Following a harrowing 2016 when not a single FPS unit was ordered, this year, 2017, has seen the FPS market return.
Tanker operator International Seaways has informed that its two FSOs began their new charters in Qatar during the third quarter of 2017. During its quarterly presentation on Thursday, the company confirmed that the floating storage and offloading units FSO Africa and FSO Asia had kicked off their fi
The Port of Aden has been excluded from the temporary closure of all sea, air and land ports in Yemen imposed earlier this week by the Saudi Arabia-led coalition. The decision was attributed to the fact that the port falls under the direct management of the Yemeni government and direct control of th
Abu Dhabi National Energy Company (Taqa) posted revenue of 4.17 billion dirhams ($1.13 billion) in the third quarter, almost flat compared to the third quarter of last year when it reported revenues of 4,19 billion dirhams ($1.14 billion.) The company’s revenue from oil and gas slightly fell to AED
The container shipping industry will have to ride out a bumpy period amid an anticipated seasonal decline in volumes spilling into the first quarter of next year and growing supply of ships. According to BIMCO, handling this will be a recurring seasonal challenge. “Bearing in mind that freight rates
The International Chamber of Shipping (ICS) has a vision of zero CO2 emissions from shipping in the second half of the century, ICS Director of Policy, Simon Bennett said while speaking at United Nations Climate Change Conference (COP 23) in Bonn. “We are confident this will be achievable with alter
Russian and Iran have signed a number of agreements over the last week aiming to strengthen the cooperation between the two countries in the gas sector.
Malaysian engineering and construction company Eversendai has secured an offshore construction contract with Saudi Aramco. According to Eversendai, its subsidiary Eversendai Offshoe RMC FZE in the UAE, has been awarded a „major offshore fabrication project for Saudi Aramco.“ The company said the con
The introduction of autonomous ships, often described as the next step for the maritime industry, is looming as projects have already been launched to make the smart ship concept a reality. One of the examples is the construction of the world’s first electric and autonomous containership, Yara Birke
The return to permanent profitable freight rates in the dry bulk sector is still way off, however, there has been a slight fundamental market improvement, according to BIMCO’s latest market overview. Capesize ships have been in profitable territory earning above USD 15,300 per day since August, and
Saudi Arabia-led coalition, which is involved in Yemeni war, has decided to temporarily close all sea, air and land ports in the country, the coalition said in a statement. The move comes after a rebel-fired ballistic missile, which targeted Riyadh, was intercepted on November 4. The measures will b
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Russian oil company Rosneft and National Iranian Oil Company have signed an oil and gas strategic cooperation agreement during a visit of the Russian President to Teheran.
Offshore driller Rowan reported a net loss of $20.9 million in the third quarter of 2017, compared to net income of $5.5 million a year ago.
