Largest Baltic port sold in billion dollar deal

The Primorsk Trade Port that last year shipped 77.5 million tons of crude oil and oil products, have been sold for USD 2.15 billion. Buyer is Russia’s largest port operator measured in cargo turnover, Novorossiysk Commercial Sea Port Group, NCSP. [Read More] Source: ship...

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Slower containerships prompting industry re-think

Average containership speeds plummeted 7.4 percent year-on-year in December 2010, according to Bloomberg tracking data. [Read More] Source: Baird Maritim...

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UN envoy proposes special courts to try suspected pirates

The United Nations special envoy on maritime piracy off the coast of Somalia has proposed the setting up of two special courts inside the country and one in Tanzania to try suspected pirates, saying the problem in the Indian Ocean was getting out of hand and required...

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Taizhou Catic Shipbuilding wins six panamaxes

Chinese shipbuilder Taizhou Catic Shipbuilding & Heavy Industry has bagged six 76,000dwt panamax bulk carriers, the total contract value is US$180m, reported by a foreign media. The undisclosed owner seeems to order the ships on the price of US$30m each, which is lower than the average market price. Source:...

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South Korean ports register record port volumes

South Korean ports posted record container and cargo volumes in 2010 as economy and trade activities improved, the transportation ministry announced. Box throughput handled by the country's ports rose 18.1% year-on-year to 19.3m teu, while cargo volumes reached 1.2bn tonnes last year, up 11.8% from...

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Caterpillar powers new car ferries

Caterpillar Marine Power Systems was recently selected to provide combined propulsion systems for two Scandlines car ferry newbuilds. [Read More] Source: Motorshi...

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Van Oord signs LOI for massive Netherlands wind farm project

An advanced wind farm construction vessel ordered at German shipbuilder J.J. Sietas has a two-year project lined up following its September 2012 delivery. The ship is on order for Rotterdam headquartered marine construction contractor Van Oord, which has just...

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Call for harsher punishment after ship crosses Great Barrier Reef

An Australian politician says the punishment for two mariners who steered a foreign ship into the Great Barrier Reef Marine Park is too lenient. [Read More] Source: Australia Network N...

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Gunmen attack greek cargo ship off Nigeria

Greek authorities say armed men have attacked a Greek-managed cargo ship off the coast of Nigeria, kidnapping two officers and injuring two seamen. [Read More] Source: Canadian Pr...

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MSC Sonia struck lock near Antwerp

On Jan 23, 2011, the "MSC Sonia" allided with the wall of the Berendrecht lock in Antwerp being outbound for Valencia. The ship suffered a serious dent 80 metres from the bow and returned to Antwerp where it remained since.  Source: Sea N...

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FNC passes draft law to transform shipping industry

bu Dhabi: The Federal National Council (FNC) Tuesday passed a draft maritime law designed to transform the UAE's shipping industry into one of the country's major economic sectors. The draft law, which requires the President His Highness Shaikh Khalifa Bin Zayed Al Nahyan's signature to come into force,...

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Argentine wage strike blocks major port

Workers striking over wages have blocked a major port near the city of Rosario, paralyzing Argentina's main point of soy and grain exports, union sources said Wednesday. [Read More] Source: France...

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ClassNK Sets New Record for Class Entries

ClassNK announced its final register statistics for 2010 today, revealing that nearly 20 million gross tons were added to the class society’s register this past year. The announcement came following a meeting of the Society’s Classification Committee, which certified that 664 vessels totaling 19,650,486...

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Hyundai Heavy's 14% Increase in Steel-Plate Use May Let Posco Raise Prices

Hyundai Heavy Industries Co., the world’s biggest buyer of steel plate, plans to increase use of the material 14 percent this year to the most since 2008 as it boosts production of container vessels and oil tankers. [Read More] Source: Bloomb...

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Amid Glut, Where Will Dry Bulk Rates Go?

Already, a major dry-bulk shipping concern has succumbed to this month's epic collapse in the rates charged to haul raw materials around the world. That company, a South Korean freighter called Korea Line Corp., filed for receivership Tuesday and sparked concerns of a kind of domino effect. Eagle Bulk...

