Seguin man killed in drilling rig accident

A 10-year-old boy in Seguin spent Tuesday picking out a headstone, casket and funeral flowers for his father, who was killed while trying to save a coworker in a West Texas oil field accident. [Read More] Source: m...

Posted on 2/22/2011 / 0 comments / Read More

WORLEYPARSONS 1H PROFIT DOWN 7%

WorleyParsons Ltd's first-half profit declined 6.8 per cent as the engineering services provider said the markets for its services were likely to improve in the second half. Net profit fell to $128.6 million for the six months to December 31 compared with $138...

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FLUOR TO PERFORM EARLY WORKS IN IRAQ FOR EXXONMOBIL

Fluor Corporation announced today that ExxonMobil Iraq Limited has awarded the firm an early works program contract for the West Qurna (Phase I) field near Basra, Iraq. The engineering, procurement, construction and management contract is a reimbursable continuing...

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Arrival of Cuba offshore oil rig delayed again

Delivery of a Chinese-built drilling rig that will open the first full-scale exploration for oil in Cuban waters looks unlikely until at least August in the latest delay to beset the project, sources said this week. [Read more] Source: Reut...

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Norway. GC Rieber Shipping charter party with Technocean for the CSV 'Polar King'

GC Rieber Shipping has today entered into a charter party with Technocean, a subsidiary of Reef Subsea, for the CSV "Polar King" (previously "YN 702"). The charter commences in April 2011 for a 3 years firm charter period. The agreement also includes options for...

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Abraxas Announces Production Rates for First Eagle Ford Well

Abraxas Petroleum Corporation today announced production rates for its first Eagle Ford well in South Texas. In DeWitt County, Texas, Blue Eagle Energy, LLC, the previously announced joint venture between Abraxas and Rock Oil Company, LLC, drilled the T Bird 1H to a total measured depth of 19,450 feet,...

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Clear contrast in newbuild market

While newbuilding orders for bulkers and tankers stayed depressed during January this year, both containerships and LNG carriers led the newbuilding market. [Read More] Source: Asia...

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Hanjin resells boxship

Korea's Hanjin Heavy Industries & Construction announced yesterday that it canceled the newbuilding contract for one containership received on 3rd March 2005 because of shipowners' fail to pay deposit. [Read More] Source: Asia...

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FMC Technologies Awarded $75 Million Contract to Support Ekofisk Field

FMC Technologies, Inc. announced today that its subsidiary, FMC Kongsberg Subsea AS, has signed an agreement with ConocoPhillips Scandinavia AS for the manufacture and supply of subsea equipment and services for a water injection development in the Ekofisk field....

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Spain fines operator of grounded ship

SPAIN'S merchant marine authority DGMM today ordered a grounded box ship’s operator to pay €310,000 ($423,800) in the casualty. [Read More] Source: safety at ...

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Asia robberies shift location

ARMED robbers are targeting fewer vessels in Indonesia, but those in the Strait of Malacca and off Singapore are at greater risk, according to ReCAAP ISC. [Read More] Source: safety at ...

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Somali pirates murder four American hostages held on S/V Quest

The four American hostages held aboard the hijacked yacht Quest by Somali pirates have been murdered by their captors. Of the 19 pirates believed involved in the incident, four are dead and 15 are in U.S. custody [Read More] Source: Marine ...

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New safety system for OSV rescue craft

UK company SE Hydraulics has partnered with Parker Hannifin to develop a passive damping system for use on the rescue craft davits of BP’s regional support vessels (RSVs). [Read More] Source: Motors...

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Two more Rickmers container giants named

17 February saw the naming of two more 13,100 TEU container vessels for Rickmers Group. ‘Leo Rickmers’ and ‘Scorpio Rickmers’ will be chartered to Maersk Line as ‘Maersk Edmonton’ and ‘Maersk Elba’. [Read More] Source: Motors...

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BP to Sell Package of UK Upstream Assets

BP announced today the intention of selling its interests in a number of operated oil and gas fields in the UK. The assets involved are the Wytch Farm onshore oilfield in Dorset and all of BP's operated gas fields in the Southern North Sea, including associated pipeline infrastructure and the Dimlington...

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Petrobras Buys 50% of Offshore Oil Block in Benin, Africa

Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, said it acquired a 50 percent stake in an offshore block in Benin as it expands in Africa. A unit of Lusitania Petroleum holds the other 50 percent of Block 4, Petrobras, as the Rio de Janeiro-based company is known, said today in a regulatory...

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Libya: Italian oil giant suspends supply from Libya

Italy's largest oil and gas company announced that natural gas supplies from Libya had been cut off, with the government in Rome warning that it has just 30 days' worth of gas reserves and enough oil to last 90 days. [Read more] Source: The Telegr...

