New Standard Energy Limited (New Standard) advises that it has received approval for amendments to its five year work program in PEL570 in the Cooper Basin. As part of the revised program, New Standard now has seismic and drilling to commence in Year Two before the new deadline of March 2016, with only minor expenditure on geological studies in Year One required before then. New Standard requested a suspension of the work program for PEL570 acreage and a deferral of the planned seismic due to the uncertainty surrounding the ownership of the Company’s PEL570 joint venture partner, Ambassador Oil and Gas Limited (ASX: AQO, Ambassador), which is the subject of two competing takeover offers. New Standard has now received notification from the South Australian State regulator, the Department of State Development (DSD, formerly DMITRE) that the Company was successful in its application, resulting in: 1. suspension of all work commitments in its five year work program at PEL570 in the Cooper Basin for six months; and 2. deferral of the requirement to undertake a seismic program from Year One to Year Two of the work program, which moves the target completion date for New Standard’s PEL570 seismic survey back 18 months from September 2014 to March 2016. New Standard holds a 52.5 per cent operator position of PEL570, subject to completion of required exploration activities under a farm-in agreement with Ambassador.
Statoil, Chevron Canada and Repsol E&P Canada have been named the successful bidders for exploration rights on two land parcels in the Flemish Pass Basin, offshore Newfoundland and Labrador, Canada. This was the result of a land sale issued by the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB). The land parcels are located west of Statoil’s Mizzen discovery in the Flemish Pass Basin. Statoil will be the operator of both licences with a 50 % interest
SMM is increasingly becoming a platform for the upmarket segment of super yachts. This area is presented at the SMM at Hamburg Trade Fair by shipyards, and all relevant equipment suppliers exhibit at the leading shipbuilding fair. For the first time this year there will be a special exhibition focus on super yachts in Hall 8. Over 1,600 companies from 50 countries will present the latest developments in all areas of the maritime sector at 22nd Shipbuilding, Machinery & Marine Technology
The Port of Cape Town is experiencing pressure on its ship-servicing and marine-surveyor services due to insufficient capacity, says Arthur James, head of maritime law at law firm Webber Wentzel Bowens, according to a report on www.businessday.co.za. James has warned that if nothing is done, the city’s port might soon lose lucrative business to other ports such as Walvis Bay, Luanda and Maputo, costing jobs and economic growth.
Burger Boat Company announced that Asia-Pacific Boating and China Boating magazines have nominated Tò-Kalòn, a 101 ft Burger Enclosed Bridge Motor Yacht, for “Most Innovative Exterior Yacht Design of the Year” and INGOT, a 153 ft Burger Tri-Deck Motor Yacht, for “Best Motor Yacht” (86 feet and up) for the 2009 Asia Boating Awards. The Annual Asia Boating Award was created by Asia-Pacific Boating and China Boating magazines to recognize the best of the
During the period of reclamation of Ayer Chawan Basin, Jurong Island, Singapore –which has now been extended and will be conducted from 15 June to 14 December –bulk carriers, self-propelled barges and pusher tugs with barges in composite unit carrying bulk sand will transit the Banyan Basin, Sinki Fairway, Temasek Fairway and West Jurong Channel to Ayer Chawan Basin reclamation project area. Masters of vessels and harbour craft shall keep a proper lookout for these vessels
By Larry Pearson Palmer Johnson, luxury yacht builder, has a new president and is introducing a new line of sport yachts. Mike Kelsey, Jr. was elected president of the Sturgeon Bay, Wisc. yacht builder in June 2004. Kelsey's grandfather, Patrick Haggerty, founder of Texas Instruments, purchased the yard in 1961. Kelsey's father Mike Kelsey, Sr. immediately went to work for Haggerty and passed the knowledge of fine yacht building down to his son.
