News

Azerbaijan is in talks with BP and Turkey's Botas on the export of excess gas volumes for the next six years, the state energy company said, providing a source of gas for European consumers keen to cut dependence on Russia.

The price of 380 CST bunker fuel in Japan, which is typically higher than in Singapore, flipped into negative territory Tuesday for the first time since May 28, 2008, due to weak demand and ample supply, Platts data showed.

Singapore’s stockpiles of fuel oil rose from the lowest level in three weeks, data from the Ministry of Trade and Industry showed.

State-run Indian Oil Corp (IOC), the nation's largest oil firm, plans to double its refining capacity to 123 million tonnes a year by 2020-21, its Director (Refineries) Rajkumar Ghosh said yesterday.

Atlantic Bulk Carriers Management Ltd, ship operator of Handymax, Supermax and Panamax size bulk carriers, on November 17, 2011 takes delivery of the latest addition to its fleet, M/V Desert Victory.

Krishnapatnam Port deepens draft to 17.5 meters to have the joint deepest draft in India. Port plans to deepen draft further as part of ongoing expansion project

OAO NOVATEK has announced today that the Tanker “Perseverance”, carrying 60 thousand tons of the Company’s stable gas condensate, has passed through the Bering Strait and into the Pacific Ocean.

Island Offshore, leading provider of high quality solutions for the offshore oil industry, receives 4 months contract for Island Centurion vessel.

Fairmount Marine’s powerful tug Fairmount Glacier has successfully assisted the new build semi submergible drilling rig Scarbeo 9

The supply of oil tankers competing to load 2 million-barrel cargoes of crude from ports in the Persian Gulf expanded, said Marex Spectron Group Ltd., a London- based commodities and freight brokerage.

Gas shippers must tackle growing threats to trade as naval containment of piracy falters and surging global demand spurs traffic through high-risk waterways, the general manager of Yemen’s liquefaction plant said.

A Belgian delegation led by Mr. Kris Peeters, Minister-President, Flemish Government called on Sh. G.K. Vasan in Chennai today to take stock of the various cooperation arrangements

The joint venture formed by Technip (50%) and Odebrecht Oil & Gas (OOG, 50%) has received a letter of award from Petróleo Brasileiro S.A.

Seadrill has been awarded a two-year extension for the ultra-deepwater semi-submersible rig West Aquarius which is currently operating in Asia under a worldwide contract for ExxonMobil.

14 years after the disaster with the Kursk submarine in the Barents Sea, the Russian navy will finally get a modern rescue ship.

Star Bulk Carriers Corp.,a global shipping company focusing on the transportation of dry bulk cargoes, today announced that it has entered into a time charter contract with Pacific Basin Chartering Limited

Dockwise’s new heavy lift vessel, the Dockwise Vanguard, will be able to lift and transport units of up to 110,000 tonnes. The maximum capacity of an existing vessel is 75,000 tonnes.

Imperial Ship Management has awarded OSM the crew management of the entire Imperial fleet.

Calm conditions have allowed 15 more containers to be lifted from the rear of the cargo ship Rena to the crane barge Sea Tow 60 (ST 60), Maritime New Zealand (MNZ) says.

Two new cargo vessels have joined the OSM fleet. The owner is Ellingsen Shipping Group.