Equinor and its partners ExxonMobil, Petrogal Brasil and Pré-sal Petróleo (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area, splashing approximately $8bn on the project. The development plan was approved by the Brazilian National Agency of...
https://splash247.com/equinor-sanctions-8bn-brazilian-oilfield-project/
US-based owner Eagle Bulk is expanding its fleet with the purchase of two scrubber-fitted ultramax bulkers from Wilbur Ross-linked company Nautical Bulk. According to Clarksons, the New York-listed firm paid around $44m for the 2015-built 63,550 dwt pair and Nautical Hilary. The acquisition of the...
https://splash247.com/eagle-bulk-snaps-up-ultramax-pair-from-nautical-bulk/
Simon Ring from Pole Star on how shipping has had to respect sanctions compliance over the past year. When OFAC, the US State Department and the US Coastguard issued their long-awaited maritime sanctions advisory a year ago, it was a landmark moment. The guidance was the first to target the wider...
https://splash247.com/how-ofacs-sanctions-advisory-is-changing-the-maritime-industry-for-good/
For the second year in a row, the majority of vessels passing through the Cabot Strait, between Newfoundland and Nova Scotia on Canada’s East Coast, are not complying with a Transport Canada voluntary slowdown request intended to protect critically endangered North Atlantic right whales in a key...
Ongoing social unrest in Colombia has significantly affected the Port of Buenaventura, Colombia’s primary Pacific Coast port, said the American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) in a notification. According to the Club, a blockade of the road to...
United States President Joe Biden stood by his decision to waive sanctions against the company at the helm of the German-Russian Nord Stream 2 gas pipeline project as he believes the move could have harmed relationships with Europe. The pipeline is owned by Nord Stream 2 AG, whose majority...
https://splash247.com/biden-sees-nord-stream-2-sanctions-as-counterproductive-for-european-ties/
The White House yesterday identified two areas off California that will be developed for wind energy generation, opening up the US Pacific Coast to its first commercial-scale offshore clean energy projects. These two areas could bring up to 4.6 GW of clean energy to the grid, enough to power 1.6m...
https://splash247.com/first-commercial-scale-offshore-wind-projects-for-us-pacific-coast/
A group of 11 unions that represent port workers issued a statement yesterday announcing a new work stoppage at Argentina’s ports. The workers are asking to be designated as essential workers, eligible for vaccination against the coronavirus. A strike last week created congestion at the Port of...
https://splash247.com/port-of-rosario-hit-by-another-strike/
Seadrill Partners, an affiliate of John Fredriksen’s Seadrill Limited, has emerged from chapter 11 after completing its reorganisation plan. The plan has equitised around $2.8bn in funded debt obligations, leaving the company debt free on emergence. The company has entered into new management...
https://splash247.com/seadrill-partners-emerges-from-chapter-11/
Oslo-listed Subsea 7 has been awarded a contract by Brazilian oil major Petrobras for the development of the Mero-3 field off the coast of the state of Rio de Janeiro, Brazil. The contract between $500m and $750m includes engineering, fabrication, installation and pre-commissioning of 80 km of...
https://splash247.com/subsea-7-scores-up-to-750m-contract-with-petrobras/