CLEARWATER, Fla. -- A Coast Guard HH-60 "Jayhawk" helicopter on a law enforcement patrol at sunset over Great Inagua Bahamas.  USCG photo by AST3 Tye Conklin

We Won’t Learn Anything: What Sank El Faro and What Didn’t

On Wednesday night, the final rescue crews on the El Faro mission called in, “We are returning to base – negative results,” and left the search area. The hearts of family and friends finished a breaking that began a week ago, and all they are left with now are questions. As unspeakably tragic as the last week has been, I […]

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ZIM Antwerp. Photo: Zim

Israeli Shipping Company Zim May Be Planning U.S. IPO

  By Yaacov Benmeleh (Bloomberg) — Zim Integrated Shipping Services Ltd., a marine transportation company, hired Bank of America Corp.’s Merrill Lynch unit and Barclays Plc to lead an initial public offering in the U.S., according to two people with knowledge of the matter. The Haifa, Israel-based company, a unit of billionaire Idan Ofer’s Kenon […]

Photo provided by Statoil shows the Hilda Knutsen tanker at the Statfjord field. Photo: Statoil

Oil Spill at Statfjord Field Offshore Norway -Statoil

  Norwegian oil major Statoil has reported an oil spilled observed in the North Sea close to a loading buoy at the Statfjord offshore oil field. The oil spill was first reported at 8:30 a.m. Tuesday in the vicinity of the OLS loading buoy. Statoil says that the oil spill was discovered during the loading […]

Photo: Bahri

Saudi Shipping Firm Bahri Sees Huge Profit Jump

  DUBAI, Oct 8 (Reuters) – National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a significant hike in third-quarter net profit on Thursday. The company’s net profit for the three months to Sept. 30 was 510.3 million riyals ($136.1 million), up from 84.85 million riyals in the same period […]

Seadrill Semi-Rig West Pegasus

Seadrill Hopes to See Market Turnaround in 2017

  OSLO, Oct 8 (Reuters) – Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017. Rig rates have more than halved since the peak two to three years ago and in several cases are now below breakeven costs. “2015 is gone, […]