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Ship Deal

Aker Yards Wins Cruise Ship Deal

Aker Yards has announced that the Aker MTW Werft GmbH yard in Germany has won a $377.9 million deal to build two cruise liners. The liners, ordered by Aida cruises Ltd., will be 662.7 ft. (202 m) long and have a capacity for 1,600 passengers. Delivery will occur in the first quarter 2002 and the first quarter 2003.


Latvia Shipping Asks Hyundai To Extend Tanker Deal

State-owned Latvian Shipping has asked South Korean Hyundai Heavy Industries to extend the deadline for signing a $200 million tanker order because of political delays. Latvian Shipping is in the process of having a 44 percent stake sold off. It must receive approval for the shipping deal from the Latvian privatization body - a process, which has been bogged down in political infighting. A deadline for signing a deal with South Korean expires on Oct. 22


KMSS Signs Royal Caribbean Deal

Kongsberg Maritime Ship Systems (KMSS) has secured the contract to supply Fire Detection Systems to four Radiance Class ships run by Royal Caribbean Cruises Limited (RCCL), out of the Meyer Weft shipyard in Papenburg, Germany. The contract is worth $3.2 million in total. The four ship deal will see KMSS installing it’s Autrosafe Fire Detection System with Self Verifying Detectors on the currently sailing ‘M/S Radiance of the Seas’ and the ‘M/S Brilliance of the Seas’, which is due


Bidders Circle $4b Daewoo Ship Deal

Despite a sliding stock market, bidders for 's Daewoo Shipbuilding may have to pay a hefty premium and large fees to snap up the coveted $4 billion asset amid upbeat prospects for the sector. Slow progress in the bidding process due to union protests and delays in selecting a lead manager, which coincided with a retreat in global stocks and a decision to exclude foreign bidders, has benefited potential buyers by reducing competition and the value of the deal by $2 billion from a year ago.


Moore Stephens Says Banks Will Take a Firmer Grip

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International accountant and shipping consultant Moore Stephens says the banks will exert more control over the shipping industry in 2013.   It also expects vessel values to fall further, and the cost of regulatory compliance to increase. Moore Stephens partner Julian Wilkinson says, “For shipping in 2012, it was not so much a case of ‘Crisis, What Crisis?’ as ‘Crisis, Which Crisis?’ This year will be equally challenging


Moore Stephens Recommends Exploring Leasing Solutions

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International accountant and shipping adviser Moore Stephens said shipping companies should explore leasing opportunities as a way of adjusting their self-owned and chartered-in tonnage balance in response to the radical changes that have taken place in ship financing in recent years. Phil Cowan, the firm’s Head of Corporate Finance, said, “The traditional thinking of a company needing to own all the resources it uses to operate has been successfully challenged for many years


Daewoo Wins $602m Deal

  Daewoo Shipbuilding & Marine Engineering Co., has won a deal worth $602mto build eight container ships, Korea Times said. The deal with a European shipping company entails Daewoo Shipbuilding to deliver the vessels by January 2011, the shipbuilder said in a regulatory filing. The shipyard has clinched deals valued at $1.9b to build 15 ships so far this year. Daewoo Shipbuilding aims at winning $17.5b worth of orders this year


HHI Wins $400m LNG Ship Deal

Hyundai Heavy Industries reported winnning a $400m deal to build two LNG carriers for BW Maritime Pte Ltd, part of Singapore's BW Group, according to a report on Reuters. HHIs is scheduled to deliver one of the two vessels in the second half of 2014 and the other in the first half of 2015. The contract included an option for two additional vessels.


Shipping Deal Opens Market for BASSnet Software

Indonesia-based logistics and shipping company, PT Pelita Samudera Shipping (PT PSS) has chosen BASSnet  software solutions to enhance the management of its highly valued shipping assets.   Upgrading the efficiency of the well-known ship manning firm marks BASS’ foray into the Indonesian market and reflects its expanding presence in Asia. BASSnet  Maintenance and BASSnet  Procurement modules that PT PSS is deploying demonstrate the best advantages that


Lloyds Bank Withdraws From Rosneft-BP Loan

  Lloyds Bank, part-owned by the British government, has withdrawn from a $1.5-$2 billion trade finance deal involving oil major Rosneft, in a development highlighting the growing unease among Western banks in funding Russian deals. Lloyds, along with Deutsche Bank, HSBC and Bank of China was a mandated lead arranger (MLA) on the loan to finance BP's purchase of crude oil and refined products from Rosneft.