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Subsea 7 wins Chevron contract in GOM

Subsea 7 has been awarded an engineering and installation contract by Chevron U.S.A. Inc. for Tahiti Phase 2 development in the Gulf of Mexico. [Read more] Source: Scandinavian Oil & Gas Magaz...

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Cal Dive Awarded Pemex Contract

Cal Dive International, Inc. announced today that it has been awarded a contract by Pemex Exploración y Producción for the installation of a 20” inch subsea pipeline located in the Abkatun Field in 24 meters of water. The lump sum contract will generate total...

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Shell: Prelude FLNG Go-Ahead 'Next Few Months,' More Planned

Royal Dutch Shell PLC (RDSA) said Tuesday that it expects to sign off on its first floating liquefied natural gas project within months, and plans to build at least six FLNG plants around the globe. [Read more] Source: Royal Dutch Shell ...

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North Energy Bolsters its Presence in the Barents Sea and the Norwegian Sea

North Energy will participate in this year’s first exploration well in the spring. The company will participate in at least three exploration wells in the Barents Sea in 2011, and this makes North Energy one of the oil companies with highest exploration activity...

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Statoil to proceed with Gullfaks upgrade

Petroleum Safety Authority (PSA) Norway has approved Statoil’s plan to upgrade the water injection system at the Gullfaks B platform in the North Sea. The modification is designed to increase capacity from a current of 35,000 cu m/d (1.24 MMcf/d) of water to 70,000...

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Laid up coaster sold to Norway

The laid up coaster Dantic has been sold to a Norwegian buyer and is now underway to Kopervik in tow by the Danish tug Vitus. [Read More] Source: Ship...

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Iran naval ships enter Suez Canal, set to anger Israel

Two Iranian naval ships entered the Suez Canal on Tuesday and were heading toward the Mediterranean, a canal official said, a move certain to anger Israel. [Read More] Source: Reut...

Posted on 2/22/2011 / 0 comments / Read More

DELPH Subsea Mapping Software for EGS

Marine survey specialist EGS International, UK, has become the latest customer for iXSea's DELPH Seismic and Sonar subsea mapping software. EGS will use the software to support marine survey operations in the UK and overseas in the oil and gas, marine infrastructure,...

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Sea freight continues to Libya

Libya-bound sea freight is continuing to move from the UK to the North African country despite news that all three ports have closed. [Read More] Source: ...

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Spanish oil company Repsol suspends operations in Libya

Spain's biggest oil company, Repsol, has halted production in Libya as anti-government protests in the country spread, a company spokesman said Tuesday. "We have today suspended all our operations in Libya," he said. [Read more] Source: Expatica....

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Sinopacific Shipbuilding Group Adopts Unique Approach to Corporate Social Responsibility

Looking back in the year 2010, we have witnessed that the term ‘charity’ has become an increasingly popular keyword in Chinese society, from Bill Gates and Warren Buffett's charity banquet, to all-out donations and to civil charities.This public topic has also...

Posted on 2/22/2011 / 0 comments / Read More

Lotos Exploration Resigns from PL 556 Norwegian Sea Offshore Licence

Lotos Exploration and Production Norge, 100% subsidiary of upstream company Lotos Petrobaltic, has resigned from the 50% interest in the PL 556 offshore licence located on the Norwegian Sea awarded to it following completion of the pre-qualification, wnp.pl reports. [Read...

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E.R.Schiffahrt goes global with Viking

When it came time to renew its safety equipment servicing contracts, Germany’s E.R. Schiffahrt, a leading shipowner and ship management company, chose to take a leading edge approach. By custom-tailoring a Shipowner Agreement servicing contract offered by VIKING...

Posted on 2/22/2011 / 0 comments / Read More

Providence plans 3D seismic survey

Irish oil and gas exploration and production firm Providence Resources has today said it is to enter the second phase of FEL 2/04, which contains the Spanish Point gas condensate and Burren oil discoveries in Co Clare. [Read more] Source: Irishtimes....

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Ship Lines Face Overcapacity, SeaAxis Reports

Container shipping lines remain threatened by overcapacity that will peak soon before diminishing later this year as trade volume rises, Paris-based SeaAxis said in its quarterly report on container shipping. [Read More] Source: Journal of Comme...

Posted on 2/22/2011 / 0 comments / Read More

Mitropoulos and Round Table maintain anti-piracy pressure

Within the Action Plan to promote this year’s World Maritime Day theme – Piracy: Orchestrating the Response, a meeting took place at IMO Headquarters on 17 February 2011 between IMO Secretary-General Efthimios E. Mitropoulos and industry and seafarer representatives.  All re-iterated the need for...

