Korean win 320 ships

The total of domestic major shipbuilders' new orders for last year came in at 320 ships of 8.16m CGT worth $19.1bn. Based on the nine member companies of the Korea Shipbuilders' Association (Koshipa), 2010's overall new orders increased sharply by 3,795% in CGT and by 351% in values compared with the...

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Hyundai inks 9,300-teu sextet

Korea's Hyundai Heavy Industries has signed new contracts to build six containerships of 9,300 TEU with Germany's Bernhard Schulte and Israel's Ofer Brothers. [Read More] Source: Asia...

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Japanese yards claim to have edge over rivals

Technological progress plays a much less dramatic role in shipbuilding than in electronics or carmaking, but Japanese yards still see innovation as offering a vital edge against Chinese and South Korean competition. [Read More] Source: Financial Ti...

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Japanese shipyards demand action on cheap won

Two Japanese shipbuilders have called for urgent government action to tackle what they say is the unfair advantage enjoyed by South Korean rivals from an artificially cheap currency. [Read More] Source: Financial Ti...

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VLOC for NS United

 A steel mill jv shipping firm has inked a contract with Imabari Shipbuilding for a VLOC. No price has been given for the 335,000 dwt ship NS United has ordered in Japan for 2014 delivery. [Read More] Source: Seatrade A...

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Sumitomo snares Venezuelan aframaxes

Japan’s Sumitomo Heavy Industries has been given a newbuild order for a number of aframax tankers for Venezuela’s oil major, PDVSA. [Read More] Source: Seatrade A...

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SUR calls on maritime unions not to send seafarers to piracy-infected areas

Seafarers’ Union of Russia (SUR) called on a number of maritime unions to ensure that seafarers are not send to work in the Gulf of Aden and off Somalia as long as the pirates groups are operating there, the SUR statement said. For its part the organization will continue its efforts to ensure by all...

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Marine piracy losses hit a record $7b last year

Dubai: For the global shipping industry, which is still quite some distance away from a recovery following the global recession, losses from piracy reached an unwanted high during 2010. [Read More] Source: za...

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NATO Issue Guidelines to Prevent Piracy

A new set of guidelines to prevent the threat of pirates attacking shipping transiting the Gulf of Aden, Somali Basin and the Indian Ocean, has been launched recently on the NATO Shipping Centre (NSC) website. The products tanker Ardmore Seafarer (2004 / 45,744...

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U.S. Begins Inquiry Into Impact of Slower Container Ship Speeds

The U.S. Federal Maritime Commission has started an inquiry into how slower container ship speeds are affecting freight rates and supply chains. [Read More] Source: Bloomb...

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Shipping lines see steady Transpacific growth

Cargo demand will continue to improve during 2011 as the U.S. economy recovers, roughly in line with new vessel capacity entering the Asia-U.S. trade lane over that period. With a traditional third quarter peak season now considered likely, container lines in the Transpacific Stabilization Agreement...

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Marcoullis: Cyprus among top ten international fleets

Cyprus ranks among the top ten international fleets on the list of leading maritime nations and the country’s registry has shown phenomenal growth in the past thirty years, Minister of Communications and Works, Erato Kozakou-Marcoullis, stressed at the annual...

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Dry bulk: Is the tide turning?

In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) posted its first rise since the middle of January,inching forwards by a mere 0.19% to 1,045 points. The main reason for this development was the rapid recovery of...

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Pacific Northern to sell stake in Pacific Trail Pipelines

The largest shareholder in the proposed Kitimat natural gas pipeline project announced Monday that it is selling its 50 per cent interest in the project to its two other partners for $50 million. Pacific Northern Gas Ltd., of Vancouver, says the sale to partners...

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Chesapeake Energy plans to sell its Fayetteville Shale acreage, assets for $5B

Chesapeake Energy Corporation has decided to sell all of its Fayetteville Shale assets, as well as its equity investments in Frac Tech Holdings, LLC and Chaparral Energy Inc., as a part of the company’s 2011-2012 “25/25 Plan.”  If these sales are completed, Chesapeake anticipates that the combined...

