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%.
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
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
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)
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.
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
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.
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.
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.
The Maritime Alliance (TMA) has partnered with the International Trade Administration, part of the U.S. Department of Commerce, to organize and partially fund an initiative to increase exports from small maritime technology companies (typically $2 million revenue and 20 people or below with
Within a few weeks of unveiling a new compact tractor tug jointly designed with Robert Allan Limited, Turkish shipbuilder Sanmar has secured an order from a port on the west coast of New Zealand. Port Taranaki has awarded the Sanmar a contract to build the very first of its exclusive
In 2017, the Danish Maritime Authority will contribute to a pilot project on the development and testing of a system that collects real-time data from various components on board ships. The Aalborg-based company GateHouse is behind the pilot project
A consortium comprising Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and the Shipping Corporation of India Ltd. (SCI) took delivery of a new liquefied natural fas (LNG) carrier on November 30, 2016, in South Korea.
GE’s Marine Solutions announced that its LM2500 marine gas turbines will power the Indian Navy’s P17A stealth frigate. The LM2500 gas turbines will be provided by Hindustan Aeronautics Limited (HAL) Industrial and Marine Gas Turbine division, Bangalore, India under license from GE.
The Harris Pye Engineering Group has been awarded a contract by a Chinese LNG company to convert six of its vessels to low sulphur diesel oil (LSDO), with an option for conversions on further vessels to follow. The group has undertaken work, predominantly on main and auxiliary boiler plants
Taiwan's shipping lines aren't looking quite so young and fresh as they were earlier, reports Bloomberg. While the global container industry has embarked on a spree of pairings and menages-a-trois over the past 12 months, Taiwan's shipping lines have remained proudly single.
The launch ceremony of DEME’s 3,500m3 LNG-powered trailing suction hopper dredger (TSHD) MINERVA took place on 3 December at Royal IHC's shipyard in Kinderdijk, The Netherlands. The official name giving and christening ceremony will take place in the spring of 2017 in Zeebrugge, Belgium.
India's Ministry of Shipping held a consultation meeting with various stake holders on ‘Policy for Award of Waterfront and Associated Land to Port Dependent Industries in Major Ports’ in New Delhi. The policy was approved by the Union Cabinet earlier this year and
Strong demolition has been a prominent feature of the shipping industry this year, as challenging market conditions continue to drive a significant supply-side response in a number of sectors, says Clarksons Research. Across the total shipping fleet
From 1 January 2020, a new global sulphur cap on marine fuels will come into effect which will turn the whole bunker industry upside down; and World Fuel Services is urging the shipping, bunkering and energy sectors to work together to meet this new challenge.
DNV GL’s Tanker Working Group looked at the latest trends in the tanker segment with a special focus on the impact of upcoming emissions regulations at its 31st meeting in Hamburg recently. Some 25 representatives from the tanker industry met with DNV GL experts in the
In the four years since its coating with Jotun’s Hull Performance Solutions (HPS) system, COSCO Europe has reached new heights of efficiency, cost control and environmental performance. Figures released by Jotun show that the 2008-built, 10,062 TEU container ship has sliced fuel costs by $4
Following the success of the inaugural Asian Marine Casualty Forum (AMCF) in 2015 and by popular demand, the bi-annual industry forum aimed at addressing the current crises in maritime casualty management, is back for the second time running and officially launched in Singapore today
Shipping is a truly global industry with owners based all over the world, says Clarksons Research. Interestingly, ownership is also very fragmented with over 90,000 vessels owned by more than 24,000 shipowners, with an average of around four ships per owner.