The launch of a massive liquefied natural gas (LNG) export project in Canada has finally fired the starting gun on a wave of plan approvals around the world, needed to avoid a supply crunch after 2020.Royal Dutch Shell said it would export LNG from Western Canada by 2025 after approving a $14 billion project, hot on the heels of Qatar's commitment last week to expand its facilities.
The price of shipping liquefied natural gas (LNG) has spiked in September and is likely to remain high next year, buoyed by rising production from new plants and concerns that demand for LNG vessels will outpace supply.The rate for vessels shipping LNG from the Atlantic Basin to Asia has jumped to $90,000 to $95,000 a day this week from $75,000 a day at the end of August, brokers and traders said.
Four U.S. Coast Guard crew members were injured in a collision between two tactical boat crews during training off Falmouth, Mass. Wednesday.The Coast Guard said the injuries were non-life-threatening.Both 29-foot response boat small vessels were damaged when they collided at around 1:30 p.m. in Buzzards Bay. The boats returned to Station Woods Hole under their own power.
Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector.The acquisition signals new optimism for offshore drillers, which were hit hard by the steep plunge in oil prices from 2014.
A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them.The U.S. Gulf of Mexico has faced waning interest in recent years as competition stepped up from other basins globally
Tighter rules on shipping emissions around China's coastlines from the start of next year is a clear sign the world's No. 2 economy will strive for 100 percent compliance when the global sulphur emissions cap starts in 2020, consultants Wood Mackenzie said on Tuesday.On July 9, China's Ministry of Transport announced it would extend its emission control areas (ECAs) to include the country's
The seaborne iron ore market appears to be in something of a sweet spot currently, with largely steady demand and prices that have been flatlining for the past couple of months. Of course, another way of saying that a market is enjoying relatively stable and good times is that it's boring, but in iron ore there is plenty of action bubbling beneath the seemingly calm exterior.
Costs to rise from roughly $100 bln today; just 2 pct of global fleet to have scrubbers in 2020. Global shipping fuel costs are likely to rise by a quarter, or $24 billion, in 2020 when new rules limiting sulphur kick in, consultants Wood Mackenzie said on Wednesday. The ballooning costs will come as the change in regulations forces a portion of the world's fleet to switch to lower sulphur
European Union leaders called on Friday for a temporary exemption from U.S. import duties on steel and aluminium to be made permanent, saying they reserved the right to respond in an "in a proportionate manner" to protect the bloc's interests. The 40-day exemption granted by Washington was like U.S. President Donald Trump "putting a gun to our head", Belgium's prime minister complained.
Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration's efforts to rapidly pump up investment in the region. The Interior Department had offered up a record 77 million acres (31.
Oil major BP Plc expects more than 90 percent of the world's shipping fleet will comply with new regulations slashing sulfur levels ships are allowed to burn starting 2020, a company executive said on Tuesday. Coming International Maritime Organization (IMO) rules will cut the amount of sulfur emissions that ships worldwide are allowed from 3.5 percent to 0.5 percent by 2020.
MMA Launches Third Graduate Degree, M.S. Maritime Business Management. The Massachusetts Maritime Academy has announced the launch of their third Graduate Degree, the Master of Science in Maritime Business Management. The MSMB program MMA developed the MSMB over a four-year period as a campus-wide collaborative effort with the Academic Dean, the Dean of Graduate & Continuing Education