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Petrobras To Sign Joint Venture With Shell, Mobil And Exxon

Petrobras will reportedly sign an exploration and production contract with the local units of Shell, Mobil and Exxon.

Seaarland, Nordic Tankers Sign Joint Venture

Seaarland Shipping Management and Nordic Tankers signed a joint venture that will see both of these companies enter the Handysize product carrier market. The joint venture will involve investment in modern second-hand vessels as well as new buildings. The vessels will be jointly owned by both partners in varying proportions. The first acquisition by the joint venture, the 2000-built 35,820 dwt Hanne, is to be concluded soon

Britain to Sign Contract for New Aircraft Carriers

Britain is set to sign a long-awaited $7.8b deal to build two aircraft carriers, which will be the Royal Navy's largest ever ships and are set for 50 years of service. The 65,000-ton carriers are said to be called Queen Elizabeth and Prince of Wales and will enter service in 2014 and 2016. The manufacturing contract is going to a consortium that includes a shipbuilding joint venture being set up between two British companies, BAE Systems and VT Group

AlMansoori Joint Venture with Key Energy

AlMansoori Petroleum Services, a subsidiary of AlMansoori Specialized Engineering, regional provider of oilfield services in the Middle East, has signed a joint venture agreement with American-based onshore energy production services company Key Energy Services. The joint venture will bring several new services to AlMansoori’s capabilities in coil tubing, workover rigs, pumping/cementing, fracturing and acidizing

Shipbuilding Support from MHI for Sinopacific Newbuildings

Shipyard Sinopacific: Photo credit MHI

Japan's Mitsubishi Heavy Industries and Sinopacific Shipbuilding of China sign joint development agreement MHI will provide technological support to Sinopacific in the area of commercial vessel construction. MHI is currently promoting expansion of its engineering business mainly through licensing of technology, while Sinopacific is taking steps to strengthen its shipbuilding business through introduction of technologies from advanced shipbuilders

Eni, Rosneft Sign Oil Supplies Agreement


Rosneft’s President and Chairman of the Management Board, Igor Sechin, and Eni’s CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, and Italy’s Prime Minister, Enrico Letta, has signed a term sheet on mutual crude oil supplies and a heads of agreement on joint participation and investments in logistic and commercial activities within the hydrocarbons sector. Rosneft will supply crude oil to PCK Schwedt refinery in Germany and Česká

Wärtsilä, Hyundai form Joint Venture

Wärtsilä and Hyundai Heavy Industries Co. Ltd (HHI) signed an agreement to set up a 50/50-owned joint venture in Korea to manufacture dual-fuel engines for LNG (Liquefied Natural Gas) carriers. The total investment in the company will be EUR 58 million, Wärtsilä's share being EUR 29 million. The name of the company will be Wärtsilä Hyundai Engine Company Ltd and the intended location is in South Korea. The technology shift towards dual-fuel machinery in LNG carriers has significantly

Singapore and the Netherlands Sign MOU

The Maritime and Port Authority of Singapore (MPA) has signed a Memorandum of Understanding (MOU) with the Directorate-General for Freight Transport (DGFT) of the Dutch Ministry of Transport, Public Works and Water Management. The MOU was signed by Mr Chen Tze Penn, Director-General, MPA and his Dutch counterpart, Mrs Jacqueline Tammenoms Bakker, Director-General, DGFT. The signing ceremony took place on 9 Jul 02 at the headquarters of the DGFT at the Hague, Netherlands.

Drydocks World, BP Renew Partnership


Drydocks World – Dubai, the flagship ship repair, conversion and new building yard of Drydocks World, has renewed its long-standing association with BP Shipping with the signing of a new Alliance Agreement. According to the Agreement, signed by Nawal Saigal, Managing Director of Drydocks World – Dubai, and Dave Williamson, VP Fleet Operations of BP Shipping, the two companies will work closely to achieve optimum production levels based on mutually agreed terms

U.S., Europe to Strengthen Marine Science Co-operation

NOAA & the European Commission’s Joint Research Centre (JRC) have signed a landmark agreement that will further strengthen cooperative science activities in the areas of climate, weather, oceans and coasts Meeting in Brussels, Belgium, Jane Lubchenco, Ph.D., under secretary of commerce for oceans and atmosphere and NOAA administrator, and Dominique Ristori, director general of the JRC, signed the agreement, which calls for exchanges of personnel

WSS Acquires TIMM AS

Bjørge Grimholt WSS President

Wilhelmsen Ships Service has signed a definitive agreement to acquire TIMM AS. “The Timm acquisition reinforces our position as a global player within marine products,” says Bjørge Grimholt, President at Wilhelmsen Ships Service (WSS).

