News
Total’s 1Q income soars
French oil major Total posted a hefty increase in its adjusted net income for the first quarter of 2017, when compared to the first quarter of 2016. Presenting its results on Thursday, Total said its 1Q adjusted net income was $2.6 billion, a 56 percent increase compared to $1.6 billion a year ago.
MacGregor sells stake in LNG transfer arms specialist
MacGregor, part of Cargotec, is looking to sell the majority shares of Woodfield Systems the provider of marine loading arms for LNG transfer.
Gazprom’s net profit climbs to nearly $17 billion, LNG sales up 4 pct
Russian energy giant Gazprom said Thursday its net profit rose 21 percent last year as it benefited from lower costs and a stronger rouble. Moscow-based Gazprom posted a net profit of 951.64 billion roubles ($16.7 billion) in 2016 as compared to 787.06 billion roubles the year before. Gazprom said i
Total’s profit, LNG sales up in Q1
French gas and oil giant Total reported a 56 percent jump in its adjusted net income during the first three months of 2017.
Total ordered to fix Martin Linge faults ahead of departure from shipyard
Following an audit, the Norwegian offshore safety watchdog, the Petroleum Safety Authority (PSA), has issued a notice of order to Total to fix faults and deficiencies on the Martin Linge project ahead of platform’s departure from a shipyard. Total E&P Norge is the operator of the Martin Linge field,
Exmar, Vopak back out of FSRU deal
Belgium’s Exmar said that together with the Dutch terminal operator Vopak, it has decided not to pursue the FSRU business sale.
Sharp Decline in Idling Boxships
As of 3 April 2017, the idle container shipping fleet stood at 0.97 million TEU, according to Alphaliner’s data, totaling in 4.8 percent of the total fleet. The major plunge from close to 1.6 million TEU at the start of the year is evident across the boxship fleet sizes. Most significantly, the 3,00
Seadrill rids itself of Archer guarantees
Offshore driller Seadrill has closed a deal with oilfield services firm Archer to extinguish $253 million in financial guarantees provided by Seadrill. The scrapping of the guarantees comes in exchange for a cash payment of approximately $25 million. Seadrill said on Wednesday it remained in “constr
Baltic Exchange in LNG move
The Baltic Exchange said on Wednesday it aims to move into the LNG and container spaces as part of plans to boost its role in the maritime industry. The Baltic Exchange, along with its parent company the Singapore Exchange, plans to develop a freight LNG index to support its spot LNG pricing and Sin
Novatek’s profit drops as revenue climbs
Novatek of Russia on Wednesday reported a 38.7 percent drop in profit for the first quarter of 2017 due to the foreign exchange effect and the effect of the disposals of interests in joint ventures.
Liqvis, Meyer Logistik open Berlin’s first LNG station
Uniper’s unit Liqvis and the food industry service provider Meyer Logistik opened the first publicly accessible fueling station for liquefied natural gas in Berlin.
Picture of the day: first Q-Flex at Mugardos LNG terminal
The Mugardos LNG import terminal located in Galicia region and operated by Spain’s Reganosa has received its largest liquefied natural gas vessel up to date. The 216,203-cbm Q-Flex carrier Al Utoriya arrived on Tuesday at the Mugardos facility in the Ferrol port carrying a cargo from the world’s lar
Ndurance Readies to Lay Final Galloper Export Cable
VBMS’ cable laying vessel Ndurance will arrive off the coast of Sizewell on 30 April, weather permitting, to install the second and final export cable for the 336MW Galloper offshore wind farm, Galloper Wind Farm Limited said.
Drewry cuts freight rate outlook for LNG shipping
Given the mounting pressure on freight rates and continuing fleet growth over the next two years, excess LNG tanker supply will reduce only gradually with the recovery in rates pushed back to the latter part of next year, according to the shipping consultancy, Drewry. The consultancy maintains a bea