France's Total keen on UAE Bab gas field development

Source: Reuters - French oil major Total plans to bid for the development of the United Arab Emirates' Bab gas field, a senior company executive said on Sunday. The UAE holds the world's seventh-largest gas reserves, at around 227.1 trillion cubic feet, according to BP statistics. Much of the UAE's...

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Pirates riddle U-Ming VLCC

Source: Safety at Sea - PIRATES have fired shots at a VLCC west of India, while a products tanker has been attacked while in a convoy in the Gulf of Aden.  The 317,970dwt Starlight Venture was attacked early today by armed pirates on two small vessels about...

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Yard workers occupy office

Source: Safety at Sea - SPANISH yard workers today stormed a Galicia regional government office in Vigo to underline the severe financial plight of the Vulcano shipyard.  About 100 workers entered the public building about 0900 to demand finance from regional...

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Operating costs set for moderate rise

Source: Tanker Operator - Crew costs will continue to rise particularly on the back of an undersupply of officers, a leading shipmanager predicted. This will impact primarily on specialist vessels, including some tanker types, said V Ships CEO Ship Management Capt Bob Bishop, speaking at the Moore...

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Shipping industry sees 'depressed' freight markets to remain in 2011

Source: MB.com.ph -  Global oil tanker and dry bulk freight markets will likely be ''depressed'' next year because of an oversupply of vessels and slow economic growth in developed countries, senior maritime executives said. The expansion of the world's fleet is expected to outpace global...

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WEEK43 - Dry Cargo Market "Highlights" 22-October-2010 until 29-October-2010

Source: Hellenic Shipping News - In contrast to last week, it was the Panamaxes that gave us a little green tint in what proved to be another red coloured downward moving dry bulk market. We had identified that the rates between Capes and Panamaxes were too...... Click here to read m...

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Feature: The good news for tanker owners?

Source: Bimco - Tanker owners must have thought the worst was over. With the global economy emerging from recession and upbeat GDP growth figures, they might for a while have believed that they would escape a double dip recession. In fact, tanker owners in most segments are only just understanding how...

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Steady as she goes! The heartstopping moment £1bn cruise liner squeezes under bridge... with just '1.5 inches' to spare

Source: Mail Online - It required a steady hand... and nerves of steel. Fortunately for the captain, the world's newest superliner squeezed under this Danish bridge with ease, even though there was just an inch-and-a-half margin of error.The Allure of the...

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Kobe Steel announces Q2 segment results

Source: Steel Guru - The sales volume of steel products (in terms of tonnes sold) increased in the first half of fiscal 2010 in comparison to the same period last year. Spurred by economic measures, demand was strong from domestic and overseas manufacturing industries. Sales prices were similar to the...

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Shipping Corp to buy seven new ships for Rs.2,942.78 crore

Source: Livemint.com - Shipping Corp. of India Ltd (SCI), India’s biggest ship owner by fleet size and revenue, will buy seven ships costing $661.3 million (Rs.2,942.78 crore) as part of a plan to expand capacity, two persons familiar with the plan said.The purchase will include four oil super tankers,...

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Yangfan wins Turkish order

Source: Seatrade Asia Online - China's privately-owned shipbuilder Yangfan Group won an order for four 57,000-dwt bulkers from Turkey's Ulusoy Denizyollari. Click here to read m...

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Spain releases Russian cargo ship

Source: Shipgaz - Maritime authorities in Spain have released the Russian-flagged cargo ship Vysokogorsk, detained for an alleged oil spill, on a EUR 150,000 bail, the news agency Voice of Russia reports. The alleged oil spill is reported to have taken place some 190 nautical miles off La Coruña. Click...

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Allure left the shipyard

Source: Shipgaz - Alllure of the Seas started her voayage towards Fort Lauderdale on October 29. Photo: Pär-Henrik Sjöström Click here to read m...

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Bill of lading

Source: The Economic Times - Despite these difficult times, when world shipping is passing through doldrums, numerous research reports and studies keep coming up from time to time. Till recently, the shipping world seemed to be smaller place and only a few, handpicked companies published the research...

