News

Ecuador expects to conclude negotiations in the second half of the year on the liquidation of contracts of oil companies that left the country after failing to reach

Colombia is positioned to double its oil production levels by 2014, identifying it as one of Latin America’s most promising investment opportunities, says Alex Duffy,

On behalf of its co-venturers BP is pleased to announce an agreement to progress a major re-development of the Schiehallion and Loyal oil fields to the west of the Shetland Islands.

Russian oil majors Rosneft and LUKOIL are in talks to buy two Belarus refineries, Russian news agencies quoted the prime minister of Belarus as saying.Belarus, hit by spiralling

China’s daily oil-processing volume in June fell to the lowest in nine months after refiners shut units for maintenance.Processing dropped 0.7 percent, the first decline since

Russian oil companies will put up to 2 million tonnes of oil products into reserves for future use in market interventions to fight off price rises and fuel shortages,

The Gillard government will impose its carbon tax on foreign ships operating along Australia's coastline, a move miners fear intensifies Canberra's crackdown on cheaper

Baltic Fuel Company (BFC, St. Petersburg, Russia) has made a bargain on purchase of four river tugs of the same type.Tugs of 2400 h.p. capacity each are intended

NYK conducted a mock crisis-response press conference on July 12 based on a scenario that had the NYK bulk carrier Frontier Discovery colliding with a leisure fishing boat.

Failure of Nigerian banks to grant loans to operators in the maritime industry has been identified as a major factor, crippling investments in the capital-intensive sector.

In response to unfavourable trading conditions, Hamburg Süd will rationalise its services between North Europe and the Eastern Mediterranean. From the first week of August onwards,

The Containership Company's bankruptcy trustee is seeking $25 million in liquidated damages from approximately 80 shippers who failed to fulfill their cargo commitments

In view of the economic contributions of seafarers in trade facilitation between nations, Amaka Anagor who witnessed the maiden edition of United Nations

After the critical shortages of containers of last year, production has picked up again, but high container prices and a tight ratio of containers to vessel slots will continue to constrain the availability of boxes, according to the Container Census – Annual Survey and

The World Shipping Council and regulators in Japan say their joint plan on vessel efficiency would set fees for operators of ships that do not meet new environmental and energy standards.

High availability of vessels is pressuring Asia crude tanker markets, while rates for ships that carry clean petroleum products have remained largely steady, defying expectations

Spot container freight rates from Asia to the United States plunged dropping 6.7 percent over the past week, a new sign that excess vessel capacity is eroding rates,

Scorpio Tankers Inc. announced yesterday that it has amended its 2010 Credit Facility converting it to a reducing revolving credit facility from a term loan and that

Mitsui O.S.K. Lines, Ltd. yesterday announced the exterior and basic design of the hybrid car carrier aiming at zero emissions while berthed had been determined.

Wärtsilä has recently been awarded a series of orders to supply propulsion solutions for dredger vessels to be built in China and the Netherlands. Since dredging applications