Feb 7, 2011

Korean win 320 ships

The total of domestic major shipbuilders' new orders for last year came in at 320 ships of 8.16m CGT worth $19.1bn.
Based on the nine member companies of the Korea Shipbuilders' Association (Koshipa), 2010's overall new orders increased sharply by 3,795% in CGT and by 351% in values compared with the previous year.
[Read More]
Source: Asiasis
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Hyundai inks 9,300-teu sextet

Korea's Hyundai Heavy Industries has signed new contracts to build six containerships of 9,300 TEU with Germany's Bernhard Schulte and Israel's Ofer Brothers.
[Read More]
Source: Asiasis
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Japanese yards claim to have edge over rivals

Technological progress plays a much less dramatic role in shipbuilding than in electronics or carmaking, but Japanese yards still see innovation as offering a vital edge against Chinese and South Korean competition.
[Read More]
Source: Financial Times
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Japanese shipyards demand action on cheap won

Two Japanese shipbuilders have called for urgent government action to tackle what they say is the unfair advantage enjoyed by South Korean rivals from an artificially cheap currency.
[Read More]
Source: Financial Times
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VLOC for NS United

 A steel mill jv shipping firm has inked a contract with Imabari Shipbuilding for a VLOC. No price has been given for the 335,000 dwt ship NS United has ordered in Japan for 2014 delivery.
[Read More]
Source: Seatrade Asia
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Sumitomo snares Venezuelan aframaxes

Japan’s Sumitomo Heavy Industries has been given a newbuild order for a number of aframax tankers for Venezuela’s oil major, PDVSA.
[Read More]
Source: Seatrade Asia
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SUR calls on maritime unions not to send seafarers to piracy-infected areas

Seafarers’ Union of Russia (SUR) called on a number of maritime unions to ensure that seafarers are not send to work in the Gulf of Aden and off Somalia as long as the pirates groups are operating there, the SUR statement said. For its part the organization will continue its efforts to ensure by all means available that the Russian sailors will not be working in these areas.
The initiative of SUR was triggered by the murder of a Filipino seafarer on board of the Beluga Nomination, pirated on Jan. 22, 2011.
The union has sent a petition to support the initiative to the Association of Marine Officers and Seamen's Union of the Philippines, Federation of Trade Unions of Maritime Transport of Ukraine, Maritime Transport Workers' Union of Ukraine and the International Transport Workers Federation, as well as the company Marlow Navigation.
The SUR statement emphasizes that previously the Somalia pirates took the seafarers hostage, but did not kill them. So far, the seafarers’ deaths were unintentional. However, after the recent murder, "maritime piracy does not differ any more from terrorism," the statement said. The Russian union believes that combating piracy in international waters is the obligation of the states of shipowners, and the countries whose sailors are working on ships and are taken hostages. To stop the piracy it is not enough just to protect ships in the Gulf of Aden: it is urgent to destroy onshore terrorists’ bases.
"Maritime trade unions representing the interests of seafarers should demand from the UN and governments to take whatever measures they deem necessary to ensure the safety of seafarers in the Gulf of Aden and off Somalia," the statement said.
Source: PortNews
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Marine piracy losses hit a record $7b last year

Dubai: For the global shipping industry, which is still quite some distance away from a recovery following the global recession, losses from piracy reached an unwanted high during 2010.
[Read More]
Source: zawya
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NATO Issue Guidelines to Prevent Piracy

A new set of guidelines to prevent the threat of pirates attacking shipping transiting the Gulf of Aden, Somali Basin and the Indian Ocean, has been launched recently on the NATO Shipping Centre (NSC) website.
The products tanker Ardmore Seafarer (2004 / 45,744 dwt ) which was at sea 1,000 (nm) nautical miles off Somalia and some 500 nm off the coast of India, came under the attack of pirates last year.
[Read More]
Source: Aflot
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U.S. Begins Inquiry Into Impact of Slower Container Ship Speeds

