Europe News

Khamis Juma Buamim, Chairman of Drydocks World & Maritime World

Drydocks World & Dubai Maritime City Participate In Posidonia

Drydocks World & Dubai Maritime City, the international service provider to the shipping, maritime, offshore, oil, gas and energy sectors, announced its participation in Posidonia from June 2-6, 2014, at Metropolitan Expo, Athens, Greece. The exhibition is one of the largest industry shows in Europe.Drydocks World & Maritime…

YPF Makes Gas Discovery In Western Argentina

Argentina state oil producer YPF said on Sunday it had made a discovery of 'tight gas' in the western Argentine province of Mendoza. The find by the Paso de las Bardas Norte xp-37 exploration well has a potential 25 million barrels equivalent of recoverable resources, the company said in a statement. There was also "important potential" for oil, it added.

Poland: France Should Pull Back from Russian Navy Deal

Poland's foreign minister urged France on Tuesday to cancel a 1.2 billion euro ($1.66 billion) contract to sell Mistral helicopter carriers to Russia, saying these would be used to threaten east European nations. The United States and some European partners have been urging Paris to reconsider its supply of high-tech military hardware to Moscow following Russian action in Ukraine…

EU Policy Paper Backs Help to Export Coal-Fired Power Plants

European makers of coal-fired power plants should get financial help to export the equipment, an EU policy paper seen by Reuters says, flying in the face of environmental opposition to any form of subsidy for coal. Coal is the most polluting fossil fuel, emitting around twice as much carbon dioxide as gas when used to generate power.

Libyan Currency Under Pressure as Chaos, Budget Crisis Deepen

Libya's currency is under heavy pressure as a breakdown in security and a collapse of oil revenues due to port blockades have badly disrupted public finances and an economy already burdened by exploding state salary and subsidy bills. Over the past two months, the dinar has fallen more than seven percent against the dollar on the black market…

Thuraya Launches Broadband Satellite Terminal

Thuraya Telecommunications, a Mobile Satellite Services (MSS) operator, said it has further extended its maritime product portfolio with the launch of Atlas IP, a feature-rich broadband satellite terminal. Thuraya Atlas IP is the second maritime-specific product launched by Thuraya in 2014 and is designed to complement…

CEE Day Ahead Gains on Low Wind, Hungarian Spot Premium Remains

Central European day ahead power rose on Monday, boosted by forecasts for low wind generation levels while outages in the Balkans helped to keep Hungarian prices at a premium, traders said. On regional exchanges, Czech and Slovak electricity for Tuesday rose more than 7 percent to 38.77 euros ($52.90) per megawatt hour…
Adam Singer, Chair, UKHO

New UK Hydrographic Office Chair Appointed

Adam Singer has been appointed to the role of Chair of the United Kingdom Hydrographic Office (UKHO) for three years. He takes over the role from Sandra Rogers who has served on the Hydrographic Office Board for 13 years. Adam is currently Chairman of the British Screen Advisory Council, Digital Radio UK, and the Authors’ Licensing and Collecting Society.

Russia, Ukraine Hope for Gas Deal this Week

Ukraine has started to pay off gas debts; Gazprom delayed switching Kiev to prepayment. Russia and Ukraine signalled on Tuesday they hope to resolve a dispute by the end of this week over billions of dollars in unpaid gas bills that threatens supplies to Europe and is stoking their political conflict. Russian state-owned…

Record Cocaine Haul Found Hidden Under Bananas

Customs officers in Montenegro have seized 250 kilograms of cocaine smuggled beneath a shipment of bananas, authorities said on Thursday, in what was described as the biggest drugs haul ever in the Adriatic republic. Vladan Jokovic, the head of Montenegro's Customs Authority, said the cocaine was worth about 12.5 million euros ($17 million) and was seized on Wednesday in the southern port of Bar…

CEE Wind Lowers Prices; Hungary Moves to Premium

Expectations for stronger wind generation weighed down central European spot power on Tuesday as an unplanned outage and less import capacity helped keep Hungarian prices at a premium, traders said. Electricity for Wednesday fell more than 1 percent to 37.60 euros ($51.16) per megawatt hour in the Czech Republic, dipped…

MOLMC Gains NK Certification for Education & Training

Mitsui O.S.K. Lines, Ltd. (MOL) today announced that its group company MOL Marine Consulting, Ltd. (MOLMC) has acquired certification for its Bridge Resource Management (BRM) training program from Nippon Kaiji Kyokai (NK), effective May 30. MOLMC is the first company in Japan to upgrade its BRM training program to meet…
Image courtesy of Cal Dive

Cal Dive Sells Off its GofM Surface Diving Fleet

Cal Dive International says it has sold its U.S. Gulf of Mexico shallow water surface diving fleet to a privately held company for cash of US$18.5-million and a 19.9% minority interest in the entity acquiring the assets. Cal Dive explains that the assets sold are comprised of eight surface diving vessels and miscellaneous…

Ukraine to Split Debt-laden Gas Company

Decree expected later on Wednesday with more details; Naftogaz reform a condition of IMF help (Adds comment from energy minister, confirms proposal accepted. Ukraine will to split its debt-laden state-controlled gas company Naftogaz into three separate businesses to comply with European Union rules regulating competition.

Rosneft Eyes Azeri Gas, Oil Pipeline Use

Russia's Rosneft wants to increase its presence in Azerbaijan, courted by the European Union for its gas, by joining a gas project and using a pipeline for its oil shipments. Vitaliy Baylarbayov, deputy vice-president at Azeri state oil company SOCAR, told Reuters Rosneft, Russia's top crude producer, might seek a stake…
Gazprom's annual General Shareholders Meeting

Gazprom is major investor in European energy security

On the threshold of Gazprom's annual General Shareholders Meeting, the Company's headquarters hosted today Press Conference “Gas Export and Enhancing Reliability of Gas Supply to Europe”. Taking part in the Press Conference were Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, Director General of Gazprom Export…

Power for Next Work Day Down on Less Demand, More Supply

Central European power for the next working day fell on Friday due to a holiday in the region expected to crimp demand and forecasts for strong renewable supply that would increase supply, traders said. Czech power for Monday delivery fell to 19 euros ($25.87) per megawatt hour in the over-the-counter market, well below the Friday delivery price of 32.90 euros and the day ahead price of 25 euros.
Illustration of TEU Volumes per Port Call: Source: Drewry Maritime Research

Mega-Containerships Trigger Terminal Shake-ups

Bigger container ships are resulting in much greater peaks in container terminal activity, which together with the ever larger combined volumes of bigger alliances, demands fewer, larger terminals in each port. Terminal operators are reacting by consolidating terminal layouts and ownership – and by working more closely together – but what are the consequences for their customers?

BP awards Wood Group Shah Deniz Subsea Project

British energy services company Wood Group said on Tuesday it had been awarded by BP a 36 million pounds ($60.3 million) subsea contract for the Shah Deniz II gas project in Azerbaijan. The new call-off contract for 2014 is part of the two companies' 2007 global agreement and will cover engineering and project management services for the Shah Deniz II Subsea Execute phase, Wood Group said.
Øystein Løseth (Photo: Vattenfall)

Statoil Recommends Løseth for Board of Directors

The nomination committee in Statoil recommends that the company's corporate assembly elects Øystein Løseth as a new member of Statoil's board of directors. Furthermore, the nomination committee recommends the reelection of Svein Rennemo (chair), Grace Reksten Skaugen (deputy chair), Bjørn Tore Godal, Maria Johanna Oudeman…