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TEN Takes Delivery of Panamax Tanker Aztec

Tsakos Energy Navigation Limited (TEN) has entered into a new medium-term charter arrangement with PMI, the state owned oil company of Mexico. Under the terms of the agreement, TEN has chartered its newly delivered coated double-hulled Panamax, the Aztec, to PMI. The contract is for 30 months at an accretive rate. TEN currently has the Handysize product carrier Libra chartered to PMI until 2005. "We are pleased to furnish PMI with another high-quality vessel to serve their growing production needs," said Nikolas Tsakos, President and CEO of TEN. "TEN is focused on expanding our relationships in this region by building ships that meet our clients' individual requirements and providing superior customer service and support directly to major oil producers like PMI." The Panamax Aztec was delivered on May 29 from Imabari Shipyards in Japan. The vessel immediately entered into a profitable repositioning voyage with a major oil trading concern, and will then commence the time charter with PMI. The Aztec is the third of four new fully coated Panamaxes, and joins its sister ships, the Maya and the Inca, which were both received earlier this year and recently chartered at attractive rates to a major South American oil producer. TEN plans to receive the last of the four Panamaxes, the Andes, in August 2003.


SapuraCrest, Ramunia Awarded Contracts

Two oil and gas players, SapuraCrest Petroleum Bhd and Ramunia Holdings Bhd, announced major contracts related to the industry worth $120 million and $24 million respectively. SapuraCrest said its 51%-owned unit Tioman Drilling Co Sdn Bhd had been awarded a contract from Carigali-Triton Operating Co Sdn Bhd (CTOC) for the provision of two drilling units– Teknik Berkat and a new mobile drilling vessel, known as T-10 – to CTOC.


Wärtsilä Acquires Power and Automation Systems from Aker Kvaerner

Wärtsilä has acquired Aker Kvaerner Power and Automation Systems AS (AKPAS) from Aker Kvaerner. AKPAS supplies power and automation systems for the oil and gas, marine and industrial markets. The company operates mainly in the North Sea region with major oil and gas companies and Norwegian shipyards. AKPAS has annual net sales of EUR 28 million and 135 employees in Stord, Norway. The acquisition price is approximately EUR 12 million.


Wärtsilä Automation in Norway

The Norwegian automation company AKPAS, acquired by Wärtsilä in February, has been renamed Wärtsilä Automation Norway AS. The company becomes part of Wärtsilä from March 1. The company supplements Wärtsilä's product offering in electric propulsion systems, power distribution and automation for the oil & gas and marine sectors. It also strengthens Wärtsilä's capabilities for further development of automation systems.


Norsk Hydro Strikes Oil, Natural Gas Reserves off Norway

Norsk Hydro ASA struck oil and natural gas reserves off the western Norway city of Bergen, reports said. The directorate described the strike as minor though no estimate was given for the size of the find. It said field partners may link the oil and gas reserve to existing production facilities at the nearby Fram field, also operated by Norsk Hydro. The Norwegian government has encouraged oil companies to look for small finds near producing offshore fields to maintain the oil flows that


First Steel Cut for Liftboat ‘Seajacks Hydra’

Photo by Seajacks

A ceremony marked the event at Lamprell’s Hamriyah Dubai facility. The self-elevating, ‘Seajacks Hydra’ has been specifically designed for installation and maintenance services in the offshore wind and oil and gas sectors. The vessel will be equipped with a high speed jacking system, a 400t crane and able to operate in water depths up to 48m. Lamprell Energy has built all three of Seajacks’ current vessels; ‘Kraken’


Jackson Offshore Receives Minority Certification

Lee Jackson, President and CEO of Jackson Offshore LLC, a provider of high specification crewboat services in the U.S. Gulf of Mexico, announced the company’s recent certification as a minority business in the state of Louisiana. Jackson Offshore was formed in part to provide dedicated crewboat services to major oil and offshore service companies wishing to contract with companies involved in the reinvestment and rejuvenation of southern Louisiana and especially New Orleans


TOP Announces Delivery of Sixth in Series of Ten

TOP Tankers Inc, announced that it took delivery of M/T Restless, a 47,084 Dwt, ice-classed, double-hull Handymax tanker, built in 1991 by Halla Engineering & Heavy Industries Limited of the Republic of Korea. As with all the Company's Handymax tankers, the vessel commenced its 2-year profit-sharing employment contract with a major oil trader. The delivery of the M/T Restless represents the sixth of 10 double-hull tankers the Company is acquiring using the proceeds of its initial public


INS is Key Focus at Sonardyne Workshop

Sonardyne Houston WorkshopsWEB.jpg

Sonardyne Inc.’s recent ‘Life of Field’ two day workshop was well attended by over 40 industry professionals, ranging from major oil representatives through to vessel Captains.   Held at the 4 Points Sheraton Hotel, Houston, day 1 focused on acoustic positioning techniques whilst day 2 looked at advances in Metrology, Autonomous Monitoring and Inertial Navigation Systems (INS).   With sessions delivered by members of Sonardyne’s Survey Support Group (SSG)


Far East Contract for Icebreaking AHTS 'Tor Viking'

AHTS Tor Viking: Photo VSS

Viking Supply Ships says it has entered into a contract with a major oil company for their AHTS vessel 'Tor Viking'. The charter of the AHTS will be in the Far East region, commencing in June 2014. The duration is for 11 months firm, plus options to extend the contract by 2 x 6 months subject to availability. Viking considers that this contract strengthens its position within harsh environment operations. The value of the firm period of the contract is around US$ 34.5-million.