The U.S. Federal Maritime Commission has started an inquiry into how slower container ship speeds are affecting freight rates and supply chains.
[Read More]
Source: Bloomberg
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Shipping lines see steady Transpacific growth

Cargo demand will continue to improve during 2011 as the U.S. economy recovers, roughly in line with new vessel capacity entering the Asia-U.S. trade lane over that period. With a traditional third quarter peak season now considered likely, container lines in the Transpacific Stabilization Agreement (TSA) say that additional ships now being delivered will ultimately be needed and well-utilized.
[Read More]
Source: Transport Weekly
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Marcoullis: Cyprus among top ten international fleets

Cyprus ranks among the top ten international fleets on the list of leading maritime nations and the country’s registry has shown phenomenal growth in the past thirty years, Minister of Communications and Works, Erato Kozakou-Marcoullis, stressed at the annual dinner of the «The Institute of Chartered Shipbrokers – Cyprus Branch», in the southern coastal town of Limassol.
[Read More]
Source: Financial Mirror
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Dry bulk: Is the tide turning?

In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) posted its first rise since the middle of January,inching forwards by a mere 0.19% to 1,045 points. The main reason for this development was the rapid recovery of the Panamax market segment, with the relative Panamax Index rising by 3.49%. By contrast, sentiment in the Capesize front was still negative, moving down by 1.39%, which means that average capesize earnings are back again to lower grounds, compared to their smaller counterparts (Panamaxes).
[Read More]
Source: Hellenic Shipping News
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Pacific Northern to sell stake in Pacific Trail Pipelines

The largest shareholder in the proposed Kitimat natural gas pipeline project announced Monday that it is selling its 50 per cent interest in the project to its two other partners for $50 million.
Pacific Northern Gas Ltd., of Vancouver, says the sale to partners Apache Canada and EOG Canada, brings the pipeline project under control of Apache and EOG, both headquartered in the United States.
[Read more]
Source: The Vancouver Sun
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Chesapeake Energy plans to sell its Fayetteville Shale acreage, assets for $5B

Chesapeake Energy Corporation has decided to sell all of its Fayetteville Shale assets, as well as its equity investments in Frac Tech Holdings, LLC and Chaparral Energy Inc., as a part of the company’s 2011-2012 “25/25 Plan.” 
If these sales are completed, Chesapeake anticipates that the combined pre-tax proceeds could exceed $5.0 billion. 
[Read more]
Source: Penn Energy 
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Newfield Exploration Announces 2011 Capital Investment Program, Production Growth Forecast of 8-12% Within Cash Flow

Newfield Exploration Company today announced its 2011 capital investment program and expectations for production growth. In addition, Newfield disclosed initial drilling results from a new oil resource play, located in the Arkoma Basin's Woodford Shale play in Oklahoma.
Newfield plans to invest approximately $1.7 billion in 2011. The planned budget excludes capitalized interest and overhead of approximately $170 million. This budget approximates the Company's estimate of 2011 cash flow from operations. Approximately two-thirds of the 2011 budget will be allocated to oil projects and substantially all of the remainder is planned for "liquids rich" gas plays.
For 2011, Newfield expects that its production will be 312 – 323 Bcfe, up 8 –12% over 2010. Domestic oil production is expected to increase about 50% in 2011. Natural gas production is expected to remain flat in 2011, despite a significant reduction in natural gas investments.
"We are committed to living within our means," said Lee K. Boothby, Chairman, President and CEO. "Since the beginning of 2009, we have funded our capital expenditures within cash flow, including a large portion of our acquisitions along the way. We have proved the merits of a diversified asset portfolio and are making improved capital allocation decisions throughout the Company. With our continuing view that natural gas prices will remain challenged in 2011, we are directing our investments to oil plays that deliver premium returns."
Source: Press release

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Husky upgrader running at reduced rates after fire

Husky Energy Inc's Western Canadian heavy-oil upgrading plant is running at reduced rates following a small fire at the facility, a spokesman said on Monday.
The 82,000 barrel a day plant at Lloydminster, on the Alberta-Saskatchewan border, did not suffer extensive damage in the Feb. 2 blaze, but it is not known how long repairs will take, Husky's Graham White said.
[Read more]
Source: Reuters
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DEME and MEDCO to Build Two Artificial Energy Islands for SARB Oil Field in U.A.E

