Marcon brokers sale of Oceaneering DSV to Peru

Marcon International Inc. of Coupeville, Wash., has brokered the sale of the dive support vessel "Ocean Project" from Oceaneering International, Inc. of Houston, Texas to private South American interests. [Read more] Source: Marine...

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Thailand's LNG import terminal to be operational by July

South East Asia's first liquefied natural gas (LNG) receiving terminal in Thailand will be operational by July, a senior executive of its owner PTT Public Company said on Tuesday. "We expect to have the terminal commissioning in May, and hope that it will be operational...

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Libya says oil output halved, sites undamaged

Libya’s oil output has dropped by around half as workers in the industry have fled because of the uprising against Muammar Gaddafi. That estimate comes from the chairman of Libya’s National Oil Corporation Shokri Ghanem. [Read more] Source: Euron...

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DNV to issue new offshore technical guidance on offshore gas terminals

Rising demand for floating offshore gas terminals has resulted in the development of new technologies and specialised units, leading to a number of innovative design concepts. Based on DNV’s extensive experience in this segment, the company has prepared a detailed...

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Rex Oil & Gas, Exploration and production sharing agreement inked for offshore Block 50

The partnership of Rex Oil & Gas Limited, an international oil company, and Petroci Holding, the national oil company of Côte d'Ivoire, has won a licence to unearth the hydrocarbon potential of Block 50 offshore the Sultanate's southeastern seaboard. [Read...

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Kencana Wins EPCC Contract from Petrofac for Sepat Early Production System Offshore Malaysia

The Board of Directors of Kencana Petroleum Berhad (“Kencana Petroleum” or “the Company”) is pleased to announce that its wholly owned subsidiary, Kencana HL Sdn. Bhd. (“KHL”) has secured a contract from Petrofac E & C Sdn. Bhd. (“Petrofac”) for the Mobile...

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Transocean May Recover Deepwater Horizon Rig From Sea Floor

Transocean Ltd., the world’s largest offshore oil driller, may attempt to recover some or all of the Deepwater Horizon rig that exploded and sank during last year’s Macondo well disaster. The wreckage, about a mile beneath the surface of the Gulf of Mexico, was...

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TSmarine and SMIT Subsea sign diving services agreement

TSmarine and SMIT Subsea Australia (SMIT), a wholly owned subsidiary of Boskalis, have entered into a long term frame agreement where SMIT will provide diving services to TSmarine. [Read more] Source: News Ma...

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Transocean employee numbers fell by 6 pct in 2010

Transocean Ltd, the world's largest offshore rig contractor, shrunk its work force by 6 percent last year as increased competition for shallow-water rigs led to more older rigs being set aside. [Read more] Source: Reut...

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First Deepwater Drilling Permit Since Gulf Oil Spill Approved

The U.S. government has approved the first deepwater drilling permit in the Gulf of Mexico more than four months after a moratorium on all deepwater offshore drilling in the country was lifted. [Read more] Source: RTT N...

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COSCO Near Completion of Hull Column Construction of Octabuoy FDPSO

The hull column construction of Octabuoy, being built for American ATP OIL & GAS, is nearly complete in the COSCO Qidong Offshore Base. Octabuoy, the octagonal semi-submersible drilling unit, is an FDPSO semi-submersible drilling production storage platform. [Read...

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ATP Oil To Explore Near New Israeli Megafields

“It’s nice to be working with a government that understands the importance of domestic energy security,” says T. Paul Bulmahn, chief executive of ATP Oil & Gas. He’s referring to Israel, where ATG is ironing out the terms of a deal to explore offshore in one...

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Trico Marine Services Announces Vessel Auction

Trico Marine Services, Inc. today announced that it intends to conduct an auction to sell certain additional Towing and Supply vessels, in continuation of the Company’s exit from the Towing and Supply business. The United States Bankruptcy Court for the District...

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Guangzhou leads high-tech ships

Guangzhou Longxue Shipbuilding under the umbrella of China State Shipbuilding Corporation (CSSC) delivered two ultra-large newbuildings on the 17th February, becoming the first shipyard in China to make two cases of deliveries in a day. [Read More] Source: As...

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Gazprom, Statoil: Shtokman goes according to plan

Shtokman partners Statoil and Gazprom are pleased with preparations for the first development phase of the huge gas field in the Barents Sea. [Read more] Source: BarentsObserver....

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Statoil and ExxonMobil together on the Faroes

Statoil and ExxonMobil have agreed to explore three Faroese offshore licenses jointly. ExxonMobil Exploration & Production Faroe Islands Limited will acquire 50% interest in Licenses 009 and 011 and 49% interest in License 006, where Atlantic Petroleum is...

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DSSC turns into shipbuilder

China-based DSSC, a ship-block production subsidiary of Korea's Daewoo Shipbuilding & Marine Engineering, has entered into the shipbuilding business with winning two new 58K-dwt bulkers. [Read More] Source: Asia...

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Huanghai Shipbuilding wins 7 MPPs contract

Chinese shipbuilder Huanghai Shipbuilding has signed a newbuilding contract with Ethiopian shipowner ESL to build seven 28,000dwt multi purpose cargo carriers at a price of $32.5m per unit. [Read More] Source: Seatrade A...

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Hyundai wins $4bn orders in Jan

Hyundai Heavy Industries (HHI) announced that it has achieved KRW2.179trn (US$1.932bn) revenue with 19.8% growth than a year before and US$3.959bn new orders for January. [Read More] Source: Seatrade A...

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CMA CGM announces rate restoration program between North Europe, Scandinavia, Med and Australia

The CMA CGM group has announced it has decided to restore the freight rates for all cargo moving from North Europe, Scandinavia and the Mediterranean Sea to Australia. Effective on April 5, 2011, shipping costs will increase by US$150 per TEU. Source: Barid Marit...

