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.
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 & 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 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
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.
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
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 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.
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
Atwood Oceanics, Inc., (NYSE:ATW) a Houston-based international drilling contractor, announced that the Richmond has been awarded a contract by Applied Drilling Technology, Inc. to drill one well in the U.S. Gulf of Mexico at a dayrate of $52,500. This well (estimated to take 40 days to complete) will be drilled immediately following the completion of the rig's current contract which is expected to terminate in late April 2009 or early May 2009.
Austal’s U.S. operation consists of more than 4,000 employees supporting the design, construction and sustainment of two U.S. Navy programs, the 127-meter, trimaran Independence-variant Littoral Combat Ship (LCS) and the 103-meter, catamaran high-speed troop and equipment transport known as
ASL Shipyard Pte Ltd. a wholly-owned subsidiary of ASL Marine Holdings Ltd., has secured new shipbuilding contracts worth approximately S$140 million for the construction of a series of tugs and barges, the company’s board of directors announced Thursday.
MODEC, Inc. announced today that its FPSO Cidade de Itaguai MV26, operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil, has achieved First Oil production on July 31, 2015, five months ahead of the schedule anticipated under the contract.
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG). It was completed 32 days ahead of schedule, on budget and with a perfect safety record
The U.S. Navy’s research vessel Neil Armstrong (AGOR-27), scheduled for completion this year, is equipped with a modern array of oceanographic research equipment. To handle this equipment, Allied Marine Crane, a division of Allied Systems, Co
The Panama Canal Authority (ACP) expressed its satisfaction after the main contractor for the Third Set of Locks Project, Grupo Unidos por el Canal (GUPC), and the National Union of Workers of Construction and Similar Industries (SUNTRACS) reached an agreement which supersedes the strike
BMT Nigel Gee (BMT), a subsidiary of BMT Group Ltd, and an independent naval architecture and marine engineering design consultancy, is celebrating its latest achievement in securing its 1,000th project which will involve the delivery of detailed production engineering for a ferry machinery
ACO Marine announced it has signed a contract to supply a bespoke version of its new Clarimar MF wastewater treatment plant to the CFT 623 wellhead platform under construction for Dubai’s Dragon Oil. The specially adapted Clarimar MF-2 has capacity to treat 3
The Suez Canal Authority has announced that following the completion of the latest development phase, the rules of navigation edition August 2015 are in effect since 13 August. Booked transits may be cancelled or altered by notice to the Suez Canal Authority offices at least 12 hours
A company of the Rosneft Group and a subsidiary of Trican Well Service Ltd. signed a framework agreement and ancillary documents, pursuant to which a Rosneft subsidiary agreed to acquire a 100% shareholding in Trican Well Service LLC
MISC Berhad and its wholly-owned subsidiary MTTI Sdn. Bhd. have today entered into an agreement with VIP Terminals Finance B.V. to dispose 50 percent of the issued share capital of VTTI B.V., for a cash consideration of $830 million, subject to completion of the conditions precedent
New York State Senator Jeff Klein (D-Bronx/Westchester) will address and preside over SUNY Maritime College’s Indoctrination (INDOC) graduation on Saturday, August 22, the college announced today. Senator Klein will address new students, their parents, family members
MISC Berhad informed that its wholly-owned subsidiary MTTI Sdn. Bhd.have entered into an agreement with VIP Terminals Finance B.V. to dispose 50 percent of the issued share capital of VTTI B.V. for a cash consideration of $830 million, subject to completion of the conditions precedent
Seanergy Maritime Holdings Corp. announced today that it has entered into a purchase agreement to acquire seven secondhand dry bulk vessels, consisting of five Capesize and two Supramax vessels, for a gross purchase price of approximately $183 million.
APM Terminals Pipavav (Gujarat Pipavav Port Ltd) and NYK Auto Logistics (India) today announced the commencement of RORO operations at Pipavav Port. Ford Motors India Pvt Ltd dispatched the first lot of its new Ford FIGO built in its Sanand plant in Gujarat for exports.