Bow Energy Limited Share Purchase Plan Scaled Back To A$30.0 Million

Bow Energy Limited are pleased to announce that it has received applications for over A$36 million under its Share Purchase Plan ("SPP"). The final amount is subject to cheque clearances and application confirmations, however as previously advised, Bow set a cap...

Posted on 12/21/2010 / 0 comments / Read More

Noble Corp. orders up two high-spec, heavy-duty jackups from Sembcorp for $440MM

Noble Corporation has entered into an agreement for the construction of two high-specification heavy duty, harsh environment jackup drilling rigs with Sembcorp Marine's subsidiary Jurong Shipyard in Singapore.  The new units are scheduled for delivery in...

Posted on 12/21/2010 / 0 comments / Read More

Halliburton will pay Nigeria in graft case

The United States oil services group Halliburton agreed to pay Nigeria $35-million to settle a bribery dispute which led to charges being filed against former US vice-president Dick Cheney, it said on Tuesday. [Read more] Source: The s...

Posted on 12/21/2010 / 0 comments / Read More

SOMALI PIRATE ‘GLOBAL LEADER IN SHIPPING INDUSTRY’

A somali pirate has been ranked alongside a billionaire trade magnate and the Chinese transport minister as among the most powerful people in shipping. The Lloyd’s List ranking of the 100 top people in the global shipping business is one of the most respected sources in the industry. [Read More] Source:...

Posted on 12/21/2010 / 0 comments / Read More

EXCO Resources, Inc. Announces Acquisition of Marcellus Shale Properties from Chief Oil & Gas

EXCO Resources, Inc. today announced the acquisition of properties prospective for the Marcellus shale from Chief Oil & Gas LLC and related parties (“Chief”) for approximately $459.4 million, after preliminary purchase price adjustments at the closing. The...

Posted on 12/21/2010 / 0 comments / Read More

FX Energy Signs Letter of Intent to Complete Industry Funding of First Kutno Well

FX Energy, Inc. today announced that it signed a Letter of Intent with Kulczyk Investments S.A., ("Kulczyk Investments") in connection with the Company's Kutno project in central Poland. The agreement provides for Kulczyk Investments to join FX Energy and the Polish Oil and Gas Company ("PGNiG") in...

Posted on 12/21/2010 / 0 comments / Read More

Aker Solutions awarded Goliat tie-in and connector contract

Aker Solutions has been awarded the tie-in and connector scope associated with the Goliat flowlines and risers contract by Technip Norway. The contract value is approximately NOK 65 million. The scope of work includes the outboard remote tie-in system termination...

Posted on 12/21/2010 / 0 comments / Read More

Shipping industry recovering, but still hampered by oversupply of vessels and depressed freight rates, report says

The Review of Maritime Transport 2010 warns that numerous uncertainties and the fragile global economic conditions may still hinder the hard-pressed shipping industry. International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put...

Posted on 12/21/2010 / 0 comments / Read More

Panama’s Hugo Torrijos dies at 59

The Asian and world maritime community is saddened by the news that Dr. Hugo Torrijos, one of the principal architects of Panama’s modern maritime industry, died today aged 59 of cancer. [Read More] Source: Seatrade Asi...

Posted on 12/21/2010 / 0 comments / Read More

Williams completes $925MM Bakken oil acreage purchase in North Dakota

Williams announced that it has completed a major purchase in North Dakota's Bakken oil play from private owners for $925 million cash.  In the transaction, Williams purchased 100 percent of the interests in Dakota-3 E&P Company LLC. Dakota-3 has approximately...

Posted on 12/21/2010 / 0 comments / Read More

MV Orna Pirated in the Indian Ocean

At midday on 20 December, the MV Orna was pirated in the Indian Ocean, approximately 400 nautical miles North East of the Seychelles. The attack was launched from two attack skiffs, with pirates firing small arms and rocket propelled grenades at the merchant vessel....

