Kogas mulls sale of Gladstone LNG stake

SOUTH Korean state-run utility Korea Gas Corp, or Kogas, said yesterday it may sell around a 10 per cent stake in the Gladstone liquefied natural gas project in Australia to Korean or Japanese companies. [Read more] Source: The Austral...

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EPA submits hydraulic fracturing study plan for review

The U.S. Environmental Protection Agency (EPA) today submitted its draft study plan on hydraulic fracturing for review to the agency’s Science Advisory Board (SAB), a group of independent scientists.  Natural gas plays a key role in our nation’s clean energy...

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Samsung ready to meet eco-ship

Korea's Samsung Heavy Industries is promoting the development of cutting-edge eco-ships, including fuel-efficient ship types, fuel-saving devices and LNG-fueled ships. [Read More] Source: Asiasi...

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New orders plunge in Jan,

Combined new orders of Korean shipbuilders during January are seen to fall behind Chinese rivals. According to the Clarkson Research Services and industry sources, the combined new orders of Korean shipbuilders during January came to 356,398 CGT decreasing by 48.2% against the previous month based on...

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PetroChina to invest more than $5 billion gas play

PetroChina Ltd., China's biggest oil and gas producer, said Wednesday it has agreed to pay $5.4 billion for a 50 percent stake in Encana Corp's shale natural gas play in northeastern British Columbia in what would be the largest ever Chinese investment in Canada's energy sector. [Read more] Source:...

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Saudis 'overstated oil reserves'

THE US fears Saudi Arabia may not have enough oil reserves to prevent prices rising sharply, according to leaked cables.The cables from the US embassy in Riyadh, obtained by WikiLeaks, urge Washington to take heed of a warning from a former Saudi government oil...

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Suez Canal shutdown – heavy blow to the shipping industry

A potential Suez Canal shutdown, caused by the civil unrest in Egypt, would have a severe impact on the container shipping industry, according to the shipping analysis company Alphaliner. A closure is highly unlikely as the traffic through Suez generates badly...

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Ensco orders harsh-environment jack-ups at Keppel FELS

Ensco plc reports that one of its subsidiaries has finalized a fixed-price shipyard construction contract with Keppel FELS Limited in Singapore for construction of two new ultra-premium harsh environment jack-up rigs.  [Read more] Source: Marine...

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Noumea orders second Austal ferry

Tourism operator Mary D Enterprises has selected Austal to design and construct a 35.20m high-speed monohull passenger ferry, the second Austal-built vessel for the Noumea-based company. [Read More] Source: Motorshi...

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Color Line to use dynamic trimming system

Eniram Oy, the developer of dynamic decision support systems, announced that the Norwegian shipping company Color Line AS will be deploying the first installation of the dynamic trimming assistant (DTA) on one of their ferries in March. [Read More] Source: Mo...

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New B-1 visa for foreign maritime workers requiring TWIC

The Department of Homeland Security (DHS) and Department of State (DOS) today announced the creation of an annotated version of the B-1 visa--issued to foreign citizens visiting the United States for business purposes--that will make foreign maritime workers eligible...

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OGX: Waimea development well could flow oil at 40,000 BPD in the Campos Basin offshore Brazil

OGX Petróleo e Gás Participações S.A. (OGX) concluded the drilling of the horizontal well 9-OGX-26HP-RJS horizontal well in the Waimea oil field in the Campos Basin offshore Brazil. Through a drill-stem test of the well, OGX has identified excellent production index (PI) of 100m³/day/kgf/cm², similar...

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Rederi AB TransAtlantic takes delivery of ice strengthened AHTS

Sweden's Rederi AB Transatlantic  has received delivery of the ice strengthened AHTS Njord Viking from the Astilleros Zamakona S.A shipyard in Spain. [Read More] Source: Marine Lo...

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Carriers suffer reliability declines

Following two consecutive increases in the second and third quarters of 2010, container service reliability disappointingly fell back in the fourth quarter, according to Drewry Maritime Research’s latest Schedule Reliability Insight report. [Read More] Source: Baird Maritim...

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UK: Marine industry major contributor to economy

The UK’s marine industries contribute £3.7 billion (US$6.0 billion) to the UK economy each year, according to figures released by the Marine Industries Leadership Council. Comprising well over 5,000 companies, the marine industries employ around 120,000 people across the UK and have a combined turnover...

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Hitachi Zosen net profits drop

Japan-based shipbuilding company Hitachi Zosen's net profit dropped in the first three quarters of 2011. [Read More] Source: Seatrade A...

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Maersk teams with Hapag Lloyd

Maersk and Hapag Lloyd will enter into a slot swap agreement between their Mediterranean Gulf Express (MGX) service and Maersk's WestMed service. [Read More] Source: MI...

