SCI to purchase 62 new vessels in 11th Plan

As per the 11th Plan vessel acquisition programme, SCI has planned for acquisition of 62 vessels out of which till date SCI has been able to order 29 vessels including 3 vessels that have been delivered to SCI. [Read More] Source: I...

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One dead as China cargo ship missing off Japan

A cargo ship with 25 Chinese crew on board has gone missing off Japan's southern islands, with one crew member found dead and three survivors rescued by Japan's coastguard, officials said Thursday [Read More] Source: ...

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Oil-polluting ship's captain faces possible 2011 trial

The captain of a cargo ship, the Pacific Adventurer, blamed for one of Queensland's worst oil spills is likely to face trial in the new year. [Read More] Source: ABC N...

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Clarksons confident of continued progress

Clarksons, the world’s leading integrated shipping services group, yesterday announces its Interim Management Statement published in accordance with the UK Listing Authority's Disclosure and Transparency Rules, for the period from 1 July 2010 to 9 November 2010 Trading The trading performance outlined...

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Newbuilding ordering, second ships purchasing begin to cool off

As we slowly approach towards the end of the year, ship owners in both the dry and wet parts of the shipping industry begin to slowdown the rate of their investments in terms of fleet growth. After a year of pretty healthy levels of investment activity, it’s pretty clear to everyone that low prices...

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India opens Naval Shipbuilding to private players

The private shipyards will now get a fighting chance to bag Naval warships. Indian Defence Minister AK Antony has cautioning the PSUs to prepare for “more competition” from the private Indian entities. Under its new policies, the Ministry will stop nominating government-owned companies in the Naval...

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Statoil Halts Drilling at Gullfaks Field to Review Procedures

Statoil ASA, Norway’s largest oil and natural gas company, said it halted drilling and well operations at its Gullfaks field in the North Sea to carry out an “additional review.” Production is continuing as normal, it said. The company will review its routines...

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PetroChina, Shell ink joint projects

PetroChina Co and Royal Dutch Shell have agreed to jointly work on an oil and gas project in Canada and a coalbed methane block in north China, the Chinese company said on Wednesday.  The two oil giants signed a Memorandum of Understanding for the project in Canada. The two companies also signed...

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JAPAN'S IHI TO EXPORT SHIPBUILDING TECH TO EMERGING MARKETS

IHI Corp. (TSE:7013) has developed a system that automates the key process of bending steel sheets for ships and plans to market it to emerging economies. Developed by shipbuilding subsidiary IHI Marine United Inc., the system handles the entire process, from transporting steel sheets to processing,...

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AusTex Oil Limited To Seek Toronto Stock Exchange Listing

AusTex Oil Limited, is pleased to announce that it is seeking a dual listing on the Toronto Stock Exchange (TSX) during the first half of 2011.The Directors believe a dual listing on the TSX is an important step to raise the profile of the Company while being...

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China's energy demand to leap 75%

CHINA will drive a surge in world energy demand over the next quarter century, as straining supply enhances OPEC's oil market share and growing coal use undermines efforts to contain global warming. In its annual world energy outlook, the International Energy Agency forecasts Chinese demand will jump...

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Somalia Piracy Report November 10

Today, 10. November 2010, 23h00 UTC, at least 29 foreign vessels plus one barge are kept in Somali hands against the will of their owners, while at least 510 hostages or captives - including an elderly British yachting couple, the 5 hostages from Somaliland and...

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Samsung Heavy Wins First Drill-Ship Order in 2 Years

Samsung Heavy Industries Co., the world’s biggest drill-ship maker, won its first contract for such vessels in two years as oil companies revive exploration plans following the BP Plc spill in April. The $1.08 billion contract from Seadrill Ltd. covers two vessels...

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Disney Dream Float Out - Ausdocken

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More orders for Chinese Shipbuilding

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Tanker explodes in Russia.

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Buccaneer Energy Limited Provide Resources Estimation For the North West Cook Inlet Project in Alaska

Buccaneer Energy Limited is pleased to provide the following resources estimation for the North West Cook Inlet project located in the Cook Inlet, Alaska and completed by Netherland, Sewell & Associates, Inc. [Read more] Source: ABN Newsw...

