Newbuild prices up

Many experts raise a positive outlook on newbuilding prices saying that newbuilding prices will increase from the second quarter of this year since raw material prices are rising, such as iron ore and oil. [Read More] Source: Asia...

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Yangzijiang builds mega yard

China's Yangzijiang Shipbuilding announced acquisition of additional 40% interest in Jiangsu Xinfu Shipbuilding for a consideration of US$57.15m or RMB 377m, raising its effective stake to 60%. [Read More] Source: Asia...

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Multraship utilises floating sheerlegs to salvage fishing trawler off Dunkirk

Multraship has salvaged the fishing trawler ‘Nieuwpoort 28’ (‘N28’) which capsized off Dunkirk on March 1, using its recently upgraded floating sheerlegs ‘Cormorant’. [Read More] Source: Baird Marit...

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PHOTO: Giant pair dock at Felixtowe

Two of the world's largest container ships have met for the first time at the Port of Felixstowe. The 15,550TEU ‘Eleonora Maersk’, and the 14,000TEU ‘MSC Paloma’, are both regular callers at the UK's largest container port, but usually on different days. This...

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Two-stroke power for multi-role ro-ros

MAN Diesel & Turbo reports that Danish ferry operator DFDS has signed a contract for the construction of two ro-ro vessels, each to be powered by two MAN B&W 8S40MEB9 engines. [Read More] Source: Marine ...

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Russian freighter aground, Marmara sea

Russian freighter Dvina beached near Karabiga, Marmara sea, Turkey, in a rough weather, either on Mar 3 or Mar 7, not clear. [Read More] Source: Sea N...

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Libya: Prices retreat as assurances override concerns over supplies

Oil prices fell today despite concerns among analysts and traders over the potential damage to Libya’s oil infrastructure caused by continuing air and ground attacks by forces loyal to the country’s leader Moammar Gadhafi. [Read more] Source: Penn Ene...

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Shell oil exploration threatens one of the world's great wonders

Shell Oil has come under heavy criticism for planning an oil and gas drilling site that could threaten a coral reef off the coast of Australia that is among the most valuable marine ecosystems on the planet. [Read more] Source: The Independ...

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Maersk Line Fuel Switch A Strong Boost For Air Quality

A new fuel-switching programme being introduced by Maersk Line will see the company's vessels cut sulphur oxide levels in their exhaust gases by more than 80 percent when they are berthed in New Zealand ports. [Read More] Source: ...

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BP's Dudley apologizes for Gulf spill

BP Plc's Chief Executive Robert Dudley issued an industry-wide apology for the worst offshore spill in U.S. history at a high-profile energy conference on Tuesday. "This is the first chance I have had to address such a large gathering of industry colleagues and...

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Nippon Yusen May Slow Container Ships to Save Fuel on Surging Oil Prices

Nippon Yusen K.K., Asia’s largest listed shipping line, may slow its container vessels by a further 10 percent to pare fuel usage after bunker prices jumped to the highest in more than two years. [Read More] Source: Bloomb...

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BP'S Holstein platform down, affects SGC grade

BP Plc's Holstein platform in the Gulf of Mexico, marketed as part of the Southern Green Canyon U.S. cash crude blend, has been down for repair for four weeks, CEO Bob Dudley said on Tuesday. The facility, 100 miles south of Grand Isle, Louisiana, is due to restart...

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GE’s Acquisition of Wellstream: Shaping a New Era in Subsea Oil and Gas Production

GE is pleased to announce that another significant milestone has been reached in its strategic acquisition of Wellstream Holdings PLC. This morning, Wellstream announced that the listing of its ordinary shares (“Wellstream’s Shares”) on the Official List had been...

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Fishing boat rammed by Feed Tromso sunk

Within a few minutes the Norwegian 65-ft-fishing vessel "Bjerka" (MMSI-No.: 257419500) sank in the port of Andenes after having been hit by the "Feed Tromso" on Mar 8, 2011. [Read More] Source: Sea N...

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NIDC Invested $200m in Modern Technology

More than $200 million have been invested in updating equipments of the drilling sector in past two years, managing director of the National Iranian Drilling Company (NIDC) Heidar Bahmani said on Sunday. [Read more] Source: Za...