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FLAGSHIP TCI improves engine performance monitoring

FLAGSHIP, the pan-European maritime transport project part-funded by the EU, has developed a monitoring system that applies the Technical Condition Indexing scheme (TCI) to help a ship’s crew monitor and improve the technical condition of the engines. [Read More] Source:...

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Pirate Attacks Spur 36-Fold Increase in Ransoms: Freight Markets

Somali pirate attacks are increasing, spurred by a 36-fold jump in ransoms in five years, raising costs for shippers and the threat to vessels carrying 20 percent of world trade.  The raids are adding at least $2.4 billion to transport costs because vessels...

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Containership orderbook is down by 21% on year

A new research from BIMCO’s shipping analyst, Peter Sand said yesterday that the total containership orderbook has fallen by 1 million TEUs, or 21% from 4.9 million TEUs this time last year to 3.9 million TEUs today. In total, 2010 saw the deliveries of 1.3 million TEUs of vessels, which coupled with...

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Mitsubishi in FLNG negotiations

Mitsubishi and Shell are reportedly in talks with Iraq over a possible FLNG plant. The FLNG facility is being planned by Mitsubishi to export gas captured from Iraq’s southern oilfields, according to Dow Jones. [Read More] Source: Asia...

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China: Difficult to recover

With new orders rebounding at the end of last year, Chinese shipbuilding industry showed recovery in 2010. But experts kept cautious views on the market. [Read More] Source: Asia...

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Daewoo, in effect, wins drillships

Korea's Daewoo Shipbuilding & Marine Engineering has practically won two drillships. Daewoo has recently signed a LOI with Cyprus-based Aker Drilling Offshore Services Public Ltd, a fully-owned subsidiary of Norway's Aker Drilling ASA, for two drillships plus...

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Newbuilding orders to rise 30%

The total of newbuilding orders for this year is expected to increase by 30% versus last year to 40.13m CGT. Um Kyeong-ah, researcher at Seoul-based Shinyoung Securities, casts a prospect as saying, "newbuilding prices would rise by about 10% at the end of the year against the beginning of the year. [Read...

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Northrop-built destroyer completes successful super trial

The William P. Lawrence, Northrop Grumman Shipbuilding's 28th Aegis guided missile destroyer, successfully completed its super trial in the Gulf of Mexico last week, the company announced Tuesday. [Read More] Source: Gulf L...

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Chinese yard clinches tanker pair

Jo Tankers in Norway recently ordered two 30.000 dwt stainless steel chemical tankers of IMOI/II/III notation from Mingde Heavy Industry in China with delivery from mid-year 2013. [Read More] Source: Motors...

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Mitsubishi raises Ops profit view to 90 bln yen-NIKKEI

Japanese engineering conglomerate Mitsubishi Heavy Industries Ltd. (7011.T) is seen to post annual group operating profit of about 90 billion yen, up 35 percent from a previous outlook, business daily Nikkei said. [Read More] Source: Reut...

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Japanese, Germans rush to shipbuilding fair in Istanbul

Ship owners from Japan and Germany have a keen interest in Turkey’s maritime industry, representatives of leading shipbuilding companies told the Hürriyet Daily News & Economic Review at a trade fair Wednesday. [Read More] Source: Hurriyet Daily N...

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Occidental Petroleum profit climbs 29% in 4th quarter

The nation's fourth-largest oil company says net income rose to $1.2 billion from $938 million a year earlier as production increased and oil prices hit two-year highs. Occidental Petroleum Corp., the nation's fourth-largest oil company, said Wednesday that its...

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U.S. lawmakers vow to pursue oil spill bill

U.S. Democrats on Wednesday pressed for new legislation aimed at preventing a repeat of last year's massive BP (BP.L) (BP.N) oil spill, as Republicans warned that the disaster should not be used to hamper offshore oil and natural gas production. [Read more] Source:...

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KBR to Execute Detailed Design of Chevron Big Foot Topsides

KBR today announced that it has been selected by Chevron USA Inc. to execute the detailed design for the Chevron Big Foot Topsides project. The Big Foot field is located in the Walker Ridge Block 29 of the Gulf of Mexico and is owned by Chevron USA Inc. (operator) and other working interest owners....

