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New York and Copenhagen-listed offshore rig owner Noble Corporation has secured more work with BP for its 2003-built jackup rig Noble Innovator. The UK supermajor has exercised an option to add one well to the work scope of the ultra-harsh environment unit operating in the UK sector of the North Sea. The contract extension kicks …
https://splash247.com/noble-gets-extension-for-uk-jackup/
https://splash247.com/noble-gets-extension-for-uk-jackup/Singapore maritime conglomerate BW Group is separating its offshore oil and gas company BW Energy from its shipping businesses as part of a corporate restructuring. The Andreas Sohmen-Pao-led Group owns nearly 75% of BW Energy following a mandatory offer to purchase shares from its FPSO specialist BW Offshore. The spinoff will not involve any change …
https://splash247.com/sohmen-pao-to-spin-off-oil-and-gas-business/
https://splash247.com/sohmen-pao-to-spin-off-oil-and-gas-business/In dry, the capesize market stands out with a string of transactions, with vintage capes being the primary target for buyers of secondhand bulker tonnage. Prices are firming as rates are again on the rise. Five capes between 15 and 20 years of age were sold in the last 10 days. Last week saw OceanPal, …
https://splash247.com/vintage-capes-find-new-owners/
https://splash247.com/vintage-capes-find-new-owners/A 1979-built livestock carrier has entered the Mediterranean, cruising aimlessly around southern Europe, awaiting new orders having been barred from entering Ireland. The Sarah M was due to arrive at Greenore port on Ireland’s northeast coast on April 30 to collect cattle for export. However, the ship had recently been classed with the Russian Maritime …
https://splash247.com/45-year-old-livestock-carrier-barred-from-entering-ireland/
https://splash247.com/45-year-old-livestock-carrier-barred-from-entering-ireland/The International Transport Workers Federation (the ITF) continues to identify shocking cases of crew mistreatment, wage theft, and deplorable conditions aboard ships operating in Australian waters, with the latest example in Mackay Harbour involving the Eleen Sofia, run by Ellen Marine from Bulgaria. The 2008-built supramax is currently under arrest by the Australian Border Force …
https://splash247.com/itf-highlights-bulgarian-ship-of-shame/
https://splash247.com/itf-highlights-bulgarian-ship-of-shame/A new report by analysts at influential Danish Ship Finance will make for uneasy reading for shipowners and shipbuilders alike, suggesting that seaborne trades will decline through to 2050 and the age-old correlation with global GDP growth is increasingly redundant. “Throughout history, seaborne trade volumes have increased in parallel with global economic growth. This long-standing …
As metaphors go to highlight today’s tortuous trading environment, the fact that the Economic and Commodities Outlook session kicked off Friday’s Geneva Dry conference with an empty seat on stage was rather apt – Shamika Sirimanne, director of the UN Trade and Development’s division on technology and logistics, was snarled up in traffic just outside …
https://splash247.com/the-economic-and-commodities-outlook-from-geneva/
https://splash247.com/the-economic-and-commodities-outlook-from-geneva/Floods that have killed at least 85 people in Brazil’s Rio Grande do Sul have completely halted operations in three ports as well as put a stop to nearly all logistical operations in the state. According to the Civil Defense of Rio Grande do Sul, over 130 others are still missing over 19,000 people have …
https://splash247.com/massive-floods-cause-chaos-in-southern-brazil/
https://splash247.com/massive-floods-cause-chaos-in-southern-brazil/To unwind the shadow fleet of tankers too quickly could cause a severe global economic shock, a new report has warned. The grey tanker fleet – as tracked by brokers BRS – has grown in size by 17% this year to number 787 units, equivalent to 8.5% of total tanker capacity. With more large ships …
Negotiations for the development of Tanzania's $42 billion liquefied natural gas export plant have been delayed by proposed government changes to a financial agreement reached last year, a government spokesperson and two company sources said.The…
https://www.marinelink.com/news/tanzanian-lng-project-delayed-government-513493
https://www.marinelink.com/news/tanzanian-lng-project-delayed-government-513493