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Major Oil

UK Oil Firm Charters Two NAO Vessels

Nordic American Offshore Ltd (NAO) has entered into two new contracts with a major oil company in the U.K. for one year with a one year option. This will secure employment for two NAO vessels up to the end of 2015


TEN Takes Delivery of Panamax Tanker Aztec

Tsakos Energy Navigation Limited (TEN) has entered into a new medium-term charter arrangement with PMI, the state owned oil company of Mexico. Under the terms of the agreement, TEN has chartered its newly delivered coated double-hulled Panamax, the Aztec, to PMI. The contract is for 30 months at an accretive rate. TEN currently has the Handysize product carrier Libra chartered to PMI until 2005. "We are pleased to furnish PMI with another high-quality vessel to serve their growing


SapuraCrest, Ramunia Awarded Contracts

Two oil and gas players, SapuraCrest Petroleum Bhd and Ramunia Holdings Bhd, announced major contracts related to the industry worth $120 million and $24 million respectively. SapuraCrest said its 51%-owned unit Tioman Drilling Co Sdn Bhd had been awarded a contract from Carigali-Triton Operating Co Sdn Bhd (CTOC) for the provision of two drilling units– Teknik Berkat and a new mobile drilling vessel, known as T-10 – to CTOC.


Wärtsilä Acquires Power and Automation Systems from Aker Kvaerner

Wärtsilä has acquired Aker Kvaerner Power and Automation Systems AS (AKPAS) from Aker Kvaerner. AKPAS supplies power and automation systems for the oil and gas, marine and industrial markets. The company operates mainly in the North Sea region with major oil and gas companies and Norwegian shipyards. AKPAS has annual net sales of EUR 28 million and 135 employees in Stord, Norway. The acquisition price is approximately EUR 12 million.


Wärtsilä Automation in Norway

The Norwegian automation company AKPAS, acquired by Wärtsilä in February, has been renamed Wärtsilä Automation Norway AS. The company becomes part of Wärtsilä from March 1. The company supplements Wärtsilä's product offering in electric propulsion systems, power distribution and automation for the oil & gas and marine sectors. It also strengthens Wärtsilä's capabilities for further development of automation systems.


Norsk Hydro Strikes Oil, Natural Gas Reserves off Norway

Norsk Hydro ASA struck oil and natural gas reserves off the western Norway city of Bergen, reports said. The directorate described the strike as minor though no estimate was given for the size of the find. It said field partners may link the oil and gas reserve to existing production facilities at the nearby Fram field, also operated by Norsk Hydro. The Norwegian government has encouraged oil companies to look for small finds near producing offshore fields to maintain the oil flows that


TOP Announces Delivery of Sixth in Series of Ten

TOP Tankers Inc, announced that it took delivery of M/T Restless, a 47,084 Dwt, ice-classed, double-hull Handymax tanker, built in 1991 by Halla Engineering & Heavy Industries Limited of the Republic of Korea. As with all the Company's Handymax tankers, the vessel commenced its 2-year profit-sharing employment contract with a major oil trader. The delivery of the M/T Restless represents the sixth of 10 double-hull tankers the Company is acquiring using the proceeds of its initial public


First Steel Cut for Liftboat ‘Seajacks Hydra’

Photo by Seajacks

A ceremony marked the event at Lamprell’s Hamriyah Dubai facility. The self-elevating, ‘Seajacks Hydra’ has been specifically designed for installation and maintenance services in the offshore wind and oil and gas sectors. The vessel will be equipped with a high speed jacking system, a 400t crane and able to operate in water depths up to 48m. Lamprell Energy has built all three of Seajacks’ current vessels; ‘Kraken’


Far East Contract for Icebreaking AHTS 'Tor Viking'

AHTS Tor Viking: Photo VSS

Viking Supply Ships says it has entered into a contract with a major oil company for their AHTS vessel 'Tor Viking'. The charter of the AHTS will be in the Far East region, commencing in June 2014. The duration is for 11 months firm, plus options to extend the contract by 2 x 6 months subject to availability. Viking considers that this contract strengthens its position within harsh environment operations. The value of the firm period of the contract is around US$ 34.5-million.


Early Termination for Viking’s AHTS Vessels

Viking Supply oversees a fleet of five platforum-supply vessels and eight anchor handlers.

  As previously communicated, Viking Supply Ships has entered into an agreement with a major oil company for the charter of three vessels. The contract applies to the drilling seasons 2014 and 2015, with options for the drilling seasons 2016 and 2017. The drilling season is expected to commence around April / May each year. As a result of the 2015 drilling season has been cancelled, Viking Supply Ships has received an early termination for Brage Viking, Magne Viking and Balder Viking


DryShips Acquires Six Vessels

Image: DryShips Inc.

