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Russia hit with million-dollar fine after oil protests

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An international court has sentenced Russia to pay USD 6 million in fines in a case related to Russia's imprisonment of 30 Greenpeace activists in 2013. The activists were protesting against oil drilling near the Arctic when Russian special forces boarded their ship.

Saudi Arabian crude shipments to US drop to seven-year low

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Shipments of crude oil from Saudi Arabia to the US dropped to a seven-year low last week, and the trend looks set to continue amid OPEC's output cap deal and the country's seasonal increase in domestic oil consumption.

Statoil bets big on Brazilian oil

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Statoil has great ambitions for Brazil where the company has now bought a bigger stake in field Caraca. In the long term, Statoil wants to achieve a daily output of around 700,000 barrels per day in Brazil, reports Dagens Næringsliv.

Statoil is hiring again

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After thousands of layoffs over recent years, the Norwegian oil major again plans to hire new staff for the Norwegian shelf. There are still new projects on the way in this area, says Statoil.

This week's top stories on ShippingWatch

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Major internal battles in the UN IMO regarding shipping's role in terms of the climate and environment, accounts from the world's second-largest bunker group, and the Maersk Group's problems after a hacker attack and chemical discharge in the North Sea made headlines this past week.

This week's top stories on ShippingWatch

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APM Terminals lays off 160 in Gothenburg in a move to end the protracted port labor conflift. Shipowners look to postpone the ballast water convention by two years. Shippers worry about a shortage of reefer containers. Oil is headed for USD 40. Here are this weeks top picks.

Media: Maersk Oil headed for IPO

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Maersk Oil could be listed on the stock exchange in less than six months, reports Danish media Berlingske, based on information from unnamed sources. Meanwhile, the group is shelving IPO plans for Maersk Supply Service and Maersk Drilling, and the future is unclear for Maersk Tankers.

Noreco returns with big plans for the North Sea

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A few years ago, Norway's Noreco faced potential bankruptcy. Today, things have turned around after the company emerged victorious in a Danish insurance claims case. Noreco will now invests large sums on the British and Danish North Sea shelves, reports Dagens Næringsliv.

This week's top stories on ShippingWatch

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Arab boycott of Qatar with the potential to create difficulties for Hapag-Lloyd, the collapse of Germany's Rickmers Group, and tanker carriers such as Torm and Hafnia in play in an expected consolidation wave, were among this week's top stories on ShippingWatch.

Last week's top stories on ShippingWatch

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Another consolidation in the tanker industry. US President Donald Trump will pull the US out of the Paris Climate Accord. 180 years of shipping may come to a end at Rickmers Group. News from Nor Shipping. Read this week's top picks on ShippingWatch.

Prosafe CEO believes in brighter days ahead

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Oil companies are sending positive signals as they seem poised to spend more money, says Prosafe's CEO. He believes in brighter days ahead for the leasing of accommodation rigs – but it will be a long journey, says the Dane with a professional past at J. Lauritzen.

BW Offshore noted setback in first quarter

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BW Group's offshore carrier booked a significantly lower operating profit in the first quarter this year than in the preceding quarter. Following this quarter, the company feels equipped for new projects, citing factors such as a new partnership with ICBC.

Offshore
Røkke companies' value down NOK 2.8 billion

Aker Group, which covers six companies operating in oil and shipping and is owned by Kjell Inge Røkke, saw its value drop NOK 2.8 billion in the second quarter. Sliding share prices in Aker BP, Aker Solutions, and Kvaerner, in particular, dragged the group down. But the CEO is optimistic.

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