Friday, September 25, 2015

Viking Supply Ships Latest to Announce PSV Lay-Ups

  Swedish shipowner Viking Supply Ships says that due to the continued market the company is forced to lay up three platform supply vessels. The vessels impacted are Idun Viking,...

September 25, 2015
Total Views: 6

Friday, September 4, 2015

Drillship Built as CIA Spy Ship to Raise Soviet Sub Falls Victim to Oil Crash

  By John Miller ZURICH, Sept 3 (Reuters) – A ship built by the CIA for a secret Cold War mission in 1974 to raise a sunken Soviet sub is...

September 4, 2015
Total Views: 50

Tuesday, September 1, 2015
Maritime News

World’s Top Oil Trader Sees $40-$60 a Barrel in 2016

  By Javier Blas and Will Kennedy (Bloomberg) — Oil prices will remain at $40 to $60 a barrel into 2016 as rising crude supplies overwhelm demand, according to the...

September 1, 2015
Total Views: 0

Tuesday, August 25, 2015

Middle East Brings Solace to Oil Services Companies

  By Angelina Rascouet and Manisha Jha (Bloomberg) — Demand for oil services is rising in the Middle East even as the rout in crude prices forces major producers to...

August 25, 2015
Total Views: 4

Thursday, August 20, 2015

Oil’s Plunge Takes Toll on Norwegian Economy

  By Saleha Mohsin (Bloomberg) — Norway’s economic growth slowed in the second quarter as plunging crude prices sap investments and drive up unemployment in western Europe’s biggest petroleum producer....

August 20, 2015
Total Views: 1

Monday, August 17, 2015
Maritime News

Oil Just Fell to Its Six-Year Low

  By Mark Shenk (Bloomberg) — Oil closed at the lowest level in more than six years in New York amid speculation that demand may slip as economies slow, and...

August 17, 2015
Total Views: 0

Wednesday, July 1, 2015
Maritime News

Statoil Suspends Another Rig Contract

Norwegian oil major Statoil has decided to suspend its contract for the semi-submersible drilling Scarabeo 5 due to overcapacity in its rig portfolio.  The suspension will take effect once Scarabeo...

July 1, 2015
Total Views: 1

Wednesday, June 17, 2015
Maritime News

Bunker Price Slump Set to Deepen

Marine fuel prices are set to fall further after plunging to their lowest since late 2013, with traders in Singapore, the world's largest ship refueling hub, saying they are looking to sell quickly in the face of a global supply glut.

June 17, 2015
Total Views: 0

Tuesday, June 16, 2015

Petrobras Postpones Deep Spending Cuts

Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry.

June 16, 2015
Total Views: 0

Thursday, June 11, 2015
Maritime News

Survey Paints Bleak Picture for North Sea Oil and Gas Industry

  Two-thirds of North Sea oil and gas industry operators (67 percent) have been forced to cancel projects because of the recent fall in oil price, according to an industry...

June 11, 2015
Total Views: 0

Thursday, June 4, 2015
Oil tankers In Rio

Unwinding “Sea Storage” Tankers Feeds Bloated Oil Market

ByJonathan Saul and Libby George, LONDON, (Reuters) – Physical oil is coming under pressure as trade houses unwind a profitable storage play after several months that saw them holding millions of barrels...

June 4, 2015
Total Views: 5

Tuesday, June 2, 2015

What’s OPEC Going to Do With Iran’s Million Barrels a Day?

by Anthony Dipaola & Grant Smith (Bloomberg) Just when it looked like OPEC was winning the war with U.S. shale-oil drillers, a new front is opening up within its own...

June 2, 2015
Total Views: 0

Monday, June 1, 2015

Homeless Atlantic Oil Tankers Deepen Global Glut

* Millions of stranded barrels underscore glut * WAF, North Sea differentials hit multi-year lows * Elevated freight rates complicate search for buyers By Libby George and Claire Milhench, LONDON,...

June 1, 2015
Total Views: 10

Maritime News

Iraq Begins Heavy Oil Exports After Complaints About Quality

[contextly_sidebar id=”tKIDRGk6JyJchPjTJbnQHPKSp8GOZ4k4″]by Khalid Al AnsaryAnthony Dipaola (Bloomberg) Iraq, OPEC’s second-biggest oil producer, is set to increase exports after starting a new grade of crude to quell customer complaints about the...

June 1, 2015
Total Views: 1

Sunday, May 31, 2015

Rare run of oil finds offers little respite offshore

(Reuters) Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit, but they offer little respite to a sector...

May 31, 2015
Total Views: 3

Wednesday, May 20, 2015

Maersk to Lay Up Two More Anchor Handlers

Maersk Supply Service has confirmed that it is laying up two more anchor handlers in response to the abysmal offshore oil and gas market. The two vessels to be laid...

May 20, 2015
Total Views: 17

Monday, May 18, 2015
MT 30 engine rolls royce

Rolls-Royce to Cut Marine Unit Jobs

Rolls-Royce Group Plc, which is already eliminating about 2,600 positions globally, said it will cut an additional 600 jobs at its marine unit that’s suffering from a slump in oil prices.

May 18, 2015
Total Views: 0

Tuesday, May 12, 2015

Subsea 7 Announces Major Cuts to Global Workforce, Fleet

Subsea 7 says that the cuts will reduce its global workforce by approximately 2,500 jobs by early 2016, down from the 13,000 worldwide employees reported at the end of 2014.

May 12, 2015
Total Views: 9

Tuesday, May 5, 2015

Crude Collapse – Diamond Offshore to Scrap Three Rigs

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, said it was scrapping three rigs in the face of weak demand due to a steep fall in global crude prices.

May 5, 2015
Total Views: 48

Tuesday, April 21, 2015
Maritime News

Cheaper Fuel to Boost Container Shipping – View

Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel tumbles.

April 21, 2015
Total Views: 2