• 2017 July 15 10:46

    Shell to divest upstream interests in Ireland for up to $1.23 billion

    The transaction includes an initial consideration of $947m (€830m) and additional payments of up to $285m (€250m) between 2018-2025, subject to gas price and production. The transaction, which represents Shell’s exit from the upstream business in Ireland, is subject to partner and regulatory consents and is expected to complete in Q2, 2018. The transaction’s effective date is January 1, 2017, Shell said in a press release.

    The Shell share of the Corrib gas venture’s production represented approximately 27,000 barrels of oil equivalent/day in 2016.

    Shell Energy Europe Limited ("SEEL") has signed an offtake agreement for some 40% of the Corrib gas venture’s production for up to three years following completion.

    CPPIB will be the new Corrib Gas JV partner and Vermilion will become the new operator of the Corrib Gas Venture.

    “This transaction is part of our strategy to reshape Shell and to deliver a world class investment case,” said Shell’s Upstream Director, Andy Brown. “It demonstrates the strong momentum behind our three-year $30 billion divestment programme. At the half-way point, we have now announced deals valued at more than $20 billion.”

    “This transaction is consistent with Shell’s strategy to concentrate our Upstream footprint where we can add most value. I’m confident that Corrib will continue to deliver energy successfully to the people and businesses of Ireland.”

    Ronan Deasy, Shell’s Country Chair in Ireland, said, “Shell is very proud to have led the development of the Corrib gas field. Since coming on-stream, the field and facilities have delivered exceptional performance. I would like to pay tribute to all those who have contributed to the development of this important energy project. In particular, I wish to acknowledge our staff, stakeholders and the local community who have worked closely with us over the years.

    “With our existing staff remaining with the asset - CPPIB as a partner; and Vermilion, as the operator, will be well placed to successfully own and manage Corrib.”

    The transaction will result in an impairment charge of around US$350m, which will be taken in Q2, 2017. At completion, a negative non-cash Cumulative Currency Translation Difference of around US$400m will be released.

    Shell will retain a presence in Ireland through its aviation joint venture, Shell and Topaz Aviation Ireland Limited based near Dublin airport.




2018 April 24

09:17 Baltic Dry Index up to 1,306 points
09:08 Compensation regime for Hazardous and Noxious Cargoes a step closer - IMO
08:48 City of Antwerp and Antwerp Port Authority start urban mission to Moscow and St. Petersburg

2018 April 23

18:06 World’s largest short sea Ro-Ro vessel MV Celine christened at Dublin Port
17:52 Digital Ship’s Maritime Big Data Forum will be held on 29 May 2018 in Oslo
17:36 Ocean Rig announces agreement to postpone delivery of newbuilding drillship Ocean Rig Santorini
17:20 Construction of Bagayevsky hydrosystem begins in Rostov Region (photo)
17:05 ITF urges Hutchison Ports to improve global health and safety operations
16:35 Polskie LNG conduct a technical dialogue on extension of LNG Terminal in Świnoujście
16:29 Rosmorport’s icebreakers assisted over 5,700 vessels in freezing seaports of Russia this winter navigation season
16:05 Hapag-Lloyd plans 20 percent reduction in CO2 emissions by 2020
15:55 Azerbaijan Caspian Shipping Company to provide additional scholarships for students
15:33 TransContainer’s net profit in QI’2018 increased by 19.5% Y-o-Y to RUB 1.479 million
15:04 M.v. Tucana delivers fibre optic cable baskets from Drammen (Norway)
14:47 Port of Gdansk (Poland) throughput up 44% to 12.7 million tonnes in January-March 2018
14:31 Average wholesale prices for М-100 HFO in RF spot market up to RUB 13,542 per tonne
14:10 ICTSI PNG units ink union agreements
13:59 MOL сrude oil tanker rescues a castaway in the South China Sea
13:39 Container barge transport to become more efficient in the port of Antwerp
12:48 Cargo transportation by Ukraine’s water transport fell by 7.3% to 0.7 million tonnes in 3M’18
11:46 Vistula Maersk makes a maiden call to St. Petersburg, as first in series of new ice-class vessels
11:13 2 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on April 22-23
10:51 Training ship Perekop completes unofficial visit to Republic of Sri Lanka
10:25 Brent Crude futures price down 0.04% to $74.03, Light Sweet Crude – down 0.13% to $68.31
10:04 Workshop on IMO's ISPS Code held in Mexico
09:40 Training on ship air pollution and low carbon measures held in Tehran
09:17 Baltic Dry Index up to 1,281 points

2018 April 22

15:33 Port of Rotterdam Authority to realise tide pools along Calandkanaal
15:32 British Ports Association raise border facilities' concerns with PM
15:31 Hapag-Lloyd to revise the Fuel Surcharge for Inland Haulage under Carrier arrangement from Germany to Belgium and Netherlands
15:30 JAXPORT names Interim Chief Financial Officer
15:28 Seaspan announces senior management change

2018 April 21

15:06 MV Thuringia makes maiden CI3 service call at Chennai International Terminals
15:04 Diana Shipping announces time charter contract for m/v Arethusa with Glencore
15:00 Gothenburg Port Authority publishes Sustainability Report for 2017
14:47 Wärtsilä welcomes global shipping’s agreement to cut greenhouse gas emissions
14:45 Vopak to invest in new storage capacity at its Rotterdam terminal

2018 April 20

18:15 Yaroslavsky Shipyard launches yet another boom-laying boat (photo)
18:03 CMA CGM announces FAK rates from Asia to Middle East Gulf
17:47 President of Cyprus visits IMO
17:29 NOVATEK’s AGM approves 2017 dividends
17:03 SEA\LNG reiterates LNG’s central role in meeting IMO’s decarbonisation goals
16:40 SCF Group’s financing deal with VTB Bank recognized by Marine Money as a Deal of The Year
16:03 CMA CGM announces an agreement to acquire a stake in CEVA
15:36 Nuclear-powered submarine Severodvinsk passed control check for winter training period
15:03 MEPC 72: Proposal to mandate ISO sulphur test methods to be discussed further
14:40 Krasnoye Sormovo shipyard launches Russia’s first dry cargo carrier of Project RSD59 (photo)
14:24 HELCOM group meets in Berlin to focus on reducing land-based pollution affecting the Baltic Sea
13:38 WMU supports IMO climate change strategy for shipping
13:02 Panama Canal transits three LNG vessels in one day
12:43 Konecranes Gottwald Mobile Harbor Crane to handle bulk materials in Rotterdam
11:49 2 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on April 19-20
11:26 "Safety Day" held for Azerbaijan Caspian Shipping Company management
11:02 Navigation on rivers and canals of Saint-Petersburg opens from April 20
10:38 Azerbaijan Caspian Shipping Company and Russian Maritime Register of Shipping discuss cooperation
10:13 Brent Crude futures price down 0.26% to $73.59, Light Sweet Crude – down 0.31% to $68.08
09:55 Marine Technics supplied a set of engines to refit gensets of vessels operating on the Yenisei river
09:34 Bunker prices are going up at the Port of Saint-Petersburg, Russia (graph)
09:16 Baltic Dry Index up to 1,201 points
08:07 Chairman of IACS pinpoints three key themes of the Association's strategy for the future