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Kinder Morgan Q3 Revenue Dips on Harvey Impact

(Photo: NASA)

Pipeline operator Kinder Morgan Inc reported a 1.5 percent fall in quarterly revenue, partly due to the impact of Hurricane Harvey.   In August, Harvey hit the Texas shore as a fierce Category 4 hurricane, causing massive flooding, which knocked out 11 percent of U.S. refining capacity, a quarter of oil production from the U.

Italy Breaks up Libyan Fuel Smuggling Ring

Sicilian police on Wednesday sought the arrest of nine people, including a suspected mobster, for running a Libyan fuel-smuggling ring in which at least 30 million euros ($35 million) of diesel was sold in gas stations in Italy and Europe.   A Libyan, nicknamed the "boss", used small boats to steal fuel from a refinery in Zawiya,

World’s First Floating Wind Farm Starts Production

The Hywind Scotland floating wind farm. (Photo: Øyvind Gravås / Woldcam - Statoil ASA)

The world's first offshore floating wind farm has started to deliver electricity to the Scottish grid, providing power to approximately 20,000 households.   The 30MW Hywind Scotland wind farm, operated by Statoil in partnership with Masdar 25 kilometers offshore Peterhead in Aberdeenshire, Scotland,

Hapag-Lloyd Completes Capital Increase

Image: Hapag-Lloyd

 Hapag-Lloyd has successfully completed the capital increase with subscription rights agreed upon on 28 September 2017. By partially utilizing the authorized capital, the gross issue proceeds amount to approximately EUR 352 million (approx. USD 414 million).    96.5 percent of the existing shareholders exercised their subscription rights.

CEFC Eyes Big League with Rosneft Oil Offtake Deal

As part of its recent $9.1 billion investment in Russian oil giant Rosneft, little-known CEFC China Energy will have access to up to 260,000 barrels per day (bpd) of Russian oil - giving it the sort of market clout to potentially challenge dominant Western oil traders like Vitol.   For China, the world's top crude importer,

Coast Guard Responds to Oil Platform Blast

The U.S. Coast Guard is coordinating search efforts for a missing man after an explosion on an oil platform in Lake Pontchartrain near Kenner, La., Sunday evening.   Coast Guard Sector New Orleans received a report from a witness at approximately 8 p.m. of an oil platform explosion. The cause of the incident is unknown.

Waterways Council, Inc. Update

File Image only (CREDIT: WCI)

As of today (October 16, 2017), the Ohio River is now OPEN at Lock & Dam 52 (L&D 52).   The river reopened on Saturday after it had been closed for nearly a week due to rising river stages that exceeded the maximum locking stage of 20.7 feet.   Precipitation from Hurricane Nate prompted the rising river levels and closure,

Metal Shark Delivers Potomac Riverboat Passenger Vessels

Potomac Image 3.jpg

The first two passenger vessels built by Louisiana-based shipbuilder Metal Shark for Entertainment Cruises’ Potomac Riverboat Company division have been delivered to Washington, D.C. and are now in service.   The  two 88’, 149-passenger high speed aluminum catamaran vessels “Potomac Taxi I” and “Potomac Taxi II” departed Metal Shark’s Franklin,

IWAI Raises Funds Through Bonds

Image: Water Resources Information System of India

The Inland Waterways Authority of India (IWAI) has raised Rs. 660 crore (USD 102mln) as “Government of India(GOI) Fully Serviced Bonds”. The resources raised by way of bonds are in addition to the budgetary support from the Government of India.    The Government had taken a decision to enable IWAI

The Environmental Age: What Will Power Future Ships?

Photo courtesy of  Europort

What will power the future shipping fleet? What will the future fuel mix be? These questions are being asked with greater frequency in the wake of the Global 2020 Sulphur Cap ruling agreed at the International Maritime Organization and other tightening regulations around air pollution and emissions from shipping operations.

Diana Shipping Sells Panamax Dry Bulk Vessel

Melite. Photo: Diana Shipping Inc.

 Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels,  announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2004-built vessel “Melite” for demolition, on an “as is where is” basis,

Market Snapshot: Offshore Outlook

(Source: Vessels Value)

Notwithstanding the recent surge in crude oil prices, it isn’t lost on anyone that the offshore oil exploration business is, and has been for some time, in the doldrums. In the U.S. Gulf, that pain can be seen through Chapter 11 filings and the sobering specter of vessel after vessel rolling off the shipyard ways and directly into cold iron layup.

Gastrade Signs LNG Deal with State-owned DEPA

Greece's state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquified natural gas terminal in northern Greece, DEPA said.   Greece currently has one LNG terminal on an islet off Athens. Gastrade,

Innogy Issues $1 Bln Bond to Fund Wind Farms

© Terrance Emerson / Adobe Stock

Innogy, Germany's largest energy group, on Thursday issued a 850 million euros ($1.01 billion) corporate green bond to refinance wind power projects in Europe, it said.   Proceeds of the bond, which has a 10-year maturity, will be used to refinance four offshore wind farms in Britain and Germany as

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