Munitions found near US pier

MILITARY investigators are looking into the underwater discovery of Second World War ammunition near a Seattle cruise pier, it was confirmed today.  The Navy, Army Corps of Engineers and Coast Guard are involved in the investigation at Terminal 91. Local press reports alleged that “live rounds...

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Asians make up most of the 435 captives held in Somalia

London: Figures gathered by the London-based International Chamber of Commerce’s Commercial Crimes Services show that while the total number of attacks has declined, the numbers of crew kidnapped and ships hijacked has not. [Read More] Source: Seatrade Asia Onl...

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First of the SA15 freighters sold for scrap

The Norilsk, the prototype vessel of the spectacular SA15 freighter, has been sold for recycling at Huangpu, China, for USD 415 per light ton, USD 4.49 million in total. The ship has 10,816 tons of steel. The Norilsk was delivered from Wärtsilä’s shipyard at Turku...

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Egholm II safely salvaged

On October 31 Danish JA Rederiet (Jens Alfastsen) carried out a successful salvage of the sunken ferry Egholm II. The ferry was removed from the sea bottom by the floating crane Sanne A and the ......... [Read More] Source: Ship...

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Heavy-Lift Reels Moved One Half at a Time

Louisiana-based Berard Transportation recently completed the transport of three of the heaviest reels manufactured by a Gulf Coast umbilical reel fabricator. These reels are used in offshore oil and gas exploration facilities. [Read More] Source: Break B...

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Tuna vessel opens fire: pirates back off

Here's more evidence that Somali pirates get the message when merchant vessels shoot back. Spanish broadcaster RTVE reports that on Sunday two pirate skiffs broke off their attack and fled after private security guards aboard the Basque tuna vessel Elai Alai fired...

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Pacific Basin Expects `High Pace' Bulk-Shipping Growth on China

Source: Reuters -  Pacific Basin Shipping Ltd., Hong Kong’s largest operator of dry-bulk vessels, said the market will continue expanding at a “relatively high pace” as growth in China and the rest of Asia stokes demand for steel. Consumption per capita of...

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India's GE Shipping sees steady dry bulk rates

Source: Reuters -   India's Great Eastern Shipping Co Ltd (GESC.BO) expects rates in the dry bulk segment to be steady in the near term though those in the tanker segment are seen under pressure, a senior official said on Monday. Click here to read m...

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Oil-Tanker Earnings Face Satellite-Tracking `Nuclear Winter,' Tufton Says

Source: Bloomberg -  Oil-tanker owners face a five-year “nuclear winter” of unprofitable charters as satellite vessel tracking weakens their bargaining power, said Tufton Oceanic Ltd., manager of the world’s largest shipping hedge fund. Oil companies have...

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Panamax market losing steam after week of gains, newbuilding orders going strong

Source: Hellenic Shipping News -  The dry bulk market began this week on a negative tone, with all shipping segments on the red, with Panamax in particular dropping the most, thus limiting last week’s gains. The Baltic Dry Index (BDI) was down yesterday at 2,648 points, a fall of 1.12 percent compared...

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Daewoo Ship, STX Offshore Lead Advances Among Korean Shipyards on Orders

Source: Bloomberg -  STX Offshore & Shipbuilding Co., the world’s fourth-largest shipyard, led advances among South Korean shipbuilders in Seoul trading on expectations that growing global trade will prompt more orders. STX Offshore gained as much as 8.5 percent to 28,650 won, the highest intraday...

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German Shipyard Completes Giant Cruiseliner for Disney

Source: Spiegel -  The biggest cruiseliner ever built in Germany, the Disney Dream, emerged from its dock in the Meyer Werft shipyard over the weekend, a 340 meters long, 16-deck giant for 4,000 passengers commissioned by the US Disney Cruise Line for family...

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India May Lift Curbs on Shipyards Bidding for Tankers

Source: Bloomberg -  India may lift restrictions on local shipbuilders bidding for state contracts to make container ships and oil tankers to help them compete with Korean and Chinese yards, an official with direct knowledge of the matter said. Click here to read m...

