Libyan Gas Field Operational After Strike

By Reuters 2015-05-03 16:46:57 Protesters at Libya’s eastern port of Brega agreed a deal on Sunday to end their strike, Libya’s state-run Sirte Oil Co said, clearing the way for the Irda natural gas field to resume production. Gripped by chaos four years after the ousting of leader Muammar Gaddafi, Libya’s oil and gas sector…

Details

10 Migrants Die, 4,800 Rescued

By MarEx 2015-05-03 16:19:37 About 4,800 migrants were plucked from boats off the coast of Libya over the weekend and 10 bodies were recovered, Italy’s coast guard and navy said, in what looked to be the biggest rescue operation of its kind so far this year. Two weeks after nearly 900 boat people drowned in…

Details

Saudi Arabia Restructures Oil Giant Aramco

By Reuters 2015-05-02 05:33:45 Saudi Arabia is restructuring the world’s biggest energy company, Saudi Aramco, in a move apparently aimed at letting it operate more at arm’s length from the powerful oil ministry. Analysts expected technocrats to get a freer hand in running the state-owned giant. Some said the restructuring might be the first step…

Details

Fame and Glamor in Cunard’s Past

By Wendy Laursen 2015-05-01 19:20:31 Cruise line Cunard is celebrating its 175 anniversary this year. MarEx has gathered photos of the line’s glamorous cruisers of the past. 48 passenger ships have flown the Cunard flag since Britannia established the first scheduled service across the Atlantic in July 1840, and every year since that departure Cunard…

Details

Cunard Celebrates 175 Years of Innovation

By MarEx 2015-05-01 18:49:50 Cruise line Cunard is celebrating its 175 anniversary this year. Despite Samuel Cunard’s initial brave gamble to establish the company, Cunard mirrored its founder’s natural conservatism and took the view in its early years that innovations should be tackled by its competitors who would resolve any associated risks. Only after the…

Details

HAL’s Maasdam Adds to Sickness Tally

By Wendy Laursen 2015-05-01 18:09:22 Holland America Line’s cruise ship Maasdam is the latest in a string of cruise ships with passengers suffering in outbreaks of gastrointestinal sickness this year. The U.S. Centers for Disease Control and prevention report that 67 passengers (nearly six percent) and 12 crew members (two percent) have fallen ill on…

Details

Canada Shrinks “Big” Navy Plans

By Reuters 2015-05-01 17:43:19 Canadian officials said on Friday a C$26.2 billion ($21.5 billion) program to build 15 naval ships could end up below target and over budget, the latest challenge to Canada’s troubled military procurement process. In 2010, the Conservative government announced the program to replace three destroyers and 12 frigates with 15 modern…

Details

U.S., Canada Toughen Oil Train Safety Standards

By Reuters 2015-05-01 16:13:26 The United States and Canada on Friday announced long-awaited safety rules for trains carrying oil, as regulators seek to reduce risks after a series of explosive accidents that accompanied a surge in crude-by-rail shipments. The rules call for a rapid phase out of older tank cars considered unsafe during derailments, and…

Details

U.S. Ports Celebrate Increased Congressional Funding

By Kathryn Stone 2015-05-01 15:59:10 The American Association of Port Authorities (AAPA), which represents more than 130 public port authorities in the United States, Canada, the Caribbean and Latin America, celebrates a major funding victory today with the passage of the US House of Representative’s 2016 Energy and Water Appropriations bill and two included amendments.…

Details

Crude drop hits barge sector

US crude production pullbacks due to lower pricing are now having a significant effect on inland barge operators like Kirby Corp.
NYSE-listed Kirby has dropped its full-year profit guidance by 6-9%, citing crude production declines. According to company executives, 100-150 barges have already been
Details