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Signs Contract

Kuwait, Philippine Sign Contract

Kuwait Foreign Petroleum Exploration Company (KUFPEC), Shell and South China Resources (SCR) signed a contract with the Philippine Energy Department on offshore oil and gas explorations in northeastern Palawan, Philippine. The contract covered an area that exceeds 10 million square km, 30 percent of which is assigned to KUFPEC, 55 percent to Shell and the other 15 percent to SCR. The contract includes exploration and drilling of three oil wells within the next seven years and if oil or natural gas is discovered there, the production contract will be extended for nearly 25 years. (Source: People’s Daily Online)


Kronodoc, Aker Finnyards Sign Contract

Kronodoc Oy signed a purchase contract with Aker Finnyards Inc., the former Kvaerner Masa-Yards Inc. In addition to the delivery of the Kronodoc product, the contract includes services to implement the Kronodoc product in document management and collaboration functions throughout Aker Finnyards` design processes; to integrate the product to existing yard systems; to migrate data from existing document management systems to Kronodoc; and to train key users and administrators in the use of the


Coflexip Stena Signs Contract With Hyundai Mipo

Coflexip Stena Offshore came to an agreement with Hyundai Mipo Dockyard for the construction of its newbuild ultra deepwater pipelay and construction vessel, scheduled to begin operations in the second quarter 2001. The future multipurpose vessel, which will be named later on, is designed for subsea construction and for laying rigid and flexible pipe and umbilicals down to 2,500 m. The newbuild will offer a wide range of capabilities covering subsea construction and installation in any deep


Labor Disputes Paralyze West Coast Ports

A contract dispute between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association has crippled West Coast Ports from Seattle to San Diego. According to reports, the shutdown forced some 11,000 unionized workers off their jobs while millions of dollars worth of cargo remained idle. The labor dispute between longshoremen and shipping lines could cost the nation $1 billion a day by halting scores of cargo deliveries


Nam Trieu Begins Construction on 56,200 ton Vessel

According to VNS, Nam Trieu Shipbuilding Industry Corporation, under the Viet Nam Shipbuilding Industry Group, began construction of a 56,200-tonne vessel, the first of three vessels for Japan’s Lavender Maritime S.A. The 623 ft. will be built under Japan’s NK Register in 22 months. Nam Trieu has also signed contracts to build four multi-purpose vessels worth $17m and vessels to transport automobiles capitalized at $2 billion. Source: VNS


Vancover Shipyards and Washington Marine Sign Contract with Acomarin

Vancouver Shipyards together with their parent corporation Washington Marine Group has signed a contract with Acomarin Engineering to purchase their JAK-400 Pushpin® ATB coupling system. Much research went into the decision as to which ATB coupling system would best fit their needs. Acomarin’s JAK-400 Pushpin® coupling system is one of the lightest ATB coupling systems on the market making it an easy retro fit to any tugboat and barge


COSCO Signs Contracts with Four Shipyards

Xinhua reported that COSCO Group, China's leading shipping and logistics service provider, inked in Boao, Hainan Province on Saturday contracts with four domestic shipyards to build 66 ships. Zhang Fusheng, a COSCO spokesman, did not disclose the total value of these shipbuilding contracts but said they summed up to a record amount for the shipping giant. The move is to help meet China's strong demand for shipping as the country's fast economic development gives rise to more imports of


Aker Yards signs Contract with Birka Line

Aker Yards Lifecycle Services and Birka Line have signed a contract for the refurbishment of the spa area on board the Birka Paradise. The contract is worth approximately EUR 2 million. The refurbishment is scheduled for completion in January 2008. The scope of work onboard the cruise ship Birka Paradise includes the extension and refurbishment of the spa area (treatment rooms, saunas, showers and other spa facilities).


Aker Yards Signs Contract with Birka

Aker Yards Lifecycle Services and Birka Line have signed a contract for the refurbishment of the spa area on board the Birka Paradise. The contract is worth approximately $2.7m. The refurbishment is scheduled for completion in January 2008. The scope of work onboard the cruise ship Birka Paradise includes the extension and refurbishment of the spa area (treatment rooms, saunas, showers and other spa facilities). This is the fourth spa refurbishment contract won by Aker Yards in the last


Ocean Rig Charter Out 'Erik Raude'

Rig Erik Raude: Photo credit Ocean Rig

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, signs contract with an oil major for the semi-submersible drilling rig 'Erik Raude'. The drilling contract is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland, with an estimated backlog of approximately US$112 million, including mobilization and demobilization. The rig is scheduled to commence this contract in the second quarter of 2013


Antwerp Port Makes Big Impression in India

Marc Van Peel, port alderman and Port Authority chairman. Photo Antwerp Port

  A few months ago the Essar Group from India decided to buy back the shares from her daughter company Essar Ports Limited (EPL). Port of Antwerp International (PAI), the international consulting and investment subsidiary of Antwerp Port Authority, set up an alliance in 2012 with EPL


