Marine link


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.

More Ships to Bangladesh Shipbreakers

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 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

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.

Largest Underwater CO2 Release from Pipeline - DNV GL

Pipeline DNV GL

  Carbon capture, utilisation and storage (CCUS) is gaining momentum to meet stringent climate change goals and secure energy supplies for the future. To fully understand the environmental and safety implications associated with the development of CO2 pipelines

GBP1mln Grant to Create 100 Jobs at Ferguson Shipyard

Ferguson Marine. Photo by Clyde Blowers Capital

 The last commercial shipyard on the Clyde, Scotland, has secured grant to help safeguard 125 jobs and create a further 100. Ferguson shipyard has been awarded a £1m grant to refurbish its Port Glasgow premises and help fund new jobs.  

The Latest on Ballast Water Mismanagement

Dennis Bryant

On October 5, 2015, the United States Court of Appeals for the Second Circuit issued a 65-page decision holding that, for the most part, the 2013 Vessel General Permit (VGP) promulgated by the Environmental Protection Agency (EPA), was arbitrary, capricious and not in accordance with the law

Swan Energy to Invest $845 mln for FSRU Terminal

Image by Swan Energy Limited

 Swan Energy Limited will invest around Rs. 5,600 crore ($845 mln) towards setting up of Jafrabad LNG Port project in Gujarat with one jetty-moored Floating, Storage and Regasification Unit (FSRU).   The joint venture project by Swan Energy Limited (SEL) and its Belgium partner Exmar

Beware the Dangers of Cat Fines

Image: CMT

Horror stories frequently circle the maritime industry portraying tales of onboard damages induced by catalytic fines, or cat fines, used in oil processing.   All cat fines that remain in fuel oil after centrifugal separation have the potential to cause abrasive wear and damage to the engine

Magnolia LNG Receives Final FEIS

Maurice Brand is the founder, Managing Director and Chief Executive Officer of Liquefied Natural Gas Limited Photo LNG

Liquefied  Natural  Gas Limited and Magnolia LNG LLC (Magnolia) announced that the United States Federal Energy Regulatory Commission (FERC) issued the Final Environmental Impact Statement (FEIS) for the Magnolia LNG (MLNG) project in Lake Charles, Louisiana

Triyards Extends Product Range to Escort Tugs

Courtesy Triyards

  TRIYARDS Holdings Limited has extended its product range to escort tugs for new client Greenbay Marine Pte Ltd, a Singapore-based international specialist marine craft group, demonstrating the Group’s established versatile engineering capabilities which have driven its continued

Lithuania Opens Door to LNG Re-exports

Lithuania's parliament on Tuesday approved amendments which will allow the Baltic state to re-sell liquefied natural gas (LNG) on the international markets, the energy ministry said.   The current laws require the country's regulated energy and heat producers to buy at least 540 million

Swan, EXMAR Partner for India’s First FSRU Terminal

Image: © Swan LNG

EXMAR has entered into a binding Term Sheet with Swan Energy Limited for the joint development and operation of the Jafrabad LNG Port project, to be located in the State of Gujarat, India.   The Jafrabad LNG Port will be a 5 million tons per annum (MTPA) LNG receiving terminal

Indian Ocean: No Insurance Premium Reduction Likely

Image: Protection Vessels International Ltd

 In October a number of trade bodies released a joint press release to formally announce a reduction of the High Risk Area (HRA).     Insurance companies have said the reduction may not result in reduced insurance costs due to the assessment of insurance risk being dependent on

NOL Acquisition Soon?

Pic: Neptune Orient Lines

 Neptune Orient Lines(NOL) confirmed that it is continuing in discussions with respect to a potential acquisition of the group as previously announced on Nov 7 on the local bourse, reports Business Times.   This comes after the Singapore Exchange Securities Trading Limited (SGX-ST)

U.S. Joins Lawsuit Alleging ISS Overbilling

The government has announced  that it has joined a lawsuit alleging that Inchcape Shipping Services Holdings Limited and certain of its subsidiaries (collectively, Inchcape) violated the False Claims Act by knowingly overbilling the U.S

CMA CGM Slowed by Rates, Sees 2016 Recovery

The containership CMA CGM Marco Polo underway (file image)

France's CMA CGM, the world's third-largest container shipping firm, said freight rates should recover next year after a market downturn led to a sharp fall in its third-quarter profits.   The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk

MOL Subsidiary to Build Ro-Pax Ferries

Ro-Pax(roll onroll off passenger)ferries.

  Mitsui O.S.K. Lines, Ltd. announced that its group company Ferry Sunflower Limited is moving ahead with plans to construct two large-scale Ro-Pax (roll on/roll off passenger) ferries. The newbuilding ferries will be delivered in March and June of 2018 as replacements for the Sunflower

CMA CGM in Talks to Buy NOL

Courtesy CMA CGM

  CMA CGM confirms that it has entered into exclusive discussions with Neptune Orient Lines Limited (NOL) and Lentor Investments Pte. Ltd. (a wholly-owned subsidiary of Temasek Holdings (Private) Limited), its controlling shareholder, with respect to a potential combination with NOL

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