ACCRA, May 29 (Reuters) – Fifty-eight workers tested positive for COVID-19 at an oil production facility run by Tullow Oil off Ghana’s Atlantic coast, the company said in a statement on Friday. Fifty-seven workers tested positive on a support vessel for a floating production and storage (FPSO) tanker. Another worker tested positive on the FPSO […]
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Oil’s Record Rebound Stymied by Demand Uncertainty
By Olivia Raimonde and Alex Longley (Bloomberg) — Oil’s historic rebound this month from its dramatic plunge below zero is running into headwinds. While crude has surged almost 80% in May, driven by massive supply curbs by producers across the world, prices are still well below levels at the start of the year. Market watchers […]
Distressed VLCC at Anchor Off South Africa
The South African Maritime Safety Authority (SAMSA) is responding to a VLCC in distress off the port of St. Johns. The Chinese-flagged tanker, MT Yua Hua Hu, is currently at anchor in 35 meters of water with a tug attached to the stern providing a “static tow”. AMSA reports that the VLCC’s anchor is holding. […]
APL England Master Charged Over Loss of Containers Off Sydney
Australian authorities have brought charges against the master of the APL England, which lost about 50 containers overboard off Sydney on Sunday. The offenses relate to pollution and/or damage of the Australian marine environment as a result of poor cargo loading, the Australian Maritime Safety Authority said. AMSA General Manager Operations Allan Schwartz said laying […]
Temasek Unit in Talks for At Least $400 Million Ship Deal
By Ameya Karve, Denise Wee and Abhishek Vishnoi (Bloomberg) –A unit of Temasek Holdings Pte. is in talks for a potential investment of at least $400 million in Singapore shipping tycoon Chang Yun Chung’s Pacific International Lines Pte., according to people familiar with the matter. Heliconia Capital Management Pte., a wholly owned subsidiary of Singapore’s […]