International classification society Bureau Veritas has opened a Yacht Technical Office in . It provides a center of expertise for all issues relating to the construction, classification and statutory certification of mega yachts. Maxime Pachot, manager of the Yacht Technical Office, says, "The technical issues which face yacht designers, builders and owners are getting more and more specialized. Mega yachts are often at the cutting edge of design, materials use and equipment
Bradford Marine, Inc. announced that James (Jimmy) Floyd has joined the Bradford Marine Team as Sales and Marketing Professional. Floyd has an extensive knowledge of the yachting industry. He started his yachting career many years ago as Dockmaster at Bradford Marine, and since 1981, he has been involved in the yachting industry through Smallwood's, a well-known family business. Bradford Marine is one of the world’s largest undercover yacht repair facilities
DNV MED-B certification opens yacht market for Navis AP4000 autopilot. Helsinki-based Navis Engineering Oy has passed an important milestone in the yacht sector, after receiving MED-B type approval for its latest generation type AP4000 autopilot from classification society Det Norske Veritas (DNV). Issued for a five-year period, the MED-B certificate provides assurance that the product complies with all the relevant international standards imposed on marine equipment of this type
Maersk Oil, a unit of Danish conglomerate A.P. Moller-Maersk, has agreed to sell stakes in three North Sea fields to RockRose Energy, the latest new entrant into the ageing basin. RockRose suspended trading on Wednesday before announcing it has agreed non-binding headline terms and a
U.S. drillers this week added oil rigs for an 11th week in the past 12, according to a closely followed report on Friday, although the rate of increases has slowed as crude prices remain below the key $50 a barrel level that spurs a return to the well pad.
A new ferry service has opened in Florida, a St. Petersburg/Tampa ferry service, and organizers project that this is just the start as they "test the waters" for the new service dubbed The Cross-Bay Ferry. “Everywhere I go, people ask me about the ferry,” said St
With anticipation high for a St. Petersburg/Tampa ferry service, organizers of the project today announced an exciting set of launch events, including a series of runs for supporters to “Test the Waters,” plus a striking new logo and a formal name: The Cross-Bay Ferry.
DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will see the start of a barren period for the offshore OFS and OFE sectors.
MV WERFTEN signed a letter of intent with the engineering company Foreship in Stralsund today. The agreement includes parts of the basic design as well as design, purchasing and production assistance of the “Endeavor” class luxury expedition yachts
Several years ago, the main market for Suezmax tankers was the West Africa to North America trade. When this market dried up in the period from 2012 to 2014/15, it looked like the Suezmax fleet was in for hard times. Tanker Research & Consulting department at Poten & Partners takes a
British luxury motor yacht manufacturer, Fairline Yachts, announces Robert Hammond as its new International Sales Manager. Robert will be responsible for Fairline's global sales operations and managing its worldwide dealer network. A former military pilot, Robert
Large U.S. shale oil companies, flush with cash raised through stock offerings, are gobbling up properties in the Permian Basin straddling Texas and New Mexico, a trend that could boost U.S. oil output in the second half of 2017. Hess Corp and Devon Energy Corp are among oil and gas
The Company: Gibbs & Cox and Donald L. Blount and Associates (G&C/DLBA) comprise one of the world’s leading independent naval architecture and marine engineering design firms. The company employs naval architects, engineers and designers from all of the ship-related engineering
The Company: ZF Marine supplies propulsion system components for yachts, defense craft, high-speed ferries, workboats and commercial vessels, in a power range from 10 to 14,000 kW. The product portfolio includes a comprehensive range of transmissions (reversing, non-reversing and hybrid)
Sparkman & Stephens (S&S), the naval architecture and brokerage firm founded by Olin Stephens and Drake Sparkman in 1929, announced that it was acquired by a group of private investors led by Brooke S. Parish and John B. Reuter. The transaction enables S&S to implement expansion
Jan De Nul NV is part of a consortium that is responsible for the expansion of the port of Kingston. In 25 months the access channel and the port basin will be deepened, and the berths on the existing quay walls will be reinforced and renovated
The first of two SIGMA 10514 PKR naval frigates for the Indonesian Navy has successfully completed its sea trials as of September 7, marking a milestone on a project for which the first steel was cut in January 2014. The assessment phase began with seven days of basin trials to ensure
India’s biggest shipbuilder under state control, Cochin Shipyard Ltd (CSL) is looking to file documents for its initial public offering (IPO) with the markets regulator by the end of this month, reports Live Mint. According to sources