Shell plans more cuts after BG deal Hague-based energy giant Shell said Tuesday it reduced capital spending plan for next year as it prepares to finalize the combination with BG in a low oil price environment. Egypt expanding LNG infrastructure Egyptian Ministry of Petroleum recently revealed a US$3
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Egypt has reportedly accumulated around US$350 million of debt towards the LNG suppliers due to a foreign currency crisis and low oil prices.
Natural gas exports from Israel’s Tamar field to Egypt have reportedly been given a green light by the government.
The global containership fleet made idle this year is set to reach a new record, surpassing the 1.5m TEU mark set in December 2009, according to Maritime Strategies International. As of November, 1.4m TEU was idle, having increased 760,000 TEU in two weeks amid depressed freight rates. What is more,
Despite the fact that forty-seven countries have now ratified the Ballast Water Management (BWM) Convention with Morocco and Ghana bringing the convention ever closer to entry into force, the question still remains on whether the requirement for parties to hold 35% of the world’s tonnage has been me
International dry bulk shipowners seem only to scrap ships aged eighteen years or older, while some Chinese owners have scrapped ships that were even younger than that, according to the Baltic and International Maritime Council (BIMCO). Nineteen ships out of 28 ships built in 1998 to 1999 and demoli
Popular news, December 13 – 20, 2015
Shell expects 2,800 more job cuts after BG merger Hague-based gas and oil giant Shell said on Monday it expects a reduction of about 2,800 jobs after completion of the proposed merger with BG. Iran: talks completed over Middle East’s first FLNG project Two Iranian companies have reached a final deal
Overall confidence levels in the shipping industry fell in the three months to November 2015, according to the latest Shipping Confidence Survey from shipping adviser Moore Stephens. The average confidence level expressed by respondents in the markets in which they operate was 5.6 on a scale of 1 (l
Shipping and offshore specialist law firm Wikborg Rein says current low oil prices could mean there are bargains to be had for investors in the offshore sector who follow recommended procedures for assessing and acquiring distressed companies. Birgitte Karlsen, a partner in the London offices of Wik
As pivotal hubs within global trade, container ports and terminals face risks that have potentially serious consequences for international supply chains, according to TT Club, insurance provider to the ports, terminal, transport and logistics sector. “Port terminals are often seen as the weak link i
One of Israel’s main cargo ports, the port of Ashdod, is about to be sanctioned financially in the amount of NIS 2.7 million (USD 693.6 thousand) for polluting the Mediterranean Sea, according to the country’s Ministry of Environmental Protection (MoEP). The sanctioning has been imposed as it has be
Quiz Courtesy: iContainers
