Farstad orders platform supply vessels at STX OSV

Norway's Farstad Shipping ASA has placed an order for the first OSV to be built to a new wave piercing design by Rolls-Royce. The vessel is one of four platform supply vessels to be built under an agreement announced today between Farstad and STX OSV. The three...

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Nord Stream completes half-way mark of Russia-EU pipeline

Nord Stream, a gas pipeline to link Russia and the European Union (EU) via the Baltic Sea, has now completed over half of the first of its two 1,224km gas pipelines through the Baltic Sea. The company said that the construction of Line 1 is progressing on schedule,...

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Statoil speeds up development of Smorbukk North-East

Statoil has advanced the production start for Smorbukk North-East to December 2011 from its early planned 2013 start up.  The company will develop the field as a satellite to the Asgard B semisubmersible gas and condensate processing facility in the Norwegian...

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BP Chairman: Board To Exert Tougher Operational Control

Directors of BP PLC will tighten oversight of the U.K. oil giant's day-to-day operations in the aftermath of the Gulf of Mexico oil spill, its chairman told the Financial Times in an interview posted online late Wednesday. Carl-Henric Svanberg, in his first major...

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Noble sends 10 rigs to shipyard amid drilling lull

Noble Corp, the world's second-largest offshore drilling contractor by fleet size, said on Wednesday it sent 10 rigs to the shipyard because they could not secure contracts, and its stock fell 3 percent. That brings the number of "stacked" Noble rigs to 12 out...

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Independence Hub US Gulf gas platform back after work

Enterprise Products Partners LP said Wednesday the huge Independence Hub natural gas platform in the Gulf of Mexico returned to service on Tuesday following planned maintenance. An Enterprise spokesman said the production platform was back up to pre-maintenance flows of a little more than 500 million...

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TransCanada expects to see strong interest in Bakken crude oil pipeline

TransCanada Corp. expects to see strong interest in its proposal to ship light oil from Montana to markets further south, an executive with the pipeline giant told investors and analysts Wednesday. A so-called "open season" — in which potential customers are invited...

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Brazil's Parnaiba has new Devonian shale find

OGX Petroleo e Gas Participacoes SA, Rio de Janeiro, said gas flow from a Devonian shale discovery 12½ km from its first find in northeastern Brazil’s Parnaiba onshore basin supported a 20-m gas flare on drillstem test.  The flow came at the 1-OGX-22-MA well...

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Denbury sells Encore stake to Vanguard for $380M

Denbury Resources Inc. is selling its stake in Encore Energy Partners LP to Vanguard Natural Resources LLC for $380 million in cash and stock, the companies said Wednesday. The price includes at least $300 million in cash and up to $80 million in Vanguard common units. The sale is expected to close...

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Cameroon: Attack on Perenco oil vessel kills 5

Five people were killed in an attack in Cameroon on a boat carrying guards for an offshore oil field operated by French firm Perenco SA, the company said Wednesday. The attack late Tuesday night came as the vessel operated at an oil field abutting Nigerian territorial waters, possibly signaling that...

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Imabari focuses on R&D

R&D is being raised as a magnet for new investment by Japan's Imabari Shipbuilding, which used to invest its operating capital mainly in M&A or facility expansion.   [Read More] Source: Asia...

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Petrobras oil exports to hit 800,000 bpd by 2020

Brazilian state oil company Petrobras expects crude oil exports to rise to 800,000 barrels per day by 2020 as new oil production from vast offshore fields comes online, a company director said on Wednesday. Petrobras is currently both an importer and exporter...

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HHIC-PHIL wins order for 8 container ships

Hanjin Heavy Industries & Construction (HHIC-PHIL) won a contract from a Belgium shipping company to build eight 3800teu box ships at Subic Shipyard in Philippines. [Read More] Source: The Maritime Pr...

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Head of Austria's OMV charged with insider trading

The chief executive of Austria's oil and gas company OMV AG has been charged with insider trading, a prosecution spokesman said Wednesday. At issue is whether Wolfgang Ruttenstorfer had misused insider information when he bought roughly euro620,000 ($840,000)...

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Seafarer dies on bulker off Oz

A CREWMAN has been found dead on a Polish bulker off Queensland, according to Australian authorities. Polish Steamship’s 73,505dwt Polska Walczaca was about 300km northeast of Gladstone when the incident was reported late on 15 November. Authorities are investigating...

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Colombia’s Ecopetrol May Invest $8.5 Billion in 2011

Colombian state oil company Ecopetrol announced potential investments of roughly $8.5 billion in 2011, with 5 percent of that total to be allocated for projects in the United States, Brazil and Peru. Ecopetrol CEO Javier Gutierrez said in a statement that the...

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Nigerian military frees 19 hostages

Nigeria's military has freed 19 hostages in an operation in the country's main oil-producing region, including Nigerians and foreigners, security sources say. "We've got confirmed reports that, yes, all 19 have been reported freed," one of the security sources...

