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 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 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
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
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
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
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 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 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 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
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
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 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, 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
The Philippines aims to buy two frigates, two helicopters and three gunboats for deployment in the South China Sea where a territorial dispute with China has lent urgency to the need to bolster forces, a Philippine navy officer said on Wednesday.
Electromagnetic Geoservices ASA (EMGS) recorded revenues of USD 52.5 million in the fourth quarter 2014, up from USD 41.7 million in the third quarter and from USD 44.9 million in the corresponding quarter in 2013. Contract sales totaled USD 25
Bestobell Marine, part of the President Engineering Group, has received its third order in the past 12 months from Hudong Zhonghua shipyard in China. The deal involves the supply of 460 cryogenic miniature needle globe valves per ship for four Teekay/CNOOC/China Shipping Group LNG (liquefied
Rolls-Royce has signed contracts with Bastø-Fosen and Fjord 1 in Norway for azimuth propulsion systems for five new double ended ferries. The ferries are scheduled to enter into service along the coast of Norway in the summer of 2016.
Algoma Central Corporation announces $160 million investment in fleet expansion and fleet renewal Algoma Central Corporation announced that it has acquired a 2009-built handy size self-unloading ocean class vessel, the Gypsum Integrity, from Gypsum Transportation Limited
U.S. Navy Secretary Ray Mabus on Thursday warned that congressional plans for a piecemeal modernization of 11 cruisers would cost billions of dollars more than the Navy's original plan and meant the warships would have to be retired earlier.
OSI Maritime Systems signs contract for the implementation phase of Integrated Navigation and Bridge Systems for the Royal Canadian Navy’s Arctic Offshore Patrol Ship Program OSI Maritime Systems Ltd. (OSI) has signed a contract with Lockheed Martin Canada to build
The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs), with an option for additional five more vessels, the company said in a bourse statement.
Striking Israeli dockworkers defied a court order on Thursday and shut down the country's two main seaports for a second day in protest at the creation of two new foreign-run ports. Spokesmen for the ports of Ashdod and Haifa said 2,400 workers had left their posts and union leaders had gone
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
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.