Signs New

CAE's Marine Division Signs $19M in Deals

CAE signed new contracts to provide integrated bridge systems (IBSs) for the United Arab Emirates' Baynunah-class corvettes, and a land-based test facility for the German navy's F-124-class frigates. CAE also signed a contract amendment for the Indian navy's landing ship program and finalized the contract for the German navy's K130 corvette program. In total, the new agreements and contract amendment are worth about C$19 million, with an option of C$4 million for two additional Baynunah corvette IBSs. The new contract with the German navy calls for CAE to provide an F-124 land-based test facility to support CAE's integrated machinery control system (IMCS) already aboard the navy's new F-124 class frigates. The F-124 IMCS is a comprehensive platform management system with advanced features, such as an on-board training system, battle damage control system, and an integrated controller for the gas turbine engine. CAE has concluded the contract with the ARGE K130 consortium (consisting of three shipyards: Blohm+Voss, Nordseewerke, and Friedrich Lürssen Werft) for the supply of IMCS with increased scope for five K130 corvettes, and a contract amendment for the control system for the Indian navy's landing ships.

Amclyde Wins Contracts

FGH Engineered Products Group, the equipment segment of Friede Goldman Halter, Inc., announced that its AmClyde unit has signed new contracts in excess of $13.5 million with customers in Freeport, Texas and Abu Dhabi, U.A.E. "AmClyde is very pleased to receive these key orders from our long-standing customer NPCC (National Petroleum Construction Company) of Abu Dhabi in the United Arab Emirates and our new customer Cabett Subsea Products, Inc

ITIC Warning for Surveyors on Indemnities and Waivers

The International Transport Intermediaries Club (ITIC) has warned its surveyor members, wherever possible, not to sign indemnities or waivers before they have been authorized by the shipowner to board a vessel. And, in the event that this proves to be impossible, they should sign only a wording authorized by ITIC. Writing in the latest edition of its annual publication, The Intermediary, ITIC warns that the surveyor may be asked to sign a disclaimer or waiver of all his rights to claim or

CNOOC Signs LNG Delivery Agreement

China National Offshore Oil Corp (CNOOC) has signed an LNG delivery agreement with Shell, Total and French energy company Suez. The company has signed the LNG spot delivery master agreement with the three companies. The agreement will lead these companies into China's LNG spot market, and make a reasonable profit for them. Australia's Santos signs production sharing contract in Vietnam Santos Ltd said it has signed a production sharing contract with the Vietnam Oil and Gas Corp

FGH Announces $10 Million in New Contracts

FGH Engineered Products Group, the equipment segment of Friede Goldman Halter, Inc., announced that its AmClyde unit has signed new contracts totaling over $10 million with several customers in the international offshore oil and gas sector. Dick Juelich, AmClyde President, stated: "We are pleased to receive these contracts for assisting with capacity upgrades and modifications to existing AmClyde heavy-lift marine cranes, as well as several other recent contracts

Austal Reports 2012 Revenue Up, Operating Profit Down

Shipbuilding & allied marine industries provider Austal publishes its financial report for year ended 30, June 2012. The Group operating profit after tax for the year was $11.043 million compared with the previous year of $21.890 million. Revenue has increased by $149.140 million over the previous year while operating profit before tax has decreased by $7.235 million. Extracts from the Chairman's Report: This year’s results reflect some of the challenges Austal faces

Qatar Rents 12 LNG Tankers

Qatari Ras Laffan Liquefied Natural Gas Company (RasGas-3) on Monday signed a 20-year contract with two tankers companies to rent 12 natural gas tankers starting on 2008. The agreement was signed by Qatari Minister of Finance and Board Chairman of RasGas-3 Yousef Hussein Kamal, Deputy Board Chairman Dr. Ibrahim Al-Ibrahim, and representatives of the foreign companies. A company source said that the company will receive the ships between March and August 2008

Bulyard Shipbuilding to Contruct New Vessels

Navigation Maritime Bulgare (Navibulgar) will receive three new ships after a contract for the construction of the ships was signed, Focus news agency reported. Bulyard-Shipbuilding Industry AD will construct the vessels. Prime Minister Sergei Stanishev was also present at the contract signing ceremony. The ships to be constructed will be cargo ships. They will be constructed respectively by December 2009, September 2011 and January 2012.

HK, U.K. Sign Double Taxation Legislation

Hong Kong signed an agreement with Britain to avoid double taxation on shipping, exempting owners of Hong Kong ships from paying tax levied on cargo taken up in Britain, and vice versa. It was signed in the territory by Hong Kong Secretary for Economic Services Sandra Lee and British Consul-General James Hodge. Lee said at the signing ceremony that the pact strengthened Hong Kong's status as the international maritime center in Asia.

Bahri Financed for Two General Cargo Ships

The National Shipping Company of Saudi Arabia (Bahri) will sign a financing agreement with Public Investment Fund (PIF) for 2 newbuildings Bahri is to sign a 'Murabaha Agreement' with Public Investment Fund (PIF). The cash will be used to finance part of the total construction cost of building two General Cargo vessels at Hyundai Mipo Dockyard in South Korea. The value of the financing contract is equivalent to Saudi Riyals 450,000,000 (Four Hundred and Fifty million)