US Oil Contango Vanishing as Supply Glut Shifts Abroad
The U.S. oil market is on the brink of returning to a more bullish footing known as backwardation for the first time in six months, with the discount for prompt…
Matson Completes Horizon Lines Acquisition
Matson, Inc. has completed the acquisition of Horizon Lines, Inc. which includes Horizon's Alaska operations and the assumption of all non-Hawaii business liabilities. Separately and immediately preceding the completion of the transaction, Horizon completed the sale of its Hawaii trade lane assets and liabilities to The Pasha Group for $141.5 million. Matson acquired the stock of Horizon for $0.72 per fully diluted common share…
Crowley to Manage 4 Jones Act Ships for Pasha
Crowley Maritime Corp.’s ship management group has been awarded a new contract with Sunrise Operations LLC, a subsidiary of The Pasha Group, of San Rafael, Calif., for the operation, crewing and maintenance of four Jones Act ships operating between the U.S. West Coast and Hawaii. The news follows the recent announcement that Pasha Hawaii, a wholly owned subsidiary of The Pasha Group, a family-owned global logistics company…
Statoil Awarded Licenses Offshore Nicaragua
Statoil informs it was today awarded four licenses offshore the Nicaraguan Pacific, covering an area of about 16,000 km2 in the largely unexplored Sandino Basin. Statoil will be the operator with 85 percent equity with the Empresa Nicaraguense del Petroleo (Petronic) participating with the remaining equity. Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere…
Kongsberg Contracted to Support FLNG Conversion
Keppel Shipyard in Singapore and Black & Veatch in the U.S. have awarded Kongsberg Maritime an order for the delivery of an electrical package and safety and automation system for Golar LNG’s conversion of the ex-LNG Carrier Golar Hilli to an FLNG (Floating Liquefied Natural Gas production unit). Kongsberg Maritime’s technology will be the backbone of the Integrated Control and Safety System (ICSS) for the new FLNG.
Wage Row Between Argentine Crushers, Companies Reaches Crunch Point
Pressure grew on Friday for a resolution to wage talks between exporters and striking crushers in Argentina's Rosario grains hub, with another powerful union threatening…
Unicom Selects the Ecochlor BWTS for 10 Tankers
Ecochlor, Inc. announced that Unicom Management Services (Cyprus) Ltd. (Unicom), acting for SCF Group, signed a 10-vessel agreement for the Ecochlor Ballast Water Treatment System (BWTS) in Limassol…
EXG Wins CII SCALE Award
Express Global Logistics Pvt Ltd (EXG) won the Supply Chain and Logistics Excellence (SCALE) Award 2015 organized by CII (Confederation of Indian Industry). EXG bagged the award for Excellent Position in Supply Chain & Logistics in Specialised Cargo category. The recognition of SCALE Awards 2015 encompasses the excellence amongst logistics service providers and supply chain aspect of user industry.
World Refugee Crisis to Worsen with Climate Change
A historic 52 million people are fleeing conflict worldwide, a trend that will intensify over the next two decades because of climate change, International Rescue Committee chief David Miliband said on Friday. "One of the drivers of displacement and potential conflict over the next 10 to 20 years will be climate (change) - resource scarcity," said Miliband, a former United Kingdom foreign minister.
Great Barrier Reef Kept Off UNESCO 'Danger' List
A heritage committee of the UNESCO cultural agency stopped short of placing Australia's Great Barrier Reef on an "in danger" list, but the ruling on Friday raised long-term concerns about its future. The long-awaited ruling by UNESCO's World Heritage Committee welcomed Australian efforts to maintain the environmentally sensitive region but noted its outlook was "poor" and called on the government to stick rigidly to commitments to protect it.
Hiab to Launch the New Z-series Crane
Hiab launched the HIAB Z-HiPro 191 and HIAB Z-PRO 171 crane. Part of the new HIAB Z-series, the cranes feature the ability to be folded into a Z position and parked behind the drivers cab with the tools still attached. This unique attribute makes them the only models available on the market to be fully optimised for transport, whilst meeting the latest legislation. The Z-series cranes have been designed for applications where speed…
Scorpio Tankers' Buyback Plan, Newbuild Delivery
Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and (iii) that it will not exercise the options to purchase two LR2s currently under construction (with deliveries expected in the fourth quarter of 2016 and first quarter of 2017) from Scorpio Bulkers Inc., a related party. On May 27, 2015, the Company's…
Pentair Opens Aquaculture Center of Excellence
Mindful that fish farming has the potential to help meet an expanding population's need for protein in a world with increasing water constraints, Pentair announced the opening of its Pentair Aquatic Eco-Systems' World Aquaculture Technology Engineering & Research Center of Excellence in Apopka, Florida. The center, which consists of 12,400 square feet of laboratories and fish culture systems, will be used for demonstration, research and teaching activities.
USS Montpelier Modernization Contract for General Dynamics
The U.S. Navy has awarded General Dynamics Electric Boat a $46.4 million contract for planning efforts in support of maintenance and modernization work on USS Montpelier, a Los Angeles-class attack submarine. Electric Boat is a wholly owned subsidiary of General Dynamics. Under the terms of the contract, Electric Boat will perform the planning activities required to conduct an interim dry-docking period…
More Keppel FELS Jackup Rigs for Mexico
Keppel FELS Limited , a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), is on track to deliver three KFELS B Class jackup rigs to Mexican company, Grupo R, safely, on time and on budget. A world's first triple rig naming ceremony was held today at Keppel FELS' yard with Mr Chan Chun Sing, Singapore's Minister in Prime Minister's Office and Secretary-General of the National Trades Union Congress as the Guest of Honour.
HAROPA, an Official Partner for Vinexpo 2015
From 14 to 18 June, HAROPA, world top port for wine and spirits, will be an official partner for Vinexpo 2015, a major and inescapable event in the wine and spirit sector. For its first participation in Vinexpo, HAROPA - the alliance of the ports of Paris, Rouen and Le Havre - will be present at the heart of the new “expert exclusive” zone dedicated to the logistics of wine, beside three partners: customs, Soget and Hillebrand, the world leading forwarder for wine and spirits.
NewLead Holdings' CFO Quits
NewLead Holdings Ltd. announced yesterday that Antonios Bertsos has resigned as Chief Financial Officer of the Company in order to pursue other career opportunities.
Fourth Vessel Joins Topaz Energy ERRV Fleet
Topaz Energy and Marine, a leading offshore support vessel company, has bolstered its Emergency Response and Recovery Vessel (ERRV) fleet with the addition of a new vessel, Topaz Responder. The newly-built, state-of-the-art Topaz Responder will primarily provide safety support to offshore installations but is versatile enough to also provide general offshore support services. Constructed to the highest standards…
Mexico Lifts Bidding Limits for First Batch of Oil Tenders
Mexico's oil regulator voted on Friday to relax rules on bidding terms and contracts that form the first step in a historic sector opening that kicks off this summer with the public auction of 14 shallow water fields. The July auction will mark the first of five packages of oil fields up for grabs, part of a so-called Round One tender that follows a major energy reform approved by Congress last year.
Myanmar Lands Seized Migrant Boat on Island
A boat packed with more than 700 "boat people" seized off Myanmar's coast was stopped on a small island on Saturday, as officials gave mixed signals about its final destination. Myanmar's navy discovered the boat with 727 migrants off the country's southern coast on Friday, but have since been tight-lipped on the identity of those on board, as well as their fate. Myo Win, the township administrator of Hainggyi Island…