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Signs Deal

Jiangnan of China Signs Deal For Engines

President Kyusang Cho of Doosan Engine signed a deal with Jiangnan Shipyard (Group) Co., Ltd. (Jiangnan), which is under the control of China’s CSSC Group, in an effort to supply for 12K98MC-C engines for mounting on 8,530 TEU container ships. The signing ceremony was attended by Kyusang Cho, Doosan Engine’s president, as well as Hua Guan Yun, CSSC Group’s executive Vice President, Mr. Shi Ji Gang, this shipyard’s executive Vice President and Mr. Di, CSTC Group’s General Manager among other personnel.


Kuwait Signs LNG Deal With Qatargas

Qatar Emblem

Kuwait has signed a contract to import liquefied natural gas (LNG) from fellow Gulf state Qatar to help meet its energy needs to the end of 2014, state news agency KUNA reported on Sunday. The first shipment of LNG will arrive in Kuwait on Monday under the contract between Kuwait Petroleum Corporation (KPC) and state-owned Qatargas, KUNA said. There were no further details on the terms of the deal with Qatar, which is the world's largest LNG exporter.


Shell Commited To Russia Expansion Despite Sanctions

Meeting with Shell CEO Ben van Beurden. (Photo: The Presidential Press and Information Office)

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions imposed on the country after its annexation of Ukraine's Crimea region.   Shell plans to expand Russia's only liquefied natural gas (LNG) plant with Russian partner Gazprom, he said at a meeting at Putin's residence.   "We, of course, will pledge all the necessary administrative guidance and support


Norway will be Lithuania's 2016 Top Gas Supplier

File Image: a modern LNG carrier (credit: DNV GL)

Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports, the country's energy minister said on Monday. Russia's Gazprom had enjoyed a supply monopoly until the end of 2014, when Lithuania opened a floating LNG import terminal to reduce energy dependence on its former Soviet master. That allowed it to import gas from Norwegian tankers, as well as via pipeline from Russia.


Qatargas, RWE Ink SPA Deal for LNG Deliveries

Al Hamla Q-Flex Photo Qatargas

Qatargas, the World’s Premier LNG Company, today announced a flexible Sale and Purchase Agreement (SPA) with RWE Supply Trading (RWEST), a leading European electricity and gas company. Qatargas will deliver up to 1.1 million tonnes of Liquefied Natural Gas (LNG) per annum to RWEST in North West Europe for seven and a half years. Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive Officer and Chairman of Qatargas Board of Directors


China, Malaysia Ink Navy Vessel Deal

China and Malaysia signed 14 agreements on Tuesday, including one on navy vessels, after a meeting between Malaysian Prime Minister Najib Razak and Chinese Premier Li Keqiang. The agreement on the joint development of the vessels, known as littoral mission ships, was announced at a signing ceremony at Beijing's Great Hall of the People. Last week, Malaysia's defence ministry said in a posting on social media that the country would sign a contract to purchase patrol vessels from China


Suez, Petrobras Sign LNG Supply Deal

French energy company Suez and Brazil's federal energy company Petrobras (NYSE: PBR) have signed an LNG supply deal, a Suez spokesperson reportedly told BNamericas. Suez's Suez Global LNG division signed the deal, in which the volume and price Petrobras will pay for the LNG will vary, the spokesperson reportedly said. The LNG will come from different parts of the world. Petrobras will start operating its two floating LNG regasification units in Rio de Janeiro and Ceará states in May


Daewoo Shipbuilding Signs MOU to Build Ships For Peruvian Navy

Daewoo Shipbuilding & Marine Engineering Co. said that it has signed a memorandum of understanding with Peru to build ships for the country's navy as part of the South Korean company's plan to raise exports of submarines and other military vessels. "The initial pact gives us exclusive rights to build submarines and multi-role support ships if we clinch a final deal with the Peruvian government," said Daewoo Shipbuilding Chief Executive Ko Jae-ho. 


Japan Loans Petrobras $500m to Build Ship Platforms

Brazil's state-controlled oil company Petrobras signed on Friday a $500 million loan from Japan to build eight ship platforms for the oil industry, as part of the visit of Japanese Prime Minister Shinzo Abe to Brazil. Japan will also help Brazil's state development bank BNDES promote investment by small and medium-sized companies in Brazil through its bank for international cooperation, JBIC, according to another deal signed in the Brazilian presidential palace.


