Marlink Buys Majority Stake in OmniAccess
Apax Partners backed Marlink said it has signed a definite agreement to acquire a majority stake in fellow maritime VSAT services firm OmniAccess. The transaction remains subject to customary regulatory approval and closing is expected in the first half of 2018. OmniAccess’ existing management team will remain unchanged and continue to keep a significant shareholding in the company. OmniAccess will remain a stand-alone company…
Novatek Aims to Launch Yamal LNG on Dec 8
Russia's Novatek has provisionally set Dec. 8 as the official launch date for its Yamal LNG plant, two sources with direct knowledge of the event planning told Reuters. Novatek's partners on the project are France's Total, the China National Petroleum Corp (CNPC) and China's Silk Road Fund. The project, on the Yamal Peninsula above the Arctic Circle, will be Russia's second LNG plant after Sakhalin-2 on the Pacific island of Sakhalin.
A BP North Sea field to test U.S. policy on Iran
A small gas field on the edge of the British North Sea could become a litmus test for U.S. policy towards Iran. London-based BP this week agreed to sell to North…
Total CEO Not Worried over Possible Norway Fund Capital Exit
The possible exit of Norway's sovereign wealth fund from the capital of French oil and gas major Total will take place over time and is thus unlikely to hurt Total's stock price, Chief Executive Officer Patrick Pouyanne said on Friday. "I can tell you that, obviously, the managers of the fund who we know very well...are not going to sell in a manner that would lead to a stock-price collapse," Pouyanne told shareholders during an annual gathering in Paris.
Catcher FPSO to Add about $200 mln in EBITDA/year
BW Offshore CEO Carl Arnet in FPSO (floating production, storage and offloading) firm BW Offshore Ltd says the Catcher field project in the British North Sea will add about $200 mln in annual EBITDA to its results when it comes on stream in December 2017. ** BW is also developing Dussafu field in Gabon.
Fredriksen Raises Stake in Debt Collector Axactor
Shipping and seafood billionaire John Fredriksen consolidated his position as the top shareholder in debt collector Axactor by buying more stock in the firm on Thursday…
BW LPG Sees Better Market Sentiment for 2018 vs 2017
Natural gas shipper BW LPG expects a better freight market in 2018 than in 2017 and will not make any new long term contracts below $20,000 per day for its very large gas carriers (VLGC), CEO Martin Ackerman said on Thursday.
National Security Cutter Midgett Launched
Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division has launched its eight National Security Cutter (NSC) built for the U.S. Coast Guard. NSC Midgett (WMSL 757) was launched on November 22, 2017, and will be christened during a ceremony on December 9. The ship is named to honor John Allen Midgett, who was awarded the Silver Cup by the U.K. Board of Trade in 1918 for the rescue of 42…
Petrobras Seeks USD 6.8bln Valuation for New IPO
Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras)will seek a valuation of up to 22 billion reais ($6.8 billion) for its fuel distribution unit in what is expected to be Brazil’s biggest IPO of the year, reported Reuters. The Brazilian energy giant intends to raise around $2.3 billion or $7.5 billion reais at the high end of the price range of 15 reais-19 reais per share. Petrobras is expected to offer between 25% and 40% of its stake in BR Distribuidora.
Allard Castelein Reappointed as CEO of Rotterdam Port
Allard Castelein is reappointed as Port of Rotterdam Authority CEO. He will be serving a second four-year term as CEO of the Port of Rotterdam Authority. Castelein (59) was reappointed by the Municipality of Rotterdam and the Dutch State, the two shareholders of the Port Authority, on the recommendation of the Supervisory Board. His new term will start on 1 January 2018. Chairman of the Supervisory Board Rutger van Slobbe: “Over the past few years…
MPC Container Ships Acquires Fleet Worth $130
The Oslo, Norway-based MPC Container Ships AS has entered into a commitment to acquire a fleet of feeder container vessels with a total purchase price of USD 130 million. MPC Container Ships was formed in April 2017. Its main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The company has also announced the successful completion of the private placement of 30.25 million new shares announced on 22 November 2017.
Milaha Rolls Out Sri Lanka-Bangladesh Feeder Service
Qatar-based maritime transport and logistics conglomerate Milaha is launching a direct feeder service between Sri Lanka and Bangladesh. "Milaha has announced the launch of a direct feeder service between Sri Lanka and Bangladesh. Colombo and Chittagong will be the 7th and 8th new ports of call for Milaha this year, and is part of the significant service expansion since the beginning of 2017," says a statement from the company.
8 Energy Firms Commit to Reduce Methane Emissions
BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall have committed to further reduce methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value chain – from production to the final consumer – to do the same. The commitment was made as part of wider efforts by the global energy industry…
Norway to Aid Iran's Fleet
Iran's tanker shipping company plans to expand cooperation with Norwegian suppliers of parts for oil tankers, Financial Tribune daily reported. National Iranian Tanker Company (NITC) head Sirous Kianersi quoted as saying that NITC has been in touch with Norwegian ship parts and equipment manufacturers in the last 20 years and we hope to keep up this collaboration. According to the report, the NITC plans to modernize its fleet of around 70 tankers…
TOP Ships Acquires MR Tanker
TOP Ships has acquired all of the outstanding shares of PCH77 Shipping Company Limited, a Marshall Islands company that owns a new building contract for M/T Eco California from an entity affiliated with the Company’s Chairman and Chief Executive Officer, Evangelos Pistiolis. Eco California is a high specification 50,000 dwt Medium Range (MR) product/chemical tanker under construction at Hyundai Mipo Dockyard Co., Ltd. in Korea.
Cosco Shipping Bids for Cogent
Cosco Shipping International has issued formal offer documents for its S$1.02 per share bid to privatise Cogent Holdings, reported Business Times. Cosco said that acceptances of the offer must be received no later than 5.30pm on Jan 5. Cosco Shipping had announced on Nov 3 that it is acquiring and privatising Cogent for S$488.07 million. Cosco Shipping had announced on Nov 3 that it is acquiring Cogent for S$488.07 million.
Rotterdam Port to be Zero-Emission by 2050
In 2050, the port of Rotterdam will still be a thriving centre of economic activity and employment. The main difference with today’s port is that this activity and this employment will be generated by industry and shipping sectors that release next to no emissions. Re-using waste will be the most natural thing in the world. The port will be even safer and healthier thanks to digitisation and new technologies. And there will be an even stronger focus on the ‘human dimension’.
German Shipowners Welcome EU Commitment to Global Regulation
The German Shipowners’ Association (VDR) welcomes the commitment of the EU Member States to the global climate protection strategy of the International Maritime Organization (IMO). VDR President Alfred Hartmann: “Our ships operate on the entire world's oceans; therefore, a global solution to reduce CO2 emissions is the only way to go. German shipowners are fully committed to the objective of the Paris climate agreement to limit global warming to below 2°C.