Recent developments in the crude tanker market, such as the delay in the IMO Ballast Water Management Convention and the OPEC meeting on Monday, are expected to add downwards pressure to the ailing sector. The OPEC meeting at St Petersburg on Monday, Saudi Arabia declared that they would cap crude o
Asia’s piracy watchdog ReCAAP and Oil Companies International Marine Forum (OCIMF) have signed a Memorandum of Understanding (MOU) to boost the fight against piracy and armed robbery against ships in Asia. The first regional government-to-government agreement, signed on July 24 in London, would prom
Norway-based marine transportation service company I.M. Skaugen’s small-scale LNG project in Africa is facing delays due to pending government approvals.
A consortium, comprising French and Chinese companies, officially signed a concession agreement for the container terminal in the new port of Kribi, Cameroon on July 25, 2017. Following an international call to tenders, the consortium of the French groups CMA CGM and Bolloré Transport & Logistics as
Despite falling freight rates for floating storage regasification units (FSRUs), investment returns at current asset prices and charter rates are higher compared with standard LNG vessels, according to Drewry’s LNG Forecaster report. The global FSRU fleet has grown at a CAGR of 21% over the last fiv
Ghana-based power producer and wave energy projects developer TC’s Energy has hired Palewater Advisory Group (PAG) to act as its corporate finance advisor.
Carriers’ overall on-time and transit time reliability improved by 6.8%, increasing from 63.3% in May 2017 to 70.1% in June 2017. Reviewing schedule reliability by trade, nine of the 12 trades improved from May 2017 to June 2017, according to the latest data from intelligence provider CargoSmart. Th
The United Nation Security Council’s Committee on Libya has added an oil product tanker Capricorn to its list of individuals and entities subject to the assets freeze. The Tanzanian-flagged vessel Capricorn (IMO: 8900878) was listed on 21 July 2017, on the grounds of “illegal” transportation of gaso
Oil majors, such as Exxon and Shell, among others, are set to reveal their second quarter financial and operational reports this week, with BP expected next week. Wood Mackenzie, an energy intelligence group, has posted a podcast taking a look into what to expect when it comes to the 2Q results seas
REN-operated Sines LNG import terminal in Portugal is to receive a new cargo of the chilled fuel, shipping data by the Port of Sines shows.
World’s total energy investment in 2016 fell to $1.7 trillion, a 12 percent drop versus $1.9 in 2015, dragged down by the oil companies’ lack of spending which was slashed by a quarter. According to a report released by the International Energy Agency (IEA), while the world experienced a 9% increase
Popular news, July 17-23, 2017