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Petrohawk Energy Posts Q4 Loss

Oil and natural gas exploration company Petrohawk Energy Corp. Tuesday reported a loss for the fourth quarter, reflecting various charges, compared to a profit last year. Net income excluding items declined from the prior year and missed analysts' consensus estimates. Revenues for the quarter grew helped...

Posted on 2/22/2011 / 0 comments / Read More

Star Bulk Updates on the Charterers of the Star Gamma

Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced that on February 18, 2011 the Company received a letter from Korea Line Corporation ("KLC"), the charterer of the supramax Star Gamma ("The vessel"), requesting an agreement...

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Marine insurance for shipping firms set to rise this year

Marine insurance for shipping companies has increased significantly over the last year and it looks set to rise even higher this year. [Read More] Source: channelnewsaia....

Posted on 2/22/2011 / 0 comments / Read More

Dry cargo rates seen recovering in Q2

DUBAI: Dry cargo freight rates are likely to recover in the second quarter of 2011 as Brazilian exports of grains and sugar pick up, but rates are expected to move sideways in the second half, a senior freight executive said. [Read More] Source: Business Reco...

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Euroseas Ltd. Reports Results for the Year and Quarter Ended December 31, 2010

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced yesterday its results for the quarter and year ended December 31, 2010. [Read More] Source: SYS-CON ME...

Posted on 2/22/2011 / 0 comments / Read More

Dragon Oil revenues up by record 25% to €780m

EXPLORATION AND production company Dragon Oil has announced full-year pretax profits of $514.7 million, up 49 per cent compared to $344.9 million in 2009. Revenues increased by a record 25 per cent to $780.4 million from $623.5 million while operating profit reached...

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Lamprell Gets New Contract Award From Greatship Global Energy Services

Lamprell Plc said it obtained a new contract award from Greatship Global Energy Services Pte. Ltd. for the construction and delivery of a completely outfitted and equipped, LeTourneau designed, self-elevating Mobile Offshore Drilling Platform of a Super 116E Class...

Posted on 2/22/2011 / 0 comments / Read More

Two stowaways detained over lack of identification after hearing in Halifax

Two stowaways found aboard a container ship in Halifax will remain in custody after failing to provide authorities with identification documents. [Read More] Source: The Canadian Pr...

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Kirby To Buy United Holdings For $270 Mln Cash; Boosts 2011 Outlook

Marine transportation and diesel engine services provider Kirby Corp. (KEX) agreed Monday to buy privately-held United Holdings LLC for $270 million in cash, plus a three-year earnout provision for up to an additional $50 million payable in 2014. The deal, subject to conditions, is expected close in...

Posted on 2/22/2011 / 0 comments / Read More

New WSS Liferaft Exchange Service Station In Darwin

In Wilhelmsen Ships Service’s (WSS) continued expansion of its liferaft service station network, the company is opening a new Liferaft Exchange (LRE) service station in Darwin, NT. The station will be fully operational from March 2011.  [Read more] Source:...

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Cosco more than doubles profit

China-based Cosco Corp's full-year net profit has more than doubled as revenue touched a record on robust orders for shipbuilding and marine engineering projects. [Read More] Source: TODAYonl...

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Diana plots expansion

Diana Shipping may be on the brink of tapping its war chest as it looks to boost its fleet of bulkers with the addition of newbuildings and second-hand tonnage. [Read More] Source: Tradewi...

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Agreement Enables Construction of Two Additional Tankers at Aker Philadelphia Shipyard

Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), announced today that the Commonwealth of Pennsylvania has agreed to partner with the shipyard and to fund the purchase of certain fixed assets...

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Drydocks World subsidiary raises $265m

A Dubai-based marine geophysical company, in which Drydocks World Dubai has 9.4% stake, has secured financing to fund its newbuild orders and is on track to become one of the top five players in its field by 2012. [Read More] Source: za...

Posted on 2/22/2011 / 0 comments / Read More

Yangzijiang sees Q4 net profit of S$163.2m

China-based Yangzijiang Shipbuilding posted a net profit of 838.1 million yuan (S$163.2 million) for the fourth quarter ended December, up 30 per cent from the year-ago period as revenue rose 19 per cent to 4.09 billion yuan. [Read More] Source: Today Onl...

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The cargo ships so big they could carry all the tea in China

These are the incredible super-ships set to dominate the ocean when they hit the waves in just two years. The mammoth freight carriers will be the largest in the world, ferrying 18,000 enormous containers packed with goods from Asia. Costing £111million apiece,...

Posted on 2/22/2011 / 0 comments / Read More

Americans on hijacked yacht slain, defense official says

Four Americans on board a yacht hijacked by pirates last week are dead, according to a defense official with knowledge of military activities in the region. [Read More] Source: ...

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