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Daewoo Shipbuilding wins $510 mln order from Chevron

Source: Reuters - Daewoo Shipbuilding and Marine Engineering (042660.KS: Quote), the world's second-largest shipbuilder, said on Tuesday it had won a $510 million order to build one offshore platform for Chevron Corp Click here to read m...

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Vietnam urged to probe '$4.3 bln' shipbuilding scandal

Source: AFP - Vietnamese lawmakers on Monday demanded answers in the case of state-run shipbuilding group Vinashin, which has been driven to the brink of bankruptcy ahead of a key Communist Party Congress. One deputy, Nguyen Minh Thuyet, called for a vote of no...

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Russia and France set up shipbuilding consortium

Source: Business Week - Russian and French shipbuilders have signed an agreement to set up a consortium to build military and civilian ships. lgor Ryabov, a spokesman for Russia's state-controlled United Shipbuilding Corporatio..... Click here to read m...

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Oil price hits six-month high of $83.4

Source: BBC - The price of oil has hit a six-month high after encouraging manufacturing data in the US and China boosted confidence in the global recovery. US light crude oil rose by $2 a barrel or 2.5%, to $83.45, while London Brent rose by $1.90 to $85.04 a...

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ExxonMobil makes gas condensate find off Nigeria

Source: AFP - ExxonMobil in Nigeria on Monday announced the discovery of rich gas condensate off the West African country's coast as the government seeks to boost gas supply to help solve electricity shortages. Mobil Producing Nigeria Unlimited, a local joint venture, announced "a rich gas condensate...

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Abu Dhabi seeks partners to develop Shah gas project

Source: Reuters - Abu Dhabi National Oil Company (ADNOC) is holding talks with one or more partners to develop the $10 billion Shah gas project after U.S. major ConocoPhillips (COP.N: Quote) withdrew, the head of an ADNOC unit said on Monday. Click here to read m...

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RAM Energy Resources Announces Agreement to Sell North Texas Gas Assets

Source: Press Release - RAM Energy Resources, Inc. (RAME 1.54, +0.11, +7.69%)  today announced it had signed a purchase and sale agreement effecting the strategic divestiture of RAM's North Texas Barnett Shale and Boonsville properties to a private E&P company for $43.75 million in cash, subject...

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Goodrich Petroleum To Sell Noncore Ops In Texas, La. For $70M

Source: Wall Street Journal - Goodrich Petroleum Corp. (GDP) plans to sell some reserves and production in east Texas and north Louisiana to an undisclosed private firm for about $70 million. The oil-and-gas explorer also expects to post a $23 million derivative-related gain for the third quarter as...

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Cosco wins US$87 mln contracts to build 3 bulk carriers

Source: The Business Time - Cosco Corporation (Singapore) said on Monday that Cosco (Dalian) Shipyard, the subsidiary of its 51 per cent owned subsidiary.......... Click here to read m...

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Abu Dhabi oil co. eyes $2 bln orders, overseas grow

Source: Reuters - National Petroleum Construction Co. (NPCC), controlled by the Abu Dhabi government, expects its order book to hit around $2 billion annually, its chief executive said on Monday. The oil company plans to expand to either Africa or the Caspian Sea region, where it will build a fabrication...

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Petropars Executive: Expect India To Finalize South Pars Deal By January

Source: JAWAY - Petropars, a unit of state-run National Iranian Oil Co., said Monday it expects to sign a deal with Indian companies next year for development of the Phase 12 of the South Pars gas field. Click here to read m...

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Shell to begin drilling China shalegas blocks by early 2011

Source: Reuters - Royal Dutch Shell (RDSa.L: Quote) expects to start drilling in two shale gas blocks in southwestern China at the end of this year or early 2011, a company official said on Monday. Click here to read m...

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Faroe Petroleum upbeat on mixed Anne Marie results

Source: Stockopedia - Oil and gas group Faroe Petroleum Plc (LON:FPM) reported this morning that hydrocarbons had been discovered in the Anne Marie exploration well in the Faroe Islands, although drilling had failed to hit the thick reservoir sands that had been...

