Too many tankers leaves crude shippers dry

Global demand for oil is rising and the price of crude is surging – but companies in the business of shipping the valuable commodity by sea are suffering as the supply of tankers vastly exceeds the need for ships. For supertanker shipping companies, it’s a hangover...

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Second hand vessel purchasing still going strong

The market for second hand vessels has kept on building momentum during the past week, in a clear sign that whatever the conditions in the freight market, there will always be ship owners out there looking to find a good deal. According to the latest report from...

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Alliance Engineering awarded engineering and design contract for Tamar Platform

Wood Group's Alliance Engineering has been awarded a contract to provide detailed engineering and design services for the Tamar Platform Project, including topsides facilities and deck structure, to be located offshore Israel. The Tamar natural gas field will be operated by Noble Energy and is located...

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Chevron Awards Baker Hughes Contract for Deepwater ESP Systems

Big Foot development marks the first deepwater Gulf of Mexico deployment of in-well ESP systems Chevron U.S.A. Inc. has awarded Baker Hughes (BHI: NYSE) a contract to supply electrical submersible pumping (ESP) systems and production packers for seven producing...

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Sevan Marine seeks restructuring, cancels share issue

Norwegian oil services group Sevan Marine (SEVAN.OL) said on Thursday it had cancelled its planned $275 million rights issue and was seeking restructuring as it could not meet its project liquidity and financing requirements. [Read More] Source: Reut...

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ATP Completes Drilling Phase at Deepwater Gulf of Mexico Well

ATP Oil & Gas Corporation (NASDAQ:ATPG) today announced that it has completed the drilling phase of deepwater Mississippi Canyon ("MC") Block 941 A-2 well located at ATP's Telemark Hub, and all pay sands in the MC 941 A-1 well were present essentially confirming...

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Drydocks World to Build Self Elevating Platform

Drydocks World, the well established ship repair, conversion and new building Group announced today that it has signed a contract with Mumbai-India based construction group, Afcons Infrastructure to provide detail engineering, procurement, construction and delivery...

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An open hatch bulk carrier of the future

Oshima Shipbuilding Co., Ltd. and DNV are pleased to announce the completion of the first milestone of a joint programme to develop the ECO-Ship 2020, a concept design for an open hatch bulk carrier (OHBC) developed to significantly lower fuel costs, meet or exceed...

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China: Naming for Worlds First 3000m Deepwater Pipe Laying Crane Vessel

China Rongsheng Heavy Industries Group Holdings Limited , a large  heavy industries group in China, has collaborated with China National  Offshore Oil Corporation (“CNOOC”) to construct the world’s first-ever 3,000-meter deepwater pipe laying crane vessel...

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China: Mega oil rig changes game

Surrounding countries have increased oil drilling from the sea in recent years, resulting in a loss equivalent to 20 million tons of oil annually for China, Song Enlai, chairman of CNOOC's board of supervisors, told Oriental Outlook magazine. The total output...

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CMA CGM: new giant of the seas christened in

The CMA CGM Group, the world’s third largest container shipping company and first in France, is pleased to announce that the CMA CGM TITAN, an 11,400 teu* vessel, was christened at the Dunkirk Terminal in the presence of her godmother, Mrs Laurence Parisot, President...

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S.Korea Daewoo wins LNG ship order from Norway

South Korea's Daewoo Shipbuilding & Marine Engineering has landed an order to build at least two and up to four LNG carriers for Norway's Awilco LNG, the South Korean shipbuilder said on Thursday. [Read More] Source: Reut...

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