Buy Two News

The United States commissioned a warship in Sydney, Australia, on Saturday, the first time a U.S. Navy vessel joined active service at a foreign port, as the two close allies step up their military ties in response to China's expanding regional reach.The Independence-class littoral combat ship USS Canberra (LCS-30)—named after a Royal Australian Navy cruiser that was sunk while supporting the U.S. Marine landings on Guadalcanal in 1942—was commissioned at a ceremony at an Australian naval base on Sydney Harbour, officially joining the U.S.

Robert Schluter served as an officer as part of the marine engineering team on board the U.S. Navy guided missile destroyer USS Mahan DDG-42 out of Charleston before transitioning to the business world and “general, corporate type work”. Today he serves as managing director at the third startup he’s helped build, e1 Marine.The company, a joint venture between Louisiana-based marine equipment lessor Maritime Partners, Irish tanker owner Ardmore Shipping and Schluter’s second startup…

Billionaire John Fredriksen-owned offshore drilling company Northern Drilling said Tuesday it had canceled a drillship resale contract with the South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).In May 2018, Northern Drilling signed agreements with DSME to buy two newbuilding 7th generation DP3 and ultra-deepwater capable drillships DSME known as the West Aquila and the West Libra, for $296 million each with $90 million paid at contract signing and the remainder at delivery. However, Northern Ocean said  Tuesday it had canceled the contract for the West Aquila drillship due to delay of delivery as well as a repudiatory breach of contract.Northern Drilling…

Norwegian offshore vessel owner DDW Offshore, a subsidiary of Akastor, has entered into bareboat charter and future sale agreements for two of its AHTS vessels with the Brazilian subsea services company OceanPact.Under the charter, DDW Offshore - formerly known as DOF Deepwater,  will supply two AHTS vessels Skandi Saigon and Skandi Pacific for a period of 26 months. As part of the agreements, Akarstor said that a forward sale of the vessels has also been agreed. Under this deal, OceanPact will buy the vessels at the end of the charter period.

Seaspan has agreed to buy two containerships on long-term charter for around $146 million in cash, with delivery expected in the third quarter of 2020.The company, a subsidiary of Atlas, said Thursday that the transaction was expected to be "immediately accretive to Atlas' earnings per diluted share and increase long-term contracted revenue by over $150 million while maintaining a strong net debt to equity ratio of approximately 1.2x1."Seaspan said that the two 13,000 TEU containerships built in 2010 and 2011 were of high-quality.

Peruvian state-run oil company Petroperu has launched a tender to sell a 450,000-500,000 barrel cargo of Loreto heavy crude for delivery April 15-30 at Boyovar port, according to a document seen by Reuters on Monday.   * Bids will be accepted through March 1, indexed to Brent crude front month prices   * Sellers of the cargo also include Peru's Perupetro and Canada-based Pacific Stratus Energy   * Petroperu earlier this month offered to buy two cargoes of a Latin American, U.S. or West African crude for April delivery (Reuters; Reporting by Marianna Parraga Editing by Chizu Nomiyama)

Wisdom Marine Lines Co Ltd says its board agrees to buy two bulk carriers from Imabari Shipbuilding for up to $49 million.   Reuters / Beijing Headline News

DP World said on Monday that it had entered into a deal to buy two other Dubai state-owned maritime companies for a total of $405 million.   The Dubai-based ports operator will acquire Maritime World, the 100 percent owner of Dubai Maritime City, for a purchase consideration of $180 million, and 100 percent of Drydocks World by means of a capital injection of $225 million.   Both deals are expected to close before the end of the first quarter of 2018, it said. Reporting By Tom Arnold

Norway plans to sign a deal to buy four submarines from ThyssenKrupp in 2019, Norwegian defence minister Marie Eriksen Soreide said on Tuesday during a visit with her German counterpart to a German marine base.   German media has reported the four submarines will cost 4.3 billion euros ($5.06 billion).   The purchase of the ships is part of a cooperation agreement between the two countries, under which Germany's armed forces will buy two identical submarines from Germany's ThyssenKrupp and missiles from Norway's Kongsberg. "We want to sign the deal in 2019 and get the first submarines in the mid-2020s," Eriksen Soreide said. Reporting By Sabine Siebold

