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…
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.
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.
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…
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.
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…
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.
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…
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.
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.
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…
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.
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…
CMA CGM Appoints Rodolphe Saade as Chairman
Jacques Saadé, founder of the shipping company CMA CGM Group, now the world's third largest container company, has resigned as president. His son Rodolphe Saadé becomes CEO of a group. "In accordance with the wish of Jacques Saadé and after having reunited the positions of CEO and Chairman of the Board, the Board of Directors has decided to appoint Rodolphe Saadé to the position of Chairman of the Board and Chief Executive Officer of the CMA CGM Group…
CMA CGM Reports Solid Results for Q3
CMA CGM, the world’s third-largest container shipping group, posted a third-quarter net profit of $323 million, up from $219 million in the previous quarter and a $268 million loss a year earlier. During the third quarter, volumes carried by CMA CGM experienced a strong growth of +11.6% in comparison to Q3 2016. During the period, CMA CGM carried close to 5 million containers, a record figure. This increase can be explained by the strong growth in volumes carried through OCEAN Alliance…
Propeller Club elects RADM Whitehead as International President
At its 91st annual convention last month, the International Propeller Club of the United States elected and installed its leaders for the coming year and beyond. Representatives of the Club’s more than 75 chapters from around the world elected Rear Admiral Joel Whitehead, US Coast Guard (retired) to a two-year term as International President. RADM Whitehead is a member of the Club’s Port of New Orleans chapter.
Diana Shipping New TC Contract with SwissMarine
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Norfolk. The gross charter rate is US$13,250 per day, minus a 5% commission paid to third parties, for a period of minimum 21 months to maximum 24 months.
Wärtsilä Introduces its Smart Marine Ecosystem Vision
The smart technology group Wärtsilä is at the forefront of harnessing the changes taking place in the shipping industry to deliver value and optimisation for its customers. By orchestrating these developments through the use of high levels of connectivity and digitalisation, Wärtsilä intends to lead the industry’s transformation towards a Smart Marine Ecosystem. “The world is moving towards a future that is more and more connected, and nowhere is this more apparent than in the shipping sector.
APM Terminals Inland Services Expands in Pune, India
APM Terminals Inland Services inaugurated its new state-of-the-art Inland Container Depot and supply chain solutions facility designed to serve one of India’s fastest-growing hubs for industrial development and manufacturing in the Pune district in Maharashtra state. The new facility, which is over 12 acres in area, can handle more than 60,000 containers annually. Services include Customs clearance…
Brazil Funds Training on ShipConstructor & 3D Design
ShipConstructor Software Inc. (SSI) says it is excited to see that the Brazilian Government has funded training on SSI’s ShipConstructor software. Below is background to that decision. Brazilian shipyard Estaleiro Atlântico Sul (EAS) is one of a select group of bright lights in the Brazilian shipbuilding industry. With the downturn in oil prices and the impact of “Operation Car Wash” causing the cancellation of Petrobras projects…