Seven Sailors Killed as US Navy Destroyer Collides with a Container Ship
Bodies of seven U.S. sailors recovered after the U.S. destroyer collided with with Philippine-flagged vessel CX Crystal near south of Tokyo Bay in Japan. The bodies of missing sailors were found in flooded compartments of the USS Fitzgerald, which came close to sinking after a collision with a container ship off Japan tore a gash under the warship's waterline, the U.S. Navy's Seventh Fleet commander said on Sunday.
Wells Fargo Calls $100 Oil a 'Pipe Dream'
USD 100 per barrel oil is but a “pipe dream,” Wells Fargo said in a new investor note, reports MarketWatch. The report quoted Wells Fargo’s John LaForge saying that he’s doesn’t expect oil prices to climb anywhere near $100 a barrel over the next few years. Barrels price will bounce between $30 and $60 in the coming years, according to top bank’s diagnosis. “We continue to hear that big cutbacks are on the cusp of happening,” he said. “The evidence, however, implies otherwise.
Malta Hosts European Shortsea Network Meeting
European Shortsea Network (ESN) meeting was held in Malta with representatives from 11 European countries at the head office of Malta Freeport Terminals, says a report in Times of Malta. The presidency of the European Shortsea Network is currently held by Malta which also hosts the official registration of the European Shortsea Network as a legal entity. The European Shortsea Network is an association…
Latvian Shipping Company Adds 25th Tanker to its Fleet
The JSC Latvian Shipping Company subsidiary LSC Shipmanagement (LSCSM) supplemented the fleet under its full technical management with a newbuilding “Elandra Falcon”, which is the 25th tanker managed by LSCSM. The new tanker is intended for transportation of oil products. Her total length is 268.25 meters and deadweight – 157’000 tons. “We are delighted that LSCSM is able to expand the fleet under its technical management…
European e-Navigation Solutions Tested for Human Factors
The EU funded EfficienSea2 project, which aims to implement innovative and smart solutions to increase efficient, safe and sustainable traffic at sea, has finished a full-scale simulation of a wide variety of e-Navigation solutions. The simulations, which involved 8 navigators and took a total of four days, were conducted at Chalmers University of Technology in Sweden and focused on the human factors in e-Navigation.
DOF Subsea Shelves IPO Plans
Norway's DOF Subsea has decided to hold off on launching its initial public offering (IPO), citing volatile market conditions. Company shareholders DOF ASA, with 51 percent, and a fund managed by First Reserve, with 49 percent ownership, announced in May that they were considering an opportunity for the company to apply for a listing on Oslo Stock Exchange. The shareholders have now decided to shelve these plans, instead opting to wait for market conditions to improve.
Qatargas to Supply LNG to Shell
Qatargas and Shell have signed a memorandum of understanding (MOU) that will lead to the two companies jointly researching liquefied natural gas (LNG) logistics. Through this joint logistics research collaboration, Qatargas and Shell aim to develop new ways to optimize supply chains to deliver to LNG global markets. The research will be conducted at the Qatar Shell Research & Technology Centre at the Qatar Science & Technology Park.