Oil prices jumped more than 4 percent on Friday after major producers agreed to modest crude output increases to compensate for losses in production at a time of rising global demand. The Organization of the Petroleum Exporting Countries and other…

East Libyan forces said on Thursday they had retaken the shuttered oil ports of Es Sider and Ras Lanuf, hours after clashes resumed south of Ras Lanuf during a counter-attack by rival factions. Staff were evacuated from terminals in Libya’s…

Image Courtesy: Ocean Affairs Council One of two tankers that ran aground off Kaohsiung, Taiwan last week, split in two in the morning hours of June 18. According to Taiwan’s Maritime and Port Bureau (MOTC), the tankers were not loaded with…

One of two oil storage tanks ignited amid clashes at the Libyan oil port of Ras Lanuf has collapsed after burning for several days, a local engineer and a fire fighter said on Tuesday. Ras Lanuf’s storage tank No. 2…

Image Courtesy: Indian Navy Indian naval forces managed to drop an anchor from the ill-fated merchant vessel SSL Kolkata on June 16, only days after the ship caught fire off Sandheads, Kolkata. A helicopter crew winched down one officer aboard the…

A fire in the hold of a bulker ship on Monday briefly closed Australia’s Port Kembla, the second-largest coal export port in New South Wales state, stopping shipping for eight hours. The port was shut soon after the blaze began…

The Meridian Port Services Limited (MPS) has taken delivery of the first financing package of the required financing to execute the Tema Port expansion project. An amount of $100 million from the $667 million project financing package arranged by the…

Caption: More than 100 firefighters battled the blaze at Port Kembla – Images courtesy of Fire and Rescue NSW Operations at Port Kembla have been suspended as firefighters continue to battle a large blaze that broke out on board self-discharging bulk carrier Iron Chieftain in Port…

True to its projections, Malaysia’s Yinson Holdings announced that it has entered negotiations with a Nigerian company to supply a floating production storage and offloading (FPSO) unit. Yinson said in a stock market announcement that its Yinson Operations & Production…

River/coastal Thai cargo ship PATHARA MARINE 6 capsized and sank at around 2340 LT (UTC +7) Jun 13 off Ko Si Chang island, while en route from Laem Chabang Port to Bangkok, according to official statement cited by Bangkok Post.…