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Oil Producer Deadlock Leaves Saudis Calling Shots on $100 Crude

Oil Producer Deadlock Leaves Saudis Calling Shots on $100 Crude

More than a week after Saudi Arabia failed to persuade its fellow OPEC members to increase oil output, analysts and investors are still trying to sort out the meaning of the fracas.

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Gas deal elusive as Hu visits Russia

Gas deal elusive as Hu visits Russia

MOSCOW - Chinese President Hu Jintao and President Dmitry Medvedev on Thursday talked up a deal to pump Russian gas to China for the next three decades but failed to clinch agreement on a final contract.

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Hanjin Suspends Asia-Europe Loop, Orders Five Ships

Hanjin Suspends Asia-Europe Loop, Orders Five Ships

Even as it announced plans to order five big new containerships, Hanjin Shipping said it will suspend its Asia-Europe NE5 service in early July.The carrier operates the service in conjunction with its partners in the Green Alliance, formerly the CKYH alliance, between Cosco, K Line, and Yang Ming

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Baltic index softer, panamax pressure grows

Baltic index softer, panamax pressure grows

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, inched lower on Friday although further iron ore business provided support to the larger capesize market.

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Nigerian, Korean firms to build $250million FPSO platform

Nigerian, Korean firms to build $250million FPSO platform

NIGERIAN may have moved closer to the realization of the ideals of the Local Content policy with the commencement of partnership between an indigenous Oil and Gas logistics provider,

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Indonesia Plans Major LNG Price Reviews to Boost Revenue

Indonesia Plans Major LNG Price Reviews to Boost Revenue

The government plans to hold talks with natural gas buyers and producers to review the terms of their sales contracts as it tries to boost gas revenue, an Energy Ministry official said.

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Korea Vice Minister: Hard To Ask Refiners To Maintain Lowered Oil Prices

Korea Vice Minister: Hard To Ask Refiners To Maintain Lowered Oil Prices

The South Korean government won't be able to ask domestic oil refiners to maintain their lowered retail oil prices once their "self- imposed" price cuts end, a senior official

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Watchkeeper: Plenty to think about

Watchkeeper: Plenty to think about

BIMCO General Meetings have a reputation for being rather different to those in the run of the mill conference circuit, and that in Vancouver last week was no exception. They make their delegates think – about big pictures – about the important background trends

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Fears of scarcer oil supply hurts tanker owners, but the turn of tides is on the cards as well

Fears of scarcer oil supply hurts tanker owners, but the turn of tides is on the cards as well

Tanker owners are still in the loop following OPEC’s inability to provide the oil markets with some positive news on increased production figures, while demand is ever so growing. This week, IEA raised the issue once again, trying to exert pressure on OPEC

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A Unique new Fireboat for the City of Chicago

A Unique new Fireboat for the City of Chicago

In April 2011, The Chicago Fire Department took delivery of a new Fireboat to replace the aging Victor L. Schlaeger. The vessel was named in memory of Firefighter Christopher Wheatley, who lost his life in active duty in 2010. The new vessel was designed by Robert Allan Ltd., Naval Architects

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Wärtsilä exhaust gas scrubber ready for volume production

Wärtsilä exhaust gas scrubber ready for volume production

The development of Exhaust Gas Scrubber technology for SOx emissions control has advanced to the point that it is now possible to quickly ramp up production volumes to meet the increasing demand in the marine market as regulations become more stringent.

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Month before fuel rods are cooled, stable Tepco starting work to clean cooling water of radiation

Month before fuel rods are cooled, stable Tepco starting work to clean cooling water of radiation

Kyodo Tokyo Electric Power Co. said Friday it will take a month to start circulating radioactive water cleaned using a newly installed water treatment system to cool the Fukushima No. 1 plant's crippled reactors.

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More gas through subsea compression

More gas through subsea compression

Statoil wants to compress gas on the seabed to boost recovery. Subsea compression was recently selected as the preferred concept for Gullfaks.

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Aker bags Daewoo driller gig

Aker bags Daewoo driller gig

Daewoo Shipbuilding & Marine Equipment has awarded Norway’s Aker Solutions a contract to supply a complete drilling equipment package for a new deep-water drill ship

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Petrobras in Gabon pre-salt push

Petrobras in Gabon pre-salt push

Petrobras has its sights set on pre-salt plays off West Africa after it bought into a pair of assets off Gabon.

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Bayfield takes AIM at London

Bayfield takes AIM at London

UK independent Bayfield Energy Holdings has set its sights on a London listing as it looks to expand its activity in the Caribbean.

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Vietnam: Hyundai Vinashin Shipyard Launches 56.000DWT Class Bulk Carrier

Vietnam: Hyundai Vinashin Shipyard Launches 56.000DWT Class Bulk Carrier

At No. 1 Dock, HVS held the launching ceremony for Hull No. S057, the 1st vessel of the order of series two 56,000 DWT Class Bulk Carriers from Blue Tide Shipping No.1 S.A., Panama.

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China: Sanfu Shipbuilding Finishes Sea Trials for 92500 DWT Bulk Carrier

China: Sanfu Shipbuilding Finishes Sea Trials for 92500 DWT Bulk Carrier

DWT BC(HUll No.:SF060138), the second sister vessel being built for Indian MSPL company by SF shipyard, finished sea trial smoothly and came back to shipyard. It is reported that this vessel will be named as well as delivered at the end of June.

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Indian steel maker to pay more for coking coal imports

Indian steel maker to pay more for coking coal imports

BL reported that the Indian steel makers may have to pay more for the imported coking coal in the next quarter beginning July 1.Steel industry insiders told Business Line that the forthcoming quarterly contracts, which would be finalized by the third week of this month, could see upward price revision. The last revision saw 47% jump.

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