Swedbank’s chief economist, Harald Andreassen, isn’t “too hopeful” about the long-term prospects for the oil price, but then again, “I’m less certain of this than I’ve ever been as an economist,” he told a floating production conference in Oslo. After two-and-half years of oil-price collapse followed by layoffs in the thousands; stacked oil rigs and order freezes for offshore shipping, price insecurity itself is a partial expression of confidence. Beneath some palpable yet halting movements toward recovery in 2017…

Asian spot LNG prices jumped this week, buoyed by hopes Korea Gas Corp's new tender would match past buying sprees and by emerging demand from China and Japan. Spot prices for June delivery rose to $5.70 per million British thermal units (mmBtu), a 20 cent jump over last week, but traders cited sharply divergent views on pricing, saying the disagreements contributed to market inertia. Still, Korea Gas Corp's Thursday tender for June and July supply - set to close on April 26 - immediately stirred up bullish offers, rescuing an otherwise muted trading week.

Asian spot liquefied natural gas (LNG) prices rose this week on the back of rallying gas benchmarks in Europe and a production outage in Angola. The price of LNG for December delivery was $7.20 per million British thermal units (mmBtu), up around 25 cents from a week earlier, buoyed by gains in British month-ahead gas prices. UK December gas rose as much as 10 percent this week. Further LNG spot gains may be capped as prices close the gap with long-term, oil-indexed LNG contract levels and with new supply emerging from U.S. and Australian liquefaction projects, analysts and trade sources say. LNG importers arbitrage between buying shipments on spot markets or through their long-term contracts which tend to act as a ceiling on spot prices.

Indian Oil Corporation has launched a tender seeking to buy two liquefied natural gas (LNG) cargoes for December delivery which is due to close on Oct. 25, trade sources said.   IOC is to take receipt of the volumes on Dec. 6 and Dec. 21. (Reporting by Oleg Vukmanovic; editing by Susan Thomas)

The Phnom Penh Post reported that Cambodia was in negotiations to buy two 140-metre heavy warships armed with modern weapon systems from China, citing the commander of the Royal Cambodian Navy. According to a speech given by Royal Cambodian Navy Commander Vice Admiral Tea Vinh at a meeting with China’s Rear Admiral Yu Manjiang Cambodia is considering purchasing two Chinese warships. The plan, however, has yet to be approved by the government. “The Royal Cambodian Navy needs two warships but communication is in process between the two defence ministries,” Tea Vinh said. “We will not use them for war – we will only use them to protect our territorial sovereignty. Vinh also reminded Manjiang that Cambodia stayed on China’s side in the South China Sea dispute.

U.S. Deputy Defense Secretary Robert Work said the Pentagon's plan to truncate the Littoral Combat Ship program at 40 ships instead of 52 reflected budget pressures and was "not an indictment" of the program. Lockheed Martin Corp and Australia's Austal each build different models of the smaller, fast coastal warships. Carter said he wants the Navy to have a competition and pick just one supplier for future ships. Work said the Pentagon decided to buy two of the ships in fiscal 2017, instead of scaling orders back to just one ship as Defense Secretary Ash Carter had ordered in a memo late last year, at the Navy's request. He said the move was meant to help ensure a smooth transition to a future competition by keeping both shipbuilders working for another year.

BAE Systems announced it has signed a contract with Bangkok Dock to assist in the licensed construction of a second 90-meter Offshore Patrol Vessel for the Royal Thai Navy. Under the agreement, BAE Systems will provide engineering support and advice during construction of the vessel in Thailand. Nigel Stewart, Commercial Director, BAE Systems’ Naval Ships business, said, “We’re looking forward to building and strengthening our relationship with Thailand’s shipbuilding industry.

