Seadrill has been awarded a contract by Husky Oil China Ltd. on the Chinese continental slope for the deepwater semi-submersible drilling rig West Hercules. The contract has a firm duration of three years with estimated contract value of approximately $580m, including mobilization fee. West Hercules is currently under construction at Daewoo Shipyard in South Korea and is scheduled for delivery in the second quarter 2008.
The Board of Directors of COSCO Corporation (Singapore) Limited announced that shipyards, which are subsidiaries of the Company’s 51% owned subsidiary COSCO Shipyard Group Co., Ltd, have secured contracts valued at approximately USD230 million to build one (1) Floating Accommodation Unit (FAU) and one (1) Module Carrier as follow: 1. COSCO (Qidong) Offshore Co., Ltd Contract from a Singapore entity to build one (1) Floating Accommodation Unit (FAU) scheduled for
W&O Supply has secured contractual agreements with Transocean Offshore, Inc. and Teekay Shipping, two recognized leaders in the offshore exploration and marine shipping industries. The general service agreements designate W&O Supply as primary provider of marine valves and related products for Teekay Shipping’s fleet and Transocean’s offshore drilling rigs. W&O Supply’s reputation for distributing quality marine products quickly and efficiently were major factors in the company being
Boustead Heavy Industries Corporation Bhd hopes to secure shipbuilding contracts. The company, formerly known as PSC Industries Bhd and currently undergoing restructuring, expects to know the results by year-end, he told reporters after the company's annual general meeting. Part of the negotiations was for the construction of leisure vessels which are currently handled by its shipyard in Langkawi. The company also planned to tap the oil and gas sector
Keppel Offshore & Marine Ltd (Keppel O&M) has secured contracts worth over $20.7 million through its overseas subsidiaries for the upgrade and repair of three semisubmersibles (semis). One of these contracts, secured in the Netherlands, is for the inspection and repair of a semi accommodation rig, COSLRIVAL (ex-Port Reval), from China Oilfield Services Limited. K&O plans to upgrade COSLRIVAL’s electrical switchboards and piping systems and overhaul its marine equipment and
Keppel Offshore & Marin Ltd (Keppel O&M), through its subsidiaries, Keppel Shipyard Limited (Keppel Shipyard) and Keppel FELS Limited (Keppel FELS), has secured contracts worth $114.8m for a Floating Production Storage and Offloading (FPSO) vessel conversion, a Derrick Lay Barge completion and the life extension of a semisubmersible rig. Tong Chong Heong, CEO of Keppel O&M said, “As market sentiments liven up
Keppel Singmarine Pte Ltd (Keppel Singmarine) has clinched a $87.2m contract to build a Floating Storage Offloading system (FSO) unit for LUKOIL –NIZHNEVOLZHSKNEFT (LUKOIL-NVN), a subsidiary of the Russian oil company, LUKOIL Oil Company. The 28,000 tons (dwt) Ice-Class FSO is a new design by Marine Technology Development Pte Ltd (MTDTM), the design arm of Keppel Singmarine. The MTD13028FSO-IC FSO is designed with provisions for forecastle deck structure for single point mooring
Northrup Grumman Corp., Defense Mission Systems, Virginia Beach, Va., is being awarded a $6,916,010 cost-plus-fixed-fee, indefinite-delivery and indefinite-quantity contract for radar surveillance and detection and tracking systems support. The contract contains options which, if exercised, would bring the total cumulative value of this contract to $34,045,008. Work will be performed in Dam Neck, Va. (40 percent), onboard East Coast
Smedvig has signed an agreement with Norsk Hydro to extend the drilling contract for the semi-submersible drilling rig West Venture. The extension of the drilling contract has a firm duration of two years and in addition, annual renewal options for five more years. The estimated contract value for the firm period is US$ 150 million (approximately NOK 1 billion) and includes an incentive scheme related to drilling performance.
Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary, Keppel FELS Brasil, has secured contracts from Noble Corporation (Noble) to upgrade and repair two of Noble's Brazil-based drillships for $304m. The scope of work covers the fabrication, repair and replacement of components, including the stern section, accommodation blocks, sponsons and heliport. Work on the drillships, Noble Leo Segerius and Noble Roger Eason
Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight
Solstad Offshore ASA (SOFF) says it has entered into a frame agreement with Technip Norge AS and Technip UK Limited (Technip) to supply vessels for trenching, construction and subsea services. The deal’s commercial terms have not been disclosed.
Norsafe informs it has signed a new contract with VARD Group, and will supply lifeboats complete with davit systems to a series of 15 new vessels. Topaz Energy and Marine has appointed shipbuilder VARD Group to construct 15 Module Carrying Vessels (MCVs)
Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to build three Trailing Suction Hopper Dredgers (TSHDs). The TSHDs are worth about S$100 million in total.
Ocean freight rates for cargo moving under contracts on the major East-West trade routes saw another reduction in the last quarter of 2015, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight
COSCO (Guangdong) Shipyard Co., Ltd, has secured a contract from a European buyer to build one 15, 000m 3 Trailing Suction Hopper Dredger. The Singapore-listed shipbuilder COSCO Guangdong and the buyer have agreed to keep the contract price confidential
Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted by continued strong operational performance, fleet growth and general cost savings
Vard Holdings Limited, a global designer and shipbuilder of offshore and specialized vessels, has announced that it has secured a new contract for the design and construction of one stern trawler for HAVFISK ASA. The contract value is approximately NOK 325 million.
Topaz Energy and Marine, a leading offshore support vessel company, today announces its results for the year ended 31 December 2015. Business Highlights * Net Profit for the period was US$ 20.8m before exceptional items, impairment charge of US$71 million on vessels and a one-off
Reftrade has secured a $2.8 million contract with international shipping and delivery company Chronopost International, to install refrigerated cold rooms on multiple platforms and distribution hubs throughout France. Reftrade’s French division
Bibby Offshore’s Norway division, Bibby Offshore AS, has secured its first contract in the region with ConocoPhillips Skandinavia. Managed from Bibby Offshore’s Stavanger office, the workscope involves project management, installation engineering
As the downturn in the number of new vessel orders last year took hold, shipyards’ flexibility to switch sectors to take orders became a key factor in their ability to face up to an extremely challenging period, says Clarksons Research.
Shipbuilder ASL Marine has secured a total S$156 million worth of contracts from its shipbuilding, shiprepair & conversion, shipchartering and dredging engineering divisions. The contracts secured are mainly from repeat customers in the region as well as in the Middle East
Although many builder countries struggled to win new orders in 2015, yards in the Philippines, Vietnam and Taiwan managed to increase their combined share of global ordering to its highest level on record, says Clarksons Research.
Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates