IEA: Unconventional Oil Revolution to Spread by End of Decade
The IEA’s Medium-Term Oil Market Report 2014 will be officially launched during a Press webinar on Tuesday, June 17, 2014, 11 a.m. Paris time. In addition, a web-based technical briefing will take place on June 17, at 16:30 Paris time where journalists will have an opportunity to put questions to the team that produced the Medium-Term Oil Market Report 2014. The unconventional supply revolution that…
DMW Marine Delivers Crane to US Navy
DMW Marine Group has delivered an ABS certified 500 ton meter man rated knuckleboom crane to NASSCO in San Diego for installation on the MLP 3 for the U.S. Navy. The crane has a maximum capacity of 24,200 Lbs. at 52-plus feet in Sea State 3 operating conditions. Man rated capacity is 24,912 lbs. at 41 feet also at Sea State 3. dmwmarinegroup.com
CATS Pipeline & Infrastructure Sold for $954m
BG Group agreed to the sale of its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea and associated infrastructure to Antin Infrastructure Partners for total proceeds up to $954 million. Under the agreement, BG Group will sell its 62.78% interest in CATS for a consideration comprising $888 million on completion of the transaction and a deferred amount of $66 million. The sale does not impact BG Group's rights to capacity in CATS.
Baja Ferries Hopes to Buy SNCM
Mexican ferry company Baja Ferries said on Tuesday it hopes to close a deal to buy troubled French ferry operator SNCM before November or December. SNCM (Societé Nationale Corse-Méditerranée), which runs routes from cities on France's Mediterranean coast to Corsica and northern Africa, has accrued losses of about 250 million euros ($340.38 million) from 2001 to 2013. In May, Baja said it was in talks with French transport firm Transdev about buying its 66 percent stake in SNCM.
2014 . . . And the Story Continues
Having sat in this seat for more two decades I am sometimes asked if I’m tired of the job and ready to move along. (Thankfully, though, that question has never come from my boss.) Unequivocally the answer is “no.” While the maritime industry is often erroneously labeled as conservative and behind the technological times, it is in fact a vibrant and multi-faceted transport niche, a literal cast of characters with a liberal mix of international…
No Middle Ground for Environmental Lobby
When dealing with the environmental lobby, there’s really only one thing you need to know. The nautical definition of middle ground is a length of comparatively shallow water having channels on both sides. In everyday language, we might call it a position of compromise between two opposing views or parties. That’s typically what reasonable folks try to achieve when resolving disputes or disagreements. For some in the environmental lobby, however, there’s no such thing as middle ground.
Nigeria Losing $35m a Day from Oil Theft - Report
Nigeria is losing an estimated $35 million a day from oil theft and needs to put a "full, final stop" to the growing black market for crude exports, according to…
PSA Is “Best Global Container Terminal Operating Co”
PSA International Pte Ltd (PSA) won the “Best Global Container Terminal Operating Company” award for the ninth year, and PSA Singapore Terminals was voted “Best…
Rosneft's Igor Sechin Meets PDVSA's V. P. of E & P
Rosneft President, Chairman of the Management Board Igor Sechin held a working meeting with Eulogio Del Pino, PDVSA Vice President of Exploration and Production today. The parties pointed meaningful results of joint projects of the two companies at the meeting. Daily production of the joint venture in the territory of Republic of Venezuela is currently 160 thousand barrels. The parties also discussed…
BP & CNOOC Sign 20-yr LNG Deal
BP and the China National Offshore Oil Corporation (CNOOC) today announced a heads of agreement for the supply of up to 1.5 million tonnes of liquefied natural gas (LNG) per year over 20 years starting in 2019. The agreement was signed in London by BP Executive Vice President, Dev Sanyal and CNOOC Chairman, Wang Yilin, in the presence of UK Prime Minister David Cameron and Chinese Premier, Li Keqiang.
