Repsol and Indra have joined forces to create HEADS, a system for the early detection of leaks aimed at enhancing security in energy industry operations at sea (Hydrocarbon Early Automatic Detection System).
Best Practice in Ships Financial Management
March 26, 2014 by Leave a Comment
While Finance and Accounting departments normally do not have much influence on a company’s financial performance directly, they play a huge role in providing accurate data and thereby enabling other departments and the management to make the right decisions. During 2013 GL and Fraunhofer CML experts conducted a study involving about 100 ship managing companies across the globe to find out what they are doing to improve their operations and what they consider as “best practice” in the industry.
Faroe Petroleum Audited Preliminary Results for 2013
March 25, 2014 by Leave a Comment
Faroe Petroleum, an independent oil and gas group focused on oil and gas exploration and production in Norway, the Atlantic margin and the UK North Sea, announced today its audited Preliminary Results for the year ended 31 December 2013.
Barge Collision With Oil Spill in Houston Ship Channel
March 23, 2014 by Leave a Comment
Last Saturday at approximately 12:35 p.m., watchstanders at Coast Guard Sector Houston/Galveston received a call from the captain of the 585-foot bulk carrier Summer Wind, reporting a collision between the Summer Wind and a barge, containing 924,000 gallons of fuel oil, towed by the motor vessel Miss Susan.
The Future of Arctic Shipping: A New Silk Road for China?
March 20, 2014 by Leave a Comment
Every time Arctic sea ice extent reaches a new record low a host of new reports and studies predict a rapid increase in shipping activities in the Arctic. Expectations are high that Arctic shipping routes, particularly the Northern Sea Route, will rival traditional shipping routes and complement the Suez Canal route as a key waterway for trade to and from Asia by the middle of this century. One of the drivers of Arctic shipping, as the logic goes, is China’s rapidly growing international trade. As China aims to diversify its trade routes and reduce its dependence on trade passing through the Strait of Malacca, the Arctic offers an alternative and shorter route to conduct part of its trade. How realistic are such scenarios?
DNV GL develops Arctic Risk Map
March 20, 2014 by Leave a Comment
Declining sea ice is creating new possibilities for industrial activities in the Arctic, yet the region is highly variable in its resources and conditions, creating a complex risk picture.
Ships Collision off Tokyo Bay Japan
March 19, 2014 by Leave a Comment
A collision took place between two cargo ships in the area outside Tokyo Bay leaving one sailor dead and eight others missing.
Climate Change: Ensuring Trade at Lower Carbon Intensity
March 19, 2014 by Leave a Comment
Maersk recently launched a new sustainability strategy with the aim of accelerating the company’s positive impacts. The purpose is to address significant sustainability challenges in society which at the same time constitute bottlenecks to Maersk’s growth strategy.
LNG Bunkering of Vessels in North America
March 19, 2014 by Leave a Comment
The effect of increasingly stricter air emissions legislation implemented through International Maritime Organization (IMO) Annex VI and other local air quality controls, together with favorable financial conditions for the use of natural gas instead of liquid fuel oil as a bunker fuel is increasing the number of marine vessel owners that are considering the use of liquefied natural gas (LNG) as a fuel.
Rise of Maritime Piracy in the Gulf of Guinea
March 19, 2014 by Leave a Comment
UN has recently issued a report on the Maritime Piracy in the Gulf of Guinea. Piracy in the region has become a growing concern. Much of the piracy that affects West Africa is a product of the disorder that surrounds the regional oil industry.
Officer of the Watch 