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Total To Sell Exploration And Production Interest In Cameroon To Perenco

French oil major Total S.A. Wednesday said it has finalized an agreement in principle with Perenco, to sell its 75.8% equity in its upstream affiliate Total E&P Cameroun, a Cameroonian company which other shareholders include the national oil company - Société Nationale des Hydrocarbures - 20% and...

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Construction of Sapmer purse seiner completed

The South East Asia Shipyard (SEAS) has handed over a new 90 meter purse seiner build in Vietnam to Sapmer SA. Named “Bernica” and under a French Flag, the vessel will join the Sapmer fleet in the Indian Ocean. [Read More] Source: ...

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Gazprom: Korean Market to Rival France

Gazprom's sales to South Korea should pull even with supplies to major European buyers like France by 2017 as the Russian gas export monopoly turns its attention toward burgeoning Asian markets, Gazprom chief Alexei Miller said Wednesday. "Europe will undoubtedly...

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See 30% revenue growth in next 3-4 years: ABG Shipyard

D Datar, CFO of ABG Shipyard, in an exclusive interview with CNBC-TV18’s Udayan Mukherjee said the company’s current order book stood at around Rs 14,400 crore and that the order book was full for the next four years. He said the shipping major had better execution skills due to its new shipyard at...

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Japanese shipbuilder to deliver 20 more merchant ships to clients until 2013

Shipbuilder Tsuneishi Heavy Industries (Cebu), Inc. has booked orders for about 20 vessels until 2013. Tsuneishi President Shinji Watadani said the firm would be building merchant ships with deadweight tonnage of up to 180,000. [Read More] Source: BusinessWorld Onl...

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AP aims to clinch 2nd shipyard

HYDERABAD: Chief minister K Rosaiah on Wednesday said he would write to the shipping ministry expressing the government's desire to welcome a second major port and shipyard in the state. [Read More] Source: The Times of In...

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A.P. Moller-Maersk Forecasts $5 Billion 2010 Profit

Net earnings for Maersk parent reach $4.2 billion in first nine months, near $1.7 billion in third quarter A.P. Moller-Maersk issued the strongest sign yet of a turnaround in the shipping industry on Wednesday, forecasting it expects to turn a record profit of...

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“Shipbuilding is my calling in life”

One survey showed that most shipbuilding workers at Korea’s Deawoo Shipbuilding & Marine Engineering (DSME) think building a ship is their calling in life and still want to do shipbuilding related work after retirement even though the job is very tough. [Read...

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Gastar acquires right to drill on 59,000 acres in West Virginia for natural gas production

Gastar Exploration Ltd. said Wednesday it has acquired the rights to explore and drill for natural gas on 59,000 acres in West Virginia. The land is located in Preston, Tucker and Pendleton counties near the state's eastern border. It's located in the Marcellus...

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Russia May Raise Oil Export Duty 4.7% in December on Urals Price

Russia may raise its duty on regular crude exports as much as 4.7 percent and on shipments with a discounted rate as much as 9.7 percent on Dec. 1 after Urals prices rose. The standard tax rate will probably be in a range of $302.30 a metric ton to $304.40 a ton...

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Young engineers onboard Queen Mary 2 in Southampton

The students discovered more about the ship's propellers The chief designer of the Queen Mary 2 has been passing on his expertise to what he hopes is a new generation of naval engineers. [Read More] Source: ...

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Norway oil output falls faster than expected-Petoro

Oil production off Norway is falling faster than expected and energy companies are not investing enough to boost recovery from maturing fields, the state-owned firm Petoro said on Wednesday.   "Output is falling faster than expected," Petoro CEO Kjell Pedersen...

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Mitsui Engineering-Shipbuilding logs first orders for hybrid container cranes

Container cranes at the Port of Seattle Container cranes, like the massive units pictured above, transfer cargo from ships to the docks. The sheer size of such units, at least when viewed in person, negates any thought that one of these behemoths could accomplish...

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Europe's Natural-Gas Oversupply Will Last a Decade, E.ON Ruhrgas CEO Says

Europe’s natural-gas oversupply will remain for the next decade, E.ON Ruhrgas AG’s chief executive officer said today in Berlin.“The gas glut will remain for the next decade,” Klaus Schaefer, the head of E.ON AG’s natural-gas unit, said at the European Autumn...

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Connacher posts surprise Q3 profit

Canadian oil sands developer Connacher Oil & Gas Ltd posted a surprise quarterly profit, helped by strong operating margins at its heavy-oil refinery in Great Falls, Montana. The company set a capital budget of about C$104 million for 2011 for the development...

