Mitsubishi Heavy Industries, Ltd. (MHI) has received one of this year's 'Best IR Awards' presented annually by the Japan Investor Relations Association (JIRA). The company was cited for the clear and detailed way in which it has delineated…
The Fiscal Year 2015 Operating and Capital Budget was approved Thursday during a special meeting of the Port Commission of the Port of Houston Authority. Projections by the Port Authority anticipate increased revenues in 2015, driven…
Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.The rig contract will cease with effect from 21 November 2014…
The United States welcomes an agreement between Iraq's central government in Baghdad and its northern Kurdistan region over the management of oil exports, U.S. Vice President Joe Biden said on Saturday.Biden told an Atlantic Council summit…
Nigeria plans to cut subsidies on petroleum products by half next year after sharp falls in global crude prices, spurred the government to revise its 2015 budget downwards, data from the revised budget seen by Reuters showed on Friday.President…
The National Retail Federation has issued the following statement from President and CEO Matthew Shay on reports that the International Longshore and Warehouse Union and Pacific Maritime Association are taking a break from contract negotiations…
Electromagnetic Geoservices ASA (EMGS) has received a contract worth USD 1.5 million for a research project in Brazil. The project will use 3D EM data to map shallow gas hydrates in the Pelotas Basin.The project is a collaboration between…
Rosneft reports on 100% completion of the geological survey program on Company's offshore license areas for 2014.In the current year geological survey covered 24 license areas with the scope considerably exceeding license obligations…
DGS Marine, a leading global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I facility, has highlighted the benefits of fixed premium P&I cover for ship owners and operators in the Middle East…
To offset the additional cost incurred by switching to cleaner fuels in Emission Control Areas, as required by the new regulation, Maersk Line will introduce a new Low Sulphur Surcharge (LSS). The surcharge will be effective from 1 January 2015 and affect all cargo with load port…
Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds an “insignificant commercial impact” for its business as the company has had only limited financial exposure towards OW Bunker…
Carnival Corporation & plc released a report today detailing its sustainability efforts, including initiatives which enabled the company to meet its corporate goal to reduce its rate of CO2 emissions from shipboard operations by 20 percent, a year ahead of its initial plan…
Nordic American Tankers Limited Chairman & CEO Herbjørn Hansson addressed the impacts of low oil prices on the tanker business in a letter to shareholders, citing the decrease in oil price as an overall positive for the world tanker market and…
Tug engineers withdrew plans to strike at Port Hedland, Australia's biggest iron ore port, tug operator Teekay Shipping said on Thursday, removing a threat to exports from BHP Billiton and Fortescue Metals Group Ltd.The Australian Institute…
China and India will account for about 35% of global oil trade in the next 10 to 15 years, according to predictions by Harald Lone, Chairman and CEO of Newport Shipping Group. Many traditional global shipbuilding patterns are in flux with the proliferation of oil and gas coming from the U…
