March 18th, 20191ExxonMobil has revealed its low sulphur bunker fuel will be available from the third quarter of this year, joining the likes of BP and Sinopec in making clear it will offer compliant fuel around the world ahead of next year’s sulphur cap. Luca Volta, marine fuels venture manager at ExxonMobil, told Forbes in an interview: “We will...
March 18th, 20190Analysts at New York tanker brokers Poten & Partners are bullish for crude tanker owners on the back of the just released oil market report from the International Energy Agency (IEA), with the ton-mile scenario set to stretch further. According to the IEA, the East of Suez crude balances (Middle East and Asia combined) show a...
March 18th, 20190US offshore driller Vantage Drilling International has been awarded a contract by Vaalco for 2009-built jackup rig . The rig will be used to drill in Gabon from the third quarter of 2019 after it comes off contract with Eni in Gabon. The charter is through to the end of the year and includes up to four options. Ihab Toma, CEO of...
March 14th, 20190Brookfield Asset Management has moved to buy a controlling 62% stake in major American shipping investor, Oaktree Capital Management, in a deal worth approximately $4.8bn. Both Brookfield and Oaktree will continue to operate their respective businesses independently, with each remaining under its current brand and led by its existing...
March 14th, 20190US offshore driller Rowan Companies, which is on the verge of a $12bn combination with Ensco, has been awarded a contract by Repsol Exploracion Guyana for 2010-built jackup rig . The contract is for one well, offshore Guyana, and has an expected duration of around 45 days. Commencement is scheduled for the third quarter of 2018, with...
March 12th, 20190When Diamond S shares begin trading later this month, it will mark the largest shipping debut on Wall Street since Gener8 Maritime’s IPO in June 2015. It will also put the spotlight back on the Chinese business ties of US commerce secretary Wilbur Ross. NASDAQ-listed Capital Product Partners (CPLP) is in the process of spinning off...
March 12th, 20190Offshore engineering specialist McDermott, along with Baker Hughes, have been awarded subsea umbilicals, risers and flowlines (SURF) and subsea production system (SPS) equipment contracts by BP for the Greater Tortue Ahmeyim natural gas project, offshore Mauritania and Senegal. McDermott has secured a major engineering, procurement,...
March 11th, 20190The White House notified the Federal Maritime Commission late last week that President Donald Trump has designated Michael Khouri as chairman. He had been serving as acting chairman since January 2017 when Trump came to power. Khouri began his service as an FMC Commissioner in January 2010. "I thank President Trump for his expression...
March 7th, 20190Louisiana based energy services company Chet Morrison Contractors (Morrison) has acquired two pipelay/construction barges and a saturation diving system. The pipelay barges acquired are the LB Super Chief and DLB Subsea Vision, doubling the size of the company’s pipelay fleet. The saturation diving system will be installed on...
March 7th, 20191A boxship operated by Japan’s Kawasaki Kisen Kaisha (K Line) hit severe weather yesterday morning in the Atlantic resulting in a number of container stacks at the aft of the ship collapsing. The 9,600 teu was en route from Boston to Wilmington when it ran into trouble. The ship has now docked at Wilmington and authorities are...
