News
Wärtsilä Gensets for Chinese Container Ships
Finland’s ship engine maker Wärtsilä has been awarded the contract to supply newbuild Chinese container vessels with a total of 24 9-cylinder Wärtsilä 32 Auxpac generating sets. The engines will power six 21,000 TEU ships being built at the Shanghai Waigaoqiao Shipyard (SWS) for China Shipping Conta
Germany to Curb New Offshore Wind Capacity
German government plans to limit the installation of offshore wind farms in the period between 2021 and 2025 to 3.1GW and hold a tender for 1.7GW of offshore wind in 2017 and 1.4GW in 2018 to adjust the offshore wind development to that of the high-voltage transmission grid, according to Reuters. Pr
Energean gets another loan from EBRD to boost offshore exploration in Greece
The European Bank for Reconstruction and Development (EBRD) is stepping up its support for Energean Oil & Gas, the only oil and gas producer in Greece, with an additional $20 million subordinated loan to the company, following the previously announced $75 million financing package. The loan will sup
Polarcus’ fleet utilization increases
Polarcus, a marine seismic acquisition company, on Tuesday posted its fleet utilization figures for the second quarter of 2016. Utilization for the quarter was 91 percent, an increase from 80 percent in the second quarter of 2015. By category, 76 percent of vessel utilization came from contract seis
Olympic Shipping in standstill deal with lenders
Olympic Shipping, an Oslo-listed offshore support vessels owner, has entered into a standstill agreement with its secured lenders. The discussions with the lenders were initiated in the first quarter of 2016, in relation to the need for an adjustment to the repayment profile of the financial debt of
EMGS: Vessel utilization in 2Q 2016 at 76pct. ‘EM Leader’ charter terminated
Electromagnetic Geoservices ASA (EMGS), an Oslo-listed marine seismic acquisition company, has reported an increase in vessel utilization for the second quarter of 2016, however with fewer vessels in operation than in the same period last year. Vessel utilization for the second quarter 2016 came in
Hoegh LNG opens Colombia office to support FSRU contract
Norway-based Höegh LNG said it has opened an office in Cartagena, Colombia to support its contract with Sociedad Portuaria El Cayao (SPEC). Colombia, the country largely situated in the northwest of South America is expected to join the club of worldwide LNG importing nations in the fourth quarter o
Viking Supply Ships working to avoid bankruptcy
Viking Supply Ships A/S (VSS), a Swedish company supplying vessels to the international oil and gas industry, has called its bondholders to ease their stance regarding the financial restructuring of the company, otherwise bankruptcy will be the only option. Namely, Viking says that it has made repea
Petrobras’ shallow water assets up for sale
Brazilian oil company Petrobras has started the process to sell its oil and gas exploration, development and production assets in shallow water fields in the states of Ceará and Sergipe. Nine concessions are being offered, which had an average production of 13 thousand barrels of oil equivalent per
Elengy: Fos Tonkin terminal doubles LNG truck loading capacity
France’s Elengy, a unit of Engie, said that its Fos Tonkin terminal located on the shores of the Mediterranean has doubled its LNG truck loading capacity. Fos Tonkin, which performed its first truck loading operation in 2014, is now able to fill up to 8 trucks per day or 2200 trucks per year with th
Nominations open for first Offshore Energy Awards
The offshore energy industry is constantly moving forward. Despite challenging times in the industry, there are impressive achievements that require celebration. During the first Offshore Energy Opening Gala Dinner on Monday October 24th, Navingo brings the industry together to celebrate some of the
Nominations open for first Offshore Energy Awards
The offshore energy industry is constantly moving forward. Despite challenging times in the industry, there are impressive achievements that require celebration. During the first Offshore Energy Opening Gala Dinner to be held in Amsterdam, the Netherlands, on Monday, October 24th, Navingo brings the
Update: JBIC splashes out on Tangguh’s third train
The Japan Bank for International Cooperation is reportedly providing around 120 billion Yen (US$1.16 billion) in financing for the expansion of the Tangguh LNG facility in Indonesia.
Drewry: No Respite for Multipurpose Fleet Until 2018
The demand outlook for the multipurpose vessel (MPV) fleet has not improved since the first quarter of 2016 and is set to remain unchanged until the end of 2017 due to persisting weakness in breakbulk and project cargo sectors, according to the latest Multipurpose Shipping Market Review and Forecast