Frontline Expects Greater Oil Tanker Demand
Increased scrapping of older oil tankers and the potential for higher output of OPEC crude are likely to boost vessel demand and thus rates, Oslo-listed shipper…
Petronas Buys Stake in Canadian LNG Export Project
Malaysia's state-owned oil and gas company Petroliam Nasional Bhd said on Thursday it is buying a 25 percent stake in a Canadian liquefied natural gas (LNG) export project, nearly a year after cancelling its own planned terminal.The company, known as Petronas, scrapped plans to build a $36 billion ($28 billion) LNG export terminal in British Columbia last year over concerns of a glut in the market that led to depressed fuel prices.But surprisingly strong demand from China…
US Coast Guard to hold change-of-command ceremony
U.S. Coast Guard Commandant Adm. Paul F. Zukunft will be relieved by U.S. Coast Guard Atlantic Area Commander Vice Adm. Karl L. Schultz on June 1, 2018, at 1100 hours at U.S.
SUNY Maritime mourns the Loss of Professor James McKoy
The word has been passed that long tenured and much loved and respected SUNY Maritime Professor James "Jim" McKoy has passed away after a long illness. I am sad…
Baltic Index Snaps Losing Streek
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday snapping eleven sessions of losses, supported by stronger capesize vessel rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 48 points, or 4.6 percent, at 1,090 points.The capesize index gained 125 points, or nearly 10 percent, to 1,401 points, after falling for eleven consecutive sessions.Average daily earnings for capesi
Offshore Oil: Tullow eyes Ghana Assets
Tullow Oil is interested in new oil blocks off Ghana's coast as part of the British explorer's plans to consolidate its operations in the West African nation, Chief Executive Paul McDade said.
Cochin Shipyard Gets Contract for Three
Cochin Shipyard Ltd. signed an agreement with the government of Kerala for the construction of three marine ambulance boats for the fisheries department.
Evac to Acquire Cathelco
Evac announced it will acquire Cathelco, a manufacturer of equipment for ships and offshore installations, a synergistic move for Evac as Cathelco customers include Evac’s current marine and offshore customer groups, including ship owners, shipyards, fleet managers, rig owners and operators, oil companies, navies, and designers. The acquisition gives Evac the opportunity to further expand its cleantech solution portfolio to its customers with the addition of new systems…
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