Dredging International and MEDCO, have been awarded a contract for mixed dredging and civil engineering works to construct two artificial energy islands, including their service harbours, aimed to provide Abu Dhabi with energy based on facilities for oil drilling, etc. from the previously untapped offshore Satah al-Razboot (SARB) field. Dredging International is part of the Belgian dredging, environmental and hydraulic engineering Group DEME.
[Read more]
Source:  Dredging Today
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2H Offshore Awarded Big Foot Riser Systems Contract by Chevron


2H Offshore, an Acteon company, has been awarded a contract by Chevron USA Inc. for the detailed design and delivery management of the riser systems for its Big Foot field development.
The Big Foot field is owned by Chevron USA Inc. (operator) and other working interest owners, including but not limited to Statoil Gulf of Mexico LLC. 
[Read more]
Source: Offshore Energy Today
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Petrobras Ends Talks to Buy Stake in Galp

Petrobras, the state-controlled Brazilian oil giant, said on Monday that it had broken off talks with the Italian energy company Eni about buying a stake in Galp Energia.
The company said in a brief filing with the Securities and Exchange Commission that it had “decided to terminate negotiations with ENI S.p.A. and that no interest in Galp Energia has been acquired.”
[Read more]
Source: New Your Times

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Ensco plc to Acquire Pride International, Inc.

Ensco plc and Pride International, Inc. jointly announced today that they have entered into a definitive merger agreement under which Ensco will combine with Pride in a cash and stock transaction valued at $41.60 per share based on Ensco’s closing share price on 4 February 2011. The implied offer price represents a premium of 21% to Pride’s closing share price as of the same date and a premium of 25% to the one month volume weighted average closing price of Pride. The definitive merger agreement was unanimously approved by each company’s board of directors. 
[Read more]
Source: Your Oil and Gas News
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BowLeven says Cameroon well hits oil and condensate in the cretaceous

West African explorer BowLeven revealed today its Sapele-1 well in the Douala Basin off the coast of Cameroon has confirmed the presence of oil, condensate and gas at the cretaceous level.
Source: Proactive Investors
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Anadarko makes fourth major discovery offshore Mozambique with Tubarao

Its fourth major natural gas discovery offshore Mozambique, US independent Anadarko Petroleum Corporation reported that its Tubarao exploration well discovered more than 110 net feet (34 meters) of natural gas pay in the Offshore Area 1 of the Rovuma Basin.
The Tubarao discovery well transected natural gas in a high-quality Eocene-age reservoir that is separate and distinct from the three previous discoveries on the block.
[Read more]
Source: Penn Energy
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Subsea 7 awarded $75 million North Sea Contract by Conocophillips

Subsea 7 S.A. announced today the award of a SURF contract valued at approximately $75 million from ConocoPhillips Skandinavia AS, acting as Technical Service Provider on behalf of the operator Gassco, in the German Sector of the North Sea.
[Read more]
Source: Offshore Energy Today
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Thai PTTEP in talks with Petronas on JDA fiel

Thailand's PTT Exploration and Production Pcl  said on Monday it was in talks with Malaysia's Petronas  about exploring for more gas at the Malaysia-Thai Joint Developping Area (JDA) in the Gulf of Thailand.
The move is aimed at meeting rising natural gas demand in Thailand and reducing dependence on oil imports after a surge in crude oil prices, Chief Executive Anon Sirisaengtaksin told reporters.
[Read more]
Source: Reuters
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AMEC announces agreement to acquire Australian engineering consultancy Zektingroup

AMEC, the international engineering and project management company, announces today that it has entered into an agreement to acquire Zektingroup (Zektin), an Australian-based specialist engineering consultancy for the oil and gas and resources industries, from its owner-managers. Closing is anticipated later in February.
[Read more]
Source: Your Oil and Gas News
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Providence Resources, Shell To Negotiate Oil Off Take Agreement

