Business & Finance
Costamare wraps up refinancing efforts with $140 million worth of loans
Athens-based owner and provider of containerships for charter Costamare has concluded its refinancing program launched at the beginning of this year, securing a total of over $435 million in new loans since January. The conclusion of the refinancing efforts has been marked with the execution of the
FAR in default on Sangomar payments
Australian oil and gas company FAR Limited is in default of its payments for the Woodside-operated Sangomar development located offshore Senegal
China’s May LNG imports up 19 percent
China, the world’s largest energy consumer, boosted its imports of liquefied natural gas by 19 per cent in May. LNG imports totalled 5.23 million tonnes last month, data from the General Administration of Customs showed on Tuesday. In the January-May period, the country imported 25.48 million tonnes
Total’s Belgian subsidiary to buy all of Rentel’s electricity
Belgian electricity and gas supplier Lampiris and Otary have approved a long-term power purchase agreement (PPA) for all of the electricity generated at the 309 MW Rentel offshore wind farm. The agreement must still be submitted for approval to the Electricity and Gas Regulation Commission (CREG). I
Awilco amends LNG pair financial covenants
Awilco LNG has agreed certain amendments to financial covenants in the sale/leaseback deals for its LNG tanker pair.
Royal Caribbean’s JV Pullmantur files for reorganisation
Cruises Investment Holding and Royal Caribbean Group (RCL) have filed for the reorganisation of their Pullmantur Cruceros joint venture under the terms of Spanish insolvency laws.
NorSea, Abnormal Load Services launch wind energy logistics company
NorSea and Abnormal Load Services (ALS) have launched a joint company to provide project and offshore supply logistics to onshore and offshore wind energy sectors. The new company, named Elevon, will also be supported by NorSea and ALS owners Wilhelmsen Group and Wallenius Wilhelmsen, respectively.
Sea Intelligence: Carriers to see $9 billion profit in 2020 if they manage to keep current rate levels
Container shipping companies’ fight to maintain freight rates high through capacity management seems to have paid off, beating forecasts on carrier profitability. The liners’ ability to adapt to the new normal through a disciplined approach to the deployment of ships comes as a surprise as dwindling
Woodside’s Sangomar project remains on track for first oil in 2023
Australian energy giant Woodside has said that its Sangomar project offshore Senegal remains on track for first oil in 2023.
BP invests in Satelytics as part of methane reduction strategy
Oil major BP has invested $5 million in Satelytics, a geospatial analytics software company that uses advanced spectral imagery and machine learning to monitor environmental changes, including methane emissions.
ISA postpones activities under Endowment Fund due to COVID-19
The International Seabed Authority (ISA) has postponed all activities for the rest of 2020, under the Endowment Fund for Marine Scientific Research in the international seabed area, due to the COVID-19 pandemic. Consequently, no new applications will be reviewed during 2020, ISA said. During this ti
MOL shrinking fleet by 40 ships as part of defensive measures in response to COVID-19 crisis
Japanese shipping major Mitsui O.S.K. Lines (MOL) has devised a plan comprising defensive measures the company should take in order to reduce market exposure and reexamine investment activities in response to the coronavirus pandemic’s impact. In order to be able to chart its path forward, MOL had t
Keppel starts arbitration to resolve rig dispute with Awilco
Keppel has started an arbitration process to resolve a dispute with Awilco Drilling related to a termination of a rig construction contract.
Tellurian names Souki as executive chairman
US LNG export project developer Tellurian said Tuesday it named its co-founder Charif Souki as executive chairman. Souki has been Tellurian’s non-executive chairman since founding the company in February 2016. Tellurian has recently delayed a final investment decision on its Driftwood LNG project to