Aban JV in contract for early redelivery of drillship

Aban Offshore, which provides offshore services to the oil sector, said on Friday its joint venture, Venture Drilling AS , has signed an agreement for early redelivery of a drillship to its Russian owner.  [Read more] Source: Economic Ti...

Posted on 2/24/2011 / 0 comments / Read More

China Sinopec to participate in Brazil oil rounds

China's Sinopec Corp said it planned to participate in Brazil's next oil and gas bidding rounds, which should be restarted after the passage of a reform of the country's oil law expected this year. [Read more] Source: Reut...

Posted on 2/24/2011 / 0 comments / Read More

Pennsylvania Gas Well Blast Injures 3 Workers

An explosion and fire at a gas well injured three workers Wednesday night, authorities said. The blast, at the Chesapeake Appalachia LLC Powers site in Avella, was reported at about 6:20 p.m., Washington County emergency officials said. [Read more] Source: Fo...

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Anadarko shuts Ivory Coast operations

Anadarko Petroleum Corp shut its Ivory Coast operations in February because of political unrest in that country, the U.S. oil and gas company said Wednesday in a filing with regulators. [Read more] Source: Reut...

Posted on 2/24/2011 / 0 comments / Read More

Repsol 2010 net income triples to 4.69 billion euros

Repsol posted net income of 4.693 billion euros for 2010 compared to 1.559 billion euros in the previous year. Excluding extraordinary items, recurring net profit improved 54.9% to 2.360 billion euros. [Read more] Source: Your Oil & Gasn New...

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Daewoo hopes another 10 boxships

Korea's Daewoo Shipbuilding & Marine Engineering seems to obtain optional 10 boxships of 18,000 TEU with ease from Denmark's AP Moller-Maersk no later than May. [Read More] Source: Asia...

Posted on 2/24/2011 / 0 comments / Read More

ATP Announces Strategic Expansion into Offshore Israel

ATP Oil & Gas Corporation is expanding its deepwater operating and infrastructure expertise to offshore Israel. Subject to approval of the Ministry of National Infrastructures (MNI), ATP has signed agreements to acquire five licenses, of which two are pending, in approximately 4,000 feet of water. T....

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Chinese upgrade shipbuilding-tech

Chinese shipbuilders, who used to flood the market with a huge amount of newbuildings, are increasingly moving to high value-added ships that require high technology, threatening Korean counterparts. [Read More] Source: Asia...

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Pirates say they’re bolstering 30 hijacked ships with men

Pirates in Somalia said Wednesday they are ferrying ammunition and men to the 30 hijacked vessels still under their control, and they threatened to kill more captives after the violent end to a hostage standoff that left four Americans dead. [Read More] Source:...

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Eni: new successful well at super-giant Perla gas field, offshore Venezuela

Eni announces the successful results of the Perla-4 appraisal well, located in the Cardón IV Block in the shallow water of the Gulf of Venezuela. This well upgrades the estimate of gas in place of the Perla field, a super-giant gas discovery, to over 16 Tcf (2.9...

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KR plans to increase inspection charge

Korean Register of Shipping (KR) is planning to lift the vessel inspection fee that has not been increased for three years due to the recent shipping and shipbuilding industries' depression. [Read More] Source: Seatrade A...

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Christchurch quake: Lyttelton Port badly hit

Lyttelton Port was one of many Canterbury companies counting the cost of the earthquake last night. The port received major damage, said chief executive Peter Davie. [Read More] Source: nzher...

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Australia's LHD01 hull launched in Spain

The hull of the first of the Royal Australian Navy’s two new amphibious ships has been launched in Spain. “These ships are officially known as Landing Helicopter Docks or LHDs and are the largest the Australian Navy has ever owned,” Chief of Navy Vice Admiral...

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P&I Club warns on fire preparedness

The London P&I Club says the response to two recent onboard cargo fires has highlighted the value of both fire-fighting training and realistic shipboard drills for ships’ crews. [Read More] Source: Motors...

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Rolls-Royce Bags $81.2MLN Deep Water Anchor Handling Equipment Contract for Vessels in Brazil

Rolls-Royce, the global power systems company, has been awarded a contract by STX OSV Trading to supply technologically advanced anchor handling systems. The equipment will be installed on three vessels operated by offshore services company Norskan for use in...

