News
Subsea 7 hires Van Oord for BP work in Egypt
Dutch offshore services and dredging company Van Oord has secured two contracts by international contractor Subsea 7, for work offshore Egypt. Van Oord on Thursday said the deal included the construction of a landfall and the execution of subsea rock installation works. The company did not reveal th
Tanker Fire at Gadani Shipbreaking Yard Still Active
The fire is still ongoing at the Gadani shipbreaking yard in Pakistan following a series of explosions aboard an oil tanker on November 1, according to IndustriALL global union. The union added that up to 150 workers are still trapped inside the 1995-built tanker Aces, which supposedly ignited due t
Gazprom, Mitsui talk LNG cooperation prospects
Gazprom’s head, Alexey Miller, discussed the prospects of partnership in the LNG sector with Mitsui’s chairman Masami Iijima during a meeting on Wednesday.
Shell drills for more gas for Tanzanian LNG project
Shell with its partners, Pavilion Energy and Ophir Energy, said it will start the drilling program covering two wells in Block 1 and 4, located in the Mafia Deep basin off Tanzania.
Noble Energy: Leviathan sanction could spill over to 2017
U.S. energy major Noble Energy has said it has made progress towards the sanctioning of the giant Leviathan gas field, offshore Israel. However, the field might now be sanctioned early in 2017, instead of the previously expected fourth quarter of 2016 Final Investment Decision date. The company, whi
Kongsberg Presents Modular Design for Seabed Observatories
Centre for Arctic Gas Hydrate, Environment and Climate (CAGE) scientists have recently retrieved two K-Lander seabed observatories, deployed in collaboration with Kongsberg Maritime offshore Svalbard in 2015. Since the recovery of the CAGE sensor platforms, an innovative effort has been undertaken t
Maersk Drilling profit lifted by rig termination fees
Danish drilling contractor Maersk Drilling on Thursday reported an increase in its third quarter 2016 profit owing to an early contract termination fee for one of its drillships as well as operational performance and cost savings. Maersk Drilling delivered a profit of $340 million in the third quart
Moody’s: Japan Liner Merger Not Affecting MOL Rating
The recently announced merger of the container shipping businesses of Japan’s three major shipping companies has no immediate impact on Mitsui O.S.K. Lines’ Ba1 rating and negative outlook, according to ratings agency Moody’s Japan K.K. Moody’s expects the integration of the three businesses could p
EMGS Cuts Loss by Over 50%
Electromagnetic Geoservices ASA (EMGS) recorded revenues of USD 4.5 million in the third quarter 2016, down from USD 16.3 million in the third quarter 2015. The company reported loss of USD 11.1 million compared to USD 25.4 million in the third quarter 2015. Contract sales totaled USD 0.5 million, w
Preparations Underway for Longview Dredging
The Port of Longview has just announced that they are preparing for long-overdue dredging to remove years’ worth of accumulated sediment. The Willow Grove Boat Launch will be closed for a brief period of time to perform the dredging and dock maintenance between the dates of November 15th – December
Drewry: cargo diversions threatening LNG shipping sector
Shipping consultancy Drewry believes that demand for LNG vessels in the long term could come under pressure if Asian buyers continue diverting contracted supply from the US to Europe and Latin America.
Shell gears up to drill in Mafia Deep basin off Tanzania
Oil giant Shell is gearing up to start its drilling program covering two wells in Block 1 and 4, located in the Mafia Deep basin, offshore Tanzania. Shell is the operator of these two blocks with 60% interest and Ophir Energy is its partner with 20% stake. The remaining 20% stake is held by Pavilion
Drewry: Cargo Diversions Could Cut Demand for LNG Ships
The demand for liquefied natural gas (LNG) vessels in the long term could be reduced if Asian buyers continue to divert their contracted supply from the US towards Europe and Latin America, according to shipping consultancy Drewry. Due to the expansion in US LNG supply, Drewry has been maintaining a
Two More MR Tankers Join Ardmore Shipping
Bermuda-headquartered tanker owner and operator Ardmore Shipping Corporation has taken delivery of the fourth and fifth of the six Eco tankers acquired in June this year. The two vessels, the Ardmore Engineer and the Ardmore Encounter, joined the company’s fleet on September 12 and 29, respectively.