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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


DryShips Completes Registered Direct Offering

Courtesy DryShips Inc.

DryShips Inc.announced that it has completed the previously announced registered direct offering of 100,000 newly designated Series E-1 and E-2 Convertible Preferred Shares and Warrants, in which the Company raised gross proceeds of approximately $100.0 million since commencing the offering, pursuant to the prospectus supplement filed on November 17, 2016. Following the completion of the offering, the Company has approximately 33,806,733 common shares outstanding


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.


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.  


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


Eighth Lamprell Rig for NDC

Courtesy Lamprell

Lamprell announces the completion of construction on a further jackup drilling rig, the “Al Hudairiyat”, and its delivery to Abu Dhabi’s National Drilling Company (“NDC”), within budget and as scheduled. Completion and delivery of the jackup rig was marked at an


Austal completes DDR for Pacific Patrol Boat Replacement Project

Austal’s Pacific Patrol Boat Replacement Project is on schedule, with Detailed Design Review completed on time and in accordance with the Construction of the 19 steel vessels is due to commence, on schedule Photo Austal

Austal has successfully completed the Detailed Design Review (DDR) for the A$306 million Pacific Patrol Boat Replacement (PPB-R) Project on time and in accordance with the contracted schedule. A key element of the Commonwealth’s continuous naval shipbuilding strategy


MOL, University of Tokyo Graduate School Team up on Project based learning

Graduate students meeting to discuss the project Photo MOL

Mitsui O.S.K. Lines, Ltd. today announced the completion, on Friday, February 10, of this year’s Project Based Learning (“PBL”) program at the University of Tokyo Graduate Program for Mechanical Systems Innovation (GMSI), Research and Education Consortium for Innovation of


MOL Learning Program on Environmental Regulations

Photos: Mitsui O.S.K. Lines, Ltd

 Mitsui O.S.K. Lines (MOL) has announced the completion of this year's Project Based Learning (PBL) program at the University of Tokyo Graduate Program for Mechanical Systems Innovation (GMSI), Research and Education Consortium for Innovation of Advanced Integrated Science (CIAiS) and Global


NIL Supplies GenSet for FDNY Fireboat

Photo: NIL

A marine power generation and climate control products manufacturer Northern Lights, Inc. (NLI) has  announced  completion of a 235kW Commercial Series generator set for the Fire Department of New York.   The unit – M235C13


Hill Dickinson to operate as single entity in Hong Kong

Damien Laracy Photo Hill Dickinson

International law firm Hill Dickinson has announced that its application to operate as a single entity in Hong Kong has been approved by the Law Society of Hong Kong following the completion of a three year period of association with a local Hong Kong firm, as required by local regulations.


SpeedCast Appoints Kagan as COO

Satellite communications and network service provider SpeedCast International Limited has announced the appointment of David Kagan to the position of Chief Operating Officer (COO) reporting to Chief Executive Officer Pierre-Jean Beylier.


VBMS Bags Anglia ONE OWF cabling Deal

Array cable installation photo VBMS

Royal Boskalis Westminster N.V. (Boskalis) announces that its subsidiary VBMS has been awarded a cabling contract with a value of approximately EUR 100 million by ScottishPower Renewables, for the East Anglia ONE offshore wind farm. The scope of work for VBMS consists of the supply


DryShips Completes $200mln Equity Investment

Pic: DryShips Inc

 DryShips has announced that it has successfully completed the previously announced $200.0 million common stock offering, in which the Company raised net proceeds of $198.0 million, pursuant to the Common Stock Purchase Agreement entered into by the Company on December 23, 2016.  


Tulsa (LCS 16) to be Christened

Courtesy Austal

Austal will host The Honorable Kathy Taylor, ship sponsor, for the christening of the Tulsa (LCS 16) at its Mobile, Ala. shipyard, Feb. 11. Taylor was Tulsa’s 38th Mayor and is currently Chief of Economic Development for Tulsa’s sitting Mayor, G.T. Bynum


Norwegian OSV Operators in Blockbuster Merger

File Image: A Farstad OSV (CREDIT: Farstad)

Debt-laden Farstad Shipping gets lifeline; billionaires Fredriksen and Roekke join forces.   Hit by the oil industry recession, Norwegian offshore service vessel (OSV) operators Farstad Shipping, Deep Sea Supply and Solstad Offshore announced plans to merge on Monday to counter the downturn


Hapag-Lloyd Successfully Places Additional Notes

Pic: Hapag-Lloyd

 Hapag-Lloyd AG has successfully placed Additional Notes and was able to upsize the volume from the originally announced EUR 150 million to EUR 200 million due to high demand.    The Additional Notes are issued under the indenture dated 1 February 2017 with a maturity of five


Cargo Ship to be Converted into a Dredger

DC Eems prior to conversion (Photo: Kooiman)

Group De Cloedt will have her dry cargo vessel DC Eems converted into a trailing suction hopper dredger.   Kooiman Marine Group in Zwijndrecht has received the order for this project. The DC Eems, currently under management with EemsWerken, (family Kornet) from Werkendam


Ship Design and Construction Matters

Photo: International Maritime Organization (IMO)

 ​The Sub-Committee on Ship Design and Construction (SDC) meets for its fourth session this week (13-17 February).    Key topics on the agenda include the expected finalization of draft explanatory notes to the SOLAS chapter II-1 subdivision and damage stability regulations and


Foss’ New Arctic Class Tug Is Nearly Complete

Photo: Foss Maritime

Foss Maritime said its third of three new Arctic Class tugs being built at the Rainier, Ore. shipyard is nearing completion and expected to enter service later this year.     The tug Nicole Foss is ice class D0, meaning the hulls are designed specifically for polar waters and are






 
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