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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.


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


Hercules Offshore Announces Rig Contracts

Hercules Offshore, Inc. said that Oil and Natural Gas Corporation Limited (ONGC) has awarded three-year contracts for the Hercules 258 and Hercules 260 jackup rigs for drilling operations offshore India. The contract for the Hercules 258 is expected to commence in mid-second quarter 2008 following the completion of an existing contract commitment offshore India. The contract for the Hercules 260 is expected to commence in late first quarter 2008 following the completion of shipyard work on the


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


NGSS Completes Acceptance Trials on USS Ronald Reagan

Northrop Grumman Corporation announced that the nation's newest and most advanced nuclear-powered aircraft carrier, Ronald Reagan (CVN 76), has successfully completed acceptance sea trials. The Reagan is the ninth Nimitz-class carrier built by Northrop Grumman's Newport News sector. The acceptance trials are conducted with representatives of the U.S. Navy Board of Inspection and Survey for testing and evaluation of the ship's systems and performance.


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.


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.  


NewLead Holdings Announces Commercial Competency of MT Sofia

MT Sofia Photo Newlead

   NewLead Holdings Ltd.announced today a review of the commercial competency of one of its bitumen tanker vessels, the MT Sofia since the vessel was delivered to NewLead's fleet. The Sofia is a 2008-built bitumen tanker vessel of 2


Diana Containerships Sells Panamax Ship

Diana Containerships Inc. sells Panamax containership, the m/v Cap Domingo   Diana Containerships Inc. today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2001-built vessel m/v Cap Domingo


Rolls-Royce Power Package for USS Zumwalt

Photo courtesy of Rolls-Royce

Rolls-Royce announced delivery of the twin fixed pitch propellers to Bath Iron Works for installation on the U.S. Navy’s most modern surface combatant, the future USS Zumwalt, the first ship of the DDG 1000 multi-mission destroyer class.


Redesigned LaGuardia Airport to Include Ferry Terminal

Rendering shows plans for LaGuardias new Marine Air Terminal site (Image: Governor Cuomo’s office)

The Port Authority of New York and New Jersey and Delta Air Lines are set to overhaul New York’s notoriously outdated and publically criticized LaGuardia Airport, replacing four separate terminals with a single, connected one that will include a ferry terminal.  


Ensco CFO Jay Swent to Retire

Jay Swent (Photo: Ensco)

Ensco plc announced that EVP & CFO Jay Swent will retire after more than 11 years of service.   Swent will continue to serve in his current role until the succession process has been completed and a new CFO has been named. The completion of the succession process may extend into the


Nakilat H1 Profit Up 10 pct

Photo: Qatar Gas Transport Co Ltd (Nakilat)

 Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, has registered a half yearly net profit of $135 million (QR490.2mn), up 10% on the same period last year.   The healthy financial results reflect “Nakilat’s strategic development


Ensco CFO Jay Swent to Retire

Jay W. Swent IIIExecutive Vice President and Chief Financial Officer

  Ensco plc announced today that EVP & CFO Jay Swent, 64, will be retiring after more than 11 years of service. Mr. Swent will continue to serve in his current role until the succession process has been completed and a new CFO has been named


SBM Offshore Divests Stake in Turritella Project

FPSO Turritella (Image: SBM Offshore)

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


New Courses Offer Online Electrical Safety Training

AVO Training announces nine-module online training course series “Arc Flash Electrical Safety” with NFPA 2015; now available for purchase   AVO Training Institute released its new complete nine-module online course series entitled “Arc Flash Electrical Safety”


Egypt Completes New Waterway in Suez Canal

Image: Panama Canal Authority.

 Egypt has completed dredging for the new shipping route in the Suez Canal, says the government sources. The mega national project ‘New Suez Canal’ is scheduled to be inaugurated on August 6.   Egypt has invited all countries worldwide to take part in the inauguration


Captain Issued RMI’s First Unlimited Yacht License

Captain Jeff Perlstein, Faculty Coordinator, MPT; Amy Morley-Beavers, Academic Principal and Vice President of Regulatory Compliance, MPT; Captain Roberto Beretta; Captain Scott Field, Simulation Training Manager, MPT; and Captain John Hafner, Vice President, Seafarers’ Manning & Training, IRI.  (Photo: MPT)

Captain Roberto Beretta the first in the world to be issued this specific and highly-esteemed Master (Yachts) - Unlimited license by the Republic of the Marshall Islands Maritime Administrator   Private maritime training school Maritime Professional Training (MPT) announced it recently


Bosphorus Strait Reopens After Grounding

The Bosphorus Strait in Turkey reopened at 3:40 p.m. local time on July 21 following the grounding of general cargo ship Majed & Randy due to mechanical failure, Inchcape Shipping Services (ISS) advised.   ISS also advised that the Bosphorus Strait will be closed again in both


1,500 to be Laid Off from Newport News Shipbuilding

Image: Newport News Shipbuilding (NNS)

 Layoffs at Newport News Shipbuilding could top 1,500 from now through 2016 as the company copes with a temporary drop in work, the company president told employees this week.   In a letter to the workforce, President Matt Mulherin said layoffs will exceed 500 people this year


NMDC Completes New Suez Canal

Egyptian President Attends NMDC’s Presentation. Photo credit: National Marine Dredging Company

 National Marine Dredging Company (NMDC), the UAE's leading dredging and marine construction company, has announced the completion of the New Suez Canal project following its successful trial run on Saturday (July 25).    A total of six container ships from around the world


SBM Offshore Completes $1.55 bln FPSO Financing

SBM Offshore announced it has today completed the project financing of FPSO Cidade de Saquarema for a total of $1.55 billion, marking the largest project financing in the company's history.    Project financing was secured by a consortium of 16 international banks with insurance cover






 
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