With three species of migrating cod to fish and new commercial species arriving as oceans warm, Norway is a fisheries Valhalla. Yet, recent boat sales suggest the Scandinavian country’s role is changing. Vessel orders and rules in Norway are propping up yards and designers on Europe’s fringes. Medium-sized hull orders for Romanian, Russian and Turkish boat builders are new, while large vessel orders for Denmark or Spain continue apace. Unconventional Icelandic designs, too, are gaining ground here as catches and profits soar.

Singapore looks to pull ahead in the race to become Asia’s main gas hub by establishing a domestic gas trading market. Rising liquefied natural gas (LNG)  supply and demand within Asia has prompted Singapore to to become a centre for energy trading. Singapore, already a global oil trading hub, is aiming to take advantage  from increasing numbers of buyers especially in China, but also India and other parts of Asia. Announcing the decicion, Singapore’s trade and industry minister S Iswaran said creating a domestic gas market would “allow domestic gas price discovery that reflects Singapore’s demand and supply conditions”. Forecasts suggest that Asia will buy two-thirds of the world’s LNG this year.

Sweden is to buy two new submarines from constructors Saab Kockums. The A26 subs are to be delivered by 2022 and will cost up to SEK 8.2 billion ($945 million). "This is the biggest single decision when it comes to economic investments that we will make during this parliament. The decision, to be formally made by the cabinet on Thursday, is to ensure Swedish submarine capability past 2030", stated Defence Minister Peter Hultqvist. "These are the next generation of submarine. These submarines will be very hi-tech", he added. The government will on Thursday authorize the armed forces to order two submarines, defense ministry spokeswoman Marinette Nyh Radebo said.

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs). Delivery from the South Korean shipyard is scheduled for between the fourth quarter 2016 and first quarter 2017, and there is an option included for two additional vessels. NOCC’s strategy is to grow its business as a tonnage provider serving the global car carrier operators, says a company statement. The company currently has 10 car carriers in its fleet ranging between 4,000-7,000 ceu. The specification for the 6 500 car capacity PCTC is based on the Hyundai built NOCC Oceanic with improvements and upgrades.

Asian liquefied natural gas (LNG) spot prices for August delivery were firm on Friday, underpinned by steady demand from the Middle East and the potential for stronger European demand after production cuts at the region's largest gas field. The price of Asian spot cargoes remained $7.30 per million British thermal units (mmBtu), in line with the previous week. The Dutch government this week ordered a further tightening of gas production at Europe's Groningen field in response to a spate of earthquakes. Analysts said that the cut would lead to more imports, pushing Europe's benchmark UK gas hub (NBP) prices higher for the second half of the year, potentially narrowing Asia's LNG price premium to Europe and creating more competition between the LNG destinations.

About 10 countries, including Egypt, are interested in buying two French helicopter carriers whose planned sale to Russia has been cancelled due to the Ukraine crisis, a source familiar with the situation said. A second source, a French diplomatic source, said that other countries interested include Brazil, Singapore, Saudi Arabia and Canada, which could be the most suitable candidate for the ships because they were designed for cold waters. France, whose navy already operates three of the Mistral helicopter carrier warships, has no use for the two ships and will have to pay Russia nearly 1.2 billion euros ($1.3 billion) for cancelling the contract. The first source also said that Egypt is negotiating the possible exercise of its option to buy two Gowind corvettes.

The Philippines aims to buy two frigates, two helicopters and three gunboats for deployment in the South China Sea where a territorial dispute with China has lent urgency to the need to bolster forces, a Philippine navy officer said on Wednesday. China claims nearly the entire South China Sea, rejecting claims to parts of it by the Philippines, Brunei, Malaysia, Vietnam and Taiwan. The confrontation between the Philippines and China has been particularly tense since June 2012 when China seized a rocky outcrop known as the Scarborough Shoal which is believed to be rich in oil and natural gas as well as fisheries resources. "The events in the West Philippine Sea actually gave some urgency on the acquisition…