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Husky oil upgrader running at about half capacity

Husky Energy Inc's  Western Canadian heavy oil upgrader is running at 40 percent to 50 percent of capacity as the company makes repairs following a fire last week, a spokesman said on Wednesday. [Read more] Source: Reut...

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Putin Tells Regulators to Investigate Fuel Price Rise

Prime Minister Vladimir Putin has told the Federal Anti-Monopoly Service, or FAS, to open an anti-monopoly investigation into instances of unfair fuel price hikes. "The Energy Ministry and other agencies are working to stabilize the market and are working with...

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BIMCO Demands Safety in Arabian Sea

Amid almost daily pirate attacks, The Baltic and International Maritime Council warned Indian officials its members would find other routes if the shipping lanes between India and Africa could not be made safe. [Read More] Source: Journal of Comme...

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Qatargas says LNG production from train 7 has started

Qatargas has produced the first liquefied natural gas (LNG) from its new train seven plant, the company said on Wednesday. Royal Dutch Shell owns 30 percent of the 7.8 million tonne a year (mtpa) LNG plant in Qatar -- already the world's biggest LNG exporter --...

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Largest container vessel set for Lagos

Maersk Line is set to introduce the largest container vessel to the country this week.The Managing Director, Public Affairs of the Nigerian Ports Authority (NPA), Chief Michael Ajayi made this known in Lagos when he took reporters to the site of removed wrecks...

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MSC quashes rumours about new service offerings

GENEVA's Mediterranean Shipping Company (MSC) has denied rumours flooding the market that it is planning new services between Asia and Europe including Mediterranean ports. [Read More] Source: Sea New...

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Indonesia's first LNG receiving terminal to be delayed to 2012

Indonesia's first liquefied natural gas receiving terminal near the capital Jakarta will begin operating in the first quarter next year, a delay from an expected September 2011 start, said chief economic minister Hatta Rajasa on Wednesday. [Read more] Source:...

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Hapag-Lloyd Swings to $133 Million Operating Profit

Hapag-Lloyd swung to an operating profit of $133 million in the final quarter of 2010 from a year-earlier loss of $211 million as rising cargo volume and sharply higher freight rates accelerate plans for an initial public offering of the world's sixth-largest...

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TNK-BP troubled with field auction

Gazprom controls Russian access to Asian markets, complicating an auction for shares of one of the biggest gas fields in Russia, TNK-BP complains. TNK-BP, an Anglo-Russian venture between Russian business tycoons and British energy company BP, said it delayed an auction for the Kovykta field for two...

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Suez is back to work, but the future feels very uncertain

Residents of this industrial city find hope in the growing signs of stability on their streets, after days of upheaval that has paralysed the local government and its once powerful security network. [Read More] Source: The Nationa...

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Small ships to unlock rate boon for bulk owners

Dry cargo shippers with smaller vessels are shifting to more-risk, more-reward spot markets, eyeing rising demand for sugar and grains — commodities well suited to versatile supramax and handysize ships. [Read More] Source: Reuters (Bl...

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Coastal subsidiaries sell vessels for RM268m

Coastal Contracts Bhd's wholly-owned subsidiaries have collectively secured contracts for the sale of seven offshore support vessels, three tugboats and two oil barges for an aggregate value of about RM268mil. [Read more] Source: The S...

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Chevron Announces Further Natural Gas Find in Australia

Chevron Corporation today announced a further drilling success in the Carnarvon Basin offshore Western Australia, Australia’s premier hydrocarbon basin. The Orthrus-2 well is located in the WA-24-R permit area approximately 60 miles (100 kilometers) northwest...

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Newbuilding orders could resume on China’s return from holidays

With the dry bulk market finally picking up speed after a long, arduous journey downwards, dry bulk ship owners are expected to come back to the newbuildings’ market, but not with the same vigor as before. [Read More] Source: Hellenic Shipping New...

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Eni starts production from the Nikaitchuq field in Alaska

Eni began oil production at the Nikaitchuq field, located offshore the North Slope of Alaska at an average water depth of 3 meters. The field, which is Eni’s first operated Arctic project, is 100% owned and operated by Eni with recoverable reserves estimated at...

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Pirates hijack U.S.-bound oil tanker off Oman

Suspected Somali pirates captured a U.S.-bound tanker carrying around $200 million (124 million pounds) worth of crude oil in the Indian Ocean on Wednesday in one of the biggest hijackings in the area so far. [Read More] Source: Reut...

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Somali Pirates Release Korean Trawler

The Korean trawler Geummi 305 was freed Wednesday, 124 days after it was hijacked by Somali pirates on Oct. 9 last year, a senior government official said. [Read More] Source: The Chosuni...

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Malaysian oil and gas sector to see a rise in activity in 2011

The Malaysian oil and gas industry is expected to see a rise in activity in 2011 following the government's announcement of new tax incentives for the sector and a restructuring of national energy company Petronas' management committee and board of directors,...

