India: Dahej shipbuilding complex gets the go-ahead

India: The Gujarati state government has approved the development of a new shipbuilding cluster to be located in the south of the state at Dahej. [Read More] Source: Baird Marit...

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Dutch Freighter Arklow Resolve aground near Vordingborg

A Dutch coaster has gone aground at Vordingborg. Navy Operational Command has sent an environmental ship out to damming possible contamination. This morning is a Dutch coaster aground off Vordingborg. Navy Operational Command, Fleet, arrived on the spot. [Read...

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"Sagasbank" ran aground in the Kolding Fjord

On Mar 27, 2011, at 10.18 p.m. the "Sagasbank" ran aground in the Kolding Fjord en route to Kolding. The grounding occurred with a speed of eight knots. No injuries, no oil spills reported. The patrol vessel "Rota" was sent to the grounding site, but was...

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New NK office opened in Shenzhen, China.

ClassNK established a new office in Shenzhen, China on 1st April 2011 at the following address. Address: Room No.10, 2F, Tower B, Cyber Building, No.1079, Nanhai Road, Shekou, Nanshan District, Shenzhen, P.R. China 518067 Tel: +86-755-26860732 Fax: +86-755-22714806 E-mail:...

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Shippers face radiation spot checks

Some shipping companies, already facing burdensome fuel costs, say they now must contend with radiation spot checks on ships that have visited Japan. [Read More] Source: ...

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India: Governmentt looks at checking shipping cartelisation

The government plans to put in place a mechanism for regulating the restrictive trade practices in the shipping sector, especially the ones which impact containerised trade. The enabling provision for the mechanism would be part of the proposed Shipping Trade...

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World’s Biggest Shipping Lines Say They're Still Serving Tokyo Bay Ports

The world’s biggest oil-tanker firms, dry bulk carriers and container lines are servicing Japanese ports, judging there to be no threat to vessels or crew from radiation leaking from a crippled nuclear plant. [Read More] Source: Bloomb...

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Danaos Corporation Announces Completion of Comprehensive Financing Plan

Athens, Greece - March 31, 2011. Danaos Corporation (NYSE: DAC), a leading international owner of containerships, today announced the formal completion of its previously announced Comprehensive Financing Plan, which fully funds Danaos’s current newbuilding program,...

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Dry bulk market weakens on slower demand, hopes for mid-term rebound on Japan’s reconstruction

The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 points, down by 0.97 percent. The main losing segment was the Panamax one with falls of 2.28 percent,while the Capesize...

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Japan Reconstruction May Boost Dry-Bulk Shipping Cargos, Ease Overcapacity

Reconstruction in Japan following a tsunami and earthquake that destroyed or damaged more than 150,000 buildings may boost volumes for dry-bulk shipping lines struggling with global overcapacity. [Read More] Source: Bloomb...

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Petrofac Awarded Shell Contract in Iraq

Petrofac, the international oil & gas facilities service provider, can confirm it has been awarded a contract, in excess of US$240 million by Shell Iraq Petroleum Development B.V. for developments in the Majnoon Field, Southern Iraq. Under the competitively...

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Oleg Strashnov delivered to Seaway

Today, Thursday March 31st 2011, Seaway Heavy Lifting took delivery of their new build DP3 crane vessel Oleg Strashnov. During the last two weeks, the sea trials and test lifts were successfully completed. DNV witnessed the 5,500 mt overload test. Earlier this...

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Drillsearch: PEL 91 Drilling Program Set to Commence

Drillsearch Energy Limited (ASX: DLS) is pleased to announce that the PEL 91 Joint Venture (Beach Energy 40% and operator / Drillsearch 60%) is mobilising the Ensign #18 drilling rig to the Hanson-1 drilling location. The rig is expected to arrive by the end of...

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Dutch arbitrators rule for Fairmount

The Netherlands Arbitration Institute (NAI) has ruled in favour of offshore contractor Fairmount Marine in a contract dispute with heavy transport company Fairstar. The arbitration board rejected Fairstar’s 2008 claim that Fairmount Marine was responsible for...

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CALL TO ARMS AGAINST LEAKS AND WELL INCIDENTS

The Petroleum Safety Authority Norway (PSA) has asked the industry to propose specific measures for reducing the number of hydrocarbon leaks and well control incidents on the Norwegian continental shelf. A very positive trend in the number of hydrocarbon leaks larger than 0.1 kilograms per second was...

