News

The first batch of oil industry’s foreign exchange bonds for current Iraniancalendar year (started March 21), worth 2.7 billion euros, will be offered next week through branches of three domestic banks, managing directorof the National Iranian Oil Company (NIOC), Mr. Qalebaniannounced here on Tuesday.

Noble Energy Inc. has applied to the Ministry of National Infrastructures for a permit to bring a fourth offshore drilling rig to Israel to develop the North Noa natural gas field.

IN A world facing rising energy prices in the midst of the worst economic crisis since the Great Depression, any discovery of new oil and gas deposits is welcome as another

Interpol has issued a global search warrant for two former officials of Vietnam's troubled state-owned shipbuilder, state media said Sunday.The wanted pair are Ho Ngoc Tung,

The growth of piracy off the coast of Somalia from an occasional nuisance to shipping into a multi-million-dollar criminal enterprise has another, often deliberately overlooked cost:

Rates for panamax dry bulk carriers on key Asian freight routes are expected to rise next week, supported by strong trans-Pacific grain shipments and intra-Asia coal trade.

Thoresen Thai Agencies PCL ("TTA") took delivery of the M.V. Thor Fortune, a brand new Supramax class dry bulk vessel. The ship, which was built by Oshima Shipbuilding Co., Ltd.,

Kazmortransflot, the shipping arm of Kazakh state oil and gas company KazMunaiGas, plans to spend around $800 million renewing its fleet over the next eight years and may

Ciner Shipping Industry & Trading, a subsidiary within Ciner Group, one of Turkey’s fastest growing commerce, industry and service conglomerates, has secured

Danish shipping company Unifeeder, a private equity-owned firm seen as a candidate for a bourse listing, expects growth in volumes this year, though weak freight rates

As latest statistics released from the major economies suggest slowdown in global economy ahead, most research houses have sounded cautious note on Asian

Members of the House Subcommittee on Coast Guard and Maritime Transportation said the Jones Act is critical to the national, economic, and homeland security

A key measure of commodity shipping costs - the Baltic Dry Index - has barely recovered from its plunge during the 2008 crisis. That meant shipping lines that carry raw materials

The number of crude oil tankers booked from the Middle East has surged 15 percent to a multi-year high this month due to an increase in Saudi Arabian exports, shipbrokers said.

In a world increasingly dominated by the need to reduce environmental impacts, what role does shipping have to play? Technological solutions exist, but which will prove

Underwriters at Lloyd’s of London, the world’s oldest insurance market, are reviewing the assertion of a U.S. lawmaker that ransoms paid to Somali pirates may

Morgan Stanley, the U.S. bank with commodity assets of about $8 billion, booked a capesize ship at what may be the lowest rent in 31 months as a glut of vessels weighed on transportation costs for raw materials.The bank hired the Anangel Explorer on

Total SA (FP), Europe’s third-biggest oil company, said the costs of developing energy projects are being dragged higher by oil prices.

In the shorter term, oil fundamentals remain in tightening mode, with sharp reductions in the prospects for non-OPEC supply and resilient global demand indicating the likelihood of an increased supply gap in Q3 in a world with a declining inventory cover and spare capacity, said Barclays in a report.

Western oil firms are unlikely to face widespread asset seizures or contract revisions as a result of Arab uprisings, thanks to deft diplomacy, legal protections and efforts to depict themselves as partners of the local citizenry