Pirates have kidnapped 19 crew members from a crude oil tanker off Nigeria in an area where acts of piracy are on the rise, an official with the ship's operator said on Thursday.The loaded vessel, the Nave Constellation, was attacked 77 nautical miles off Bonny Island on Tuesday and 18 Indians and one Turk from the crew were seized, the official said.
China on Tuesday formally established China Shipbuilding Group, which the country's government-run broadcaster described as the world's largest shipbuilder.The group's establishment, reported by China Central Television (CCTV), comes after Beijing last month approved the merger of the country's two largest shipbuilders, China State Shipbuilding Corp and China Shipbuilding Industry Co.
Asia's hydrogen gas demand will rise as the region's oil refineries use the gas to produce low-sulfur fuel to meet new environmental regulations, the head of the world's largest industrial gas producer said."The demand for hydrogen has grown steadily over the years at a much faster rate than GDP growth
Seacor Holdings Announces Acquisition of Joint Venture Partner’s Interest in Sea-Vista.SEACOR Holdings Inc. announced that it has become the sole owner of its consolidated SEA-Vista joint venture, acquiring through a subsidiary the 49% interest that had been owned by an affiliate of Avista Capital Partners (the “Seller”).
China's two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings on Monday, the latest to join a wave of mergers among state-owned enterprises as the government overhauls the sector.The move by China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp Ltd (CSSC)
Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulfur fuel for ships, a senior company official said on Monday.The project consists of a crude distillation unit that can process 30
Norway-based ship owning company Ocean Yield ASA has taken delivery of the very large crude carriers (VLCC) Nissos Despotiko.The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the second in a series of four VLCCs that will be delivered to the Company in 2019.
New marine fuel rules to boost diesel prices for at least a year -analystsGlobal prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said.Marine fuels containing no more than 0.5% sulfur by weight, down from the 3.
The world's largest silent research vessel built by China was officially put into use, which will pave the way for the cultivation of innovative deep-sea talent and ocean science study.Built by Shanghai-based Jiangnan Shipyard (Group) Co., Ltd, the Dong Fang Hong 3 is the first Chinese research vessel and the world' fourth to have obtained a Silent-R certificate
Longshore workers at Canada's biggest port, the Port of Vancouver, were locked out on Thursday in a labor dispute over technology changes, temporarily grinding most shipping there to a halt. The lockout ended in a deal on Thursday with their employer after a few hours, the workers' union said.
Moda Midstream LLC is considering building a second berth at its Ingleside, Texas, crude export terminal to accommodate booming shale oil production on the Gulf Coast, the company's chief executive said on Thursday.The expansion to the terminal that loads oil tankers will come as three major pipelines open in the second half of 2019, CEO Bo McCall said in an interview.
The exposure of five Philippine banks to financially distressed Hanjin Heavy Industries and Construction Co. Philippines (HHIC-Phil), which recently declared bankruptcy after it defaulted on over $400 million in loans, could put pressure on their credit ratings.Their exposure to what may well be the largest corporate default in Philippine banking history may put pressure on the credit ratings of