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Articles : "Global News"

Turkey Makes Another Bid for a 7th-Generation Drillship

Turkey's state-owned petroleum company has reportedly reached an agreement with DSME to buy a 2015-vintage drillship which was never delivered.

According to Turkish news outlet Yeni Safak, Turkish oil and gas company TPAO has purchased the 7th-generation drillship Cobalt Explorer to add to it…

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Consumer and Shipping Companies Offset CO2 Emissions Through Biofuels

A new partnership of 18 leading companies in shipping and consumer goods is working with the GoodShipping initiative to substantially reduce emissions from the cargoes they ship. The cargo owners and other partners are undertaking a commitment to promote sustainable marine biofuel in a campaign …

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Baker Hughes and Shell unite to speed up global energy transition

Oilfield services provider Baker Hughes and oil major Shell have joined forces to speed up the energy transition and reach net-zero carbon emission goals, in a push to decarbonise the energy and industrial sectors.

Baker Hughes reported on Wednesday that a broad strategic collaboration agreem…

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Iran Reports Second Successful Defense of Tankers from Somali Pirates

Iranian naval forces are reporting for the second time in less than a month that they have successfully prevented a suspected pirate attack on one of Iran’s oil tankers in the region of the Gulf of Aden. Monday morning, Iranian state TV announced the successful defense of the tanker that they sa…

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Norway: July oil output on par with NPD predictions

Norway’s oil production in July 2021 was on par with predictions made by the Norwegian Petroleum Directorate (NPD).

Preliminary production figures for July 2021 show an average daily production of 2,035,000 barrels of oil, NGL, and condensate.

Total gas sales were 9.7 billion Sm3 (GSm3),…

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Vessel Congestion Sets Two New Records in Southern California

After months of reported progress on reducing the backlog at the two largest ports in Southern California, the congestion has again spiked to record levels. The Marine Exchange of Southern California, which oversees the movement of vessels at the ports of Los Angeles and Long Beach, reports that…

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NRF: Retail Imports Peaking, Expect to Stabilize for Record Year

After months of dramatic increases in the level of retail imports, the volumes are now expected to level off and decline from a peak projected to arrive at the major U.S. containers ports in August. According to new forecasts from the National Retail Federation, retail imports measured by contai…

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Yantian Slowly Recovers but Delay Could Impact Christmas Shipments

Two weeks after declaring that the international container terminal at Yantian was resuming full operations, there are signs that some of the disruption and backlog are easing across the global supply chain. However, experts continue to warn that the repercussions and delays are continuing and a…

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UK asked to exempt 200,000 seafarers, maritime workers from quarantine restrictions

The UK Chamber of Shipping - the voice of the country’s shipping industry - has urged the UK government to exempt seafarers and maritime workers from any quarantine restrictions planned to be imposed.

The trade association has also called on the government to provide the industry with urgen…

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Container Lines May Lose 17 Mn TEU in 2020 due to Coronavirus

It can no longer be ruled out that the container shipping industry might be looking at developments similar to the financial crisis of 2008, SeaIntelligence said, referring to the impact of the coronavirus pandemic.

“This implies a potential volume loss of 10% equal to 17 million TEU globally…

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SSRZ "Midel" installs a ballast water management system on the Armada Navigator tanker.

Specialists at the Midel shipbuilding and ship-repairing plant are installing the ballast water management system on the Armada Navigator chemical product carrier tanker. Such a system is being installed for the first time in Russia, the company said in a March 9, 2020 statement.

The Armada N…

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Coronavirus Impact Shrinks Volumes at Top Two Busiest Ports in US

The Port of Los Angeles, the U.S. busiest port, has seen a 22.9 percent decrease in handled containers for the month of February compared with the same month in 2019 amid the coronavirus impact.

The coronavirus outbreak has caused a major disruption to the supply chain, resulting in an increa…

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NAT: Decreasing Oil Prices Good News for Tankers

A massive oil price war has erupted between Saudi Arabia and OPEC countries after Russia refused to join the proposed production cuts announced last week.

Under the proposal, OPEC wanted its members to slash production by 1 million barrels per day, seeking an additional cut of 500,000 barrels…

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Coronavirus Outbreak Affects Saga’s Cruise, Tour Businesses

British cruise and travel company Saga said that is cruise and tour businesses have experienced an increase in near-term cancellations due to the evolving coronavirus outbreak. 

“Our Tour Operations businesses have experienced an increase in cancellations and suppressed demand in line with t…

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OPEC Resorts to Production Cuts to Curb Coronavirus Impact on Oil Demand

Responding to the ongoing oil demand situation, OPEC members proposed today to cut oil production by 1.5 million barrels per day until June 30, 2020.

Under the proposal, OPEC proposed its members slash production by 1 million barrels per day, seeking an additional cut of 500,000 barrels per d…

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Sea Intelligence: COVID-19 Impact Pushes Carriers’ Revenue Loss to USD 1.9 Bln

The impact of the COVID-19 virus outbreak on container shipping continues to grow, albeit at a slower pace.

Copenhagen-based Sea Intelligence said in its weekly analytical report that a global volume loss due to COVID-19 impact has reached 1.9 million TEU amid blanking of sailings by global c…

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Hyundai Mipo Inks Deal to Build Chemical Tanker

Hyundai Mipo Dockyard (HMD), part of South Korean shipbuilding group Hyundai Heavy Industries’ (HHI), has received an order for the construction of a chemical carrier. 

The contract, worth KRW 45.3 billion (USD 38 million), has been signed with an unidentified Asian company. It also includ…

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Trafigura, Phillips 66 Create JV to Develop Deepwater Port in Texas

Phillips 66 and Trafigura Group have formed a 50/50 joint venture, Bluewater Texas Terminal, to develop an offshore deepwater port project located approximately 21 nautical miles east of the entrance to the Port of Corpus Christi.

As informed, the proposed project, to be constructed by Philli…

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China Overtakes Germany as Biggest Containership Nation

China has overtaken Germany as the biggest nation in the container shipping sector in terms of total TEU.

“The fact that China would overtake us in this respect was quite foreseeable: for one thing, the simple reason is that very much larger container ships are being built today; for another,…

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MOL Secures Green Loan for Its Bunkering Vessel

Japanese shipping giant Mitsui O.S.K. Lines has signed its first green loan, which it plans to use to partially finance the construction of an LNG bunkering vessel, believed to be the world’s largest.

The loan is provided by BNP Paribas (BNPP) and the Export-Import Bank of China (CEXIM), wi…

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