OceanFreight Reports Financial Results for the 4Q and Year Ended 2010

OceanFreight Inc., a global provider of marine transportation services, yesterday announced its financial results for the quarter and year ended December 31, 2010. Financial Highlights For the three-month period ended December 31, 2010 the Company reported a Net Income of $0.2 million. Included in these...

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Dry bulk market plunging even further on low cargo demand

The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the larger ship types. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) fell to 1,430 points, down by 2.19% [Read More] Source: Hellenic Shipping...

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Safe Bulkers: Acquisition of Two Newbuild Panamax-Class Drybulk Vessels

Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has entered into shipbuilding contracts for the construction of two Japanese-built, drybulk Panamax-class vessels at attractive...

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Hyundai Heavy wins 16 MW wind power order from Finland

Hyundai Heavy Industries Co Ltd has won a 16 megawatt wind power project order from Finnish Power, the Korean company said on Wednesday. [Read More] Source: Reut...

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Daewoo Shipbuilding sees strong recovery in LNG ship orders

Reuters reported that South Korea's Daewoo Shipbuilding & Marine Engineering believes a loss of nuclear capacity in Japan will further boost a nascent recovery in liquefied natural gas ship orders. [Read More] Source: Steel G...

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S. Korea regains status as top winner of new ship orders in Q1

South Korea recaptured its status as the world's leading shipbuilding nation in terms of new orders in the first quarter by beating China by a wide margin, industry data showed Thursday. [Read More] Source: Korea Ti...

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BEACH COMPLETES HOLDFAST-1 SHALE GAS DRILLING

Beach has completed drilling the Holdfast-1 well  and is encouraged by the  target zone intersection which is 353 metres. Commencing mid May, both Encounter-1 and Holdfast-1 will be fracture stimulated and flow tested. Beach Energy Limited (ASX: BPT,...

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Zola drilling resumes after suspension

Tap Oil Limited provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia.The Zola-1/Zola-1 ST1 well is located in permit WA-290-P, immediately south of the giant Gorgon gas field in the Carnarvon Basin, Western...

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Announcement by Transocean Ltd. Senior Management Team

Transocean Ltd.'s (NYSE: RIG) (SIX: RIGN) senior management team, led by Chief Executive Officer Steven Newman, announced that they are voluntarily donating the safety bonuses that were awarded to them for 2010 to the Deepwater Horizon Memorial Fund. "The executive...

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Gazprom, Statoil and Total top executives hold meeting on Shtokman field development

A working meeting was held today at the Gazprom headquarters. Participating in the meeting were Alexey Miller, Chairman of the Management Committee of Gazprom, Helge Lund, President and Chief Executive Officer of Statoil and Christophe de Margerie, Chairman and...

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SeaBird Exploration: 2D and 3D shallow water contracts awarded

SeaBird Exploration PLC (‘SeaBird’ or ‘SBX’) announces the following new contracts awarded in the 2D and 3D shallow water as set out below; Hawk Explorer (photo) has been awarded a short survey in direct continuation from the current employment in West Africa...

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Neptune wins rig positioning contract with Santos

Neptune is pleased to announce that its Geomatics division has been awarded a contract with Santos for the provision of rig positioning services. The Neptune team will be deployed onboard the Stena Clyde Mobile Offshore Drilling Unit for the program of works...

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Polarcus receives Letter of Intent, offshore UK

Polarcus Limited (OAX: PLCS) is pleased to announce that the Company has received a Letter of Intent for a 550 square kilometer 3D seismic acquisition project West of Shetlands, offshore United Kingdom. The project, subject to the execution of a service contract,...

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Norway Expects More Arctic Oil Drilling After Barents Sea Strike

Norway expects more drilling in its Arctic waters after Statoil ASA (STL)’s announcement last week of the first commercial find in the Barents Sea in more than 10 years. [Read More] Source: Bloomb...

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Aker Solutions announces name for new EPC company: Kværner

International oil service company Aker Solutions is establishing a specialised EPC company in order to further leverage the experience and expertise built up through field development projects over more than 40 years. Today, Aker Solutions announces that the...

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Lundin Discovers Oil at Tellus Prospect

Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB (Lundin Petroleum), operator of production licence 338, has completed well 16/1-15 on the Tellus prospect as an oil discovery. The well has been successfully tested and a comprehensive logging...

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Maersk Drilling orders two deepwater drillships

Maersk Drilling has signed a contract with Samsung Heavy Industries in South Korea for the construction of two ultra deepwater drillships. The drillships are scheduled for delivery in the third and fourth quarters of 2013, respectively. The total project cost...

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Pasha Hawaii Finalizes Design for Second Ship

Honolulu-based Pasha Hawaii today announced the final design specifications for their second ship, currently under construction with VT Halter Marine, Pascagoula, MS. The ship will be a combination Container and Roll-On/Roll-Off Car Truck Carrier (“ConRo”) based...

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New Bulk Carrier Spirit of Ho-Ping Delivered

On March 11, NYK took delivery of a new 82,000 DWT bulk carrier, Spirit of Ho-ping, which was built at the Tsuneishi Shipyard of Tsuneishi Shipbuilding Co. Ltd. (location: Fukuyama City, Hiroshima Prefecture). The vessel will be chartered exclusively to the Ho-Ping...

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Dongfang Ship starts her trial trip to Wenzhou for delivery

On April 1 the 6th ship whistles then leaves the dock and begins her trial trip to Wenzhou for delivery. It is one of 8000T multi-use series ships of Germen and other European shipowners by Dongfang Shipbuilding Co.,LTD. And this is the one more ship we had finished since the end of March. The...

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