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%.
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
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)
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 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
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.
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 prime minister of the German state of Mecklenburg-Western Pomerania asked the European Commission to ease capacity limits imposed on eastern German shipyards as a condition for receiving state aid grants. State premier Harald Ringstorff told EU Competition Commissioner Mario Monti an increase would prevent the yards' improved productivity leading to further job losses. "Any such proposal will be looked at with the utmost care and attention
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
Deep-ocean exploration company Odyssey Marine Exploration, Inc., has been awarded the exclusive contract to conduct an archaeological excavation and recover the remaining valuable cargo from the SS Central America shipwreck located approximately 160 miles off the coast of South Carolina
Intertek, the global provider of quality and safety services, will address key topical issues at the NACE Corrosion 2014 conference this week. Corrosion costs $276 billion annually in the U.S. alone and is often responsible for damage, downtime and the costly replacement of vital industrial
A changing tax landscape doesn’t have to mean bad news – at least not just yet. A Changing Landscape Historically, bonus depreciation has had a significant effect on construction of new vessels, allowing businesses to initially expense 30 percent
EMAS, the operating brand of Ezra Holdings, a global offshore contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the group has been awarded subsea construction and offshore support contracts in Asia Pacific and West Africa with a combined
ITC Global, a leading provider of satellite communications to remote and harsh environments announce that it has launched a new corporate brand as the final step in bringing a series of recent acquisitions together as a single global company.
Reuters - Bulgaria, heavily dependant on Russia for gas and oil, will estimate its own reserves and seek alternatives to cope with any worsening of the Ukrainian crisis, it said on Tuesday. Bulgaria imports over 70 percent of its energy resources
First Medical Group and Hawkes Associates Limited announced a strategic partnership to deliver a range of risk management and training services to energy and construction industries in Libya and globally. Based in Aberdeen Hawkes Associates Limited have provided risk management services
Brunswick Marine announced an extended warranty on Mariner and Mercury outboard engines for commercial and governmental applications. The new two-year/1,000hrs*, limited warranty, effective January 1, 2014, covers the following engine ranges:
Lessons are still not being learnt when it comes to preventing engine room fires according to Braemar SA (Braemar Incorporating The Salvage Association). Following a review of incidents taking place in 2013, its regional director for Far East operations, Graeme Temple
Ship Finance International Limited (SFL) announced that it has agreed to acquire seven 4,100 teu container vessels built in 2002 in combination with long-term charters to a leading container line operator. The vessels are expected to be delivered to SFL over the course of the next few weeks
Software specialists The Acclaimed Software Company Ltd. announced the development of EPOCH , a marine management system on behalf of Offshore Marine Management Limited (OMM). EPOCH is an ESRI-GIS, web-based management system, providing reporting from offshore sites to onshore bases
Stolt-Nielsen Limited announced today the successful placement of senior unsecured bonds in a total amount of NOK 1,250 million (approximately $207 million USD) in a new seven-year bond issue carrying a coupon of 3m Nibor + 3.35%. The settlement date for the new bonds is expected to be March 18
Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has secured a contract from TS Offshore Limited (TS Offshore), to construct an ultra-high specification jackup rig worth approximately $500 million.
Singapore-based Otto Marine inform it has named the 'Norshore Atlantic' – which it considers to be the first vessel of its kind to be constructed in Asia – at its Batam Shipyard in Indonesia. The new offshore service vessel has been built to the MT6022XL Norwegian design
By Melissa Massey and Ben Garside, Reuters Norway's government will this spring launch a strategy to develop technology for capturing and burying heat-trapping emissions from polluting industries, aiming to make good on a pledge to build a full-size plant by 2020.