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Contract Signed

Rosneft Inks Supply Pact with PDVSA

Russian top crude producer Rosneft and Venezuelan state oil company PDVSA have signed a new contract for supplies of oil and oil products of Venezuelan production, the Russian company said on Monday. The document envisages the supplies of over 1.6 million tonnes of oil and 9 million tonnes of oil products to Rosneft within five years, it added in a statement. Under their first long-term contract, signed in May, the Venezuelan party has already supplied 375,000 tonnes of oil products, Rosneft said. Reporting by Polina Devitt


Russian Shipbuilders Sign Large Contracts

According to a Dec. 7 report from Itar-Tass, two new shipyards in Russia’s Primorsky Territory – Zvezda (Star)-DSME and Vostok (East)-Raffles that were laid down just a year ago, have already been engaged with orders. The contracts signed to date include the construction of 47 heavy-tonnage shipbuilding facilities. These are tankers, LNG carriers, floating plants to produce liquefied natural gas, as well as offshore drilling platforms.


VTC Gets $6.4m Contract

The upgrade of DGPS stations includes adding capability to use Modernized GPS signals and the additional functionality required for tracking the future Galileo and GLONASS signals without further complex upgrade. The upgrade program will also ensure that the GLA service is compliant with the latest International Maritime Organization (IMO) Resolutions and recommendations from the International Association of Lighthouse Authorities (IALA)


Khulna Shipyard to Build Two Oil Tankers

According to a report from The Financial Express Bangladesh, United Shipping Line and Global International Limited have ordered two oil tankers from Khulna Shipyard in a contract signed on June 19. The two 230-ft by 38-ft oil tankers will be completed by June 2012.   Source: The Financial Express Bangladesh  


Bahri Financed for Two General Cargo Ships

The National Shipping Company of Saudi Arabia (Bahri) will sign a financing agreement with Public Investment Fund (PIF) for 2 newbuildings Bahri is to sign a 'Murabaha Agreement' with Public Investment Fund (PIF). The cash will be used to finance part of the total construction cost of building two General Cargo vessels at Hyundai Mipo Dockyard in South Korea. The value of the financing contract is equivalent to Saudi Riyals 450,000,000 (Four Hundred and Fifty million)


China Shipyards Win US$100-Million OSV Contracts

OSVs in port: File photo

COSCO Corporation (Singapore) Limited says that its subsidiary Dalian and Guandong shipyards in China have won the following offshore vessel construction contracts: 1. COSCO (Dalian) Shipyard Co., Ltd., has secured a contract from an Asian company to build four Emergency Response / Rescue / Field Support Vessels (ERRVs), scheduled for delivery in the first half of 2016. 2. Two shipbuilding contracts signed by COSCO (Guangdong) Shipyard Co


Contract Signed for SemiSub Platform

Statoil and Aker Kværner has signed the contract worth approximately NOK 8 billion for the semisubmersible platform to be located at the Gjøa field offshore Norway. This is in accordance with the memorandum of understanding presented in Aker Kvaerner's disclosure to the Oslo Stock Exhange at 29 September 2006. The scope of work to be performed by Aker Kvaerner will be detail design of topside and hull, procurement, construction and hook-up of topside, and mating of topside and hull


Transas Equips New Ice-breaker

The ceremony to launch the new ice-breaker “Fesko Sakhalin” for Far Eastern Shipping Company (FESCO).built at the Finnish shipyard Aker Finnyards took place in May. The new ice-breaker is a part of A unique technical feature of this vessel is the absence of a helm. It is replaced by propellers (AZIPOD), which rotate 360 degrees; this enables the vessel to hold position without anchors, to move through ice in either direction


Maersk Supply Ships Q3 2013 Profits Soar

A Maersk OSV: Image courtesy of Maersk

Maersk Supply, a subsidiary of the A. P. Moller-Maersk group, came out of the third quarter of 2013 with a profit of US$76-million, against a profit of US$ 48-million in the same quarter in 2012. Revenue rose from US$ 226-million in the period of 2012 to US$ 240 million. The profit for the third quarter of 2013 improved compared to the same period last year primarily due to higher utilization and lower operating costs.