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ABB Wins Marine Order Worth Over $50 Million

ABB, the leading power and automation technology group, has won an order worth over $50 million to provide power and propulsion systems for two next-generation cruise ships to be built by Meyer Werft at its shipyard in Papenburg, Germany for Norwegian Cruise Line. The order was booked in the fourth...

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Statoil announces 2010 fourth quarter results

Statoil's strategy update, fourth quarter and preliminary 2010 Operating and Financial Review. Statoil today presents its fourth quarter results and its Strategy Update. Statoil's fourth quarter 2010 net operating income was NOK 42.8 billion, compared to NOK 33.5...

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ABG Shipyard sees Rs 3,000 cr orders by Dec

Shipbuilder ABG Shipyard expects fresh orders worth Rs 2,000-3,000 crore by December, a bulk of it coming from the booming offshore and defence sectors, a top official said on Wednesday. [Read More] Source: Business Standar...

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Polarcus: Steel cutting ceremony – Polarcus 14 streamer vessel NB292

Polarcus Limited  is pleased to announce that the official steel cutting ceremony of newbuild NB292 took place on 07 February 2011.   Vessel NB292 is the first of two newbuilds ordered from Ulstein Verft AS of Norway and announced by Polarcus on 18 November...

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Total deal leads to 20 new jobs at EnerMech

ENERMECH, the Aberdeen-based mechanical engineering group, yesterday said it would create 20 jobs after being awarded a five-year contract with Total E&P UK, worth an estimated £10 million, writes Mark Smith. The contract for crane services covers the Elgin, Franklin, Alwyn and Dunbar platforms...

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VLOC newbuilding contract for Japanese yard‎

Tokyo-based NS United Kaiun Kaisha has concluded a contract to build a 335,000 dwt ore carrier with Japanese shipbuilder Imabari Shipbuilding for delivery in the first half of 2014. [Read More] Source: Motors...

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Turkey's Shipbuilding Industry Flounders

The number of active Turkish shipyards has plummeted 60 percent since 2008 according to Today’s Zaman. [Read More] Source: Dredging To...

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German Shipbuilding Counts On KfW IPEXBank

KfW IPEX-Bank again provided significant support to the German shipbuilding industry in 2010 by extending financing for 19 ships for export. [Read More] Source: The Maritime Execut...

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Hyperdynamics to Issue Invitation to Tender to Drilling Companies

Hyperdynamics Corporation announced today that AGR Petroleum Services, its well management company, issued an Invitation to Tender to drilling companies as part of its exploration program offshore in the Republic of Guinea.  The tender covers the drilling of two wells plus an optional third well...

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Renaissance eyes Brazil to deploy support vessels

Renaissance Group, one among the top ten offshore support vessel operators in the world, is seriously considering deploying its vessels to extend support services to oil giants engaged in offshore exploration in the deep waters of Brazil and West Africa.  [Read...

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Oil States receives contract from PTTEP to supply offshore marine cranes

Oil States International, Inc., a manufacturer of marine cranes and provider of products and services to the offshore and onshore oil and gas industry, has announced that its subsidiary, Oil States Industries Ltd., has received a three-year contract valued at approximately $14 million to supply offshore...

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Western Australian oil fields restart after cyclone

Oil production at several offshore fields in Western Australia has restarted after operations were halted in late January as a precaution ahead of Cyclone Bianca, company officials said on Wednesday. [Read more] Source: Reut...

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Statoil Reports Small Discovery in Norwegian North Sea

Statoil Petroleum AS, operator of production licence 303, has completed the drilling of wildcat well 15/6-12, located about 12 kilometres north of Sleipner Vest in the central part of the North Sea.  The purpose of the well was to prove petroleum in Middle...

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Tap Oil announces Zola-1 well drilling update

Tap Oil Limited provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia. Location / Proposed Depth The Zola-1 well is located in permit WA-290-P, immediately south of the giant Gorgon gas field in the Carnarvon...

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Norway: Bergen Group Wins Offshore Cranes Contract

Bergen Group Dreggen AS, a subsidiary of Bergen Group ASA, has been awarded a new contract for the delivery of two large crane units to a European customer. Total order value is NOK 35-40 million, and the delivery is expected to be completed in Q3 2011. [Read...

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Australia: OceanWorks Forms Starategic Alliance Down Under

OceanWorks  has recently signed a formal teaming agreement with The Underwater Center Fremantle (TUCF) and Ocean Technix, both located in Western Australia, to provide submarine rescue and atmospheric diving related equipment and services to both the Royal...

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Wildlife group warns planned offshore drilling could harm Mediterranean sea life

One of the world's most important environmental organizations, the World Wildlife Fund, warned yesterday about the ecological impact of planned natural gas drills in the eastern Mediterranean, first and foremost those planned by Israel and Egypt. [Read mroe] Source:...

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