GC Hidromek, Aker JV to Develop Dredgers

  GC  “Hidromek”  (Russia) and Aker Arctic (Finland) have signed the strategic partnership agreement  at NEVA 2015 GC “Hydromech” (Russia) Inc and Aker Arctic (Finland) signed an agreement on strategic partnership at the NEVA 2015 International

A Pleasant Sub-prise for Penang Ferry Passengers

The sudden appearance of a submarine has caused excitement among hundreds of ferry users at Penang Port, Malaysia.  The Australian navy submarine HMAS Sheean arrived in for a visit Penang at around 11.30am Monday. HMAS Sheean is in the port for the crewmen’s holiday before they start a joint exercise with a Malaysian submarine later.  Penang Port Sdn Bhd senior general manager (corporate support division) Md Derick Basir said the vessel, which is 77.8m long and 7.8m wide, will be here until Oct

 The sudden appearance of a submarine has caused excitement among hundreds of ferry users at Penang Port, Malaysia.   The Australian navy submarine HMAS Sheean arrived in for a visit Penang at around 11.30am Monday. HMAS Sheean is in the port for the crewmen’s holiday before they

Hapag-Lloyd Secures Financing for Five Newbuilds

The new ships are being built by the South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI). (Photo Hapag-Lloyd)

Container shipper Hapag-Lloyd announced it has signed a 12-year $372 million facility agreement with a banking syndicate to finance the construction of five new vessels ordered from a South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) in April 2015.  

Imtech Marine Signs on to Stay at Innovation Center

From left to right: Mark Linde and Angelien Sanderman (Photo: Imtech Marine)

Imtech Marine, the maritime technologies arm of the recently bankrupt Royal Imtech N.V., announced it has signed on for a prolonged stay at the RDM Innovation Dock where technical students work to develop new maritime technologies such as autonomous and emission free sailing.

NYK Charters 2 LNG Carriers for Freeport LNG Project

  Two joint-venture companies that NYK has established with Chubu Electric Power Co. Inc. each concluded a time-charter contract for a new liquefied natural gas (LNG) carrier with Chubu Electric Power Co. Inc. In addition, one of the joint-venture companies

Drydock World Dubai Signs Up to Use Nupas-Cadmatic

Photo courtesy of Nupas-Cadmatic

Nupas-Cadmatic has signed a contract for the delivery of 3D design and information management software to shipyard Drydock World Dubai (DDWD). The largest single deal in Nupas-Cadmatic’s history, the company said the contract represents its breakthrough in the international offshore

India, Australia Begin First Joint Maritime Exercises

HMAS Arunta sails to India for AUSINDEX 2015. Photo: Royal Australian Navy

 India and Australia have commenced the first bilateral maritime exercise, Ausindex15, in Visakhapatnam, India, strengthening defence cooperation between the countries.   Building on the personal relationship of Prime Minister Modi and Prime Minister Abbott, the Minister for Defence

ABB Turbocharging Inks Service Deals Covering 400 Units

Photo courtesy of ABB

Press release - ABB Turbocharging has signed long-term service agreements with three marine and offshore transport firms covering a total of 400 turbochargers globally.  The service contracts span a period of several years and include turbocharger monitoring

Partnership Eyes Reduced CO2 Emissions

Photo: CMA CGM

Greecarrier Freight Services and CMA-CGM Scandinavia target 30 percent joint CO2 emissions reductions by 2020   Logistics company Greencarrier Freight Service and shipping company CMA-CGM Scandinavia have initiated a long-term collaboration project to cut joint CO2 emissions by 30 percent

EU-bound Jet Fuel Stays at Sea

Tankers anchored off Europe, extend voyage seeking buyers; outlook dim as imports to the region rise. A jet fuel market in Europe saturated by imports from Asia and the Middle East has forced sellers to keep their oil offshore on tankers or chose longer voyages as they seek out buyers.

Sinotrans to Build Five Arctic LNG Carriers

Pic: Sinotrans Shipping

 Sinotrans Shipping, one of China’s largest shipping companies, is in negotiations to take part in a joint venture to commission the building of five Arctic LNG carriers, says the company's stock market announcement.   The company said in a statement that it is in talks with

Aker to Sell Product Tanker JV Interest

Aker Philadelphia Shipyard

  Aker Philadelphia Shipyard ASA announced today that its wholly-owned U.S. subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has entered into definitive agreements with a subsidiary of Marathon Petroleum Corporation (MPC) for the buy-out of APSI's interest in its joint venture with

China Shipping Firms, Dynagas Mull Arctic LNG Vessel Deal

China Merchants Energy Shipping, Sinotrans Shipping and Greek shipping firm Dynagas are in talks to form a joint venture to build five vessels to ship liquefied natural gas (LNG) from the Arctic, the firms said. China Merchants said in a stock exchange statement on Tuesday that its board had

Shanhaiguan Books Order for Six Containerships

Photo by Shanhaiguan Shipbuilding Industry

 China’s Shanhaiguan Shipbuilding Industry has booked an order to build up to six feeder containerships for Dalian Port Wantong Logistics and Dalian Jifa Ship Management.    The newbuilding contract will see the affiliate yard of China Shipbuilding Industry Corporation

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