News
Montreal Port Pens Cooperation Deal with Mundra Port
On a trade mission to India, the Montreal Port Authority signs a cooperative agreement with Mundra Port.
USA: Trump boosts budgets for offshore energy agencies
U.S. President Donald Trump’s proposed fiscal year (FY) 2019 budgets for two government agencies supporting the development of the nation’s offshore energy resources has been increased compared to the prior-year budget.
MISC says LNG tonnage oversupply to continue in 2018, posts 87.1 pct drop in Q4 profit
Malaysia’s MISC, one of the world’s largest LNG shipping companies, said Tuesday it expects tonnage oversupply to continue in the LNG shipping market this year as it posted an 87.1 percent drop in net profit in the fourth quarter. MISCs net profit plunged to 68.2 million ringgit ($17.3m) for the fou
Mexico Finds Cocaine Attached to Hapag-Lloyd Ship
Mexican naval units find 42 kg of cocaine attached to containership at the Port of Lázaro Cárdenas.
Awilco LNG’s net loss grows
Oslo-based Awilco LNG, the owner of two 156,000-cbm LNG carriers, widened its net loss in the fourth quarter as compared to the same period the year before. Awilco LNG’s net loss rose to $4.5 million in the fourth quarter, as compared to $2.49 million in the same quarter last year. Compared to the p
Sovcomflot gets funds for construction of Arctic shuttle tanker
Russian shipping company Sovcomflot and Sberbank have signed a new $106 million project financing agreement to finance the construction of a high ice class Arctic shuttle tanker.
Russian LNG export player Novatek in Lebanon deals
Russian LNG export player Novatek, France’s Total and Italy’s Eni signed exploration and production agreements with the government of Lebanon to explore and produce hydrocarbons offshore the country. The deal includes offshore blocks 4 and 9 in the Eastern part of the Mediterranean Sea. Novatek, the
NOC: Sanchi Pollution May Reach Japan’s Ryukyu Islands
Water polluted by Sanchi oil tanker may reach coral reefs in Japan’s Ryukyu Island chain.
BP starts production from Egypt’s Atoll gas field
UK-based energy giant and LNG player BP has started gas production from the Atoll Phase One project, offshore Egypt. This project adds to the growing gas production in Egypt from new fields, resulting in substantial reduction in LNG imports as the country is looking to stop imports of the chilled fu
Ultra Deep explores cost of building new hybrid vessel
Singapore-based Ultra Deep Solutions is looking into the cost of building a hybrid deepwater flexible pipelay vessel.
Big Fleets to Hold in Check Tanker Consolidation
Big fleets and the diverse ownership of the remainder of the VLCC fleet to cap consolidation in the sector.
NRF: Good Year Ahead for U.S. Container Ports
2018 promises to be a good year for U.S. container ports building on solid market fundamentals like higher employment and improved confidence coupled with the pro-growth tax reform benefits, according to the Vice President for Supply Chain and Customs Policy of the U.S. National Retail Federation Jo
China Building Asia’s 1st Test Area for Autonomous Vessels
China has started the construction of a test field for autonomous ships in Zhuhai, Guangdong.
Carnarvon picks up new permit offshore W. Australia
Carnarvon Petroleum has been awarded a new permit in the Southern Vulcan Sub-basin offshore Western Australia.