Signs Two News

Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has signed a two years contract with Oman Oil Company Exploration & Production LLC (OOCEP) for the provision and management of the marine and offshore activities related to the tanker loading, via the single point mooring (SPM) offshore marine terminal including maintenance works, vessels, equipment and manpower. The Musandam gas plant, located on the west coast of the Musandam Peninsula…

LR CEO, Alastair Marsh, signed two Memorandums of Understanding (MoU) during Singapore Maritime Week. The first promotes research and development (R&D) and innovation, building upon strong existing collaborations (e.g. enhanced understanding of cargo liquefaction to increase vessel stability and safety, extreme wave impact to optimize time and cost of semi-submersible rig design) and extending into big data and intelligent systems for real time condition monitoring, unmanned systems and robotics for operations…

Teekay LNG Partners signs two, 5-year time-charter contracts with Cheniere Marketing to provide Liquefied Natural Gas (LNG) transportation services. The fixed-rate time-charter contracts will be serviced by the two 173,400 cubic meter LNG carrier newbuildings ordered by Teekay LNG in December 2012. The newbuildings are currently under construction by Daewoo Shipbuilding & Marine Engineering of South Korea and are scheduled to be delivered in the first half of 2016. These new ships will be constructed with M-type, Electronically Controlled, Gas Injection (MEGI) twin engines, which are designed to be significantly more fuel-efficient and have lower emission levels than other engines currently being used in LNG shipping.

Technip signs two agreements with State Corporation Russian Technologies (Rostec) for subsea equipment production. Technip and RT-Chemcomposite Holding Company, a Rostec subsidiary, signed a memorandum of understanding to express their intention to form a joint-venture (JV) company for subsea activities in Russia. Under the terms of this memorandum, the joint venture is a cooperation in the production of equipment for the oil and gas industry and in particular flexible composite pipes based on Technip’s technology. It allows to produce oil and gas at the depth of down to 3,000 meters and provides for speedy pipe laying operations. They will also intend to evaluate the possibility of establishing a research and development center.

Both organizations are bolstering their work in the areas of composite materials, cryogenics and medical instrument development. The mixed research unit will represent a joint investment of around €200,000 and the engineering firm SENER is building its new corporate building in Parc del Alba, close to the ASCAMM Technology Center. SENER and the ASCAMM Technology Center, a member of the TECNIO network, have signed two new strategic collaboration agreements in the areas of cryogenics and acoustics, respectively. These agreements are part of the strategy of the Joint R&D&I Unit created by the two organizations a year ago, the goals of which are implementing research and development projects and developing technology and innovation in various technological and industrial fields.

Eastern Shipbuilding Group, Inc. Signs Two Option HOSMAX310 OSV’s with Hornbeck Offshore Services, Inc. Eastern Shipbuilding Group, Inc. has announced that Hornbeck Offshore Services, Inc. has exercised two of its twenty-four option, 302’x64’x26’ HOSMAX310 Offshore Support Vessels. Eastern is now under contract to construct ten of these vessels for Hornbeck. The two additional option vessels are being built to the STX SV310 design from STX Marine. These vessels have been designated as the HOSMAX series by Hornbeck and are  USCG…

ABS Nautical Systems has signed two new contracts in Greece with Petrochem General Management S.A. and Opera S.A. for use of its NS5 Enterprise software. Both companies will take advantage of the ABS Newbuild Program which offers free software to ABS-classed vessels built after 1 January 2009. Petrochem General Management S.A. will implement the Hull Inspection module on seven of its chemical carriers. The Piraeus-based company was looking for a more user-friendly software solution…

DryShips Inc. (NASDAQ: DRYS) announced that its subsidiary Ocean Rig UDW Inc. has entered into firm contracts with Cairn Energy PLC for the Leiv Eiriksson and the Ocean Rig Corcovado for a period of approximately 6 months each. The total contract value including mobilization for the Leiv Eiriksson is approximately $95m. The mobilization period will start in direct continuation from the agreed release date from Petrobras. The total contract value including mobilization and winterization of the Ocean Rig Corcovado is approximately $142m. George Economou, Chairman and Chief Executive Officer of DryShips commented:  " Following the signing of these contracts we are only left with one open drillship, the Ocean Rig Mykonos, that delivers in the fourth quarter of 2011.

Paragon Shipping Inc. has entered into new two-year time charter contracts for the Calm Seas and the Coral Seas.  Both vessels have been forward fixed on period time charters for 23 to 26 months at a gross daily rate of $15,775 per vessel with Intermare Transport GMBH. Michael Bodouroglou, Chairman and Chief Executive Officer of Paragon Shipping, commented that the contracts are scheduled to commence between December 2009 and April 2010.

Eagle Bulk Shipping Inc. has signed contracts with IHI Marine United Inc., one of Japan's shipyards, for the construction of two Future-56 class Supramax vessels. These 56,000 deadweight ton vessels have a contract price of approximately $33.5 million each and are expected to be delivered in January and February of 2010, respectively. Upon delivery of these vessels, Eagle Bulk's fleet will include 18 vessels, 14 of which will be Supramax-class. The company also announced that it has amended its existing revolving credit facility from its sole lender, Royal Bank of Scotland plc, to increase the borrowing capacity from $450 million to $500 million. The financing of the new vessels will not affect the Company's quarterly cash dividend payout.