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Halliburton plans big capex increase in 2011

Halliburton Co, the world's second-largest oilfield services company, plans to increase capital spending next year by about a fifth at least, as it targets new opportunities outside its core U.S. market. Chief Financial Officer Mark McCollum credits Halliburton's steady investment through the 2009 downturn...

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Apache Completes Merger With Mariner Energy

Apache Corporation today announced that it has completed its merger with Mariner Energy. The merger closed today following its approval by Mariner's stockholders and subsequent completion of documentation. Apache issued approximately 17.5 million shares of its common stock and paid approximately $800...

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GE Plans to Spend $500 Million on Brazil Expansion

General Electric Co. will spend $500 million to expand energy, transportation and health-care manufacturing in Brazil while adding its fifth global research center as Chief Executive Officer Jeffrey Immelt takes advantage of faster growth in emerging markets. GE will spend $400 million in the next three...

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Saudi Aramco extends bids for Shaybah NGL project

Saudi Aramco has agreed to extend the bidding closing date for the construction of the Shaybah natural gas liquids (NGL) project, industry sources said on Wednesday. Shaybah NGL is one of two new gas projects the state oil giant plans to develop to boost gas output and meet rising domestic demand. Aramco...

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Box ship aids cruise vessel

DRESDEN Express, a Hapag-Lloyd box ship, was involved in preventing a cruise ship fire from becoming a tragedy, the US Coast Guard told Fairplay today. [Read More] Source: Safety at ...

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India to sign wreck removal convention

Mumbai: The Indian government has approved amendments to its Merchant Shipping Act to bring the rules in line with the Nairobi International Convention on the Removal of Wrecks, [Read More] Source: Seatrade Asia Onl...

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China Merchants invests in African shipping

The China Merchants Holdings International Co will form a joint venture to take a 47.5 percent stake in a Nigerian container-terminal operator from ZIM Integrated Shipping Services Ltd, for $154 million. [Read More] Source: China Da...

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JES International targets offshore with new yard

Singapore: Chinese shipbuilder JES International is the latest to target the offshore industry as its new yard comes onstream.  [Read More] Source: Seatrade Asia Onl...

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Pirates Attack EU NAVFOR Warship

During the night of November 6, the EU NAVFOR warship SPS Infanta Cristina was attacked off the East coast of Somalia by a vessel identified as the MV IZUMI, a ship that had itself been pirated on 10 October. [Read More] Source: Maritime To...

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STEALTHGAS CONFIRMS LIFE SAVING RESCUE OPERATION AMID NEW CHARTER DEALS

Following an eventful month, in which crew onboard the StealthGas-owned LPGC Gas Kalogeros rescued four stranded Chinese fishermen, Chief Executive Harry Vafias has announced new charter arrangements for three fellow StealthGas LPGC vessels, the Gas Moxie, the...

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Keel laying of the first Bore-twin in Flensburg

The keel of the first of two ro-ro vessels ordered by the Finnish shipping company Bore from Flensburger Schiffbau-Gesellschaft in Germany was laid on November 8, 2011. The owner is most pleased with the performance of the shipyard and delivery for newbuilding...

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Engine room fire ends Carnival Splendor voyage

This morning, tugs were heading to tow one of the world's largest cruise ships, the 113,323 gt Carnival Splendor, to Ensenada, Mexico. The tugs are expected to reach the ship around midday local time today. [Read More] Source: Marine...

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International Power Win Tidal Project

A venture owned by Morgan Stanley, International Power Plc and Atlantis Resources Corp. won a contract to develop a tidal power project in U.K. waters off northern Scotland. The Crown Estate, which owns the seabed in British waters, awarded the contract to MeyGen, a group that includes the three companies,...

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SAL: Encourage competition among stevedores

Shipping Australia’s (SAL) members welcomed the recent ACCC stevedoring monitoring report which concluded that if Australia is to meet the predicted boom in the container trade, competition is needed to encourage stevedores to invest further in terminals and make...

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Chinese prices pushing out Korean shipyards

Chinese shipyards continue to dominate the newbuilding market, with a price differential favouring Chinese yards over Koreans, according to a Clarksons report. [Read More] Source: Seatrade Asia Onl...

