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Announces Completion

Govan Yard Under The Gun

BAE Systems Plc warned that future employment prospects at its Govan shipyard near Glasgow are wholly dependent on new orders being won. The group was announcing completion of the $3.6 million rescue acquisition of Govan from Norway's Kvaerner agreed in July. BAE has agreed a 20 year lease of the land and buildings in a joint deal with port services group Clydeport Plc, which will own the site.


STELLA B1 Well Flow Test Completed

04 Stella North Drill Centre Manifold Installation Operations (149)

  Ithaca Energy Inc. announced completion of flow test operations on the third development well on the Stella field, with the well achieving a flow rate of 12,492 barrels of oil equivalent per day. Well 30/6a-B1Z (“B1”) is the third development well drilled on the Stella field.  The well was drilled to a total measured depth subsea of 16,185 feet, with a 2,147 foot gross horizontal reservoir section completed in the Palaeocene Andrew sandstone reservoir


Genco Shipping to Acquire Six Drybulk Vessels

Genco Shipping & Trading Limited announced that it has agreed to acquire six drybulk vessels with an average age of approximately 2 years from affiliates of Evalend Shipping Co. S.A. for an aggregate purchase price of approximately $336m. The acquisition is subject to the completion of customary additional documentation and closing conditions. Genco plans to finance the acquisition through borrowings under its $1.4b revolving credit facility.


Neptune Orient Lines Sells Logistics Business

Photo: APL Logistics

Neptune Orient Lines sells APL Logistics to Kintetsu World Express   Neptune Orient Lines Limited (NOL) announced that it has completed the sale of its logistics business, APL Logistics Ltd (APLL), to Kintetsu World Express, Inc. (KWE) for an aggregate purchase price of $1.2 billion, subject to adjustments for the net cash and net working capital of APLL and its subsidiaries as at the completion date.   NOL said it will announce the final purchase price after such adjustments


PortMiami Dredging Clears Way for Mega Ships

Dredger in PortMiami (Photo: Port Miami)

PortMiami Deep Dredge gives businesses the infrastructure necessary for growth The completion of the PortMiami deep dredge project, which deepens the port’s main harbor channel from 42 feet to a depth of 52 feet to accommodate Post-Panamax ships, was announced by Florida Governor Rick Scott. Of the total $220 million cost for the channel deepening, the state of Florida invested $112 million and Miami-Dade County invested $108 million


Entertainment Cruises Plans Cruise Boat Renovation

Spirit of New Jersey Schedules $1.5 Million Renovation for Completion in Spring 2012.   Entertainment Cruises, the largest harbor cruise company in the United States, today announced that plans are underway for a $1.5 million renovation of the Spirit of New Jersey, scheduled for completion in time for the spring/summer season. It will feature quality improvement initiatives aimed at modernizing the vessel and providing a fresh and trendy dining and entertainment experience.  


Canyon’s Quest ROV Awarded Drill Support Contracts

Canyon Offshore, Inc., has announced that it has been awarded drill support contracts on board the drilling rig Rowan Midland for its new electric Work Class ROV, Quest #3. In June, Canyon mobilized the new built Quest #3 on board the rig for Energy Resource Technologies, Inc. (ERT) to support ERT’s re-entry well work on East Cameron block 374. Upon completion of the ERT contract, Canyon will provide ROV services to Remington Oil & Gas at East Cameron 377 to support drilling and completion


Vitol Buys Stake in Sargeant Marine

  The Vitol Group and Sargeant Marine, an asphalt trading, storage and transportation business, announced that Vitol will acquire a 50 percent interest in Sargeant Marine for an undisclosed sum.   Sargeant Marine comprises a global trading operation, which distributes asphalt to customers worldwide, and two terminals in Rotterdam, Netherlands and Constantza, Romania.   On completion, it is anticipated that the new, combined business will trade circa 1


Aries Maritime Provides Update on the Bora

Aries Maritime Transport Limited announced that it expects to complete repairs to the Bora, a 2000-built double-hull products tanker, before the end of the second week of October 2006 at a total cost of approximately $1.3 million. Following the completion of repairs, Aries plans to initially employ the vessel in the spot market prior to securing a period charter. The Company's previous time charter arrangement with FR8


Golar LNG Sells Newbuild

Golar LNG announced an agreement to sell its existing interest in new building DSME hull number 2244 to Maran Gas for $92.5m, this represents an implicit vessel price of $201 million. Golar estimates that its book cost of investment in this vessel at completion of the sale will be approximately $51.5 million and this transaction therefore represents a significant return on investment for shareholders.


