Marine link
 

Company Pay

Maersk Drilling Mulls Leviathan Contracts

Picture by Maersk Drilling

Jonas Bjork, commercial manager Maersk Drilling Denmark, a subsidiary of Maersk Group, says that Israel is in his radar in the near future and hinted that his company targets Leviathan contracts, reports Globes.  Bjork added that the Israeli government may make things difficult, but it is also willing to listen and to learn. His impression is that the regulation in Israel in the natural gas sector is difficult, but the government is prepared to study the energy field, is open to change, and is flexible.   According to Bjork, he came to Israel to investigate whether there is a market for drilling here. He knows that the Leviathan reservoir will need rigs for both drilling and production of gas and oil, he pointed out.   The expectation is that 8 wells will be drilled at Leviathan. The drilling alone will take a year, and the entire contract will be for 2-3 years, because there are other things to do beyond the drilling activity. Developing Leviathan, for example, includes the construction of a floating facility to produce and store the condensed gas at sea. Establishing such a facility take much longer than the drilling itself.   He says Maersk Drilling is a contractor of sorts. Maersk carries out the actual drilling, and the gas company pays it a daily rate, regardless of whether or not gas or oil is found


Igor Sechin discusses Rosneft with Putin

President of the Russian Federation Vladimir Putin (Pic by Russian Federation)

  The President of the Russian Federation Vladimir Putin held a working meeting on Wednesday with the Head of Rosneft Igor Sechin, who reported on the Company’s 2014 operational results to the President of the country. The overall hydrocarbons production at year-end was approximately 252 mln toe, which is amounts to a 4.6% organic growth compared to 2013 levels. Daily production level exceeds 5 mln boe, which is by one third higher than ExxonMobil’s level


Australian Tugboat Crewing Dispute Escalates

Australian towage operators threatened by foreign competition were at standstill with the Maritime Union of Australia (MUA) last Tuesday as a dispute over tug boat manning levels escalated. "Increasingly we are seeing overseas towage companies tendering for towage contracts in our ports," said Adsteam Marine Ltd. CEO Clay Frederick, noting that comparable offshore ports operated with mostly three man crews. "I don't think our customers are going to cop the fact that we are there with four men


Nakilat Seeks $2.5b for Tankers

Qatar Gas Transportation (Nakilat) is considering tapping the Islamic finance market as part of plans to raise $2.5b early next year to pay for tankers, Reuters said. The company has ordered 54 tankers to cope with growing global demand for its gas. Nakilat considered borrowing in accordance Islamic law when it raised $4.3 billion in December but decided instead to use a mix of conventional bonds, loans and export credits.


Aker Solutions Reports 4Q 2011 Results

AkerSolutions_Logo_RGB.jpg

Aker Solutions ASA: Fourth quarter and preliminary annual results 2011. Aker Solutions reported an 18 percent increase in revenues and a solid operating result in the fourth quarter of 2011, reflecting strong market conditions and high activity in the oil and gas industry.   Revenues in the fourth quarter of 2011 amounted to NOK 11 600 million, compared with NOK 9 794 million in the same period one year ago


Aker Solutions Report Solid, Not Spectacular Financial Progress

Aker Solutions ASA release fourth quarter and preliminary annual results 2012. Aker Solutions reported revenues of NOK 12.0 billion and earnings before interest, tax, depreciation and amortisation of NOK 1.2 billion in the fourth quarter of 2012. Based on the preliminary annual results, which show revenues of NOK 44.9 billion and EBITDA of NOK 4.7 billion, the Board of Directors proposes to pay a dividend of NOK 4.00 per share.


Royal Caribbean Cruises Implements Fuel Supplement

In an effort to deal with the sharp increase in fuel prices, Royal Caribbean Cruises Ltd. announced the implementation of a fuel supplement of $5 per guest per day for sailings that depart on or after February 1, 2008. The company has taken measures to soften the impact of this decision. For example, the company will not apply the supplement on any bookings where the guest has already paid the full cost of the cruise


Royal Caribbean Raises Dividend

Royal Caribbean Cruises Ltd. directors raised the quarterly dividend to $0.13 per share from the $.011 paid previously. The company said the dividend will be paid Sept. 29 to shareholders of record Sept. 18 and noted this is the 28th consecutive quarter directors have voted to declare a dividend to common stock shareholders.


Greek Shipowners Hit by Tax Changes

Greek shipowners must now pay tonnage tax on ships operating under flags other than the Greek flag which are managed by companies based in Greece, or offshore companies which have a branch in Greece, operating under Law 89 of the Greek constitution. Michael Kotsapas, a partner with the Moore Stephens shipping team, said, “This new requirement to pay tonnage tax, effective from January 1, 2013, mirrors that which is already in existence for the Greek-flag merchant fleet


Caterpillar Maintains Dividend Rate

Caterpillar Center

  The Board of Directors of Caterpillar Inc. voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable November 20, 2015, to stockholders of record at the close of business on October 26, 2015.  “I am pleased to announce we are maintaining Caterpillar’s dividend,” said Caterpillar Chairman and CEO Doug Oberhelman. “Even in this challenging environment


Turkish Crew Freed Two Weeks after Kidnap by Pirates off Nigeria

Six Turkish members of a cargo ship's crew who were kidnapped by pirates off the coast of Nigeria two weeks ago have been released and are safely back in Istanbul, a lawyer for the shipping company said on Tuesday.   "The six of them have been released and are back in Istanbul


Sembcorp Profit Halved as Clients Defer Projects

Revenue falls 30 pct; order book at S$9.7 billion. Singapore rig-builder Sembcorp Marine's quarterly profit halved as customers deferred projects, and it faces prolonged uncertainty on contracts from its biggest client, Sete Brasil, whose shareholders have approved its bankruptcy.


