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Aker Floating Production Wins $1b Contract

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.


LLMC Increases – ICS Supports IMO Agreement

ICS logo.jpg

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%.  


Swissco Steps Into Offshore Rig Chartering Business

Image courtesy of Swissco

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


Keppel Hitachi Zosen To Buy Selected Businesses

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 Upgrades Vessel Sizes

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


Boat Manufacturer Introduces Warranty Scheme

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 to Buy Two More Ultramax Bulkers

Bulk carrier: File photo

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


MAN B&W Tier-II Engine Ready for Delivery

Photo courtesy MAN Diesel

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.


UK Minister Rebuffs Plea to Delay SOx Limit Implementation

Minister Stephen Hammond

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.


Swiber Holdings Hit the Ground Running in 2014

Francis Wong: Photo courtesy of Swiber Holdings

Construction & support services provider to the offshore oil and gas industry, Singapore's Swiber Holdings Limited (Swiber), announce they have already been awarded 5 sizeable contracts in 2014. Three of these contract, which amounted to approximately US$145-million, were awarded for works that will be executed in Latin America and Southeast Asia. The remaining two contracts, which aggregated to approximately US$90-million


Seaspan Raises $80 Mn from Shares Sale

Image Courtesy Seaspan Corporation

Seaspan Corporation announced today the close of the sale of its previously announced public offering of 3,200,000 8.20% Series G Cumulative Redeemable Perpetual Preferred Shares (the "Series G Preferred Shares") for gross proceeds of $80 million.


US Navy Ships Conduct Astern Replenishment-at-sea

Sailors man the rails of Avenger-class mine countermeasures ship USS Pioneer (MCM 9) as the ship leaves a Commander, U.S. Fleet Activities Sasebo pier. Avenger-class ships are designed as mine sweepers/hunter-killers capable of finding, classifying and destroying moored and bottom mines. (U.S. Navy Photo by Kristopher S. Haley)

“While replenishments-at-sea are routine, astern refueling is unique and requires precise navigation and coordination,” said Lt. Cmdr. Jason Ileto, fleet replenishment scheduler for Commander, Logistics Group Western Pacific. “[USS Pioneer (MCM 9)] and other minesweeping vessels


Höegh LNG Speeds up FSRU Conversion

Photo Höegh LNG

Höegh LNG Holdings Ltd. today announced that it has signed agreements with Wärtsila Oil and Gas (EPCIC regas) and Moss Maritime (engineering) for its first FSRU conversion project, including the ordering of critical equipment with long lead time.


Fednav Welcomes Innovative Ballast System at Indiana Port

Fednav is committed to conducting business in an ethical and sustainable manner

Fednav Limited, the largest international bulk shipowner in Canada, welcomed to the Port of Indiana-Burns Harbor, the Federal Caribou, one of seven new oceangoing lakers equipped with a ballast water treatment system-a first for the Great Lakes.


Grand Bahama Shipyard Adds Four Executives

Ian Edward Ross (Photo: GBSL)

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four new positions to its executive team in 2016.   Taking up the new executive positions are Ian Edward Ross, Don Keirce


Damen Now Offfers AEC Scrubbers

(Photo: Damen)

Damen Shipyards Group said it has signed a sales agreement with scrubber producer AEC Maritime, meaning Damen will now be able to offer ship owners exclusive access to efficient, low maintenance and IMO-certified exhaust gas scrubber technologies.  


Pakistan Mulls Second LNG Import Terminal

BW LNG. Photo:  BW Group

 BW Group (BW) has signed a 15-year agreement with Pakistan GasPort Limited (PGPL) to provide LNG regasification services utilizing a new-build Floating Storage and Regasification Unit (FSRU) for the second Pakistan LNG terminal.  


Green Ships & Compliance

Ship´s emissions.jpg

Environmental regulations for ships are getting more stringent, but automated sensor technology could help ship operators remain in compliance.   The recent agreement signed in Paris, at the UN Climate Change Conference, will require all industries to keep reducing their greenhouse gas


A Shipyard Grows in Trinidad & Tobago

La Brea_T&T Shipyard Port_FIX..jpg

Spurred by Panama Canal Expansion and U.S. LNG Export, $500 Million Shipyard Projects Starts   As Trinidad and Tobago seeks to diversify its economy, it is banking on a massive shipyard construction project as the centerpiece of a maritime industry and economic revival


Fednav's New Bulker Features High-tech BWT System

Federal Caribou (Photo: Fednav Limited)

Fednav Limited,  an  international bulk shipowner in Canada, has welcomed to the Port of Indiana – Burns Harbor, the Federal Caribou, one of seven new oceangoing lakers equipped with a ballast water treatment system—a first for the Great Lakes


MPA Asks Singapore Maritime Firms to Adopt Sustainability Reporting

Image:  Maritime and Port Authority of Singapore

 In June this year, the Singapore Exchange (SGX) introduced sustainability reporting on a ‘comply or explain’ basis.  To assist and encourage the maritime sector to embrace the new requirement for Sustainability / Integrated reporting


Will Vessel Prices Continue Relentless Slide?

Graph: Poten & Partners

 Tanker Opinions, published Poten & Partners says that, for a shipowner, there are usually a few twists to the traditional capital budgeting process.   A shipowner that is deciding whether to invest in new capacity has at least three other factors to consider: (1) his


DP World Rating Upgraded by Fitch

Photo DP World Port

Fitch Ratings recently upgraded DP World Limited’s  Long-Term Issuer Default Rating (IDR) to BBB from BBB- and its Short-Term IDR to F2 from F3. The rating outlook is stable.   The upgrade follows on the Fitch announcement in November 2015 that DP World’s outlook had been


RBS Looks to Sell Turkish Loans in Bid to Exit Shipping

Royal Bank of Scotland has put its portfolio of Turkish shipping loans up for sale, in the latest move by the state-backed bank to exit this troubled sector and cut overall losses through asset sales, two sources told Reuters.   RBS, which has not made an annual profit since 2007


Adani Ports Profit Grows by 31 % in Q1 FY17

Karan Adani. Photo: Adani Group

 Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and the logistics arm of Adani Group, has announced operational and financial performance for the first quarter ended June 30, 2016.   Consolidated total income (including other income) on a Y






 
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