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FLNG Prelude: A New Dawn in the Age of Maritime & Energy
Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting, game-changing floating liquid natural gas (FLNG) facility will serve as a prelude to a killing in the offshore LNG market. It’s not alone. Many industry observers believe FLNG will do for gas offshore what fracking has done for shale or natural gas trapped in the ground on shore.
Cummins Reports Revenue Jump in Q2 2014
Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013. The increase year-over-year was driven by stronger demand in on-highway markets and distributor acquisitions in North America. Revenues in North America increased 14 percent while international sales decreased 1 percent compared to the second quarter a year ago.
Asia VLCC Rates Could Nudge Higher on Activity
Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering…
Worrying Trend of Tanker Hijacks in SE Asian Waters: IMB
The Piracy Reporting Centre (PRC) of the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) raises concerns over a worrying trend of small…
Iain Conn to Leave BP
BP today announced that Iain Conn, Group Managing Director and Chief Executive, Downstream, is leaving the company and is to step down from BP’s board by the end of the year.
Mediterranean Boat People Numbers Near 100,000
Almost 100,000 boat people have made the dangerous journey across the Mediterranean to Europe this year, a roughly 60 percent increase on the whole of last year…
GDI Awards N-KOM US$110-M Contracts
Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts…
Concordia Expected to Reach Genoa Saturday
The Crowley Maritime Corp. subsidiary TITAN Salvage and partner Micoperi have confirmed that the Costa Concordia – the Concordia class cruise ship that wrecked along shores of Giglio Island, Italy, in January 2012 – has been refloated and has begun its final voyage to an assigned berth in Port of Genoa Voltri, Italy, some 200 miles away. The project is the largest and one of the most technically complex maritime salvage jobs ever completed.
APM Terminals to Sell Container Terminal in Virginia
Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said it would sell a big U.S. container terminal to infrastructure investor Alinda Capital Partners and a British private pension fund. The companies, in a joint statement on Tuesday, did not disclose the price that Alinda and Universities Superannuation Scheme Limited will pay for APM Terminals Virginia, the deep-water terminal in Portsmouth, Virginia.
Italy Rescues 1,800 Refugees, Five Bodies Recovered
Italy's navy said it rescued nearly 1,800 migrants in overcrowded boats in the Mediterranean over the weekend, and a merchant ship recovered five bodies from a sinking…
Containership Consortia Set for Further Expansion: Analyst
The formation of 2M is only the conclusion of the latest round of mega-alliance negotiations. Ocean carriers are clearly not yet done with mega-alliance expansion following China’s rejection of P3.
More Boat Migrants to Italy Die
Nineteen people died trying to reach Italy on a boat packed with hundreds of migrants, probably poisoned by carbon monoxide fumes from its engines, said the Italian Navy on Saturday…
ENI Signs Deal to Expand Oil, Gas Exploration in Congo
Italian oil and gas group Eni said it signed a deal to explore for hydrocarbons in the Republic of Congo's coastal basin, expanding its foothold in sub-Saharan Africa's No. 4 oil producer.
China lends Argentina $7.5 bln for Power, Rail Projects
Argentina signed deals on Friday to borrow $7.5 billion from China at a time when the Latin American country cannot tap global capital markets because of disputes over unpaid debt.
Response Firm Coordinates Indian Ocean Rower Rescue
Global Rescue, a crisis response firm providing medical, security, evacuation, and travel risk management services, says it has coordinated the rescue of a rower…
CEVA launches City of Energy in Middle East
CEVA Logistics, one of the world’s leading global supply chain management companies, today announced the official opening of the City of Energy in the United Arab Emirates.
Viking Wins $32m Charter Contract for Drilling System
Viking Offshore & Marine Limited (Viking) which is building a portfolio of mainstream offshore, marine and drilling assets, said today that it has secured a 50-month…
Kenya Seizes 341-kg Heroin Haul on Ship in Mombasa
Kenyan police on Tuesday seized 341.7 kg of heroin hidden in the diesel tank of a ship, the biggest ever single seizure of drugs at the Indian Ocean port of Mombasa.
More than 1,700 Boat Migrants Rescued in 3 Days
Italy's search and rescue mission saved more than 1,700 migrants in the Mediterranean in the past three days and found one person dead on a half-submerged raft, the navy said on Tuesday. This year's calmer summer weather has seen record numbers of people attempt to cross the sea from North Africa to Italy, often on packed boats and leaking rafts. Many are fleeing poverty, war and military conscription.
High Shipping Costs Deter Buyers of W. Africa Crude
Nigerian crude oil differentials held at two-year lows on Monday as demand remained subdued, partly due to high shipping costs from West Africa to Europe. Nearly…
Maritime Piracy
Houthi Rockets Wreak Havoc on Middle East Container Shipping
Narco-Submarines: The Hidden Depths of Drug Trafficking
Drug Smuggling on Ships and Submarines: An Escalating Threat
Maersk revises profit forecast upwards due to robust demand and disruptions in the Red Sea.
Global Shipping Carriers Are Feeling the Impact of the War in Ukraine and the Middle East
Maritime Piracy in the Horn of Africa:
Houthis Declare All-Out War on Israeli Shipping, Vowing to Strike Beyond Red Sea
Injustice at Sea: Greek Court Drops Charges in Deadly Migrant Shipwreck
