Australia-based Buccaneer Energy sees its 'Endeavour – Spirit of Independence' en route to Cook Inlet, Alaska. Buccaneer says it jack-up rig has been loaded on to the heavy lift vessel Kang Sheng Kou bound to drill for fossil fuels in waters off the coast of Alaska. The delivery of the Endeavour jack-up rig to the Cook Inlet will complete the first phase of Buccaneer’s business plan started almost 2 years ago. That plan included the acquisition of the Endeavour and the modification and repairs in Keppel FEL shipyard, which was managed by Buccaneer’s internal management team. The Endeavour project was funded through a joint venture company Kenai Offshore Ventures, LLC (“KOV”). With Buccaneer in the joint venture are Singapore listed Ezion Holdings Limited, that specializes in the development, ownership and chartering of strategic offshore assets and the provision of offshore marine logistics and support services to the offshore oil and gas industries, and the Alaska Industrial Development and Export Authority (“AIDEA”). AIDEA will be investing a total of US$23.65-million into KOV on completion of the mobilization phase. “We are very excited to finally have the Endeavour on its way to the Cook Inlet,” said Jim Watt, President of Buccaneer Alaska
The Belgian dredging, environmental and marine engineering group DEME Group and Chinese COSCO Shipping have officially embarked on a joint journey to develop offshore wind energy in China, under an umbrella agreement signed on 31 October, following the two companies’ joint venture announcement in May. DEME and China COSCO Shipping are both market leaders in their sectors and have found one another in the COSCOCS - DEME joint venture active in offshore wind energy in
Keppel Shipyard Limited has delivered the floating production storage and offloading vessel (FPSO) Espirito Santo to SBM Offshore. The vessel has left Singapore for deployment in the Espirito Santo field in offshore Brazil. The FPSO is capable of processing 100,000 barrels of oil per day (bopd) with a maximum storage capacity of two million barrels of oil. It will be leased to the BC-10 Joint Venture, which is operated by Shell with ONGC Campos Ltda. and Petróleo Brasilieiro S.A
Tidewater Inc. announced today the following update with respect to its negotiations with Sonangol, the national oil company of Angola, regarding Sonatide, the joint venture between Sonangol and Tidewater through which Tidewater markets its boat services to energy companies for operation in the waters offshore Angola. Tidewater has a 49% ownership interest in Sonatide. The Company has previously announced that its Sonatide joint venture agreement with Sonangol expires on March 31
AMEC forms a joint venture with Samsung Heavy Industries & Samsung Engineering to serve the offshore energy sector. AMEC will carry out design engineering for fixed and floating offshore platforms, FPSOs and subsea pipelines for Samsung’s future offshore oil and gas projects. The joint venture, which is subject to final regulatory approvals, has been named AMEC Samsung Oil and Gas LLC (ASOG). It is 51 per cent-owned by Samsung and 49 per cent by AMEC and will be based in
SBM Offshore has entered an agreement with Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) for the acquisition of a stake in the joint venture companies incorporated for the purpose of owning and operating Floating Production Storage and Offloading (FPSO) Turritella, the company announced today. Mitsubishi Corporation (30 percent interest) and NYK Line (15 percent interest) have acquired a 45 percent combined stake in the joint venture companies
The Cuban government is reportedly offering 59 offshore oil blocks for joint venture projects with foreign companies as part of its bid to develop the local hydrocarbon industry and remedy national fuel shortages.