Posted on 12/21/2010 / 0 comments / Read More

Engine Room Simulator Upgrade, Bodin Maritime School

Kongsberg Maritime's Simulation division has recently signed a new contract with Bodin Maritime School for an extensive upgrade of its existing engine room simulator. The upgrade will make the school the most modern and comprehensive engine room simulator facility in Norway, with the ability to offer...

Posted on 12/21/2010 / 0 comments / Read More

Transpetro Invests $239m in Barges & Towboats

Transpetro and Estaleiro Rio Tietê signed in late November, in Ribeirão Preto (SP), an agreement for the construction of 80 barges and 20 tugboats, which will make up convoys for the transportation of ethanol on the Tietê-Paraná Waterway. The new shipyard will be built in Araçatuba (SP).In August, Estaleiro...

Posted on 12/21/2010 / 0 comments / Read More

ONGC, Sistema to merge Russian oil & gas assets

State-run ONGC and Russian conglomerate Sistema have decided to merge their oil & gas businesses in Russia under a joint venture in a no-cash deal where the Indian firm will have a 25% shareholding with a say in management.  [Read more] Source: The Economic Ti...

Posted on 12/21/2010 / 0 comments / Read More

ST Marine books upgrade and repair orders

Singapore's ST Marine (Singapore Technologies Marine Ltd.) has secured its first contract from the Royal Australian Navy (RAN). It is to to double-hull the 157.2 m long combat logistics vesse HMAS Success, to be double hulled to meet IMO standards for environmental protection against oil spills. The...

Posted on 12/21/2010 / 0 comments / Read More

Ivanhoe Rises After ‘Significant’ Gas Find in China

Ivanhoe Energy Inc., a Canada-based oil producer, rose 11 percent after announcing what it called a “significant” natural-gas discovery in southwestern China. Ivanhoe, based in Calgary, rose 29 cents to $2.83 at 4 p.m. on the Nasdaq Stock Market. The shares rose...

Posted on 12/21/2010 / 0 comments / Read More

Transpetro to rebid eight product tanker building contracts

Petrobras transportation subsidiary Transpetro is to rebid eight 30,000 dwt product tankers. A new solicitation will go out by the end of this month after Transpetro could not conclude contracts awarded to Brazilian shipyards Rio Nave and Estaleiro Maua under an earlier solicitation. [Read More] Source:...

Posted on 12/21/2010 / 0 comments / Read More

Incat Crowther utility cat nears delivery

Recently launched by Australian shipbuilder Richardson Devine Marine at its Hobart, Tasmania, shipyard, Strait Shooter is a 28 m Incat Crowther design utility catamaran built for Carpentaria Contracting. The vessel will be based at the port of Weipa in Australia's...

Posted on 12/21/2010 / 0 comments / Read More

Nacelles Cross Atlantic to Brazil

Vasco Gallega Group recently transported 57 wind turbine nacelles from Bilbao in Spain to Salvador in Brazil. VGG provided export customs clearance, heavy-lift loading and discharge, and sea transport aboard a multi-purpose heavylift Beluga vessel. [Read More] Source:...

Posted on 12/21/2010 / 0 comments / Read More

MACC to charge two top Sime Darby men

The Malaysian Anti-Corruption Commission (MACC) is expected to charge at least two top executives of Sime Darby Berhad with graft today and tomorrow. Sources said the two, who hold senior positions in the corporate company, were alleged to have received cash as well as other forms of inducements from...

Posted on 12/21/2010 / 0 comments / Read More

Refinery Equipment Reaches Thessaloniki

Delta Maritime recently completed the transport of heavy equipment bound for the Hellenic Extension Petroleum Refinery outside Thessaloniki, Greece. [Read More] Source: Break Bul...

Posted on 12/21/2010 / 0 comments / Read More

Marseille’s new gantry cranes to serve 13,000TEU vessels

As part of their investment in port terminals, Portsynergy shareholders CMA CGM and DP World have just taken delivery of the first two gantry cranes for the Terminal de la Méditerranée. For the CMA CGM Group, these are the fourteenth and fifteenth cranes to be purchased for its French terminals. [Read...

