The Baltic Exchange’s main sea freight index inched higher on Monday, helped by stronger demand for panamax and supramax vessels. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 3 points to 1,558, its highest since Dec. 6. The index on …
Baltic index edges up on higher panamax, supramax rates Read More »
The IMO low sulphur fuel cap introduced in January 2020 has not eradicated the potential threats from cat fines, sludge, compatibility issues, asphaltene and fuel stability – the five key issues that can damage the health and maintenance of diesel engines, according to Aderco – one of the world’s leading fuel treatment technology suppliers. Aderco …
This article, written by Ian Teare and Matthew Dow of Law Firm, Wikborg Rein, discusses the judgment handed down in the Admiralty Court on the case of the Stema Barge II, and looks in detail at the scope and meaning on the Limitation Convention 1976. In determining the meaning of ‘Operator’, it was necessary for …
Following up on Stena Bulk’s successful biofuel trial in April, the company is now introducing low-carbon shipping options for its customers. Biofuel has the potential of putting shipping on the trajectory towards IMO’s greenhouse gas reduction targets, without having to wait for new technology and zero-carbon fuels to emerge as commercially viable options. Our recent …
Stena Bulk to Introduce Low-carbon Shipping Options Read More »
Tanker owners have a love-hate relationship with U.S. sanctions. On one hand, sanctions can pull perfectly good fleet capacity from the market, causing spot rates to skyrocket. On the other, your own perfectly good fleet capacity can get pulled from the market. What’s especially unnerving to tanker owners about U.S. sanctions is their apparent randomness: …
Will Venezuela sanctions spark another tanker spike? Read More »
LNG giant Shell expects to restart its Prelude FLNG facility offshore Western Australia before the start of the third quarter. Prelude FLNG (Image: Shell) Shell has not exported any cargoes from the giant FLNG for more than four months following an electrical trip on February 2. “Start-up timing will depend on Covid-19 constraints and compliance …
Swansea Bay Tidal Lagoon developers have called on the Prime Minister Boris Johnson to step in and overrule Whitehall officials who are preventing work starting on site. The Department of Business, Energy and Industrial Strategy (BEIS), has so far refused to sign off a decommissioning plan. Swansea Bay Tidal Lagoon CEO, Mark Shorrock, said: “We’re …
Oil and gas company Neptune Energy has decided to reshape the size of its global organisation due to the combined impact of the Covid-19 pandemic and the anticipation of lower commodity prices for a longer period of time. A spokesperson for Neptune told Offshore Energy that about 400 roles across nine countries will be affected …
Neptune Energy to axe 400 jobs over Covid-19 and lower oil prices Read More »
Russian oil and gas company Lukoil has started drilling several prospects in the northern part of the Caspian sea. Astra rig; Source: Lukoil Lukoil said on Monday that it started drilling an exploration well at the Shirotno-Rakushechnaya prospect located north of the V.I. Grayfer field. The well, with the target depth of 1,650 meters, was …
Lukoil begins drilling several Caspian Sea prospects Read More »
Total, Shell and eight offshore wind developers have joined Offshore Renewable Energy (ORE) Catapult’s national Floating Offshore Wind Centre of Excellence (FOWCoE) in the UK. The eight offshore wind developers include EDF Renewables, EDP Renewables, Equinor, ESB, Mainstream Renewable Power, ScottishPower Renewables, SSE Renewables, and Offshore Wind Power Ltd (OWPL), a Joint Venture between the …
Total, Shell join UK’s floating wind centre of excellence Read More »