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Today's container ships slower than the great clippers

Source: Classic Boat - Mighty container ships are now steaming so slowly to save money that they take longer to cross the oceans than sailing ships of 150 years ago. A report published this autumn estimates that most conatiner ships move more slowly on the great...

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Shipping container company goes public

Source: NorthJersey - A North Jersey shipping container company raised $95 million in the equity markets as it went public Thursday and began trading on the New York Stock Exchange. SeaCube Container Leasing Ltd. in Park Ridge is among the world’s largest lessors of shipping containers with more than...

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CMA CGM adds a new call at Rotterdam on its FAL5 service between Asia and North Europe

Source: Press Release - With the arrival of 13,800 teu-vessels in its fleet and in order to provide its customers with optimum services and unique port coverage, CMA CGM is pleased to announce the strengthening of its FAL5 (French Asia Line) service.This...

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Cosco's "big plans" for the port of Piraeus

Source: Hellenic Shipping News - Not more than a year back, the Port of Piraeus was plagued with an 18-strike that brought the country’s economy to a halt, seriously impacting ship agent companies and once more destroying the Mediterranean port’s reputation abroad. Today, it seems that a new wind is...

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U.S. natgas rig count climbs 2 to 967 - Baker Hughes

Source: Reuters - The number of rigs drilling for natural gas in the United States rose by two this week to 967, its first gain in three weeks, oil services firm Baker Hughes said on Friday. Horizontal rigs -- the type most often used to extract gas from shale -- climbed by 12 to 919, still shy...

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Ensco reaches deal on new rig in Gulf of Mexico

Source: Press Release - Ensco plc(ESV 46.34, -0.06, -0.13%) announced that a subsidiary of the Company has reached an agreement with Nexen Petroleum U.S.A. Inc., a subsidiary of Nexen Inc. (nyse & tse:NXY), regarding the drilling contract for ENSCO 8502, an...

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GE Oil & Gas Awarded $113M Contract for CLOV Offshore Angola

Source: Press Release - GE has been awarded a $113 million contract to supply gas turbines and compressors for deployment in the CLOV offshore Angola oil and gas fields owned by Sonangol, Angola's national oil company, and operated by Total (40 percent share),...

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Terra Seis Wins Lukoil Contract In Iraq

Source: The Wallstreet Journal - Russia's Lukoil OAO (LKOH.RS) said Friday it awarded a 3D seismic contract at Iraq's West Qurna Phase 2 oil field to Terra Seis Trading Ltd., Lukoil said in a statement seen by Dow Jones Newswires. Lukoil, however, didn't release the cost of the deal, but said...

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Circle Oil confirms further gas discovery in Sebou Permit, Morocco

Source: Energy Business Review - Oil and gas explorer Circle Oil has confirmed a further gas discovery at the CGD-11 exploration well in the Sebou Permit in Morocco in both the main Guebbas target and the secondary Hoot zone. The well first tested gas at a sustained rate of 7.07mmscf/d on a 30/64" choke...

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Agip says gunmen attack facilities in Nigeria's oil-rich Niger Delta

Source: Press Release - Two pipelines belonging to Italian oil firm Agip in the deep swamp of brass in Nigeria's oil-rich Niger Delta region have been attacked by unidentified gunmen, according to a company spokesperson. The company said the production affected...

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Lundin announces exploration well in PL400 spudded, offshore Norway

Source: Press Release - Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that drilling of exploration well 3/8-1 on the Barchan prospect has commenced. The well is located in licence PL400 in the Norwegian North Sea. PL400 is located some 12 km east of the Trym Discovery in the Southern...

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Full utilization of Polarcus

Source: Stock Link - Seismic Polarcus company is about to secure the entire fleet working out the first quarter of 2011. The company has signed two letters of intent for the acquisition of 3D seismic offshore South Africa. The agreements are at least 3,550 square...

