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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.


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.


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


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. 


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


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.


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.


Aker Brattvaag Acquires Romanian Yard

Norway’s Aker Brattvaag AS, a unit of Aker RGI signed a contract with Romania's main privatization agency to acquire a majority stake in a local shipyard. A statement from the State Ownership Fund (FPS) said that under the contract, the FPS sold its 69.999 percent stake in Santierul Naval Tulcea in a deal worth some $22.6 million, including investments. Two-year investments, mainly in technology and environmental protection, represents some 60 percent of the value of the deal


UASC and Hapag-Lloyd Merger in the Last Leap

File Image: United Arab Shipping Company, Hapag-Lloyd

 A merger between United Arab Shipping Company (UASC)  and German container shipping line Hapag-Lloyd will create a shipping group that is the 5th largest in the world and will give Hapag-Lloyd access to bigger ships on the important Asia to Europe trade route.  


COSCO Says Piraeus Port Sale Terms Inconsistent with Deal

Photo: Piraeus Port Authority

COSCO Greece objected on Wednesday to terms submitted to parliament for the sale of Piraeus Port to China COSCO Shipping, saying they were inconsistent with those previously agreed with the Greek privatisation agency.   Greece sealed the sale of Piraeus Port Authority to China COSCO


UASC Shareholding States Vote to Back Hapag-Lloyd Merger

Photo: UASC

United Arab Shipping Company (UASC) said its six shareholding states backed a merger deal with German container shipping line Hapag-Lloyd AG at a meeting on Wednesday.   UASC, majority-held by the government of Qatar, said in a statement that "..


Hapag-Lloyd Agrees on Merger Terms with UASC

Photo: Hapag-Lloyd

German container shipping line Hapag Lloyd AG on Tuesday said it has reached an agreement on terms and conditions of a business combination agreement with Arab peer United Arab Shipping Company (UASC).   The deal, which would involve all shares in UASC being moved to Hapag-Lloyd


Post-Brexit: UK Chamber Calls for ‘Free Trade Commission’

Courtesy UK Chamber of Shipping

UK Chamber of Shipping statement on the outcome of the EU Referendum The UK Chamber of Shipping remained neutral on the question of the UK’s membership of the EU but we recognise the decision of the British people. The chamber has always argued that the shipping industry is resilient


Turkey to Modernize Pakistan’s Subs

Photo: STM Savunma Teknolojileri Mühendislik ve Ticaret A.Ş.

 The Turkish defense firm Defense Technologies and Engineering (STM) won the tender to modernize Pakistan's submarines against its French competitor DCNS, reports Daily Sabah. STM and Pakistan’s Ministry of Defence Production (MoDP) have concluded the deal to upgrade the Pakistan


Greece's Competition Commission Okays OLP-COSCO Deal

Photo: Port of Piraeus

 The Competition Commission approved the sale of a majority stake in Piraeus Port (OLP) to China’s COSCO during its meeting on Wednesday, saying it is in line with Greek competition laws.   According to Greek national news agency AMNA


Vittoria Shipyard Partners with Peru

Terminal Callao (Photo: APM Terminals)

Vittoria Shipyard has extended its horizons to the South American market; the Adria-based firm – an Italian builder of military, paramilitary, commercial, transport and working ships – has signed an agreement to work with SIMA Perú, a publicly-owned company that plans


Countries Must Do More to help Greece with Migrant Crisis - U.N. chief

Ban Ki-moon Secretary-General of the United Nations. Picture un.orgsgbiography.shtml

United Nations Secretary General Ban Ki-moon called on Saturday for countries to do more to help cope with Europe's migrant crisis, saying Greece could not manage on its own. Speaking in Athens before heading to the Greek island of Lesbos


Fincantieri to Build Qatari Naval Ships

The Qatari Ministry of Defense has chosen the Italian group for its national naval acquisition program   Fincantieri and the Qatari Ministry of Defense have signed a contract in Rome today for the construction of seven new generation units included in the national naval acquisition program


Total Explores Partnership for Port Arthur Refinery Logistics Assets

French oil and gas company Total said on Thursday that it was exploring a partnership deal for the logistics part of its 225,000 barrels-per-day Port Arthur refinery in the United States and had been in talks in the last year with potential investors.  


Oman Signs Pacts with Ship Classification Bodies

Photo:  Ministry of Transport and Communications

 Oman’s Ministry of Transport and Communications (MoTC) has signed agreements with three ship classification societies for small ships that do not abide by international treaties, said a report in Times of Oman.   The agreements were signed with the British (Lloyds Register of


Piraeus Port Shareholders Okays Sale to COSCO

Pic: Port of Piraeus

 The buy-out of the Greece's Piraeus Port by Chinese shipping giant COSCO is closer to completion, as shareholders approved a new concession agreement, reports Reuters.   Greece had already agreed in April to sell a 67 percent stake in Piraeus to COSCO for $415.7 million


Portugal, Turkey in Ship Repair Deals

 Photo: Besiktas Shipyard

 Shipyards in Turkey and Portugal have struck deals for major ship repair projects during Posidonia Exhibition at the Athens Metropolitan Expo in Greece.   Portugal’s Lisnave and Turkey’s Gemak, have also inked repair deals with fleet owners.  


Run aground, S. Korea's Shipbuilders Awaits Miracles

Photo: Daewoo Shipbuilding & Marine Engineering

 The 'Big Three'—Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries—hold $42.1 billion in loans between them. The firms closed out 2015 with combined losses of more than $6 billion, their earnings reports revealed.  






 
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