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AET Secures DP2 Shuttle Tankers with Petrobras

Photo:  AET Tankers Pte Ltd

 Petroleum tanker owner and operator AET announced the extension of partnership in the DP2 shuttle tanker sector with Petróleo Brasileiro S.A.(Petrobras), the Brazilian multinational petroleum corporation.   "Recently we were awarded a contract to own and operate four specialist DP2 Suezmax Shuttle Tankers on long-term charter by Petrobras.

Maersk Line Introduces Bunker Surcharge

File Image: CREDIT Maersk

The world's largest container shipping company Maersk Line is increasing prices because of a surge in the cost of bunker fuel.   The shipping fuel has become increasingly costly as global crude oil prices have returned to peaks not reached since 2014, lifted by the United States' exit this month from

Total, Novatek Pact for Arctic LNG 2 Project

Image: Total

 In the presence of the President of the Russian Federation, Vladimir Putin, and the President of the French Republic, Emmanuel Macron, Total has signed an agreement with Novatek outlining the terms upon which Total shall acquire a direct working interest of 10% in Arctic LNG 2, a giant liquefied natural

Corvus Bags Five Battery Powered Ferries Contract

Photo: Corvus Energy

Corvus Energy was selected by Norwegian Electric System (NES) to supply lithium ion battery-based energy storage systems (ESS) for two new all-electric ferries being built by Havyard for Norwegian ferry operator Fjord1.  The ferries will operate on the Magerholm-Sykkylven route. This follows a previous

Electric Ferries on Rise: DNV GL

 The environmental ambitions of the politicians in Hordaland were very high when it came to cutting emissions from ferry operations. A tender for new ferries, supported by DNV GL, resulted in a record investment of 140 million euros in zero-emission technology.   When ferries pass the stunning scenery

UN Seeks Traders' Help Enforcing North Korea Sanctions

© Nobilior / Adobe Stock

A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said.The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.

Valero Boosts Imports of Venezuelan Oil as Sanctions Loom

© sarojmornparn / Adobe Stock

U.S. refiner Valero Energy Corp this year boosted its imports of Venezuelan crude ahead of U.S. sanctions over the country's disputed presidential election and as other customers received less of the OPEC-member's exports, according to Thomson Reuters trade flows data.Venezuelan oil production has tumbled to a multi-decade low this year,

Gunvor, Oceangold and Maas Capital Form Tanker JV

© Anatoly Menzhiliy / Adobe Stock

A new ship holding company has been formed through a joint venture agreement between physical energy trader Gunvor Group, ship management company Oceangold Tankers and investor Maas Capital.The three partners hold an equal share in the new company, ClearOcean Tankers, which has been incorporated in Cyprus.

Russia's First Sea-borne Nuclear Power Plant Arrives in Arctic

Akademik Lomonosov (Photo: Rosatom)

Russia's first-floating nuclear power plant arrived in the Arctic port of Murmansk over the weekend in preparation for its maiden mission, providing electricity to an isolated Russian town across the Bering Strait from Alaska.The state company behind the plant, called the "Akademik Lomonosov", says

Tokyo Gas Takes First LNG Cargo from Cove Point

© Dexter / MarineTraffic.com

Japan received its first shipment of liquefied natural gas (LNG) on Monday from Dominion Energy Inc's newly completed Cove Point export plant, the beginning of a jump in imports from the United States by the world's biggest buyer of the fuel.The docking of the tanker LNG Sakura at Tokyo Gas Co's Negishi

Oil Up as U.S., China hit the Trade War Pause Button

Oil prices rose on Monday as markets reacted to news that China and the United States have put a looming trade war between the world's two biggest economies "on hold". Brent crude futures were at $79.13 per barrel at 0121 GMT, up 62 cents, or 0.8 percent, from their last close. Brent broke through

DeepOcean Wins Equinor Susbsea Deal

Photo: DeepOcean Group Holding BV

 Subsea services provider DeepOcean has been awarded a long-term contract involving subsea life of field services on Equinor-operated fields.   The award covers onshore project management, engineering and offshore operations utilising a variety of vessels within the DeepOcean fleet of high quality vessels.

Awilco Drilling Signs Contract With Shell

Photo: Awilco Drilling

 Aberdeen-based Awilco Drilling said today that it had tied up a contract with Shell UK for the decommissioning of 18 wells.   "Awilco Drilling PLC is pleased to confirm that a contract has been signed with Shell UK Limited for the provision of WilPhoenix for a decommissioning program of 18 firm wells plus options totalling a further 8 wells,

Novatek Plans New Arctic Transport Company

Photo: PAO Novatek

 Russia's gas production and sales company PAO Novatek has created a transportation unit called Maritime Arctic Transport.   "The Board of Directors of PAO Novatek  resolved on creating a transportation subsidiary called Maritime Arctic Transport LLC to manage and optimize transportation costs, build

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