Major Agreement Signed At 21st World Petroleum Congress
At the 21st World Petroleum Congress Rosneft, Ministry of Industry and Trade of the Russian Federation, Gazprom, NOVATEK, Gazprombank, Sovkomflot, United Shipbuilding Corporation signed a Joint Venture Agreement in relation to the implementation of vessel, drilling rig and marine equipment construction and design projects on the 16th of June. The document was signed in the presence of Vice-Premier Arkady Dvorkovich.
Foster Wheeler Wins Contract For Retrofit-SCR System
Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Turun Seudun Energiantuotanto Oy (TSE) for the design, supply and erection of a retrofit-selective catalytic reduction (SCR) system for TSE’s Naantali unit 3 in Finland. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed…
EMGS - New Contract In Norwegian Sea
Electromagnetic Geoservices ASA (EMGS), the marine EM market leader, has received a signed contract from a customer worth USD 2.3 million (NOK 13.5 million) for…
USS AOTOS 2014 Award Winners Named
The United Seamen's Service (USS) informs that 2014 Admiral of the Ocean Sea Awards (AOTOS) will be presented to Stephen Cotton, General Secretary of the International Transport Workers' Federation (ITF); Joseph J. Cox, President/CEO, Chamber of Shipping of America; and Frederick J. Harris, President of American shipbuilder General Dynamics NASSCO. The awards will be presented at a gala industry dinner and dance to be held at the Sheraton New York Times Square Hotel…
Ithaca Energy Operations Update Ahead of Shareholders Meet
Ithaca Energy Provided its operations update ahead of today’s Shareholders Meeting. The details are as follows. The third development well on the Stella field, well 30/06a-B1X (“B1”), has been successfully drilled to a total measured depth subsea of 16,185 feet. A 2,147 foot gross horizontal reservoir section was drilled in the Palaeocene Andrew sandstone reservoir, within the targeted oil rim. The well intersected high quality sands across a net reservoir interval of 2…
Steve Kennedy Re-joins Allianz from Zurich North America
Allianz Group’s specialist corporate insurer, Allianz Global Corporate & Specialty (AGCS), announce the appointment of Steve Kennedy as Head of Corporate Property and Inland Marine Claims, replacing Tony Clark who retired at the end of January 2014. Kennedy will manage a team of 18 professionals managing Property, Energy, and Engineering as well as Inland Marine claims for AGCS’s multinational clients.
Zargon Oil & Gas Announces Resignation of CFO
Zargon Oil & Gas Ltd. announces that Mr. Jason Dranchuk has tendered his resignation as Vice President, Finance and Chief Financial Officer of Zargon effective July 14…
Navios Acquisition Announces Delivery Of VLCC
Navios Maritime Acquisition Corporation an owner and operator of tanker vessels, announced that the Nave Neutrino, a 2003-built VLCC of 298,287 dwt, was delivered today. The Company also announced that the Nave Neutrino has been chartered out to a quality counterparty for six months at a rate based on an adjusted BITR TD3 index with an option for an additional six months period. Following the delivery of the Nave Neutrino…
BAE Systems Awarded USS Decatur Contract Modification
US Department of Defense inform that BAE Systems San Diego Ship Repair, San Diego, California, is being awarded a $20,524,009 modification to previously awarded cost-plus-award-fee/incentive-fee contract (N00024-11-C-4408) for 'USS Decatur' (DDG 73) fiscal 2014 dry-docking selected restricted availability. A dry-docking selected restricted availability includes the planning and execution of depot-level maintenance…
America's Top Fishing Port Addresses Groundfish Crisis
The Port of New Bedford says it has released its 6-pronged plan to revive its historic groundfishery and modernize the port. According to the New Bedford Harbor Development Commission’s (HDC) "Groundfish Port Recovery and Revitalization Plan for the Port of New Bedford and Fairhaven," the region’s groundfish fishery stands to improve if fisheries scientists and managers apply similar video survey technology as that which helped revive the region’s now-successful scallop fishery.