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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.


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


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


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.  


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


Contract to Drill Well in GOM

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.


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.


Dutch Yards May Need to Rethink Contract Structures

Rotterdam-based law firm AKD said a recent decision of the Dutch courts means that shipyards in The Netherlands may no longer be able to rely on the right to retain a vessel while awaiting payment for work done. As a result of this unexpected decision


Rawicz-12 Well Spuds

Oisin Fanning, Chairman of San Leon

  San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, announces the spud of the Rawicz-12 appraisal well yesterday on the 742 km2 Rawicz Concession in Poland’s southern Permian Basin.


Rosneft Completes Geological Survey

Rosneft completes offshore geological survey program for 2014

  Rosneft reports on 100% completion of the geological survey program on Company's offshore license areas for 2014. In the current year geological survey covered 24 license areas with the scope considerably exceeding license obligations


SC Ports’ Container Volumes Up 17%

Photo: South Carolina Ports Authority

The South Carolina Ports Authority (SCPA) announced today that October volumes were up nearly 17 percent year over year, continuing a growth trend in container traffic well above the organization's financial plan. SCPA handled 164,672 twenty-foot equivalent units (TEUs) in October, up from 141


Stolt-Nielsen Buys One Million of Its Common Shares

Stolt-Nielsen Limited announced today that on November 18, 2014, it agreed to purchase one million of its common shares through a private tender of shares at a price of NOK 110 per share. The shares are purchased in accordance with the buyback program announced on November 18, 2014.


HII Announces Pricing of 5% Senior Notes Due 2021

Photo courtesy of Huntington Ingalls Industries

Huntington Ingalls Industries, Inc. (HII) announced today that it will sell $600 million aggregate principal amount of 5% senior notes due 2021 at a price of 100% of the par value. The company said it intends to use the net proceeds from the sale of the notes to pay the consideration for the


51% Stakes of Keppel Merlimau Cogen Sold for $510 mi

Keppel Merlimau Cogen

Keppel Infrastructure Holdings Pte Ltd (KI), through its wholly-owned subsidiary, has agreed to sell 51% stake of Keppel Merlimau Cogen Pte Ltd (KMC), which owns Keppel Merlimau Cogen Plant to Keppel Infrastructure Trust (KIT or the Trust) for a cash consideration of $510 million (KMC Transaction)


Hybrid Ferry Completes Three-month Trial

Hybrid Ferry MF Finnøy

Corvus Energy announced the completion of the three-month trial of the hybrid ferry MF Finnøy.  The refit vessel used a 960V, 260kWh Energy Storage System (ESS) consisting of 40 Corvus Energy AT6500 advanced lithium polymer batteries


Petrobras Clarification on Bribe Payment Allegation

Courtesy Petrobras

With regards news reports involving SBM Offshore, Petrobras wishes to clarify the following: The company established an Internal Investigation Commission on February 13, 2014, the same day it became aware of the news about the alleged payment of bribes by SBM to Petrobras employees


Essar Ports Q2 FY15 Net Profit Up

Essar Ports develops and operates ports and terminals and is one of the largest private sector port companies in India

  Essar Ports Ltd. (Essar Ports), part of the Essar, today announced its unaudited results for the quarter ended September 2014. Highlights of Consolidated Results: *Revenue for the quarter increased by 1% at Rs. 435.3 crore as against Rs. 431


Foster Wheeler To Delist From NASDAQ

  Foster Wheeler AG announced today that it intends to voluntarily delist the registered shares of the Company, par value CHF 3 per share, from the NASDAQ Global Select Market (“NASDAQ”) and, provided that the requirements for deregistration are met, in due course


Rolls-Royce Releases Interim Management Statement

Logo

  As announced on 5 November, Rolls-Royce has accelerated its cost reduction efforts and outlined additional restructuring charges that will reduce the expected underlying profit in 2014 and 2015 by around £60m in both years, subject to employee consultation


Seaspan's Vancouver Shipyard’s Modernization Complete

Vancouver Shipyard

  Today, Seaspan’s Vancouver Shipyards officially celebrated the completion of its two-year, $170M Shipyard Modernization Project ahead of schedule and under-budget. Funded entirely by Seaspan, this project has transformed Vancouver Shipyards into the most modern facility in North


Foundation Stone for Adani Ennore Container Terminal laid

Nitin Gadkari (l) laid the foundation stone

  Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, today announced that Minister for Transport and Rural Development, Mr. Foundation Stone for Adani Ennore Container Terminal laidor its container terminal at Ennore port


Bear Head LNG Plans Initial Phase of 8 MTPA

Aerial View of the Bear Head LNG Project Site, Nova Scotia, Canada

Liquefied Natural Gas Limited informed that on 31st October 2014, its wholly owned company Bear Head LNG Corporation, filed for modifications to the existing construction and environmental permits granted by the Nova Scotia Utility and Review Board and Nova Scotia Environment.






 
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