Posted on 12/21/2010 / 0 comments / Read More

Trico Marine to sell remaining towing and supply vessels

United States: Trico Marine Services has reached an agreement to sell Trico's remaining towing and supply vessels and any related operating assets to settle debt related issues. [Read More] Source: Baird Maritim...

Posted on 12/21/2010 / 0 comments / Read More

Scottish anger over Iceland's increased TAC

United Kingdom: Scottish Fisheries Secretary Richard Lochhead has attacked Iceland’s decision to again establish a unilateral mackerel quota.For 2011, the country has boosted its catch proposals from 130,000 tonnes to 147,000 tonnes. Iceland and the Faroe Islands are both guilty of recently walking...

Posted on 12/21/2010 / 0 comments / Read More

Santos receives approval for Bangladesh investment

Santos Ltd $200 million investment plan to drill three wells in the Bay of Bengal has received approval from the government of Bangladesh. The approval comes one month after British oil and gas firm Cairn Energy decided to divest its minority interest in the Sangu gas field off the Bangladesh coast...

Posted on 12/21/2010 / 0 comments / Read More

China tanker delays rising, says Nor Ocean’s Mansson

Supertankers that ship 2 million barrel cargoes of crude oil face delays at Chinese ports, potentially lowering vessel supply in the Arabian Gulf, said Per Mansson, managing director of Nor Ocean Stockhol. [Read More] Source: Arabian Business....

Posted on 12/21/2010 / 0 comments / Read More

P&I clubs warn of risks to shipowners posed by Venezuela narco law

The International Group of P&I Clubs says it is concerned by the "indiscriminate and disproportionate application of criminal law in Venezuela in cases where vessels have been targeted by drug smugglers for the carriage of illegal narcotics." New legislation to regulate the investigation and potential...

Posted on 12/21/2010 / 0 comments / Read More

Gazprom cuts output forecast to 570-580 bcm by 2015

Russia's gas giant Gazprom has cut its gas output forecast for 2015 to 570-580 billion cubic meters per year due to worsening market conditions, the company said on Tuesday. [Read more] Source: RIA Vono...

Posted on 12/21/2010 / 0 comments / Read More

New shipbuilding whitepaper shows how industry can beat the recession

AVEVA (LSE:AVV) one of the world’s leading providers of engineering design and information management solutions for the plant, power and marine industries, today announced the release of AVEVA Integrated Shipbuilding, the latest in its series of industry whitepapers....

Posted on 12/21/2010 / 0 comments / Read More

Northern Petroleum begins production from Netherlands gas field

Northern Petroleum has commenced production from the Wijk en Aalburg gas field in the Netherlands. Last week, Northern Petroleum Nederland (NPN) commenced commercial gas production from the Wijk en Aalburg field in the Andel III license. [Read more] Source: Energy Business Rev...

Posted on 12/21/2010 / 0 comments / Read More

MEC Resources Offshore Sydney Basin Outgassing

MEC Resources investee company Advent Energy is pleased to announce that Advent’s geophysical advisors Total Depth Pty Ltd has demonstrated that features associated with the Gorgon Gas Field have also been identified in the offshore Sydney Basin. Total Depth has...

Posted on 12/21/2010 / 0 comments / Read More

Antrim Energy signs agreements for P-Z PSA in Tanzania

Antrim Energy Inc., an oil and gas exploration and production company, has signed two agreements which are expected to lead to the resumption of exploration activities on the production sharing agreement for the Pemba Zanzibar exploration license, or P-Z PSA,...

Posted on 12/21/2010 / 0 comments / Read More

500 Seafarers held hostage by pirates at Christmas

The following is issued on behalf of the Round Table of international shipping associations - and the International Transport Workers’ Federation (ITF).500 SEAFARERS HELD HOSTAGE BY PIRATES AT CHRISTMASAs many people are about to enjoy the Christmas holiday season, it is important to remember that over...

