The Incat Tasmania-built ship, HSV-X1 Joint Venture, has arrived back at Hobart, Tasmania, returning from the Persian Gulf in service with U.S. defense forces. As the High Speed Vessel HSV-X1 Joint Venture (Incat hull 050) left Tasmanian waters on the evening of September 11, 2001 (AEST) the towers of the World Trade Center fell in New York. The ship which had been chartered for experimental purposes did participate in a number of exercises and experiments but quite quickly went into service in the War against Terrorism. Joint Venture has excelled during her deployment in the Persian Gulf in support of Operation Iraqi Freedom. Just hours after Operation Iraqi Freedom began, Joint Venture sped into the shallow Persian Gulf waters near the southern Iraqi port of Umm Qasr, acting as an afloat forward staging base for Marine Fleet Anti-Terrorism Security Teams and Navy SEAL commandos. On board with the Joint Venture Navy crew is another US Navy team who will form a second crew for HSV 2 Swift. The Navy crew joined the vessel in the Middle East for the trip to Hobart as a familiarization and training run for their forthcoming high speed service on Swift. Joint Venture returns to the shipyard at Hobart for a brief period of scheduled maintenance. Arriving under US Navy control on August 14, the ship will be handed over to the US Army during the course of the maintenance period.
Oil & Natural Gas Corporation Ltd. (ONGC) and Shipping Corporation of Indian (SCI) have entered into a memorandum of understanding (MoU) for setting up a joint venture company called Offshore Marine Services Ltd (OMSL). The joint venture company will provide end-to-end solutions for vessel operations for ONGC and other oil and gas companies. It will also develop capabilities for acquisition, repair and maintenance of offshore floating units and undertake repair and construction on long-term
The Houston Exploration Company and El Paso Production Company, a subsidiary of El Paso Corporation, announced that they have executed a letter of intent to conduct an exploration drilling joint venture in the Gulf of Mexico. Under the terms of the agreement, El Paso will contribute up to $50 million for land, seismic and drilling expenditures and pay 100 percent of the dry hole costs to earn 50 percent of Houston Exploration's working interest in up to six specified exploration wells to be
After over five decades of its involvement in crude oil and gas exploration without involving in crude oil transportation, the Nigerian National Petroleum Corporation (NNPC), has signed a joint venture agreement with Daewoo Ship-building and Marine Engineering (DSME) of South Korea, to establish a world class shipping company which will be involved in crude oil transportation. Already, $10 million has been released as the initial capital for the joint venture business
Transocean Inc. announced that a subsidiary has exercised its option to purchase a 50 percent interest in a joint venture company with Pacific Drilling Limited. The joint venture company will own two ultra-deepwater Samsung-design drillships that are currently under construction in South Korea. Under the terms of an exclusive marketing agreement, the subsidiary has secured a long-term drilling commitment for the first joint venture drillship.
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co. Ltd factory will be located at Lingang, Shanghai and is expected to have its first engine ready for delivery by the end of 2015. The company will in particular target the growing offshore and LNG markets
Lockheed Martin, Mitsubishi Electric Corporation, SAMPA Kogyo K.K. and Mitsubishi Corporation have formed a joint venture company that will serve the emerging combat system engineering and lifetime support requirements of the Japan Maritime Self-Defense Forces (JMSDF). The joint venture company, MLS Corporation, represents a full service partnership arrangement between industry and government, and leverages Japanese and U.S
VT Group plc announced that it has entered into a Framework Agreement with BAE Systems plc to establish a joint venture intended to create a provider of naval ships and associated through-life support. It is intended that the joint venture will comprise the following businesses on completion of the JV transaction: VT’s surface warship building and through-life support operations; each of VT’s and BAE Systems’ 50 per cent
VT Group has finalized its shipbuilding joint venture with BAE Systems. Under the agreement -- the terms of which are substantially unchanged from those set out in the framework agreement in July 2007 -- the BVT Surface Fleet Ltd joint venture will be owned 45 percent by VT and 55 percent by BAE Systems. The joint venture, under which VT has an option to sell its stake to BAE for at least $745 million, is key to VT's attempts to focus entirely on support services
Exmar NV (NYSE Euronext: EXM) is pleased to announce that together with Teekay LNG Partners L.P. (NYSE: TGP) they have successfully closed their 50/50 LPG joint-venture. The Exmar LPG BVBA joint-venture controls 15 owned Midsize Gas Carriers (MGC), out of which 4 are currently under construction at Hyundai Mipo, and one owned Very Large Gas Carrier (VLGC). Exmar LPG BVBA also time-charters in three MGCs and two VLGCs (33.33% share) and bareboat-charters in one MGC and one VLGC.
OAO NK Rosneft will conduct marine fauna monitoring in the Northern Sea Route in 2014. The studies will be organized by the Arctic Research Center, a joint venture of Rosneft and ExxonMobil. The objective of the said studies is collection of data on marine fauna in Rosneft License Areas
Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts worth US110 million to Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard between Nakilat and Singapore’s
Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company established for manufacturing large low-speed marine
On July 24 this year, research vessel Geolog Dmitry Nalivkin sailed from Kirkenes (Norway) to the Kara Sea. In the next three months 2D seismic survey, will be carried out in the three Vostochno-Prinovozemelsky licenses. The field work will be conducted in the surface area that totals
Viking Offshore & Marine Limited (Viking) which is building a portfolio of mainstream offshore, marine and drilling assets, said today that it has secured a 50-month bareboat charter for a land rig system worth approximately US $32 million.
A relatively steady week in the newbuilding market in terms of volume of ordering remarks Clarkson Hellas in their latest S&P Weekly Bulletin, most for LNG carriers. Dry bulk carriers In Dry, Sungdong Shipbuilding have signed contracts with Teh-Hu (Hong Kong) for one firm plus one option 180
A joint venture of five industrial auction companies will sell the physical assets of the 300-acre McDermott fabrication facility in Amelia, La. McDermott continues to operate its other fabrication facilities at multiple locations worldwide.
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V
Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2
Teekay LNG Partners L.P. has announced that it has agreed to sell 2,800,000 common units, which represent limited partner interests, in a public offering. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 420,000 common units
U.S. sanctions on Russia include Rosneft, Exxon's partner: Project may not break sanctions, but brings political risks. An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise
An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for Exxon Mobil Corp. Exxon, the top U.S. oil major and the world's most valued oil company, is bringing the rig
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture, which will take over Wärtsilä’s 2-stroke engine business. Through the agreement, CSSC will own 70% of the business through its affiliate CSSC Investment
Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard established by Nakilat and Singapore’s Keppel Offshore & Marine (Keppel O&M), has secured a contract worth $19 million (69 million Qatari Riyals) to design and construct a floating jetty for Qatar Primary
Norway’s Kleven announced it has signed a shipbuilding contract with Malaysian based joint venture company IES Pioneer Ltd. The vessel is of Norwegian design company MarinTeknikk’s MT 6015 MPSV design and will be outfitted with a crane, helideck and FiFi II