News

The World Shipping Council and regulators in Japan say their joint plan on vessel efficiency would set fees for operators of ships that do not meet new environmental and energy standards.

High availability of vessels is pressuring Asia crude tanker markets, while rates for ships that carry clean petroleum products have remained largely steady, defying expectations

Spot container freight rates from Asia to the United States plunged dropping 6.7 percent over the past week, a new sign that excess vessel capacity is eroding rates,

Scorpio Tankers Inc. announced yesterday that it has amended its 2010 Credit Facility converting it to a reducing revolving credit facility from a term loan and that

Mitsui O.S.K. Lines, Ltd. yesterday announced the exterior and basic design of the hybrid car carrier aiming at zero emissions while berthed had been determined.

Wärtsilä has recently been awarded a series of orders to supply propulsion solutions for dredger vessels to be built in China and the Netherlands. Since dredging applications

Electric utility Ente Vasco de la Energia has inaugurated the Mutriku wave power plant, the world's first in commercial operation.

Metso will supply a 100MW biomass boiler island and plant automation system to Gainesville Renewable Energy Center (GREC) in Florida, US.

India has completed a feasibility study for the planned construction of a 1.3GW coal-fired power plant in Khulna, Bangladesh.

AVEVA, a leader in engineering design and information management solutions for the plant, power and marine industries, yesterday announced a new customer

Mitsubishi Heavy Industries, Ltd. (MHI) has completed development of a new-generation liquefied natural gas (LNG) carrier marking an evolutionary advance

The Organization of Petroleum Exporting Countries said in its monthly report Tuesday that its oil production increased to 29.6 million barrels a day in June, 0.5 million barrels a day

Saudi Arabia’s oil revenues will reach $324 billion this year, a sharp increase from the $153 billion in 2010 income.The International Monetary Fund, which released the estimate

Large integrated oil companies have reduced their US refining capacity by nearly 10% in the past 30 months, and could reach as low as 20.245 million b/d by the end of the year,

In 2010, the BTC pipeline exported 37m tonnes of oil.The Baku-Tbilisi-Ceyhan pipeline is to export 21.7m barrels (2.93m tonnes) of oil from Azeri-Chirag-Guneshli block of

OAO TMK, Russia’s largest producer of steel pipes for the oil and gas industry, posted a 17 percent increase in shipments in the second quarter as demand from energy producers increased.

An oil executive says Royal Dutch Shell PLC and Japan's Mitsubishi Corp. have signed an initial deal with Iraq to tap natural gas in the country's south.Shell's Vice President

South Korea's state-run Korea Gas Corp (KOGAS) said on Monday it had sold gas equivalent to 2.07 million tonnes of liquefied natural gas (LNG) domestically in June, up 17 percent from a

The mandatory application of energy efficiency measures for ships and further consideration of market-based measures (MBMs) are the issues garnering most attention

There is growing enthusiasm for the use of liquefied natural gas for marine fuel, largely on account of its availability (with many new LNG sources expected to come on stream shortly)