News

Oil and gas industry leaders have forecast improved performance and higher levels of capital expenditure this year, despite concerns over global economic instability, according to a new report on the future of the sector.

The head of Iran's state oil company said Sunday that the price of crude will reach $120 to $150 per barrel, as officials in Tehran prepare to discuss a ban on crude sales to European Union countries in retaliation for an EU embargo

Indian refiners processed 0.8 percent more oil in December from a year ago, the second straight monthly rise, as local fuel demand and Asian refining margins eased during the month.

Natural-gas producers have been announcing reductions to output levels lately, and that could be the start of a new trend that helps rejuvenate the fuel’s prices, which have languished at levels that are unprofitable for many producers.

The warning signs being flashed by the collapsing Baltic Dry Index (BDI), a leading global economic indicator, may reflect the folly of misguided expectations during the prior global economic boom, according to Hong Kong-based shipping analysts.

Rates for dirty tankers on key Asian freight routes are expected to rise over the next week as spot market activity picks up again with the return of Chinese traders from holiday.

With ports and sea freight in the Middle East expanding and regional shipping lines facing unprecedented challenges, leaders in international business and government will meet

The signing ceremony of cooperative agreement between Nantong COSCO Heavy Industry Co.,Ltd. (CHIC) and Italy Remazel Co. was held on January 17 in Shanghai.

Fairstar Heavy Transport N.V. (FAIR) has been awarded two contracts by Saipem to provide marine transportation services for the Golden Eagle Project in the North Sea.

Maersk Line will switch to low-sulfur fuel while at berth for all of its containerships calling the Port of Virginia starting in February.

Havila Shipping announced that it has entered into an agreement with FugroTSM in Australia for a two year extension of the contract for the subsea vessel Havila Harmony.

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Sergey Frank, Director General of Sovcomflot.

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced today that it has chartered out five newbuilding MR2 product tankers.

EnQuest’s option to purchase Bluewater’s FPSO Uisge Gorm has been exercised and the sale was completed on Wednesday 25th of January 2012.

On 13 January, the Italian cruise ship, Costa Concordia, ran aground after hitting a reef off Isola del Giglio, Italy, with more than 4,000 passengers

DOF Rederi AS, a daughter company of DOF ASA, announced that it has entered into 2 new contracts and one extension of an existing contract with Shell.

Technip Oceania (TPO), a Technip Group ) operating centre in Perth, Australia, has been awarded a contract, worth approximately AUD110 million

OLYMPIC COMMANDER of the MT6015 design was delivered to its owners today.

The Port Authority asked McKinsey to make an analysis of the demand for and availability of container throughput capacity in Rotterdam

SCF Group (Sovcomflot) saw its fleet expand further, on 18 January 2012, with the delivery and acceptance into operation of a new product tanker SCF Progress