As Beijing looks to boost ship exports, Japan's Kawasaki Heavy Industry Ltd is likely to join state-run China Ocean Shipping Group to set up a $96.8 million shipyard in east China. The shipyard, a 50-50 joint venture, will design and build vessels of at least 160,000 dwt. There are also reports that South Korea's Samsung Heavy Industries Ltd is expected to set up a wholly-owned shipyard in China.
As Beijing looks to boost ship exports, Japan’s Kawasaki Heavy Industry Ltd. and state-run China Ocean Shipping Group have announced intentions to set up a $96.8 million shipyard in east China. The shipyard, to be located in Nantong in Jiangsu province, would be a 50/50 joint venture and would design and build vessels of at least 160,000 dwt. There was also report last week that South Korea’s Samsung Heavy Industries Ltd
Russia's Lukoil expects its crude exports next year to stay at the expected 1999 level of 24 to 25 million tons. "If the rules do not change, we hope (to export) around 24 or 25 million tons, like this year," Vagit Alekperov told a news conference. Russia doubled its crude oil export tariff to 15 euros per ton from December 8 in line with rising world prices.
Vinashin has joined forces with Korea’s Songsan Company to form a joint venture to produce steel structures for shipbuilding. The Songsan-Vinashin JV will invest $35m to build a factory in the northern Hai Duong Province. The steel mill is set to come on stream in the second quarter of 2008. The mill is designed to produce steel structures for shipbuilding yards including Vinashin, replacing imported products in the national industry.
According to English.chosun.com, Korea's southern island Geoje has a 400-hectare plot where 26,000 shipbuilders are hard at work. The shipyard owned by Daewoo Shipbuilding and Marine Engineering places among the top five along with Hyundai Heavy Industries and Samsung Heavy Industries. Korea's shipbuilding industry, keeps on growing. This year's ship exports are expected to exceed US$30 billion, up 13 percent from last year.
The Energy Department announced it has conditionally authorized Lake Charles Exports, LLC (Lake Charles) to export domestically produced liquefied natural gas (LNG) to countries that do not have a Free Trade Agreement (FTA) with the United States from the Lake Charles Terminal in Lake Charles, Louisiana. Lake Charles previously received approval to export LNG from this facility to FTA countries on July 22, 2011. Subject to environmental review and final regulatory approval
Mexico's crude oil export ports Dos Bocas and Pajaritos in the Gulf of Mexico remained closed on Wednesday by bad weather, the Transport Ministry said. Winds of up to 85 kmph were whipping up 14-ft. waves at Coatzacoalcos the Veracruz state port where Pajaritos is located, the ministry said. A daily average of 389,000 barrels of extra-light Olmeca crude was exported from Pajaritos in 1997.
Iran has signed a memorandum of understanding (MOU) to export natural gas to Italy, to be implemented by 2011, says an IranMania report. Iran will also export gas to China by the end of the current year. China’s oil giant Sinopec Group signed a $70 billion oil field development and LNG agreement with Iran earlier this fall, according to the report. Iran will attain an annual LNG export of 36 million tons, worth $6 billion, by 2015. Source: IranMania
The output from an expanded Australian North West Shelf is a major driver in the forecast 48 percent increase in LNG exports to $4.7 billion this year, according to a WA Business News report. The increase in LNG exports is drawing on higher output from the NWS's fourth LNG train, as well as the start up of the new Darwin LNG plant in 2006. Source: WA Business News
Russian President Vladimir Putin has signed a law on the liberalization of exports of liquefied natural gas (LNG). According to the document, two new categories of license holders are entitled to the right to export LNG, in addition to Gazprom, reports Arctic-Info. The law now effected allows LNG to be exported by Rosneft and Yamal SPG (in addition to Gazprom) on the following grounds: The authorisation gives the right to export LNG to license holders of subsoil resources of federal
Six years after applying to build the Keystone XL pipeline, Canada's frustrated oil industry appears steadfast in its support of the plan even though Washington has again delayed a decision on whether to approve the politically charged project.
Argentine President Cristina Fernandez on Monday asked Congress to eliminate some of the taxes paid by biodiesel manufacturers in a bid to support an industry hard hit by European Union anti-dumping measures.
Sakhalin Energy and Sovcomflot (SCF) inform they have agreed to extend their co-operation having signed a number of agreements for construction and long-term operation of support vessels for the Sakhalin-2 project. SCF explain that the vessels will be used as year-round personnel carriers and
The recovery of the Eurozone continues as job creation returns across the region. The hiring of more staff indicates that manufacturing and service industries believes in a sustainable recovery where growth is picking up. Flash Eurozone PMI Composite is now at 54.0 (53.1 in March)
An oil tanker is due to load 1 million barrels of crude on Tuesday from Libya's recently reopened Hariga port, its first export shipment after a deal to end months of closures at its key terminals, the National Oil Corp. (NOC) said. The tanker is due to take its load to Italy
North Sea Forties crude differentials firmed on Tuesday as traders eyed two potential VLCC shipments to Asia, though gains were capped as the first cargo of Libyan crude was set to load since a deal with rebels to reopen ports. Traders have been watching the progress of two VLCCs - the BW Utah
Activity in the Russian Urals crude market froze on Tuesday as traders said they were awaiting the first loading dates for May for signs of how much supplies from the world's top oil producer could fall next month. Traders said they anticipated lower exports from Russia in May as several major
Bankrupt Brazilian oil company Óleo and Gás Participações SA, formerly known as OGX, has obtained a $73.2 million loan to finance exports and related costs, the company said on Tuesday in a securities filing.
Turkish Energy Minister Taner Yildiz said on Wednesday that Ankara would consider the passage of the South Stream natural gas pipeline through Turkey if Russia made such a request. The future of the 2400 km (1,490 mile) line from Russia via the Black Sea to Europe, avoiding Ukraine
Harsh winter elsewhere, ship deployment changes soften traffic Container volumes at the Port of Long Beach dipped in March, compared to the same month one year ago, with a decline of 1.9 percent overall and imports essentially flat. March saw some shipping lines suspend services or switch to
The Port of Los Angeles has released its March 2014 containerized cargo volume figures, showing that container imports surged 42 percent, from 231,397 TEUsin March 2013 to 327,497 TEUs in March 2014. Exports rose 21 percent, from 154,428 TEUs in March 2013 to 187,826 TEUs in March 2014.
Deputy Prime Minister of the Russian Federation, Arkady Dvorkovich, has confirmed that the 21st World Petroleum Congress will be held in Moscow from 15 – 19 June 2014. The congress will be the largest international event in the global oil and gas industries
Technical problems have delayed the reopening of Libya's eastern Zueitina oil export terminal after the government reached a deal with rebels to end an eight-month blockade of the port, a minister said on Sunday. Two weeks ago, the Tripoli government reached an agreement
Technical problems have delayed the reopening of Libya's eastern Zueitina oil export terminal after the government reached a deal with rebels to end an eight-month blockade of the port, a minister said on Sunday. Two weeks ago, the Tripoli government reached an agreement with rebels in the
Alaska's legislature on Monday approved Governor Sean Parnell's plan to join four energy companies in moving ahead on plans to build infrastructure to transport and market 35 trillion cubic feet of North Slope gas to be shipped by an 800-mile pipeline to a liquefied natural gas (LNG)