Providence Resources Plc confirmed that it has signed a Memorandum of Agreement with Shell International Trading and Shipping Co. Ltd.
According to Providence, the Memorandum of Agreement was signed to negotiate an oil off take sale and purchase agreement relating to future potential oil production from its Barryroe and Hook Head oil discoveries, located in the North Celtic Sea Basin off the south coast of Ireland.
Source: RTT News
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Statoil lines up well on Spinell Sør

Petroleum Safety Authority Norway has approved two new drilling programs in the Norwegian Sea.
Statoil Petroleum is authorized to drill exploration well 6407/4-2 on the prospect in license PL 429, using the semisub Transocean Leader. The location is 146 km (90.7 mi) from Stokkøya in Sør-Trøndelag district. 
Drilling operations, due to start this month, should last around 61 days.
[Read more]
Source: Offshore Magazine
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Petrobras Prepares to Start Drilling on Maruja Prospect Offshore Brazil

Maruja Field Appraisal Karoon advises that the semi-submersible ‘the Diamond Offshore Ocean Yorktown(photo) semisubmersible drilling rig’ has now moved onto location and is preparing to commence drilling on the Maruja-2 appraisal well.
[Read more]
Source: Offshore Energy Today

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Japan's Inpex to invest in 4 U.S. Gulf oil blocks

Japan's top oil and gas developer, Inpex Corp, said it received U.S. government approval to buy a 15 percent stake in each of four oilfields in the Gulf of Mexico from a subsidiary of Royal Dutch Shell.
The Walker Ridge 95, 96, 139 and 140 blocks are located about 280 kilometres off the coast of New Orleans, Louisiana, and cover an area of 87 square kilometres, with a water depth at about 1,800 metres, Inpex said in a statement.
[Read more]
Source: Forex Yard
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Malaysia Marine orderbook seen positive

Malaysia Marine and Heavy Engineering (MMHE) Holdings Bhd's orderbook is expected to be positive, with contracts from Petronas' floating liquefied natural gas vessel, says ECM Libra Investment Research. 
MMHE, a shipbuilding company, is likely to team up with Technip SA for the hull design of the contract. 
[Read more]
Source: Business Times
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Expro wins $8million well testing contract in Holland

Expro has been awarded a well testing contract in Holland worth around $8million (£5million).
Total E&P Nederland B.V. has awarded Expro a three-year well testing contract for operations in the Dutch sector of the North Sea. The contract has two one-year extension options.
[Read more]
Source: Scandinavian Oil and Gas Magazine
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Output up at Shah Deniz gas and condensate field

Azerbaijan's Shah Deniz offshore gas condensate field produced 1.848m tonnes of condensate in 2010, 10.2% more than in 2009.
[Read more]
Source: Trend
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IHC to promote its Engineering Solutions at Subsea 11, Aberdeen

IHC Engineering Business (IHC EB), a part of IHC Merwede, will be showcasing a range of their bespoke engineering solutions at the forthcoming SUBSEA 11, on 9-10 February 2011, Aberdeen at stand number B14.
[Read More]
Source: Dredging Today

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Agencies getting tough with ship ballast dumping

After decades of delay, government officials are beginning to crack down on cargo ships that allow foreign invasive species to hitchhike to U.S. waters, where they have turned ecosystems upside down and caused billions of dollars in economic losses.
[Read More]
Source:AP
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How Important Is the Suez Canal to the US and Europe?

