Repsol to Delist ADSs from New York Stock Exchange by March 4

Repsol YPF SA will delist its American depositary securities and terminate the registration of ordinary shares and ADSs from the New York Stock Exchange due to the low volume of trading of the securities, Repsol said late yesterday in an e-mailed statement. [Read...

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Neon Energy Limited North San Ardo Drilling Success

Neon Energy Limited is pleased to announce the successful completion of drilling operations on the Lombardi 14-27H well at the Company’s 100% owned North San Ardo oil field in California, with the well currently producing at an estimated average rate of 475 bopd....

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Brazil labor inspectors halt Petrobras platform

Brazilian state oil company Petrobras said on Thursday it began halting operations of a small offshore oil platform following orders by labor inspectors who determined it was not safe. [Read more] Source: Reut...

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Kenai LNG plant to close doors

Employees at the Liquified Natural Gas (LNG) plant in Nikiski were notified on Wednesday the plant will be shutting down later this spring. The plant is co-owned by ConocoPhillips and Marathon Oil, with ConocoPhillips operating the plant. ConocoPhillips representative...

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Exxon Seeks Partners for Polish Shale-Gas Concessions

Exxon Mobil Corp., the largest U.S. oil company, is seeking partners for four concessions in the Podlasie natural-gas shale basin in Poland. The company owns the concessions and will retain its role as operator, according to a posting on a Schlumberger Ltd.- operated website today. A concession is a...

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Saipem's muted outlook after profit rise hits shares

A conservative outlook from Italian oil services firm Saipem sparked profit-taking on Thursday following higher than expected fourth-quarter profits as the industry benefits from a stronger oil price. Shares in Europe's biggest oil services group were down 3.3 percent by 1601 GMT as the STOXX Europe...

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Drydocks World launches offshore support vessel

Drydocks World, a leading player in the maritime and offshore industry, has completed the launch of Anchor Handling Offshore Support Vessel Olympus Crest at its shipbuilding yard in Nanindah, Indonesia. [Read more] Source: Trade Arabi...

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Offshore oil workers evacuated from North Sea platform

Nearly 40 oil workers have been taken off a North Sea platform. Two helicopters evacuated 38 non-essential staff from the North Everest platform following a gas leak – which is now under investigation by the UK Government’s Health and Safety Executive. Production...

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Noble Energy 4Q Profit Widens on Israel Oil Production

Fueled by widening demand for crude oil in the U.S. and Israel, Noble Energy (NBL) reported on Thursday a much stronger-than-expected fourth-quarter profit, though its shares slipped in morning trade as its revenue missed Wall Street estimates. The Houston-based company posted net income of $52 million,...

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SCF Group Expands Fleet to Support Sakhalin-1 and Sakhalin-2 Projects

SCF Group acquires six Aframax shuttle-tankers from OAO Primorsk Shipping Company (PRISCO Corporation) and expands its participation in servicing the Sakhalin-1 and Sakhalin-2 projects. Of the six crude-oil shuttle-tankers, Captain Kostichev, Viktor Titov, Zaliv...

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Tanker robbed off Malaysia

ARMED robbers have used “a diversionary tactic” to steal from the crew of a Japanese chemical/products tanker off Malaysia, ReCAAP ISC reported today. [Read More] Source: Safety at ...

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KNOC Plans to Spend $4 Billion on Oil Assets, Targets 33% Output Increase

Korea National Oil Corp., a state- run energy resources developer, plans to invest as much as $4 billion in overseas oilfields this year as it aims to increase crude production by 33 percent. “We’re interested in assets in Africa, Europe, Asia, the U.S. and Canada,”...

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Piracy is now ‘spinning out of control’

INTERTANKO has warned that piracy “is now spinning out of control into the entire Indian Ocean". Joe Angelo, the head of the International Association of Independent Tanker Owners, also told Reuters: "If piracy in the Indian Ocean is left unabated, it will strangle...