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Wallenius launches next generation RoRo vessels

Transporting energy-related cargo requires specially-equipped vessels and experienced handlers. Wallenius Wilhelmsen Logistics is launching the next generation of roll-on/roll-off vessels in 2011 utilising the [Read More] Source: Gas To...

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ConocoPhillips awards Cameron $200MM surface equipment order for Ekofisk offshore Norway

Cameron has received a contract valued at approximately $200 million from ConocoPhillips to provide equipment and services on two new platforms in the Greater Ekofisk Area Development offshore Norway.  [Read more] Source: Penn Energ...

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Hyundai-Vinashin Shipyard switches to shipbuilding

Hyundai-Vinashin Shipyard (HVS) terminated its ship repair business entirely and switched itself to a specialized shipbuilder.HVS delivered M/V Horizon Tacoma, a 1700teu Containership, to USA Horizon Lines of USA, a ship-owning firm, on last Feb. 24. With this...

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22 Of 23 Kidnapped Colombian Oil Workers Freed

Colombia's largest guerrilla group has freed all but one of the 23 workers for Canadian energy firm Talisman Energy Inc. who were kidnapped Monday in a brazen daylight operation that some say indicates country's Marxist rebels are making a comeback. [Read more] Source:...

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Warning to shipping lines on transpacific

Transpacific shipping lines and freight forwarders should be prepared for only a small growth in volumes this year, after double-digit increases in 2010. [Read More] Source: ...

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OOIL's Tung Says Carriers Need Freedom to Talk

Container shipping lines and shippers would benefit if carriers could share information in ways barred by the European Union, the chairman of Orient Overseas Container Line's parent company told the Journal of Commerce's Trans-Pacific Maritime Conference. [Read...

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Painting a black picture of shipping's green future

Growth in world trade could lead to maritime's carbon footprint increasing 300% by 2050. Speaking to the Women's International Shipping & Trading Association, Martin Stopford, MD of Clarkson Research, said container shipping's current carbon footprint was...

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South Pars Projects On Track

Oil Minister Masoud Mirkazemi voiced pleasure in the present trend of the development of giant South Pars gas field, and said the country needs to attract foreign investment to facilitate and further accelerate the development of the entire South Pars Energy Zone.  [Read...

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Trans-Pacific Exports Grow but Rates Fall

Shipping lines that carry U.S. exports to Asia face the paradox of declining freight rates even as cargo volume remains quite strong. [Read More] Source: The Journal of Comme...

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Marine rates continue to plunge

Marine insurance rates are expected to continue softening in 2011, according to research by Marsh. The broker’s latest Marine Market Monitor has found that “abundant capacity, light claims experience and the slowdown in world trade” led to marine insurance rates falling in 2010. [Read More] Source:...

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Oil Tanker Bookings for Libya End, Biggest Shipbroker Says

Tanker bookings to pick up Libyan oil cargoes have ended, the world’s largest shipbroker said, as an uprising against leader Muammar Qaddafi disrupts supply. [Read More] Source: Businessw...

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Ithaca Energy Inc.: Jacky Field-Second Production Well-Drilling Commenced

Ithaca Energy Inc. announces today that the Energy Enhancer jack-up drilling unit has commenced drilling a second production well on the Jacky field.  Well 12/21c-J03 ("the well" or "J03") is being drilled to access additional reserves and increase production...

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Piracy a growing concern for global maritime industry: Is going round the Cape of Good hope a viable solution?

Piracy has been escalating, now posing an ever so serious threat to the global maritime community, as all international efforts to curb the problem have failed. According to a new report from BIMCO, “what started out as a few sporadic attacks in the Gulf of Aden...

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PROSAFE : Letter of Interim Agreement for MSV Regalia

Prosafe has been awarded a Letter of Interim Agreement ("LOIA") by Talisman Energy (UK) Limited for the provision of the MSV Regalia accommodation support rig at the Auk South Redevelopment Project in the British sector of the North Sea. The firm period of the...

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Ships entering U.S. to face new ballast water rules

To keep new invasive species out of U.S. waters such as the Great Lakes, the United States must enact stricter rules on treating ship ballast water under a settlement reached on Tuesday with environmental groups. [Read More] Source: Reut...

