News

Norwegian oil and gas exploration and production service provider Fred. Olsen Energy ASA (FOE.SE) said Wednesday it has decided not to exercise the option for

(Bloomberg) — A glut of the largest oil tankers in the Middle East is poised to fall to the lowest in 22 weeks as crude shipments to refineries across

APM Terminals and its consortium partners announced today their plans to carve out a huge new shipping port and Free Trade Zone from the Nigerian coastline at

Maersk’s movement away from the shipping business continued ahead today with the sale of their entire Handygas tanker fleet to Navigator Gas.

(Bloomberg) — China is using the most supertankers in five months to meet record demand for oil imports, diminishing a glut of shipping capacity and

International Shipholding Corporation (NYSE: ISH) announced last week that in light of current market conditions, it has decided not to proceed with its

The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) announced late last week that BP and Shell were the successful bidders for exploration licenses

(Bloomberg) — Maersk Line, the world’s biggest operator of container ships, expects rates to rise on trans-Pacific routes next month because of an

Prosafe finalized a US$295.2 million contract today with Jurong Shipyard to build the second unit of a new generation harsh-environment accommodation

GRAND ISLE, La.–Divers searching the Gulf of Mexico for two workers missing after an explosion on an oil platform recovered the body of one Saturday

Denmark’s AP Moller-Maersk (MAERSK-A.KO, MAERSK-B.KO) will shift the focus of its business activity from shipping, choosing instead to concentrate on its

Sometimes things don’t happen according to plan, and when you’re operating a big ship in a narrow channel such as the Panama Canal, a ship’s

After 13 years with Teekay (NYSE:TK), Graham Westgarth, Teekay’s EVP for Innovation, Technology and Projects, has announced his intentions to resign

(Bloomberg) — Transocean Ltd., the world’s largest offshore rig contractor, won an appeals court ruling that reinstates a $15 million jury verdict

Norwegian offshore engineer Dof ASA (DOF.OS) said Friday it has secured multiple contract awards in Asia Pacific, the Mediterranean and in the Gulf of Mexico

(Bloomberg) — Overseas Shipholding Group Inc., the largest U.S. tanker operator, filed for bankruptcy protection after global shipping rates fell and the

Coral Princess Cruises has been fined $180,000 following the death of a crewman after he was trapped by a powered door while working on the cruise ship

As the shipping industry endeavours to conserve expensive fossil fuels, cargo ship designers are now turning to the oldest source of power there is: the wind

R. Keith Michel, Chairman of the Board of the Herbert Engineering Group of Companies, has been appointed President of Webb Institute, the country’s

PRESS RELEASE — Shipham Valves, a subsidiary of Wärtsilä, has completed the development programme for a new range of composite single plate wafer