The fleet registered under the Greek flag saw a significant loss of 62 ships during the year until March 1st, 2017, equivalent to 3.7 million DWT and 2.3 million GT. The country’s fleet is now comprised of 747 ships, totaling 43.7 million GT and 75.2 million DWT, the Greek Shipping Cooperate Committ
Norwegian oil and gas giant Statoil will reduce its costs by another $1 billion during 2017. The oil company on Friday presented its annual report for 2016 where it said it expects to achieve an additional $1 billion in efficiency improvements in 2017 for a total of $4.2 billion. While oil prices in
Maltese customs inspectors have seized more than 300 kg of cocaine while inspecting a container at Malta Freeport. The name of a ship, which was carrying the container from Guayaquil in Ecuador to Spain and made a stop in Malta on March 12, was not disclosed. Malta’s Customs Department said the coca
The American Association of Port Authorities (AAPA) voiced its concern over the potential of significant cuts for most federally funded, port-related programs in President Trump’s fiscal 2018 budget. Proposed for the budget chopping block is the U.S. Department of Transportation’s (USDOT) Transporta
A Nigerian court has reportedly overturned its earlier ruling on the temporary forfeiture of an offshore oil block jointly owned by Shell and Eni which they bought for $1.3 billion in 2011. According to the Nigerian media, Justice John Tsoho of the Federal High Court, Abuja, on Friday upheld the app
Cheniere filed a request with the Federal Energy Regulatory Commission (FERC) to begin the commissioning process of its fourth liquefaction train at the Sabine Pass LNG project in Louisiana.
The organization of Offshore WIND Conference 2017 has announced their theme for OWC 2017: Leading the way! This theme was chosen to show the continuing progress of one of the leading forms of renewable power generation: offshore wind. OWC 2017 will focus on the opportunities for the offshore wind se
UK oil major BP is in talks with chemicals company Ineos for the sale of its Forties pipeline in the UK sector of the North Sea. The Forties Pipeline System (FPS) is 100%-owned by BP. It is an integrated oil and gas liquid transportation and processing system with a nominal capacity in excess of one
The European Union parliament members have rejected a motion for a total ban on Arctic oil and gas exploration, as proposed by an Arctic policy resolution voted on Thursday, and focused only on the ‘icy waters.’ The European Parliament on Thursday adopted a resolution on an integrated European Union
The dry bulk shipping industry remains well on target for profitable freight rates in 2019 if the projected fleet supply growth rate of 0% in 2017 continues, according to international shipping association BIMCO. In 2016, the supply side grew by 3% and the demand side grew by 2.4%, which resulted in
STX France has expanded its Anemos plant in Saint-Nazaire, dedicated to marine renewable energy, to meet the needs of the international market.
Emas Offshore Limited has received charter terminations from the owners of two vessels, the Lewek Toucan and the Lewek Pelican. Lewek Toucan is a multipurpose offshore support vessel owned by Seabird Penguin Offshore Limited and Lewek Pelican is an anchor handler owned by Seabird Pelican Offshore. T
As part of its new strategy focused on sustainability, the Dutch Port of Amsterdam is moving towards scaling back the transshipment of coal by 2030. In 2016, the port’s transshipment volumes already fell by 7.5% to 16 million tons. What is more, the transshipment of coal is expected to fall by 29% o
The Spanish Congress has rejected the royal decree on the port system reform which was presented by the country’s government earlier this year. This decision follows the infringement procedure opened by the European Commission and the consequential European Court of Justice’s judgment which ruled th
