The Panama Canal Authority (ACP) has issued the third draft restriction amid lower water levels of the Gatun Lake. As of May 9, 2016 the maximum authorized transit draft is set at 11.59 meters Tropical Fresh Water (TFW), the ACP said. Vessels loaded to drafts over 11.59 meters prior to or on April 1
The US West Coast ports have experienced an increase in container volumes during the first three months of 2016, as the ports of Los Angeles and Long Beach saw their busiest quarters in years. The port of Los Angeles handled more than 2 million TEUs during the first quarter of 2016, representing an
The offshore wind industry will have a new reference directory at Seawork International in June: the Offshore WIND Vessel Directory 2016. This third edition of the directory offers an updated overview of available vessels in the market, including a new category: the Multicat work boats. For this thi
Inpex-operated multi-billion dollar Ichthys LNG project in Western Australia is 81 percent complete, Louis Bon, managing director of the Ichthys project said on Friday. Speaking on the sidelines of the LNG18 conference in Perth, Bon said that the $37 billion LNG project, which was previously delayed
The multipurpose shipping market is not expected to recover until the end of 2017, when more bulk demand is anticipated for the Handy vessels and therefore more breakbulk cargoes for multipurpose vessels, according to the latest report from shipping consultancy Drewry. The last 12 months have been d
British Columbia’s minister of natural gas development Rich Coleman recently returned from Japan where he held talks with a number of companies interested in BC’s LNG potential.
Beach Energy of Australia informed on Friday it has decided to withdraw from the Basker, Manta and Gummy gas field permits (BMG joint venture).
Paris-based Air Liquide said it has acquired a dual mixed refrigerant technology called Liquefin from the French public research company IFPEN.
The Norwegian Petroleum Directorate, a government agency whose task is to manage the oil and gas resources on the Norwegian Continental Shelf, has reported that Norway’s oil production in March 2015 was 4 pct higher than in the same period last year. According to the NPD, preliminary production figu
BP shareholders have reportedly voted against the hefty salary package proposed by the board for the oil giant’s CEO Bob Dudley. According to Reuters, Dudley, who took over as CEO from Tony Hayward following the Deepwater Horizon disaster in 2010, was to receive a $19.6 million compensation for 2015
Growth in global oil demand will ease to around 1.2 million barrels per day (mb/d) in 2016, below the 1.8 mb/d expansion of last year as notable decelerations take hold across China, the United States and much of Europe, the newly released IEA Oil Market Report (OMR) for April has informed. Accordin
Irish ports recorded a 7% increase in total volume of traffic in 2015, with all major traffic modes delivering substantial growth, according to the Irish Maritime Development Office (IMDO). The total volume of traffic that moved through Irish ports in 2015 reached its highest level since 2008, at 97
Italian offshore contractor Saipem has secured a new contract related to the offshore section of the Trans Adriatic Pipeline project. The contract has been awarded by Trans Adriatic Pipeline AG, a joint venture between BP, SOCAR, Snam S.p.A., Fluxys, Enagás and Axpo. The Engineering, Procurement, Co
Energy XXI, a U.S. Gulf of Mexico oil producer, has filed for bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas, Houston Division. The company entered Chapter 11, after it reached an agreement with some of its noteholders on the restructuring of the compa
