Malaysia’s MISC, one of the world’s largest LNG shipping companies, said Tuesday it expects tonnage oversupply to continue in the LNG shipping market this year as it posted an 87.1 percent drop in net profit in the fourth quarter. MISCs net profit plunged to 68.2 million ringgit ($17.3m) for the fou
Mexican naval units find 42 kg of cocaine attached to containership at the Port of Lázaro Cárdenas.
Oslo-based Awilco LNG, the owner of two 156,000-cbm LNG carriers, widened its net loss in the fourth quarter as compared to the same period the year before. Awilco LNG’s net loss rose to $4.5 million in the fourth quarter, as compared to $2.49 million in the same quarter last year. Compared to the p
Russian shipping company Sovcomflot and Sberbank have signed a new $106 million project financing agreement to finance the construction of a high ice class Arctic shuttle tanker.
Russian LNG export player Novatek, France’s Total and Italy’s Eni signed exploration and production agreements with the government of Lebanon to explore and produce hydrocarbons offshore the country. The deal includes offshore blocks 4 and 9 in the Eastern part of the Mediterranean Sea. Novatek, the
Water polluted by Sanchi oil tanker may reach coral reefs in Japan’s Ryukyu Island chain.
UK-based energy giant and LNG player BP has started gas production from the Atoll Phase One project, offshore Egypt. This project adds to the growing gas production in Egypt from new fields, resulting in substantial reduction in LNG imports as the country is looking to stop imports of the chilled fu
Singapore-based Ultra Deep Solutions is looking into the cost of building a hybrid deepwater flexible pipelay vessel.
Big fleets and the diverse ownership of the remainder of the VLCC fleet to cap consolidation in the sector.
2018 promises to be a good year for U.S. container ports building on solid market fundamentals like higher employment and improved confidence coupled with the pro-growth tax reform benefits, according to the Vice President for Supply Chain and Customs Policy of the U.S. National Retail Federation Jo
China has started the construction of a test field for autonomous ships in Zhuhai, Guangdong.
Carnarvon Petroleum has been awarded a new permit in the Southern Vulcan Sub-basin offshore Western Australia.
GulfMark Offshore has entered into a partnership with a Mexican company with an aim of expanding business activities in Mexico.
Drewry: Container spot rates to fall sharply after Chinese New Year, but will strengthen thereafter.
