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%.
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 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
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.
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
Schlumberger Limited announced today that vice chairman Victor Grijalva will retire at the end of the year. The milestones in Grijalva's successful 37-year career with Schlumberger are mirrored in the company's success over nearly four decades. Commemorating Grijalva's longstanding leadership, chairman, president and CEO Euan Baird remarked, "In an impressive series of management positions around the world, Victor has
The International Bunker Industry Association (IBIA) reported a number of significant, positive developments for the bunker industry following the meeting in London last week of the IMO Bulk Liquids & Gases (BLG) subcommittee. Firstly, the subcommittee agreed to streamline proposals designed to reduce sulphur emissions from marine fuel oil. Three options now remain on the table, for discussion at MEPC 57 starting on March 31, 2008
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 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
Modern heavy lift capabilities are crucial for safe, efficient operations offshore Heavy lift operations offshore are an awe-inspiring feat, but an operation that requires consistent monitoring of man, machine and procedure to ensure they are conducted in as an efficient and safe manner as
In an effort to spread out oil and gas production to other parts of the country and increase overall oil production, Brazil has finally intensified hydrocarbon exploration along its northeastern and northern coasts. These are some of the poorest regions in the country and infrastructure for oil
The next hacker playground: the open seas - and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet. In this internet age, as more devices are hooked up online, so they become more vulnerable to attack
Decreasing seasonal sea ice has opened up Arctic waters for longer periods with resulting potential economic opportunities in commercial shipping, cruises, commercial fishing, oil, and mining. In light of the importance of U.S. efforts to effectively manage Arctic issues, GAO was asked to examine U
U.S. Department of Homeland Security Secretary Jeh Johnson is scheduled to deliver the keynote address at the U.S. Coast Guard Academy's 133rd Commencement Exercises May 21, 2014. Secretary Johnson is the fourth Secretary of Homeland Security and assumed his office Dec. 23, 2013.
New research by the UK's Leeds Metropolitan University (LMU) claims the cruise industry is ignoring its responsibility to the environments and societies it visits. The research has provoked a strong response from the Cruise Lines International Association (CLIA) according to shipping trade
International maritime logistics expert Cory Logistics, part of Braemar Shipping Services plc, has formed a joint venture with universal supply chain specialist Navarm Limited to create a single source provider for a full suite of maritime and land based services for the nuclear new build industry
The Board of Commissioners of the Port of New Orleans unveiled a new modern, streamlined logo today to kick-off the 6th annual Critical Commodities Conference. The rebranding effort represents the culmination of work of an internal committee consisting of staff from a variety of port
Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda. The final dividend for 2013 of $0.50 per common share recommended by the Board of Directors on February 7
Rio Controls & Hydraulics (RCH) said it has developed a new steering system by modifying existing inductive sensors used in the oil and gas industry to reach a design that the company said will provide accurate and longer lasting sensor command and feedback signals.
The Keppel Corporation released its limited unaudited results for the first quarter ending March31, 2014, reporting a 5% decrease in net profits to S$339 million compared to Q1 2013's S$357 million, though the company attributed the decline to one-off gains from the reversal of provision from the
During the year ended 31, December 2013 China Rongsheng, the largest non-state-owned shipbuilder in the PRC, reports that revenue of the Company was RmB1,343.6 million, a decrease of 83.1% from RmB7,956.3 million for the year ended 31 december 2012. Excerpts from the report follow:
Oiltanking Partners, L.P. announced that the board of directors of its general partner declared a cash distribution of $0.495 per unit, or $1.98 per unit on an annualized basis, for the first quarter of 2014. The first quarter distribution represents a 5
COSCO Corporation (Singapore) Limited says that its subsidiary Dalian and Guandong shipyards in China have won the following offshore vessel construction contracts: 1. COSCO (Dalian) Shipyard Co., Ltd., has secured a contract from an Asian company to build four Emergency Response / Rescue / Field
A recent meeting at the National Transportation Safety Board in Washington, D.C. (attended by International Cruise Victims (ICV) Board representatives) discussed the new International Maritime Authority (IMO) policy of using “the ship as the lifeboat”