Devon Energy mulls Horn River JV-CEO

Devon Energy Corp DVN.N is contemplating a joint venture deal for its shale gas assets in British Columbia, the company's chief executive said on Sunday.
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Source: YTWHW

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Sinopec 2010 Net Profit Up 12.8%

China Petroleum and Chemical Corporation (Sinopec) recorded a 12.8 percent year-on-year rise in 2010 net profit attributable to shareholders to 70.71 billion yuan, with basic earnings per share of 0.82 yuan, reports Shanghai Securities News, citing a company filing.
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Source: Capital Vue

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Shanghai – Europe box rates slide below $1,000 per teu

Spot rates for shipping containers from Shanghai to Europe have dropped below $1,000 per twenty-foot unit for the first time since March 2009 due to low volumes and fierce competition, shipping body BIMCO said last Friday.
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Source: Seatrade Aisa

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China rejects MOL ship citing ‘abnormal’ amounts of radiation

A ship that had “abnormal” amounts of radiation after passing 67 nautical miles (124 kilometers) off Japan’s Fukushima prefecture, site of a crippled nuclear-power station, is heading back to the country after being rejected by authorities in China.
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Source: Seatrade Aisa

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Russia: Rosneft Not Giving Up On BP Deam

Russian oil major Rosneft said on Friday it would push ahead with its plans to form a strategic alliance with BP, despite an arbitration court ruling putting the deal on hold.
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Source: Offshore Energy Today

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Shipbuilders plan GTL-FPSO

Amid skyrocketing oil prices, Korea's shipbuilders are plunging into the GTL (GAS-To-Liquid) business.
GTL is technology that switches natural gas to high quality, clean-burning oil products or chemicals such as diesel or jet fuel at lower costs.
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Source: Asiasis

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New orders made weak start

Newbuilding ordering activity made weak start to 2011 as orders in the first two months were falling while Chinese and Greek shipowners are keeping their wallets tightly closed.
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Source: Asiasis

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Chinese seek to sell supramaxes

A number of Chinese shipyards have taken to the road to entice foreign shipowners to take on cancelled vessels or ships being built by the yard on speculation.
The aggressive marketing drive marks a shift from the previous strategy, which largely involved yards relying on a network of brokers both in China and abroad.
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Source: Asiasis

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S&M yards in China may go broke

While China's shipping industry has grown dramatically on back of low cost and its network to run in all directions, the shipbuilding industry has shared the growth as the biggest beneficiary from the increasing shipping market.
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Source: Asiasis

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Full speed ahead - Green Ship of the Future

Almost three years after setting sail towards more environmentally friendly and energy-efficient shipping, the Danish maritime industry initiative called Green Ship of the Future is still producing results. Today, products and results from Green Ship of the Future are implemented on more than 100 ships.
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Source: Skips-revyen

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Nordea Bank Seizes Korea Line Singapore Vessels to Recoup Debt

Nordea Bank AB (NDA)’s Singapore unit seized two vessels from Korea Line Corp. (005880)’s local subsidiary in a bid to recoup $64.9 million in debt.
Nordea Bank arrested the Blue Diamond ship yesterday and the Blue Coral earlier this month, the bank’s lawyer Corina Song of Allen & Gledhill LLP, said by phone today. The ships were pledged as collateral for an $82 million loan in October 2006, the bank said in a March 17 lawsuit with the Singapore High Court.
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Source: Bloomberg

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Baltic sea index rises, cargo business sluggish

The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, rose on Friday, although slow activity was expected to weigh on vessel earnings in the coming days.
The index rose by 0.13 percent or 2 points to 1,585 points, in a fourth day of gains.
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Source: Reuters

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Shipping’s dilemma as sulphur rules tighten

Despite ship operators’ slow uptake of exhaust scrubbers in the face of growing sulphur, carbon and nitrogen emission limits, some are predicting a big role for the technology in coming years.
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Source: carbonpositive

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Maersk building on future of global trade

Maersk recently took the spotlight of the world of global container trade, with its mammoth order for 10 vessels, code-named Triple E, able to carry 18,000 TEUs each for a price tag of $5.4 billion (including 20 more ships as option), to be built by Daewoo Shipping & Marine Engineering.
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Source: Hellenic Shipping News

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Coaster salvaged by J.A. Rederiet

J A Rederiet has successfully executed a salvage operation of the German 1962-built coaster Nordland I, which has been standing high and dry on the beach of the German island Borkum in the Waddenzee. The small coaster, 349 DWT, was driven ashore in a storm three weeks ago.
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Source: Shipgaz

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Turkish Manta Denizcilik Orders Three Bulkers

The Deepwater Champion drill ship, from the Unites States-based oil and gas corporation ExxonMobil, passed through the Bosphorus on Friday to prospect for oil in the Black Sea.
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Source: Hurriyet Daily News

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No radiation contamination among ships arriving from Japan

No ships arriving in Taiwan from Japan have been detected with abnormal levels of radiation amid government efforts to prevent the entry of tainted materials in the wake of the nuclear crisis in Japan that was triggered by the March 11 earthquake and tsunami.
Chen Yi-hsiung, deputy director of the Taichung Harbor Bureau, said Thursday that goods and containers shipped by vessels from 13 ports in the hardest-hit areas of Japan are subject to stringent examination conducted by his bureau in cooperation with immigration and customs agents.
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Source: Focus Taiwan

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