By Paul Burkhardt (Bloomberg) --Total SA has deployed a rig to South Africa to look for more oil near a massive discovery, in a rare example of exploration in a frontier area. The Odfjell Deepsea Stavanger has left Bergen in Norway for the southern tip of Africa, Africa Energy Corp., Total’s partner in the project, said Thursday. While drilling work has dropped off … [Read more...]
Höegh Xiamen Declared a Total Loss After Fire in Jacksonville
The car carrier Höegh Xiamen has been declared a total loss following a fire that broke out onboard last month in Jacksonville, Florida, its owner announced Friday. Norway-based Ocean Yield ASA said it expects to receive insurance proceeds in Q3 2020 of about USD 26 million, which is close to the book value of the vessel. Net cash proceeds after repayment of debt related to … [Read more...]
Bunker Market Facing Tougher Q3 as Supply Rises
By Roslan Khasawneh SINGAPORE, July 3 (Reuters) - Global supply of fuel oil, used by ships and power plants, is expected to grow in the third quarter, depressing the marine fuel market as shipping demand remains weak, analysts and trade sources said. Third-quarter supply is estimated to rise by 620,000 barrels per day (bpd) from the second quarter as China and Brazil … [Read more...]
Djibouti Ramps Up Crew Change Efforts for Seafarers
By Jonathan Saul LONDON, July 3 (Reuters) - Djibouti has carried out the first crew change of merchant sailors in its territory and is ready to get home more seafarers who have been stranded by the coronavirus, a senior port official said. Lying on the Bab al-Mandab strait, which is one of the world's busiest shipping chokepoints, Djibouti is a critical transit hub. More … [Read more...]
Coast Guard, NTSB Investigating Lost Containers in Hawaii
The Coast Guard continues to investigate the loss of 21 shipping containers from the barge Ho Omaka Hou off Hilo, Hawaii. All cargo was successfully removed from the barge over the weekend and it returned to Honolulu Monday, where a further damage assessment is being conducted. Twelve containers of have still not been located. Nine of the initial 21 containers have … [Read more...]