News
MISC posts increase in Q1 LNG revenue
Malaysian LNG shipper, MISC reported a 9.3 percent rise in LNG revenue in the first quarter of FY2017, reaching RM746.5 million (US$172 million) from RM683 million in the corresponding quarter last year.
ABS approves Diamond Offshore’s innovative drillship concept
ABS, classification and technical services provider to the offshore industry, has approved Diamond Offshore’s new Floating Factory drillship design. ABS said that recent work on the Floating Factory drillship concept was an example of how the company worked with drilling contractors, in this case, a
EIA: Henry Hub price climbs, Cheniere ships 3 Sabine Pass cargoes
Natural gas spot prices in the United States rose at most locations in the week ending May 3 with the Henry Hub price increasing 7¢ from last Wednesday. The Henry Hub spot price rose from $3.02/MMBtu last Wednesday to $3.09/MMBtu two days ago, according to the weekly report by the Energy Information
OPEC committed to output cuts. Extension far from done deal, survey says
The ten OPEC members’ crude output stayed unchanged in April at 31.85 million barrels per day compared to March, according to an S&P Global Platts survey released today. OPEC is still showing high compliance with its production cut agreement, as increases in Angola and Nigeria were offset by decline
Oil prices continue slide; WTI nearing six-month low as supply glut weighs
Oil prices fell by as much as a further 3 percent on Friday, after prices had crashed to five-month lows in the previous session, as concerns about global oversupply wiped out all of the price gains since OPEC’s move to cut output.
Awilco LNG’s Q1 net loss grows, freight income down
Oslo-based Awilco LNG, the owner of two 156,000-cbm LNG carriers, widened its net loss in the first quarter of this year due to low activity of its vessels and lower spot rates. Awilco LNG’s net loss rose to $10.4 million in the first quarter, as compared to $4.6 million in the same quarter last yea
Magnolia LNG allowed to proceed with site preparation
Perth-based Liquefied Natural Gas Limited said its Magnolia LNG project received the notice from the United States Federal Energy Regulatory Commission to start initial site preparations in the Port of Lake Charles, Louisiana.
VV: Newbuilding Orders Drop in April
Twenty-one new ships were ordered on a global level during the month of April, according to a monthly market report released by Vessels Value. When compared to April 2016, newbuilding orders have decreased by 27.6 percent. Out of 21 orders placed in April 2017, five were for bulkers and sixteen for
Dutch Steel: Manufacturer Geared Up for Offshore Wind
“You can say we are very, very good at constructing pipes”, states Jan Bruggenthijs, CEO of steel manufacturer Sif Group based in the Netherlands. The company manufactures foundations for the offshore wind and oil and gas industries.
Russia suspends LPG exports to Ukraine again – traders
MOSCOW (Reuters) – Russian exporters have suspended liquefied petroleum gas (LPG) exports to Ukraine for the second time in a month because Russia’s regulator has not given clearance for the shipments, traders said on Thursday. Russia restricted LPG exports to Ukraine in early April for a few days c
Clean Energy Fuels’ profit, LNG deliveries rise
Clean Energy Fuels, one of the largest providers of natural gas fuel for transportation in North America reported a rise in profit in the first quarter of 2017.
Centrica hires Servelec for offshore platform remote control
UK firm Servelec Controls has been awarded a contract by Centrica to provide a remote operations solution for a normally unmanned offshore gas platform – DP6 – on the Morecambe field off the coast of Lancashire and Cumbria, UK. The project will extend the life and commercial viability of the ageing
IMB: 58 Seafarers Kidnapped in Q1, 2017
Pirates and armed robbers attacked 43 ships and captured 58 seafarers in the first quarter of 2017, slightly more than the same period last year, according to the latest ICC International Maritime Bureau’s (IMB) piracy report. The global report highlights persisting violence in piracy hotspots off N
Victoria Completes NKT’s Power Cable Picture
NKT has held a naming ceremony for NKT Victoria, the company’s new cable-laying vessel which was part of the recently completed acquisition of ABB’s high voltage cable business, at its power cable plant in Karlskrona, Sweden.