Triyards Loses Two Shipbuilding Contracts
Triyards Holdings, the offshore marine division of Ezra Holdings, has swung deep into the red following the termination of two shipbuilding contracts worth some $51 million. "The Board of Directors of Triyards Holdings wishes to announce that its wholly owned subsidiary, Saigon Offshore Fabrication and Engineering Limited, has received notices of termination of the two shipbuilding contracts dated…
Guyana Government Goes with ExxonMobil
Guyana's Minister of Natural Resources, Raphael Trotman said while there is no perfect contract, the government is comfortable with the terms and conditions spelt out in the Stabroek Petroleum agreement between itself and ExxonMobil and prefers a long-term, stable relationship with one exploration company rather than several. “We recognised that we had with us a company that had made a discovery, had a binding contract with the government and people of Guyana which had been signed in 1999…
BSEE Proposes to Ease Offshore Drilling Safety Rules
In response to a Presidential Order to reduce undue burden on industry, the Bureau of Safety and Environmental Enforcement (BSEE) completed a comprehensive review of the Production Safety Systems regulations. The proposed regulations will be published Friday in the Federal Register. The announcement describes the proposed revisions and invites public comment on the proposal. “I am confident that this…
Pankaj Khanna Appointed As CEO of Ocean Rig
Pankaj Khanna has been appointed as President and Chief Executive Officer of Ocean Rig UDW, a global provider of offshore deepwater drilling services, effective January 1, 2018. Khanna is 47 years old with 29 years of varied experience in the maritime & offshore industry. He last served as Chief Executive Officer of Pioneer Marine Inc, a drybulk company that he founded in 2013. Prior to his position at Pioneer Marine Inc Khanna served as Chief Marketing Officer at Ocean Rig UDW Inc.
Adoption of LNG as Marine Fuel Significantly Accelerated in 2017
Titan LNG says that the stage has been set for a push in the adoption of LNG as a marine fuel beyond the tipping point. The order book for LNG-powered ships grew substantially, the LNG bunkering infrastructure is maturing and the pricing of LNG has become structurally competitive versus MGO. In 2017 around 11% of all new build contracts were LNG powered ships, a trend that we expect to continue during 2018.
Australian Navy Seizes Drug Haul in Middle East
The crew of the Royal Australian Navy frigate HMAS Warramunga have spent the Christmas season hard at work, spending nearly three days seizing almost eight tonnes of hashish and 69 kilograms of heroin from drug smugglers while conducting maritime security operations in the Arabian Sea. Warramunga intercepted and boarded three suspect vessels between 27 and 29 December 2017, in an operation planned…
Port Chaplain Made MBE
Apostleship of Sea (AoS) port chaplain Reverend Roger Stone has been awarded the British Empire Medal in the Queen’s New Year’s Honour’s List 2018 for services to the pastoral care of seafarers. Roger has served as port chaplain for the seafarers’ charity since June 2010 and has provided pastoral, spiritual and welfare support to hundreds of crew members who arrive on ships at ports along the South Coast of England.
Yang Ming Announces Subsidiary in Thailand
Yang Ming Marine Transport Corporation will establish a subsidiary in Thailand - Yang Ming Line (Thailand) Co., Ltd. The new company will provide all services starting 1st January 2018. Mr. Derek Chen is officially appointed as its President. Thailand is located in a strategical position in the middle of Southeast Asia with strong links to neighboring countries, whose economy has been growing steadily over the years. It is expected to see more rapid expansion of the market in the near future.
Tankers Load After Libyan Oil Pipeline Fix
Repairs have been finished on a Libyan oil pipeline damaged in a suspected attack five days ago and production is restarting gradually, engineers said. The blast and resulting fire on Tuesday about 130 km (80 miles) south of the Es Sider terminal caused a drop in output estimated by the National Oil Corporation (NOC) at 70,000-100,000 barrels per day (bpd). An engineer from the company that operates the pipeline…
N. Korea Oil Embargo: S.Korea Seizes Panama-Flag Ship
South Korean authorities have seized a Panama-flagged vessel suspected of transferring oil products to North Korea in violation of international sanctions, a customs official said on Sunday. The seizure was the second to be revealed by South Korea within a few days, as the United Nations steps up efforts to squeeze essential oil supplies to the reclusive North following its nuclear or ballistic missile tests.