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Cargo Ship Operating Costs Expected to Rise

The cost of operating cargo ships is forecast to rise over the next two years after falling in 2015, according to the latest Ship Operating Costs Annual Review and Forecast report published by U.K. – based shipping consultancy Drewry. The av...

17/11/2015 Read

Two product tankers collide in the Arctic

Two product tankers have reportedly collided in ice in the Laptev Sea, north of Russia, while proceeding in an ice convoy through the Northern Sea Route on Thursday at around 22:34hrs (Moscow time). The two small clean product tankers are Svy...

17/11/2015 Read

Norwegian investment banks touting oil rigs at fire sale prices

Pareto Securities AS is among banks targeting debt funds and private-equity firms to buy oil rigs at fire sale prices to hold until demand for offshore-drilling rebounds, according to people familiar with the matter. Norwegian investment banks are...

16/11/2015 Read

Laid up vessels in North sea – near one hundred

The number of offshore vessels laid-up in the North Sea now stands at 93, according to data by Westshore Shipbrokers. According to the firm, there are currently 93 total vessels laid up at ports in the UK and Norway. The list is comprised of 26 an...

16/11/2015 Read

Petronas’ profit plunges 91 percent

Malaysian oil and gas company Petronas reported a fall in its third quarter profit after tax to 319.5 million, impacted by the prolonged low oil price and the global supply glut. For comparison, the company’s profit in the corresponding peri...

13/11/2015 Read

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