Posted on 12/21/2010 / 0 comments / Read More

Naming Ceremony for the Company's first two Drill Ships, Ocean Rig Corcovado & Ocean Rig Olympia

Naming Ceremony for the Company’s two first Drill Ships took place at the Samsung Heavy Industries Shipyard in Korea on December 16th . Godmother of Ocean Rig Corcovado is Jann Brown, Financial Director of Cairn Energy PLC. Godmother of Ocean Rig Olympia is Olga...

Posted on 12/21/2010 / 0 comments / Read More

Dry bulk market looking for direction amid holidays

The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry’s benchmark has been falling this week, with the Baltic Dry Index (BDI) retreating yesterday to 1,886 points, close to its 2010 lowest....

Posted on 12/21/2010 / 0 comments / Read More

Kamsarmax orders surge in 2010

A surge in kamsarmax orders explain the increase this year in contracts for panamax bulkers. Clarksons says although the global orderbook for ships continues to decline, there are more panamaxes than at the end of 2009. [Read More] Source: Asia...

Posted on 12/21/2010 / 0 comments / Read More

Norway: Farstad Shipping Awarded 3 Charter Contacts Worth Combined $285M

AHTS Far Shogun (2010, UT 731CD, 24.000 BHP) and AHTS Far Saracen (2010, UT 731CD, 24.000 BHP) have both been awarded 3 years firm contracts by Chevron Australia Pty Ltd to support their drilling program off north west coast of Australia with the new semi submersible...

Posted on 12/21/2010 / 0 comments / Read More

Dutch environmentally friendly ferry design

Damen Shipyards has announced that it has been tasked with developing a new environmentally friendly ferry design for the Dutch shipping company Rederij Doeksen, which operates passenger and car ferries between Harlingen and the Dutch Wadden islands. [Read More] Source: Motors...

Posted on 12/21/2010 / 0 comments / Read More

Sembcorp Marine Unit Gets $400M Rig Building Contract From Noble Corp

Singapore's Sembcorp Marine (S51.SG) said Wednesday its Jurong Shipyard unit has secured a contract worth $400 million to build two rigs for oil and gas offshore drilling contractor Noble Corp. (NE). [Read More] Source: The Wall Street Jour...

Posted on 12/21/2010 / 0 comments / Read More

Vinashin pledges to pay debts after one year of restructuring

The Vietnam Shipbuilding Industry Group (Vinashin) will be able to pay its debts after one year of restructuring, affirmed Vinashin Chairman Nguyen Ngoc Su in an interview with the Vietnam News Agency. [Read More] Source: Vietnam Bri...

Posted on 12/21/2010 / 0 comments / Read More

Daewoo wins cargo carrier order from Norway

Daewoo Shipbuilding and Marine Engineering (042660.KS), the world's second-largest shipbuilder, said on Wednesday it had won an order to build five cargo carriers from Norway's Saga Shipbuilding Norway AS. [Read More] Source: Reut...

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SBM Offshore: FPSO P-57 Starts Oil Production

FPSO P-57 started first oil production on 17 December 2010 on the Jubarte field offshore Brazil in the Campos Basin. This major project milestone marks the final delivery and hand over of the FPSO to Petrobras and has been reached two months ahead of schedule. The...

Posted on 12/21/2010 / 0 comments / Read More

Shell Awards Cardamom Deep Project to FMC Technologies

FMC Technologies, Inc. announced today that it has signed an agreement with Shell to supply subsea and topside systems for the Cardamom Deep project in the Gulf of Mexico. Cardamom Deep is a subsea tie-back to Shell's Auger Tension Leg Platform. The field is located...