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Jumbo Shipping decommissions Fairmast

After almost three decades of transporting heavy lift and project cargo, Jumbo's Fairmast will be the first of its two D-Class vessels to be decommissioned. [Read More] Source: Heavy L...

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Apache Restarting Gas Output as Cyclone Floods Chevron LNG Site

Apache Corp. will start its gas plant at Varanus Island today after production was halted by a tropical cyclone that also flooded the site of Chevron Corp.’s Gorgon project off Western Australia. [Read more] Source: Bloomb...

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Indian authorities blamed German freighter for the sinking of fregate INS Vindhyagiri

The "Nordlake" has been placed under civil arrest by the Bombay high court and on Feb 23 was directed not to leave the Indian waters. The vessel had caused damage of approximately Rs 1,000 crore to the fregate "Vindhyagiri" and was accused to have disregarded...

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Floating Oil Platform is Held Firm by Back-Up Lines Made with Dyneema®

Ropes made with Dyneema®, ultra-high molecular weight polyethylene (UHMWPE), are being successfully used to secure rigs, Mobile Offshore Drilling Units (MODUs), Buoyant Turret Mooring (BTM) systems and similar constructions in the offshore oil and gas industry....

Posted on 2/24/2011 / 0 comments / Read More

Japanese shipyards recover with 300pc more orders in January

Ship orders for Japanese yards have more than tripled in January year on year and with gains of 218.5 per cent averaged over 14 consecutive months to 1.5 million gross tons, according to the Japan Ship Exporters Association. This is an increase over the December's...

Posted on 2/24/2011 / 0 comments / Read More

70,000 Seafarer Jobs Seen in Coming Years

Filipino seafarers will find greater opportunity as tens of thousands of seafarer jobs will be available in the next few years. Stein Eriksen, managing director of the Norwegian Training Center-Manila of the Norwegian Ship Owners Association, said more quality...

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Noway. Kongsberg Maritime: eBird Seismic Streamer Control System nominated for prestigious Design Award

Unique 'diving bird' technology highlighted for design innovation Kongsberg Seatex's 'eBird' Seismic Streamer Control System has been nominated for the prestigious Honours Award for Deisgn Excellence by the Norwegian Design Council (NDC). Kongsberg Seatex, Kongsberg...

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ROC suspends Cliff Head production offshore Western Australia

ROC advises that production from the Cliff Head oil field, offshore Western Australia, in which its subsidiary, Roc Oil (WA) Pty Ltd, holds a 37.5 percent participating interest, has been temporarily suspended since February 17, following advice from BP that it...

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No ban on Filipino seafarers on ships sailing Gulf of Aden

The Philippine government will be not ban the deployment of seafarers on board ships that will navigate the Gulf of Aden and other pirate infested areas. [Read More] Source: Manila Bulle...

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Seaspan Seeks 10 New 10,000-TEU Ships

Container shipowner Seaspan said it is negotiating to order up to 10 new ships that would carry up to 10,000 20-foot equivalent units each and have “an innovative design that focuses on improving loadability and fuel efficiency.” [Read More] Source: Journal of...

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Navios Maritime Holdings Receives 2011 Panama Maritime Excellence Award From Panama Maritime Authority

Navios Maritime Holdings, Inc., a global, vertically integrated seaborne shipping and logistics company, announced yesterday it has received the 2011 Panama Maritime Excellence Award from the Panama Maritime Authority. The PMA's highest award was presented to...

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Endeavour Closes Bacchus Transaction

Endeavour International Corporation today announces that its wholly owned subsidiary, Endeavour Energy U.K. Ltd., has received all the approvals necessary to finalize the acquisition of an additional 20% working interest in the Bacchus field in the North Sea from Shell U.K. Limited.  As a result...

Posted on 2/24/2011 / 0 comments / Read More

Tsakos Energy Navigation Announces Two-Year Time Charter Extension for Two Panamax Tankers

Tsakos Energy Navigation Limited yesterday announced two-year time charter extensions for two of its 2009 Korean-built panamax tankers, Chantal and World Harmony. These fixtures will continue with the same charterer, a major South American state affiliated oil...

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Suezmax tanker looking good in the coming months says broker

A new report from London-based shipbroker Gibson said that the Suezmax market could experience a firm rise in earnings over the next few weeks. With the tightening supply of VLCC tonnage in the Atlantic and growing resistance by charterers to rocketing VLCC rates,...

