Freight shipping oversupply squeezes rates

Making forecasts about dry bulk ocean freight rates have always been a tricky business. This is because forecasters have to consider diverse factors. Among other things, how the economies in different parts of the world would behave, and the expected growth in seaborne trade of coal and iron ore, constituting...

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Global Container Traffic Hits All Time High

Global ocean container traffic reached an all-time high of 560 million 20-foot equivalent units in 2010, driven by surging volume at Chinese ports, according to Alphaliner. [Read More] Source: Journal of Comme...

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New shipbuilding activity still activity, but below 2010 levels

The latest reports from shipbrokers and analysts suggest that ship owners have started to moderate their pace of newbuilding ordering, as a result of a hefty orderbook for most ship types, combined with the uncertain state of most freight markets. [Read More] Source:...

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Daewoo Shipbuilding: High Material Costs May Weigh On 2011 Profitability

SEOUL (Dow Jones)–Daewoo Shipbuilding & Marine Engineering Co. (042660.SE) said high raw material costs may weigh on its profitability this year due to potential supply constraints following the March 11 earthquake and tsunami in Japan. [Read More] Source:...

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DSIC inks more jack-up rigs

China's Dalian Shipbuilding Industry Offshore (DSIC Offshore) has secured two more jack-up drilling rigs plus additional option contracts. [Read More] Source: Asia...

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Samsung secures LNG carriers

South Korea's Samsung Heavy Industries has clinched an order for four LNG (liquefied natural gas) carriers. Golar LNG has booked four 160,000-cbm LNG carriers at the shipyard for just under $800m in total. [Read More] Source: Asia...

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Japan: Export-ship inquiries drop

The combined ship export inquiries of Japan's top six shipbuilders during the February of 2011 came to nine cases, falling in half compared with the previous month. [Read More] Source: Asia...

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STX grabs ethylene carriers

Korea's STX Offshore & Shipbuilding (STX O&S) announced yesterday it has won an additional new order from an European shipowner to build three 6,500-cbm ethylene carriers for $93m. [Read More] Source: Asia...

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Premier Oil: East Fyne appraisal well

Premier is pleased to announce that it has exercised its option, as announced on 7 October 2010, to drill the East Fyne appraisal well in the UK Central North Sea under the Joint Venture and Earn-In Agreement with Antrim Energy Inc. (“Antrim”). Under the terms...

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Statoil's Snoehvit gas field to shut for repairs

Statoil (STL.OL: Quote) plans to suspend production at its Snoehvit gas field in the Barents Sea for 30 to 40 days starting in late April as part of a scheduled maintenance project, the company said on Tuesday. [Read More] Source: Reut...

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Wood Group awarded major brownfield engineering contract by Woodside

Wood Group, the international energy services company, has been awarded a non-exclusive major services agreement by Woodside Energy Limited for brownfield project delivery for a number of Woodside's onshore and offshore facilities. The services comprise a wide...

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Expro: Subsea contract strengthens Expro presence in China

Following the successful association between international oilfield services companies, Expro, and China Oilfield Services (COSL) in the form of a China based joint venture, Husky Oil China Ltd has awarded the joint venture with a subsea and well testing contract...

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MMA buys platform supply vessel

The Directors of Mermaid Marine Australia Ltd (MMA) are pleased to announce that the Company has entered into a contract to purchase a new 75 metre DP II Platform Supply Vessel (PSV). The PSV is a MT 6009 MKII diesel electric design, which delivers a high level...

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Fugro has reached agreement with Reef Subsea AS to acquire Bluestone Offshore Pte Ltd and its subsidiaries.

Bluestone Offshore Pte Ltd is a specialist provider of geotechnical services in Southeast Asia and Australia and currently operates one chartered DP deepwater geotechnical vessel in the region. The staff of approximately 40 also provides laboratory and engineering...

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TTS Energy has signed contracts with DSIC Offshore in Dalian, China, for two new Drilling Equipment Packages.

These contracts are the execution of two, out of three, optional units in relation to similar contracts signed between DSIC Offshore and TTS Energy in November last year. So far, it brings the total number of drilling packes to be supplied by TTS Energy to the...

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Technip awarded North Sea contract by RWE Dea

Technip was awarded a full EPIC(1) contract by RWE Dea, for the Clipper South gas field development in the North Sea. The field is located 70 kilometers North-east of the Bacton gas terminal in 25 meters of water. The contract covers full project management,...

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Colombian Drug Traffickers Now Using Subs to Transport Drugs

Until last month, the boat of choice for Colombian drug traffickers was the semisubmersible, which would float just below the water’s surface and only have the air and exhaust pipes above water. Now, however, the smugglers have graduated to full on submarines...

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HHI to build $30 mil. R&D center in Shanghai

Hyundai Heavy Industries (HHI), the world's biggest shipyard, plans to invest $30 million in China to build its first research facility in the biggest emerging market. [Read More] Source: Korea Ti...

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Abu Dhabi Ship Building Launches Third Vessel For The UAE Navy

Abu Dhabi Ship Building, the leading shipbuilder and naval support services provider in the Gulf region and a strategic affiliate of Mubadala, has announced the launch of “Al Dhafra”, the third vessel of the Baynunah Corvette Class Program for the UAE Navy. Abu...

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Wagenborg: Launch Marietje Deborah 14th April

On Thursday 14th April, m.v. Marietje Deborah will be launched at Barkmeijer Shipyards in Stroobos. The Marietje Deborah is the third in a series of four 1A ice-classed nozzle fitted 8300 tons vessels Barkmeijer is building for the Danser-Van Gent family in Delfzijl. Principal...

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Steel cutting ceremony for Polarcus Adira

Polarcus Limited (OAX: PLCS) is pleased to announce that the official steel cutting ceremony of newbuild NB293, named POLARCUS ADIRA, took place in March 2011.    POLARCUS ADIRA is the second of two newbuild 3D seismic vessels ordered from...

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