Petronas of Malaysia on Tuesday said it will cut 1000 jobs as part of its group-wide transformation resulting from the effects of the current oil market.
More and more offshore vessels are being sold, stacked or scrapped with offshore vessel owners aiming to cut costs amid the lack of demand caused by the low oil prices. GulfMark offshore, for example, sold three older vessels during 2015, in order to “high-grade” their fleet. Quintin Kneen, Presiden
Norwegian supply, subsea and seismic shipping company, Eidesvik Offshore, has posted a fourth-quarter 2015 net loss despite rise in revenues. The shipping company’s net loss was NOK 202,3 million in the fourth quarter of 2015, compared to NOK 252,9 million in 4Q 2014. For the fourth quarter of 2015,
The International Transport Workers’ Federation (ITF) has fiercely criticized Australia’s Queensland Sugar Limited for its “reckless and heartless chartering policy”. Namely, QSL has hired the notorius Greek owned ship Ken Sirius, also referred to as the ship of shame, under a lucrative shipping dea
Panamanian-flagged Capesize bulk carrier New Katerina remains aground in the Suez Canal and efforts are underway to lighten the ship so as to remove it from the scene. The ship has sustained considerable damage in its fore part due to the grounding and has reported water ingress with some of its com
Malaysian oil and gas company Petronas is set to cut around 1.000 jobs. Petronas on Tuesday announced a company-wide organisational restructuring, saying the new structure is designed for “a flatter, leaner and more efficient business operating model” and is a part of “deliberate, sequential measure
Origin Energy of Australia said Tuesday it has signed a non-binding heads of agreement with a unit of China’s privately-owned ENN Energy for the supply of 500,000 tonnes of LNG per year for a period of five years.
A new study says developing a 30 million tonnes per annum LNG industry in British Columbia would grow Canada’s economy by an average of $7.4 billion per year over the next 30 years.
Women are gaining more attention in shipping, shipbuilding and related areas, as the current shortage of skilled people has opened an opportunity for them. Given that a study by the Peterson Institute in Washington, published in February 2016, found that “more women means more profit,” women will ta
Norwegian offshore shipowner Farstad Shipping has sold the Lady Grete, a 72 meters long platform supply vessel. According to the company, the 2002-built vessel was sold by its Singapore subsidiary Farstad Shipping Pte. Ltd. The shipowner did not reveal the name of the customer, but said only that de
Energy World Corp, the company developing LNG projects in the Philippines and Indonesia has set the start-up date of its projects for the end of the current year.
Siemens has installed the last of the 48 turbines at the 144MW Westermeerwind Wind Farm, the largest near-shore wind farm in the Netherlands. The Westermeerwind will be commissioned following a test phase, and it will provide enough power to meet the demand of around 160,000 Dutch households. Anne d
Norwegian shipping company Farstad Shipping has decided to reduce the size of the organization at the office in Aalesund, Norway by 26 positions. In January, the company started a process with the aim of reducing administrative expenses at the office in Aalesund. According to Farstad, the employees
Brazilian oil company Petrobras has informed that the previously announced sale of stake in its two Campos basin fields will not proceed. The announcement relates to the sale of Petrobras’ 20% interest in the concessions of Bijupirá and Salema, signed on July 1st, 2015, with PetroRio S.A. Petrobras
