Keppel to Deliver First North Sea FPSO
Keppel Offshore & Marine (Keppel O&M)'s wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to Armada Kraken Pte Ltd (Armada Kraken), a wholly owned subsidiary of Bumi Armada Berhad (Bumi Armada). The naming ceremony of the FPSO, Armada Kraken, was held at Keppel Shipyard yesterday. Armada Kraken is a harsh…
SOS from Hanjin Shipping
The creditors' extended help is crucial for survival of Hanjin Shipping Co as its negotiations with owners of chartered ships over a cut in leasing rates and to postpone debt repayments to foreign creditors made significant progress, says the cash-strapped firm. Creditors of Hanjin Shipping, led by the state-run Korea Development Bank, have threatened to put the shipper under receivership, saying its fresh self-rescue plan is far shy of demands.
STX to Slash Jobs, Sell Yard
To stay above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ. The country's fourth largest shipyard filed for receivership in May. The court has been supervising the firm’s rehabilitation since June. STX told a bankruptcy court in Korea that it has hired PricewaterhouseCoopers to help it sell STX France…
NASA May Send Submarine to Titan
NASA has unveiled plans to send a submarine into the depths of the largest ocean of Saturn's biggest moon, Titan in a bid to explore the depths of its largest ocean. The aim to find the chemical composition of the largest ocean of the moon, Kraken Mare and search for signs of life. Jason Hartwig, a NASA cryogenics engineer has disclosed the idea while he was giving a presentation at NASA Innovative Advanced Concepts Symposium in Raleigh, reports inverse.com.
Michelle Obama Sponsors Attack Submarine
General Dynamics Electric Boat has delivered to the U.S. Navy an attack submarine that is sponsored by first lady Michelle Obama and will be named for her home state, reports AP. The submarine will become the USS Illinois (SSN 786) after more than five years of construction. The first lady, who's from Chicago, will be involved in the life of the submarine and the lives of its sailors and their families.
Indian Cargo Ship Sinks Off Oman
An Indian cargo ship loaded with vehicles and food supplies destined for Yemen sank on Saturday off the coast of Oman but without loss of life, Oman’s ONA state news agency reported. The ship, heading to Yemen's Al Mukalla port after it was loaded in Sharjah in the UAE, sunk off the coast of Jalan Bani Bu Ali province. Omani fishermen and police rescued all 11 crew on board. The vessel was carrying 69 vehicles, foodstuff, tyres and engine oils.
Croatia’s Jadrolinija to Buy New Passenger Ship
The Croatian ferry operator has started implementing its development strategy, and one of the main elements of the strategy is further development of the fleet. RMDC said the ship will carry 2,000 passengers and 206 cars, or 85 cars and 20 trucks. Passenger spaces located on two decks will include a restaurant, bars, buffet, childrens’ playroom and designated space for passengers on the open deck. “We and Croatian islands need such a ship”, said Klanac.
Indian Warships Visit Port Victoria
In a demonstration of India’s commitment to its ties with Seychelles and maritime security in the Indian Ocean Region, Indian Naval Ships Kolkata, Trikand and Aditya under the Command of the Flag Officer Commanding Western Fleet, Rear Admiral Ravneet Singh,NM have arrived at Port Victoria on a two day visit, says a government press release. INS Kolkata is commanded by Captain Rahul Vilas Gokhale, INS…
MV WERFTEN, Foreship Sign Design Agreements
MV WERFTEN signed a letter of intent with the engineering company Foreship in Stralsund today. The agreement includes parts of the basic design as well as design, purchasing and production assistance of the “Endeavor” class luxury expedition yachts. The 20,000 GT cruise vessels will be built at MV WERFTEN Stralsund, with production starting late 2017 and deliveries from spring 2019. “We are excited to build a series of the world's first purpose-built expedition yachts…
NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands
The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically found in the vicinity of the Singapore Botanic Gardens. Located in the upcoming Learning Forest extension, the restored 1.8 hectare forest wetland will enhance the biodiversity found there, and for the very first time, provide educational opportunities for the public to access and experience a freshwater forest wetland habitat…
Zumaia Offshore Acqires MPP Workboat Aitana B
In April 2016 Zumaia Offshore, S.L., leading workboat owner and operator based in the Basque Country, took delivery of the Cummins-powered MPP workboat “Aitana B” from Neptune Shipyards in the Netherlands. At 27 by 12-meters with a three-meter draft it is one of the largest models of Neptune’s Eurocarrier series of workboats, which are specifically designed for dredging assistance, port construction & maintenance…
BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project
BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development. The Big 3 oil companies have told state lawmakers that the proposal on the table to pipe, liquefy and export North Slope natural gas is uneconomic and they won't move forward as partners. However, they said they would sell their natural gas to a state-developed project if it comes to fruition, which is more in doubt than ever.
Skaugen Goes to Red Again
Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities for long routes the petrochemical market. The gas carrier owner reported profit before and after tax of minus $ 5.1 million (loss) in Q2 2016. The same quarter a year ago profit before and after tax minus $ 0.5 million. Freight revenues amounted to $ 18.5 million in this year's 2nd quarter, against 15.7 million in last year.
Kongsberg Performs Well in Q2
Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends, but strong growth in earnings. Kongsberg had operating revenues of 4.13 billion Norwegian crowns ($502.69 million) versus 4.21 billion crowns seen in Reuters poll, Q2 EBITDA 515 million crowns (Reuters poll 403 million crowns), resulting in a margin of 12.5 per cent.
Maersk Line's Innovative Smart Reefers
Have you heard about Maersk Line's smart reefers that can listen and talk? Cutting edge technology that reduces risk in customer supply chain, claims Maersk Line. "We’re always looking for ways to improve cargo care on behalf of our customers. As the world’s biggest container shipping company, we play an important role in cold chains all over the world, and our care means your cargo has a safe passage from field to fridge," says a statement in the company website.
Hapag-Lloyd Shareholders Okays Merger with UASC
Hamburg-based ocean carrier Hapag-Lloyd said its shareholders approved all items on the agenda at Annual General Meeting, mainly the share capital increase needed for combination with United Arab Shipping Co (UASC). "The main matter regarded creating the capital conditions required for the planned merger with the Arabian liner shipping company UASC. The shareholders therefore approved the creation of new authorised share capital.
Onshore Spending on the Cusp of Recovery?
DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will see the start of a barren period for the offshore OFS and OFE sectors. In line with previous editions of the report, a significant drop in project sanctioning, coupled with low rig dayrates, will see annual OFS expenditure average $49 billion (bn) over 2016-2020, while OFE expenditure will decline from $69bn to $43bn over the same period.
White House: Iranian Ships' Actions in Gulf Increase Risk of Miscalculation
Actions by Iranian vessels in several encounters with U.S. warships in the Gulf this week are cause for concern and increase risks of miscalculation, the White House said on Friday.
Rickmers Holding, E.R. Capital Drop Merger Plan
Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities. For many years the companies have…
C-Job Designs Flettner Freighter for Switijnk
The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile. The contract follows the substantial media attention for the 4,500 DWT Flettner Freighter (the FF4500) which C-Job Naval Architects developed as part of the European Union Interreg project SAIL. Taking the project name of FF8000, the design will be for a dry cargo ship with 8,000 ton deadweight.