G E Shipping Reworks Newbuildings Kamsarmax Exposure

Jag Laxmi Photo Greatship

The Great Eastern Shipping Company has entered into an agreement to cancel the new building Kamsarmax which was scheduled for delivery in FY 18 (contract signed in FY 14).   Simultaneously, the Company has contracted for purchase of two newbuilding resale Kamsarmaxes being built at the same shipyard, due to be delivered in Q2 FY 17. The transactions collectively are value accretive. The company also reported of having contracted to sell its 1999 built Aframax ship Jag Laxmi (about 105


Damen Delivers Modular Dredger to Van Oord

MMuC (Photo: Damen Marine Services)

To support its ongoing dredging activities, Van Oord has commenced an 18-month charter agreement with Damen Marine Services for a Modular Multi Cat (MMuC) 2210. Damen completed construction under a short timescale, delivering the vessel just four months after contract signing


ALP's Long-range Oceangoing Tug Named ALP Striker

ALP Striker (Photo: ALP)

ALP Striker, named at a ceremony held named on May 13, 2016, is the first of four ultra-long distance towing and anchor handling vessels for ALP Maritime Services, each with a bollard pull of approximately 300 metric tons.   The vessels of the SX157 design are a part of the ALP


Simrad Tech for Sydney Fast Ferries

Ocean Wave courtesy Simrad

Four new fast ferries, owned and managed by Manly Ferries and operating in the busy waters of Sydney Harbour, will use Simrad technology for safe navigation. The owner has specified a range of Simrad bridge equipment for its latest vessels, including an NSO Evo2 quad-core marine processor


Brexit: What Next for Shipping Markets?

Image: Open Europe

 For many in shipping, the Brexit was unexpected. Many believe that Brexit’s impact on the shipping industry will be more or less neutral.   The UK Chamber of Shipping remained neutral on the question of Britain's departure during the runup to the vote.   


NASSCO Makes Three Lead Deliveries in 2015

Isla Bella (Photo: General Dynamics NASSCO)

San Diego based shipbuilder General Dynamics NASSCO delivered three lead ships in 2015: USNS Lewis B. Puller, the Isla Bella and the Lone Star State. Each vessel represents three new and separate ship classes and highlights the builder’s diverse portfolio of commercial and government


NASSCO Delivers Second LNG Containership

Perla Del Caribe (Photo: General Dynamics NASSCO)

 Fueled by liquefied natural gas, the Perla Del Caribe will join its sister ship, the Isla Bella, as the greenest containerships in the world.   U.S. shipbuilder General Dynamics NASSCO today delivered the world’s second containership to be operated by liquefied natural gas (LNG)


VARD's LNG Tank gets DNV GL Approval

The tank is the result of a joint industry project (JIP) initiated by VARD and DNV GL Photo DNV GL

VARD’s new LNG tank design has been granted General Approval for Ship Application (GASA) by DNV GL. The new LNG-type B-tank design is based on vertical cylindrical-shape geometry and has a patented support design. The tank is the result of a joint industry project (JIP) initiated by VARD


First Steel Cut for Bibby WaveMaster

SOV Wavemaster 1 for Bibby Marine Services_LR Photo Damen

Following the recent contract signing for the first ever Damen Service Operations Vessel (SOV) with walk-to-work capability, the first steel was cut this week at Damen Shipyards Galati, marking the beginning of construction for U.K.-based client Bibby Marine Services.


Maersk Drilling Posts Record Profit

Courtesy Maersk Drilling

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted by continued strong operational performance, fleet growth and general cost savings


Police Probe Petrobras Contracts with Keppel

Brazilian police said on Monday they were looking into possible bribes paid in contracts signed by state-run oil company Petrobras and shipbuilder Sete Brasil with Singapore's Keppel Fels. Federal police carried out a fresh wave of searches and arrests on Monday in the ongoing "Operations


BIMCO: Recommended Amendments To Bunker Contracts

Pic: WP Marine

 As widely reported in the maritime press, the United Kingdom's Supreme Court has granted an expedited hearing to Product Shipping & Trading's case against the collapsed OW Bunker (the Res Cogitans).    The hearing will take place on 22 March in London and will deliver the


Statoil Ends COSL Innovator Rig Contract

COSL Innovator Troll. Pic by COSL

 Norway’s Statoil ASA  has decided to end its contract with a drilling rig operated by China Oilfield Services Limited, or COSL, three months after a worker died when the rig was hit by a wave during a storm in the North Sea.   


DSME's First Export Submarine Goes to Indonesia

Photo: DSME

 South Korean defense contractor Daewoo Shipbuilding and Marine Engineering (DSME) launched the first out of three Type 209/1400 Chang Bogo-class (a license-built variant of the 209) diesel-electric attack submarines for service in the Indonesian Navy.  


Four Damen Tractor Tugs for Svitzer

Photo: Damen

Global towage operator Svitzer has signed a contract with the Damen Shipyards Group for four ATD 2412 tugs as part of Svitzer’s ongoing fleet renewal program. All four tugs are being built at Damen Song Cam Shipyard in Vietnam. Demonstrating the advantages to be gained from building vessels


Holland America Line Celebrates Official Handover of 'Koningsdam'

Official Handling over of ms Koningsdam Holland America Line

Holland America Line celebrated the delivery of ms Koningsdam with an official Handover Ceremony, luncheon and shipyard workers party aboard the ship Saturday, April 2, 2016, at the Fincantieri shipyard in Marghera, Italy.   In attendance at the ceremony was Italy’s Minister of






 
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