PGNiG Acquires Duva Field in Norway
PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company (PGNiG), has obtained a final administrative consent to purchase additional 10% interests in the…
Hamburg Unveils 1st Phase of Elbe Expansion
Port of Hamburg announced that mega-ships will from now on find it easy to pass through the Elbe fairway.Vessels with a combined width of up to 98 meters can now…
International Seaways Signs Refi Deal
New York-headquartered product tanker company International Seaways has closed on senior secured credit facilities worth a total of USD 390 million.The crude oil…
Poseidon Readies $140Bn Shipping Loan
With the signing by the France-based international lender to global shipping BNP Paribas and the Swiss multinational investment bank Credit Suisse, Signatories of…
MOL in Restructuring Excercise
Japanese shipping major Mitsui O.S.K. Lines (MOL) has unveiled a number of new restructuring measures effective April 1, 2020.According to a press release, the marine…
Gasum to Bunker Equinor's Tankers
Finnish utility Gasum has signed an agreement with Norwegian energy giant Equinor for the delivery of liquefied natural gas (LNG) to the latter’s crude shuttle tankers.The…
Japanese Warship to Patrol Oil Lifeline
A Japanese destroyer left for the Gulf of Oman on Sunday amid simmering Middle East tension to guard sea lanes that supply nearly all the oil that powers the world's third-biggest economy."Thousands of Japanese ships ply those waters every year including vessels carrying nine tenths of our oil. It is Japan's lifeline," Japanese Prime Minister Shinzo Abe told the crew at Yokosuka naval base near Tokyo…
Trieste: 60th Anniversary of Deepest Dive
Plunging into the deep, dark abyss of the Pacific Ocean’s Mariana Trench, U.S. Navy Lt. Don Walsh and Swiss engineer Jacques Piccard heard a loud cracking sound in their vessel—the bathyscaphe Trieste, which the Office of Naval Research (ONR) purchased for scientific observations.Already 30,000 feet below sea level, Walsh and Piccard faced the ultimate decision—risk their lives to become the first people to travel to the deepest part of the ocean…
Japan: Ocean Release for Fukushima Water
A panel of experts advising Japan's government on a disposal method for radioactive water from the destroyed Fukushima nuclear plant on Friday recommended releasing it into the ocean, a move likely to alarm neighboring countries.The panel under the industry ministry came to the conclusion after narrowing the choice to either releasing the contaminated water into the Pacific Ocean or letting it evaporate - and opted for the former.
US Lifts Sanctions on COSCO's Dalian Unit
The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington.President Donald Trump's administration on Sept. 25 blacklisted two units of COSCO, named after the northeastern Chinese port of Dalian.
IMO2020: Low Sulfur Fuel Potential Pitfalls
(This is excerpted from Maritime Reporter & Engineering News' January 2020 "The Path to Zero" column.)Are the world’s ships’ engines ready for IMO compliant very low sulfur fuel? That’s a wide open question as ship owners step to the end of the preparatory gang-plank on January 1, 2020 when 0.5% very low sulfur distillate fuels (VLSF) have to replace residual heavy fuel oil (HFO) containing 3.5% sulfur.You…
Baltic Index Down for 8th Straight Week
The Baltic Exchange's main sea freight index fell on Friday, with rates for the capesize segment slipping into the negative for the first time ever on lower demand and as the coronavirus outbreak muted activity.The Baltic index, which tracks rates for capesize, panamax and supramax vessels to ferry dry bulk commodities, fell 11 points, or 2.2%, to 487 — its lowest level since April 2016.The index has lost over 10.5% this week…
China Virus May Delay Scrubber Retrofits
Shipping companies may face delivery delays of vessels fitted with exhaust gas filtering equipment that complies with anti-pollution rules that kicked in this year due to the impact from the virus outbreak in China, shipping sources said on Friday.A Mitsui OSK Lines executive said many vessels were in Chinese docks to get so-called scrubbers installed to meet the new emissions rules but with four Chinese provinces asking companies to extend the Lunar New Year holiday by a week, to Feb.
Partners to Expand Pakistan LNG Inport Terminal
Excelerate Energy announced it has agreed with partner Engro Elengy Terminal Ltd. (EETL) to expand the EETL liquefied natural gas (LNG) import terminal in Port Qasim, Pakistan.Under the heads of agreement (HOA), Excelerate will exchange its existing floating storage and regasification unit (FSRU) Exquisite with a newbuild FSRU, Hull 2477, which is currently under construction at South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) shipyard and due to be delivered in April 2020.
Norwegian Police Raid Teekay Office Over Waste Export
Norway's national economic crime unit raided the local office of international shipping company Teekay Offshore this week on suspicion of illegally exporting waste…
JFLCO Acquires Global Marine Group
British-headquartered specialist provider of submarine cables Global Marine Group (GMG) has been acquired by an investment affiliate of private equity firm J.F.
Bahri Posts 172% Surge in Q4 Net Profit
The National Shipping Company of Saudi Arabia (Bahri) has reported strong financial results for the quarter and the full year ended December 31, 2019, underpinned…
Ørsted Eyes Carbon-Neutrality by 2025
The global leader in offshore wind Ørsted A/S will become carbon neutral by 2025. "This will make Ørsted the first major energy company to reach net-zero emissions…
EGS Connects Dutch Deepsea Terminals
The intermodal service provider European Gateway Services (EGS) offers network of connections between all deepsea terminals Maasvlakte Rotterdam with Nuremberg in…
Eidsvaag Converts PSV to Fish Feed Carriers
Norwegian company that specializes in the distribution of fish feed Eidsvaag has contracted Damen to convert platform supply vessels (PSV) into highly demanded fish…