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Tullow finds more oil in Ghana’s Teak-1 well

The leading oil producer in Ghana, UK based Tullow Oil says it has discovered more oil in Ghana. The company announces in a press statement copied to ghanabusinessnews.com Thursday February 10, 2011 that its Teak-1 exploration well in the West Cape Three Points...

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

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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Somali pirates released from Danish warship

The Danish warship Esbern Snare has released six Somali men, who have been in custody onboard the vessel since December 30, 2010. [Read More] Source: Ship...

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Happily Ever After

They say that a sailor has a girl in every port but the ‘old salts’ at a care home in Surrey have revealed their tips for a long and happy marriage as the nations thoughts turn to romance and bliss as Valentines Day and the Royal Wedding approach. [Read More] Source: Ship T...

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Transocean receives three-year contract from Statoil for semi-submersible rig

Transocean Ltd., an offshore drilling company, has announced that its high-specification semi-submersible rig has received a three-year contract from a subsidiary of Statoil ASA for operations in Norway.The contract, which has a one-year extension option, is expected...

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French Dockworkers Suspend Strikes, Resume Talks

French dockworkers Feb. 10 suspended a six-week-long campaign of strikes after port employers agreed to resume negotiations on union demands for early retirement. [Read More] Source: Journal of Comme...

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Ensco plc orders two new Ultra-Premium Harsh Environment Jackup Rigs

Ensco plc announced today that one of its subsidiaries has finalized a fixed-price shipyard construction contract with Keppel FELS Limited (“KFELS”) in Singapore for construction of two new ultra-premium harsh environment jackup rigs. Including commissioning,...

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Multraship christens tug pair

Multraship christened its two newest Azimuth stern-drive multipurpose tugs in a ceremony at the Portaal van Vlaanderen in Terneuzen, the Netherlands, on February 4. [Read More] Source: Baird Marit...

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Gorgon project Safety Under Fire After Near Sinking off Barrow Island

On Sunday, February 6, the multi-cat vessel Boskalis BKM 102 was working on the Gorgon Project off Barrow Island at 9.30pm when it ran over the dredge anchor, ripping open its hold and oil tank. “We had four crew on the vessel with the Dutch captain and it was...

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Ulstein Group Provides Complete Control Package for Four PSVs

UPC will deliver a complete power and control package for four platform supply vessels. Two ships (P801) are under construction at ETP yard in Brazil, while two (PX121) are to be built at Ulstein Verft. [Read more] Source: Offshore Energy To...

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Statoil reports well incident aboard Deepsea Atlantic rig offshore Norway

Statoil reported that at 03.25 on Thursday morning a well incident was detected on the exploration rig Deepsea Atlantic.  The well has been closed for seven days owing to bad weather conditions on the field. Normal procedures are followed after such an incident...

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New steering control system introduced

The German navigation system supplier Raytheon Anschütz has introduced a new advanced steering control system NautoSteer AS to the market which will be available for commercial and naval vessels by the end of the year. [Read More] Source: Motors...

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Indian PM set to open India’s first transhipment hub

The opening of India's first transhipment hub at Kochi today by Prime Minister Manmohan Singh is set to shake up regional container trades. [Read More] Source: Seatrade A...

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Maersk Oil to keep Gryphon FPSO shut for months after sustaining storm damage in the UK North Sea

After sustaining damage from a storm last week, the Gryphon oil and gas field development will remain shut-in for “a considerable time,” reports operator Maersk Oil. During heavy storms last Friday in the UK North Sea, four of the ten anchor chains broke on the...

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Japan has 71 ships to build at the beginning of the year

The combined newbuilding output of Japan's major 52 shipbuilders during December 2010 came to 28 ships of 1.2m GT, totally worth JPY125.1bn (US$112m). There were 71 ships of 2.3m GT started to be built, according to Ministry of Land, Infrastructure, Transport and Tourism (MLIT). The delivered 28 ships...

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Beluga Cape Town sets sail

Beluga Cape Town, Beluga Shipping's latest P-class vessel, has set off on its maiden voyage to transport oil and gas equipment from Mokpo, Masan and Pyeong Taek, Korea to Skikda in Algeria. [Read More] Source: Heavy L...

