News
Works on gas pipeline stopped after ancient settlement found
The construction of the Trans Adriatic Pipeline in Albania has been stopped after an ancient settlement has been discovered at the designated route. The pipeline is being built to carry gas from the Shah Deniz field in the Caspian Sea, off Azerbaijan, to Europe. It will connect with with the Trans A
Cracks Found on Another Polaris VLOC
Cracks have been found aboard another Polaris Shipping-operated very large ore carrier (VLOC), the 1994-built Stellar Queen, following an inspection of the ship which was conducted in Sao Luis, Brazil. A representative of Holman Fenwick Willan Singapore LLP, speaking on the authority of the ship’s o
Poten: vessel supply growth expectations weigh on LNG spot charter rates
Liquefied natural gas (LNG) spot charter rates could remain low throughout the entire year, largely due to the expectation of growth in future vessel supply, according to a report by the consultancy Poten & Partners.
Paragon gets more work for jack-up rigs
Drilling contractor Paragon Offshore has been awarded work for three of its jack-up drilling rigs. According to Paragon’s fleet status report on Wednesday, the jack-up rig MSS1 has been awarded a one-well contract in the UK sector of the North Sea with Centrica. The contract with Centrica will start
Atlantis CEO wins Lennard-Senior prize
The Chief Executive of Atlantis Resources, Tim Cornelius, has been awarded the Lennard-Senior prize for his outstanding contribution to the promotion of tidal energy.
Drewry: Crude Tanker Market to See Recovery in 2020
Recovery in the crude tanker shipping market is not expected until 2020 as weak trade growth and a bloated orderbook limit any rate recovery, shipping consultancy Drewry said. The timing of recovery will depend on the extent of scrapping activity, is expected to gather momentum towards the end of 20
SgurrEnergy’s PPT Services In Line with New IEC Standard
SgurrEnergy, part of Wood Group, has informed that its Power Performance Testing (PPT) services, which deliver wind turbine power curve tests, are fully compliant with the recently issued 2nd edition of IEC 61400-12-1 wind turbine standard from the International Electrotechnical Commission.
Baltic states discussing sustainable LNG supplies
The regional LNG solution must be cost-effective and sustainable in the long term, according to the Estonian prime minister Jüri Ratas.
South Korea’s Big Three Return to The Scene
South Korean big three shipbuilders, Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) have so far this year made a major comeback as owners rushed to avail of attractive VLCC prices. Namely, John Fredriksen-controlled tanker shipping
Nova bags funding for Shetland Tidal Array storage
The energy storage project, led by tidal energy developer Nova Innovation and project partner Denchi, has been selected to receive funding through the Low Carbon Infrastructure Transition Programme (LCITP).
Polarcus Wins More Work in Asia Pacific
Seismic contractor Polarcus said it has secured a contract for a broadband 3D marine seismic project in Asia Pacific. The award follows another contract win it the Asia Pacific region scooped up in April this year, and scheduled for Q2 2017. According to Polarcus, the new project is due to start in
NCLH Starts Year on a High Note
Miami-based cruise company Norwegian Cruise Line Holdings (NCLH) has started the year with a record revenue which reached USD 1.2 billion in the first quarter, representing an increase of 6.8% compared to USD 1.1 billion seen in 2016. This increase was primarily attributed to the addition of Oceania
International Seaways Eyes Fleet Growth as It Reports Q1 Profit
US-based tanker shipping firm International Seaways (INSW) is eager to avail of the attractive market so as to modernize its fleet with new fleet additions. According to Lois K. Zabrocky, International Seaways’ President and CEO, there are compelling opportunities to grow and renew the company’s fle
SBM Offshore still in talks to resolve bribery case in Brazil
SBM Offshore has yet to resolve its status in Brazil following an alleged corruption scandal. To remind, the world’s largest FPSO vessel provider had in July 2016 signed a settlement agreement with the Brazilian authorities, and Petrobras, closing corruption probe over improper payments to Petrobras