Eni Ramping up Production at Zohr Field
Production from Egypt's huge Zohr offshore gas field in the Mediterranean will reach 2.9 billion cubic feet per day by mid-2019, Italy's Eni said on Monday. Speaking at an industry event in Cairo…
Sembcorp Marine Faces Exchange Query after Big Shares Fall
Shares of Singaporean rig-builder Sembcorp Marine closed 12 percent lower on Monday, their biggest daily fall in nine years, prompting a query from the bourse regarding the trading activity. This is the second time in a month the Singapore stock exchange has issued a trading query to Sembcorp Marine after a sharp rise in the stock on Jan. 23. Shares of the company closed down 32 Singapore cents at S$2.37 on Monday. They have risen 29 percent so far this year.
Schulte's PRONAV Acquisition Greenlighted
The Hamburg-based Schulte Group said it has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist PRONAV. With this strategic move…
OPEC Sees Balanced Oil Market by Year-end
OPEC said on Monday the world oil market would return to balance only towards the end of 2018 as extra barrels from the United States and other non-member producers offset an OPEC-led deal intended to clear a supply glut. In a monthly report, the Organization of the Petroleum Exporting Countries said outside producers would boost supply by 1.4 million barrels per day (bpd) this year. That was the third consecutive rise from 870,000 bpd forecast in November.
Diamond Offshore Revenue Beats Estimates
Diamond Offshore Drilling Inc's fourth-quarter revenue beat analysts' estimates on Monday, helped by higher demand for its ultra-deepwater rigs. The company's revenue from its ultra-deepwater rigs rose more than 24 percent to $288.28 million in the fourth quarter. Total revenue fell nearly 12 percent to $346.21 million, but beat analysts' estimate of $331.91 million, according to Thomson Reuters I/B/E/S.
Interview: Terry MacRae - CEO, HMS Global Maritime
Terry MacRae founded Hornblower Yachts, LLC (doing business as Hornblower Cruises & Events) in 1980, and serves as Chief Executive Officer, the President and is also its owner. MacRae is the Co-founder of HMS Global Maritime and the American Queen Steamboat Company, and serves as Chief Executive Officer of Alcatraz Cruises, LLC, Statue Cruises, LLC, Hornblower Canada Co., Hornblower Cable Cars, Inc. and HNY Ferry, LLC (doing business as NYC Ferry).
SSY Atlantic Capesize Index Rose 826 Points
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose by 826 points in the week ending Monday to 7,164. "The improvement in the Atlantic Capesize Index rose this week by 826 points to 7,164 and remains well above the corresponding levels of the previous two years. Chartering activity from Brazil helped push round voyage rates (180k dwt) and fronthaul rates both up by $3,350/day week-on-week, to $14,100/day and $25,750/day, respectively," SSY said.
SSY Pacific Capesize Index Gain 602 Points
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index gain 602 points in the week ending Monday to 4,674. "A weekly gain of 602 points lifted the SSY Pacific Capesize Index up to 4,674 points. This is more than 1,800 points above the year-ago level. Round voyage rates in the Pacific (180k dwt) rebounded by $2,300/day last week to $14,100/day, while the Dampier-China iron ore spot rate was up by $0.55/t to $6.80/t."
How Much is That Superyacht Worth?
Sam Tucker Will Tell You! There’s a new name in Superyacht valuation, and the name is VesselsValue.com. Last month we spoke with VesselsValue.com’s Sam Tucker for insights on its new Superyachts report. Many of our readers know VessselsValue, but for those who do not, please provide a brief description of the organization and its offering. Launched in 2011 by Richard Rivlin, a ship broker with 40 years of buying and selling experience…
High Seas Standoff: Cyprus Says Turkey Blocks Drill Ship
Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting…
EU Tells Turkey to Avoid Damaging Actions after Cyprus Ship Incident
The European Union on Monday called on Turkey to avoid threats and "refrain from any actions that might damage good neighbourly" ties after Cyprus, a member of the bloc…
Southern Ocean Bags New Contract
The construction support vessel Southern Ocean, owned by a joint venture between Bourbon Offshore Norway and Oceanteam, has secured a new contract in the APAC region.
Iran Cancels Norwegian FLNG Project
Iran oil minister Bijan Namdar Zangeneh said that the agreement signed with the Norwegian IFLNG company has already been annulled. A report in the Trend said that…
Ocean Yield Acquires Four VLCC
Ocean Yield has announced that 100% owned subsidiaries of the Company have agreed to acquire four VLCC crude tankers with 15-year bareboat charters to companies…
Rotterdam Port in Container Shipping Partnership with Barge Terminal Tilburg
Barge Terminal Tilburg, Combined Cargo Terminals, Moerdijk Container Terminals and Danser Group have joined forces, agreeing to combine cargo along the route between Tilburg…
Solstad Farstad Bags New Contracts
TAQA Bratani has awarded Solstad Farstad ASA a contract for the Platform Supply Vessel PSV Far Spica (2013, PSV 08 CD Design). The contract is the duration of TAQA’s…
Salalah Port Expanding Services for 2018
The Port of Salalah completed its first ship to ship transfer operation (STST) at Salalah anchorage recently as part of the port’s expanding service offering in 2018.
Encik Rezza Resigns as ED of Bumi Armada Berhad
Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad has announced the resignation of Encik Shaharul Rezza bin Hassan…
New Program Makes it Easier to Ship Cars at Port Everglades
Crowley Maritime has helped launch a pilot Vehicle Validation Export Process Program that now allows shippers to submit original vehicle export documentation electronically…
Aker Solutions Signs Agreement with Petrobras
Norwegian oilfield services company Aker Solutions has won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil.
