Seadrill Hopes to See Market Turnaround in 2017

Seadrill Semi-Rig West Pegasus

  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, 2016 is ugly but what we see is that some oil companies are … [Read more...]

President Obama Statement on El Faro Tragedy

El Faro seen laid up in 2010. Photo: Allen Baker

  Below is a statement provided by the Office of the Press Secretary on behalf of President Obama: The captain and crew of the El Faro were Americans and Poles, men and women, experienced mariners and young seamen. They were beloved sons and daughters and loving husbands and fathers. They were dedicated engineers, technicians and a cook. And these 33 sailors were … [Read more...]

White House Issues Veto Threat for Bill to Lift Crude Exports Ban

Photo: Shutterstock/Igor Karasi

WASHINGTON (Reuters) - The White House issued a veto threat on Wednesday for a U.S. House of Representatives bill that would lift a four-decade-old ban on crude oil exports, saying the legislation was "not needed at this time." Congress should instead end "the billions of dollars a year in federal subsidies provided to oil companies" and invest in wind, solar and other … [Read more...]

Coast Guard Ends Search for El Faro Survivors

The El Faro is shown in this undated handout photo provided by Tote Maritime in Jacksonville, Florida, October 2, 2015. Reuters/Tote Maritime

  The U.S. Coast Guard has ended it search for possible survivors from the American cargo ship El Faro, which is believed to have sank Thursday with the loss of all 33 crew members. The announcement comes after an exhaustive 6-day search for survivors covering more than 183,000 square nautical miles. The search was officially suspended Wednesday night at … [Read more...]

As Search for El Faro Crew Ends, Focus Shifts to Investigation

Vice Chairman T. Bella Dinh-Zarr briefs the media on the NTSB investigation of the El Faro accident. Photo: NTSB

  By Susan Cooper Eastman JACKSONVILLE, Fla., Oct 7 (Reuters) - The U.S. Coast Guard on Wednesday ended its search for missing crew of the cargo ship El Faro that sank off the Bahamas last week after sailing into the path of Hurricane Joaquin. An exhaustive air and sea search for possible survivors was called off at sunset, six days after communication was lost … [Read more...]

Ship Photos of the Day – Port of Long Beach Annual Photo Contest Winners


The Port of Long Beach has announced the winners of its third annual community photo contest. The unique program, on exhibit at the Museum of Latin American Art, showcases work by nearly 80 professional and amateur photographers who captured images at the second-busiest port in the nation. This year’s program also featured the work of ten Long Beach high school students. The … [Read more...]

Blowtorch Beach, Turkey: Where Old Offshore Oil Rigs Go to Die

Photo: Shutterstock/curraheeshutter

  By Firat Kayakiran, Naomi Christie and Angelina Rascouet (Bloomberg) -- When offshore oil rigs reach the end of their useful lives, many head for their final resting place at blowtorch beach. There, in western Turkey, ship scrapyards have discovered a new source of income amid the plunge in oil prices over the past 16 months -- tearing apart unwanted drilling … [Read more...]