Hurricane Harvey Strengthens, Threatens US
Hurricane Harvey intensified early on Friday into potentially the most powerful hurricane to hit the U.S. mainland in more than a decade, as authorities warned locals to shelter from what could be life-threatening winds and floods. Harvey is set to make landfall late Friday or early Saturday on the central Texas coast where Corpus Christi and Houston are home to some of the biggest U.S. refineries. Oil and gas operations have already been disrupted and gasoline prices have spiked.
S-Oil, Petronas Ink Long-term LNG Deal
South Korea's third-largest refiner S-Oil Corp signed a long-term liquefied natural gas (LNG) supply contract with Malaysia's Petronas for 15 years starting from next year…
Second Body Recovered from USS McCain
U.S Navy and Marine Corps divers have recovered and identified a second body in the search for ten sailors missing after a collision between a guided-missile destroyer and merchant vessel near Singapore earlier this week, the U.S. Navy said on Friday. The USS John S. McCain collided with the merchant tanker in waters near Singapore and Malaysia on Monday, which led to an international search-and-rescue operation for the missing sailors.
Asia VLCC Rates Fall to Four-year Low
Freight rates for very large crude carriers (VLCCs) on Asian routes show little sign of reviving although Hurricane Harvey, which threatens to ravage the U.S. Gulf coast oil refining industry over the weekend, could provide a fillip, brokers said. That came as average weighted VLCC freight rates on all routes sank to their lowest in four years this week to around $9,000 per day. Rates are even lower…
Huntington Ingalls Steel-Cut for Aircraft Carrier Enterprise
Huntington Ingalls Industries has cut a 35-ton steel plate at its Newport News Shipbuilding division to kick off advance construction of the aircraft carrier Enterprise (CVN 80).
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