Inland barge operator Kirby to buy coastal barge operator K-Sea

Kirby Corp. agreed to acquire K-Sea Transportation Partners LP, an operator of seagoing barges, for $335 million. Kirby operates barges that ply the Mississippi River and other inland waterways. Both companies transport oil and other fuels. [Read more] Source:...

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Nigeria, Cameroon Plan Joint Oil Exploration in Bakassi

Nigeria and Cameroon have agreed to jointly exploit oil and other cross-border reserves found in the Bakassi Peninsula. Canadian exploration company, Addax Petroleum, which has investments in Nigeria and Cameroon’s oil and gas sectors, is a possible candidate...

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BHP wins permit to resume drilling Shenzi oilfield in Gulf of Mexico

BHP Billiton will resume drilling of a production well at its Shenzi oilfield in the Gulf of Mexico after winning the second US deep-water permit since BP's spill last year. [Read more] Source: The Sydney Morning Her...

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Chaotic situation in the eastern Gulf of Finland

The ropax vessel Petersburg has been stuck in the ice off Ust Luuga since March 4, when she sailed from Ust Luga. Seanews.ru reported that she was still waiting for assistance from the nuclear icebreaker Vaygach on March 10. According to AIS information the vessel was still not moving on March 11. The...

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OOCL, Yang Ming to enhance China-Pakistan service

Orient Overseas Container Line (OOCL) and Yang Ming Marine will enhance the China-Pakistan Express (CPX) service and launch CIX2 service starting from 18 and 21 March respectively. Five vessels of 3,500-4,000 teus currently operate on the CPX. It will be restructured...

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Piracy pushes up insurance premiums for ship owners

The looming piracy menace in the high sea has pushed the premium cost for the Indian ship owners. War risk insurance premiums charged by international reinsurers have shot up by up to nearly 400% for vessels sailing in the danger zone due to increased incidents of piracy, said Anil Devli, CEO of Indian...

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Nigeria approves national shipping carrier

The Nigerian Maritime Administration and Safety Agency (NIMASA) has been given approval to establish a national carrier, a top government official has said. Minister of Transport Yusuf Suleiman told a news conference in Abuja on Friday that a national carrier...

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Guatemala: Quetzal to shoot 3D on Atzam structure

Quetzal Energy Ltd., Calgary, which is contemplating a spinout of Guatemala assets to its shareholders, will tender this month for a 3D seismic program to better define the producing structure at Atzam oil field in Guatemala. [Read more] source: Penn Ene...

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Expanded Panama Canal to Face Tough Competition

Container volumes moving through the Panama Canal will certainly increase when the canal is enlarged in 2014, but that does not necessarily mean West Coast ports will lose market share simply because larger vessels from Asia will be able to call at East and Gulf...

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Baltic index rises, Japan quake aftermath watched

The Baltic Exchange's main sea freight index .BADI, which tracks rates to ferry dry commodities, rose for an 11th session on Friday, and shippers were gauging the impact of Japan's biggest earthquake on record. [Read More] Source: Reuter...

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Panamax rates seen rising on grain demand

Rates for panamax dry bulk carriers on key Asian freight routes are expected to rise to fresh three-month highs on strong regional demand for South American grain shipments. [Read More] Source: Reut...

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Crude tankers to face near-term Japan headwind - Wells Fargo

As one third of Japan's refining capacity shuts down following Friday's earthquake, near-tern demand for crude tankers would suffer, Wells Fargo Securities said. [Read More] Source: Reut...

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Oil, LNG shut after Japanese quake

Japanese oil refiners said they closed facilities in the east of the country after an 8.9-magnitude earthquake struck Honshu Island's northeast coast Friday. Cosmo Oil and JX Nippon Oil and Energy said emergency systems went into effect after the massive quake...

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Tsunami and Earthquake in Japan also affects shipping

The earthquake and subsequent tsunami that hit Japan this morning is first and foremost terrible for the people affected by this natural disaster.As a side effect to this disaster, shipping is also affected by the event but the scale of the damage and the way...

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Norway launches APA 2011 in the North Sea, Norwegian Sea and Barents Sea

The Ministry of Petroleum and Energy announced Awards in Predefined Areas 2011. The Areas comprise the predefined areas with blocks in the North Sea, the Norwegian Sea and the Barents Sea.  The predefined areas are extended with more blocks and parts of blocks...

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Total in a World First with Subsea Gas/Liquid Separation in 800 Meters of Water for the Pazflor Project in Angola

Begun in December 2007, development of the Pazflor oil field 150 kilometers offshore Angola is one of the biggest projects currently operated by Total. A number of technological challenges — including subsea gas/liquid separation, a world first — are being met...

