Middle East Risks Keep Oil Prices High
Oil lost some of its big price rises today as the US announced the possible release of crude reserves but the possibility of military action in response to the drone attacks on Saudi oil facilities still means prices are high and that stocks are under pressure. Equity market losses have not been large but investors are continuing to support ‘safer’ assets such as gold, for which treasury prices are rising.Brent crude prices fell 1.78% to $67.79 per barrel in Asia today (Tuesday…
BP Awards Caspian ACG Contracts
The upstream consortium, led by UK enerrgy giant major BP, announced that the Azeri-Central-East (ACE) project is moving forward at pace with the awards of key contracts.BP…
Senvion to Sell Assets to Siemens Gamesa
Insolvent German wind turbine manufacturer Senvion is in exclusive talks with Siemens Gamesa (SGRE) over the sale of a substantial part of its business.The Germany…
NEOT Gets First LNG Bunkering from Kairos
Nauticor-operated LNG bunker supply vessel Kairos completed the first LNG bunkering operation in the port of Södertälje, Sweden, delivering 150 tons of LNG.Finnish…
Hurtigruten Intros eSled Snowmobiles
Norwegian shipping company Hurtigruten has announced a partnership between Hurtigruten’s land-based adventure travel company Hurtigruten Svalbard, and the Finnish start-up company…
Cargill, Maersk Tankers to Run Joint Pool
Commodities trader Cargill and shipowner Maersk Tankers aim to build a joint Medium Range (MR) tanker pool with more vessels as they seek to cut emissions."The strategic…
Evergreen Orders Ten Ships
Taiwanese shipping line Evergreen has confirmed its plans to build a total of ten 23,000 TEU containerships.According to a stock exchange filing, the new vessels…
ABS, Keppel to Build Smart Rigs
In an Industry first, the provider of classification services to the offshore industry ABS partnered with Keppel Offshore & Marine (Keppel O&M) in developing the…
First Hybrid Cruise Ship Sails Northwest Passage
Norwegian cruise, ferry and cargo operator Hurtigruten announced that its new expedition cruise ship MS Roald Amundsen became the first battery-hybrid powered ship…
SGRE Confirms Taiwan Offshore Wind Factory
Siemens Gamesa Renewable Energy (SGRE) has held a groundbreaking ceremony for a nacelle assembly facility in the Port of Taichung in Taiwan that will be its first…
GOGL Ups Investment in Singapore Marine
Norway based dry bulk shipping company Golden Ocean Group (GOGL) is planning to make a further investment in Singapore Marine Pte Ltd in connection with the acquisition…
Langh Ship Going Green
Finnish shipping company Langh Ship said that it takes environmental matters into account in their day-to-day operations, and efforts to improve the state of the…
Oil Price Spike after Saudi Attack Temporary
The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million barrels…
GPA to Double Capacity, Draws $5Bln Investment
The Georgia Ports Authority (GPA) has revealed plans to double capacity at Garden City Terminal to 11 million twenty-foot equivalent container units per year.In Fiscal Year 2019…
Cosco Shipping Ports Names Feng Boming as Chairman
Cosco Shipping Ports (CSP), the biggest terminal operator in the world, has appointed Feng Boming as its new chairman, replacing Zhang Wei who has quit the position.Feng Boming…
EXMAR, Anglo-Eastern JV for LNG Management
The manager of specialized floating assets EXMAR Ship Management and ship management company Anglo Eastern Univan Group formed a joint venture (JV) dedicated to…
Oakland Port Refrigerated Exports Jump 20%
The Port of Oakland’s refrigerated exports have jumped 20% in past year. The Port said it handled 119,756 20-foot containers of refrigerated exports from August 2018 through July 2019.
Coastal Passenger Ferry for China
The Zhoushan Islands are just off shore of east China's Zhejiang province, and lie south of Shanghai on Hangzhou Bay. The main island is home to a naval base, shipyards and a port. It is a busy island with a well-developed ferry system carrying both people and vehicles back and forth to the mainland. A fine new 690-passenger ferry, Zhoushan Islands Prosperity, has recently been added to this fleet of vessels.
BIMCO: Fleet Growth, Ship Size Up
Global growth in container volumes has picked up slightly in the second quarter of the year, with growth in the first seven months reaching 1.2%, compared to the just 0.8% in the first quarter.Global growth in container volumes has picked up slightly in the second quarter of the year, with growth in the first seven months reaching 1.2%, compared to the just 0.8% in the first quarter. Despite this rise…
Air Caster Tech in the Shipyard
Like the magic carpet of ancient myth, air caster technology has revolutionized the way in which heavy payloads can be moved in a cost effective and efficient way — floating on air. Developed post-World War II by engineers at General Motors, air casters were later modified and improved for the construction of the iconic Boeing 707 in the early 1960s. Today, used in a host of industries, companies in…