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Newfield Exploration Announces 2011 Capital Investment Program, Production Growth Forecast of 8-12% Within Cash Flow

Newfield Exploration Company today announced its 2011 capital investment program and expectations for production growth. In addition, Newfield disclosed initial drilling results from a new oil resource play, located in the Arkoma Basin's Woodford Shale play in Oklahoma. Newfield plans to invest approximately...

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Husky upgrader running at reduced rates after fire

Husky Energy Inc's Western Canadian heavy-oil upgrading plant is running at reduced rates following a small fire at the facility, a spokesman said on Monday. The 82,000 barrel a day plant at Lloydminster, on the Alberta-Saskatchewan border, did not suffer extensive...

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DEME and MEDCO to Build Two Artificial Energy Islands for SARB Oil Field in U.A.E

Dredging International and MEDCO, have been awarded a contract for mixed dredging and civil engineering works to construct two artificial energy islands, including their service harbours, aimed to provide Abu Dhabi with energy based on facilities for oil drilling,...

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2H Offshore Awarded Big Foot Riser Systems Contract by Chevron

2H Offshore, an Acteon company, has been awarded a contract by Chevron USA Inc. for the detailed design and delivery management of the riser systems for its Big Foot field development. The Big Foot field is owned by Chevron USA Inc. (operator) and other working...

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Petrobras Ends Talks to Buy Stake in Galp

Petrobras, the state-controlled Brazilian oil giant, said on Monday that it had broken off talks with the Italian energy company Eni about buying a stake in Galp Energia. The company said in a brief filing with the Securities and Exchange Commission that it had “decided to terminate negotiations with...

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Ensco plc to Acquire Pride International, Inc.

Ensco plc and Pride International, Inc. jointly announced today that they have entered into a definitive merger agreement under which Ensco will combine with Pride in a cash and stock transaction valued at $41.60 per share based on Ensco’s closing share price...

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BowLeven says Cameroon well hits oil and condensate in the cretaceous

West African explorer BowLeven revealed today its Sapele-1 well in the Douala Basin off the coast of Cameroon has confirmed the presence of oil, condensate and gas at the cretaceous level.[Read more]Source: Proactive Invest...

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Anadarko makes fourth major discovery offshore Mozambique with Tubarao

Its fourth major natural gas discovery offshore Mozambique, US independent Anadarko Petroleum Corporation reported that its Tubarao exploration well discovered more than 110 net feet (34 meters) of natural gas pay in the Offshore Area 1 of the Rovuma Basin. The...

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Subsea 7 awarded $75 million North Sea Contract by Conocophillips

Subsea 7 S.A. announced today the award of a SURF contract valued at approximately $75 million from ConocoPhillips Skandinavia AS, acting as Technical Service Provider on behalf of the operator Gassco, in the German Sector of the North Sea. [Read more] Source:...

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Thai PTTEP in talks with Petronas on JDA fiel

Thailand's PTT Exploration and Production Pcl  said on Monday it was in talks with Malaysia's Petronas  about exploring for more gas at the Malaysia-Thai Joint Developping Area (JDA) in the Gulf of Thailand. The move is aimed at meeting rising natural gas demand in Thailand and reducing dependence...

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AMEC announces agreement to acquire Australian engineering consultancy Zektingroup

AMEC, the international engineering and project management company, announces today that it has entered into an agreement to acquire Zektingroup (Zektin), an Australian-based specialist engineering consultancy for the oil and gas and resources industries, from...

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Providence Resources, Shell To Negotiate Oil Off Take Agreement

Providence Resources Plc confirmed that it has signed a Memorandum of Agreement with Shell International Trading and Shipping Co. Ltd. According to Providence, the Memorandum of Agreement was signed to negotiate an oil off take sale and purchase agreement relating...

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Statoil lines up well on Spinell Sør

Petroleum Safety Authority Norway has approved two new drilling programs in the Norwegian Sea. Statoil Petroleum is authorized to drill exploration well 6407/4-2 on the prospect in license PL 429, using the semisub Transocean Leader. The location is 146 km (90.7...