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BP extends maintenance and modifications contract with Aker Solutions

BP has decided to extend the maintenance and modification contract with Aker Solutions, exercising a one year option in the existing agreement for the Ula, Valhall, Hod and Tambar fields. Work under the new option will last until April 2012. The contract value...

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First Chinese orders received for Unitor Ballast Water Treatment Systems

Wilhelmsen Technical Solutions has received orders for five Unitor Ballast Water Treatment Systems (Unitor BWTS) from Chinese yards. Three systems are to be installed on general purpose cargo vessels built at Baibuting Shipbuilding Co. Shandong. The remaining...

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Northrop Grumman Completes Spin-Off of Huntington Ingalls Industries, Inc.

Northrop Grumman Corporation (NYSE:NOC) today announced that it has completed the previously announced spin-off of its subsidiary Huntington Ingalls Industries, Inc. (NYSE:HII). Northrop Grumman stockholders of record at the close of business of the New York Stock...

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SUBSEA 7 ANNOUNCES CONTRACT FOR E.ON IN NORTH SEA

Subsea 7, a global leader in seabed-to-surface engineering, construction and services, today announces the award of an engineering and installation contract by E.ON Ruhrgas UK E&P for the Huntington Development in the North Sea. The Subsea 7 workscope comprises...

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Helix Well Containment Group to Significantly Expand Deepwater Capabilities

The Helix Well Containment Group (HWCG) announced today it will substantially increase its subsea well containment capabilities this year by expanding its ability to control and contain a release in water depths up to 10,000 feet. HWCG is a consortium of 22...

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TGS Commences Extensive 2D Reprocessing Project in Northern Makassar Strait, Indonesia

PERTH, AUSTRALIA (31 March 2011) – TGS has commenced an extensive multi-phase reprocessing program of 2D seismic data located in the Makassar Strait, Indonesia.   The first phase consists of 2,700 km of seismic data in the Northern Mahakam Delta. The...

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TransAtlantic signs contract for AHT/Icebreaker Balder Viking

TransAtlantic has signed a contract with the English company Capricorn Energy Ltd, for the AHTS/Icebreaker Balder Viking. Capricorn is a wholly owned subsidiary of the British oil company Cairn Energy UK PLC based in Edinburgh. The AHTS/Icebreaker Balder Viking...

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Statoil: Further maturing the new rig concept

Statoil has decided to allow more time for the tenderers to mature their respective category B rig concepts, which includes an extended front end engineering and design (FEED) phase. The planned award date is set for the fourth quarter of 2011.Statoil has...

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NOCC: NEWBUILDING CONTRACT FOR A 6,500 CEU CAR CARRIER

Norwegian Car Carriers ASA has entered into a shipbuilding contract with Hyundai Heavy Industries Co., Ltd. ('HHI') for the construction of a large car carrier with a capacity of about 6,500 CEU for delivery in August 2012. The project price including costs related...

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Otto Marine secures US$43.4 million sales order for two 8,000bhp AHTS

Otto Marine Limited, a leading offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, announce that its shipbuilding arm and wholly-owned subsidiary, Otto Offshore Limited...

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STX OSV SECURES CONTRACT FOR A PLATFORM SUPPLY VESSEL

STX OSV Holdings Limited, one of the major global designers and shipbuilders of offshore and specialized vessels, announce that it has secured a new contract for the design and construction of a Platform Supply Vessel for an undisclosed customer. The vessel will...

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Chinese Navy Sails to Another First Off Somalia

A Chinese warship has completed its first escort of a World Food Program shipment along the pirate-infested coast of Somalia in another milestone for the Chinese military as it tries to enhance its operational experience – and its international image. [Read More] Source:...

Posted on 3/30/2011 / 0 comments / Read More

Asia-Europe Rates to drop below US$1,000 per TEU

Freight rates between Shanghai and North Europe have continued to fall 5.3 per cent to US$1,019 per TEU as of March 18 from $1,076 the previous week, and rates from Shanghai to Mediterranean ports decreased 3.9 per cent to $1,001 from $1,042, according to the...

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GE Energy to Acquire Converteam, Accelerating Momentum in High-Efficiency, Fully Electric Solutions

ATLANTA—March 29, 2011— GE (NYSE: GE) announced today that its Energy business has entered into an agreement to acquire approximately 90 percent of Converteam, a leading provider of electrification and automation equipment and systems, from a controlling shareholder...

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Idle containership fleet shrinks ahead of new service launches

THE number of idle containerships in the worldwide fleet stands at 84 vessels with a total capacity of 185,000 TEU, including 23 carrier-controlled ships. [Read More] Source: Sea N...

