Maritime Industry Top News
Decommissioning Gets into Deep Water in GoM
LOC Group’s Houston office provides perspective on decommissioning developments in the Gulf of Mexico.The Gulf of Mexico basin covers approximately 1.6 million km2 and is one of the most important petroleum production regions in the world. A significant portion of the area is shallow continental shelf waters. These areas were developed first by oil companies, with deeper water development only being undertaken once the ‘easier’ sites had been exploited.
Moody’s: U.S.-China Trade War Means 'Dip' in Global Growth
Credit rating agency Moody’s warned on Thursday that global economic growth was likely to slow in the next two years and that it expected the trade war between the United States and China to escalate further."We expect global growth to slow to under 3.0 percent in 2019 and 2020, from an estimated 3.3 percent in 2017-18," the agency said in a new report.It added that the recently imposed tariffs on…
Hapag Lloyd CEO Expects Global Shipping Demand Growth Over Next Two Years
CEO sees box shipping volumes growing 3-4% annually from 2018 to 2019, lower than sector experts estimate due to geopolitical risks.Hapag Lloyd also expects global demand to outstrip supply growth over next two years.CEO also says ship scrapping activity has been picking up in recent weeks after almost no activity earlier this year.
BREAKING: Tanker, Frigate Collision Shuts Down Norwegian Oil, Gas to Europe
Norway has been forced to close the Sture Oil Terminal near Bergen and has started closing down the nearby Kollsness gas-and-condensate terminal — a lifeline of heating gas to Europe — after an early morning collision between a $440-million frigate and an oil tanker.The frigate Helge Ingstad, now listing heavily to its port side, is loaded with torpedoes and weapons systems said to be unstable as a result of the collision.
OSVDPA Announces 2019 Membership Enrollment
Announcement also includes new membership policies and enrollment procedures.The Offshore Service Vessel Dynamic Positioning Authority (OSVDPA) is now accepting Individual and Corporate Membership Applications for the 2019 calendar year.Membership provides individuals and companies involved in the dynamic positioning industry the ability to advise the OSVDPA on the content and requirements of the OSVDPA DPO Certification Scheme.
German Shipyard Suspends Production after Saudi Export Ban
German shipbuilder Luerssen has suspended production of coastguard vessels it was building for Saudi Arabia and placed large numbers of staff on short hours, blaming uncertainty over whether Berlin would grant future weapons export licences.After dissident journalist Jamal Khashoggi was killed in Saudi Arabia's consulate in Istanbul, Chancellor Angela Merkel said Berlin would authorise no further weapons…
Steelhead Asia Appoints Marina Surzhenko as New Director LNG
Steelhead Asia, a unit of the Canadian LNG export project developer Steelhead LNG, said that Marina Surzhenko has taken the role of Director LNG.Based in Singapore…
Ofgem Grants Offshore Wind Licence to Dudgeon OFTO
The government regulator for gas and electricity markets in Great Britain Office of Gas and Electricity Markets (Ofgem) has granted TC Dudgeon OFTO plc a licence…
Panoro Energy Buys OMV Tunisia
London-based E&P company Panoro Energy said its Norwegian subsidiary Panoro Tunisia Production has reached an agreement with OMV Exploration & Production GmbH to…
Poland Aims 8 GW of Offshore Wind
Poland has announced ambitious plans to develop 8 GW of offshore wind by 2035 and the country is working on laws that could support this project.Polish State Secretary…
Ulstein Verft to Finalise Color Hybrid
The hull of the 'Color Hybrid', European cruiseferry line Color Line's next flag ship that will be servicing Sandefjord-Strömstad, has arrived Ulstein Verft for…
China Navigation Company Opens Shanghai HQ
Swire Group’s shipping arm China Navigation Company establishes presence in Shanghai where it was founded 147 years ago!The China Navigation Company (CNCo) opened…
ClassNK Awards ISO14001 Certification to ONE
The Japanese global transport company Ocean Network Express (ONE) has been awarded the International Organization for Standard ization (ISO) 14001:2015 certification…
Preventing Maritime Vessel Explosions – The Role of the Marine Chemist
With advances in technology, increased regulatory requirements for training, and an industry that has been committed to improving working conditions, especially those associated with confined space entry and fire prevention, why are we still seeing maritime related fires and explosions that often include serious injury or loss of life? HistoryFollowing the First World War, as cargo vessels, particularly tank ships…
SunStone Orders Third Expedition Cruise Vessel at CMHI Yard
Miami-based SunStone Ships has declared option number two at CMHI shipyard after signing a long-term charter contract with Victory Cruise Line for the vessel, with…
Sempra Energy Signs New Mexican LNG Terminal
Sempra Energy, the US group that aims to build a liquefied natural gas (LNG) export facility near Ensenada, Mexico, to serve customers in Asia moved closer to becoming…
Genco Shipping Completes Acquisitions of Six Vessels
U.S. headquartered drybulk shipowner Genco Shipping & Trading said that it has completed the acquisition of a total of six high specification, fuel efficient Capesize…
Diana Shipping Sells Panamax Dry Bulk Vessel Triton
Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement (MoU) to sell to an unaffiliated third party,…
Safe Bulkers Improves Bottomline
Monaco-based Safe Bulkers said that its net revenues for the three months months period ended September 30, 2018 increased by 34% to $50.1 million from $37.3 million…
Eamonn O'Reilly Re-elected as Chairman of ESPO
Eamonn O’Reilly was unanimously re-elected as Chairman following a vote of European Sea Ports Organisation (ESPO)'s General Assembly in Brussels. E. O’Reilly has…
