Global ordering activity has fallen to 26-year low in January 2017, shipbuilding data from Maritime & Trade by IHS Markit show. Specifically, demand for bulk carriers and gas carriers has plummeted as there were no booked orders in January. The appetite of shipowners for tankers over 10,000 dwt has
Total is in talks to buy a multi-billion dollar stake in Iran’s partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves.
Norway’s Farstad Shipping has secured charter deals for several of its offshore vessels. The company, soon to be part of the Solstad Farstad company after a recent merger deal, said on Monday it had found work for six of its vessels, of which five platform suppliers and one anchor handler. The Far S
Doha-based Qatar Navigation (Milaha) reported a 35 percent drop in its net profit for the year 2016.
State-owned Qatar Petroleum on Sunday announced a plan to integrate activities of its two petrochemical units as it aims to trim domestic costs and expand internationally. This move also follows the Qatari company’s decision to integrate its two liquefied natural gas (LNG) units, Qatargas RasGas. Qa
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The Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) reported on Friday that OPEC and non-OPEC countries are on the right track towards full conformity with their adjustments in production but there is still room for improvement. The Joint OPEC-Non-OPEC Technical Committee (JTC) held its
Israeli firm Delek Group has said that the Final Investment Decision has been made for the development of the giant gas field in the Mediterranean – the Leviathan. The company on Thursday said its subsidiaries Delek Drilling and Avner Exploration had taken the fid the development of Phase 1A in the
Delek Group said a final investment decision for the development of the first phase (Phase 1A) in the development plan of the Leviathan gas field has been reached by the project partners.
Ratings agency Moody’s expects global liquefied natural gas (LNG) prices to remain constrained beyond 2020 as a wave of fresh supply capacity comes online at a time when demand from the world’s largest importers is weakening. Strong LNG demand growth from China, India and new markets would not be en
By Mike Stone and Sumeet Chatterjee (Reuters) – Oil giant Saudi Aramco has asked JPMorgan Chase & Co <JPM.N> and Morgan Stanley <MS.N> to assist with its upcoming mammoth IPO and could call on another bank with access to Chinese investors, a source with direct knowledge of the matter said. The U.S.
Israel’s energy firm Delek Group has secured financing for its share of the Leviathan gas field development. The company on Tuesday said its subsidiaries Delek Drilling and Avner Oil Exploration – Limited on February 20, 2017 signed the financing documents with a consortium of local and foreign fina
Clean product tankers are likely to benefit from the implementation of the global 0.5% sulphur emissions cap as of 2020 driven by the demand for new fuel oil, McQuilling Services brokerage and consultancy writes in its industry note. As disclosed, the forthcoming cap may materially alter trade flows
Boa Shipping , a wholly owned subsidiary of Norwegian shipowner Boa Offshore, has received approximately USD 16 million as dividend on its claim against Gulmar Offshore Middle East. Namely, the claim relates back to 2009 when the charter contract for the vessel Boa Rover was cancelled and disputed b