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2011 Newbuild Rig Analysis

RigZone is out with their 2011 outlook on Deep and Shallow water newbuilds on order from exploratory drilling companies worldwide. [Read More] Source: gCapt...

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Bergen Group announces Interim report for Q4 2010 and preliminary full year 2010

Bergen Group performed a strong boost in the group’s order book during Q4 2010. Compared to previous quarter, the turnover is increasing and the profit margin has improved to an EBITDA of 4.4 %. The general outlook for the group’s market areas is considered positive...

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Diversification Keeps Gulf Vessel Builders Afloat

Companies building vessels on the U.S. Gulf are servicing a flock of domestic and overseas clients while their offshore oil and gas customers wait for Washington to issue more drilling permits and safety rules. Some of the region's builders are busy making repairs....

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U.S.A: Christie Vetoes Offshore Gas Terminal Project

Governor Chris Christie has vetoed a proposal that would allow a liquified natural gas terminal off the coast of New Jersey in a move that environmental groups are calling a major victory in the fight to protect the marine environment. The veto came on Tuesday. [Read...

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Prisco sells six tankers to Sovcomflot

Primorsk International Shipping Limited ("Prisco") wishes to announce the "en bloc" sale by Prisco and purchase by OAO Sovcomflot ("SCF") of six tanker vessels employed on the Sakhalin shuttle trades. The terms of the sales are confidential. [Read More] Source:...

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Mærsk sells more ships to MSC

A P Møller-Mærsk has reportedly sold another three older container carriers to Mediterranean Shipping Company (MSC). The three vessels in question are Maersk Maine, Maersk Vermont and Maersk Marylund. The price tag is said to be USD 10.5 million per unit. [Read More] Source: ship...

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Bond issue by CMA CGM

CMA CGM could be about to raise an extra US$800 million through a high-yield bond issue to help secure its financial base. [Read More] Source: ...

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Subsea Business Awards: The Outstanding Achievement Award To Mel Fitzgerald

Mel Fitzgerald, Director of Subsea 7 S.A. and former Chief Executive Officer of Subsea 7, was last night recognised for his significant and positive impact on the subsea sector. The Outstanding Achievement award was made by Subsea UK at its annual Subsea Business...

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Maersk threatens congestion charge at St Petersburg

Maersk Line has warned it may introduce a congestion surcharge at the port of St Petersburg and that it can no longer guarantee which terminal cargo will be delivered to. [Read More] Source: ...

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SOLDIERS ON SHIPS WOULD HELP WITH PIRACY, SAYS NATO

Having military personnel aboard ships would help combat piracy in the Indian Ocean, the chairman of NATO's Military Committee said after an Italian oil tanker was seized by Somali pirates on Tuesday. [Read More] Source: Maritime Connec...

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Unrest in Egypt and Suez Canal Could Have Major Economic Impact

Defense analysts agree that the Egyptian uprising against Hosni Mubarak does not yet threaten the Suez Canal, which remains essential to U.S. energy security.  While Egypt is not among the region's oil producing nations, if the Mubarak regime is replaced by a strongly anti-American regime, access...

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Mideast Tanker Surplus Shrinks as Chinese Holiday Ends

A surplus of supertankers competing for 2 million-barrel cargoes of Middle East oil shrank as a weeklong holiday ended in China, the world’s second-biggest importer of crude. [Read More] Source: Bloomb...

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BMT Recognised Amongst Top 100 Fastest Growing Companies in Europe

BMT Group Ltd, the leading international maritime design, engineering and risk management consultancy, has been recognised for its outstanding achievements in generating sustainable growth and jobs by Europe’s 500, a non-profit organisation which promotes entrepreneurship. [Read...

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Dry bulk market heating up on fresh cargo demand

The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advantage of the improved conditions. [Read More] Source: Hellenic Shipping N...

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Hyundai scores 26% of order target

Tokyo-based Daiwa Securities says that Korea's Hyundai Heavy Industries has already achieved overall $3.23bn in new orders, 26% of its new order target for this year, despite January and February being usually off-seasons for the shipbuilding industry. [Read More] Source: Asia...

