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Two Years

Transocean Inc.’s Nautilus Receives Two-Year Contract Extension

Transocean Inc. announced that a subsidiary of Royal Dutch Shell (Shell) has awarded a two-year contract extension for the company's Fifth-Generation moored semi-submersible rig Deepwater Nautilus. The two-year contract extension is expected to commence in December 2006, in direct continuation of the rig's current contract. Revenues of approximately $310 million could be generated over the two-year extension period, excluding revenues for mobilization, demobilization and client reimbursables. The Deepwater Nautilus is currently operating for Shell Exploration and Production in the U.S. Gulf of Mexico and is expected to continue drilling operations for the remainder of 2005 and into 2006 before requiring an estimated 60 days of out-of-service time during 2006 to complete repairs of all remaining storm-related damage, which pertains mainly to the rig's mooring system. The rig, which entered service in 2000 following its construction in Ulsan, South Korea, is capable of operating in water depths of up to 8,000 ft.

Atwood Oceanics Announces Vicksburg Contract

Atwood Oceanics, Inc. (a Houston based International Offshore Drilling Contractor) said that the VICKSBURG (owned and operated by its wholly owned subsidiary Atwood Oceanics Pacific Limited) has been awarded a two-year contract by Chevron Overseas Petroleum (Thailand) Limited ("Chevron") which will immediately follow Chevron's current eight (8) month drilling commitment offshore Cambodia. The VICKSBURG is presently working in Malaysia under drilling commitments with dayrates of $82,000 to $87

Oil Price Just Down From Two-Year Highs Set Last Week

Oil markets placed another bet on tightening supply, supporting prices in the vicinity of 22-month highs touched last week. Benchmark Brent for September hit $20.87 a barrel today, just 13 cents off a Friday peak of $21 that was the crude's highest value in almost two years.

IOS Announce Charter Contracts

P/R International Offshore Services ANS (IOS), which is a 50/50 joint venture between Farstad Shipping ASA and P&O Australia, has contracted two anchor handling support vessels at the Simek AS yard in Norway. Delivery of the vessels will take place in March and July 2003. The vessels are a new type of UT 712 of 12,240 bhp with DP and a double drum 370 tonne winch for employment in international markets. IOS has also entered into a two year time charter with Phillips in Australia for the

Canada Invests in Nova Scotia Small Craft Harbours

Photo courtesy of Halls Harbour NS

The Government of Canada will invest $10.2 million in maintenance, repair, construction and dredging projects at small craft harbours in Nova Scotia, as part of a country-wide $63 investment in core fishing harbours. “Small craft harbours play a vital role in securing the prosperity of our coastal communities in Nova Scotia,” said the Honourable Gail Shea, Minister of Fisheries and Oceans. “The investment announced today shows our Government’s commitment to providing

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

  German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said. Chief Executive Frank Asbeck justified his intention by saying Chinese panel makers would still receive unfair state subsidies, according to the magazine. It was based on this reasoning that the German solar energy pioneer succeeded in getting the duties imposed in the first place.

Aker Maritime Aims For Savings Via Restructuring

Norwegian offshore services firm Aker Maritime plans to save $62 million within two years through a restructuring program that calls for Aker to merge four of its business divisions into two starting in January. The company plans to set up a deepwater firm in Houston, Texas, and a North Sea firm based in Stavanger, Norway to pool the work previously done by four divisions. The changes would allow for improved competitiveness and cost cuts, resulting in a yearly savings, officials said.

BP Vietnam Awards PTSC/Canyon Two-Year Vessel / ROV Contract

PTSC Production Services and Canyon Offshore have entered into a two-year contract with BP Vietnam to provide a DP Vessel, Remotely Operated Vehicles, Survey and Positioning, and engineering solutions to support BP’s operations offshore Vietnam. Under the terms of the contract Canyon Offshore in conjunction with Petroleum Technical Services Company (PTSC), a division of Vietnam Oil and Gas Corporation, will mobilize Scorpion 25

Koike Aronson - Buyer Financing & Warranty

At a time when many industrial operators are having trouble securing credit, Koike Aronson/Ransome Inc. has joined with a major capital equipment lender to offer Equipment Leasing Financing to Koike’s customers in the U.S. and Canada. Koike Aronson’s business units and field representatives now have the ability to provide their customers with an indicated monthly payment, using a $1 buyout or a 10% purchase option, with terms of 36, 48 or 60 months.

Siem PSV Chartered by Petrobras

Siem Atlas (courtesy Siem Offshore)

Siem Offshore and Petrobras have entered into a charter agreement for the Platform Supply Vessel (PSV) Siem Atlas. The charter period has commenced and is for a firm period of two years. Petrobras has an option to extend the charter for two additional years, upon terms to be mutually agreed.   The gross contract value for the firm period is approximately $26 million.

Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco, and Concordia Maritime's share amounts to 50 percent. The contract, which comes into effect at the end of November 2015

Groundbreaking Ceremony for Seaspan's Vancouver Office

Jonathan Whitworth, Seaspan CEO. Courtesy Seaspan

  Seaspan hosted a groundbreaking ceremony today to announce it has officially started construction on a new head office in North Vancouver. The 7,800 square metre (84,000 square foot) corporate headquarters, scheduled for completion in late 2017

IMO Assembly Elects New 40-Member Council

Photo: International Maritime Organization (IMO)

 The Assembly of the International Maritime Organization has elected the following States to be Members of its Council for the 2014-2015 biennium:    Category (a) 10 States with the largest interest in providing international shipping services: China, Greece, Italy, Japan, Norway

Marintec China Indicates Growth

Image: UBM Maritime Events

 Marintec China exhibition has grown by 14% since its last edition to cover 80,000 sq m with over 2,000 exhibiting companies  from 34 countries  defying the talk of a slowdown in China and its hard-hit shipyards.   The two years since the last Marintec China event have not

CIMIC Appoints Valderas as Dy CEO

Marcelino Fernandez Verdes when he returns to Spain

  CIMIC Group today announced the appointment of Adolfo Valderas as Deputy Chief Executive Officer. Mr Valderas is the current CIMIC Group Chief Operating Officer. CIMIC Executive Chairman and Chief Executive Officer Mr Marcelino Fernández Verdes said: “Adolfo has achieved

BMT – DoT Partnership Extended

BMT JFA Consultants has completed number of projects  courtesy BMT JFA

  BMT JFA Consultants, together with sister company BMT Oceanica, subsidiaries of BMT Group (BMT), have announced that the Western Australian Department of Transport (DoT) has taken up the Contract option to extend its current contract for a further two years.  

Implementation of AIS at Singapore Port

courtesy MPA

  Currently, all power-driven harbour and pleasure craft are required as a condition of their harbour or pleasure craft licences, to be fitted with either an IMO-compliant AIS Class A/B transponder or a MPA-approved HARTS transponder.

Crowley Approved to Import Canada-sourced LNG

Photo: Crowley

Crowley Maritime Corp. ’s petroleum distribution group has been granted approval by the U.S. Department of Energy (DOE) and the National Energy Board – Canada (NEB) to import Canadian-sourced liquefied natural gas (LNG) for supply

Bestobell Secures High Pressure Valve Orders

Photo: Bestobell Marine

Bestobell Marine has secured two orders to supply its new range of high pressure globe and check valves to be used in high pressure fuel gas systems on board ships.   The valves will be used within the pump and vapouriser skids for six LNG carriers that are being built at DSME shipyard and

Peru to Cut O&G Royalties to Counter Price Slump

Peru is reducing royalties on oil and gas production to about 5 percent on average from the current 20 percent in order to encourage exploration amid slumping prices, the government said Wednesday.   The smaller take should help Peru boost interest in new oil contracts that will come up for

Ship Operating Costs to Rise Over Next Two Years

Drewry - total operating cost index (2000=100)(Photo: Drewry Maritime Research)

The cost of operating cargo ships is forecast to rise over the next two years after falling in 2015, according to the latest Ship Operating Costs Annual Review and Forecast 2015/16 report published by global shipping consultancy Drewry.  

Terminal Project to Allow 10,000 TEU Ships in the Black Sea

Construction of a deepwater berth at the NUTEP terminal in the Black Sea port of Novorossiysk has commenced. (Photo: Ruscon)

The construction of a deepwater berth at the NUTEP terminal in the Black Sea port of Novorossiysk will allow Russia to offer regular year-round ice-free calls for vessels up to 10,000 TEU for the first time. NUTEP, a subsidiary of DeloPorts and sister company to multimodal transport specialist

Manila asks Japan for South China Sea Patrol Boats

Japanese Prime Minister Shinzo Abe may consider a request from the Philippines for large coastguard ships to patrol the disputed South China Sea, after the two allies reached a deal on defence equipment and technology. China has overlapping claims with Brunei, Malaysia, the Philippines

Port Hedland to Enhance Capacity

Port Hedland, Australia Photo MUOA

  Modelling work over the past two years by the Pilbara Ports Authority (PPA) has identified opportunities to increase the shipping capacity in Port Hedland's channel over the next three years to as much as 577 million tonnes a year.

APM Terminals Opens Aqaba Logistics Village Expansion

Aqaba Logistics Village Expansion Courtesy APM Terminals

  APM Terminals, with local Jordanian partner Kawar Group, officially opened the expanded Aqaba Logistics Village (ALV) on November 12th, with a formal ceremony attended by Jordanian Prime Minister His Excellency Abdullah Ensour, the Minister of Transport His Excellency Ayman Hatahet and

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