GE Oil & Gas is reportedly set to start staff cuts in an attempt to reduce costs. According to Evening Express, Aberdeen’s daily newspaper, the company has begun the restructuring process which includes job cuts. Evening Express quotes GE Oil & Gas spokesperson as saying: “GE Oil & Gas has started r
At least five merchant vessels loaded with food were anchored off Yemen unable to enter the country’s waters before being cleared by Saudi-led search teams, Reuters cited shipping data on Wednesday. The security situation in Yemen has deteriorated further with increasingly widespread armed conflicts
It seems that the worst is finally over for the bulker owners as the Baltic Dry Index (BDI) is expected to recover in April with stagnant supply and rising demand for vessels. According to UK-based shipping consultancy Drewry, supply is expected to slow down with a decline in newbuilding activity an
Schlumberger, the world’s largest provider of services to the oil and gas industry, has announced a new round of job cuts. On top of the 9000 layoffs announced in January, the company has said it will let go 11.000 more workers, citing cuts in capex made by oil companies due to falling oil prices. S
Merger and Acquisition (M&A) values in the upstream oil and gas sector dropped significantly to $829.8 million in March 2015, compared with $2.9 billion in the previous month, according to research and consulting firm GlobalData. The company’s latest monthly upstream deals review states that oil and
The slowdown in fleet supply growth for dry bulk ships should result in better diversification in ship sizes (or tonnage balance) over the next few years, according to the latest analysis by IHS Maritime & Trade, a division of IHS Inc. This trend will play out as innovative vessel conversions, bette
Despite positive growth momentum, the container shipping industry continues to suffer new, big ship deliveries with no let-up to the ordering frenzy, according to the Container Forecaster published by Drewry Maritime Research. Drewry forecasts another year of excess growth in relation to demand in 2
Qatargas said it has reached another safety milestone by completing thirteen years of operations on its offshore facilities without a Lost Time Incident.
Qatargas said it has reached another safety milestone by completing thirteen years of operations on its offshore facilities without a Lost Time Incident.
The Round Table of international shipping associations (RT) comprising BIMCO, ICS, Intercargo and INTERTANKO is developing standards and guidelines to address the major cyber security issues faced by the shipping industry. Protection against malicious attacks on computer based systems onboard ships
Iran’s petroleum minister has told a parliamentary committee that Iran’s gas pipeline project with Pakistan will go ahead as planned.
Iran’s petroleum minister has told a parliamentary committee that Iran’s gas pipeline project with Pakistan will go ahead as planned.
The IEA Oil Market Report for April raised its forecast of 2015 global oil demand by 90 000 barrels per day (90 kb/d) to 93.6 million barrels per day (mb/d), a gain of 1.1 mb/d on the year, informing subscribers that the notable acceleration from 2014’s 0.7 mb/d growth builds on cold first-quarter t
Yemen LNG, the operator of the country’s only export plant located in Balhaf, said it has stopped all production of the chilled gas as fighting approaches the facility.
