News
U.S. judge approves $2.6 billion fine for Odebrecht in corruption case
By Brendan Pierson NEW YORK (Reuters) – A U.S. judge on Monday sentenced Brazilian engineering company Odebrecht SA to pay $2.6 billion (2.08 billion pounds) in fines in a massive criminal corruption case, signing off on a plea deal between the company and U.S., Brazilian and Swiss authorities. U.S.
Alang Demolition Activity Declines by More than 30 Pct in 1Q
Demolition activity at Alang yards in the Indian state of Gujarat decreased by 34 percent from January to March 2017, according to NGO Shipbreaking Platform’s data. During the quarter, only 69 ships were sold to Indian shipbreaking yards, compared to 105 sold in the same period last year, NGO Shipbr
DOE: U.S. LNG exports hit new high in February
Liquefied natural gas (LNG) exports from Cheniere’s Sabine Pass liquefaction facility in Louisiana reached 52 billion cubic feet in February, the latest data from the U.S. Department of Energy shows.
Global Wind Service on Rampion Duty
A team of Global Wind Service UK LTD (GWS) technicians is currently working off Sussex on the installation phase of Rampion offshore wind farm, the first wind farm off the south coast of England.
NextDecade, Harmony ink merger deal
Harmony Merger Corporation and the US LNG export player NextDecade have signed a definitive merger agreement, which would result in NextDecade becoming a publicly listed company. The deal follows a letter of intent signed by the two companies in March. The all-stock transaction is valued at $1 billi
Brazilian court suspends Petrobras’ field sale to Statoil
A Brazilian court is blocking the transfer of Petrobras’ stake in the BM-S-8 offshore exploration block, which contains the Carcará oil field, to the Norwegian oil company Statoil. According to a Monday statement by the Brazilian oil giant, the 2nd Federal District Court, Sergipe state, granted an i
Solstad in ‘Normand Cutter’ charter with Saipem
Norwegian offshore shipping specialist Solstad has signed a frame agreement with Saipem for the use of its construction support vessel Normand Cutter. According to Solstad, the frame agreement with Saipem’s Portuguese subsidiary is valid for 4 years. Through this agreement, Saipem can utilize the “N
Emas Offshore gets wind up threat over ‘Lewek Champion’ charter debts
Emas Offshore’s subsidiary, Lewek Champion Shipping, may be facing wind up in a further push by Hai Jiang 1401 to achieve its rights as debts accrue for the now terminated charter of the Lewek Champion vessel. On March 9, 2017, Hai Jiang 1401, the owner of the pipelay construction vessel Lewek Champ
Chevron begins Gorgon LNG Train 2 restart
US-based energy giant Chevron began restart activities at its Gorgon LNG project’s second liquefaction train.
Seafarers’ Wages Payment During Piracy Discussed at ILO Meetings
A meeting of the International Labour Organisation (ILO) Working Group of the Special Tripartite Committee (STC) was held in Geneva, Switzerland, from April 3 to 5, to examine issues related to the protection of seafarers’ wages when they are held captive on or off the ship as a result of piracy of
California offshore platform slated for removal as Venoco files for bankruptcy
American oil exploration and production company Venoco has filed for bankruptcy. Before this move, the company quit-claimed its lease for the South Ellwood field off California which is now slated for decommissioning. The company and its affiliates, (TexCal Energy (LP) LLC; Whittier Pipeline Corpora
Apache hires Bristow for North Sea helicopter services
Bristow Helicopters has secured a new contract with Apache North Sea Limited to support its North Sea operations. The contract which has a five year primary term, with further extension options, will start on September 1, 2017. Aircraft types provided under the contract will comprise both the Sikors
MSI: Strong Dry Bulk Market May Not Persist in 2H
Although the recovery of bulk carrier earnings has fired sale and purchase activity, values and new orders, market faces an uncertain outlook for the balance of the year, according to research and consultancy firm Maritime Strategies International (MSI). MSI has forecast a positive short-term outloo
Hong Kong-Flagged Bulker Arrested in Singapore
Bulk carrier SFL Spey has been detained in Singapore waters, according to Supreme Court of Singapore’s records. The 34,000 dwt ship, owned by Bermuda-based Ship Finance International, was arrested for undisclosed reasons in the morning hours of April 18, 2017. Focal Investigation & Security Agency h