Vale to Lease 10 China Merchant Bulkers

Brazil's iron ore miner Vale SA said on Friday it secured a deal with China Merchants Group to lease for 25 years as many as 10 very large ore carriers, which will be built by China Merchants, to ship ore from Brazil to mainland China. Vale had commissioned at least 35 VLOCs


NAVTOR, AWT Pact Heralds in e-Nav Integration

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E-navigation pioneer NAVTOR has signed an agreement with maritime weather routing specialist Applied Weather Technology (AWT) that will see the two companies integrating their services to offer the ultimate in route planning and decision making tools


Waterjets Manufacturing Comes Stateside

Thrustmaster founder, president and CEO Joe Bekker (middle) seals the deal to bring waterjet manufacture to Texas.

Thrustmaster’s deal with DOEN brings waterjet manufacturing to the United States.   Marine propulsion and thruster manufacturer Thrustmaster of Texas, Inc. announced a deal earlier this year to acquire the technology of DOEN, an Australian designer and manufacturer of waterjet


NAVTOR, AWT Agreement Marks Next Step in E-navigation

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NAVTOR has signed an agreement with maritime weather routing specialist Applied Weather Technology (AWT) that will see the two companies integrating their services to offer route planning and decision making tools. As a result of the deal


Vale, Cosco to Cooperate on Iron Ore Shipping

Brazilian miner Vale SA reached a deal with China Ocean Shipping Co (Cosco) for transporting iron ore, a move that could help the Brazilian miner resolve a costly two-year ban on docking its mega-ships at Chinese ports. Vale said in a statement that it would transfer ownership of four very


Deal to End Lockout at Canada Uranium Mine

Workers are expected to begin returning to the McArthur River

  Canadian uranium producer Cameco Corp and the United Steelworkers union, which represents 535 workers at the world's largest uranium mine and a nearby mill, have agreed to a tentative deal ending a nearly two-week lockout, both sides said on Friday.


Sri Lanka Port Project: China Merchants, CHEC Invest $601-M

Two of China's largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka's Hambantota port, part of a series of deals signed during a visit by President Xi Jinping to the island nation. Keen to establish its presence in the Indian Ocean


Maersk Sees US Approval of Shipping Alliance as Formality

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U.S. regulatory approval of a proposed shipping alliance involving AP Moeller Maersk should be a formality, the Danish company's chief executive said on Wednesday. The alliance between Maersk and Swiss-based Mediterranean Shipping Co (MSC), the two largest container shippers in the world


Impact of Upcoming Regulations on Wreck Removal

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The Nairobi International Convention on wreck removal was ratified by India recently and will be enforceable from April next year. This will place financial responsibility for the removal of certain hazardous wrecks on shipowners. Acknowledging this change


Rotterdam Integrates Safety Research with LNG Training Facility

Arjen Littooij, general director Safety Region Rotterdam Area opened today the very first northwest European Falck-LNG-training facility for liquefied natural gas on the Rotterdam Maasvlakte.

  The Dutch company Falck Risc is becoming the number one expert on LNG safety in Europe. Together with the Unified Fire Department, Falck Risc will draw up guidelines and recommendations for emergency response services in dealing with Liquefied Natural Gas (LNG)


Lilaas Engages Imtra for N. American Distribution

Lilaas Managing Director Øyvind Lilaas (left) and Alex Larsen, Imtra VP Commercial Sales, shake hands on the deal that is expected to open up the North American market to Lilaas controls

  Strong prospects in the North American marine equipment market have triggered a new importation and distribution agreement between control specialist Lilaas AS and well-known marine and offshore sales and support organization Imtra Corporation, of New Bedford, MA.


Nigerian Oil Workers Call Off Strike After Talks with Government

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  Nigerian oil workers' unions have called off a four-day strike after reaching a deal with the government in a dispute over pensions, they said on Saturday. A joint statement from the two main unions also said they had agreed to resolve directly with the state oil firm an outstanding


Maersk Drilling Wins 2-Year Angolan Extension

The head of Maersk Drilling said on Wednesday the A.P. Moller-Maersk unit has won a two-year extension for its Maersk Deliverer deepwater rig worth $387 million. Maersk Venturer, a new rig set to be delivered this year, had also won a letter of award for a short-term contract in South East Asia


BP, Pavilion Ink Long-Term LNG Deals

Pavilion to buy 0.4 mln tpy LNG from BP for 20 years. Aims to become a global LNG firm in medium to long term. Working with SGX, regional govts on LNG price marker. Singapore's Pavilion Energy said it had signed two long-term contracts to buy liquefied natural gas (LNG) for trading and supply


Kuwait to Ship Crude to Egypt in October

Kuwait said on Wednesday it would ship around two million barrels of crude oil in early October to Egypt, giving it priority as a buyer ahead of sales from storage into the Mediterranean market. The deal for two million barrels a month of Kuwaiti crude was signed this week with the Arab






 
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