Oil Tanker Tows Disabled Sailboat to Safety
A Singapore flagged oil tanker came to the rescue of four French sailors whose sailboat became disabled by broken sails and engine failure approximately 225 miles east of Cape May, N.J.
Italian Firms Partner on Maritime Cybersecurity
Marine automation systems developer Seastema said it has signed an agreement with cybersecurity firm Haruspex to develop cybersecurity solutions as an answer to…
Baltic Index Slips to Two-week Low
The Baltic Exchange's main sea freight index on Thursday fell to its lowest level in two weeks, pulled down by falling rates for capesize and panamax vessels.The overall index, which tracks rates for ships carrying dry bulk commodities, slid 26 points, or 1.9 percent, to 1,347 points.The capesize index lost 52 points, or 2.5 percent, to end at 2,038 points."Extremely few cargoes out of west Australia, hence the general activity level for Pacific market this week been very low," ship broker Fearn
Oil Exploration Is Ramping Up Off Norway
Oil firms are expected to drill 40-50 exploration wells off Norway this year compared to 36 wells drilled the previous year, the Norwegian Petroleum Directorate said on Thursday.The Norwegian continental shelf still held an estimated 4 billion cubic meters (25.2 billion barrels) of oil equivalents in undiscovered petroleum resources, with two-thirds located in the Arctic Barents Sea, it added.Half of estimated undiscovered resources in the Barents Sea, however, are located north of the areas ope
China to Cut US Oil Imports Amid Trade Spat
Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said.Beijing has put U.S. energy products, including crude oil and refined products, on lists of goods that it will hit with import taxes in retaliation for similar moves by Washington.Beijing did not specify when it will impose a 25 percent tax on oil…
Norway Oil Workers Threaten to Strike
Some 2,250 workers on Norwegian offshore oil drilling rigs and in drilling and catering services on oil producing platforms could go on strike this summer after rejecting a proposed wage deal, the Safe labor union said on Thursday.Industri Energi, the largest labor union representing drilling workers, last month agreed to a deal, while the smaller Safe said it would ask its members to vote on the offer made by the Norwegian Shipowners' Association.A strike could hit oil companies' exploration ef
ExxonMobil, Hess Announce Oil Discovery Offshore Guyana
ExxonMobil and the Hess Corporation announced an eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The companies said approximately 78 meters of high-quality, oil-bearing sandstone reservoir was encountered. The well was drilled to 5,504 meters depth in 1,940 meters of water by the Stena Carron drillship on May 25, 2018.
LNG Imports Climb at CNOOC's Zhejiang Terminal
CNOOC's Zhejiang terminal will receive 5 million tonnes of liquefied natural gas in 2018 up from 3.58 million tonnes last year, CNOOC Gas and Power Co said on Thursday.The Zhejiang terminal located in Ningbo in Zhejiang province has unloaded 33 LNG tankers as of June, or 2.3 million tonnes, up 94 percent from the same period last year, CNOOC Gas and Power said.Storage tanks linked to the terminal are nearly full, CNOOC said.The terminal is a supply hub of LNG for Zhejiang province in eastern Chi
Cruise Ship Construction: China Rising
China earns cruise newbuild business, aims for ship financeWhile China has steadily built shipbuilding market share, cruise ship construction – more specifically mastering the logistical complexities inherent in cruise ship design, outfit and construction – has proved elusive. But it appears that Chinese shipbuilders have turned the corner, with contracts signed for the first cruise newbuilds. We were in Tianjin…
Danaos Corporation Refinances USD 2.2bln in Debt
Danaos Corporation, a leading international owner of containerships, has reached an agreement with certain of its lenders currently holding approximately $2.2 billion of debt maturing on December 31…
Closer Look at Interpretation of Maritime Law
The challenges posed by maritime crime are bringing about discussions on legal issues involving the interpretation and implementation of maritime law. As a result…
MOL Snaps Up Adriatic Gas via Croatian Unit
MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production…
Morocco Holds Port Emissions Training
How can ports cut emissions to ensure cleaner air and contribute to the battle against climate change? An International Maritime Organization (IMO) training course…
Shippers Push to Undermine EU Ship Recycling Regulation
The EU member states’ experts on ship recycling met in Brussels to discuss the latest developments, six months ahead of the application of the 2013 Ship Recycling Regulation.
Maritime Cook Islands Highlights “Positive Progress” to Tokyo MOU White List
The Cook Islands flag, operated by ship registry Maritime Cook Islands (MCI), has shown positive flag state performance, as reported in the latest report on Port…
Protecting Marine Life from Ship Noise
Ship noise has been shown to be the main contributor to underwater noise on a global scale, with recognized negative impacts on marine life, said a press release…
AAM, Puget Sound Express Launch the 'Saratoga'
All American Marine, Inc. and the Hanke family of Puget Sound Express announced the launch of the Saratoga, the newest member of the PSE whale watching fleet. The 73-foot…
Partners Unveil New Digital Operations Tool
Navigation solutions provider Marine Press, environmental product and services company Total Marine Solutions and maritime software and technology firm Brenock have…
Liberia Backs Australia’s Push for IMO Reform
The Liberian Registry says its supports Australia's call for the International Maritime Organization (IMO) to reconsider transparency and the role of industry bodies in the organization.As one of the world's largest flag states, Liberia is now the largest to support the push, which will lead to a submission to the IMO Council meeting in July calling into question the existing role of the IMO Council and the IMO Assembly…
Oil Traders Ready for Musical Chairs as China Tariffs Loom
Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude.China, which has bought an average 330,000 barrels per day (bpd) of U.S. crude oil this year, is threatening to place a 25 percent tariff on various U.S. commodity exports, including crude oil, although it is so far unclear when such a measure would come in place.The decision came in response to U.S.