Posted on 12/21/2010 / 0 comments / Read More

BP restarts production at Azerbaijani oil platform hit by safety fault

BP has restarted production at one of its offshore oil platforms in Azerbaijan after repairing faulty firefighting water pumps. The Chirag platform, which produces 90,000 barrels a day, was shut down last Saturday after the problems were discovered during routine...

Posted on 12/21/2010 / 0 comments / Read More

NPD Releases Norwegian Continental Shelf No.2-2010 Journal

The Norwegian oil adventure has yielded a fantastic return for the nation. Gross revenues from this industry exceed NOK 8 000 billion – with more than half of Norway’s petroleum still to be recovered. [Read more] Source: Offshore Energy To...

Posted on 12/21/2010 / 0 comments / Read More

SBM OFFSHORE : FPSO ASENG FINANCING COMPLETED

Aseng Production Company Limited, a Joint-Venture incorporated between SBM Offshore and "GEPetrol, Compania Nacional de Petroleos de Guinea Ecuatorial" (GEPetrol), has successfully secured a US$ 602 million Project Debt facility in order to finance the investment...

Posted on 12/21/2010 / 0 comments / Read More

Hardy Oil and Gas plc Commencement of Drilling

Hardy Oil and Gas plc, the oil and gas exploration and production company focused in India, is pleased to announce the commencement of drilling of the second exploration well on the D9 exploration licence. The exploration well KG-D9-B3 commenced drilling on 20...

Posted on 12/21/2010 / 0 comments / Read More

Government Approval of the Development Plan of the Abadi Gas Field in the Masela Block, the Arafura Sea, Indonesia

INPEX CORPORATION (INPEX) is pleased to announce today that the Plan of Development (POD) for the Abadi gas field in the Masela Block, the Arafura Sea, Indonesia, was approved by the Indonesian Government. The project has been undertaken by INPEX Masela, Ltd.,...

Posted on 12/21/2010 / 0 comments / Read More

Drydocks World Wins $13 Million FPSO Conversion Project

Drydocks World announced that it has been awarded a conversion contract for the FPSO, estimated at USD 13 million by BW Offshore, one of the world's leading FPSO contractors.  The vessel, BW Carmen, which has been renamed BW Athena was built in 1994 and converted...

Posted on 12/21/2010 / 0 comments / Read More

New Head of Environment at Wilhelmsen Ships Service

Wilhelmsen Ships Service is underlining its commitment to the protection of the environment by appointing a new Head of Environment, Thea Corwin. Thea, who takes up the position on 1 January 2011, will be dedicated to developing a vision, policy, strategy and...

Posted on 12/21/2010 / 0 comments / Read More

Fabio de Oliveira Barbosa Joins BG Group

BG Group announces that Ashley Almanza will stand down from the Board and leave his role as Chief Financial Officer on 31 March 2011. This follows an earlier indication from Mr Almanza of his desire to leave BG Group within the next two years. After 31 March...

Posted on 12/21/2010 / 0 comments / Read More

Globe iFusion Wins Inmarsat 2010 Maritime Solution of the Year

Globe Wireless announces that Inmarsat has named Globe iFusion the 2010 Maritime Solution of the Year. Globe Wireless became a FleetBroadband Distribution Partner in January 2010. In September 2010 Globe iFusion was released, making Globe Wireless the only Distribution...

Posted on 12/21/2010 / 0 comments / Read More

Hydrex repairs drilling vessels in Gulf of Mexico

Underwater ship repairer Hydrex recently carried out a full inspection and removal of all fouling from two drilling vessels in the Gulf of Mexico to reduce the weight and drag of the vessels and increase their available cargo capacity. [Read more] Source: Baird...

Posted on 12/21/2010 / 0 comments / Read More

Lamprell CFO Scott Doak Intends To Leave

Oil and gas rig upgrade and refurbishment services provider Lamprell plc said it has been informed by Scott Doak, Chief Financial Officer, that he wishes to leave the company by the end of 2011 to pursue other interests. Scott will, by then, have spent almost...

Posted on 12/21/2010 / 0 comments / Read More