Mexican Navy Orders Three Patrol Vessels

Photo: Damen

The Mexican Navy (Secretaria de Marina - SEMAR) and Dutch shipbuilder Damen Shipyards Group have signed contracts for three, 42-meter patrol vessels in addition to navy’s existing fleet.   The new ships will be of the Damen Stan Patrol 4207 design


APLNG Ships First LNG Cargo from Australian Megaproject

Photo: Australia Pacific LNG

 The first cargo of liquefied natural gas has sailed from the mammoth Australia Pacific LNG (APLNG) facility in Queensland, following a delay of at least two weeks with another carrier waiting to be loaded.   The startup of the APLNG project comes after a slight delay


Zentech Inks Deal for Two Z-210 with CSSC

Zentech’s MOU’s with CSSC Huangpu Wenchong Shipbuilding Co. Ltd. for the construction of two (2) Z-210 mobile offshores units Photo Zentech

Zentech Incorporated of Houston, Texas, USA signed contracts with CSSC Huangpu Wenchong Shipbuilding Company Limited for the construction of (2) Z-210 Mobile Offshore Units. These contracts were finalized based on the Letter of Intent received by CSSC Huangpu Wenchong Shipyard on September 23,2015


Israeli Dockworkers End Ports Strike

Workers at the Port of Ashdod (Photo: Ashdodport Company Ltd.)

Israeli dockworkers ended a two-day strike on Thursday that had shut down the country's two main seaports in protest at the creation of new foreign-run ports.   Some 2,400 workers had walked out of the ports of Ashdod and Haifa as union leaders went underground and for most of Thursday


UAE's National Drilling Co. Inks Deal for 14 Rigs

Rigs

  The UAE's National Drilling Company has signed contracts worth $543 million to acquire 14 new rigs, state news agency WAM said on Sunday. One offshore and one onshore rig will be manufactured in the United Arab Emirates (UAE) as part of the deals, WAM said.


Bahri Goes to Hyundai Samho for Five More VLCCs

Image: National Shipping Company of Saudi Arabia (Bahri)

 Immediately after signing contract with signed with Hyundai Samho Heavy Industries to build five VLCCs, with an option to build additional five VLCCs, the National Shipping Company of Saudi Arabia (Bahri) signed a contract with Hyundai Samho Heavy Industries to build additional five VLCCs


Egypt, Russia Pact for LNG Shipments

Image by ESRG

 The Egyptian Natural Gas Holding Company (EGAS) signed an initial agreement with Russian company Rosneft to supply oil products and liquefied natural gas (LNG) shipments.   The document defines key terms of the future cooperation between the companies in the area of LNG supplies.


SBM Offshore Divests Stake in Turritella Project

FPSO Turritella (Image: SBM Offshore)

SBM Offshore has entered an agreement with Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) for the acquisition of a stake in the joint venture companies incorporated for the purpose of owning and operating Floating Production Storage and Offloading (FPSO) Turritella


Conrad Industries 2Q Revenue Shrinks

Conrad Shipyard Puerto Rico

  Conrad Industries, Inc.  announced today its second quarter and six months 2015 financial results and backlog at June 30, 2015. For the quarter ended June 30, 2015, Conrad had net income of $1.2 million and earnings per diluted share of $0.21 compared to net income of $6


MacGregor Wins Deck Machinery Order in China

MacGregor has expanded its winch portfolio

  MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five 48m anchor handling tug supply (AHTS) vessels, each with a 75-tonne bollard pull and one 40m AHTS vessel with a 70-tonne bollard


Greek-US Plan for an LNG Terminal

Photo: Gastrade SA

 Greece and the US are likely to reveal a joint venture to develop a liquefied natural gas (LNG) terminal when US Secretary of State John Kerry makes an official visit to Athens in November.   According to a local news report in eKathimerini


AET Orders Eight Tanker Newbuilds

Photo: AET

AET, an owner and operator of petroleum tankers, has signed contracts worth approximately $500 million combined for the construction of eight new vessels.   AET on Tuesday contracted Korean shipbuilder Samsung Heavy Industries Co Ltd (SHI) for four 113


Korea's Ship Building Orders Dip to 6-Year Low

Image: Hyundai Heavy Industries

 South Korean shipbuilders' new orders in November fell to the lowest level in six years amid woes over their growing losses, Yonhap reports.   Meanwhile, Chinese rivals scooped up a large slice of contracts, according to the data compiled by global researcher Clarkson Research Services


Contracting in Dry Bulk Remains Low - BIMCO

Dry Bulk contracting Courtesy BIMCO

The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the lowest level since 2003. That could potentially sway owners into buying new ships feeding even more into the already oversupplied fleet and worsening






 
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