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Five killed in Gulf of Guinea attack – Maritime Security Alert: 17 November 2010

A maritime security alert has been issued after five people were killed in a speedboat attack near an oil rig in the Gulf of Guinea. [Read More] Source: LogisticsW...

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Successful Arctic voyage

The Russian icebreaking container vessel Monchegorsk, built in 2008, has returned to the port of Dudinka from a successful commercial test voyage from Murmansk to Shanghai via the Northern Sea Route. [Read More] Source: ship...

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Another DFDS ferry caught fire on the car deck

DFDS has been hit by another fire on the car deck on one of its passenger vessels. On November 17, a fire broke out in the early morning hours on board the Pearl of Scandinavia under a sailing from Oslo to Copenhagen. [Read More] Source: ship...

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Singapore ship managers merge to create a powerful new force in Asia

Luna Ship Management and Ship Management Associates (SMA), two Singapore-based ship managers, are merging to create a new, stronger management company to serve ship owners in the region and globally, it was announced yesterday Luna and SMA have combined to form Norstar Ship Management, a third party...

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Baltic index falls, capesize rates turn positive

The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, fell to its lowest in over three months on Wednesday as sluggish cargo activity weighed on the market. [Read More] Source: Reut...

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Ship owners order 231 vessels during January - October period

Despite the volatility of the Baltic Dry Index (BDI) during 2010 as well, not to mention the dismal picture of the tanker market, especially from summer onwards, shipowners from Hellas headed back to shipyards around the world to invest in renewing and expanding their fleets of vessels. According to...

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Oil groups press US Congress for Interior funding

Oil industry groups on Wednesday urged U.S. lawmakers to allocate more money for the federal offshore drilling regulator to speed permitting and environmental reviews. Regulations imposed by Interior Department's Bureau of Ocean Energy Management in the wake of the BP oil spill have slowed the process...

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Containership orderbook on the up

This October, the containership orderbook has risen for the first time after 27 consecutive months of decline, with new orders now pacing out deliveries. [Read More] Source: Motors...

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Volunteer lifeboat crews rescue vessel after 6 hour search in freezing fog

VOLUNTEER lifeboat crews searched for over six hours in freezing fog and dangerous conditions to free a two-man vessel stuck in the river Severn. Life The Severn Area Rescue Association, based at Sharpness, was called to a rescue at 3.10am on Tuesday, November 16 in which a vessel had struck an underwater...

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Brazil OSX To Buy 2 Oil Ships For $54 Million, Announces Shipyard Site

Brazilian shipbuilder and leaser OSX Brasil SA ,controlled by Brazilian billionaire Eike Batista, said late Wednesday it agreed to purchase two oil carriers for a total of $54 million from Vela International Marine Ltd. The two very-large crude carriers, or VLCCs,...

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ACP starts commissioning new tugboat series

Calovebora, the first in a series of thirteen Z-Tech tugboats built for ACP (the Panama Canal Authority) by Cheoy Lee Shipyards of Hong Kong is now in Panama. The 26-engine order for the tugs' twin 12-cylinder V228 engine installations is the largest in the history...

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Farstad orders platform supply vessels at STX OSV

Norway's Farstad Shipping ASA has placed an order for the first OSV to be built to a new wave piercing design by Rolls-Royce. The vessel is one of four platform supply vessels to be built under an agreement announced today between Farstad and STX OSV. The three...

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Signal International wins contract to clean BP oil spill vessels

Signal International CEO Dick Marler says the company signed a contract to clean BP vessels involved in the oil spill response.  [Read More] Source: al....

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Noble sends 10 rigs to shipyard amid drilling lull

Noble Corp (NE.N), the world's second-largest offshore drilling contractor by fleet size, said on Wednesday it sent 10 rigs to the  shipyard because they could not secure contracts and its stock fell 3 percent. [Read More] Source: Reut...

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POSCO plans to improve supply chain system

Supply chain management is one of the biggest concerns for global corporations in finding or maintaining sustainable competitive advantages, the Holy Grail in the business world. [Read More] Source: Korea Ti...

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Shipping firms make profit from… selling ships

Though shipping fees have increased by 10 percent over the previous year, shipping agents still cannot earn much money from shipping services, while their profit mainly come from ship trading. [Read More] Source: Vietnam....

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Greenpeace's new Rainbow Warrior completed in Poland

The latest incarnation of Greenpeace's flagship the Rainbow Warrior took to the water Tuesday after construction work was completed at a Polish shipyard, the global environment group said. [Read More] Source: Franc...

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DAEWOO SHIPBUILDING WINS US$200MLN OFFSHORE OIL PLATFORM DEAL

Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), South Korea's No. 2 shipbuilder, said on Wednesday that it has won a US$200 million deal to build a part of an offshore oil production platform. [Read More] Source: Trading Markets....

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