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Liberian Registry, ICS Challenge Brazilian Court Ruling

The Liberian Registry, in cooperation with the International Chamber of Shipping (ICS), has succeeded in helping the holder of a Liberian mortgage to overturn a decision of the Brazilian courts which, if left uncontested, could have had serious…

Trafigura to Develop Another Pakistan LNG Import Project

Swiss commodity trader Trafigura said it plans to develop its second liquefied natural gas (LNG) import terminal in Pakistan, alongside an existing project in which it has a minority stake. At a inauguration ceremony for Pakistan's second LNG import project…

Wison Signs MOU for Medium Large Floating LNG Power Solution

Wison Offshore & Marine has signed a Memorandum of Understanding (“MOU”) on strategic cooperation with Shanghai Electric Power Generation Group. Two parties will join their efforts in medium to large-scale floating LNG power generation barge…

Floating Production Systems Report And Online Database

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Deal for Floating LNG Powerplant in China

As the proliferation of LNG use spreads rapidly in the maritime and energy sectors, word from China is that Wison Offshore & Marine has signed an MoU with Shanghai Electric Power Generation Group, on a joint effrot to develop medium to large-scale floating LNG power generation barges.

Pakistan LNG Import Project Consortium Folds -Hoegh LNG

A consortium behind a liquefied natural gas (LNG) import project in Pakistan, including oil giant Exxon Mobil, France's Total and Qatar Petroleum, has been dissolved, shipping company Hoegh LNG said on Thursday. Hoegh LNG was due to supply the project's ship-based import terminal…

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BW Group, Mitsui Form FSRU Joint Venture

A joint venture agreement between Japan’s Mitsui & Co. and Singapore’s BW Group Limited will see Mitsui purchase a 49 percent share in the floating storage and regasification unit (FSRU) BW Integrity, while BW will maintain a 51 percent share.

GTT to Design LNG Tanks for New FSRU/LNG Carriers

GTT has won a contract to design the liquefied natural gas (LNG) tanks for two dual purpose vessels capable of operating as efficient LNG carriers and floating storage and regasification units (FSRUs) that are presently on order at Hudong-Zhonghua Shipbuilding (Group) Corp.

Petrobras Q3 Net Profit Falls, Misses Estimates for Large Rise

Petróleo Brasileiro SA's third-quarter profit fell compared with the second quarter, the Brazilian state-controlled oil giant said on Monday, missing analysts' forecasts for a big rise. Petrobras posted net profit of 266 million reais ($81.1 million) in the quarter…

Ghana, Exxon Discuss Deepwater Drilling

Ghana has opened talks with Exxon Mobil Corp to allow the U.S. oil firm to undertake deepwater exploration off the West African nation's coast, a deputy energy minister said on Monday. "The negotiations are ongoing according to our current laws ...

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Asian Floating Storage Declines as Crude Market Tightens

Strong demand is tightening the market but rising US output could sap efforts to rebalance market. The amount of oil stored on tankers around Singapore has dropped sharply in the last months, the latest indication that OPEC-led supply cuts are successfully tightening crude markets even as U.S.

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LOI for Johan Castberg Hull Construction is Signed

Statoil is signing a letter of intent with Sembcorp Marine Rigs & Floaters Pte. Ltd in Singapore for the construction of the hull and integrated living quarters for the floating production, storage and offloading (FPSO) vessel that will be located on the Johan Castberg field in the Barents Sea.

Chinese Shipbuilder Wins Award for Largest Heavy Lifting Vessel

Shanghai Zhenhua Heavy Industries Company has built the largest heavy lifting vessel in the world which can carry up to 12,000 tons. The vessel, which took eight years to design and build, was awarded a special prize at the 19th China International Industry Fair in Shanghai.

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Oil Prices Rise on Supply Cuts, Tensions

Oil prices rose nearly 1 percent on Thursday, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia. Brent crude oil was up 59 cents or 0.9 percent to $64.08 a barrel by 11:30 a.m.

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Arctic Oil Expansion Panned by Scientists

A group of 37 U.S.-based scientists whose research focuses on Arctic wildlife asked two U.S. senators in a letter on Thursday not to open the National Arctic Wildlife Refuge to oil and gas exploration, according to a copy seen by Reuters. The scientists…

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SBM Offshore: The Cost of Corruption Rises

Marine engineering group SBM Offshore said a Brazilian investigation into its role in corruption cases had not been resolved and set aside an additional $238 million provision on Monday to cover costs from an unexpected U.S. inquiry. The Dutch…

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ConocoPhillips Aims to Spend $5.5 bln/year

ConocoPhillips said it would spend $5.5 billion annually for the rest of the decade on capital projects as long as oil prices stay above $50 per barrel. The Houston-based company also said it expects to pay off more than $4.6 billion of debt by 2020, reducing its debt load to $15 billion.

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Eni Could Restart Arctic Goliat Oilfield 'Within Weeks'

Italy's Eni could restart the Goliat oilfield in the Barents Sea "within weeks" after completing an inspection and repairs, an Eni spokesman said on Monday. Norway's Petroleum Safety Authority on Oct. 6 ordered a production halt at the 100,000 barrel per day oilfield…

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Launch: MarTID - the Global Maritime Training Insights Database

MarTID – the Maritime Training Insights Database -- a historic initiative to study global maritime training practices -- launches today. There is broad agreement that as much as 80% of maritime accidents involve human factors causes. As such…

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Egina FPSO Leaves SHI's Geoje Shipyard

Samsung Heavy Industries (SHI) successfully completed Geoje-shipyard portion of the world's largest sized Egina FPSO. The gigantic floater left for Nigeria on 31th October 2017. SHI has now fulfilled successful delivery or sail-away of three massive offshore projects as scheduled.

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Wison, KBR Team up for FLNG Project

Wison Offshore & Marine said it has signed a memorandum with KBR, Inc. for cooperation on a 1.5 MPTA floating liquefied natural gas (LNG) liquefaction unit (FLNG) in Southeast Asia. The companies will collaborate on a mutually exclusive basis…

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