Region
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Hibiscus Petroleum buys stake in North Sea drilling licence
Lime Petroleum Norway, part of Malaysia-listed Hibiscus Petroleum, has agreed with Lundin Norway to acquire a 30% stake in the…
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India’s Karanja port project may be underway again
It looks as though construction of India’s new Karanja port at Navi Mumbai is up and running again, after SKIL…
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Hercules’ Chapter 11 bankruptcy could be tip of the iceberg, says Fitch report
A report by Fitch Ratings agency has forecast more bankruptcies among offshore oil drilling companies, to follow the example of…
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Brazil seaports braced for indefinite work-to-rule by unionised customs officials
Brazilian customs workers are going on national “strike” with a likely impact on all the country’s seaports, according to energy…
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As Aden reopens, another Yemeni port is battered by airstrikes
War torn Yemen has seen its main port reopen while another has come under intense aerial bombardment. Aden Ports Corporation…
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Cyprus transport minister negotiates to avoid port worker strikes
A second meeting has been scheduled this week to avoid industrial action at Cyprus’ ports, after a meeting between transport…
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‘The merged entity can’t match our ongoing investment programme’: V.Group’s take on Anglo-Eastern Univan
Clive Richardson, president and group ceo of the world’s largest shipmanager, V.Group, has both welcomed and dismissed the recent mega…
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Lines try to push through 156% rate hike to Europe
Despite Asia-Europe container trades being in the severe doldrums, near record lows, the world’s largest boxline is trying to push…
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North Energy’s failed wildcats spur more urgent cost cutting
Norway’s North Energy has admitted it is in financial trouble and will need to look at further cost cutting measures.…
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Singapore Shipping Association pushes for lower port dues for hard-pressed OSVs
Admitting that times remain tough for many in the industry, Esben Poulssen, the new president of the Singapore Shipping Association,…
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28% plunge in Vard’s share price prompts SGX to investigate
OSV builder Vard Holdings has been queried by the Singapore Exchange (SGX) after its share price nosedived 28% today. Vard…
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Chinese authorities call to simplify Tianjin Port explosion claims process
China Insurance Regulatory Commission has sent a notice to the insurance companies, asking them to simplify the process of settlement…
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CSRC finds irregularities at Sainty Marine
Financially troubled shipyard Sainty Marine has announced that it has received a warning notice from the Jiangsu supervision branch of…
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Black Elk Energy faces charges for fatal offshore explosion
A Houston-based company is facing criminal charges relating to an explosion on an offshore oil production platform that claimed three…
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MOL settles price-fixing case in US court
Japanese international transportation firm MOL (Mitsui O.S.K. Lines Ltd) has settled in the antitrust case brought against it in US…
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Hillary Clinton tweets her opposition to Arctic oil drilling
Hillary Clinton, the likely Democratic Party candidate in next year’s US general election, has tweeted her opposition to offshore oil…
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Gulf Navigation investor will attempt to improve its fortunes
Integrated Capital has increased its stake in Dubai’s Gulf Navigation and plans to “seek dialogue” with stakeholders to turn the…
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Transatlantic product tanker spot rates fall to lowest level in 4 months
As America’s ‘driving season’ draws to a close, spot rates have fallen to their lowest level in four months for…
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Golar LNG, GasLog and Dynagas form first LNG carrier pool
Golar LNG, GasLog and Dynagas have signed an agreement to form ‘The Cool Pool’, the world’s first LNG carrier pool,…
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Shell gets final green light for Arctic drill into oil-bearing zone
Shell Oil has been drilling at one of its Arctic offshore prospects for more than two weeks already – albeit…
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