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Murphy Oil Profit Drops 45%

Oil and natural gas company Murphy Oil Corp. said Wednesday after the markets closed that its fourth quarter profit fell 45% from last year, when results were boosted by a hefty gain related to a recovery of deepwater federal royalties paid for certain oil and...

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Heritage Oil investors shun its giant Iraqi gas find

Shares in Heritage Oil unexpectedly plunged by 28pc on the news that it has made Iraq's biggest gas discovery for 30 years. The frontier explorer, run by former mercenary provider Tony Buckingham, had been hoping to strike oil in Iraq's semi-autonomous northern...

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Jailed Russian tycoon Khodorkovsky urges Medvedev to voice firm commitments to democracy

Jailed ex-oil tycoon Mikhail Khodorkovsky urged Russian President Dmitry Medvedev on Wednesday to give firm commitments to democracy instead of merely declaring his liberal ideals. Khodorkovsky, once Russia's richest man, was sentenced to six more years in prison...

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Saipem awarded new drilling contracts worth US$320 million

San Donato Milanese (Milan), 26 January 2011 – Saipem has been awarded new offshore and onshore drilling contracts worth approximately US$320 million. Saipem has been awarded the contract by Addax Petroleum to extend the charter of the semi-submersible rig Scarabeo...

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RWE Dea Announces Gas discovery in North El Amriya Concession, Egypt

RWE Dea Egypt announced today that it made a gas discovery in its own operated North El Amriya concession. The successful testing of the reservoir opens chances of further future discoveries in the licence. The NEA 3x discovery is located in the offshore North...

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New deepwater drillship for Pride

Pride International recently announced that the company has dedicated and accepted delivery of the ‘Deep Ocean Mendocino’, the third new deepwater drillship to be added to the Pride International fleet. Delivered by Samsung Heavy Industries (SHI), the Mendocino...

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GDF SUEZ in Norway: Gjøa field officially opened

The Norwegian Minister of Petroleum and Energy, Terje Riis-Johansen, officially opened the Gjøa oil and gas field in the Norwegian North Sea today in presence of Gerard Mestrallet, Chairman and CEO of GDF SUEZ. Gjøa has been the largest recent industrial project...

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Eni to operate Block 35 offshore Angola

Italy's oil and gas major Eni has won an international tender to operate block 35 in deepwater offshore Angola as it pushes to expand on its core African market and boost deepwater development. Eni said in a statement on Wednesday it will control operations and...

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Norway's Statoil awarded key exploration blocks offshore Angola

Norwegian oil and gas group Statoil said Wednesday that it saw significant upside potential in its future activities offshore Angola, following the award of fresh exploration acreage there. Statoil has just been awarded operatorship of the ultra deepwater Angolan...

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Total Announces New Discoveries in the Moho-Bilondo License in the Republic of the Congo

Total announces discoveries from the Bilondo Marine 2 and 3 wells (BILDM-2 and BILDM-3), drilled in a water depth of 800 metres in the central area of the Moho-Bilondo license, approximately 70 kilometres offshore the Republic of the Congo. They follow the successful...

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SapuraCrest unit wins US$31.5m contract

SAPURACREST Petroleum Bhd’s wholly-owned unit TL Offshore Sdn Bhd has won a US$31.5 million (RM96.08 million) contract from Petronas subsidiary PC Myanmar (Hong Kong) Ltd to provide transport and installation of offshore facilities at the Yetagun phase four development...

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Deep Sea Supply moves into Malaysian offshore service market

Oslo-listed Deep Sea Supply plc is moving to get access to the growing offshore supply market in Malaysia, which is protected by strong cabotage regulations. Today it announced it has entered into an exclusive partnership agreement with two Malaysian partners,...

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Scana: Offloading Systems Breakthrough in Brazil

Scana Industrier ASA has through it’s subsidary Scana Offshore Vestby AS, been awarded a LOI (“Letter of Intent”) to deliver 16 offloading systems to Brazil.The LOI is issued by the Brazilian company Engevix Construcões Oceânicas S.A, and covers eight Floating...

