October 24th, 20190Vancouver Fraser Port Authority and local natural gas producer FortisBC are currently studying options to develop a LNG marine bunkering terminal at the port to cater the growing demand for cleaner marine fuels in the coming years. The facility would be the first ship-to-ship LNG marine bunkering service facility on the west coast of...
October 23rd, 20190Teekay LNG and China LNG Shipping's 50/50 Yamal LNG joint venture has been cleared from US sanctions, after Cosco restructured its ownership in China LNG Shipping. The joint venture was blocked in late September after the US imposed sanctions on two units of Cosco Shipping Energy Transportation (CSET), including Cosco Shipping Tanker...
October 14th, 20190Canada’s Teekay Corporation has sealed an extension with the Chestnut joint venture, between Spirit Energy and Dana Petroleum, to extend the contract of 2008-built FPSO . The FPSO unit is now contracted to operate on the Chestnut field, in the North Sea, until March 2023. The extension is based on a fixed charter rate, and comes...
October 10th, 20190Teekay Shuttle Tankers has completed the placement of $125m senior unsecured green bonds due October 2024. The proceeds from the bond issue will be used in accordance with Teekay Shuttle Tankers’ Green Bond Framework to partially fund four E-Shuttle newbuilds currently under construction, with planned deliveries in 2019 and...
October 2nd, 20190The latest issue of Maritime CEO magazine launches today just in time for the upcoming Cyprus maritime week. As ever there’s the views of shipowners from across the globe, top markets commentary as well as deep dives into pertinent topics affecting the shipping industry today. A special feature in this issue looks at the rise of...
October 2nd, 20190Houston-based Oceaneering International has been awarded a contract to support a decommissioning project off the east coast of Canada. Oceaneering’s work scope includes internal cutting, external cutting, and local soil displacement with work expected to start in the second quarter of 2020. The decommissioning project comprises...
September 20th, 20190Seaspan Corporation has closed an additional $500m funding via its portfolio financing program, cash it says will be used to repay five secured credit facilities and may also be used in part to finance the acquisition of vessels. The finance program initially closed in May for $1bn, and has now increased to a total capacity of $1.5bn....
September 17th, 20190Delegates attending the annual gathering of the International Union of Marine Insurance (IUMI) in Toronto have been told their industry has been commoditised and is in urgent need of modernisation. IUMI president Richard Turner opened the event yesterday by identifying the current painful period of adjustment that most insurers are...
August 28th, 20190HaiSea Marine, a joint venture between the Haisla First Nation and Seaspan, has been awarded a contract by LNG Canada to design, build and operate escort tugs and harbor tugs required for LNG Canada’s LNG export facility in Kitimat, British Columbia. The value of the contract is approximately $500m over 12 years. The tugs will...
August 19th, 20190Montreal Port Authority (MPA) has entered into a memorandum of understanding with The Canada Infrastructure Bank (CIB) to advance the development of a new container terminal in Contrecoeur. Under the MOU, CIB and MPA will work on the financial structuring of the proposed terminal. The due diligence will include planning and...
