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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.


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. 


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


Vinashin Will Supply 6S50MC-C Main Engines

Doosan Engine signed a deal with the Vietnam Shipbuilding Industry Corporation (Vinashin), Hanoi, Vietnam to supply 6 6S50MC-C Main Engines at the client company’s headquarter. The agreement signing ceremony was attended by Seniro Vice President SOo Joon Lee of Doosan Engine and President Mr. N. Q. Ahn of Vinashin and other personnel.


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


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


Damen Sells Shoalbuster to V.O.F. Sleepboot

(L- R) Mr. Jos van Woerkum Managing Director of Damen Shipyards Hardinxveld, Mr. Willem-Harm Mastenbroek Owner and Managing Director of V.O.F. Sleepboot ISA from Wijk bij Duurstede. (Photo: Damen Shipyards)

On August 29 a contract was signed by Jos van Woerkum, Managing Director of Damen Shipyards Hardinxveld, and Willem-Harm Mastenbroek, owner and managing director of V.O.F. Sleepboot ISA, for the delivery of a new Damen Shoalbuster 2709.  


Libyan Commander's Seizure of Oil Ports Risks New Conflict

Libyan forces loyal to eastern commander Khalifa Haftar said on Monday they had tightened their control over four major oil ports, casting a Western-backed project to unite Libya and revive oil exports into deep uncertainty.   Haftar's forces met little resistance as they seized the


Maersk Sells North Sea Stakes to RockRose

Photo: Maersk Oil

Maersk Oil, a unit of Danish conglomerate A.P. Moller-Maersk, has agreed to sell stakes in three North Sea fields to RockRose Energy, the latest new entrant into the ageing basin.   RockRose suspended trading on Wednesday before announcing it has agreed non-binding headline terms and a


Australian Port Sold for $7.3 bln to Consortium

Photo: Port of Melbourne

A consortium of global and domestic funds, backed by investors including China Investment Corp, agreed to buy Australia's busiest port for a higher-than-expected A$9.7 billion ($7.3 billion), a sign that tough equity markets are helping fuel appetite for infrastructure.  


Kogas Sign MoU for LNG Terminal in Mexico

Image: Kogas

 South Korea’s Kogas  (Korea Gas Corporation) has signed a memorandum of understanding (MoU) with the Mexican state of Yucatan to construct an liquefied natural gas (LNG) terminal and gas pipelines that would be worth up to $1.5 billion in a package deal.   


Yamal LNG Project Received €780 Mln in Chinese Loans in July

Photo: Novatek

The Novatek-led Yamal LNG project in Russia received financing in July worth about 780 million euros from China Development Bank and Export-Import Bank of China, according to Yamal's accounting report published on Tuesday.   The 15-year loan deals, of 9.3 billion euros and 9


Libya's NOC Says Tanker Will Transfer Oil from Threatened Port

Libya's National Oil Corporation (NOC) said on Thursday that rival forces had agreed to let a tanker dock at Zueitina port to load oil and take it to a safe place.   The NOC expressed concern earlier this month after reports of possible clashes between the Petroleum Facilities Guard (PFG)


Baltic Exchange Board Backs SGX Bid

The Baltic Exchange board has unanimously backed a takeover bid from Singapore Exchange Ltd , a deal that will give SGX access to a trading platform for the multi-billion dollar freight derivatives market.   On Aug. 4, SGX offered shareholders in London's privately owned Baltic Exchange 160


Monjasa Bags Credit Facility from Société Générale

Photo: Monjasa Group

 Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from the company says credit facility is already operational


Scorpene Submarine Data Leak: Setback to Indian Navy

Photo: DCNS

 India has began multiple investigations to determine the extent of damage caused by the reported massive leak of secret data detailing the combat and stealth capabilities of the Indian Navy’s soon-to-be-inducted Scorpene submarines.  


Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Photo by Krasnye Barrikady Shipyard

 Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling rigs for oil and gas exploration in the Persian Gulf, reports Press TV.  


OSV firm Farstad Continues Restructuring Talks

file Image (Credit: Farstad)

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking to both industrial and financial investors on how to refinance 11.6 billion Norwegian crowns in net interest bearing debt ($1


Hyundai Heavy Wins Russian Bid for 12-Ship Contract

Photo: Hyundai Heavy Industries Co

 South Korea’s troubled shipbuilder Hyundai Heavy Industries Co. announced that it has been selected as the preferred bidder for a 12-oil tanker contract worth $660 million of Russia’s Sovcomflot, reports Korea Herald.  


Controversy on Hyundai Joining 2M Alliance

Photo: Hyundai Merchant Marine Co.

 The world’s largest shipping alliance 2M partners - Maersk Line and Mediterranean Shipping Co  (MSC) -  have been quick to offer shippers an alternate service on the transpacific trade in the wake of Hanjin Shipping’s collapse.  


Sovcomflot $ 1.26 bln Debt Financing Complete

Courtesy SCF Group

SCF Group completed a series of financing transactions in the total amount of USD 1.26 billion. The deals include USD 750 million of unsecured public debt and USD 512 million of bank loans raised for purposes of funding the fleet renewal and expansion programme and for the refinancing of maturing






 
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