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Shell today announced a significant, multi-billion dollar investment to develop its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico (GoM). The Cardamom project is expected to produce 50,000 barrels of oil equivalent (boe) a day at peak production and more than 140 million boe over its lifetime, the company said. “Technologi...
Work on the $1 billion tunnel connecting Dodge Island to regional highways is underway. This summer, work is to begin on a rail line reconnecting the Port of Miami to the Hialeah Rail Yard, and dredging in one of its channels is to begin in coming months, Dredging Today reports. Port Director Bill Johnson, speaking at the Greater Miami Chamber of Commerc...
GC Rieber Shipping of Bergen, Norway recently took delivery of the offshore ROV-survey vessel – the ‘Polar King’ – constructed by CNP Freire shipyard in Spain. The newbuilding has a diesel-electric propulsion system that features 6 × MAN 9L21/31 engines and will support activities in the hydrocarbon sector. MAN Diesel & Tur...
Brazil's state-owned oil and gas giant Petrobras said Thursday it discovered two major oil deposits and a gas deposit in the Gulf of Mexico, together with Exxon Mobil. The discoveries, with estimated total reserves exceeding 700 million barrels of oil equivalent, were made in a concession zone of the Hadrian area in the U.S. portion of the Gulf, about 40...
BIMCO members elected Yudhishthir Khatau as the 41st President of the international shipping organization at their general meeting in Vancouver, Cargonewsasia reports. Succeeding German owner Robert Lorenz-Meyer, who has completed his two year time in office, Khatau is the first president from India and at 43, the youngest ever in the organisation’s...
Marseilles Fos Port Authority has completed the transfer of all its personnel and equipment to privatised terminals, as required under national port reforms, ifw-net reports. The last of 410 members of staff were transferred on Saturday, when 41 crane drivers and maintenance staff, four gantries and a mobile crane were assigned to newly formed operator In...
Acting Managing Director of the International Monetary Fund (IMF) John Lipsky said Thursday that the transformation of China's economic growth pattern is important to the rest of the world. China's economy would continue to be a "bright spot" for global growth and the IMF maintains its forecast for China to grow around 9.5 percent for both this year and...
The Chinese currency Renminbi, or the yuan,weakened by 23 basis points to 6.4853 per U.S. dollar on Friday, according to the China Foreign Exchange Trading system. On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day. The central parity rate of the RMB against the U.S. dollar is ba...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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