Commonwealth LNG sees Euro Demand for LA Gas Terminal
Commonwealth LNG has received commitments from European buyers to take almost half of the liquefied natural gas (LNG) from its planned 8.4-million-tonnes-per-year export terminal in Louisiana, Chief Executive Officer Paul Varello said on Wednesday.The Commonwealth project is one of more than 10 LNG export terminals under development or construction in the United States along the coast of the Gulf of…
Sakhalin: Offshore Heavy Lift Refit
Large-scale conversion project on offshore platform Molikpaq operated by Sakhalin Energy.While the refit of heavy lift capacity onboard an offshore rig might sound mundane, Liebherr’s project to replace and modernize cranes on the offshore platform Molikpaq operated by Sakhalin Energy, a unit subjected to some of the world’s harshest conditions, is anything but mundane.The modernization project on…
DP World buys back P&O Ferries for $421 mln
DP World has bought back British ferry and shipping freight operator P&O Ferries for 322 million pounds ($421 million), more than a decade after it sold it.DP World acquired the British shipping and logistics company in 2006 but soon sold off some assets, including P&O Ferries to its major shareholder, state holding company Dubai World.DP World announced on Wednesday it was buying the company, and a spokeswoman later told Reuters it had bought it back from Dubai World.Dubai World was at the hear
Hedge Funds Hunt for Shipping Debt
A growing number of hedge funds are moving into shipping debt, an asset class few have invested in before, looking to buy up loans and bonds as banks cut their exposure to the troubled sector.World economy worries and cost pressures are dampening prospects for a proper recovery in many segments of the shipping sector, which has struggled with tough markets for a decade.Meanwhile European banks, particularly German lenders…
A New Name in Ship, Yacht Sales
Vesselbay.com went live in 2019 with the launch of an online sales platform for vessels, a platform designed to ensure efficient sales processes.Vesselbay.com aims to bring together buyers and sellers of vessels, invisible to the eyes of third parties, on an international scale. It works as follows: 1] A private or business vendor advertises a yacht or ship on Vesselbay.com.2] A potential buyer makes an invisible, provisional bid for the vessel online via the Vesselbay.com website or app.
Keppel Delivers Jack-up Rig to Grupo R
Singapore's Keppel FELS has delivered the jackup rig, Cantarell IV, to Grupo R with a perfect safety record.The wholly-owned subsidiary of Keppel Offshore & Marine…
Japanese Offshore Wind to Hit 4GW in 2028
Japan's nascent offshore wind industry is expected to increase dramatically over the next ten years, according to energy analysts Wood Mackenzie, who predict that…
MJM Bags Largest-Ever Cruise Contract
Global marine outfitter, MJM Marine is undertaking its biggest-ever project which will see a team of 1,400 people spend more than a month working on a cruise liner…
RCL Confirms Sixth Vessel Order
Royal Caribbean Cruises Ltd (RCL) just gave confirmation of an order for Chantiers de l’Atlantique, according to a previous option agreement, to build a new Oasis-class cruise ship…
Kraken Robotics Nets Ocean Infinity Deal
The marine technology company Kraken Robotics has received $1.7 million purchase orders from Ocean Infinity for the AquaPix Synthetic Aperture Sonar (SAS) sensors…
Dry Bulk Market Looks Dull
Global dry bulk fleet utilization (calculated as total demand in tonne miles transported divided by total available fleet capacity) dropped by 1.4% in the fourth quarter of 2018…
Valles Orders New Tanker from SHI
The Hong Kong and Vancouver-based shipowner Valles Steamship has ordered a new 112,000 dwt crude oil tanker from South Korea’s Sumitomo Heavy Industries Marine &…
Cosco, Bolloré in Logistics Partnership
China’s container shipping company Cosco Shipping Lines signed a strategic Memorandum of Understanding (MoU) with Africa-based Bolloré Transport & Logistics to develop new opportunities in transport…
DSME Workers to Strike Against HHI Takeover
Workers at South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) voted on February 19 to strike to oppose Hyundai Heavy Industries (HHI)’ proposed takeover.According to labour union…
Wärtsilä EnergoProFin Gets Vancouver OK
Marine technology specialists Wartsila’s energy-saving propeller cap has been included in the 2019 Vancouver Fraser Port Authority’s EcoAction Program which offers…
Gas4Sea, Equinor in LNG Bunkering Pact
Marine LNG Zeebrugge, a joint venture of the Gas4Sea partners - ENGIE, Mitsubishi Corporation and NYK - has signed an agreement with the Norwegian multinational…
Port of Oakland Gets Giant Cranes
SSA Terminals, the operator of Oakland International Container Terminal, submitted last week a $30 million order for three 300-foot-tall gantry cranes, which are…
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