The demolitions of dry bulk carriers hit a monthly record high in March, an analyst revealed. Speaking at Sea Asia on 21 April, Braemar ACM shipping analyst Peter Malpas revealed that over 5 million ...
Bulker scrappings hit record high in March
GasLog tightens BG ties
NYSE-listed GasLog will charter up to nine LNG carrier newbuildings to the BG Group, which is in the process of being acquired by Royal Dutch Shell. GasLog announced on 21 April that BG will charter ...
Small tankers still vulnerable in SE Asia
One coastal tanker is hijacked every two weeks on average in Southeast Asia, the latest piracy report from the International Maritime Bureau (IMB) has warned. "The frequency of these hijackings in ...
US senator urges export ban lifting
The ban on US crude oil exports is "a sanction on itself", US senator Lisa Murkowski told delegates at the opening day of CERAWeek. The senior senator for Alaska, who is chairman of the Senate Energy ...
Demographic dilemma for Big Oil
Oil companies struggling to come to terms with a low oil price environment are facing two critical issues: how to respond to plunging revenues and how to retain skilled engineers. Stephen Chazen, ...
Pan Ocean to raise USD785 million
South Korean bulker operator Pan Ocean is to raise KRW850 billion (USD785 million) through the issuance of 340 million shares in a paid-in capital increase. The shares, worth KRW2,500 each, would be ...
Oil majors see low price environment
Falling oil price is part of the business cycle, "not oil Armageddon or the end of fossil fuels," believes Shaikh Nawaf Al-Sabah, CEO of Kuwait Petroleum Exploration Company. He told a CERAWeek ...
Ocean Yield plans bond issue
Ocean Yield, the listed Norwegian company that invests in ships and offshore assets it charters for third parties, said it is contemplating issuing a bond. "Ocean Yield ASA is contemplating the ...
Carnival cruise ship forced to ride out storm as Sydney port shuts
Carnival cruise ship Carnival Spirit has been unable to dock in the Port of Sydney due to severe storms affecting the New South Wales region. Reports have Sydney Harbour, Port Botany and Port Kembla ...
‘Unified’ EU to take military action in the Med
The European Union (EU) has announced that it will launch a "civil and military" offensive in the Mediterranean Sea to "systematically capture and destroy" vessels used by people smugglers. Part of a ...
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