Posted on 2/24/2011 / 0 comments / Read More

SOCAR President meets with heads of BP and ExxonMobil Companies in London

SOCAR (State oil Company of Azerbaijan) President Rovnag Abdullayev has met with BP President Robert Dudley in the head office of this company. SOCAR says exploration of Azeri-Chirag-Guneshli, Shahdeniz fields by BP and SOCAR, long-term cooperation on implementation...

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Offshore drillers eye Brazil boost for deepwater

Leading offshore drilling contractors expect deepwater demand to improve this year as an impending contracting move by Petrobras (PETR4.SA) is likely to prompt other oil executives to secure rigs while they can. [Read More] Source: Reut...

Posted on 2/24/2011 / 0 comments / Read More

Teekay Offshore Partners Q4 Profit Rises

Teekay Offshore GP L.L.C., the general partner of Teekay Offshore Partners L.P. reported fourth quarter GAAP net income attributable to the partners of $50.0 million, compared to $26.7 million in the same period last year. Adjusted net income attributable to the...

Posted on 2/24/2011 / 0 comments / Read More

OSX Hires Engineering Services For WHP-1 and WHP-2

OSX Leasing Group B.V., a subsidiary of OSX, entered into a Letter of Intent (LOI) with Techint Engenharia e Construção S/A ("Techint") on February 21, 2011, in order to initiate the basic engineering of two Wellhead Platforms (WHP-1 and WHP-2), which are to be...

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Rolls-Royce wins anchor handling order

Rolls-Royce Marine has been awarded a contract by STX OSV Trading to supply anchor handling systems for three new vessels for South America. [Read More] Source: Motors...

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Ensco Beats Comfortably

Ensco plc reported fourth quarter 2010 earnings of 90 cents per share from continuing operations, handily beating the Zacks Consensus Estimate of 69 cents. However, results were well below the year-ago quarter’s earnings of $1.40 per share, mainly due to lower...

Posted on 2/24/2011 / 0 comments / Read More

UOB Kay Hian Securities Bullish On Shipyards; Upgrades Keppel

UOB KayHian (Thailand) says jack-up rig orders are “roaring” while containership ordering has begun. The house upgrades Keppel Corp. (BN4.SG) to Buy from Sell, raises its target to S$13.00 from S$9.70, and ups its O&M pre-tax margin assumptions for 2012 and...

Posted on 2/24/2011 / 0 comments / Read More

Origin postpones $1bn from Conoco

ORIGIN Energy has agreed to postpone an expected $1 billion payment from its Gladstone liquefied natural gas partner, ConocoPhillips, as offtake deals and final investment decisions on the $35bn Australia Pacific LNG project loom. [Read more] Source: The Austral...

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NOL to boost orders to address freight shortage

Singapore’s Neptune Orient Lines (NOL) (NEPS.SI), the world’s seventh largest container shipping firm, will order more vessels to address an expected shortage in the global freight market within a few years, its chief executive said. [Read More] Source: The E...

Posted on 2/24/2011 / 0 comments / Read More

ADSB signs MoU for superyacht work

Abu Dhabi Ship Building has signed a memorandum of understanding (MoU) with Egypt-based DeBirs Yachts, under which ADSB and DeBirs will explore various areas of collaboration. [Read More] Source: Motors...

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S.Korea says to invest $266 mln in green ships

South Korea will spend 300 billion won ($266.1 million) over the next 10 years to develop technology for low carbon "green" ships in a bid to reclaim its status as the world's leading shipbuilding country from China. [Read More] Source: Reut...

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Saratoga Resources, Inc. Announces Resumption of Production From Little Bay Field at 336 BOPD and 3200 MCFPD

Saratoga Resources, Inc. today announced that it has resumed production from its Little Bay Field in Saint Mary Parish, Louisiana. The resumption of production from the field follows completion of a workover on the A0311 #1 well and reactivation of the associated gas sales pipeline. Initial production...

Posted on 2/24/2011 / 0 comments / Read More

Seadrill Q4 Profit Down

Seadrill Ltd. reported that its fourth quarter net income attributable to the parent declined to $253.5 million or $0.58 per share, down from $379.1 million or $0.88 per share last year. [Read more] Source: RTT N...

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