Malaysian LNG shipper MISC, a unit of energy giant Petronas, reported an 81 percent year-on-year increase in its net profit in the second quarter to 1.35 billion Malaysian ringgit ($334.4m). MISC’s revenue for the quarter ended 30 June 2016 of 2.4 billion Malaysian ringgit was 8 percent lower when c
Klaipedos Nafta, the operator of the first Lithuanian LNG terminal said Friday that sales revenues from the import facility rose 1.9 percent in July. Sales revenues coming from the regasification activity from Höegh LNG’s FSRU Independence located in the port of Klaipeda were at 5.5 million euros in
U.S.-based offshore vessel operator Hornbeck Offshore has made an agreement with a shipyard to postpone the delivery of two multi-purpose supply vessels (MPSVs). Hornbeck postponed the delivery of the final two 400 class MPSVs, that are being built at Eastern Shipbuilding, for the first and second q
MSC Sofia Celeste, an 8,800 TEU vessel operated by the Mediterranean Shipping Company (MSC), docked at the Packer Avenue Marine Terminal in South Philadelphia for the first time on August 3, becoming the first Neopanamax ship to call this port. Completed in 2014, the MSC Sofia Celeste is the first t
The construction of Freeport LNG’s liquefaction and pretreatment facilities located on Quintana Island in Texas is moving beyond foundation work and structures have begun to rise well above ground level. Freeport LNG, led by Michael Smith, Chairman and CEO, is constructing liquefaction infrastructur
U.S.-based LNG engineer Fluor posted a 31 percent drop in its second-quarter net earnings as compared to the same period last year. Fluor said Thursday its net earnings for the second quarter were $102 million, or $0.72 per diluted share, compared to $149 million, or $1.00 per diluted share a year a
By Jonathan Saul and Anshuman Daga LONDON/SINGAPORE (Reuters) – Singapore Exchange Ltd (SGX) plans to buy one of London’s oldest institutions, the Baltic Exchange where shipping rates are published, and urged shareholders on Thursday to support a deal. As the global shipping industry struggles with
Norwegian safety watchdog, the Petroleum Safety Authority (PSA), has found improvement points during an audit of Statoil’s design engineering of the Johan Sverdrup riser platform. PSA said on Friday that the audit was conducted during meetings with Statoil and Kværner in Oslo on May 2 and 3, 2016. T
Teekay Offshore has canceled construction contracts for two newbuild cylindrical flotels with China’s Cosco shipyard. The company said on Thursday in its second quarter 2016 results report it canceled the construction contracts for two units for maintenance and safety (UMS) and, as a result, incurre
Crowley Maritime Corp.’s LNG services group has secured a multi-year contract to supply containerized LNG from the U.S. mainland to Molinos de Puerto Rico, the Caribbean arm of Ardent Mills. The contract, executed through Crowley’s subsidiary Carib Energy (USA) LLC, includes both the supply and tran
During the first Offshore Energy Opening Gala Dinner to be held in Amsterdam, the Netherlands, on Monday, October 24th, Navingo brings the industry together to celebrate some of these successes by presenting three industry awards. Nominations for the awards can still be handed in, but this must be d
The latest amendments to the MARPOL Annex I for the prevention of oil pollution are scheduled to come into effect on October 1, 2016, according to Marine Department of the Government of Hong Kong. The amendment regulation states that oil residue (sludge) tank for machinery space should be provided w
Monaco-based LNG shipper GaLog posted higher revenue in the second quarter boosted by more operating days and new LNG tanker additions to its fleet. Revenue stood at $114.5 million in the second quarter this year as compared to $104.4 million for the year-ago quarter, GasLog said in its results repo
Deepwater Wind’s CEO Jeffrey Grybowski has shared images of the the jack-up installation vessel Brave Tern as it attaches the final blade and completes the installation of the first offshore wind turbine in US waters, and the first of five wind turbines to be installed on the 30MW Block Island wind