Bazil's Vale, China's CMES Sign VLOCs Agreement

MS Vale Brasil. Photo: Vale

 Brazilian mining giant Vale and the China Merchants Group (CMES) signed an expanded framework deal for strategic co-operation on iron ore shipments. Vale has agreed to sell four large iron-ore carriers to CMES.   The world's largest producer of iron ore said in a statement the details of the contract had not yet been finalized and will be released in the coming months.   "No price has yet been disclosed for the four vessels


Maritime Surveillance on Agenda in Mozambique

Photo:  International Maritime Organization (IMO)

 A project to provide a single display maritime surveillance system for Mozambique has been commissioned and handed over to the country’s Government in Maputo (1 December).    The International Maritime Organization (IMO) -supported project is set to boost maritime


Industry to Prevent Shipping of Counterfeit Goods

Brand owners and representatives from the international shipping industry have joined forces in signing an historic declaration of intent aimed at preventing the maritime transport of counterfeit goods. Leaders from global shipping firms, freight forwarders


Hyundai Near Deal With Iran for 10 Ships

Photo: Hyundai Heavy Industries Co

 Hyundai Heavy Industries Co. (HHI), a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships, says a report in Yonhap.   The contract, valued at USD650 million, will see Hyundai supply the Islamic Republic of Iran Shipping Lines, (IRISL) with four 14


India Readies Draft Inland Vessels Bill, 2016

Indias Minister of State for Shipping Mansukh L. Mandaviya. Photo: Press Information Bureau, Government of India

 The following are the salient features of the draft Inland Vessels Bill, 2016 of India.   The Draft Inland Vessels Bill, 2016 covers the Preamble and has 16 parts i.e. Part I to Part XVI. The salient features are:   1.         Part I- enables the Central


GE to Merge Oil & Gas Unit with Baker Hughes

Photo: GE

General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc, creating the world's second-largest oilfield services provider as competition heats up to supply more-efficient products and services to the energy industry after several years of low crude prices.


Rosneft, BP In JV To Explore For Oil

Photo: Official FB page of BP

 Rosneft and BP announce the completion of the deal to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation.   Final binding agreements for the new joint venture were signed at the XX St


Singapore Exchange Completes Baltic Exchange Takeover

Singapore Exchange has completed its takeover of the privately-owned Baltic Exchange, sealing an 87 million pound ($108 million) deal for one of London's oldest institutions, the groups said on Tuesday. The acquisition is one of the latest developments in a string of mergers


Hapag-Lloyd's Quarterly Profit Up, Sees More Cost Cuts

Photo: Hapag-Lloyd

German container shipping group Hapag-Lloyd reported a rise in third-quarter net profit and said it would press ahead with cut costs and seek economies of scale to cope with the worst downturn the industry has ever seen. Net profit at the Hamburg-based firm came to 8.2 million euros ($8


Rolls-Royce Inks US Waterjets Distribution, Service Deal

From left to right: Tommi Viiperi, Rolls-Royce, General Manager Waterjets Sales and Marketing, Tor-Gunnar Hovig, Rolls-Royce, Senior Vice President Offshore & Merchant Solutions, Bill Mossey, Vice President of Marine at Pacific Power Group (Photo: Rolls-Royce)

Rolls-Royce has signed a deal with Pacific Power Group to distribute and service Kamewa steel and aluminum series waterjets in the Western U.S., Alaska and Hawaii.    Pacific Power Group, a longtime distributor for Rolls-Royce MTU diesel engines, has been providing sales


CMA CGM Stays in Red, Pays Back NOL Takeover Loan

File photo: CMA CGM

CMA CGM, the world's third-largest container shipping company, posted on Friday another net loss in the third quarter as freight rates remained weak and it integrated Singapore-based NOL, its biggest-ever acquisition.   The sector was showing the "first signs of stabilisation" as


India Signs MoUs With Foreign Countries for Building Ships and Ports

Prime Minister Narendra Modi. Photo: Official website of Narendra Modi

 The following memorandum of understanding (MOU) and Agreements have been signed by India with foreign countries during the last two years for the development of ports and manufacture of ships in the country:-   (i) Memorandum of Understanding between the Government of the Republic of


Grupo TMM Orders Damen ASD Tug 3212

Damen ASD Tug 3212 for TMM Colima Photo Damen

Leading Mexican maritime operator, Grupo TMM, has signed a Protocol of Delivery and Acceptance with Damen Shipyards Group for a 70 tonne bollard pull ASD Tug 3212 named TMM COLIMA. The tug will operate in the Mexican port of Manzanillo on the Pacific Coast


'Submarines Affair' Prompts Investigations in Israel and Germany

Questions over the purchase of German submarines that started with media reports of a potential conflict of interest involving Prime Minister Benjamin Netanyahu's lawyer have mounted in the last 10 days, spurring investigations in two countries.


Bahri Signs $350 mln Islamic Finance Deal for Oil Tankers

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, said on Wednesday it had signed a $350 million Islamic 10-year financing deal to pay for the building of five oil tankers. The 10-year murahaba financing was arranged by Standard Chartered


Oetker Sells Hamburg Süd to Maersk

Photo: Hamburg Süd

 Dr. August Oetker KG announces that, after more than 80 years, it is divesting its shipping business and will be selling Hamburg Süd with all activities, subsidiaries and principal assets.   The world's seventh-biggest container operator, Hamburg Süd






 
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