German Shipowners Welcome EU Commitment to Global Regulation
The German Shipowners’ Association (VDR) welcomes the commitment of the EU Member States to the global climate protection strategy of the International Maritime Organization (IMO).
Rotterdam Port to be Zero-Emission by 2050
In 2050, the port of Rotterdam will still be a thriving centre of economic activity and employment. The main difference with today’s port is that this activity and…
Cosco Shipping Bids for Cogent
Cosco Shipping International has issued formal offer documents for its S$1.02 per share bid to privatise Cogent Holdings, reported Business Times. Cosco said that…
TOP Ships Acquires MR Tanker
TOP Ships has acquired all of the outstanding shares of PCH77 Shipping Company Limited, a Marshall Islands company that owns a new building contract for M/T Eco…
Norway to Aid Iran's Fleet
Iran's tanker shipping company plans to expand cooperation with Norwegian suppliers of parts for oil tankers, Financial Tribune daily reported. National Iranian…
8 Energy Firms Commit to Reduce Methane Emissions
BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall have committed to further reduce methane emissions from the natural gas assets they operate around the world.
Milaha Rolls Out Sri Lanka-Bangladesh Feeder Service
Qatar-based maritime transport and logistics conglomerate Milaha is launching a direct feeder service between Sri Lanka and Bangladesh. "Milaha has announced the…
MPC Container Ships Acquires Fleet Worth $130
The Oslo, Norway-based MPC Container Ships AS has entered into a commitment to acquire a fleet of feeder container vessels with a total purchase price of USD 130 million.
Allard Castelein Reappointed as CEO of Rotterdam Port
Allard Castelein is reappointed as Port of Rotterdam Authority CEO. He will be serving a second four-year term as CEO of the Port of Rotterdam Authority. Castelein…
Petrobras Seeks USD 6.8bln Valuation for New IPO
Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras)will seek a valuation of up to 22 billion reais ($6.8 billion) for its fuel distribution unit in…
National Security Cutter Midgett Launched
Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division has launched its eight National Security Cutter (NSC) built for the U.S. Coast Guard. NSC Midgett (WMSL 757) was launched on November 22, 2017, and will be christened during a ceremony on December 9. The ship is named to honor John Allen Midgett, who was awarded the Silver Cup by the U.K. Board of Trade in 1918 for the rescue of 42…
BW LPG Sees Better Market Sentiment for 2018 vs 2017
Natural gas shipper BW LPG expects a better freight market in 2018 than in 2017 and will not make any new long term contracts below $20,000 per day for its very large gas carriers (VLGC), CEO Martin Ackerman said on Thursday.
Fredriksen Raises Stake in Debt Collector Axactor
Shipping and seafood billionaire John Fredriksen consolidated his position as the top shareholder in debt collector Axactor by buying more stock in the firm on Thursday…
Catcher FPSO to Add about $200 mln in EBITDA/year
BW Offshore CEO Carl Arnet in FPSO (floating production, storage and offloading) firm BW Offshore Ltd says the Catcher field project in the British North Sea will add about $200 mln in annual EBITDA to its results when it comes on stream in December 2017. ** BW is also developing Dussafu field in Gabon.
Total CEO Not Worried over Possible Norway Fund Capital Exit
The possible exit of Norway's sovereign wealth fund from the capital of French oil and gas major Total will take place over time and is thus unlikely to hurt Total's stock price, Chief Executive Officer Patrick Pouyanne said on Friday. "I can tell you that, obviously, the managers of the fund who we know very well...are not going to sell in a manner that would lead to a stock-price collapse," Pouyanne told shareholders during an annual gathering in Paris.
A BP North Sea field to test U.S. policy on Iran
A small gas field on the edge of the British North Sea could become a litmus test for U.S. policy towards Iran. London-based BP this week agreed to sell to North…
Novatek Aims to Launch Yamal LNG on Dec 8
Russia's Novatek has provisionally set Dec. 8 as the official launch date for its Yamal LNG plant, two sources with direct knowledge of the event planning told Reuters. Novatek's partners on the project are France's Total, the China National Petroleum Corp (CNPC) and China's Silk Road Fund. The project, on the Yamal Peninsula above the Arctic Circle, will be Russia's second LNG plant after Sakhalin-2 on the Pacific island of Sakhalin.
Marlink Buys Majority Stake in OmniAccess
Apax Partners backed Marlink said it has signed a definite agreement to acquire a majority stake in fellow maritime VSAT services firm OmniAccess. The transaction remains subject to customary regulatory approval and closing is expected in the first half of 2018. OmniAccess’ existing management team will remain unchanged and continue to keep a significant shareholding in the company. OmniAccess will remain a stand-alone company…