MN100: SeaSchool

Image: SeaSchool

The Company: Sea School prides itself on remaining ahead of the competition with over 36 years experience in dealing with Coast Guard Licensing, Regulations, and Maritime Education. The school employs U.S. Coast Guard approved instructors with extensive knowledge and experience in commercial


Two Maersk Jack-up Rigs in for Reapir

Photo courtesy of Semco Maritime

Semco Maritime has welcomed the recent arrival of two Maersk Drilling high specification jack-up rigs to its Invergordon shipyard facility. Maersk Reacher will be berthed in the Queens Dock facility for an undisclosed duration, carrying out necessary upgrades and modifications


Bahamas Corvette Gets a Lifetime Extension

Photo: Damen

The 60-meter Royal Bahamas Defense Force Corvette HMBS Nassau (P-61) has arrived at Damen Maaskant Shipyards Stellendam in the Netherlands for an extensive refit. The 17-year old vessel will receive a comprehensive overhaul that comprises full systems and instrumentation replacement.  


Trident to Acquire Callenberg

Trident Maritime Systems (Trident), a portfolio company of J.F. Lehman & Company (JFLCO), signed a definitive agreement to acquire Callenberg Technology Group (Callenberg) from Wilhelmsen Maritime Services AS. Callenberg designs, assembles, integrates, and supports HVAC


India to Establish New Multi Modal Terminal in Varanasi

Image: The official FB Page of Nitin Gadkari

 Indian Shipping Minister Nitin Gadkari has layed the foundation stone for a multi-modal terminal at Varanasi.   The phase-I of the multi-modal terminal will be built by AFCONS Infrastructure at an estimated cost of Rs.170 crore and is slated to completed by August 2018.  


Lease Sale Proposed for Wind Energy Off North Carolina

A new lease sale has been proposed for 122,405 acres for commercial wind energy leasing offshore North Carolina.     The proposed lease, announced today by U.S. Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper as part of


Fourth LNG-ready Product Tanker Delivered to Crowley

West Virginia (Photo: Crowley)

Crowley Maritime Corp. took delivery Friday of MT West Virginia, the fourth new Jones Act product tanker built for the company by Philly Shipyard, Inc. (PSI). Crowley will christen the West Virginia on Tuesday at a ceremony at Philly Shipyard.  


South Carolina is Getting Big-ship Ready

SCPA celebrated the arrival of two new super post-Panamax cranes in the Charleston Harbor on Friday. (Photo: SCPA)

The delivery of two super post-Panamax cranes at South Carolina Ports Authority (SCPA) on Friday marked another step in the port’s push for big ship readiness, to be followed in the coming years by the completion of the Wando Welch wharf project and harbor deepening to 52 feet. 


Singapore Exchange Looks to Buy Baltic Exchange

Singapore Exchange Ltd (SGX) said it planned to offer 77.6 million pounds ($103 million) to buy London's Baltic Exchange and was seeking support from Baltic's shareholders for the deal. In a statement on Thursday, SGX said it sought to acquire from Baltic shareholders their issued ordinary


MISC Reports Higher Profit Despite Revenue Loss

Yee Yang Chien, PRESIDENT & CEO, MISC BHD

* Group revenue for the quarter and the 6 months period ended 30 June 2016, were lower than the corresponding quarter and 6 months period ended 30 June 2015.   * Group profit before tax for the quarter and the 6 months period ended 30 June 2016


KR Opens Opens New BWMS Testing Facility

Logo

The Korean Register (KR) – an IACS member classification society – has announced that it has significantly expanded its land-based test facilities for Ballast Water Management System (BWMS) by opening a brand new specialist facility.


New Ship Lift for Casablanca Port

TTS Group ASA said it has secured a new contract for delivering a 10,000-ton ship lift to Casablanca Port in Morocco with an order value of approx. MNOK 135.    The contract is with Civils Contractor Somagec for its Casablanca Port development project.     


Transocean Ltd. to Acquire Transocean Partners LLC

Disoverer Enterprise Vertical Photo Transocean

Transocean Ltd. and Transocean Partners LLC (NYSE: RIGP) today announced that Transocean has agreed to acquire all of the outstanding common units of Transocean Partners not already owned by Transocean in a share-for-unit merger transaction. In the merger


MPI Adventure Installs first Offshore Wind turbine on Sandbank

Courtesy Vroon Group

Wind Turbine Installation Vessel MPI Adventure installed the first of 72 SWT-4.0-130 offshore wind turbines on the Sandbank offshore wind farm. MPI Adventure is capable of installing 6 of these complete offshore wind turbines per cycle. After MPI Adventure completed its contract to assist with


Ithaca’s FPF-1 platform to be moved to Stella field

FPF-1 floating production facility has completed the required inclination test Photo

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland. The vessel has been moved to a deep water location offshore Gdansk to undertake final marine system






 
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