Gulf Energy Seals $927 Million Port Deal with Thai Government
Thai power producer Gulf Energy Development Pcl on Thursday said its consortium had signed a deal worth 30.9 billion baht ($927 million) with the country's port authority for construction and operation of container terminals.The firm, among the country's largest private power producers, is owned by Thai billionaire Sarath Ratanavadi and has been investing billions of dollars to expand its infrastructure…
Gazprom Boosts Investments to $24 Billion in 2022
Russian gas giant Gazprom said on Thursday its management had approved investments worth 1.76 trillion roubles ($24 billion) for 2022, up from initial plans of 902 billion roubles for 2021, to fund new production and refining hubs.Gazprom is developing new gas production deposits, including in the Arctic Yamal peninsula, which the government claims holds more than a fifth of global gas reserves.The company said its other priority projects for funding are the Power of Siberia pipeline to China, a
Baltic Dry Index Rises as Smaller Vessels Lend Support
The Baltic Exchange's dry bulk sea freight index rose on Thursday, buoyed by gains for panamax and supramax vessels that countered a dip in rates for the larger capesize segment.The overall index, which factors in rates for capesize, panamax and supramax vessels, gained 24 points, or 1%, to 2,678 points.The capesize index shed 46 points, or 1.2%, to 3,776.Average daily earnings for capesizes, which transport 150…
BIMCO Calls for Continued Naval Support in Gulf of Guinea After Piracy Incident
Following the incident in the Gulf of Guinea on 24 November involving the Danish frigate Esben Snare and a suspected pirate vessel, BIMCO calls on all naval forces in the area to further increase the pressure on piracy groups and hopes a continued naval presence will act as a deterrent.According to the Danish Armed Forces, Danish frigate Esben Snare has been involved in an incident involving suspected pirates on 24 November in the waters south of Nigeria.
Danish Frigate Kills Four Pirates in Gulf of Guinea
A Danish frigate has killed four pirates in waters south of Nigeria in an operation to protect shipping in the Gulf of Guinea, the Danish military said on Thursday.The Esbern Snare, deployed last month to the Gulf of Guinea amid heightened security risks from pirates, on Wednesday spotted a fast-moving vessel carrying eight suspected pirates near a number of commercial ships, the Danish military said.The incident took place in international waters,25 to 30 nautical miles south of Nigeria's terri
West Creates Charterers and Traders ProductTeam
West creates a Charterers and Traders team as a new center of excellence within the Club, further enhancing the West’s popular tailor-made liability insurance products.The West of England P&I Club announced the creation of a dedicated Charterers and Traders product team to manage its Charterers Comprehensive Cover, which provides bespoke cover for charterers and traders.Suumit Madhu will lead the new team with support from Nicola Goff…
Rolls-Royce and Zhenjiang Shipyard Partner in Chinese Tug Market
Rolls-Royce and Zhenjiang Shipyard have signed a strategic cooperation agreement to jointly expand their commercial marine business in tug and workboats powered by high-speed engines for the domestic Chinese and export market.Rolls-Royce Power Systems and Zhenjiang Shipyard agreed to jointly explore business opportunities, with an initial focus on promoting the development of tugboats with mtu high-speed engines in China.Yan Guo…
SHI Demos SENSE IV, Its Own Natural Gas Liquefaction Process
Samsung Heavy Industries announced on November 18 that it successfully held a demonstration ceremony at the Geoje shipyard for "SENSE IV (SAMSUNG Enhanced Nitrogen Split Exapnsion IV)", SHI's in-house natural gas liquefaction system.The demonstration, which began on November 16, was attended by several major LNG producers and classification societies.The natural gas liquefaction system, called "An LNG plant on the sea…
