News
Imports at Top US Container Ports Set to Rise Despite Situation in Washington
Despite developments in Washington, imports at the major US retail container ports should see double-digit year-over-year increases for the next two months as a growing economy drives the demand for affordable merchandise, according to the monthly Global Port Tracker report released by the National
Oil edges off three-month low, but glut worries fester
By Aaron Sheldrick TOKYO (Reuters) – Crude prices inched up on Friday after dropping to their lowest in more than three months the session before, pressured by concerns that a global supply glut is proving stubbornly persistent. U.S. West Texas Intermediate crude (WTI) <CLc1> was up 17 cents, or 0.4
Shell CEO urges switch to clean energy as plans hefty renewable spending
HOUSTON (Reuters) – The oil and gas industry risks losing public support if progress is not made in the transition to cleaner energy, Royal Dutch Shell Plc Chief Executive Ben van Beurden said on Thursday. The world’s second largest publicly-traded oil company plans to increase its investment in ren
EIA: Henry Hub price climbs, one Sabine Pass LNG cargo shipped
Natural gas spot prices in the U.S. increased in most locations in the week ending March 8, with the Henry Hub price rising 13¢ from last Wednesday, according to the weekly report by the Energy Information Administration. The Henry Hub spot price rose 9¢ from $2.60/MMBtu last Wednesday to $2.69/MMBt
Six fast supply vessels delivered for Petrobras charter
The final six fast supply vessels (FSVs), designed by the Australian ship designer Incat Crowther, have recently been delivered to Baru Offshore, for charter with Petrobras. Incat said on Wednesday the vessels were the last of a dozen 48 meter-long DNV Classed DP-1 monohulls named the Baru Serrana,
USCG Issues BWM Extension Program Guide
The United States Coast Guard (USCG) has released a new guidance related to its Ballast Water Management (BWM) Extension Program, which grants an extension of a vessel’s compliance date to an owner/operator who proves that BWM compliance is not possible. Vessel owners/operators are obliged to comply
Statoil hits gas in Norwegian Sea
Norwegian energy giant and LNG operator Statoil made a minor gas find in the northern part of the Norwegian Sea and about 200 kilometers west of Sandnessjøen.
Shell to invest up to $1B in new energies, but energy transition won’t happen overnight
Oil and gas major Shell will invest up to $1 billion a year in new energies, according to CEO Ben van Beurden. This fits into Shell’s strategy to lower emissions. “Energy transition will take decades though,” said Van Beurden “and it will be different from country to country.” “Shell wants to play a
New Tonnage Record for Panama Canal
The Panama Canal set a new daily tonnage record in February 2017 of 1.18 million Panama Canal tons (PC/UMS) after welcoming a total of 1,180 vessels through both the expanded and original locks, the canal authority said. The previous record was established the month prior in January 2017 when the ca
Spanish Dockworkers Delay Strike Plans for Another Week
The planned strikes of Spanish dockworkers scheduled for tomorrow, March 10, March 13 and March 15 have been postponed, in yet another attempt of the country’s stevedores to reach a deal on the port reform model. The move follows the government’s announcement on delaying voting on the port reform fo
ING, SocGen to test LNG trading with blockchain in months
By Karolin Schaps, Christoph Steitz and Vera Eckert LONDON/FRANKFURT (Reuters) – Banks ING and Societe Generale are in talks with traders to test liquefied natural gas (LNG) trading based on blockchain, the technology starting to shake up the traditional energy industry. Blockchain, which originates
General Cargo Ship Evades Pirate Attack off Philippines
A Vietnamese-flagged ship identified as MV Phu An 268 managed to escape pirate hands while sailing through Philippine waters on Sunday, March 5. Namely, a boat with six men started tailing the general cargo ship on Sunday afternoon while it was sailing off Lihiman Island, the Philippines and attempt
OPEC’s Barkindo: Russia doing a good job on production cuts
OPEC Secretary General Mohammad Barkindo has praised Russia’s commitment to the oil production cuts Opec and Non-Opec had agreed in December 2016. Asked about Russia’s level of compliance the OPEC Secretary General this week confirmed Russia had said from the start that it wouldn’t immediately be ab
Seaway Heavy Lifting Gearing Up for Beatrice Work
Monday 6 March saw the delivery of the purpose built 700 tonne Pile Installation Frame (PIF) to the Rhenus Logistics Facility in Rotterdam, ahead of deployment to the 588MW Beatrice offshore wind farm site in Outer Moray Firth, Scotland.