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Wreckage confirmed to be missing American cargo ship

United States National Transportation Safety Board has confirmed that the wreckage found on Saturday off the coast of the Bahamas at a depth of about 15,000 feet is that of the missing American cargo ship El Faro.  Snar equipment towed f...

03/11/2015 Read

Piracy Crackdown in Southeast Asia Bears Fruit

A piracy crackdown in Southeast Asia appears to be having a positive impact on the number of piracy attacks in the region with only two hijackings reported in the third quarter of the year, according to the latest piracy report issued...

02/11/2015 Read

LOTOS takes interest in Sleipner field

LOTOS Exploration and Production Norge AS has entered into an agreement with ExxonMobil to acquire a portfolio of assets in the Sleipner gas field, located in the Norwegian sector of the North Sea. According to LOTOS, in 2015, the average producti...

02/11/2015 Read

Hornbeck Offshore to Have 30 OSVs laid-up by the End of Year

Hornbeck Offshore is set to have more than 30 OSVs fleet stacked by year-end as the slump in oil prices continues to wreck the offshore market. The company, which owns and operates a fleet of new generation OSV vessels mostly working in the U.S. G...

30/10/2015 Read

Shell Pushed into loss by charges

Royal Dutch Shell has reported a loss for the third quarter of the year, after taking a big charge to reflect the cost of halting major projects.   The oil company reported a loss of $6.1bn in the quarter, compared with a $5.3bn profi...

29/10/2015 Read

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