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Petrobras Prepares to Start Drilling on Maruja Prospect Offshore Brazil

Maruja Field Appraisal Karoon advises that the semi-submersible ‘the Diamond Offshore Ocean Yorktown(photo) semisubmersible drilling rig’ has now moved onto location and is preparing to commence drilling on the Maruja-2 appraisal well. [Read more] Source: Offshore...

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Japan's Inpex to invest in 4 U.S. Gulf oil blocks

Japan's top oil and gas developer, Inpex Corp, said it received U.S. government approval to buy a 15 percent stake in each of four oilfields in the Gulf of Mexico from a subsidiary of Royal Dutch Shell. The Walker Ridge 95, 96, 139 and 140 blocks are located about 280 kilometres off the coast of New...

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Malaysia Marine orderbook seen positive

Malaysia Marine and Heavy Engineering (MMHE) Holdings Bhd's orderbook is expected to be positive, with contracts from Petronas' floating liquefied natural gas vessel, says ECM Libra Investment Research.  MMHE, a shipbuilding company, is likely to team up...

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Expro wins $8million well testing contract in Holland

Expro has been awarded a well testing contract in Holland worth around $8million (£5million). Total E&P Nederland B.V. has awarded Expro a three-year well testing contract for operations in the Dutch sector of the North Sea. The contract has two one-year extension...

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Output up at Shah Deniz gas and condensate field

Azerbaijan's Shah Deniz offshore gas condensate field produced 1.848m tonnes of condensate in 2010, 10.2% more than in 2009. [Read more] Source: Tr...

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IHC to promote its Engineering Solutions at Subsea 11, Aberdeen

IHC Engineering Business (IHC EB), a part of IHC Merwede, will be showcasing a range of their bespoke engineering solutions at the forthcoming SUBSEA 11, on 9-10 February 2011, Aberdeen at stand number B14. [Read More] Source: Dredging Toda...

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Agencies getting tough with ship ballast dumping

After decades of delay, government officials are beginning to crack down on cargo ships that allow foreign invasive species to hitchhike to U.S. waters, where they have turned ecosystems upside down and caused billions of dollars in economic losses. [Read Mor...

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How Important Is the Suez Canal to the US and Europe?

Much is being talked these days about Egypt and some about the Suez Canal. We have all heard about this old strip of water, which connects the Indian Ocean to the Mediterranean via the Red Sea. [Read More] Source:Minyanvi...

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First China built tug to Svitzer Scandinavia

The China built tug Svitzer Tyr is now in operation in Scandinavia after a long delivery voyage from Qingdao. [Read More] Source:Ship...

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Fake Distress

On Friday, February 4th, the Japanese harpoon vessel the Yushin Maru No. 3 issued a Mayday distress signal from the Ross Sea (71 degrees 58 minutes south and 176 degrees 48 minutes east). [Read More] Source:Ship T...

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Standby For Action

The United Nations announced its action plan to combat piracy off the Somali coast, calling for greater support from national navies to fight a “global menace” that threatens not only international trade but the world body’s delivery of vital food aid to millions of hungry people. [Read More] Source:Ship...

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Indian Navy captures 28 Somali pirates near Lakshadweep islands

In a major coordinated operation, the Indian Navy and the Coast Guard personnel apprehended a pirate mother ship Prantlaya 11 along with 28 Somali pirates in the Arabian Sea. [Read More] Source:sify n...

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One of four bullets from injured captain shot by S. Korean Navy

One of the four bullets removed from the injured South Korean captain of a chemical freighter hijacked by Somalis last month was shot by South Korean Navy commandos during their raid on the ship in the Arabian Sea, the South Korean Coast Guard said Monday, wrapping...

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S.Korean shipbuilding industry under massive restructuring

South Korea's shipbuilding industry has been under massive restructuring since 2006 as global shipbuilders are undergoing one of the biggest structural changes in their history. [Read More] Source: Xin...

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Dockwise Selects Hyundai as Yard for its new “Type 0” Super Vessel

Breda, The Netherlands, February 7, 2011 Following the Board’s decision, announced in November 2010, to commission a new build vessel to service the emerging market for ultra-large transports, Dockwise has appointed Hyundai Heavy Industries (HHI) of Korea as its...

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