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Lundin Petroleum Spuds Tellus Exploration Well in PL338, Offshore Norway

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that drilling of exploration well 16/1-15 in PL338 has commenced. The well will target the Tellus prospect, which is situated immediately to the north of the Luno field.   The main objective of...

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Afren sees output almost trebling, eyes more deals

Oil and gas company Afren said on Wednesday it expected oil production to almost treble in the coming year thanks to acquisitions and as its Ebok oil field starts production in February. The company, whose main operations are in west Africa, said it expected net working interest production to average...

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ConocoPhillips charters two supply vessels from Norwegian DOF

Norwegian offshore vessel operator DOF ASA  said yesterday it had won six-year charters from ConocoPhillips Skandinavia AS, part of US oil firm ConocoPhillips, for two supply vessels. The parties agreed not to disclose the value of the deals. However, DOF...

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Chevron Cuts Australia Oil Output on Cyclone Bianca

Chevron Corp., the second-largest U.S. oil company, shut some output at its Barrow Island and Thevenard Island fields off northwest Australia ahead of Tropical Cyclone Bianca. Wells and equipment were being secured and “non- essential” workers evacuated, the company...

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Mustang forms Malaysian joint venture

Mustang Engineering LP has created a joint venture with Malaysia-based Sime Darby Energy & Utilities. The new company, Mustang Sime Darby, provides project management, design and procurement support services for the Southeast Asian oil and gas industry from its regional hub in Kuala Lumpur. [Read...

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L&N (Scotland) Prepare for Growth with Appointment of New Operations Director

Specialist oil and gas supply and service company L&N (Scotland) have appointed Craig Finnie to Operations Director while Mike McArtney takes on a new role as Business Development Director.  Mr Finnie has been with L&N for nine years, most recently...

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Repsol Makes New Brazilian Offshore Discovery

Repsol Sinopec with partners, Petrobras of Brazil and UK-based BG Group, discovered high quality crude in ultra-deep waters in the Santos Basin in Brazil’s pre-salt play. The discovery was made in the Carioca Northeast well in block BM-S-9, approximately 275 kilometres...

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Hess Reports Weaker 4Q Results

Hess' HES fourth-quarter results fell from year-ago levels, with both upstream and downstream earnings slipping from the previous-year period, compounded by one-time charges. Reported fourth-quarter earnings of $58 million included an aftertax impairment charge...

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Abu Dhabi to link gas facilities

Abu Dhabi has launched an ambitious project to link its massive offshore gas facilities with onshore networks as part of an ongoing development plan in its hydrocarbon sector, an official has said. The government-owned Abu Dhabi National Oil Company (Adnoc), one...

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Bulgaria Tangled in New Gas Price Talks with Gazprom

Bulgaria's state natural gas company Bulgargaz has started a new round of talks with Russian energy giant Gazprom on the price of natural gas supplies. Bulgargaz CEO Dimitar Gogov and Gazprom CEO Alexei Miller have met in Moscow discussing anew the price that...

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CAMAC Energy Provides Operations Update on Oyo #5 Well Intervention

CAMAC Energy Inc., a U.S.-based energy company engaged in the exploration, development and production of oil and gas, today announced that the well intervention operation on the Oyo #5 well, located in the Oyo Field located offshore Nigeria, which commenced in December 2010 to reduce the gas production...

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SeaBird - Awarded 2nd stage Rosebank field node survey by Chevron North Sea Limited

SeaBird Exploration PLC  announces through its wholly owned subsidiary SeaBird Exploration FZLLC the execution of a second contract with Chevron North Sea Limited (on behalf of itself and the other Rosebank partners: Statoil (U.K.) Ltd., OMV (U.K.) Ltd.,...

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EnerMech Win $7.1 Million Cape Contract

Cape Industrial Services Ltd has awarded EnerMech a three year contract for the provision of plant and equipment support. The contract, worth an estimated £4.5 million, covers the rental and supply of power generation and blasting, tooling, lifting and rigging...

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