News
Study: Delay of Sulphur Cap Law Would Endanger 200K Lives
The implementation of a global low-sulphur fuel law for ships in 2020 would prevent 200,000 premature deaths globally, a health study by a group of leading researchers from the United States and Finland reveals. The announcement was made after the international shipping association BIMCO raised conc
Strike over for oil service workers in Norway
Over 300 Norwegian oil services workers on Tuesday ended the strike that started almost three weeks ago as the Norwegian Oil and Gas Association and the Industri Energi union have reached an oil service agreement. The service workers in Norway went on strike in September after mediation over the col
Russia, Turkey ‘shake hands’ on Turkstream pipeline project
Russia and Turkey have agreed to press ahead with the construction of an undersea pipeline that will carry Russian gas through the Black Sea to Turkey. The two countries’ energy ministers signed the deal in Istanbul on Monday, in the presence of Russian president Vladimir Putin and Turkish prime min
Clarksons: Shipping Industry Could Keep Its Big Break Going
Given the current conditions, the shipping industry needs supply-side re-positioning to help the markets back to improved health, and increased recycling in recent years has been a clear part of this, according to Clarksons Research. Since the start of 2009, a total of 206.6 million gross tons of sh
IEA: OPEC oil supply at all-time high. Growth in demand drops to four-year low
International Energy Agency (IEA) has informed that OPEC oil supply was at an all-time high during September while growth in oil demand dropped to a four-year low in the third quarter of 2016. According to IEA’s newly released Oil Market Report for October, global oil supply rose by 0.6 million barr
Russia’s Rosneft boss Sechin says no to OPEC oil cap
By Olesya Astakhova ISTANBUL (Reuters) – Igor Sechin, Russia’s most influential oil executive and the head of state-controlled energy giant Rosneft, said his company will not cap oil production as part of a possible agreement with OPEC. His comments underline how difficult it is for Russia to get it
Ideol Picks Vestas Turbine for Floatgen
French floating foundations designer Ideol will use a 2MW Vestas V80 wind turbine for the Floatgen project, the first of its kind in French waters, the company told Offshore WIND. ”The V80 wind turbine has effectively been delivered at Saint-Nazaire in June. The floating foundation construction is p
Procedural fault found during Gjøa platform probe
Norwegian offshore safety body, the Petroleum Safety Authority (PSA), has found a non-conformity during an audit of Engie’s follow-up of load-bearing structures and maritime systems on the Gjøa platform offshore Norway. The safety body identified one non-conformity during the audit relating to proce
Norwegian Joy Catches Fire at Meyer Werft
A fire broke out on the cruise ship newbuilding Norwegian Joy at Meyer Werft shipyard in Papenburg, Germany, on the morning of October 8, 2016. The fire started on one of the balconies of the cruise ship’s Deck 9 at 7:50 am, and was brought under control at around 9:20 am, according to the local pol
Havyard to name Russian icebreaker duo
A double naming ceremony will be held on Saturday for two icebreaking offshore vessels which will be delivered to Russian shipping company Femco, Havyard Ship Technology said on Tuesday. The two sister vessels, named Pomor and Normann, are two of three Havyard 843 ICE icebreaking offshore vessels or
Russia, Turkey set legal framework for TurkStream project
TurkStream project moved further ahead as an agreement between the government of Russia and the government of Turkey was signed in Istanbul, setting out the legal framework for the project.
BP backs out of Great Australian Bight project
BP said it will not progress its exploration drilling program in the Great Australian Bight, as it intends to focus on opportunities likely to create value in the near to medium term.
Maestro Diamond Aground in Baltic Sea
The 2015-built bulk carrier Maestro Diamond ran into trouble in the Baltic Sea, off the coast of Gedser, Denmark in the evening hours of October 7, according to media reports. Relevant authorities have dispatched the tug Kiel to assist with the salvage operations, however, the work is reportedly bei
Report: Beerenberg prepares for another round of layoffs
Norwegian oilfield services company Beerenberg has reportedly decided to lay off another 250 employees. Back in August 2016, the company failed to secure an extension to the maintenance services frame agreement on the ConocoPhillips-operated Ekofisk field in the Norwegian sector of the North Sea. Th