DNV GL’s Carlsen Wins OTC Achievement Award
The award is in recognition of his “outstanding, significant and unique achievements, and extensive contributions” to the offshore industry, and is presented at the Annual OTC Dinner Sunday, May 4. The defining moment of his career came in 1980, as a direct consequence of the tragic accident of the semisubmersible drilling rig, “Alexander Kielland” that cost the lives of 123 workers in severe weather…
DW: US Should be Careful with Strategic Petroleum Reserve
Should Russia occupy more Ukrainian soil and sustain the already tense relations with the West, the U.S. government may decide to release crude from its Strategic Petroleum Reserve (SPR) – perhaps 500,000-700,000 barrels per day as suggested by the Financial Times. Such a move would undoubtedly hurt Moscow economically – not to mention several of the U.S.’ allies (notably Saudi Arabia) – as crude oil prices would probably drop below the $100 per barrel mark.
Eleven Missing After Hong Kong Collision
Eleven crew of a Chinese cargo ship are missing following a collision with a large container ship in the waters off Hong Kong on Monday, authorities said. Hong Kong…
Chinese Billionaire Backs Nicaragua Canal Plan
Wang Jing, the enigmatic businessman behind Nicaragua's $50 billion Interoceanic Grand Canal, shrugs off scepticism about how a little-known entrepreneur can be…
USAF Rescue Far From Land Chinese Sailors
Two Chinese sailors died and six are missing after their boat caught fire and sank in the Pacific Ocean, the U.S. Air Force said on Sunday. The boat sank on Friday…
Sembcorp Marine Results Drags Singapore Index Lower
Singapore shares edged lower on Monday, dragged down by losses in Sembcorp Marine Ltd which hit a six-week low after posting lower-than-expected first-quarter earnings.
Chinese South China Sea Drilling Illegal Says Vietnam
Vietnam says China's plan to move its first deep-water drilling rig into the disputed South China Sea, one of Asia's most volatile hotspots, is illegal and has called…
BAE Systems Awarded USS Bulkeley Contract Modification
U.S. Department of Defence, Navy informs that contract modification has been awarded to BAE Systems Norfolk Ship Repair, Norfolk, Virginia. The award is a US$11…
National Coast Guard Museum: Breaking Ground
With Coast Guard Cutter Eagle dressed overall as a backdrop, notables including Coast Guard Commandant Adm. Bob Papp, broke the ground for construction of the future National Coast Guard Museum.
Aker Philadelphia Shipyard Ratchets Up Q1 2014 Profit
Aker Philadelphia Shipyard (AKPS) has reported its highest ever quarterly result, with an EBITDA of USD 24.2 million and net income of USD 17.8 million, an increase relative to Q1 2013 of 27% and 48%…
Rickmers Maritime Q1 2014 Profit Slips a Little YoY
Container ship owners & charterers out Rickmers Maritime describe a stable set of results in the first quarter of 2014. Charter revenue decreased slightly by 4%…