US Navy Ship Denied Entry into Hong Kong Port
China has denied a request for a U.S. warship to visit Hong Kong, the U.S. consulate in the Chinese city said on Tuesday, amid rising tension between Beijing and Washington over trade and a U.S. decision to sanction the Asian nation's military.The amphibious assault ship Wasp had been due to make a port call in the former British colony of Hong Kong in October, diplomatic sources said."The Chinese Government did not approve a request for a U.S.
Higher Vessel Rates Lift Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose for the fifth consecutive day on Tuesday supported by gains across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 16 points, or 1.1 percent, to 1,450 points.The capesize index was up 4 points or 0.2 percent at 1,868 points.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as
Lundin Petroleum Says Arctic Oil Test Points to Bigger Reservoir
Swedish oil firm Lundin Petroleum expects to increase its resource estimate for the Alta discovery in Norway's Arctic region following a successful two-month production test.Finding significant oil reserves in the Norwegian Arctic has been challenging for oil firms, but Alta is among the exceptions along with ENI's Goliat field and Equinor's Johan Castberg discovery.Lundin and its partners are considering…
No Delays to Implementing 2020 Sulphur Cap -IMO Official
The International Maritime Organization (IMO) will not delay implementing a reduction in the amount of sulphur in marine fuel in 2020, an IMO official said on Tuesday."I can categorically say there will not be a delay," said Edmund Hughes, the head of air pollution and energy efficiency at the IMO, during the Asia Pacific Petroleum Conference (APPEC) in Singapore.IMO, the United Nations' shipping agency…
Smarter Energy Policy Will Broaden Offshore Recovery
For the past few years, depressed commodity prices, stricter regulatory requirements and competition from onshore development at home and from other countries offering attractive offshore lease and royalty terms have had severe impacts on new exploration in the U.S. Gulf of Mexico. Thankfully, the tide appears to finally be turning.In August, Gulf of Mexico Lease Sale 251 drew increased competition for offerings and $178 million in high bids, $53 million more than previous sale held in March.
Wang Tak Launches Catamaran Passenger Ferry
A new 40m catamaran passenger ferry, Jiang Men, has been launched by shipbuilder Wang Tak in Hong Kong.The Incat Crowther designed Jiang Men is the third in a series…
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