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Japan's Inpex: Ichthys LNG Seeks Tender For Processing Facility

Source: Fox Business - Japan's Inpex Corp. (IPXHY) said Monday that it has invited tenders to build a processing facility at its Ichthys liquefied natural gas project, as well as confirming that a final investment decision for the multi-billion dollar venture remains on track for late next year. The...

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Senergy seals £10m deal with Centrica

Five year agreement for UK oil and gas operationsSource: Business7 - Senergy has signed an agreement with Centrica Energy Upstream which could be worth more than £10m.The five year deal covers services including subsurface consultancy, well engineering and well operations management across Centrica's...

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Ithaca Energy success in UK licensing round

Source: StockMarketWire.com - Ithaca Energy has been offered a new licence in the latest UK licensing round.The licence as operator for Block 29/10d expands Ithaca Energy's portfolio in the Greater Stella area.Click here to read m...

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Burleson Energy Limited Heintschel #1 Well Selling Gas And Condensate Post-Frac And Field Development Drilling Now Planned

Burleson Energy Limited (ASX:BUR) advises that the Heintschel #1 fracture stimulation (frac) has been successful, and the well has been flowing hydrocarbons to sales over the past 71+ hours. During this time the well has cleaned up significantly and the flow rates of both gas and condensate have increased...

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Adnoc to invest $60bn over 10 years

Source: Trade Arabia - Abu Dhabi National Oil Co (Adnoc) plans to spend $60 billion over the next 10 years in oil, gas and petrochemical projects, including increasing the emirates oil production, the firms chief executive has said. Click here to read m...

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Statoil eyes bid for UAE oil, gas concessions

Source: Forexyard - Norwegian oil firm Statoil aims to bid for oil concessions in the United Arab Emirates due to expire in 2014 as it targets more business in the country's energy industry, a senior executive told Reuters. "We're looking at gas and oil," said Kjetil Tonstad, regional vice president...

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TNK-BP cleared to buy BP's assets in Vietnam-source

Source: Reuters - Russia's energy minister signed a memorandum with Vietnam's government allowing Russian oil company TNK-BP to acquire BP's Vietnamese gas assets, a source close to TNK-BP told Reuters on Monday. The source said that Vietnamese state oil group Petrovietnam waived its option to...

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China, Russia oil pipeline starts trial operation

Source: Xinhua - Russia's crude oil started flowing into China through a pipeline linking Russia's far east to China's northeast as the two countries began testing the pipeline Monday evening.The crude oil will arrive at Mohe at 8 to 9 a.m. on Tuesday, the first of terminal of the pipeline in China,...

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Watchdog questions Statoil over safety backlog

Source: Reuters - Norwegian oil and gas firm Statoil (STL.OL: Quote) needs to answer a number of safety questions regarding its platform maintenance backlog off Norway, the petroleum safety watchdog said on Monday. "We have pointed out a number of things Statoil must answer for," said Magne Ognedal,...

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India calls for energy expansion as demand is set to soar

Source: The Economic Times - Prime Minister Manmohan Singh on Monday urged India's energy groups to expand overseas as he warned that the country's demand for fossil fuels was set to soar 40 percent over the next decade. India, a country of more than 1.1...

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Railcars Head for the Phillipines

Source: Break Bulk - Japanese freight forwarder Allfort oversaw the transport of 10 railcars from Kawasaki, Japan to Manila, Philippines, recently. Click here to read m...

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Hochtief and Beluga in offshore wind farm project

Source: Heavy Lift - Hochtief Construction has been awarded a contract for an offshore wind farm from the project company Global Tech I Offshore Wind, in which several energy suppliers, energy trading companies and a number of other companies are shareholders. Click here to read m...

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Rongsheng Heavy Seeks $2.3 Billion in Hong Kong IPO to Expand Shipbuilding

Source: Bloomberg - China Rongsheng Heavy Industries, China’s largest shipbuilder outside state control, is seeking $2.3 billion in what may be Hong Kong’s third-largest initial public offering this year, according to terms sent to investors. The company plans to sell 1.75 billion shares at HK$7.30...

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