LPG Tanker ‘Navigator Aries’ Damaged in Collision with Containership in Indonesia

navigator aries collision damage

  A Navigator Gas LPG tanker was badly damaged in a collision Monday with a containership in Indonesia's Java Sea. Photos show the Indonesian-flagged LPG carrier Navigator Aries with a large hole in its port side after the vessel collided with the Panama-flagged MV Leo Perdana. The incident occurred early Monday off Gresik in Indonesia's East Java Province shortly … [Read more...]

Petrobras Cuts 5-Year Spending by $91 Billion

Petrobras 1000 drillship

RIO DE JANEIRO, June 29 (Reuters) - Brazil's state-run oil company Petrobras slashed its long-term spending plan to the lowest level in eight years on Monday as new management moved to reduce the industry's largest debt burden and pull the company out of a giant corruption scandal. Petroleo Brasileiro SA, as the company is formally known, will invest $130.3 billion in the … [Read more...]

Baltic Exchange Futures Platform Considering Move Into Commodities

File photo (c) Shutterstock/Lukasz Z

By Jonathan Saul LONDON, June 29 (Reuters) - London's Baltic Exchange is studying a potential foray into commodities and is open to proposals on tie-ups as other exchanges attempt to boost volumes, its chief executive said. Baltex, the Baltic's digital shipping platform, was launched in 2011 as the first central electronic marketplace for freight forward agreements … [Read more...]

Cruise Ship and Tanker Collide in Turkey’s Dardanelles Strait

7x

A Celestyal cruise ship was involved in a collision with a tanker carrying flammable naphtha early Saturday morning in the Dardanelles strait near Gallipoli, Turkey. Celestyal Cruises reports that its ship, the Maltese flagged MV Celestyal Crystal, collided with the Marshall Islands-flagged MT STI Pimlico at about 1:28 a.m. local time on Saturday. The cruise line reports … [Read more...]

Panama Canal Eyeing LNG Import Terminal

Test of the new locks began this week on the Atlantic side of the canal. Photo: ACP

  The U.S. Trade and Development Agency on Friday awarded a grant to the Panama Canal Authority (ACP) to support the planning of a liquefied natural gas (LNG) import terminal that would help the ACP capitalize on the growth of LNG tanker traffic through the expanded Panama Canal. “The U.S. Government is very pleased to partner with the Panama Canal Authority through … [Read more...]

Illinois Captain Sentenced to Six Months in Prison for 2005 Barge Explosion

The EMC 423 Barge Post Explosion. Photo: U.S. Coast Guard

By Mary Wisniewski CHICAGO, June 26 (Reuters) - An Illinois man who was captain of a petroleum barge that exploded in a Chicago canal in 2005, killing a crew member, was sentenced to six months in prison on Friday, prosecutors said. Dennis Egan, 36, of Topeka in central Illinois, and the barge owner, Egan Marine Corp. of Lemont, were each convicted in June 2014 of … [Read more...]

NASSCO Cuts Steel on Second LNG-Ready Product Tanker for SEA-Vista

An illustration of DSEC's ECO tanker design. Image credit: General Dynamics NASSCO

  General Dynamics NASSCO signaled the start of construction for the second of three 50,000 deadweight ton, 330,000 barrel cargo capacity product tankers for SEA-Vista Newbuild III LLC, a subsidiary of SEACOR Holding Inc. All three of the LNG-conversion ready product tankers will be constructed at the NASSCO shipyard in San Diego under Jones Act … [Read more...]