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State-owned National Iranian Oil Company raised the official selling price differentials for all of its crude oil grades loading in June and headed to Asia by 35-65 cents/b from May, a company source told S&P Global Platts Monday. The June Iranian Light OSP differential is now at a premium of $1.65/b to the average of Platts Oman and Dubai crude assessments for June, the highest since August 2018 when it was at a premium of $2/b to Oman/Dubai. The June Iranian Heavy OSP differential is at a premium of 15 ...

GasLog Ltd., an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, announced today that it plans to offer an additional $75.0 million aggregate principal amount of its 8.875% Senior Notes due 2022 (the “Notes”) in a public offering under its effective shelf registration statement. The Notes will be an issuance of further notes of the same series under the indenture pursuant to which the Company previously issued $250.0 million aggregate principal amount of the Company’s 8.875% Senior Notes due 2022. The Company plans to use the net ...

IMO’s key environment protection meeting has opened for its 74th session (13-17 May). The reduction of greenhouse gas emissions from ships is a key agenda item, following up on the initial IMO strategy on reduction of GHG emissions from ships. A working group is expected to be established, continuing the work of an intersessional meeting which met last week (7-10) May. The fourth IMO GHG study is expected to be initiated, the procedure for assessing the impact on States of new measures will be considered and possible short-term measures will ...

The Synergy Group’s commitment to safety at sea, seafarer welfare and female empowerment in the maritime workforce were recognised at the 2019 Seatrade Awards, hosted last week at London’s magnificent Guildhall. The Singapore-based shipmanager won the prestigious 2019 Seatrade Award for Investment in People. The award identifies “a significant contribution to the recruitment, training, retention and advancement of the industry’s most valuable asset – its people”. Captain Rajesh Unni, CEO and Founder of Synergy Group, thanked Seatrade judges for recognising that the training, development and encouragement of all personnel were ...

The CMA CGM Group, a world leader in shipping and logistics, is pleased to announce the launch on May 13th of its new short sea service: ADRINAF. The first direct service between the Adriatic Sea and Algeria With this weekly service, the Group is offering the first direct connection between the Adriatic Sea and Algeria. It thus opens up new development opportunities for its customers located in Central and Eastern Europe thanks to rail and road intermodal solutions, mainly via Koper. It also allows connections to the rest of the ...

Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates and described it as an attempt to undermine the security of crude supplies amid tensions between the United States and Iran. The UAE said on Sunday that four commercial vessels were sabotaged near Fujairah emirate, one of the world’s largest bunkering hubs lying just outside the Strait of Hormuz. It did not describe the nature of the attack or say who was behind it. The UAE had ...

The hull of a Norwegian-registered product tanker was damaged by an unknown object off the cost of the United Arab Emirates port of Fujairah on Sunday, ship management company Thome Ship Management said on Monday. “The master of MT Andrea Victory reported the crew were unharmed but there was a hole in the hull area of the aft peak tank. The ship is not in any danger of sinking,” Thome said in a statement. The vessel is 47,210 deadweight tonnes, according to Refinitiv data. Source: Reuters (Reporting by Oslo newsroom, ...

KVH Industries, Inc., (Nasdaq: KVHI), today announced that it has sold its maritime training business, the Videotel group of companies, to an affiliate of Oakley Capital for a base purchase price of $90 million, on a cash-free, debt-free basis, subject to working capital adjustments. The sale was completed immediately upon execution of definitive agreements. “As part of our long-term strategic roadmap, we are focusing on the large and growing markets of our core mobile connectivity and inertial navigation businesses,” says Martin Kits van Heyningen, chief executive officer of KVH. “We ...

A United Nations climate change panel updated on Monday guidelines for governments to estimate greenhouse gas emissions so the most up-to-date scientific research is included. Under the 2015 Paris Agreement, governments use common methodologies to measure how many greenhouse emissions they have produced and how many have been removed from the atmosphere. The Intergovernmental Panel on Climate Change (IPCC) said the new 2019 guidelines built on 2006 methodologies by updating gaps and out-of-date science. They include new technologies and emissions sources across the energy, industrial processes, waste, agriculture and forestry ...

Alfa Laval will make a strong showing at this year’s Nor-Shipping, Northern Europe’s leading international forum for maritime industry. While diverse equipment, knowledge and services will be on display, the stand will have a single focus: partnership with customers to secure lifetime vessel performance. Having entered its second century of marine service, Alfa Laval offers ship owners, ship operators and shipyards a unique breadth of equipment solutions and insights. With innovation built on deep understanding, the company is helping customers achieve reliability, compliance and efficiency – throughout the vessel and ...

Croatia’s ailing shipyard in the northern Adriatic city of Pula was placed into bankruptcy by a commercial court on Monday after an almost year-long effort to keep it afloat. The shipyard belongs to Uljanik, Croatia’s largest shipbuilding group, which also owns another troubled dock in the northern Adriatic city of Rijeka. A decision on the shipyard in Rijeka is scheduled for June 5. The Pula shipyard has an outstanding debt of 164.8 million kuna ($25 million). Local media reported that it has 1,118 workers left who will now lose their ...

Ships are moving inbound on Monday morning along the Houston Ship Channel after a Friday collision between a barge and deep-draft ship that spilled petrochemicals into the waterway closed ship traffic in both directions, the U.S. Coast Guard said. The Coast Guard did not have immediately available the number of vessels waiting to enter and exit the Channel on Monday morning. Ships started moving outbound on Sunday. Barges along the channel can move into both directions, the Coast Guard said. One barge was severely damaged and another capsized following a ...

GT USA Wilmington, the US arm of Gulftainer, the world’s largest, privately owned, independent ports and logistics company, has taken delivery of three fully electric and eco-friendly 45-ton reach stackers from KoneCranes Inc. This delivery is part of a larger order, which includes nine 41-ton Rubber Tired Gantry (RTG) cranes, and is part of the $500 plus million investment into the Port of Wilmington and a new container terminal development at Edgemoor. Eric Casey, CEO of GT USA Wilmington, said: “The introduction of this equipment will support the efficiency, overall ...

Indian sugar mills have contracted to export 3 million tonnes of sugar since the current marketing season began on Oct. 1, a leading trade body said on Monday. Mills have already shipped out 2.1 million tonnes of the sweetener, Praful Vithalani, president of the All India Sugar Trade Association, told Reuters. Mills have exported almost an equal amount of raw and white sugar for which the top four destinations are Bangladesh, Iran, Sri Lanka and Somalia, Vithalani said. Prime Minister Narendra Modi’s cabinet late last year approved incentives to encourage ...

Amidst the excitement surrounding recent advancements in the ultra-deepwater market, it’s easy to forget the offshore industry’s humble beginnings; a simple pier off the coast of California in 1897. In fact, until 1970, $150 billion (real dollars) worth of offshore projects were developed in 25 meters of water depth or less, accounting for 65% of the market. As exploration pushed farther from shore, deepwater offshore field development began to grow in the 1980s with the proliferation of advancing deepwater technology, such as semisubmersible drilling rigs, subsea trees, and floating production, ...