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Pemex CEO: Gulf Of Mexico 1st Round Tenders Expected Late ’11, Early ’12

Mexico’s state-owned oil company Petroleos Mexicanos, or Pemex, expects to have a first round of tenders on some areas of the deep water of the Gulf of Mexico late this year or early 2012, its top executive said Tuesday. [Read more] Source: GCapt...

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Renewables contract for repair yard

The UK-based A&P Group has announced a multi-million pound contract for the renewable industry with work being carried out at its shipyard in Falmouth. [Read More] Source: Motors...

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Offshore joy for Hartlepool firm Heerema

HARTLEPOOL'S Heerema has clinched a North Sea offshore contract which will create almost 200 jobs at the peak of construction - and secure jobs at the site until next year. [Read more] Source: NEBusiness.co...

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Maersk gambles on cargo volumes

From suffering US$ 2.09 bn losses for 2009 in its container shipping and back to US$ 4.9 bn profits in 2010 primed initially by slow-steaming, Maersk is now making a record-breaking order for 18,000-teu ships that is raising again the specter of overcapacity on...

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McDermott forms strategic alliance with SOCAR

McDermott International has announced that one of its subsidiaries, McDermott Caspian Contractors, and the State Oil Company of the Azerbaijan Republic (SOCAR) have formed a strategic alliance to implement a major pipelay and diving services contract in the Caspian...

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Brazilian owner set to build five PSV's at Eastern Shipbuilding

The U.S. Maritime Administration appears to have approved a request from Boldini, S.A. of Brazil for Title XI ship financing guarantees on $227,177,000 over 25 years to cover construction of five platform 282 ft supply vessels at Eastern Shipbuilding Group, Panama City, Fla. [Read More] Source: Marine...

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Valiant Petroleum Announces Cladhan South Farm-Out and License Swap

Valiant Petroleum plc announces that its wholly owned subsidiary, Valiant Exploration Limited, has reached a series of agreements to farm-down and swap part of its 100% holding in blocks 210/29c and 210/30b which contain the Cladhan South prospect(s) ("Cladhan...

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Det norske to Acquire Interest in Barents Sea License

Det norske has entered into an agreement with Talisman Energy to acquire 10 percent in PL438 in the Barents Sea. The license contains the prospect called Skalle.  The license is operated by Lundin Petroleum who plans to drill the Skalle prospect in June this...

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COOEC goes for Skipsteknisk for multipurpose subsea construction vessel

China Offshore Oil Engineering Co Ltd (COOEC), a subsidiary of the state-owned oil company CNOOC, has selected the Norwegian ship designer Skipsteknisk to develop the design of a new multipurpose subsea construction vessel. [Read more] Source: Offshore Shipping...

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GDF names Technip to Gjøa development

GDF Suez has awarded Technip a €45-million ($62.5 million) engineering, procurement, construction, and installation contract for Gjøa development in the Norwegian North Sea. [Read mroe] Source: Penn Ene...

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US Justice to set up oil spill probe task force

The U.S. Justice Department said on Monday that it will create a single task force to oversee all aspects of its criminal investigation into last year's oil spill in the Gulf of Mexico. [Read more] Source: Reuter...

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Solstad Offshore CHarters its PSV Normand Bester to Petrobras

Solstad Offshore ASA (SOFF) has recently entered into a charter agreement for the PSV “Normand Vester” with Petrobras for a period of 4 years firm plus options. [Read more] Source: Offhshore Energy To...

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Hovertrans Solutions to build heavy lift hovercraft at ST Marine

Singapore's Hovertrans Solutions Pte. Ltd. is to build a 50 tonne payload hoverbarge for charter. Measuring 34 m x 17 m, the modular hoverbarge will have a hover height of 1.8 m. Hovertrans Solutions is a subsidiary of ST Marine and the hoverbarge will be built...

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London Array OffShore Wind Farm Sees First Foundation Installed

DONG Energy, E.ON AG and Masdar said Tuesday that the first of 177 foundations has been installed at the U.K.’s multi-billion pound flagship offshore wind farm London Array that will be the largest offshore wind farm when it is commissioned next year. [Read more] Source:...

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