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Singapore-based oil and gas firm Jadestone Energy has revealed that its Stag oilfield, located 60 km offshore Western Australia, has been damaged by cyclone Narelle. The shutdown of the Stag facilities commenced on March 23, and the platform was demobilised due to the projected path of the cyclone, which developed into a category 5 storm …
https://splash247.com/cyclone-narelle-damages-jadestone-energys-platform-off-australia/
https://splash247.com/cyclone-narelle-damages-jadestone-energys-platform-off-australia/Norway’s BW Energy has signed a sale and leaseback agreement with Minsheng Financial Leasing (MSFL) for the 2004-built Jasmine Alpha jackup drilling rig. Under the agreement, BW Energy will receive $80m in cash consideration, which, according to the company, will strengthen its financial flexibility while maintaining continued access to the unit. Under the agreement, BW …
https://splash247.com/bw-energy-seals-80m-rig-sale-leaseback-deal-with-chinese-firm/
https://splash247.com/bw-energy-seals-80m-rig-sale-leaseback-deal-with-chinese-firm/Goran Dominioni, assistant professor in climate change law and policy at Dublin City University and visiting professor at the World Maritime University, writes for Splash today. The UN’s International Maritime Organization (IMO) agreement on the Net-Zero Framework reached last year was seen by many as the biggest climate breakthrough in recent history. A key component of …
https://splash247.com/seven-reasons-for-a-global-revenue-raising-policy-on-international-shipping/
https://splash247.com/seven-reasons-for-a-global-revenue-raising-policy-on-international-shipping/China’s shipbuilding capacity surge has accelerated with a wave of reactivated yards and major expansions across established shipbuilding groups, in what is the most significant capacity expansion in years, according to broker BRS Group’s latest 181-page annual shipping markets review. China reached an orderbook market share of 70.9% at the end of 2025, up from …
A French court has sentenced the Chinese captain of a suspected Russian shadow fleet tanker to one year in prison and issued an international arrest warrant against him, in a ruling that marks one of the most significant legal escalations yet in Europe’s campaign against vessels circumventing Western sanctions on Russian oil. Captain Chen Zhangjie, …
https://splash247.com/french-court-jails-chinese-shadow-fleet-captain-in-absentia/
https://splash247.com/french-court-jails-chinese-shadow-fleet-captain-in-absentia/The sale and purchase market continued to firm this week, with asset prices for large bulkers pushing higher despite geopolitical tensions. Demand for capesize tonnage remains strong, with brokers reporting a few deals per week. All eyes have been on the sale of a Japanese-built bulker after owners invited offers earlier this month for the …
https://splash247.com/japanese-built-cape-prices-jump-15-in-two-months/
https://splash247.com/japanese-built-cape-prices-jump-15-in-two-months/The takeover battle between dry bulk players Genco Shipping & Trading and Diana Shipping is stepping up, with the US-based owner urging shareholders to ignore its rival’s advances and back the current board. In a fresh letter to investors, New York-listed Genco doubled down on its rejection of Diana’s $23.50-per-share offer, calling it inadequate and …
https://splash247.com/genco-warns-shareholders-over-diana-proxy-push/
https://splash247.com/genco-warns-shareholders-over-diana-proxy-push/Satellite imagery is confirming severe damage to Russia’s prime energy exporting ports, as Ukraine’s Baltic bombardment campaign continues for an eighth day. Ust-Luga port was attacked for the third time last night in the space of just over a week, with Ukrainian drones mounting a massive campaign against Russian ports and refineries in the Baltic …
https://splash247.com/satellite-images-show-ukraine-strikes-cripple-russian-baltic-export-capacity/
https://splash247.com/satellite-images-show-ukraine-strikes-cripple-russian-baltic-export-capacity/Scorpio Tankers is continuing to cash in on firm secondhand prices, lining up the sale of two more MR product tankers as part of an ongoing fleet reshuffle. The New York-listed owner has agreed to sell the 2015-built, scrubber-fitted STI Brooklyn and STI Black Hawk for $35m each, with delivery expected in the second quarter …
https://splash247.com/scorpio-tankers-pockets-70m-from-fresh-mr-sales/
https://splash247.com/scorpio-tankers-pockets-70m-from-fresh-mr-sales/China Merchants Energy Shipping (CMES) has moved to further expand its crude tanker fleet, lining up 10 very large crude carriers (VLCCs) at Dalian Shipbuilding Industry Co (DSIC). The Shanghai-listed owner has placed the order through its Hong Kong-based subsidiary Associated Maritime Co, adding another large batch of tonnage to an already active newbuilding programme. …
https://splash247.com/china-merchants-energy-stacks-orderbook-with-10-ship-vlcc-series/
https://splash247.com/china-merchants-energy-stacks-orderbook-with-10-ship-vlcc-series/