ABCO INDUSTRIES LIMITED
Aker Floating Production ASA said it had won a 10-year contract from Reliance Industries Limited worth $1.1b. Aker said Reliance Industries Limited had exercised an option to call a 10-year bare boat contract with Aker's subsidiary Aker Contracting for the FPSO (floating production, storage and offloading vessel) Aker SMART 1.
The International Chamber of Shipping (ICS), which represents all sectors and trades and over 80% of the global shipping industry, and leads shipowner representation at the International Maritime Organization (IMO) Legal Committee, has expressed strong support for the agreement reached by IMO this week to increase the limits of liability under the Limitation of Liability for Maritime Claims Convention 1996 (LLMC), by 51%.
Keppel Hitachi Zosen Limited (KHZ) has agreed to purchase the shiprepair/shipbuilding and related businesses of Keppel Marine Industries Limited (KMI) for $167 million in cash. Total net assets include $69 million, resulting in a gain of $4 million for KMI. KHZ will acquire all of KMI's investments in Keppel Singmarine Dockyard Pte, Eagle Engineering Company (100 percent), Keppel Philippines Marine (11.6 percent) and Penguin Boat International (16.5 percent)
Danaos Corporation agreed with China Shipbuilding Trading Company Limited the upgrading of its earlier order for four 6,800 TEU containerships to four 8,400 TEU vessels and signed the amendments to the relevant shipbuilding contracts. These vessels will be built by the Shanghai Jiangnan Changxing Heavy Industry Company Limited and are expected to be delivered to Danaos during 2010. The total capital expenditure commitment for this project is in the region of $500 million and is expected
Smoker Craft Inc. give warranty on hull & superstructure, other components on most of its models An industry leading warranty gives even more reliability to the confidence in the Smoker Craft family of boats. The warranty includes a limited lifetime warranty on the hull and structure, and a six-year warranty on all components, carpet, upholstery and electronics on most models. It is fully transferable to a second owner, and includes parts and labor.
Singapore based marine service provider for the offshore oil and gas industry, Swissco Holdings Limited, informs it has entered into a definitive Sale and Purchase Agreement for the S$285.0 million acquisition of Scott and English Energy Pte. Ltd. which will enable Swissco to move into the offshore rig chartering business. Swissco adds that the SPA was signed with Double Dragon Energy Holdings Limited for the acquisition of the entire issued and paid-up share capital in Scott and English
The first Tier-II compliant MAN B&W engine has finished production at HHI-EMD (Hyundai Heavy Industries Engine & Machinery Division) in Korea and is ready for delivery. The low-speed, two-stroke MAN B&W 6S50ME-C7 type engine will power a shuttle tanker (hull number 1749), currently under construction by Samsung Heavy Industries Co., Ltd., and ordered by Teekay, global provider of marine services to the oil and gas industry. Ship delivery is planned for July this year.
CTG ship-breakers import 42 large ships in last two months Chittagong-based ship-breakers imported 42 large-sized recyclable ships in February and March this year at a cost of US$ 45 million, according to Jasim Khan's news report in the Financial Express. Industry sources said the ships will be able to supply about one million tonnes of MS rod -- a major construction material -- against the annual national demand for four million tonnes.
Baltic Trading Limited continues to execute its growth strategy with the exercise of its option to acquire two additional Ultramax newbuildings. The two option vessels, which will have the same specifications and purchase price as the Ultramax newbuildings Baltic Trading previously agreed to acquire, are expected to be delivered to Baltic Trading during the second and third quarters of 2015. John C. Wobensmith, President and Chief Financial Officer, commented
An attempt by the UK’s Chamber of Shipping last week to persuade the British government that the industry needed more time to comply with new sulphur emission limits entering force on 1 January next year received short shrift from the shipping minister. However the Chamber, along with other European shipowners' associations, is reported to be determined to continue its campaign, reports shipping trade association Maritime London.
TMS Cardiff Gas Ltd. has signed a contract with Hyundai Heavy Industries of Korea for the construction of two 78,700 cbm LPG carriers with the option to build another two. The vessels are scheduled for delivery in Q2 and Q3 2017, when they will enter into time charter contracts with Shell
Rolls-Royce Holdings plc today announces the appointment of Sir Kevin Smith CBE as a Non-Executive Director. Sir Kevin will join the Board with effect from 1 November 2015 and will become a member of the Nominations and Governance Committee
The Royal Thai Navy has ordered a new 32-meter tug from shipbuilder Italthai Marine Limited of Thailand, announced the vessel’s designer, Robert Allan Ltd. Italthai Marine, whose Managing Director Wirat Chanasit inked the construction deal with Navy Commander Admiral Krisorn
BIMCO says that the co-sponsors of BMP 4 have agreed to a revised definition of the High Risk Area. The High Risk Area is now defined as being bounded by: In the Red Sea: Latitude 15oN In the Gulf of Oman: Latitude 22oN Eastern limit: Longitude 065oE Southern limit: Latitude 5oS
Nordic American Tankers Limited (NAT) has today taken delivery of the first of two recently purchased secondhand Suezmax tanker vessels. NAT announced in July that it had agreed to acquire two 2010-built ships for delivery in September and October 2015
Vard Holdings Limited announced it has secured a bareboat charter contract for the first of two vessels whose original shipbuilding contracts were terminated earlier during the year. The vessel, a platform supply vessel (PSV) of VARD 1 08 design
U.S. derivatives regulators are revising their proposal to limit the positions that traders can hold in commodity markets to make it easier for some hedge funds and banks to keep large trades. The Commodity Futures Trading Commission wants to allow financial firms to count their market
The European Commission has approved under EU state aid rules Finland's plans to grant €23 million to construct a small scale LNG terminal at Pori on Finland's west coast. The European Commission has concluded that Finland's plans to grant €23 million of public funding for
The UK Chamber of Shipping has signed a Memorandum of Understanding with the Society of Maritime Industries and British Marine, to set out the basis for the three organisations to work together for the benefit of the industry as a whole.
Beach Energy Limited announced that Mr Robert Cole will, on cessation of his employment with Beach on 14 October 2015, continue as a non-executive director of the company. Mr Cole will nominate for re-election as a non-executive director at the 2015 annual general meeting.
UK P&I Club provides practical guidance to Members in relation to piracy in West Africa. Stuart Edmonston, Head of Loss Prevention, says: “We have seen a sizable shift in pirate activity, from Somali to West Africa, and are witnessing an increase in incidents particularly offshore
Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels, has secured new contracts for the design and construction of two Offshore Subsea Construction Vessels (“OSCV”) for a new customer
Scorpio Bulkers Inc. announces purchase of 1,436,352 common shares by Scorpio Services Holding Limited Dry bulk commodities shipper Scorpio Bulkers Inc. announced today that Scorpio Services Holding Limited has purchased an aggregate of 1,436
Québec Minister of International Relations and Francophonie Christine St-Pierre and Indiana Lieutenant Governor Sue Ellspermann today announced that the Province of Québec and the State of Indiana will launch a new partnership to intensify their collaboration in Great Lakes/St
The Panama Canal continues to experience an increase in transit backlog due to recent locks maintenance work, coupled with high arrivals during the last week of September. In response to this situation, scheduled non-critical maintenance work was postponed and additional crews have been