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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%.  


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. 


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


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.


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


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


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.


SITA UK, Forth Ports Form Port Recycling Hub

Suez Environment subsidiary, SITA UK, and Forth Ports Limited announced a long-term partnership that will see the creation of a major recycling and resource management hub based at the Port of Tilbury on the River Thames. The partnership is part of a growth strategy for both companies that


Port of Rotterdam Throughput Up by 0.6%

  The port of Rotterdam achieved steady results in the first half of the year. Total throughput increased by 0.6% compared to the first half of 2013. The throughput of crude oil increased by 3.3% while that of mineral oil products decreased by 13.5%. The throughput of coal grew by 9


ICS Calls for Harmonized ECA Inspections

Peter Hinchliffe

The International Chamber of Shipping (ICS) is encouraging the Paris Memorandum of Understanding on Port State Control to ensure that a harmonized approach to PSC inspections has been developed in advance of the January 1, 2015 deadline with respect to the implementation of the 0


ICBC Financial Leasing Purchase 2 CIMC Raffles Drilling Rigs

CIMC Raffles Semisubmersible Drilling Rigs

ICBC Financial Leasing Company Limited signed a leasing project with Schahin of two ultra-deepwater drilling rigs during China-Brazil Business Council-Annual Meeting 2014 on 17th July 2014. The contract values $1.08bn and eventually serves for Petrobras


ClassNK, Transas Partner for Simulator Classification

Photo courtesy of Transas Marine

ClassNK and Transas collaborate to improve marine simulator classification requirements ClassNK and Transas Marine Limited today signed a Memorandum of Understanding (MoU) in area of classification of maritime simulators. According to the agreement


HMC Chooses Kongsberg Offshore Simulator

The K-Sim Offshore simulator will feature detailed models of three HMC deepwater construction vessels.

Heerema Marine Contractors (HMC) has selected Kongsberg Maritime’s K-Sim Offshore simulation platform to enhance crane operator training and the safe, efficient implementation of heavy lift operations. With the contract signed on May 21, 2014


Tesoro Refining Wins 2011 Long Beach Oil Spill Case

Robert S. Crowder: Photo FF&S

Freeman Freeman & Smiley say that its lead trial attorney  Robert S. Crowder (assisted by attorneys Russell R. Fisk and John D. Van Ackeren) have celebrated a win with their client, Tesoro Refining & Marketing Company LLC in a lawsuit filed by Plaintiffs North of England Protecting


Singapore's Ezra Holdings Profits Rocket

Offshore construction vessel: Photo EMAS

Ezra informs that it has sustained another quarter of growing revenues and improving operating performance with fiscal 9M 2014 revenues crossing the US$1 billion mark. Highlights Gross profit up 73% to US$163.6 million in 9M14 on strong contribution from Subsea Services division


FERC Accepts Kinder Morgan's Application

Proposed  Magnolia LNG Project

Liquefied Natural Gas Limited (LNGL) informs that the US   Federal Energy Regulatory Commission (FERC) has accepted Kinder Morgan  Louisiana Pipeline LLC’s (KMLP) application pursuant&


Dire Need of NNS Offshore Accommodation: Analyst

Offshore workers: File photo

Declining North Sea production and increasingly mature assets are expected to drive demand for offshore accommodation support, with the attributed maintenance, refurbishment and shutdown work requiring additional personnel-on-board and workshop capacity


Rise of the Semisub Floatel

Declining North Sea production and increasingly mature assets are expected to drive demand for offshore accommodation support, with the attributed maintenance, refurbishment and shutdown work requiring additional personnel-on-board and workshop capacity, Douglas-Westwood reported


Otto Marine Secures $404m Charter Contracts

Photo courtesy of Otto Marine

Otto Marine Limited, an offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, informed that the group has secured charter contracts worth approximately $404 million in the first half of 2014 (1H2014).


Suezmax Vessel Delivered to NAT

Nordic American Tankers Limited (NAT) took delivery of its 21st Suezmax vessel, the Nordic Sprinter, built in 2005 at a shipyard in Korea. NAT agreed to purchase the vessel along with its sistership for $36.5 million each. NAT expects the delivery of the second vessel in early August 2014


Teekay Announces Public Offering

Teekay LNG Partners L.P. has announced  that it has agreed to sell 2,800,000 common units, which represent limited partner interests, in a public offering. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 420,000 common units


Treasure Hauled from SS Central America Shipwreck

Gold coins and a gold box lie in situ on the site of another shipwreck (Black Swan) site salvaged by Odyssey Marine Exploration (Photo courtesy of Odyssey Marine Exploration)

Odyssey Recovers Over 13,500 Silver and Gold Coins as Well as Gold Ingots, Dust, Nuggets and Jewelry From SS Central America Shipwreck; Newly Released Inventory Provides First Look at Time Capsule of Gold Rush-Era Treasures Odyssey Marine Exploration, Inc






 
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