Golar LNG Limited signed a share purchase agreement with OLT Energy Toscana SpA in November 2006 for the acquisition of 20% of shares in OLT Offshore LNG Toscana SpA (OLT-O). The purpose of the joint venture company OLT-O is the construction of the Livorno offshore LNG import and regasification terminal, which will be located approximately 20 kilometers off the coast. Source: CCN
The intitiative is aimed to provide new opportunities for finance professionals and capital hungry maritime companies from around the world. To highlight more of the maritime value chain at its leading maritime event week, Nor-Shipping will enable copmanies to pair up, network and showcase themselves. The initiative includes “Venture Park” and “Venture Forum”. Venture Park Venture Park will provide 12 start-up companies with a platform for testing the market and
Al Khalij Commercial Bank (al khaliji) QSC has provided financing for the two Nakilat shipyard joint ventures: Nakilat-Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ) for US $120m and US $40m respectively. Nakilat is a Qatari marine transport company providing the essential transportation link in the State of Qatar’s LNG supply chain. The company says its LNG shipping fleet is the largest in the world, comprising 56 LNG vessels
Specialist offshore contractor Seaway Heavy Lifting, a 50/50 joint venture between Subsea 7 S.A. and K&S Baltic Offshore (Cyprus) Limited, is now a wholly-owned subsidiary of Subsea 7. Subsea 7 said it acquired the remaining 50 percent shareholding in Seaway Heavy Lifting Holding
DONG Energy has decided to retire “Vindeby”, the world’s first offshore wind farm, which 25 years ago marked the birth of the offshore wind industry. Today, offshore wind is a recognised and proven renewable energy technology
Port of Rotterdam signs a ‘memorandum of understanding’ (MoU) with the State Government of Ceará with the purpose to jointly study a potential cooperation. This may lead to the joint venture Industrial Port Complex of Pecém.
The Competition Commission of Singapore (CCS) has given the nod to a proposed joint venture between three Japanese shipping lines. Japan’s big three shipping groups, Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK)
Van Oord has been awarded a contract by the Brazilian Ministry of Transport, Ports and Civil Aviation for the capital and maintenance dredging of the port of Santos. This project in the largest port of South America will be executed in a joint venture with Boskalis
Royal Boskalis Westminster N.V. (Boskalis) and joint venture partner Van Oord have been awarded a contract by The Brazilian Ministry of Transport, Ports and Civil Aviation for the capital and maintenance dredging of the port of Santos, the largest port of South America
Global Maritime Consultancy & Engineering, a provider of offshore marine warranty, dynamic positioning and engineering services, has completed a suitability survey for the world’s second largest semi-submersible - the ‘Xin Guang Hua’ - in advance of her maiden voyage
Blue Water Ventures International, a historic shipwreck research and recovery company, has entered an agreement with Under Marine Group to joint venture on future deep water wreck sites located in and around the waters of Great Britain and the Caribbean.
Fincantieri, China State Shipbuilding Corporation (CSSC) and Carnival Corporation & plc signed a binding Memorandum of Agreement (MoA) for the construction of two cruise ships, with an option for additional four, the first units of the kind ever built in China for the Chinese market.
Marlink has signed an agreement to enter into a joint venture with the satellite connectivity business of Greece and Cyprus based TNL Group, enabling it to launch a brand new maritime satellite communications expert, Marlink CG. Delivering a wide portfolio of innovative Marlink VSAT (Very Small
COSCO Shipping Heavy Industry Co is planning to cut the number of shipyards that are able to manufacture offshore engineering products from five to two by 2020, China Daily reported. China's third largest shipbuilder by output makes this move as the company's latest effort to cut
Technology group Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed a new joint venture company agreement. The new joint venture, to be known as CSSC Wärtsilä Electrical & Automation Co Ltd (CWE&A)
Singapore’s shipyards are looking to recent investments in capacity, design and newly acquired technology to combat order declines after a decades-long offshore buildup. Sembcorp and peer Keppel are making the most of partnerships in FLNG and showing signs they’ll be okay through the
Kongsberg, ThyssenKrupp Marine Systems GmbH(TKMS) and Atlas Elektronik enter into a comprehensive teaming agreement for submarines. The companies join resources and establish a joint venture company in Norway that will be the international strategic and exclusive supplier of combat
The newly built offshore construction vessel Island Venture features three SCHOTTEL Combi Drives of type SCD 710 (formerly SCD 3040) in the Rudderpropeller version with an input power of 3,300 kW each, giving the multifunctional vessel increased maneuverability for a wide range of applications.