Korean Shipbuilders Maintain Top Ranks, Despite Troubles

Photo: Daewoo Shipbuilding & Marine Engineering

 Korea's 'Big Three' shipbuilders are still the world's three biggest by order backlog, despite their troubled management, according to data from UK-based Clarkson Research Services.   The country’s three largest shipbuilders – Daewoo Shipbuilding & Marine Engineering Co


Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders of record as of the close of business on May 12, 2016.


ILO Minimum Wage for Seafarers to Stay at $614

Photo:  International Chamber of Shipping

 The recommended International Labour Organization (ILO) Minimum Wage for Able Seafarers will remain at its current level of US$ 614 basic pay per month until at least 2018.   This follows an ILO Joint Maritime Commission (JMC) meeting held in Geneva last week


Caterpillar Maintains Dividend Rate

Doug Oberhelman, Caterpillar Chairman and CEO Photo credit Caterpillar

The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable May 20, 2016, to stockholders of record at the close of business on April 25, 2016.


Nanjing Tankers Implements 'Smart Shipping' Connectivity

SAILOR antennas for largest Fleet Xpress install project (Image: Inmarsat)

Largest contract to date for Inmarsat’s Fleet Xpress paves the way for ‘smart shipping’ for Nanjing Tanker Corporation, with installation of Cobham’s SAILOR 60 GX and SAILOR 100 GX antenna systems across 70 ships  


Bets Are off for Stranded Hong Kong Casino Ship and Forlorn Crew

Captain Valerie Lyzhyn and his 45 crew are stranded in Hong Kong, big losers in a gambling slump triggered by a Chinese crackdown on corruption that has scared off the high-rollers.   Lyzhyn, 62, a Russian-born Ukrainian and veteran seaman, and his colleagues


Keppel's Profit Nosedives

Photo: Keppel Corp

 Keppel Corp., the world’s largest builder of oil rigs, posted a 41 per cent fall in quarterly profit, its fourth straight decline, as offshore and marine segment revenue slumped because of the deferment of some projects and suspension of contracts related to Sete Brasil.  


Maritime Industry Gathers to Address Cyber Security Threats

Pic: Maritime and Ports Authority (MPA)

 The Maritime and Port Authority of Singapore (MPA) and the Singapore Shipping Association has co-organised the inaugural Cyber Security Seminar in conjunction with the Singapore Maritime Week 2016.   Teo Chin Hock, Senior Advisor, Cyber Security Agency of Singapore (CSA)


Ship Owner to Pay Ransom for Indonesian Hostages

Luhut Pandjaitan. Photo: Indonesian Ministry for Political, Legal and Security Affairs

 Indonesian government said that the company that owns the hijacked tugboat Brahma 12 has agreed to pay the 50-million-peso ($1 million) ransom demanded by the Philippine rebel group Abu Sayyaf for the release of 10 Indonesian crewmembers who have been held hostage since March 26.  


Beckmeyer Visits Rolls-Royce's MTU Research

Beckmeyer being shown around MTU Reman Technologies in Magdeburg Courtesy Rolls Royce

Uwe Beckmeyer, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy paid a visit to MTU Reman Technologies in Magdeburg to find out more about the company’s development operations in the maritime sector.


Transocean Provides Fleet Status Report

Photo: Transocean Ltd

 Transocean, the world's leading offshore drilling contractor with 61 rigs in its fleet, has issued a Fleet Status Report that provides the current status of and contract information for the company's entire fleet of offshore drilling rigs.   


Cobham, Inmarsat Enable Smart Shipping for Nanjing Tankers

Contract signing ceremony with Mr. Zhang Chuan Qin, EVP of NTC (right), and Mr. Song Zhen, Vice President of Sales and Marketing for MCN. Photo Inmarsat

Inmarsat (LSE:ISAT.L), and Cobham SATCOM today announced that their partner Beijing Marine Communication & Navigation Company Ltd. (MCN) has won the largest Inmarsat Fleet Xpress installation project to date, with Nanjing Tanker Corporation of China


Ocean Rig buys Cerrado drillship

Photo: Ocean Rig

 Cyprus-based Ocean Rig has stepped in to buy the sixth generation ultra-deepwater (UDW) drillship Cerrado, which once drilled the giant Libra prospect offshore Brazil, following its owner Brazil-based Schahin Group bankruptcy declaration last April.  






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright