Ahead of the anticipated increase in the number of ships visiting New Zealand and a trend to ever bigger ships, Maritime New Zealand has conducted a review of coastal navigation safety which found that there is a sound framework in place to manage the movement of ships around the New Zealand coast.
There is no justification for restrictions on travel or trade due to the outbreak of the Zika virus, the International Maritime Organization (IMO) said in a circular letter. The conclusion was reached at the Emergency Committee of the World Health Organization (WHO), convened in February 2016. The a
The High Court of Justice in England and Wales has on Thursday approved the multi-billion merger between Shell and BG Group. The court has sanctioned the scheme of arrangement “under Part 26 of the Companies Act 2006 by which the recommended cash and share offer made by Royal Dutch Shell for the ent
UK’s BG Group has informed that the High Court of Justice in England and Wales has today sanctioned the scheme of arrangement by which the recommended cash and share offer made by Royal Dutch Shell plc to take over BG is being implemented. According to BG Group, it is expected that the effective dat
Oil and gas industry juggernaut Shell has cancelled a multi-billion bridged credit facility, originally meant to be used in support of the Shell’s $50 billion takeover of BG Group. Shell in May 2015 as borrower, entered into a £10.07 billion ($14.5 billion) bridge credit facility agreement with a gr
OSD-IMT has secured an order for an IMT2001 scientific research vessel for the Taiwanese Ocean Research Institute (TORI). It will be used for supporting long-term oceanographic observation programs including operating unmanned ROVs, terrain survey and mapping, seismic pattern detection, long-core sa
SBM Offshore, a Dutch-based provider of floating production systems to the international offshore oil and gas industry, will lay off more workers in 2016. To remind, the company in 2015 slashed around 3,200 positions, of which 1,500 were full-time employees and contractor staff. According to SBM, th
Japan’s Jera Co, a joint venture between Chubu Electric and Tepco, expects to have 30-40 mtpa of contracted LNG volumes by 2030-31, compared with 40 mtpa now. Jera said in its 15-year business plan released on Wednesday it will be changing its LNG purchasing strategy as it is “building procurement a
UK-based oil and gas giant BP expects fossil fuels to remain the dominant form of energy over the period to 2035, according to the 2016 edition of the “BP Energy Outlook”. Despite the rapid growth of other sources, fossil fuels “will remain the dominant form of energy over the period to 2035, meetin
Oil slid on Thursday, dented by record U.S. crude inventories at the Cushing delivery point, worries about the demand outlook, and as Goldman Sachs said prices would remain low and volatile until the second half of the year.
The second-busiest container port in the United States, Port of Long Beach, has logged its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments in January of 2016, compared to the same month in 2015. During the month, the port’s terminals moved a total of 536
French gas and oil giant Total reported on Thursday a decrease of 26% and 18% in its fourth quarter and full-year 2015 adjusted net income. “Hydrocarbon prices fell sharply in 2015 with Brent decreasing by around 50%. In this context, Total generated adjusted net results of $10.5 billion, a decrease
Australia’s services and engineering company Neptune been awarded an air diving services contract by Technip for the Kitan oil field disconnection project, in the Timor Sea. The Kitan oil field was discovered in 2008 and the production started in October 2011. The field is developed by a subsea prod
The low oil price has resulted in a substantial decline in the E&P spending, and a corresponding sharp deterioration of the market for geophysical services, Electromagnetic Geoservices (EMGS), a Norwegian geophysical services company, said on Thursday. During 2015, EMGS implemented cost reduction me
