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Trump Seeks 'Historic' Increase in Defense Spending
President Donald Trump is seeking what he called a "historic" increase in military spending of more than 9 percent, a huge rise even as the United States has wound down major wars in Iraq and Afghanistan and remains the world's strongest military power. Trump will seek to boost Pentagon spending in the next fiscal year by $54 billion in his first budget proposal and slash the same amount from non-defense spending…
Iraq Plans to Acquire "Large Fleet" of Oil Tankers
Iraq plans to acquire a "large fleet" of oil tankers to transport the OPEC nation's crude to global markets, Oil Minister Jabar al-Luaibi said in a statement on Friday.
U.S. Navy Conducts Med Air Strikes
The George H.W. Bush Carrier Strike Group (GHWBCSG) commenced strike missions in support of Operation Inherent Resolve (OIR) from the eastern Mediterranean Sea, Feb. 13.
LR Demand Difficulties
There has always been a compelling story being told about how larger product carriers are the future, in particular the LR2s, says Gibsons Weekly Tanker Report.
Oil Exports From Southern Iraq Down in January
Crude oil exports from southern Iraq in January fell to 3.275 million barrels per day (bpd) from 3.51 million bpd in December, as the country complied with an agreement…
Oil Prices Won't Reach 'Desired Level' before 2018, Iraq Says
Oil prices will not reach "levels desired" by Iraq before the end of 2018 or 2019, Iraqi Prime Minister Haider al-Abadi said on Tuesday in Baghdad. "Demand has increased and this has helped raise the prices but it won't return to the level of 2013" when crude exceeded $100 a barrel, he told a news conference. "Oil will not reach a desired level before 2018 or 2019," he added, without indicating Iraq's desired price. Iraq is OPEC's second-largest crude producer, after Saudi Arabia.
Mattis Takes Oath as 26th Defense Secretary
By a 98-1 vote, the Senate confirmed retired Marine Corps Gen. James Mattis to be the 26th secretary of defense Jan. 20, and Vice President Michael R. Pence administered…
HDASCO Returns to Le Havre
Starting February 2017, HDASCO Line provides a new commercial offer between HAROPA – Port of Le Havre and many Iranian and Iraqi ports. HDASCO Line (Hafez Darya Arya Shipping Company)…
Oil Steady; Record High Russian Output Forecast Offsets Weak Dollar
Oil prices were little changed on Tuesday as forecasts for record production out of Russia in 2017 helped offset earlier gains related to a decline in the U.S. dollar…
2017 Med Migrant Deaths Up Sharply
At least 219 migrants and refugees are believed to have drowned in the Mediterranean already this year, more than double than during the same period a year ago,…
Iraq Oil Exports Steady Despite Start of OPEC Cut
Oil exports from Iraq's southern ports in the first nine days of January have held steady at December's record high, according to loading data and an industry source…
US Navy Fires Warning Shots at Iranian Vessels
A U.S. Navy destroyer fired three warning shots at four Iranian fast-attack vessels near the Strait of Hormuz after they closed in at high speed and disregarded repeated requests to slow down, U.S.
Oil up 1.7%, Adds to Year's Gains Ahead of OPEC Cuts
Oil jumped 1.7 percent Tuesday, continuing its year-end rally with support from expectations of tighter supply once the first output cut deal between OPEC and non…
Restrata, Agility Partnership in Training at REP, Iraq
Restrata, a global leader in consultancy and training services, has partnered with leading logistics provider Agility to offer specialised training for oil and gas…
Canada Oil Sands Asia Export Dream Faces Port Bottleneck
The bullish view for Suncor Energy Inc (SU.TO), Cenovus Energy Inc (CVE.TO) and other Canadian energy producers calls for Prime Minister Justin Trudeau by next month…
The US Election: Ramifications for Maritime
Clinton vs. Trump. Perhaps one of the most important presidential elections in U.S. history, the 2016 Election Day results with have impacts felt far and wide – and all throughout maritime industry. A proverb common to both Greek and Turkish cultures states that a wolf may change its fur, but does not change its nature (Ο λύκος την τρίχα αλλάζει, το χούι δεν τ`αλλάζει /Kurt tüyünü değiştirir, huyunu değiştirmez).
ICTSI 9M2016 Income Up 4%
International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the first nine months of 2016 posting revenues…
Jawar Al Khaleej Orders Three Vessels
At this year’s Seatrade Maritime Middle East Exhibition taking place in Dubai, Jawar Al Khaleej Shipping LLC (JAK) signed a contract with Damen Shipyards Group for the supply of three vessels: one Fast Crew Supplier (FCS) 5009 and two ASD Tugs 3213. JAK is a provider of specialist services to the offshore oil and gas sector in the Gulf, delivering logistical support including oil terminal support services, towage and salvage, together with other integrated offshore solutions.
Australia, France Meet to focus on Future Submarine Program
The Minister for Defence, Senator the Hon Marise Payne, and her French counterpart, Minister Jean-Yves Le Drian, today agreed to strengthen the Australia-France…
As Iran Oil Tenders Near, Investors Still in the Dark on Terms
Two years after Iran pledged to open up its oil industry in anticipation of the lifting of sanctions, foreign companies say they still have little information about…