Refiners Cold, Oil Unsold amid Nigerian Chaos
Refineries from India to the United States are backing away from buying Nigerian oil amid heightened uncertainty about deliveries as the country squares up to militants in the restive Delta region.
Iran Halts LPG Exports to Japan
Iran said on Wednesday it had stopped exports of liquefied petroleum gas (LPG) to Japan, but there were other customers available to buy the Islamic republic's LPG…
Chain Tensioning, Cutting Completed for FPSO Turritella
InterMoor said it has completed the final tensioning and chain cutting operations on the FPSO Turritella for the Shell Stones project, located in the Walker Ridge protraction area in the Gulf of Mexico (GoM). The FPSO Turritella will connect to subsea infrastructure located beneath approximately 9,500 ft (2,896 m) of water, breaking the existing water depth record for an oil and gas production facility.
Havila Shipping CEO: Firms Must Fix Own Issues before Discussing M&A
"We're familiar with the thinking of other industry players," he said. Saevik said Havila's restructuring talks are still ongoing and declined to comment on remaining issues in restructuring process. On Tuesday, two of Havila's competitors, DOF and Solstad Offshore announced restructuring plans to prepare themselves for more market headwinds and for potential consolidation. Shares in Havila are down 77.5 percent over the past year, against a drop of 4.7 percent for the Oslo benchmark index.
Baltic Index Rises on Stronger Capesize Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on stronger demand for capesize vessels.
IEA Sees Slower Global Gas Demand Growth to 2021
Growth in natural gas demand will slow to an average 1.5 percent a year globally through 2021, as stagnation in Europe and uncertainty about Chinese consumption offsets robust growth in India…
DONG Energy Narrows IPO Pricing Range
Danish utility and offshore wind farm developer DONG Energy has narrowed the price target for the company's share sale in Copenhagen, cutting off the top end of range, one source with direct knowledge to the matter said. The price range has been narrowed to 225 Danish crowns and 235 crowns ($34.39-$35.92) from an earlier target of 220-255 crowns. "A message was sent to investors on Tuesday night that…
S.Korea Creates $9.5 Bln Fund for Banks Exposed to Shipyard Troubles
South Korea's government and central bank will create an 11 trillion won ($9.50 billion) fund to support two state-run banks most exposed to the country's struggling shipping and shipbuilding firms. "Our key industries like shipping and shipbuilding are being aggressively caught up by countries like China and management conditions have worsened due to weak global trade," Finance Minister Yoo Il-ho said in a speech announcing the corporate restructuring plans on Wednesday.
Alphatron Offers Discount to Green Award Ships
Following a cooperation sealed between Alphatron Marine and Green Award Foundation at Posidonia in Athens, Greece, Alphatron Marine will reward Green Award certified ships with a discount of 10 percent that applies to a range of products and services for both seagoing and inland navigation ships. Green Award certificate implies that a ship’s performance is of such high standards of safety and quality that the ship qualifies for the Green Award requirements.
AEGIR Participates in Stern Tube Seal Research
AEGIR-Marine, working together with two Dutch technical universities, has launched two substantial research programs in the field of stern tube seals. “Market and…
Shipping Exec Indicted for Price Fixing
Another ocean freight executive has been indicted for participation in a long-running conspiracy to restrain trade in international ocean shipments of roll-on, roll…
Berge Bulk Implements Sertica
Singapore based dry bulk owner, Berge Bulk, started implementing Sertica in January 2015 and today has 34 active vessels. Starting out with 12 vessels in 2007, Berge Bulk has more than tripled the size of its original fleet, now operating and managing more than 40 vessels. Today, a full Sertica product suite is in use on 34 of the 40 vessels. This includes Sertica Maintenance, Sertica Fleet Management, Sertica HSQE, Sertica Procurement and Sertica Invoice Management & Workflow.
French LNG Terminal Workers Plan to Strike
Workers at Elengy's three liquified natural gas (LNG) terminals in France have voted to stage two 24-hour strikes on Thursday and next Tuesday as part of nationwide protests against a labour reform bill, a CGT union official said on Wednesday. The strikes will halt unloading of LNG tankers and reduce production of gas for the grid to minimum levels, the official told Reuters. A previous stoppage last…
This Day In Naval History: June 8
1830 - The sloop of war USS Vincennes becomes the first US Navy warship to circle the globe when she returns to New York. She departs on Sept. 3, 1826, rounds Cape Horn and cruises the Pacific protecting American merchantmen and whalers until June 1829. 1880 - Congress authorizes the Office of Judge Advocate General. Vice Adm. Nanette M. Derenzi currently serves as the 42nd Judge Advocate General of the Navy. 1937 - Capt. Julius F.
Roger Blough Lightering Complete
Lightering operations were completed Tuesday, as the U.S. Coast Guard continues to monitor and respond to the motor vessel Roger Blough, Tuesday, after the vessel ran aground May 27 on Gros Cap Reef in Whitefish Bay in Lake Superior. The cargo on board the Roger Blough was successfully offloaded onto two vessels, the Philip R. Clarke and Arthur M. Anderson. Each of the receiving vessels have departed the Waiska Bay anchorage to deliver the iron ore to its intended destination.
Lack of Communication Led to Houston Ship Collision -NTSB
The probable cause of the 2015 collision of the Conti Peridot and the Carla Maersk in the Houston Ship Channel was the inability of the pilot on the Conti Peridot…
Huge Port Envisioned by Tycoon Opens in Brazil - without Him
The launch this week of Prumo Logistica's $3.7 billion Port of Açu, the largest in Latin America, marked the revival of a Brazilian logistics hub many thought doomed…
OECD Lead Indicator Flags First Signs of Growth Stabilization
Signs are emerging that a downturn in the United States and China, the world's two biggest economies, may have bottomed out, the OECD's monthly leading indicator showed on Wednesday. The Paris-based Organisation for Economic Cooperation and Development said its leading indicator (CLI) for the United States improved to 98.95 in April from 98.93 in March, the first increase in the reading since July 2014.
Seawater Carbon Capture Process Receives US Patent
The Electrolytic Cation Exchange Module (E-CEM), developed at the U.S. Naval Research Laboratory (NRL), provides the Navy the capability to produce raw materials necessary to develop synthetic fuel stock at sea or in remote locations. The NRL, Material Science and Technology Division, has been granted the first U.S. patent for a method to simultaneously extract carbon dioxide and hydrogen from seawater.
US Agents Move against Illegal Timber Imports from Amazon
U.S. agents searched the offices of a California-based wood importer this week as part of a broadening government crackdown on imports of illegally harvested timber…