Shipping News


Escalated Middle East Conflict Could Hike Oil Price to $150/barrel, Bloomberg Finds

May 07, 2024

So far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according to a new analysis by Bloomberg Intelligence (BI) and Bloomberg Economics (BE).The new study from BI and BE – Middle East Energy Scenarios – looks in detail at four broad scenarios and their potential impact on global GDP and inflation…

McDermott’s Subsidiary Grabs Marsa LNG Job Worth Up To $250M

May 08, 2024

CB&I, a wholly owned subsidiary of McDermott, has been awarded a significant contract by TotalEnergies and OQ joint venture for the engineering, procurement, construction (EPC) of a full containment concrete liquefied natural gas (LNG) storage tank…

TotalEnergies, OQ Reach FID for Marsa LNG Project in Oman

Apr 22, 2024

French energy giant TotalEnergies and Oman National Oil Company (OQ) have reached the final investment decision (FID) on the Marsa LNG project, which will feature an LNG plant completely powered by renewable energy that will produce LNG for use as a marine fuel for maritime transportation…

Cradle-to-Grave LNG Carrier Study Spotlights Crucial Role of Alternative Fuels for GHG Reduction

Feb 01, 2024

Alternative fuels, green steel and renewable energy are fundamental to greenhouse gas (GHG) emissions reduction during the life cycle of a vessel, an industry-first cradle-to-grave study on a newbuild LNG carrier has revealed.Carried out by Lloyd’s Register…

Shell Halts All Red Sea Shipments

Jan 17, 2024

British oil major Shell suspended all shipments through the Red Sea indefinitely after U.S. and U.K. strikes on Yemen's Houthi rebels triggered fears of further escalation, the Wall Street Journal reported, on Tuesday, citing people familiar with the decision…

Qatari LNG Tankers Resume Course Via Red Sea

Jan 16, 2024

Four tankers used for shipments of Qatari liquefied natural gas (LNG) have resumed course after pausing for several days amid maritime attacks by Yemen's Iran-aligned Houthis in the Red Sea, LSEG shiptracking data showed on Tuesday.The Houthi attacks…

Two Shipping Heavyweights Form Strategic Alliance

Jan 15, 2024

Germany’s United Heavy Transport (UHT) and Korea’s Dongbang Transport Logistics have joined forces in a new strategic alliance combining their expertise in heavy lift vessels and transport.UHT and Dongbang Transport Logistics signed a memorandum of understanding (MOU)…

QatarEnergy Stops Red Sea LNG Shipping Due to Attacks

Jan 15, 2024

QatarEnergy, the world's second largest exporter of liquefied natural gas, has stopped sending tankers via the Red Sea although production continues, a senior source with direct knowledge of the matter told Reuters on Monday.Yemen's Iran-backed…

DNV: “The Pace of the Transition is Far from Fast Enough”

Oct 11, 2023

DNV has released the 7th edition of its Energy Transition Outlook highlighting that global energy-related emissions are still climbing and are only likely to peak in 2024. “The pace of the transition is far from fast enough for a net-zero energy system by 2050…

CETO JIP to develop Low Pressure Solutions for CO2 Ship Transport

Dec 29, 2021

Equinor, Shell, TotalEnergies, Gassco and DNV announced the kick-off of a new JIP to develop low-pressure solutions for the transportation of CO2 by ships. The CETO (CO2 Efficient Transport via Ocean) JIP will carry out the technology qualification…

Fugro's Survey Vessel to Run on Methanol as Part of Dutch Push to Lower Emissions in Shipping

Dec 10, 2021

A Fugro-led consortium has secured a grant from Dutch Government’s Netherlands Enterprise Agency for the development of methanol as a low-carbon shipping fuel.The MENENS (Methanol as Energy Step Towards Emission-free Dutch Shipping) consortium has 22 partners…

DOF LIV newbuild starts on Husky contract

Jul 03, 2017

DOF Subsea's newbuild light intervention vessel the Skandi Vinland has started a 10-year contract with Husky Energy of the east coast of Canada. Under the contract, the DOF Subsea team based in St. John's will supply inspection, maintenance and repair (IMR) services over 10 years…

Vallianz closes Singapore yard

Jan 06, 2017

Singaporian vessel operator Vallianz has ended operations at its Singapore shipyard, due to the industry slowdown and discontinuation of business with a key customer, the firm has said. The move was part of an ongoing strategic review…

Unmanned offshore vessel takes shape

Nov 01, 2016

UK firm Automated Ships and Norway’s Kongsberg Maritime have signed a memorandum of understanding to build the world’s first unmanned and fully-automated vessel for offshore operations. In January 2017, Automated Ships will contract the Hrönn…

Havyard inks Esvagt, Hess order

Jun 06, 2016

Norwegian ship designer Havyard has won a contract for the design of a new multipurpose vessel to work for Hess under contract with Esvagt. Havyard will also deliver ship equipment system packages with a total value of more than NOK 100 million…

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