Chariot Agrees Brazil Farm Out with AziLat

Barreirinhas Basin

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda., has signed a farm-out agreement with AziLat Limited  through its local subsidiary AziBras


Kongsberg to Supply FPSO Safety System

Kongsberg Maritime Engineering (KME), the wholly owned Engineering, Procurement and Construction (EPC) subsidiary of global maritime technology developer Kongsberg Maritime, will deliver an Integrated Control and Safety System for the new BW Offshore Catcher FPSO.


Chariot Oil & Gas Get Licences for 3 Blocks in Namibia

Oil Blocks in Namibia

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, today announced securing new licences for Blocks 2312 & 2412A (the Central Blocks) and Southern Block 2714A, Namibia and Update on Namibian Portfolio


N-KOM Lays Keel for Qatar’s First Liftboat

N-KOM & Gulf Drilling International senior management and project teams at keel laying ceremony of liftboat Al Safliya (H101) held at the N-KOM Shipyard in Qatar

Nakilat-Keppel Offshore & Marine (N-KOM) has achieved another milestone with the keel laying of its first liftboat newbuild project, awarded in July 2014 by long-time client Gulf Drilling International (GDI). The project marks the shipyard’s first foray into the offshore jack-up newbuild


Greece to Launch Major Oil Quest in July

Greece will invite major oil companies next month to conduct offshore test drillings, the government said on Wednesday, launching the debt-laden country's most ambitious attempt so far to develop its untapped hydrocarbon potential. Athens has made several fruitless attempts over the past


Swire Oilfield Services Plans More SE Asia Investments

Offshore rig worker: File photo

Swire Oilfield Services, global supplier of cargo carrying solutions, modular systems, offshore aviation services and fluid management says it plans to further invest in Southeast Asia with the development of three new operational yards and the arrival of new rental equipment to its fleet.


Exxon Rig Enters Uncharted Waters of Russian Political Storm

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


Exxon Oil Rig Enters Uncharted Waters of Russian Political Storm

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


Crowley Maritime Open Singapore Office

William Hill: Photo courtesy of Crowley Maritime

Crowley Maritime Corp. says it has opened a full-service project management and logistics solutions office in Singapore under the leadership of industry veteran William Hill. William Hill, PMP, has relocated from Crowley’s Anchorage office to Singapore where he has assumed the position of


Hornbeck Offshore Ride High on Q2 2014 Results

Offshore scenes: Image courtesy of Hornbeck

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts from the Company's future outlook: 2Q2014 Upstream revenue and EBITDA set new quarterly highs on the strength of fleet


UK Oil Imports Exceed Exports for First Time in 30 Years

Britain imported more oil products than it exported last year for the first time in 30 years, an official report shows, and analysts say the country is likely to stay dependent on overseas oil as its refineries close. Britain exported 26.2 million tonnes of products such as diesel


Crowley in Expansion Mode Opens Office in Singapore

William Hill, PMP, has been relocated to Crowley new office in Singapore as Director

  With the changing market conditions and a commitment to proactively support the global needs of its customers, Crowley Maritime Corp.’s solutions group has expanded its presence in the Asia Pacific market by opening a new project management office in Singapore.


Jaya Delivers AHTS Vessel for Mermaid Marine

Jaya Majestic

Offshore marine services provider Jaya, now part of Mermaid Marine Australia Ltd. (MMA), today delivered Jaya Majestic, a new state-of-the-art anchor handling tug supply (AHTS) vessel into MMA’s international fleet. Jaya Majestic was built at the company’s Singapore shipyard and is


TEN Charters Out Suezmax Tankers

Nikolas P. Tsakos, President and CEO of TEN (Credit: TEN)

Tsakos Energy Navigation Limited (TEN) announced the chartering of two of its modern Suezmax tankers with a European oil major for 24 and 12 months, with charterer options for another 12 months for each vessel at a base rate with profit sharing


Tsakos Energy Navigation Ltd to Build LR1s for Oil Major

TENs LR1

Tsakos Energy Navigation Limited (TEN) announced today the chartering of two of its modern Suezmax tankers with a European oil major for 24 and 12 months respectively with charterers options for another 12 months for each vessel at an accretive base rate with profit sharing






 
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