Avenir LNG in Brazilian Pact with Golar Power
Small-scale liquefied natural gas (LNG) supplier Avenir LNG announced that it will collaborate with the Bermuda-registered Golar Power in developing the small-scale LNG market in Brazil.Avenir’s second 7,500 cbm LNG Carrier will be used to deliver LNG to various ports across Brazil upon delivery. The vessel will also offer ship-to-ship bunkering capability as part of Avenir’s global multi-nodal bunkering solution…
Golar Power Wins Brazil Plant Gig
Golar LNG, a liquefied natural gas shipping company registered in Bermuda, said that its joint venture with Stonepeak Infrastructure Partners, Golar Power Limited has been awarded a 25 year power purchase agreement (PPA) for the construction of a 605MW combined cycle thermal power plant.The LNG-to-power Project will be developed by CELBA (Centrais Eletricas Barcarena S/A)…
Borr Drilling Wins Premium Jack-up Deal
The international drilling contractor to the oil and gas industry Borr Drilling has been awarded an additional jackup rig contract by Mexico’s Petróleos Mexicanos (Pemex).Borr currently has two jackup rigs about to commence work with Pemex, who have now contracted a third rig.The first rig, the "Grid", has arrived on site and is currently commencing its contract…
Golar Bullish on LNG Market
Through the provision of cheaper and cleaner energy the liquefied natural gas (LNG) market will likely take market share from coal and oil and sustain industry growth levels of around 10% for the foreseeable future, said Golar LNG.The shipping company registered in Bermuda said that key markets continue to import record levels of LNG as they distance themselves from coal and nuclear…
Nordic American Offshore Bags PSV Contract
Bermuda-headquartered Nordic American Offshore (NAO) has been awarded a two-year fixed contract for the Platform Supply Vessel (PSV) built in 2015, 'NAO Viking'.Commencement will be about mid-December 2018. The contract also grants the customer two one-year optional periods after the initial firm period, said a press release from the owner and operator of platform…
Höegh LNG Takes Delivery of Ninth FSRU
Bermuda-based floating liquefied natural gas (LNG) company Höegh LNG Holdings took delivery of Höegh Gannet, its ninth floating storage and regasification unit (FSRU).Höegh Gannet has regasification capacity of 1 Bcf per day and storage capacity of 170 000 cbm of LNG, combined making it the largest FSRU built by capacity, said a release from the company.The…
Teekay Expects Recovery in Tankers Market
Crude tanker rates have continued to strengthen during the early part of the fourth quarter of 2018, particularly in the Atlantic Basin with Aframax tanker rates in this region attaining levels not seen since December 2016 and Suezmax tanker rates averaging the highest since March 2017, says Teekay Tankers.The conventional tanker fleet operator said that crude tanker spot rates firmed counter-seasonally during the third quarter of 2018…
Noble Group Halves Net Loss in Q3
Noble Group Ltd halved its quarterly net loss from continuing operations to $43.3 million and said its soon-to-be-completed $3.5 billion debt restructuring would enable the commodity trader to reposition its business in Asia Pacific and the Middle East.The Singapore-listed company is seeking approval from a Bermuda court for its restructuring and payment to creditors, the final hurdle to completing a debt-for-equity swap.
Keppel Closes Deal with Borr Drilling
Keppel FELS Limited, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (KOM), had entered into a Heads of Agreement with Borr Drilling Limited of Bermuda. Keppel FELS has now signed the relevant definitive agreements with Borr Drilling to novate the construction contracts of the five jackup rigs currently being built by Keppel FELS for Transocean Ltd to Borr Drilling.
Contest: Join a Plastic Pollution Research Voyage to the Atlantic Ocean
The 5 Gyres Institute, a leader in global plastic pollution research, has launched an online contest for those who want to learn first-hand about the problem and help drive solutions. One winner will be chosen to join the final leg of 5 Gyre’s June research expedition to the North Atlantic Ocean. Contestants may enter here through May 11, 2015. The final, six-day leg of the voyage will traverse the North Atlantic Subtropical Gyre…
Total Eyes Closing Nine Units Located in Tax Havens by 2017
French oil major Total disclosed a list of all its 903 subsidiaries worldwide in a transparency move on Wednesday after recurring criticism about the group's presence in tax havens. Total, vying with Sanofi for the crown of France's biggest listed company, said it was working on withdrawing nine of the 19 entities in countries deemed to be tax havens by the end of 2016.
Hurricane Gonzalo Knocks out Bermuda Power
Power was knocked out to 80 percent of Bermuda's electricity grid due to Hurricane Gonzalo, the island's only power company, Bermuda Electric Light Co., said on Friday evening. The company reported that about 29,000 customers were without electricity, out of 36,000 metered connections. The eyewall of Hurricane Gonzalo made a direct hit on Bermuda on Friday evening…
Frontline & TI form new VLCC Company
Frontline Management (Bermuda) Ltd. and Tankers International LLC (TI) today announced the formation of a new company, VLCC Chartering Ltd ('the Company'). *to reduce voyage related expenses and thereby improve the net earnings (TCE) of the Very Large Crude Carriers (VLCCs) operated by both owning companies through optimisation of voyages. *to reduce carbon emissions…
Sargasso Sea Protection: 11 Countries Pledge to Support Pact
Representatives from 11 countries and territories from North America, the Caribbean and Europe have committed support for the conservation of the Sargasso Sea eco-system for the benefit of present and future generations, informs the Sargasso Sea Alliance (SSA). The Alliance explains that for more than two years, it has collaborated with the Bermuda government in a push for the establishment of safeguarding measures for the Sargasso Sea…
