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Reef Subsea Headed by New CEO
Reef Subsea today announced that it will undergo a strategic group-wide restructure. Duncan Macpherson, who previously held the role of Managing Director of Reef Subsea Norway, has been promoted as the CEO of Reef Subseawith the responsibility of implementing the new strategy. Reef Subsea offers a powerful combination of integrated subsea services to the oil and gas and offshore renewables markets.
Jee Appoints Business Development Director
Jee Ltd., an independent multi-discipline subsea engineering and training company, has appointed Nigel Ross as Business Development Director. Based in the company’s Aberdeen office, Mr. Ross will be responsible for ensuring the business continues to meets its ongoing strategy for growth by further developing relationships with key customers and seeking new business opportunities to support long-term growth plans. Mr.
Jaya Wins $60 million in Long-term Charters
Offshore energy services provider Jaya Holdings Ltd. announced that the Group has signed contracts for three of its four newbuild platform supply vessels (PSVs)…
Tankship Overcapacity Blights the Market
With seasonally weak demand in the second quarter, the short-term view for freight rates does not look positive finds Drewry. Global oil demand declined by 1.0%…
Damen Dredger Starts Something in Africa
The new Damen CSD250 dredger delivered to Nigeria has already started on making its own pond, eventually to become a canal. The CSD250 has started creating a canal, which will flow eventually in the Benin River, and through to the Atlantic Ocean. The canal is initiated by Ossiomo Investments, the owner of the industrial park. On the park a fertilizer plant will be constructed, amongst other petrochemical plants.
Hellenic War Risks Club Reduces Member Premiums
Members of the Hellenic War Risks Club will be paying 50% less annual premium for their war risks insurance following a decision by Club Directors to waive the second…
American Climate Project Invests in Kongsberg Technology
Following a contract signed on May 15, 2013, echosounders from Kongsberg will play a part in the American Ocean Observatories Initiative (OOI), for the monitoring of subsea life along both U.S. coasts. OOI is a cable-based array of scientific sensors designed to monitor the marine habitat. Everything from fish and plant life, to chemical, physical and geological changes will be measured. “Given the global climate changes…
Deepwater Jack-up Rig Contract for PPL Shipyard, Singapore
Sembcorp Marine's PPL Shipyard secures US$220.5-million contract to construct a jack-up rig for Bot Lease Co. BOT Lease Co., Ltd. is a leasing company of The Bank…
Unique Hydra Signs Agency Agreement with EIVA
Unique Hydra, a Unique Maritime Group Company, an integrated turnkey subsea and offshore solution provider, recently signed an agency agreement with EIVA to represent its products and services in the southern part of Africa. Based in Cape Town, South Africa, Unique Hydra is a manufacturer and supplier of marine and diving equipment to the oil and gas industry. Unique Hydra personnel have substantial experience in marine engineering…
Bangladesh Yard to Build Tanzanian Ferry
Western Marine Shipyard to build a passenger-carrying catamaran ferry for the Tanzania Ministry of Transportation. The deal was signed by the Managing Director of Western Marine Shipyard Mr. Sakhawat Hossain and the Director of JGH Marine, Mr. Niels Holstein. (JGH Marine is the Danish Company which received notification from Tanzania of the contract award). The vessel will have a capacity for 300 passengers. The ship will be 38m in length with a service speed of 20 knots.
Dubai Maritime City to Join UAE-Korea Forum
Dubai Maritime City's team led by Chairman of Drydocks World & Maritime World, to participate in the UAE-Korea Economic Partnership Forum 2013. The event is supported…
Duma Looks Deep Down for Energy
US's Duma Energy Corp. says it has received new 3D seismic data in its search for deeper oil reserves in its Galveston Bay producing fields. This new data, which…
Hermes Datacomms Wins Two-year African Support Contract
Hermes Datacommunications International Ltd., a company providing Wide Area Network communications to the upstream oil and gas industry, won a contract to support Tullow Oil plc. for their operations in Africa. The 24-month deal sees the company use its pan–African satellite platform to provide a connection from Tullow Oil’s data center in London to its Ethiopia office in Addis Ababa, extending core services to the continent and growing the current services in Kenya.
Ian C. Strachan Elected Transocean Chairman
The Board of Directors of the company elected Ian C. Strachan to serve as Chairman of the Board effective May 18, 2013. Mr. Strachan replaces J. Michael Talbert…
Harkand Set to Acquire Veolia Marine Services
Harkand, the international subsea inspection, repair, maintenance and light construction group, announced an agreement to acquire the main assets and business of Veolia Marine Services (VMS). The acquisition will add 150 onshore and offshore staff, three dynamically-positioned multi-purpose vessels (MSV), and six work-class remotely operated vehicles (ROVs) to Harkand’s growing workforce and fleet.
Korean Shipyard Delivers Container Ship ‘Hanjin Argentina’
The 3600 TEU container ship, built under the supervision of Navgathi Marine by Hyundai Sambo delivered to Pacific International Lines. Hanjin Argentina is the third of a series of four such vessels ordered by Pacific International Lines of Singapore from the S. Korea shipbuilders. Navgathi Marine is providing the new building supervision services to eight PIL vessels under construction at Hyundai Samho…
GSI Completes Two Major Oil and Gas Contracts
Gulfstream Services Inc. (GSI), provider of equipment to the international oil and gas industry, has successfully completed two six figure decommissioning contracts with oil and gas service companies, Helix Well Ops U.K. and Dof Subsea. The Helix contract was part of the BP North West Hutton decommissioning project where GSI tools were used to remove 10- and 20-inch pipelines from the seabed. GSI’s…
Global Freight Rates Plunge, Report Finds
Average global freight rates have fallen to a 15-month low, according to Drewry’s new online Container Freight Rate Insight. Drewry’s Global Freight Rate Index fell 12% in April to reach its lowest level since February 2012, when container shipping was still recovering from the last ocean carrier price war. The Index, which is a weighted average of freight rates across the 600 trade routes covered by Drewry’s Container Freight Rate Insight…
CMA CGM Launches Three New Joint Services, Restructures Routes
In view of continuous challenging trading conditions effective from July 2013 CMA CGM, Maersk Line, Hamburg Süd, CSAV, China Shipping Container Lines and Hanjin will restructure their services between the Far East and South America East Coast by launching three new joint services. -ASAS 2/NGX 2/SEAS 2/ASAX 2: Currently operated by Maersk Line, Hamburg Süd, CSAV, CMA CGM and China Shipping Container Lines. -SEAS 1/ASAX 1: Currently operated by CSAV, CMA CGM and China Shipping Container Lines.
North American Oil Supply Shocks Markets
The supply shock created by a surge in North American oil production will be as transformative to the market over the next five years as was the rise of Chinese demand over the last 15, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report (MTOMR). The shift will not only cause oil companies to overhaul their global investment strategies, but also reshape the way oil is transported, stored and refined.