Singapore Technologies Engineering Ltd (ST Engineering) reports that its marine arm, ST Marine, has won two shipbuilding contracts worth about $60m from Swire Pacific Offshore Operations (Pte) Ltd (SPO), a wholly owned subsidiary of Swire Pacific Limited. These contracts to build and outfit two Anchor Handling Tug Supply (AHTS) vessels, measuring 92m by 22m, are in addition to the existing shipbuilding contract with SPO, announced in June 2011 for four AHTS vessels. For these contracts, SPO will supply a larger proportion of the major equipment for ST Marine’s integration and installation. Construction will commence in 2013. These two AHTS will adopt the latest Dynamic Positioning technology and will be Special Purpose Ship 2008 compliant. They will also have adequate tank capacities and clear deck space of about 650 sq. ft. for other offshore applications. When delivered in 2Q2014 and 3Q2014 respectively, the vessels will join SPO’s modern fleet supporting the latest generation of semi-submersible rigs operating in deep water and harsh environment.
Oceaneering International, Inc. won two contracts from BP Americas Production Company (BP) to provide vessel and remotely operated vehicle (ROV) services in the Gulf of Mexico (GOM) to support hurricane damage-related platform decommissioning operations. Under terms of each contract, Oceaneering will provide a dynamically positioned ROV support vessel equipped with three ROVs -- two work class and one observation class
In the first half of 2007 the Division won two major long-term contracts. A 25-year contract will be carried out in a joint venture involving the provision of 4 tugs for an LNG terminal in Italy. This contract will start contributing in the second half of 2008. In addition, a long-term contract was acquired in Angola. This contract will start contributing towards the end of 2007. Part of the activities in Gabon, which were carried out with an (aged) river fleet, were divested
Held on January 16, 2014 in London, Global freight forwarder and logistics services provider Damco has won two awards at the event of the British International Freight Association – BIFA Awards. The Damco U.K. team was chosen best in two categories - The Environment Award and Young Freight Forwarder Award. The jury chose Damco, as the team exhibited a range of initiatives that scope extends beyond their own organization
Kongsberg Maritime won two contracts for the delivery of ASSETT Engineering and Operator Training Simulators for the Valhall and Ula-Tambar fields in Norway. The simulators will be delivered in 2006. And will be integrated with the ABB Safety and Automation System. "ASSETT enables our customers to optimize their production and train their operators for these conditions," said Sales Manager for Process Simulation in Norway, Chris Ruigrok of Kongsberg.
Icelandic aluminum producer Nordic Aluminum (Nordural) has awarded a two-year contract to transport group Eimskip. Nordural officials did not release the value of the deal, but said that it would involve transport worth up to $13.8 million. The deal excludes aluminum ore imports. The contract involves the transport of aluminum from Iceland to Rotterdam in the Netherlands, the import of anodes used to produce aluminum from Neuss in Germany, and the export of anode remnants for recycling
McDermott Arabia Company Ltd. a subsidiary of J. Ray McDermott, S.A., has been awarded two turnkey contracts by Al-Khafji Joint Operations (KJO), to provide engineering, procurement, construction and installation services for KJO developments in the Arabian Gulf. The first contract is for an integrated wellhead jacket (IWJ) in the Al-Khafji oil field offshore Saudi Arabia. The second contract will see J. Ray support the expansion of KJO's loading facilities in the offshore Neutral Zone
While South Korean shipbuilders continue to enjoy another good year, representatives from three of the world’s largest yards reportedly are angling to focus on securing more ‘strategic’ orders to keep momentum, according to a report in the Korea Times. Korean yards are facing increasing pressure from Chinese shipbuilders, and to maintain its world lead the strategy includes a focus on these strategic orders
Power and automation technology group ABB won two orders in the third quarter to provide the waste heat recovery systems, each powered by a power turbine generator (PTG), for 14 new 8,800 TEU (twenty-foot equivalent unit) container vessels. The first seven post-panamax vessels will be built at Dalian Shipbuilding Industry Co. Ltd., (DSIC) and the other seven vessels at New Times Shipbuilding Co. Ltd., for China International Marine Containers Group Co. and Mediterranean Shipping Co. S
Samsung Heavy Industries Co Ltd said on Wednesday it won a 1.34 trillion won ($1.27 billion) order to build two drillships for an unnamed firm based in or near Australia. The South Korean shipbuilder said in a regulatory filing the contract was expected to be completed by June 2017. ($1 = 1052.3500 Korean Won) (Reporting by Joyce Lee; Editing by Stephen Coates)
European planemaker Airbus Group SE has forged a technology partnership with Oracle Team USA as this championship sailing squad prepares to defend its title in the 2017 competition for America’s Cup – which is the oldest international sporting trophy of the modern era (born in
South Korea will pump $9.5bn (11 trillion won) into state-run policy lenders reeling from huge losses on loans made to the beleaguered shipbuilding and shipping sectors to help them deal with further corporate distress, says FT.
South Korea's government and central bank will create an 11 trillion won ($9.50 billion) fund to support two state-run banks most exposed to the country's struggling shipping and shipbuilding firms. "Our key industries like shipping and shipbuilding are being aggressively caught up
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.
A majority of Hyundai Merchant Marine Co Ltd (HMM) bondholders have approved a debt-for-equity swap plan, South Korea's second-largest shipper said on Wednesday, paving the way for restructuring of the heavily indebted firm's finances. HMM, which had debts about 5.2 trillion won ($4
The lead creditors of two of South Korea's biggest shipbuilders have provisionally approved plans by Hyundai Heavy Industries and Samsung Heavy Industries to raise up to $4.2 billion in asset sales and cost cuts, people with knowledge of the plans said on Wednesday.
Although many builder countries struggled to win new orders in 2015, yards in the Philippines, Vietnam and Taiwan managed to increase their combined share of global ordering to its highest level on record, says Clarksons Research.
A team from International Maritime Organization (IMO)'s Marine Environment Division has won the best Portfolio Solution Award in the 8th International Waters Conference (IWC8) organized by the Global Environment Facility (GEF) in Negombo, Sri Lanka (9-13 May).
The DNV GL-led WIN WIN Joint Industry Project (JIP), which melds offshore wind with offshore oil and gas, shows that for suitable fields,finds that wind-powered water injection is technically feasible, capable of meeting performance targets and offers a cost-competitive alternative to
Leading marine coatings manufacturer, Hempel, announces - after only two and a half years on the market - its award winning innovative fouling defence product Hempaguard has now been applied as a full vessel coating to 500 ships.
DP World, one of the world's biggest port operators, and the Cypriot logistics and services company GAP Vassilopoulos Public have won two concessions to manage commercial activities at Limassol Port in Cyprus starting in January.
Hanjin's debts at 5.6 trln won at end 2015; company has been squeezed by low shipping margins. South Korea's Hanjin Shipping Co Ltd will ask creditor banks to restructure its debt, the country's largest shipper by assets said, in an attempt to weather a squeeze in margins from a severe industry
The cruise business is booming, and Evac said it has benefitted directly with 40 percent annual growth. The cruise business is the fastest-growing category in the leisure travel market, and demand is outstripping supply with average annual passenger growth of over seven percent since 1980
South Korean banking group KB Financial Group Inc is acquiring a controlling stake in brokerage Hyundai Securities Co Ltd for 1.25 trillion won ($1.09 billion) in a high-priced bet on diversification. About two-thirds of KB Financial's 2015 net profit came from its banking unit
Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered two jackup rigs to Mexican company, Grupo R. Built to Keppel's proprietary KFELS B Class design, the rigs, CANTARELL I and CANTARELL II, will be chartered to PEMEX