 DryShips Inc.  has entered into agreements to acquire six vessels for a total gross price of $268 million. It has also entered into an agreement with Kalani Investments Limited.   These vessels are comprised of one Aframax tanker built in 2012, three Kamsarmax drybulk vessels


Fourth LNG-powered OSV for Harvey Gulf

Image: Harvey Gulf

Harvey Gulf International Marine said it has accepted delivery of its fourth liquefied natural gas (LNG) powered offshore supply vessel (OSV). The M/V Harvey Freedom, built at Gulf Coast Shipyard Group in Gulfport, Miss. is 310’ x 64’ x 24.5’, U.S


Solstad CSV Serviced ahead of Australian Deployment

Normand Reach (Photo: Gibdock)

Gibraltar shipyard Gibdock said a surge in offshore vessel repair and maintenance work has included a special project for Norwegian offshore vessel owner and operator Solstad, to ensure that Normand Reach meets the hull cleanliness standards set by Australia’s National Biofouling Management


OPEC Set to Prolong Oil Cuts

© SLDigi / Adobe Stock

OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude.   OPEC's de facto leader, Saudi Arabia, favours extending the output curbs by nine months rather than


Zycraft Completes Longest Range Spares Delivery at Sea

Photo: Zycraft Pte Ltd

 Zycraft announced it had recently completed its longest range and fastest delivery of spares to a vessel in the Indian Ocean with one of its Shomari Long Range Vessels (LRV-17).   The Nimble Cheetah traveled a total distance of 980 nautical miles at 25 knots to deliver critical


Exhibition on Risk of Oil Pollution from Ships

Image: Collage by Marinelink

The International Group is collaborating with the International Maritime Organization (IMO), International Oil Pollution Compensation Fund (IOPC) Funds and other industry organisations to produce an exhibition at the IMO to mark the achievements of the international community over the past 50


DryShips Expands to Gas Carrier Market with Four New VLGCs

Image: DryShips Inc.

 DryShips Inc. has agreed to enter into a "zero cost" LPG Option Agreement with companies controlled by its Chairman and Chief Executive Officer,  George Economou, to purchase up to four high specifications Very Large Gas Carriers (VLGC) capable of carrying liquefied petroleum


Dryships to Expand into VLGC sector

The Table

DryShips Inc. announced today that, it has agreed to enter into a “zero cost” Option Agreement (“LPG Option Agreement”) with companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou, to purchase up to four high specifications Very Large Gas


Libya to declare force majeure at Ports over Smuggling

Libya's UN-backed government will declare force majeure on two ports to stop fuel smuggling from them, a statement from its presidential council said on Saturday. The statement gave no details on when the measure would come into effect, but it comes after officials accused a local armed group


IMO Exhibition on Safe Sea Oil Transport

Launch of the IMO Exhibition Photo IMO

The 50 years since the grounding of the tanker Torrey Canyon in 1967 have seen dramatic and sustained reduction in major oil spills from ships, thanks to cooperation between Governments and industry. The story of how that incident served as a catalyst for positive change is told in a new


Successful Cooperation for Safe Sea Transport of Oil

International Maritime Organization (IMO)

 The 50 years since the grounding of the tanker Torrey Canyon in 1967 have seen dramatic and sustained reduction in major oil spills from ships, thanks to cooperation between Governments and industry, says International Maritime Organization (IMO)  


Chennai Oil Spill: DG Shipping Institutes Inquiry

Pon Radhakrishnan. Photo: Official Page in Twitter

 Days after the unexpected cargo ships collision outside the Kamarajar Port in Chennai (Tamil Nadu State, India), the Directorate General (DG) of Shipping has instituted an inquiry regarding the same.   Two vessels namely, M.T. BW Maple carrying LPG and M.T


DOF Subsea wins three year IMR agreement

The HUGIN 1000 Image: DOF ASA

 In Asia Pacific, DOF Subsea has been awarded a 3-year IMR frame agreement with one of the major oil and gas companies in the region.   DOF Subsea has recently secured a Safety Case for Geoholm, and the vessel will be available in the Asia Pacific region from the beginning of Q2 2017.


Libya: Air Strikes Aimed to Regain Oil Ports

 East Libyan forces carried out air strikes around major oil ports on Saturday as they sought to regain control of the area from a rival faction, a military spokesman said.   The eastern-based Libyan National Army (LNA) and allied forces retreated on Friday from Es Sider and Ras Lanuf


Libyan Oil Output Rises after Port Fighting Ends

Libya's oil production has reached 700,000 barrels per day (bpd), the National Oil Corporation (NOC) said on Wednesday, recovering from a drop earlier this month caused by fighting at two key oil ports.   "We are working very hard to reach 800,000 barrels by the end of April 2017, and






 
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