The best cure for high prices is high prices, as the old adage goes. Unfortunately, this offers scant consolation to gas consumers in Europe facing higher heating and electricity bills this winter. And it is not just in Europe where consumers are feeling the pain. In Asia, too, spot LNG prices hit a record US$56 […]
Kotug Australia and Westug have successfully concluded an agreement wherein Kotug will take over all towage services on behalf of Pilbara Marine, the Port Hedland-based subsidiary of Fortescue Metals Group. The service includes the operation of nine tugs that have been servicing Fortescue and other port users since the commencement of operations at Port Hedland […]
Western Australia-based mining and metals company South32 has placed an order for a new ASD tug from Damen Shipyards Group. The 23-metre, 70-tonne bollard pull tug is available in stock and will be delivered in the coming weeks from Damen Song Cam Shipyard in Vietnam. Though a standard Damen design, it is being fitted out […]
Last week saw a legal ruling against Royal Dutch Shell in the district court in The Hague regarding the company’s efforts to reduce its carbon emissions. Shell must reduce its carbon emissions by nearly half by 2030, the judge ruled. Donald Pols, director of Friends of the Earth Netherlands, described the judgement as “a monumental […]
Charles Dickens offered only A Tale of Two Cities. This week, I offer a tale of no less than six restructurings, as the crisis in the offshore sector comes to a head. One seismic player heads for liquidation. Another is reinventing itself as a subsea mining and minerals play to, allegedly, power the green economy. […]
Shanghai Waigaoqiao Shipbuilding (SWS) recently held a steel-cutting ceremony to mark the start of construction of a new 250,000DWT bulk carrier ordered by Chinese owner ICBC Leasing. The vessel will be the second in a series that SWS is building for ICBC. It will have an LOA of 299.88 metres, a beam of 50 metres, […]
Well, that came out of left field. When we last looked (here), the warm-stacked, deep-water drillship Vitoria 10000 had been reduced to clear by Petrobras in a second auction in October, following the failure of the first process to sell the rig, when nobody offered the reserve price. We speculated that maybe the 2010-built unit […]
An official naming and delivery ceremony was recently held for a new 3D geophysical survey vessel ordered by Nippon Yusen Kaisha (NYK), the company said in a statement dated October 30. The 102- by 40-metre Tansa will be operated by Ocean Geo-Frontier, a company jointly owned by NYK, Hitachi, and PGS. The vessel will be […]
East Perth-based iron ore company Fortescue Metals Group has inaugurated its newest tugs into service.
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