Switzerland-based MET International, the natural gas trading arm of MET Group, has created a liquefied natural gas (LNG) trading desk that will be based at the company’s headquarters in Zug, Switzerland. Diego Galimberti, who was previously the head of long-term gas supplies and LNG at Axpo Trading,
London-based oil and gas exploration company, Ophir Energy, has posted a net loss for the 2015, and prepared for a challenging 2016 with reduction in capital expenditure. The company on Thursday reported a loss after taxation for the year of $322.5 million, compared to a profit of $54.8 million in 2
The economies of scale that have been a key feature of the liner industry, may be running out, shows Drewry’s study of the operational and financial impacts on lines, terminal operators, ports and other supply chain stakeholders as vessel size increases up to and beyond 18,000 teu. Since 2009, leadi
Import cargo volume at major US retail container ports is expected to grow toward the summer despite difficult comparisons with last year’s patterns, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. “Comparisons are still complica
The number of incidents of armed robbery against ships in Asia has reached its lowest level in February 2016 when compared to the previous twelve months, according to the latest report from Asian piracy watchdog ReCAAP ISC. There was a total of three incidents reported, none of which was related to
Up to half of US LNG exports to Europe could be shut-in over the next five years, depending on the prices of oil and coal and Russia’s export strategies, Wood Mackenzie said in a report on Wednesday.
South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) has reportedly announced that thousands of jobs will be cut by 2019. According to the Korea Herald, the daily newspaper with news from South Korea, DSME will cut 12,000 jobs, leaving the company with 30,000 employees by 2019 as part of ef
UK’s Port of London Authority (PLA) saw larger ships calling in 2015 as the tonnage of cargo handled at Thames terminals climbed by 2 percent to 45.4 million tonnes compared to 2014. “Last year a number of operators introduced new, bigger ships and records were broken. The record breakers included c
London-based Ophir Energy, the developer of the Fortuna FLNG project in Equatorial Guinea, has reported a $376 million pre-tax loss for 2015 due to plunging oil prices and booking impairments against its assets. Following the 34% reduction in the commodity price during the year, the company’s produc
The Port Regulation, adopted on 8 March in the plenary of the European Parliament, has little to no impact on the market access to ports from a shipment’s point of view, according to the Danish Shipowners’ Association. On the same day, the EU Parliament voted for the Knut Fleckenstein’s report, prev
PetroRio, a Brazilian oil and gas company, has announced it will not execute any new investments and it is terminating its exploratory activities offshore Namibia. PetroRio said that, after a long period of conversations with the Namibian government, the company chose not to proceed with its oil exp
British Columbia on Wednesday issued amendments aiming to clarify regulatory oversight of oil and gas facilities, including LNG.
Novatek, the operator of the Yamal LNG project set to begin production in 2017 said it has increased the number of company’s management committee members from nine to 12.
Technip Angola Engenharia Limitada, a joint venture between Technip and Sonangol, was awarded by Total E&P Angola a three-year engineering services contract. This contract covers services for the existing Girassol, Pazflor, Dalia and CLOV floating production storage and offloading (FPSO) units and a
