An oil exploration vessel contracted by Malaysian state energy company Petronas that was involved in a standoff with a Chinese survey vessel in the South China Sea left the disputed waters on Tuesday, three security sources and the vessel operator said.Petronas has been conducting exploration activities near an area claimed by Malaysia and Vietnam as well as by China since late last year.
Supertanker freight rates eased this week as surging demand for floating storage cooled and crude oil output is set to fall, but rates could jump again as fewer tankers become available and as traders take advantage of weak oil prices, sources said.Tanker rates jumped earlier in the week after U.S.
While facing the same challenging market conditions as offshore vessel owners and service companies worldwide, Norway’s Island Offshore recently broke free from the enforced conservatism of the E&P sector, by adding not just a new ship to its fleet, but one that re-writes the rulebook in capabilities, technology and despite its size and power, environmental credentials.
Britain's oil and gas sector association OGUK on Thursday banned people from traveling to offshore installations such as platforms if they have traveled to certain countries affected by the coronavirus in the previous 14 days.The ban comes after Equinor reported the oil industry's first coronavirus infection on an offshore installation on Wednesday
A test carried out on Thursday on a passenger from Macau aboard a cruise ship in Italy proved she did not have the new coronavirus, an Italian health ministry spokesman said.The Costa Crociere company’s ship Costa Smeralda docked in Civitavecchia, north of Rome, with about 6,000 people aboard.
South Korea's military said on Tuesday it plans to expand the deployment of an anti-piracy unit now operating off the coast of Africa to the area around the Strait of Hormuz, after the United States pressed for help in guarding oil tankers.Attacks on oil tankers in the Strait of Hormuz off the coast of Iran last year prompted U.S.
At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed.The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.U.N.
Eight people were abducted and one person injured during an armed raid overnight on a Greek-registered tanker anchored off Cameroon, Greek authorities said on Tuesday.Greece's shipping ministry said the Happy Lady tanker was two nautical miles off the port of Limboh in Cameroon when it was stormed by individuals who were armed.
Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.
Imagine a power distribution network where excess renewable energy from hydropower, wind, solar, and nuclear energy is converted to hydrogen and used as transportation fuel in the maritime industry. With the allure of a zero emissions fuel, a number of ship owners are starting to seriously consider hydrogen for newly built vessels.
International mining company BHP BHP floated a bulk carrier tender for LNG-fueled transport for up to 27 million tonnes of its iron ore.The Melbourne-based resource company said in a release that this is the world’s first bulk carrier tender for LNG-fueled iron ore vessel.The mining giant is considering LNG as a way to eliminate nitrogen oxide and sulfur oxide emissions by launching the world’s
Chicago-based CC Industries acquired Southern Towing Company (STC) from Trive Capital and McCombs Partners. Founded in 1958, STC is one of the largest operators of towboats and barges along the inland waterways of the United States.This acquisition expands CCI’s portfolio of industry-leading businesses, and marks another CCI investment in the transportation equipment and logistics sector.