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Fuel consumption benefits from antifouling system backed by money-back guarantee

Jotun Marine Coatings has launched Hull Performance Solutions (HPS), described as a new concept which guarantees significant reductions in fuel consumption by combining premium antifouling with monitoring tools. [Read More] Source: Motors...

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Cargill ship will be largest ever to utilize kite power

For the past ten years, Hamburg-based SkySails has been engineering and producing what are essentially giant kites, designed to help ships reduce their fuel use by catching the wind and pulling them across the surface of the ocean. [Read More] Source: gizma...

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Libya Oil Cargoes Still Moving, World’s Biggest Shipbroker Says

Oil cargoes are still leaving Libya, Africa’s third-largest producer, as ports mostly keep operating through an uprising against leader Muammar Qaddafi, according to Clarkson Plc, the world’s biggest shipbroker. [Read More] Source: Bloomb...

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The Danish sailboat ING Kalundborg has hijacked

The Danish sailboat ING Kalundborg has hijacked off the Somali coast. The boat, a Dynamic 43, owned by a family that is extremely experienced sailors and known by both long-distance sailors. [Read More] Source: Sea N...

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Pirates could face armed seafarers

The UAE Shipping Association (UAESA) has reversed course to back the use of private security guards aboard commercial vessels as the best way to combat increasingly aggressive Somali pirates. [Read More] Source: The Natio...

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MHI Receives Order from NYK for Eco-LNG Carrier, Featuring 15% Enhancement in Fuel Efficiency

Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Nippon Yusen Kabushiki Kaisha (NYK) for a liquefied natural gas (LNG) carrier capable of marked reductions in fuel consumption. The vessel is the first of its kind to adopt "MHI Ultra Steam Turbine Plant" (UST), a new turbine plant which...

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Asia Set To Drive The Global Container Market As Regional Economies Gain Ground Led By China

Global container trades are stabilising and the expansion of Asian economies will be the key to trade growth in the future, a senior industry executive said today. [Read More] Source: Logistics W...

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Maersk Line Holds No. 1 Spot Among Ocean Carriers

Maersk Line’s recent order for 10 ships with capacities of 18,000 20-foot equivalent units apiece cements its position as the world’s largest container line, according to Alphaliner. [Read More] Source: Journal of Comme...

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Fuel Costs Squeeze Ocean Carrier Margins

Ocean container carriers are losing money on key trade lanes, including the Asia-Europe route, as margins come under increasing pressure from rising fuel prices and weakening freight rates, according to Aphaliner. [Read More] Source: Journal of Comme...

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Fairstar posts net profit and raises funds for newbuilds

Fairstar Heavy Transport NV has published its audited financial statement for 2010, recording a net profit after tax of US$228,000. [Read More] Source: Offshore Shipping Onl...

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How To Ship 128,000 Tonnes Of Freight 15,000 Miles At 7 Miles per Hour

Project freight forwarding takes many forms but sometimes the simplest can be the most spectacular. When faced with a massive single piece to ship which is destined for a life anchored to the seabed by far the easiest method is simply to pull it into position,...

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Massive Indian investment in ports

India has announced a combined $110bn package to develop its ports and shipbuilding industry by 2020. [Read More] Source: Port Strat...

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Gazprom buys Kovykta operator's assets for 22.6 bln rbls

Russia's gas giant Gazprom has acquired the assets of RUSIA Petroleum, the license holder of the giant East Siberian Kovykta gas field, for about 22.6 billion rubles ($771 million), or 50% more than the auction starting price, a source familiar with the situation...

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Beach Energy To Realise Reserves Upgrade From Impress Takeover

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has been advised by Senex Energy Limited (ASX:SXY) of a proposed ten well drilling program on PRL 15 and PEL 104 (the Growler field) consisting of four development (already approved by the joint venture) and six exploration...

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Leighton wins contract offshore India

India’s Oil and Natural Gas Corporation (ONGC) has appointed Leighton Contractors India to carry out refurbishment work of its Water Injection North (WIN) Platform at Mumbai High Field. [Read More] Source: Offshore Shipping Onl...

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Ecopetrol Profit Rises 57% on Oil Price, Production Gains

Ecopetrol SA, Colombia’s largest oil company, said profit jumped 57 percent in the fourth quarter because of a rally in crude prices and higher production. [Read More] Source: Bloomb...

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First deep-water drilling permit since oil spill

Today, Governor Bobby Jindal issued a statement regarding the first deep water drilling permit issued since the moratorium. Governor Jindal said, "This is a good first step, but we must quickly get to a level of issuing permits that represents a critical mass...

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WHL Energy Completes Acquisition of Seychelles Oil and Gas Interests

Australian energy company WHL Energy Limited announces that it has secured rights to a minimum of 96% of 20,700 square kilometres of highly prospective oil and gas exploration interests in the shallow water area off the southern Seychelles coast via the acquisition of 100% of SEYCO Energy Pty Ltd and...

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Range Resources Q4 Loss Sharply Widens, But Tops View; Production Up 18 Percent

Petroleos MIndependent oil and gas producer Range Resources Corp. (RRC: News ) reported Monday a loss for the fourth quarter that sharply widened from last year, hurt by a significant impairment on proved properties. The results were also impacted by a 19 percent...

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Pemex Quarterly Loss Narrows 60 Percent on Higher Oil Prices

Petroleos Mexicanos, Latin America’s largest oil producer, said higher crude prices and lower costs caused the company’s fourth-quarter loss to narrow 60 percent from a year ago. [Read More] Source: Bloomb...

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