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Norway awards record number of new oil licenses

The Norwegian Shelf will be a busy workplace over coming years if the oil companies seize the opportunity and utilize the many licenses they have just been awarded. Statoil and Aker BP were the big winners.

South Korean fund to support construction of 200 new ships

South Korea's shipping industry can look forward to massive support from a newly established fund, which will aid the construction of up to 200 new ships, announces the director for ports and logistics at the Ministry of Oceans and Fisheries.

Major bank supports LNG for green shipping

French bank Société Générale has joined the SEA/LNG coalition and will thus be part of the work to spread LNG as marine fuel. This is the latest example of a bank getting involved in the environmental decisions of the shipping industry.

This week's top picks on ShippingWatch

During the first week of 2018, Maersk Drilling received criticism from Norwegian authorities after a fatal accident, while Nordic Tankers sold a joint venture to a German carrier. And optimism seems to be returning to offshore, not least Norway's oil capital Stavanger.

North Korea keeps sneaking in oil with secret ship transfers

When ships transfer cargo to each other in the ocean, it makes it hard to enforce international sanctions against selling oil to North Korea. "It's very easy to black out a ship and hide it," said Rahul Kapoor, an analyst with Bloomberg Intelligence in Singapore.

Ramboll merges oil and gas with renewables

Oil and gas, wind and other energy divisions will sit under one entity at Danish engineering group Ramboll. The company is merging Oil & Gas with Energy and creating an entity which will make up 12 percent of revenue.

Maersk Broker has doubled its dry bulk organization

The Maersk family's broker business has grown big-time in dry bulk within the past two years. The freight market as well as sale and purchase of vessels look reasonable for the next three years, CEO Anders Hald tells ShippingWatch.

China's ship financing skyrockets

Leasing banks in China have increased their shipping loans by 33 percent this year, reports the Wall Street Journal. The growth is expected to continue.

This week's top stories on ShippingWatch

The week brought a large-scale merger between Euronav and Gener8 Maritime, questions concerning Maersk's key route in Latin America, Swedish sulfur legislation and much more.

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