The Northwest Seaport Alliance, a marine cargo operating partnership of the ports of Seattle and Tacoma, saw container volumes grow by 6 percent year to date in November, making this the ninth consecutive month of growth. Containerized exports improved by 11 percent to 1.2 million TEUs on the streng
U.S. oil company Anadarko will speed up the development of the Heidelberg oil field, located in the U.S. Gulf of Mexico. In an update on Thursday, Anadarko said that the project, being developed with a spar platform, was well ahead of schedule. According to the company, the Heidelberg field is now e
U.S. independent oil and gas company Noble Energy has moved a step closer to the development of the giant gas find in the Mediterranean – the Leviathan – after Israel’s government made a move to implement the natural gas framework. According to Noble Energy, which runs the field with Israel’s Delek
One of the biggest containerships in the world, the MSC Maya, owned by Swiss container line Mediterranean Shipping Company (MSC), made its maiden call at Associated British Ports (ABP) in Southampton on Tuesday. The 395.4m long vessel, which can carry a world-leading 19,224 containers, is the first
Six crew members are missing after a Cayman Islands-registered chemical tanker Stolt Commitment and Antigua and Barbuda-flagged freighter Thorco Cloud collided in the Singapore Strait in the evening hours of December 16. The 2004-built freighter, which was carrying 560 metric tonnes of bunker fuel,
One of Israel’s main cargo ports, the port of Ashdod, is about to be sanctioned financially in the amount of NIS 2.7 million (USD 693.6 thousand) for polluting the Mediterranean Sea, according to the country’s Ministry of Environmental Protection (MoEP). The sanctioning has been imposed as it has be
Lifting of the United States’ 40-year-long ban on crude oil exports seems to be closer than ever with the new spending bill agreed upon by the US congressional leaders. The USD 1.1 trillion spending and tax bill for the upcoming fiscal year needs to pass the House and the Senate vote before it is of
Quiz Courtesy: iContainers
Russia’s Novatek said on Thursday it has signed definitive agreements for the sale of a 9.9% equity stake in the $27 billion Yamal LNG project to China’s Silk Road Fund (SRF). The two companies also inked a deal under which SRF will provide a 15-year loan to Novatek worth about 730 million euros ($7
Ezion Holdings Limited, a Singapore-based provider of liftboats and service rigs has entered into a strategic cooperation agreement with a Chinese state-owned enterprise to support offshore wind projects in China. Under the agreement, Ezion will support the unnamed state-owned company by using its s
Californian Port of Los Angeles recorded an increase of 7 percent in the capacity handled in November, a total of 709,968 twenty-foot equivalent units (TEUs), compared to the same period last year. “We’ve seen container volumes at and above 700,000 TEUs for the past six months, which demonstrates co
A prolonged period of oversupply will keep oil prices lower for longer and continue to pressure issuers in the oil and gas industry in 2016, particularly those in the exploration & production (E&P) and drilling and oilfield services sectors (OFS), says Moody’s Investors Service. As a result, the rat
SBM Offshore, a Dutch company providing floating production solutions to the oil and gas industry, has completed the project financing of FPSO Turritella for a total of $800 million. The company said on Wednesday that project financing was secured by a consortium of twelve international banks with a
Teekay LNG Partners said it intends to cut quarterly cash distributions in order to use the portion of its internally generated cash flow to fund equity capital requirements.
