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 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.
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
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, 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 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
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 & 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.
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.
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
French state holds 33 pct of STX France; acquisition could boost Fincantieri's position in cruise shipbuilding. A South Korean court approved on Tuesday Italy's Fincantieri as the preferred bidder to buy shipbuilder STX France, helping Fincantieri move closer to a deal that could boost its
U.S. President-elect Donald Trump on Tuesday named Robert Lighthizer, an official in the Reagan administration and harsh critic of China's trade practices, to be his chief trade negotiator, responsible for better deals aimed at reducing U.S. trade deficits.
Cuba and the United States agreed on Monday to jointly prevent, contain and clean up oil and other toxic spills in the Gulf of Mexico, as they rush to conclude deals before President-elect Donald Trump takes office. U.S. Charge d'Affaires Jeffrey DeLaurentis, upon signing the agreement
GAC UK has signed a three-year terminal and marine services deal with Valero Logistics UK Ltd. Under the agreement, from 1 February 2017, GAC UK will manage and support the discharge of 12-14MT of clean petroleum products each from up to 180 tankers a year at the ports of Cardiff and Plymouth
Hutchison Ports signed an MOU with the Government of Ukraine for the development of Chornomorsk Port on the Black Sea. The MOU was signed by Clemence Cheng, Managing Director Hutchison Ports Europe, and Volodymyr Omelyan, the Ukrainian Minister of Infrastructure during a visit by the Minister
Australia and France are to sign a deal on Tuesday allowing French naval contractor DCNS to build a new fleet of submarines for Australia, said Australia's defence minister, in a deal worth 50 billion Australian dollars ($36.4 billion). "The contract will set out the legal framework under
DCNS Australia celebrated the founding of its Australian headquarters in Keswick, Adelaide, which will be dedicated to delivering the Future Submarine Program. The ceremony was attended by Malcolm Turnbull, Prime Minister of Australia, Minister for Defense Industry, Christopher Pyne MP
South Korean ocean carrier Hanjin Shipping Co. signed a deal to sell its stake in the U.S. port operator that runs Long Beach, Calif.’s, biggest container terminal to Mediterranean Shipping Co. (MSC), reports WSJ. Hanjin, which for bankruptcy protection in August
Australia’s lead management agency for the Great Barrier Reef will receive a $124 million funding boost over the next 10 years from the Turnbull Government. The funding commitment for the Townsville-based Great Barrier Reef Marine Park Authority is great news for the North Queensland
The Port of Long Beach’s Harbor Commission on Wednesday approved an agreement to replace the bankrupt operator of its largest cargo terminal. The Long Beach Board of Harbor Commissioners greenlighted the move by a subsidiary of Mediterranean Shipping Co
South Korea stepped up a push on Friday to encourage its oil and gas companies to invest in U.S. shale gas projects, amid expectations that more opportunities will arise under a Trump administration. Asia's fourth-largest economy is the world's second-largest buyer of liquefied natural
The chief executive officers of Islamic Republic of Iran Shipping Line (IRISL) and Kazakhstan’s KTZ Express – a subsidiary of the country’s national railways company- signed an agreement for establishing a joint company.
Following the announcement on 2 September 2016 that EXMAR and Vopak had started exploratory discussions on floating LNG storage and regasification, an important milestone has been reached being the signing of an agreement on the acquisition of the FSRU business of EXMAR by Vopak and the possible
Oil jumped 1.7 percent Tuesday, continuing its year-end rally with support from expectations of tighter supply once the first output cut deal between OPEC and non-OPEC producers in 15 years takes effect on Sunday. U.S. crude prices have surged 25 percent since mid-November
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) and the Industrial Development and Renovation Organization of Iran (IDRO) have signed an outline agreement to cooperate on developing the shipbuilding Industry in Iran.