Shell is pulling out of oil exploration off the coast of Alaska “for the foreseeable future”, after finding insufficient oil and gas quantities in one of its basins, and the impact of high costs associated with further exploration.
The Arctic, viewed by some as a burgeoning frontier for offshore energy - and, therefore, tanker shipping - has presented a study in contradictions for the Obama administration.
Shipbrokers Simpson Spence Young (SSY) are planning to boost their tanker business with the hiring of former Shell global VLCC manager Frank Twigg.
Shell has made a cash and shares offer worth GBP47bn ($69.8bn) to purchase BG Group at a 50% premium on its share price, an offer the BG board has recommended to its shareholders.
Members of Greenpeace have intercepted Shell’s 38,000 tonne Polar Pioneer oil rig en route to the Chukchi Sea in the Alaskan Arctic.
Shell has chartered an LNG-fuelled OSV from Harvey Gulf International Marine for operations in the Gulf of Mexico.
Wärtsilä's dual fuel engines will power Shell's specialised LNG bunkering vessel, due to be built by STX Offshore & Shipbuilding for deployment in Northern Europe.
Unipec topped the list of dirty tanker charterers in 2014, and was by far the largest hirer of VLCC tonnage, according to brokers Poten & Partners.
Teekay LNG Partners and Shell have signed charters ranging from six to eight years for five newbuild LNG carriers.