Low Prices Spark Interest in Latest U.S. Gulf Lease Sale

By Nichola Groom March 20 (Reuters) – The Trump administration’s fourth major auction for oil and gas leases in the U.S. Gulf of Mexico received $244 million in high bids on Wednesday, reflecting an uptick in interest from drillers attracted to the region’s low prices. Of the 78.5 million acres (31.77 million hectares) offered, companies […]

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Cargo Owners Still in the Dark on Yantian Express Container Retrieval

By Gavin van Marle (The Loadstar) – Shippers with cargo stranded on the fire-stricken Yantian Express are still in the dark on when or where they might be likely to receive their goods. An update from vessel owner Hapag-Lloyd this week advised customers it would take another fortnight for the discharging and inspections of boxes […]

Britain’s Peel Ports Expands Amid Brexit Trade Uncertainty

By Jonathan Saul LONDON, March 20 (Reuters) – Privately owned Peel Ports is expanding its workforce mostly in Liverpool and plans acquisitions this year, its chief executive said, as Britain prepares its ports to ease any trade disruption caused by Brexit. The British operator has been upgrading much of its network of seven ports, especially […]

Damen Lands First Cruise Ship Construction Contract

Dutch shipbuilding group Damen Shipyards has officially entered the cruise market having signed a contract with Oslo, Norway-based SeaDream Yacht Club for a 155-meter luxury vessel. The so-called Mega Yacht will be purpose-built with ice class Polar Code 6 permitting sailings to polar destinations as well as tropical ones. The order marks Damen’s official entry […]

As U.S. Oil Grows, So Does Its Influence on Global Prices

By Alex Longley and Sheela Tobben (Bloomberg) — For a glimpse into what the global oil price might look like one day, a good place to look is the Dutch port of Rotterdam. There, at a key hub for Europe’s oil trading and refining, crude imported from the U.S. is determining the price for an aspiring benchmark […]

How Iran fuel Oil Exports Beat U.S. Sanctions in Tanker Odyssey to Asia

By Roslan Khasawneh, Ahmed Rasheed and Ahmed Elumami SINGAPORE/BAGHDAD/TRIPOLI, March 20 (Reuters) – At least two tankers have ferried Iranian fuel oil to Asia in recent months despite U.S. sanctions against such shipments, according to a Reuters analysis of ship-tracking data and port information, as well as interviews with brokers and traders. The shipments were […]

Search Suspended for Missing Towboat Captain on Lower Mississippi

The U.S. Coast Guard has suspended its search for the captain of a towing vessel capsized on the lower Mississippi River near Point A La Hache, Louisiana on Monday night.  Coast Guard Sector New Orleans watchstanders received a notification at 8:12 p.m. reporting that the 54-foot inspected towing vessel Seattle Slew had capsized at mile marker […]