Hornbeck Offshore Services has filed for chapter 11 to implement a prepackaged reorganization plan, according to a court filing in the U.S. Bankruptcy Court in Houston.The U.S.-based offshore vessel owner with more than $1 billion in long-term debt announed in March that it was negotiating wth lenders a restructuring support agreement and said it was moving toward a preackaged chapter 11 filing
The U.S. Postal Service is using ships for overseas transport as the number of commercial flights typically used to send mail abroad has plummeted due to the coronavirus pandemic. The agency said on April 23 that a first mail shipment bound for Europe departed JFK International Service Center in New York three days earlier and is being transported on a containership scheduled to arrive at the
Oil traders are hiring expensive U.S. vessels, normally only used for domestic shipments, to store gasoline or ship fuel overseas, five shipping sources said, in a sign of the energy industry's desperation for places to park petroleum amid a 30% drop in worldwide demand.Billions of people worldwide are living under confinement rules due to the coronavirus pandemic
The 2020 Offshore Technology Conference (OTC) has been canceled due to the coronavirus pandemic."While OTC’s purpose is to provide an opportunity for those in the offshore petroleum industry from around the world to meet and share knowledge, our first priority is to the health and safety of our attendees and exhibitors.
Offshore Technology Conference 2020, one of the world's largest conferences and exhibitions dedicated to the offshore energy industry, will be postponed this year due to the coronavirus outbreak.The OTC 2020 organizers said on Friday that the conference, originally scheduled for May 4-7, 2020, would be delayed.
The end of the 2019 saw some unprecedented funding measure pass through Congress and signed into law by President Trump. The Gulf and East Coast have continued to receive significant funding to help deepen and widen navigational channels and gateways. One of the projects passed into law included the Gulf Coast Regional Demonstration Project.
When President Xi Jinping made his first state visit this year to Myanmar and signed new infrastructure contracts, there was no indication of the obstacle about to trip up China's plan for railways, ports and highways around the world: the coronavirus.Travel restrictions to prevent the spread of the disease, which has now killed more than 1,800 people
The Houston Ship Channel reopened on Tuesday morning after a seven-hour closure to raise a fishing vessel that sank in mid-January near the waterway's entrance in the Gulf of Mexico, according to the Houston ship pilots association.The ship channel, a 53-mile waterway connecting the busiest U.S. petrochemical port with the Gulf of Mexico, reopened at 10:15 a.m.
Responders have called off a search for two fisherman missing following a fatal ship collision near Galveston, Texas, the U.S. Coast Guard said on Thursday.One crew member has been rescued, one is deceased and two remain missing at the conclusion of a three-day search involving the Coast Guard and local responders that covered more than 49 square miles by aerial flights
U.S. crude exports from Corpus Christi, Texas, have surged to a record in recent weeks, often surpassing hubs such as Houston and Beaumont, Texas, thanks to faster-than-expected infrastructure additions.The infrastructure boom at Corpus Christi helped push crude exports there to a weekly record of 1.
South Korea shipbuilder Samsung Heavy Industries (SHI) may receive an order from Russia’s largest independent gas producer Novatek for 10 additional ice-breaking LNG carriers worth US$3Bn.A report by Business Korea said Novatek has asked the Russian Government to approve its plan to place an order at an “overseas shipyard”.
Niels Aalund was elected at the 93rd International Convention and Conference in New Orleans on October 17th.New Orleans, LA: Prominent maritime industry stakeholder Niels Aalund has been elected President of the International Propeller Club. Mr. Aalund will serve a two-year term, commencing from October 17th.