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Fuel efficiency, key to future

As shipowners face high oil prices and deteriorated shipping market conditions, demand for fuel-efficient ships is increasing. [Read More] Source: Asia...

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Nord Stream wins project finance award

Nord Stream has won the award for European mid-stream gas project of the year at this year’s Project Finance Awards ceremony. The awards recognise innovation, deal repeatability, best practice, problem solving, risk mitigation, value for money and speed of delivery...

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FAIRSTAR HVY TRNSP : HEAVY TRANSPORT NV releases 2010 Fourth Quarter results and publishes fleet utilization update for 2011/2012/2013

Fairstar Heavy Transport NV (FAIR) announced today an EBITDA loss of USD 2.7 million for the Fourth Quarter of 2010. Fleet utilization of FJORD and FJELL for the quarter was 32%, the lowest level ever experienced by Fairstar since the FJORD and FJELL went into...

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C-NLOPB says it will review the TSB Report and decide next steps

The Transportation Safety Board (TSB) has completed its thorough investigation into the cause and contributing factors behind the crash of Cougar Flight 491. The TSB report provides very valuable insight into the reasons for the accident and the factors that played...

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Steel and Canal shipyard workers strike in Suez continues

In an escalation of industrial action in Suez, workers at the national and Egyptian Steel companies and the Suez Canal Port Authority shipyard were among those staging strikes and sit ins for being deprived their material rights. [Read More] Source: Steel G...

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Wärtsilä appoints Björn Rosengren President and CEO as of 1 September 2011

Wärtsilä's Board of Directors has appointedMr Björn Rosengren M.Sc. (Tech.), born 1959, as the new President and CEO ofWärtsilä Corporation. He will assume the position on 1 September 2011,succeeding Mr Ole Johansson, who will retire. [Read more] Source: Your...

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Northrop signals spinoff of shipbuilding is near

Sending another signal that a spinoff of its shipbuilding business is near, Northrop Grumman Corp. on Wednesday excluded the unit's projected revenues in its 2011 financial forecast. [Read More] Source: Trading Mar...

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S. Korean shipbuilder's 'regret' at fatal sinking

South Korean shipbuilder Hyundai Heavy Industries expressed regret Thursday over the sinking of a Cambodian-flagged freighter that left four Russian sailors dead and seven missing. [Read More] Source: ...

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CSL bags Shipping Corp contract

Cochin Shipyard Limited (CSL) has signed contracts for two 120-tonne Bollard pull anchor-handling tug supply (AHTS) vessels with Shipping Corporation of India Ltd (SCI) [Read More] Source: s...

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Croatia Selects Jadranska Ulaganja to Buy Rijeka Shipyard

Croatia selected Zagreb-based Jadranska Ulaganja d.d. to buy its share of the 3 Maj shipyard in the country’s largest port of Rijeka as part of its efforts to overhaul the ship-building industry. [Read More] Source: Bloomb...

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Indonesian yard launches AHTS vessel

Drydocks World recently launched the anchor handling offshore support vessel ‘Olympus Crest’ at its shipbuilding yard in Nanindah, Indonesia. [Read More] Source: Motors...

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Beach Energy Limited Non Cash Write Down Of Basker Manta Gummy Project

As part of its bi-annual impairment review and in accordance with its policies, Beach Energy Limited intends to write down its share in Basker-Manta-Gummy project (BMG) to a nominal value, in light of BMG moving to a non-production phase and as planning proceeds...

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Gamesa, Northrop Launch Offshore Wind Technology Center In Virginia

Gamesa Technology Corp. and the shipbuilding operations of Northrop Grumman Corp. have launched the Offshore Wind Technology Center in Chesapeake, Va., to jointly develop the next generation of offshore wind systems that will be deployed in the U.S. and around...

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New turbine for Fundy tidal project

A fourth berth in the Bay of Fundy has been awarded to a U.K.-based company to test a tidal turbine, the government of Nova Scotia announced on Thursday. [Read More] Source: CBC N...

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