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Hamburg Süd: Port call of “Cap Isabel” in Tokyo cancelled at short notice

In all decisions concerning the current situation in Japan, Hamburg Süd is acting according to the maxim of, first and foremost, safeguarding the well-being of the seamen on the vessels it deploys and, at the same time, ensuring that Japan is not cut off from...

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Maersk deploys geared 4,500-TEU ship for west Africa string

MAERSK Line, the world's largest carrier, has announced it will deploy a 4,500-TEU newbuilding on the west Africa route at a naming ceremony at the Hyundai Heavy Industries shipyard in Ulsan, South Korea. [Read More] Source: Sea N...

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Taiwan: Shipbuilding market continues decline

Taiwan's shipbuilding market is still depressed despite recent economic growth and might not show a strong rebound until 2012, Taiwan's leading ship manufacturer said Wednesday. Industry prices which have fallen sharply since the economic recession took hold in...

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Shipowners need to change perception – LR

Lloyd’s Register says that looking for profit alone will not be enough in the future – ship owners and operators will need to concentrate on responsibilities to society as well as just making money. [Read More] Source: Motors...

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China COSCO H2 net beats f'cast, faces choppy water

China COSCO Holdings Co Ltd, the country's top shipping conglomerate, reversed losses to post a slightly better than expected net profit in the second half of 2010. But analysts say it is likely to face choppy waters ahead amid uncertain freight rates and rising...

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Japan Oil Ports Still Open to World’s Five Largest Tanker Lines

The world’s five biggest oil-tanker companies will still travel to the ports of Tokyo Bay, joining other shipping lines in judging them safe for crew and vessels. Mitsui O.S.K. Lines Ltd., Frontline Ltd., Teekay Corp., Nippon Yusen Kaisha and NITC Co., whose...

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Noble considers older rig selling

* CEO will consider potential for spin-off of older rigs * Rival Transocean also looking at spinning off older rigs Noble Corp (NE.N), owner of the second-largest offshore drilling fleet, is looking at potential sales of older, less-capable rigs in order to improve the overall fleet profile, its chief...

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Chevron expects Buckskin permit in a couple months

Chevron Corp (CVX.N) expects to get a permit for its Buckskin appraisal well in the Gulf of Mexico in a "couple months," having originally planned to drill last year, before the deepwater drilling moratorium. [Read More] Source: Reut...

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Shell Wins Approval for Deep-Water Drilling Permit in Gulf

Royal Dutch Shell Plc won a U.S. permit to drill a deep-water well in the Gulf of Mexico where exploration was banned after the BP Plc blowout 11 months ago. [Read More] Source: Bloomb...

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Brazil 'threatens' Asian floater sector

Brazil’s floating production sector could pose a threat to established Asian players in the coming years while the sector as a whole is poised for solid long-term growth, an offshore consultancy said in a new report. Local content requirements in Brazil have led...

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Singapore: Sembcorp, Teekay Ink Long Term Fleet Maintenance Agreement

Sembawang Shipyard, a wholly-owned subsidiary of Sembcorp Marine has signed a long-term alliance contract with Teekay Marine Services, Canada, to provide ship-repair, refurbishment, upgrading and related marine services for its fleet of 137 ships. Teekay Marine...

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Havyard builds vessels for Sartor Offshore

Sartor Offshore has ordered a Norwegian ship design developed from Havyard Ship Technology AS to approx. 300 million. The PSV, which will be built at shipyard in Sogn, is scheduled for delivery in January 2012. “The contract is based on optimism within...

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Severnaya Shipyard launches PSV for Norwegian customer

OJSC Shipbuilding plant "Severnaya Verf" has launched the offshore platform supply vessel (project VS 485 PSV) for the Norwegian company Solvik Hull Supplies II AS (part of the Solvik Offshore Group), the PortNews correspondent reports from the official launching...

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Statoil and KazmunayGas sign agreement

Statoil and KazMunayGas have signed the Heads of Agreement (HoA) on the Abay block in the Kazakhstani sector of the Caspian Sea. Under the HoA, the parties plan to conduct evaluation of the hydrocarbon potential of the "Abay" block in the Northern Caspian...

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Iran to invest $90 billion in South Pars

The ministry has plans to invest about $90 billion in the upstream and downstream sector of the South Pars gas field in the current Iranian calendar year (started March 21), Iranian Petroleum minister, Dr. Mirkazemi announced here. He said that about $60...

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