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Important Supplier News

04 Dec 2023

India Resumes Imports of Venezuelan Oil

Š Fotos von Schiffen / Adobe Stock

Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance RELI.NS set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country, people familiar with the matter said.Trade resumed between the OPEC producer and the second largest destination for its oil after Washington in October temporarily lifted sanctions banning Venezuelan oil exports, prompting a flurry of spot sales of crude and fuel through middlemen and traders…

06 Jul 2022

West Should Do More to Unblock Ukraine's Ports, Official Says

Š Nichita / Adobe Stock

Western partners should do more to help unblock Ukraine's Black Sea ports to release exports of grain, metals and mining products, a Ukrainian official told Reuters on Tuesday, warning the country's finances were increasingly precarious.Logistics problems linked to the war with Russia, notably at seaport Odesa, hit exports, causing currency inflows to Ukraine to drop to around $2.5 billion per month from around $7 billion before the war, Rostyslav Shurma, deputy head of President Volodymyr Zelenskiy's office…

15 Feb 2019

EIA: Azerbaijan Surges in Natural Gas

Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets, the US Energy Information Administration said in its report.The EIA’s report notes that Azerbaijan’s exports of natural gas are poised to become a more significant part of the country’s economy.Azerbaijan produced about 600 billion cubic feet (Bcf) of dry natural gas in 2017 and exported about 210 Bcf, according to EIA’s International Energy Statistics.“Azerbaijan is planning to expand its natural gas exports to Europe. European Union leaders consider connecting Azerbaijan’s Shah Deniz natural gas field to Southern Europe to be a step toward the strategic goal of diversifying Europe’s natural gas supply.

01 Nov 2018

Wärtsilä Sells Pumps Business to Solix Group

Finnish technology group Wärtsilä has divested its pumps business to Solix Group, a Scandinavian investment company with offices in Copenhagen, Denmark and Malmö, Sweden.According to a press release from the marine technology giant, Wärtsilä Pumps has belonged to the Wärtsilä Marine Solutions organisation and became part of the company along with the acquisition of Hamworthy in 2012. The Wärtsilä Pumps business recorded sales of approximately 50 MEUR in 2017.The divestment will enable Wärtsilä to devote greater focus to its Smart Marine vision. This is based on the rapid introduction of new technologies, which are creating unprecedented levels of efficiency and cost savings.

01 Oct 2018

Us to Be 'Strong Supplier' of Compliant Marine Fuels

Owing to its booming shale industry, the United States is likely to become an important supplier of low-sulphur marine fuels ahead of major new emissions regulations in 2020, Vienna-based consultancy JBC Energy said on Monday."The (United States) is likely to emerge as a strong supplier of compliant fuels in the coming quarters in the context of the IMO sulphur spec switch," said JBC.The U.N. International Maritime Organization (IMO) is introducing new rules on marine fuels from 2020…

28 Jun 2017

US Navy Orders First ‘Flight III’ Destroyer

HII’s Ingalls Shipbuilding division will build Jack H. Lucas (DDG 125), the first “Flight III” ship in the U.S. Navy’s Arleigh Burke class of destroyers. (HII rendering)

Huntington Ingalls Industries (HII) said its Ingalls Shipbuilding division has received a contract modification to incorporate the “Flight III” upgrades to the Arleigh Burke-class (DDG 51) guided missile destroyer Jack H. Lucas (DDG 125). The ship is the fifth of five destroyers the company was originally awarded in June 2013. “We have proven our success in the DDG 51 class over the past 30 years, and our shipbuilders are ready now to build the first Flight III ship,” Ingalls Shipbuilding President Brian Cuccias said. “This will be the 35th Aegis destroyer we will build for the U.S.

30 Sep 2015

Teekay Secures $1bln from Chinese Bank

Teekay Corporation announced today it has entered into a framework cooperation agreement with the Export-Import Bank of China (CEXIM) for up to $1 billion in new loan facilities. The loan facilities would be made available to Teekay and its subsidiaries, including Teekay LNG Partners L.P., Teekay Offshore Partners L.P. and Teekay Tankers Ltd., to finance the construction or conversion of vessels from shipyards in China over the next three years. “We are very pleased to announce the signing of this framework agreement in Beijing, China as it further strengthens our existing relationship with CEXIM and represents yet another source of capital for the Teekay group,” said Vince Lok, Teekay Corporation's Executive Vice President and Chief Financial Officer.

23 Sep 2015

Report Reveals Missing Value Link Offshore

A recent survey conducted by Trelleborg’s offshore operation paints a positive industry outlook with decision makers taking a long term ‘value-add’ view. Original equipment manufacturers (OEMs) rated product quality, responsiveness and skills above cost as the most important supplier attributes. In fact, only 4 percent cited cost as a primary driver in determining preferred partners. However, there is a missing value link, as in practice cost savings appear to be taking priority.

24 Jul 2015

Pemex to Ship 6 mln Barrels of Crude to Japan

Mexico's Pemex said on Friday it had agreed to ship six million barrels of its light crude to Japan's largest refinery over the next six months, as the state-run oil company seeks to further develop its ties with Asia. The shipments of Isthmus crude will go via six cargoes between this August and January 2016 to JX Nippon Oil & Energy Corp. Pemex already shipped about 4 million barrels to JX Nippon in the first half of the year. Pemex had been negotiating with buyers in Japan and South Korea earlier this year about the chloride content of its crude, and said it would offer discounts if the level of the chemical that can cause corrosion was higher than usual. The crude will be shipped from Pemex's Salina Cruz terminal on the southern Pacific coast of Mexico.

29 Sep 2010

Alfa Laval Celebrates 125 Years

During 2010, Alfa Laval has been celebrating a milestone – creating better everyday conditions for people in over 20 industries with a broad product portfolio focused on three key technologies: heat transfer, separation and fluid handling. The De Laval Separator Company was established in the USA in 1885. A factory to make the separators was built in Poughkeepsie, N.Y. and sales skyrocketed by the early 1900’s. Soon the De Laval name became iconic in farming communities across America, and the separator was as common on farms as the cows. The Poughkeepsie factory remained operational until 1990. The company persevered through prosperity…