EUNAVFOR destroys dhow from Pirate Action Group

On the afternoon of 9 April, the EU NAVFOR Finnish warship FNS POHJANMAA destroyed a dhow-typed vessel used by a suspected Pirate Action Group (PAG) to prevent it being used in any future attacks.  FNS POHJANMAA disrupted the suspected PAG on Wednesday...

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Samsung Heavy To Continue Hedging 100% Of FX Exposure

SEOUL (Dow Jones)–Samsung Heavy Industries Co. (010140.SE) plans to continue its policy of fully hedging its exposure to foreign exchange risks arising from the fact it receives most of its payments for shipbuilding contracts in U.S. dollars. [Read More] Source:...

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Transocean Ltd. Announces World Water-Depth Drilling Record

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that the ultra-deepwater drillship Dhirubhai Deepwater KG2 has set what the company believes is a world record for the deepest water depth by an offshore drilling rig of 10,194 feet of water while working...

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Chinese shipbuilder adds to order back log

Singapore-listed Yangzijiang Shipbuilding (Holdings) Ltd reports that it entered into six  effective shipbuilding contracts  in the month of March 2011 with an aggregate contract value of US$214.2 million.  [Read More] Source: Marine ...

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International report puts Egypt on maritime transport black list

The International Maritime Organization ranked Egypt one of the most dangerous countries for maritime transport in a recent report. The report evaluates more than 200 member countries and puts them on either a black list, gray list or white list based on their...

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Rejected by Xiamen, MOL Presence passes radiation test in Hong Kong

Rejected by the Port of Xiamen, the MOL-operated containership MOL Presence has received permission to call at Hong Kong after passing the radiation level test conducted by Hong Kong authorities, according to the Shipping Gazette. [Read More] Source: Shipping...

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Dubai ports to better performance

Dubai’s ports have not been affected by the current situation in Mena and the emirate expects even better business in 2011 thanks to recovering global trade, a DP World official was quoted on Sunday as saying. Plans by neighbouring Qatar to pump massive funds...

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France Launches Tender for Seine Nord Canal

France launched the final tender for a company to build and operate a canal that will link Paris to Europe's inland waterway system and its largest port, Rotterdam. President Nicolas Sarkozy said work on the $6.4 billion Seine-Nord Europe canal, Europe's most...

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Capesize vessels are delivered at a pace of one new vessel every second day

In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonnage thrown into the water, BIMCO has issued a new report, saying, among others, that at the moment Capesize vessels...

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Stotoil starts production at Peregrino offshore Brazil

Last week Statoil started oil production at the large Peregrino field offshore Brazil. Production will gradually ramp up to a plateau of 100,000 barrels of oil equivalent per day.The first phase of the development includes two drilling and wellhead platforms...

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Seadrill orders new ultra-deepwater drillship to Samsung

Hamilton, Bermuda, April 11, 2011 - Seadrill has exercised an option to build a new ultra-deepwater dual derrick drillship at the Samsung yard in South Korea. Total project price is estimated at US$600 million (includes project management, drilling and handling...

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TGS Acquires Stingray Geophysical

TGS-NOPEC Geophysical Company ASA (TGS) has entered into an agreement to acquire 100% of the shares of Stingray Geophysical Limited (Stingray). The transaction will provide TGS with a strong position in the rapidly growing market for Permanent Reservoir Monitoring...

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MIS MARKS FINAL DELIVERY MILESTONE PAYMENT ON MENADRILL II

UAE-based MIS Group (Maritime Industrial Services - OSE: MIS), a diversified engineering and contracting group focused on the energy sector, has received a final payment of US$ 17.1 million, following the delivery and acceptance of MENAdrill II (Hull 110) for...

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Chevron Welcomes Shell to the Wheatstone Project

SAN RAMON, Calif., April 10, 2011 - Chevron Corporation (NYSE: CVX) today announced the signing of agreements with Shell Development (Australia) Pty Ltd to bring Shell into the Chevron-operated Wheatstone Project as a natural gas supplier and equity participant....

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Chevron awarded Framo for subsea pumping systems to the Jack & St.Malo

Major Subsea Pumping Contract awarded to Framo Engineering Chevron U.S.A. Inc. has awarded Framo Engineering the contract for engineering, procurement, manufacturing and delivery of complete subsea pumping systems for the Jack & St.Malo fields in the Gulf...

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NOBLE ENERGY BEGINS DRILLING AT TAMAR 6 GAS WELL

Tamar well operator Noble Energy Inc. (NYSE: NBL) has notified its Israeli partners in the license that the Sedco Express rig began drilling the Tamar 6 well yesterday. [Read More] Source: Glo...

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BOEMRE Approves Operations for Tenth Deepwater Well

NEW ORLEANS – The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) today approved a deepwater permit for the drilling of a tenth well that complies with rigorous new safety standards implemented in the wake of the Deepwater Horizon explosion and resulting oil spill. This includes...

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High oil prices to help double demand for FPSO vessels

Global demand for floating oil production and storage vessels is expected to more than double this decade as surging crude prices allow exploration to move deeper offshore, senior industry executives said on Monday. [Read More] Source: Reut...

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Austal has unveiled its study on the application of liquefied natural gas (LNG)

Austal has unveiled its study on the application of liquefied natural gas (LNG) as a fuel for several types of ferries, as an alternative to traditional fuel options in medium and high speed vessels.  Austal’s success is centred on the design and construction...

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Converteam Selected to Dynamically Position Gazflot’s Platform Supply Vessels

Rugby, 11 April 2011 - Power conversion specialist Converteam has been selected to supply its sophisticated C-Series dynamic position (DP) control systems for two platform supply vessels (PSVs) destined for operation in the oil and gas fields of Russia’s...

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Silent Departure of the Second Ecoship

On March 29, 2011, 2,000unit type pure car carrier S495 was named and delivered. She is the second and the last of 2-ship series of Kyokuyo's self-developed eco-friendly ship with a semi-spherically shaped bow that reduces the wind resistance. Featured in TV and...

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SFL - Acquisition of four 4,800 TEU Newbuilding Container Vessels

Ship Finance International Limited (NYSE:SFL) ("Ship Finance" or the "Company"), today announced that the Company has agreed to build four 4,800 TEU newbuilding container vessels at a state-owned shipyard in China with scheduled delivery in 2013. The aggregate...

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