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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


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.


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


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


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.


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


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


Washington State Collects Civil Penalty for Spill

The Washington State Department of Ecology has negotiated an agreement by which Unix Line Private Ltd. of Singapore will pay $34,000 for negligently releasing 50 gallons of oily waste into Commencement Bay from the chemical tanker KAEDA. The company will also pay $5,194 for investigation and cleanup costs for the spill, which occurred on October 22, 2002.


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.


Technip dividend FY 2014

TECHNIP WORLDWIDE

  At the Annual General Meeting, held today, Technip’s shareholders approved the proposed €2.00 per share dividend for the 2014 financial year and decided to offer shareholders an option to receive the dividend payment in shares.


Dubai's DP World Eyes Dollar Bond

DP World, one of the world's biggest port operators, wants to issue a dollar-denominated bond and could announce plans to market the deal to fixed-income investors as soon as next week, three sources aware of the matter said on Thursday. The Dubai-based firm could raise between $750 million and


Panamax Vessel Delivered to Diana Containerships

diana containership logo.png

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v YM New Jersey, a 2006-built Panamax container vessel of approximately 5


Vane Brothers Welcomes Latest Tug Newbuild

Kings Point (Photo courtesy of Vane Brothers)

The Vane Brothers Company, a marine transportation provider headquartered in Baltimore, has taken delivery of Kings Point, the latest in a wave of Maryland-built tugboats.   Constructed under the supervision of Vane Senior Port Captain Jim Demske


HK Dockers Threaten to Strike Over Wages

A pic of Hong Kong Dockers Strike (Courtesy: Hong Kong Dockers Union Facebook page)

 The Hong Kong Dockers Union has threatened industrial action - that may involve a strike - if operators continue to ignore their demand for a 8.5-percent wage increase this year.   The union is an affiliate of the Confederation of Trade Unions and made their demands known at the start


Vopak Workers Plan One Day Strike at 11 Dutch Terminals

Vopak workers are planning strike action at all 11 of the company's oil, gas and chemical terminals in the Netherlands on April 22, union officials said on Wednesday.   Union official Albert van Damme said the strike action would effectively halt operations at the terminals during the


Meyer Werft Buys Finland out of Turku Shipyard

Photo: Meyer Turku

Germany's family-owned Meyer Werft shipyard is buying the Finnish state out of Turku shipyard in southwestern Finland, the government said on Wednesday. Meyer Werft and the government last year bought the troubled shipyard from Korean trade and ship corporation STX


Staff to Strike at Vopak after Wage Talks Break Down

Unions at Dutch oil storage company Vopak said staff would begin a series of strikes at the company's terminals after talks aimed at securing improved employment conditions for 800 staff broke down on Tuesday afternoon.   A union official said the strike would begin at 2000 GMT and last a


Diana Containerships Takes Delivery of Panamax Ship

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Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v YM Los Angeles, a 2006-built Panamax container vessel of approximately 5


Zambia is Newest IMO Member State

IMO Secretary General Koji Sekimizu with His Excellency Paul William Lumbi, High Commissioner of the Republic of Zambia to the United Kingdom (Photo: IMO)

High Commissioner visit marks Zambia’s membership of IMO   His Excellency Paul William Lumbi, High Commissioner of the Republic of Zambia to the United Kingdom, on Wednesday, April 8 paid a courtesy visit to the Headquarters of the International Maritime Organization (IMO)


Ohio Sues Army Corps over Cleveland Harbor dredging

Cleveland Harbour Lake Erie by US Army Corps of Engineers

 Ohio Attorney General Mike DeWine's office filed suit Tuesday against the U.S. Army Corps of Engineers for its plan either to place dredge material from Cleveland Harbor in Lake Erie or refrain from dredging the entire navigation channel unless a non-federal partner pays to place it in


Ship Manager Fined for Emissions Regulations Breach

A ship management company has been fined $283,500 in connection with a breach of clean air regulations in the United States, the International Transport Intermediaries Club (ITIC) has confirmed.   ITIC reports that an inspector of the California Air Resources Board


AVIC buys 60% in ship investment firm

Photo Courtesy: AVIC International Maritime Holdings Limited.

 AVIC International Maritime Holdings is in the process of acquiring 60 per cent in a Singapore-incorporated ship investment firm for $3.6 million.   The Singapore-listed firm, as per a regulatory filing, will acquire three million issued and paid-up shares


Lekki Deep Sea Port Hit a Snag

The Layou Map: Tolaram Port@Lekki

 The absence of a plan to construct a rail link that will ease cargo evacuation will create delay in the Federal Government's commitment of $118 million to the construction of Lekki Deep Seaport in Lagos, as per a report in Daily Independent.  


Finnish Seamen Strike Cancelled

MSV Nordica Icebreaker. Photo: Arctia Shipping

 The dispute between icebreaker crew and their employer will not now shut Finnish ports.   The two-and-a-half week strike on Finnish icebreakers has ended after the parties involved approved the national mediator's latest offer to solve the dispute






 
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