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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.


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.


FSRU Golar Tundra Sold to Golar LNG Partners

Golar LNG Limited has entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit (FSRU), to Golar LNG Partners LP for a sale price of $330 million.   In connection with the closing, Golar LNG Partners will receive a daily fee plus operating


Cummins Expands Marine Tier 3 Product Line

Image: Cummins

Cummins Inc., a manufacturer of diesel engines and generator sets for the marine industry, has launched a new Onan marine U.S. Environmental Protection Agency (EPA) Tier 3-certified generator, the 55-kW MDDCM. “The expansion of our EPA Tier 3 marine product lineup to 55 kW with the MDDCM


Adani Ports Income Up by 15%

Gautam Adani Courtesy Adani Ports

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter and nine months ended December 31, 2015. Consolidated total income including other income increased by 15% to


Sentinel Launches New Rudder Feedback Unit

Sentinel manufactured Rudder Feedback Unit (Photo: Sentinel)

Sentinel, a Beier Radio company, has designed and manufactured a new Rudder Feedback Unit (RFU) with many new features, including watertight components and connections that can be flooded in up to one meter of water for a 24-hour period and still provide accurate positioning for control systems


Norway Exempts Idled OSV's From License Fee

Owners of ships serving the oil industry will be exempt from paying license fees for 2016 on vessels that have been mothballed, Norway's industry minister said in a statement on Tuesday. The price of crude oil has plunged 70 percent since mid-2014


Management Appointments at Modern Terminals

Keith Saunders

Modern Terminals Limited (MTL), Hong Kong’s longest established container terminal operator, today announced the appointment of Mr. Keith Saunders as its new Managing Director – Hong Kong, effective from 1st February 2016. Mr. Saunders will lead Modern Terminals’ Brand


Global Marine Takes Majority Stake in CWind

File photo: CTruk

Global Marine Systems Limited has acquired a majority interest in offshore renewables specialist CWind Limited. According to Global Marine, the purchase demonstrates its commitment to the offshore renewable sector and adds a diverse range of construction and O&M services to its current


VPS Raises Concerns Over Revised Rules for Fuels

Veritas Petroleum Services (VPS) expressed reservations about some of the proposed revisions to the international ISO 8217 specifications of marine fuels. Areas of significance include proposed changes that may be unfavourable to ship owners and operators. Clause 5 General requirements


Globus Maritime Reclassifies Board Member

Logo

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28, 2015, the Company’s Board of Directors  was comprised of two Class II directors, two Class III directors


Total Signs Deal to Supply LNG to China's ENN

Image: ENN Energy

 Total SA has signed an agreement to supply liquefied natural gas to ENN Energy in China, according to a news release on the French energy company's website.   The deal is for 0.5 million metric tons of LNG per year for a period of 10 years and will be delivered from the company's


DP World Logs 3.0% Growth

DP World Jebel Ali Photo DP World

DP World Limited handled 61.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2015, with gross container volumes growing by 3.0% on reported basis and 2.4% on a like-for-like  basis.


N.Korean Navy Incursion Draws Warning Shots

A North Korean patrol boat crossed into South Korean waters early on Monday and retreated after the South Korean navy fired warning shots, a South Korean military official said. The incursion came amid heightened tensions on the Korean peninsula


IMO Revises Guidelines for AIS Use

The International Maritime Organization (IMO) has published revised guidelines for onboard operational use of shipborne automatic identification systems (AIS), as Resolution A.1106(29).   These are operational guidelines, developed to promote the safe and effective use of AIS


Furuno Establishes China Subsidiary

FURUNO ELECTRIC CO., LTD. announced that its new subsidiary in Hong Kong has been established and has commenced business operation on February 1, 2016.   The new subsidiary, FURUNO CHINA CO., LIMITED (FCN) is FURUNO's wholly-owned subsidiary company incorporated in Hong Kong.  


Dynasafe Promotes Chas Reid

Chas Reid (Photo: Dynasafe)

Dynasafe BACTEC Limited has appointed Chas Reid to International Marine Services Director.   Kevin Kneebone MD, Dynasafe BACTEC said, “Chas has over the last 19 years been totally committed to the organization and has in recent years






 
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