BAE Systems Plc warned that future employment prospects at its Govan shipyard near Glasgow are wholly dependent on new orders being won. The group was announcing completion of the $3.6 million rescue acquisition of Govan from Norway's Kvaerner agreed in July. BAE has agreed a 20 year lease of the land and buildings in a joint deal with port services group Clydeport Plc, which will own the site.
Ithaca Energy Inc. announced completion of flow test operations on the third development well on the Stella field, with the well achieving a flow rate of 12,492 barrels of oil equivalent per day. Well 30/6a-B1Z (“B1”) is the third development well drilled on the Stella field. The well was drilled to a total measured depth subsea of 16,185 feet, with a 2,147 foot gross horizontal reservoir section completed in the Palaeocene Andrew sandstone reservoir
Genco Shipping & Trading Limited announced that it has agreed to acquire six drybulk vessels with an average age of approximately 2 years from affiliates of Evalend Shipping Co. S.A. for an aggregate purchase price of approximately $336m. The acquisition is subject to the completion of customary additional documentation and closing conditions. Genco plans to finance the acquisition through borrowings under its $1.4b revolving credit facility.
Neptune Orient Lines sells APL Logistics to Kintetsu World Express Neptune Orient Lines Limited (NOL) announced that it has completed the sale of its logistics business, APL Logistics Ltd (APLL), to Kintetsu World Express, Inc. (KWE) for an aggregate purchase price of $1.2 billion, subject to adjustments for the net cash and net working capital of APLL and its subsidiaries as at the completion date. NOL said it will announce the final purchase price after such adjustments
PortMiami Deep Dredge gives businesses the infrastructure necessary for growth The completion of the PortMiami deep dredge project, which deepens the port’s main harbor channel from 42 feet to a depth of 52 feet to accommodate Post-Panamax ships, was announced by Florida Governor Rick Scott. Of the total $220 million cost for the channel deepening, the state of Florida invested $112 million and Miami-Dade County invested $108 million
DryShips Inc.announced that it has completed the previously announced registered direct offering of 100,000 newly designated Series E-1 and E-2 Convertible Preferred Shares and Warrants, in which the Company raised gross proceeds of approximately $100.0 million since commencing the offering, pursuant to the prospectus supplement filed on November 17, 2016. Following the completion of the offering, the Company has approximately 33,806,733 common shares outstanding
Northrop Grumman Corporation announced that the nation's newest and most advanced nuclear-powered aircraft carrier, Ronald Reagan (CVN 76), has successfully completed acceptance sea trials. The Reagan is the ninth Nimitz-class carrier built by Northrop Grumman's Newport News sector. The acceptance trials are conducted with representatives of the U.S. Navy Board of Inspection and Survey for testing and evaluation of the ship's systems and performance.
Canyon Offshore, Inc., has announced that it has been awarded drill support contracts on board the drilling rig Rowan Midland for its new electric Work Class ROV, Quest #3. In June, Canyon mobilized the new built Quest #3 on board the rig for Energy Resource Technologies, Inc. (ERT) to support ERT’s re-entry well work on East Cameron block 374. Upon completion of the ERT contract, Canyon will provide ROV services to Remington Oil & Gas at East Cameron 377 to support drilling and completion
Spirit of New Jersey Schedules $1.5 Million Renovation for Completion in Spring 2012. Entertainment Cruises, the largest harbor cruise company in the United States, today announced that plans are underway for a $1.5 million renovation of the Spirit of New Jersey, scheduled for completion in time for the spring/summer season. It will feature quality improvement initiatives aimed at modernizing the vessel and providing a fresh and trendy dining and entertainment experience.