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Nordic Yards builds ice-tanker for Norilsk Nickel

Keel-laying of the Nordic AT 19 class ice-breaking tanker was held at Nordic Yards (Wismar, Germany) on November 1, 2010. The tanker was ordered by the Russian mining company Norilsk Nickel, the shipbuilding company said. As Nordic Yards owner and managing director Vitaly Yusufov said speaking at the...

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China COSCO chairman sees shipping recovery by 2015

The global shipping market will recover in three to five years, led by the container industry, which has already started to return to profits, a top executive said on Tuesday. The shipping industry was seen returning to pre-crisis levels with the help of soaring...

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RINA: Hellenic Technical Committee discusses shipbuilding activities in Far East

RINA organised the second meeting for 2010 of its Hellenic Technical Committee (RINA HTC) on Thursday 4th November at the Politia Tennis Club. The members of RINA Hellenic Technical Committee are distinguished managers of Greek Shipping Companies covering a broad...

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DVB Bank: Bearish sentiment predicted for Aframax tanker market in 2011

Oversupply issues, coupled with moderate oil demand growth, competition from VLCCs and Suezmaxes, as well as low scrapping activity appear to be hindering the future prospects of the Aframax tanker market, according to a recent research report issued by German bank DVB Bank. As the report states although...

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Evergreen set to order 8,000TEUs soon

Taiwan's Evergreen will soon add to its massive newbuilding tally, according to chairman Bronson Hsieh. [Read More] Source: Asia...

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Korean yards to book high Q4 results

Stock prices of Korean shipbuilding companies have recently been taking an upturn thanks to the inflow of funds from foreign investors. The pickup in business results caused by an improvement of the market situation has brought about the inflow of funds from foreign...

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Philippines' largest ship set for launch

MANILA, Philippines - A Japanese-Filipino joint venture said Tuesday it has built the biggest sea vessel that will have ever sailed from a Philippine port. The 287-meter (950-foot), 180,000-ton bulk carrier Tenshu Maru is set to sail from the shipyard in the central port of Cebu on Wednesday, Tsuneishi...

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PPP outlines challenges in oil exploration

Pan Pacific Petroleum (PPP), which sank five unsuccessful exploration wells last year, said it is continuing to study drilling opportunities in the Tui oilfield area. The company undertook an exploration programme to the south and east of the producing Tui field in Taranaki but did not find commercial...

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Viet Nam delivers fishing vessel to French buyer

The wholly foreign-invested South-East Asia Shipyard Co Ltd (SEAS) handed over a fishing boat named Bernica to a French customer late last week. The US$118.2 million vessel is capable of holding 1,000 tonnes of fish.The customer praised the high standard of Vietnamese shipbuilders' work and the project's...

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Pacific Fleet flagship Varyag arrives in S Korea Incheon on visit

Flagship of Russia’s Pacific Fleet - the Guards missile cruiser Varyag arrived in South Korea’s Incheon port on Tuesday. Its call at Incheon is timed to coincide with RF President Dmitry Medvedev’s visit to South Korea that is to begin on November 10. [Read More] Source: Itar T...

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Low-friction coating on new MOL PCTC

Mitsui O.S.K. Lines (MOL) recently adopted the low-friction ship bottom paint named ‘LF-Sea’ developed by Nippon Paint Marine Coatings on a new building PCTC (Pure Car and Truck Carrier). [Read More] Source: Motors...

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Tullow says Uganda plan to hinge on Heritage deal

Explorer Tullow Oil said a plan for a speedy resolution of a stand-off with the Uganda government on a planned sale of interests to France's Total and China's CNOOC looked unlikely. Tullow said the Uganda government had stated it would only approve the planned sale after it had settled a separate dispute...

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World’s major shipping firms look to expand fleets

Hanjin Shipping Co, South Korea’s largest shipping line, and China Shipping (Group) Co (中國海運集團) said they were close to ordering new vessels as world trade rebounds from the global recession. Hanjin may announce a deal for mid-sized container ships by as early as year-end, chief executive Kim Young-min...

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Managers of HHI POSCO and Hyundai Motor the oldest - Study

Despite Korea Inc’s efforts to embody more youthful management, the average age of executives at three of the top listed companies in Korea is still over 51 years old. According to a survey by website Chaebul.com, executives at Hyundai Motor, Hyundai Heavy Industries and POSCO were found to be older,...

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