Reduced CO2 bulker design launched

Computer generated image of  Mitsui’s new bulk carrier design Mitsui Engineering & Shipbuilding (MES) has developed a 66,000 dwt geared bulk carrier named ‘neo Supramax 66BC’ as the first type of ship developed to reduce CO2 emission by 30%. [Read...

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Ship emissions portal to aid ports

A new web-based tool to benchmark ship emissions has been launched to help ports improve their environmental standing. The Environmental Ship Index (ESI) portal asks ports to lay out their incentives for ships with lower air emissions, while asking ship owners...

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Filipino crewmen outsmart Somali pirates

GMANILA, Philippines—The Department of Foreign Affairs has commended eight Filipino seafarers and eight other crew members of the M/V Beluga Fortune, a German-owned cargo ship, for outsmarting Somali pirates and successfully evading capture by the marauders near the Gulf of Aden. [Read More] Source:...

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Goldenport Holdings Inc. announcs Acquisition of One Sub-Panamax Container Vesse

Goldenport Holdings Inc. announcs Acquisition of One Sub-Panamax Container Vessel Goldenport Holdings Inc., the international shipping company that owns and operates a fleet of container and dry bulk vessels announces that it has agreed to acquire the sub-panamax...

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Dry bulk market lacking support to sustain current levels, but Panamax owners are more fortunate

Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 points, as the market doesn’t seem able to find the necessary support to stay afloat. The Capesize segment of the market...

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Two shipyard LCS award no big problem for Congress

Greenbay, Wis., TV station NBC26 reports Senator Herb Kohl (D.Wis) as saying today that it won't take additional funding - just approval by Congress to change the contract-awarding process - for the Navy to offer two contracts at once for construction of the Littoral Combat Ship (LCS). [Read More] Source:...

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YoungBin Cho, General Manager of Dassault Systèmes Korea, Honored for Attracting Foreign Investment

Honored With the Commendation of Prime Minister for His Contribution in Fostering Local 3D Convergence Industry, Nurturing Talents and Economic Development in Korea. [Read More] Source: Cad Cam N...

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New officials for trouble shipbuilding group

Chairman and General Director of the Vietnam Shipbuilding Industry Group (Vinashin) has appointed four key Vinashin officials.   They consist of Pham Thanh Son as  Deputy General Director, Tran Duc Chinh as Chief Accountant cum Chief of Finance and Accounting Department, Bui Thanh Binh...

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Norway Oil-Licensing Round Applications Drop 20%

Norway, the world’s seventh-biggest oil exporter, said 37 companies applied in the country’s 21st oil and gas licensing round, a decline of 20 percent from the previous round.  Companies including Statoil ASA, Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp. and ConocoPhillips were among...

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U.S. offers help for Papua New Guinea LNG

PORT MORESBY, Papua New Guinea, Nov. 4 (UPI) -- Papua New Guinea could become a poorer nation if proceeds from its liquefied natural gas project aren't managed properly, U.S. Secretary of State Hillary Clinton said Wednesday in the capital city of Port Moresby. [Read more] Source: UP...

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Gabon Cancels 10th Oil-Bid Round, May Hold Talks 2011

Gabon canceled its 10th oil and gas licensing round and will enter into direct consultations with interested parties, a process that could start in the first quarter of next year, the country’s petroleum minister said.  Gabon hasn’t entered into any talks for 42 blocks originally in the 10th round,...

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Suncor Energy up nearly 9 percent on 3Q results

Suncor Energy Inc.'s third-quarter earnings topped $1 billion, thanks to gains on asset sales and strong performance by its oilsands operations in northern Alberta. Canada's largest oil and gas company said Thursday it earned 1.022 billion Canadian ($1.019 billion), up from 929 million Canadian a year...

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Canadian Natural Resources profit beats estimates

Canadian Natural Resources Ltd (CNQ.TO: Quote), reported a higher than expected third-quarter profit on Thursday and said it has launched the first C$1.25 billion ($1.25 billion) phase of its Kirby oil sands project. [Read more] Source: Reuters Afr...

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Big day for Apache Corp with huge 3Q profits and BP asset acquisition

Apache Corp announces a 74 percent spike in quarterly profits, the same day it finalizes the acquisition of BP assets in Egypt. The same day Apache Corporation, the largest U.S. independent oil and gas producer, announces a 74 percent quarterly profit, the company finalizes its acquisition of BP Assets...

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BNK PETROLEUM INC. REPORTS THIRD QUARTER 2010 RESULTS

"Excellent progress has been made on our European concessions during the quarter. Six 2D seismic lines were acquired and interpreted on our Baltic Basin Project. The seismic lines were acquired to avoid encountering faults in our test wells so that all targeted intervals can be properly evaluated. Tendering...

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WorleyParsons secures two gas deals

WORLEYPARSONS says it has been awarded contracts relating to two large offshore gas projects. Energy giant ConocoPhillips awarded the Sydney-based engineering firm a contract to provide detailed design and procurement services for parts of its Jasmine joint venture in the North Sea, WorleyParsons said...

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Cove Energy to raise £110m

ENERGY  DAVID HELLIER  COVE Energy, the AIM-listed energy group, yesterday said it was raising £110m via a placing of 145m new shares at 76p each. The placing price is at a 4.1 per cent discount to the last closing price. The net proceeds of the placing, together with Cove’s existing cash...

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Sembcorp Marine doubles Q3 net profit

SINGAPORE - Sembcorp Marine yesterday reported its third-quarter net profit doubled from the corresponding period a year earlier after the rig builder reached a settlement with Societe Generale on disputed foreign exchange transactions. The company was also upbeat on its prospects, saying with the recent...

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Scottish oil giant Cairn quits Bangladesh

CAIRN Energy yesterday announced its final withdrawal from Bangladesh - the country where discoveries in the 1990s helped its transformation into one of the UK's biggest companies - as the Edinburgh group continues its search for black gold in Greenland. [Read more]Source: The Scots...

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UK company begins extraction of gas off Bulgaria

SOFIA, Bulgaria British company Melrose Resources has started commercial production of natural gas from two Black Sea fields off the cost of Bulgaria. A company statement Thursday said the combined field reserves total 74 billion cubic feet while the production rate is expected at 45 million cubic feet...

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Hornbeck Offshore revenues get boost from GoM response activities

Hornbeck Offshore Services, Inc. (NYSE:HOS) results for the third quarter ended September 30, 2010 got a boost from its efforts in the Deepwater Horizon incident response. But as these efforts are wrapped up, Hornbeck is looking to stack some of the vessels involved. Third quarter revenues showed a...

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Oil giants eye onshore blocks in Oman-official

MUSCAT Nov 4 (Reuters) - France's Total (TOTF.PA: Quote), Britain's BP (BP.L: Quote) and Portugal's Partex (PETR4.SA: Quote) are among the bidders to develop three onshore blocks in Oman, an official said on Thursday. "We have had a lot of interests from oil majors to sign two year exploration agreements....

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