The Vitol Group and Sargeant Marine, an asphalt trading, storage and transportation business, announced that Vitol will acquire a 50 percent interest in Sargeant Marine for an undisclosed sum. Sargeant Marine comprises a global trading operation, which distributes asphalt to customers worldwide, and two terminals in Rotterdam, Netherlands and Constantza, Romania. On completion, it is anticipated that the new, combined business will trade circa 1
The first set of international requirements for onboard lifting appliances and winches are expected to be finalized during this week’s meeting of the Sub-Committee on Ship Systems and Equipment (SSE). The draft amendments to SOLAS as well as any necessary related
The French state is considering nationalising the Saint-Nazaire shipyards before selling it to new investors if no deal can be reached with Italian shipbuilding group Fincantieri, Le Monde newspaper said on Friday. Shipbuilders MSC and Royal Caribbean have already expressed an interest
ABS has broken ground on its new global headquarters. Anchoring the CityPlace 2 development, the new headquarters will be located near the intersection of I-45 and the Grand Parkway in the Houston area. “This is an important milestone in our 155-year-young history and
INS Chennai, a P 15A Guided Missile Destroyer of Indian Navy, was dedicated to the city of Chennai in the presence of Edappadi K Palaniswami, Chief Minister of Tamil Nadu, Dr D Karthikeyan IAS, Commissioner of Chennai and Vice Admiral HCS Bisht, Flag Officer Commanding-in-Chief
The Sub-Committee on Ship Design and Construction (SDC) meets for its fourth session this week (13-17 February). Key topics on the agenda include the expected finalization of draft explanatory notes to the SOLAS chapter II-1 subdivision and damage stability regulations and
Foss Maritime said its third of three new Arctic Class tugs being built at the Rainier, Ore. shipyard is nearing completion and expected to enter service later this year. The tug Nicole Foss is ice class D0, meaning the hulls are designed specifically for polar waters and are
Lamprell announces the completion of construction on a further jackup drilling rig, the “Al Hudairiyat”, and its delivery to Abu Dhabi’s National Drilling Company (“NDC”), within budget and as scheduled. Completion and delivery of the jackup rig was marked at an
Austal has successfully completed the Detailed Design Review (DDR) for the A$306 million Pacific Patrol Boat Replacement (PPB-R) Project on time and in accordance with the contracted schedule. A key element of the Commonwealth’s continuous naval shipbuilding strategy
Mitsui O.S.K. Lines, Ltd. today announced the completion, on Friday, February 10, of this year’s Project Based Learning (“PBL”) program at the University of Tokyo Graduate Program for Mechanical Systems Innovation (GMSI), Research and Education Consortium for Innovation of
Mitsui O.S.K. Lines (MOL) has announced the completion of this year's Project Based Learning (PBL) program at the University of Tokyo Graduate Program for Mechanical Systems Innovation (GMSI), Research and Education Consortium for Innovation of Advanced Integrated Science (CIAiS) and Global
Canada-based Algoma Central Corporation and Switzerland's Nova Marine Carriers SA have announced that they are exploring an expanded partnership that is expected to lead to the creation of a global company specializing in short-sea dry bulk shipping.
French offshore vessel operator BOURBON said it has signed an agreement with its financial partners providing for the rescheduling of the maturities of a large part of its financial debt. Out of long- and medium-term debt totaling €692 million
Specialist offshore contractor Seaway Heavy Lifting, a 50/50 joint venture between Subsea 7 S.A. and K&S Baltic Offshore (Cyprus) Limited, is now a wholly-owned subsidiary of Subsea 7. Subsea 7 said it acquired the remaining 50 percent shareholding in Seaway Heavy Lifting Holding
Broward County's Port Everglades has negotiated a Memorandum of Understanding (MOU) that provides the framework for a new long-term business agreement with Royal Caribbean Cruises, Ltd. (RCL) that will include complete, customized renovations of the Port's Cruise Terminal 25 targeted for
DryShips Inc. has successfully completed the previously announced $200 million common stock offering, in which the Company raised net proceeds of $198 million, pursuant to the prospectus supplement filed on February 17, 2017. Following the completion of the offering