News

The so-called APA round of predefined auction areas covered mature producing regions in the Norwegian Sea and the North Sea (along with one single permit in the Bering Sea). It favors tieback developments to existing platforms.

Retailers are continuing to front-load their imports which is driving up the volumes seen at major U.S. ports. The National Retail Federation in its monthly read on container volumes expects the rush to get merchandise into the country will continue in part started by the fear of an East Coast port strike and now potential tariffs from the new Trump administration.

German authorities confirmed they are continuing to detain the Panama-flagged tanker Eventin (152,000 dwt) after the vessel’s blackout and rescue from the Baltic on January 10. In addition to waiting for confirmation from the vessel’s classification society of the repairs and seaworthiness of the ship, the authorities confirmed Customs inspectors have boarded the vessel.

With global ship demolition at record low levels, Bangladesh’s shipbreaking industry has reported that 2024 saw a massive drop in scrap ship imports. Only 144 ships were sent to Bangladesh last year for recycling, equivalent to 968,000 GT, the lowest since 2005.

The containership Dali which became notorious for its allision destroying Baltimore’s Francis Scott Key Bridge has completed repairs and is preparing to return to service. The ship was operating under charter to Maersk at the time of the incident and according to the shipping line’s online scheduler, she returns to service on January 17.

Berge Rederi will incorporate two specially designed wind rotor sails from Norsepower into its innovative zero-emission bulk carriers now building in Nanjing, China. The company reports the vessels expected to launch starting late this year will be the world’s largest battery-powered bulk carriers and far surpass the current longest voyages for battery-electric ferries.

The U.S. Department of Defense published its annual listing of companies linked to China’s military adding shipping giant COSCO Shipping and two of its subsidiaries, as well as other companies including the Chinese oil company Cnooc, to the designation.

The U.S Coast Guard is formulating a plan to safely refloat a Supramax self-unloader that grounded in the Delaware River near Philadelphia on Wednesday evening.

Chile has launched a national naval shipbuilding policy, which will see the navy utilize domestic shipyards during the ongoing fleet renewal program. President Gabriel Boric signed the policy last week during a visit to the state-owned shipyard Asmar in Talcahuano port city.

Finland's National Bureau of Investigation (NBI) has found and recovered the missing anchor from the "dark fleet" tanker Eagle S, which is suspected of severing four subsea telecom cables and a high-voltage power cable in the Baltic on Christmas Day.

The fierce wildfires that have ripped through Los Angeles County over the past two days have destroyed more than 5,000 homes and claimed at least five lives, and the disaster is far from over.

Shell has brought its Whale offshore production facility in the U.S. Gulf of Mexico online, the supermajor announced Thursday. The floating platform is located about 200 miles off Houston in about 8,600 feet of water, and will addan estimated 100,000 bpd of peak production to Shell's portfolio.  

Algeria’s shipbuilding industry is poised for a revamp with the government hoping to tap domestic shipyards for upcoming procurement deals. The Algerian Defense Ministry has previously revealed plans to build Chinese Type 056 corvettes at local shipyards.

The NGO United Against Nuclear Iran (UANI), which is at the forefront of tracking Iran’s dark tanker fleet and oil exports, is out with its year-end review citing continued dramatic growth in the dark tanker fleet supporting Iran’s oil exports.

A project financing package was completed at the end of December to continue the momentum for the development of another of the early, large offshore wind farms off the Northern U.S. Coast. Equinor reports it secured more than $3 billion in project financing for Empire Wind 1 on competitive terms due to strong interest from lenders.

Vietnamese officials were on hand for the handover of the largest dry bulk carrier ever built in a domestic shipyard. The 65,000 dwt Truong Minh Dream was hailed as a key advancement and in keeping with the government’s plans to expand shipbuilding and shipping to support the growth of the country.

The U.S.’s annual supply mission to Antarctica known as Operation Deep Freeze is moving into its next phase as the Polar Star, the U.S. Coast Guard’s only heavy icebreaker, started the final leg of its deployment.

Senegal and Mauritania are set to become major producers of natural gas after oil major BP marked a significant milestone with the first gas flow from the offshore Greater Tortue Ahmeyim (GTA) project.

The Ukrainian Danube Shipping Company (UDP) is a key part of the nation's backup export route, which runs from inland ports to Constanta and to the Black Sea. But the Danube was a backwater for Ukrainian shipping before the war, and now that the deepwater grain terminals near Odesa have resumed operation, the river has once again become a second-tier option for agricultural exporters.

Demand for natural gas and production from the U.S. hit a new high at the end of 2024 according to a report from Reuters. It comes as Europe further looks to replace Russian supplies and the U.S. industry is expanding its exports to new customers including Ukraine.