What comes next for maritime transactional processes?

In January 2020, Pole Star and TradeIX partnered up to enable the streamlining of maritime transactional processes and the securing of sensitive data. The partnership provides a fully automated vessel sanctions screening solution to the network’s member banks, their corporate clients, and the extended trade ecosystem, allowing organisations to increase the capacity and velocity of …

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Unwinding floating storage to loom on tanker markets through H2 2020

Tanker freight rates are expected to see continued pressure from unwinding floating storage for the remainder of the second half of 2020, shipowners Diamond S Shipping and Teekay Tankers Ltd. said in second-quarter 2020 earnings calls Aug. 13. Both calls focused on the global bearish impact that the destocking of both crude and refined product …

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Bristol Community College and Maersk Training announce international offshore wind training partnership

Bristol Community College’s National Offshore Wind Institute (NOWI) announced today that it has entered a global partnership with one of the world’s largest and most trusted providers of offshore wind training, Maersk Training. “Bristol is proud to partner with globally recognized Maersk Training, whose expertise and experience will elevate the college’s leadership in training the …

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TTA Reports Second-Quarter Results with Improved Performance for Most Core Businesses

Despite the pandemic of COVID-19 and strong headwinds from reduced demand and lower oil prices, Thoresen Thai Agencies Public Company Limited (TTA) reported that most key businesses delivered improved performance because of unrivalled financial and operational strength, agile workforce and unique expertise in the industry. In 2Q/2020, TTA reported gross profits increased 10%QoQ to Baht …

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Coronavirus Force Majeure Declarations by LNG Buyers: a Negotiating Tool or a Legitimate Case of Force Majeure for LNG SPAs Governed by English Law?

Before the COVID-19 coronavirus outbreak, Asian spot liquefied natural gas (LNG) prices were already at historic lows due to a warm winter and oversupply. Now, with multiple Chinese cities under quarantine, drops in local demand in China have resulted in further price declines, pushing prices to record lows. In response to the epidemic, major Chinese …

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SubseaPartner gears up for diving work with Var Energi

SubseaPartner is getting ready to start work under the three-year frame agreement awarded by Var Energi for planned or unplanned inspection, maintenance, modification, construction, repair, and installation work using manned underwater operations as intervention method. In June, Var Energi issued a call-off for approximately 21 days offshore campaign at the Balder field. As part of …

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