Much is being talked these days about Egypt and some about the Suez Canal. We have all heard about this old strip of water, which connects the Indian Ocean to the Mediterranean via the Red Sea.
[Read More]
Source:Minyanville
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First China built tug to Svitzer Scandinavia

The China built tug Svitzer Tyr is now in operation in Scandinavia after a long delivery voyage from Qingdao.
[Read More]
Source:Shipgaz
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Fake Distress

On Friday, February 4th, the Japanese harpoon vessel the Yushin Maru No. 3 issued a Mayday distress signal from the Ross Sea (71 degrees 58 minutes south and 176 degrees 48 minutes east).
[Read More]
Source:Ship Talk
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Standby For Action

The United Nations announced its action plan to combat piracy off the Somali coast, calling for greater support from national navies to fight a “global menace” that threatens not only international trade but the world body’s delivery of vital food aid to millions of hungry people.
[Read More]
Source:Ship Talk
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Indian Navy captures 28 Somali pirates near Lakshadweep islands

In a major coordinated operation, the Indian Navy and the Coast Guard personnel apprehended a pirate mother ship Prantlaya 11 along with 28 Somali pirates in the Arabian Sea.
[Read More]
Source:sify news
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One of four bullets from injured captain shot by S. Korean Navy

One of the four bullets removed from the injured South Korean captain of a chemical freighter hijacked by Somalis last month was shot by South Korean Navy commandos during their raid on the ship in the Arabian Sea, the South Korean Coast Guard said Monday, wrapping up a probe on five captured Somali pirates.
[Read More]
Source: Yonhap News
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S.Korean shipbuilding industry under massive restructuring

South Korea's shipbuilding industry has been under massive restructuring since 2006 as global shipbuilders are undergoing one of the biggest structural changes in their history.
[Read More]
Source: Xinhua
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Dockwise Selects Hyundai as Yard for its new “Type 0” Super Vessel

Breda, The Netherlands, February 7, 2011 Following the Board’s decision, announced in November 2010, to commission a new build vessel to service the emerging market for ultra-large transports, Dockwise has appointed Hyundai Heavy Industries (HHI) of Korea as its ship building yard. HHI is scheduled to deliver the vessel during the last quarter of 2012, following sea trials, when it is intended to undertake its initial commercial voyage. 
The new vessel has been categorized a “Type 0” (T-0) to reflect its exceptional size. Hitherto, the largest class of vessel has been Type 1 with cargo capabilities between 41,000 and 73,000 tons and of which Dockwise, as only provider in the market, already has two in service. With an overall deck size of 275 x 70 meters, and a revolutionary bowless design, the new vessel will have a carrying capacity of more than 110,000 tons. It will be the first of its kind in service in the maritime transport industry, and will add a unique capability to the Dockwise fleet, maintaining its leadership position at the top of the market.
The specification of the T-0 is subject to further detailed design engineering, as Dockwise consults with clients and HHI offshore division engaged in fabricating the next generation of modular units. HHI’s flexibility in new build design, together with its track record of on-schedule delivery and budget discipline, were key deciding factors in the award of the contract. The total cost of the vessel including all project and design costs, is expected to be approximately USD 240 million, with installments of approximately 45% in 2011 and 55% in 2012. The investment is fully financed by the successful rights issue and revolver debt facility Dockwise completed end 2010. 
André Goedée, Chief Executive, Dockwise, said:
“We have been particularly encouraged by clients’ reactions since we announced this investment decision. It is our expectation, based on latest discussions with clients, that we will surpass our initial revenue assumptions for the first year of operations. Clients have grasped the game changing potential of the vessel and have made a valuable contribution to our thinking around the detailed design.
Hyundai is the partner of choice for our new build vessel, designed to transport the next generation of ultra-size units. Hyundai’s performance-to-budget and delivery records provide the reassurance we seek that the vessel will be available at the agreed loading date for its first assignment.” 
C.J. Kang, executive vice president and COO of Hyundai Heavy Industries, said:
“As EPIC contractor for offshore projects, we agree strongly with Dockwise that there is a rapidly emerging need for a vessel of this capacity, given the scale growth of offshore projects. The benefits for our ultimate clients of dry transports of integrated structures and of large FPSOs are clearly apparent to yards and offshore services firms focused on the future evolution of our markets.
As a top class offshore construction yard we are proud that Dockwise has chosen HHI for the construction and timely delivery of this vessel.”
Source: Press release
Posted on 2/07/2011 / 0 comments / Read More
 
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