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Dragon Oil announces the completion and initial testing of the Dzheitune (Lam) B/148 and 28/149 wells

Source: Press Release - Dragon Oil announces the completion and initial testing of the Dzheitune (Lam) B/148 and 28/149 wells. Dragon Oil plc, an international oil and gas exploration and production company, announces the completion and initial testing of the Dzheitune (Lam) B/148 and 28/149 development...

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Pemex: Crude Output Increase for 2011 on New Contracts

Source: Market News - Mexico's state-owned oil company Pemex Friday said it expects a "slight" increase in crude oil output next year as new performance-based contracts will be launched within weeks and the unconventional Chicontepec field will substantially increase output in 2011. Pemex officials...

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Chevron’s Q3 income drops 1.6%

Source: Whatistherend.net - According to San Ramon Oil Company, Chevron’s income for its third quarter dropped 1.6 percent, or $1.87 a share.The oil company said that the falling of Chevron’s income is due to the weakening of dollar and its growing expenses. Moreover,...

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Senators call for Keystone analysis

Source: Calgaryherald.com - A group of influential American senators on Friday aired a laundry list of concerns with TransCanada Corp.' s proposed Keystone XL pipeline they said would undermine the United States' clean energy goals and increase its reliance...

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Brazil's Libra oil field may be biggest in Americas since 1976

The Libra oil field in Brazil may be the biggest discovered in the Americas for more than 30 years, according to the country's industry regulator. Click here to read more at Telegraph.co...

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China: To pass tough time

Chairman Zhang Guangqin of China Association of the National Shipbuilding Industry (CANSI) expressed on Shiptec China 2010 that the tough time of ship industry hadn’t passed yet. During 2012 to 2013, the situation would become worse.  Click here to read more...

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Giant cruise liner handed over to buyer at Turku shipyard

The world’s largest cruise ship, the Allure of the Seas, was officially handed over by the STX Europe shipyard in Turku to the buyer Royal Caribbean International on Thursday evening.   The ship was to have set sail from Turku in the early hours of Friday morning, but a fault in the propeller...

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Northrop Grumman 3Q profit rises, boosts forecast

Defense contractor Northrop Grumman Corp. said on Wednesday that its third–quarter profit edged up on contributions from its aerospace, electronics and technology businesses, and boosted its earnings guidance for the year. Shipbuilding was the only operating segment where profit dropped in...

Posted on 10/30/2010 / 0 comments / Read More

Croatia: Government approves 17.5 million Euro guarantee for Rijeka´s shipyard

The Croatian government has approved a 17.5 million Euro guarantee for Rijeka’s '3. Maj' shipyard to finish the construction of four ships ordered by Swedish clients in June.The warranties were given to Zagreb Bank, Hrvatska Postanska banka and the Croatian Bank...

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Nigeria, Korea explore new fields of economic partnership, bilateral relations

When the director general, Nigerian Maritime Administration and Safety Agency (NIMASA), Temisan Omatseye, led a delegation of Nigerians to South Korea, the infrastructure gaps identified in the Nigerian maritime sector were huge. They include inadequate modern...

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Daewoo sale 'all ready'

Concerning the sale of Daewoo Shipbuilding & Marine Engineering, the Korea Development Bank president Min Yoo-sung said on Thursday, "The preparations are enough and we are now just selecting the right timing."  Click here to read more at Asiasis....

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Russia: Shipbuilding industry needs USD 12.8 bln in order to continue

The commercial shipbuilding industry is suffering from a dwindling fleet and scant domestic manufacturing, while needing USD 12.8 billion in investment over the next decade to keep the fishing fleet afloat, the government informed.At the first meeting ot the newly...

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Rig Report: Atwood Oceanics' CEO analyzes offshore rig trends

Focusing on both jackups and floaters, Atwood Oceanics (NYSE: ATW) CEO Rob Saltiel offers PennEnergy readers insight into emerging trends in the offshore drilling rig market. With nine existing rigs – four shallow-water, two midwater and three deepwater – Atwood...

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