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LNG-FPSO boom coming

Producing LNG on vessels at sea could turn into a billion-dollar industry as engineers develop shipboard technology to help quench Asia's thirst for energy. Floating production of liquefied natural gas (FLNG) using LNG-FPSO units is under development -- with no...

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Few new orders worldwide

The world's total of new orders has been showing a decrease since the beginning of  the year. According to China's Shenyin & Wanguo Securities, the world's combined new orders during February represented 4.17m DWT, dropping by 30% year-on-year and by 10% month-on-month. [Read More] Source:...

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SAL Schiffahrtskontor Altes Land Puts MV Lone into Service

She perfectly resembles her sister, is just as strong and can be positioned to maximum precision: SAL Schiffahrtskontor Altes Land puts the new building MV ‘Lone’ into service. Just three months after the German-based heavy-lift shipping company has sent the MV...

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Samsung soon meets new orders

Korea's Samsung Heavy Industries, which has not been able to grab any newbuilding order so far this year, seems to win a series of new orders from this month. [Read More] Source: Asia...

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European firms want to invest in Vietnam's shipbuilding industry

European enterprises operating in the maritime sector from Netherlands, Norway and Germany want to cooperate with Vietnam's shipbuilding industry in the future. [Read More] Source: VNEconomyN...

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Korea wins major UAE oil deal

South Korea clinched a landmark oil field development deal in Abu Dhabi, in the United Arab Emirates on Sunday during President Lee Myung-bak’s visit to the Arab nation, raising hopes for the nation bolstering its energy security.  [Read more] Source: Korea...

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Hyundai Heavy names new co-CEO

Hyundai Heavy Industries Co., the world’s top shipbuilder, appointed Kim Oi-hyun as co-chief executive during its shareholders’ meeting on Friday. The former shipbuilding division head will replace Min Keh-sik, who had led the firm for the past 10 years. [Read...

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Evergreen Plans Box Ship Order with China Shipbuilding

Evergreen Marine is to order ten box ships from China Shipbuilding. Negotiations are underway between the two companies and a final decision is expected soon, according to lloydslist.com. The contract forms part of Evergreen's newbuild programme to add 30 box ships of 8,000teu each. In September 2010,...

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Libya's Al Jurf offshore oil field stopped-Total CEO

Libya's Al Jurf offshore oil field has stopped producing amid turmoil in the country, Total Chief Executive Christophe de Margerie said on Friday, but he played down concerns about the oil market overall. [Read more] Source: Reut...

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Melrose Resources Signs Romanian Concession Agreements

Melrose Resources plc, the oil and gas exploration, development and production company, announces that it has signed the Concession Agreements for two offshore exploration blocks EX-27 (Muridava) and EX-28 (Est Cobalcescu) with the Romanian National Agency of...

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Gdynia shipyard anew

The period of the compensation process in the former Gdynia Shipyard is coming to an end. All assets key for shipyard production including the "heart" of the yard - the dry dock and the gantry - have found buyers. [Read More] Source: Polish Mar...

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Dubai company denies Singapore legal action

Please respect FT.com's ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email ftsales.support@ft.com to buy additional rights or use this link to reference the article - http://www.ft.com/cms/s/0/8bf363d0-4d54-11e0-85e4-00144feab49a.html#ixzz1GWxuoMRe Dubai’s...

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Cochin Shipyard forges ahead through rough weather

The public sector Cochin Shipyard Ltd is proposing to expand capacity by setting up a ship-lift system at an investment of Rs 500 crore. The new system, to be set up at the northern end of the premises, will be 120 metres long and can accommodate ships of up to...

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Dolphin Geophysical selects Sercel

Sercel has been awarded a contract by Dolphin Geophysical for the purchase of Nautilus and Sentinel systems to equip its first high-capacity 3D seismic vessel, Polar Duke.   [Read more] Source: Digital Energy Jour...

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Rolls-Royce Plans to Expand Global Marine Service Centre In Rotterdam

Rolls-Royce, the global power systems company, has opened its newly expanded and modernised Marine Service Centre in the Port of Rotterdam. [Read more] Source:  Dredging To...

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Broker finds new home for Stril Explorer

Broker Derrick Offshore reports that, towards the end of 2010, Seahold Geoships Ltd (SGL) took a charter with minimum firm period 18 months on the recently delivered Stril Explorer from Simon Møkster Shipping. [Read more] Source: Offshore Shipping Onl...

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Gazprom, Wintershall look to new horizons

Germany energy company Wintershall signed a memorandum of understanding with Russian gas monopoly Gazprom to exploit resources in western Siberia. Gazprom would get a stake in Wintershall's oil and gas projects in the North Sea while the German company would take...

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Plexus Holdings Provides Update on New Subsea Wellhead Development

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, provides an update on its Joint Industry Project ('JIP') initiative, launched in October 2010, to develop a new...

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