFH) Board Member and Immediate Past President, Sister Cities of Houston; Port Commission Chairman Janiece Longoria; Sutapa Ghosh, Founder and Festival Director, IFFH; Atul Badwal, IFFH Board Member; and Port Commissioner John Kennedy

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director Roger Guenther reported to the port commission of the Port of Houston Authority at its monthly meeting Tuesday.  


BW Offshore Lands FPSO Contract Extension

BW Offshore has received a one year contract extension for the lease and operation of the FPSO Umuroa operating on the Umuroa field offshore New Zealand for AWE.   Under the extended contract, the firm period has been extended from Q4 2015 to Q4 2016


BOURBON Continues to Sell Vessels

BOURBON completes vessel sales to ICBC Financial Leasing and Standard Chartered Bank and announces new sale and bareboat charter agreement with Minsheng Financial Leasing Co.   BOURBON has completed the transfer of ownership under the agreements with ICBC Financial Leasing (ICBCL) and


Asia Bulk-Capesize Rates at 6-year Low

Charter rates at 6-year lows as cargoes scarce; some owners anchoring ships rather than leasing at a loss. Rates for capesize bulk carriers have plunged to fresh six-year lows and could fall further with cargoes scarce in the post-holiday period, brokers said.


Sea Star Line Barges to Serve Puerto Rico Trade

Finalizing an agreement to service Puerto Rico trade, Sea Star Line, LLC will lease two barges with combined additional capacity of 800 forty-foot equivalent units (FEUS).   The weekly barge service, with a barge departing both San Juan and Jacksonville every Thursday


Obama’s Address Missed Energy Opportunities -NOIA

President Barack Obama delivers the State of the Union address in Washington, D.C., January 20 (Official White House Photo by Pete Souza)

NOIA President Randall Luthi issued a statement in response to President Obama’s 2015 State of the Union Address, stating that the President missed a few key points regarding domestic onshore and offshore energy production and supply, and its impact on the U.S. economy.  


Boost for Offshore Wind Energy

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As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Hopper today announced the release of an


NOIA: Draft Offshore Lease Program Both Hits and Misses

National Ocean Industries Association (NOIA) President Randall Luthi issued a statement on the 2017-2022 Draft Proposed OCS Oil and Gas Leasing Program, stating the U.S. Department of the Interior’s draft offshore oil and gas leasing program adds Atlantic opportunities, but misses others.


NewLead Expands Fleet to 10 Vessels

NewLead Holdings Ltd. announced that it recently added five bitumen tanker vessels, expanding its fleet to 10 vessels in less than a year while performing on its strategy to capitalize on opportunities that arise in the market.   NewLead completed the acquisition of three bitumen tankers






 
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