Vantage Drilling, an international offshore drilling contractor, on Wednesday reported a net loss of $8.8 million in the fourth quarter of 2015, as compared to earnings of $27.6 million for the same period in the year before. In December 2015, the company, with an owned fleet of three ultra-deepwate
Norwegian main industrial trade union, Fellesforbundet, ceased its wage negotiations with employers’ association Norsk Industri on Tuesday thus increasing the risk of strike action that would affect 800 companies, including the country’s oil sector. The parties will now enter a mediation period hand
Eurogas, the association representing European gas distributors on Wednesday estimates the gas consumption went up 4 percent in 2015 compared to the year before.
Legislation cutting nitrogen oxides (NOx) from shipping in the Baltic and North Seas has moved a step closer with a decision by countries bordering the Baltic Sea to apply for tighter NOx limits in designated so-called ‘emission control areas’ (ECAs), the European association of environmental organi
The hijacked Indonesian tug Brahma 12 has been released and is now being held by the Philippine authorities, the Indonesian Ministry of Foreign Affairs told World Maritime News in an emailed statement. Meanwhile, the Indonesian-flagged barge, the Anand 12, with its 10 crew members are still being he
Nam Cheong, Malaysia’s offshore support vessel builder, has received a notice of termination from Perdana Petroleum’s subsidiary, Petra Offshore, purporting to terminate the contract for the sale of one Accommodation Work Barge (AWB). Nam Cheong entered into a contract with Petra Offshore for two AW
British prompt gas prices rose early on Wednesday due to an undersupplied system as lower wind power generation boosted demand for gas-fuelled power plants.
A consortium of Port of Frederikshavn, Koran Crisplant and Stena Line have on Tuesday kicked off the EU co-financed Nordic Maritime Hub project.
2016 is to be an extremely difficult year for many segments of the maritime industry, says the Norwegian Shipowners’ Association in its yearly outlook report, anticipating weaker profitability, job losses and tighter capital access. “Expectations for developments in the capital market through 2016 a
A Panamanian-flagged general ship anchored at the Port of Haifa has been fined NIS 6,000 (approximately USD 1,580) after its wastewater sanitation system discharged effluents into the sea, Israel’s Ministry of Environmental Protection said. The Marine Environment Protection Division of the Ministry
With the continuously falling oil prices and competition from emerging markets, offshore companies are seeking new solutions.
Liquefied natural gas imports into Brazil are on a decline as thermal power generation declines by 37.7 percent in the first three months of March, compared to the same period in 2015.
India boosted its LNG imports in February by almost 63 percent due to the revised deal with Qatar and spot prices declining to below US$5 per mmBtu. The country’s LNG imports in February rose to 1,788 mmscm from 1,100 mmscm a year ago, according to the data from oil ministry’s Petroleum Planning and
BP, oil major with headquarters in the UK, is reportedly planning to axe hundreds of jobs in Houston as part of its round of layoffs announced earlier this year. Houston Business Journal reported, citing a letter the company sent to the Texas Workforce Commission, that BP would cut at least 500 jobs
