Wolong Signs Agreement
Singapore-based Wolong International has announced the signing of a licensing agreement with Fr. Fassmer Gmbh of Germany for the production of Wolong (Fassmer Licensed) totally enclosed lifeboats. The agreement, signed on October 1, 2001, serves to synergize the West and East. Production of the Wolong lifeboats is to b e carried out in China and is expected to commence within the month. Fassmer with this agreement will be providing the technical support to Wolong International in upgrading and improving the quality of its lifeboats.
FastShip Signs Cargo Agreement
FastShip has signed agreements for wholesale cargo commitments with international freight forwarders AEI Circle International, GeoLogistics and MSAS Global Logistics. The agreements state that the shipping companies must commit to purchase future cargo space on the company's high-speed trans-Atlantic service on a "take-or-pay" basis upon service commencement in 2003. The agreements closely follow the commitment by the French government to establish Cherbourg as the European hub for FastShip's
Odfjell Orders Six Chem Tankers
Odfjell signed agreements with the Chuan Dong Shipyard to build a series of six plus four optional 9,000 dwt stainless steel chemical tankers for delivery in 2010-2012 at a total price of $180 million. These ships will operate in our regional trades in Asia and Europe, and will replace smaller vessels currently trading in these areas.
China Shipping to Pay $293M for Eight Tankers
According to a Nov. 29 report from Bloomberg, China Shipping Development Co., the dry-bulk arm of the nation’s second-biggest shipping group, signed agreements to purchase eight 48,000 dead weight ton tankers for a combined $293m. The tankers are expected to be delivered from July 31 through Dec. 31, 2012. (Source: Bloomberg)
Ship Managers, PVEC, Look to Eco-Cruise Market
Global shipping management company, PV Enterprises International, Inc. (PVEC), has provided an update to its shareholders & the investment community on the next phase of its business plan and enhanced corporate strategy, as follows: "We realized people are the most profitable cargo," said Mr. Peter Villiotis, CEO of PVEC. "We are very excited about our focus on tourism in undeveloped areas
Rosneft Acquires Oilfield Service from Trican
A company of the Rosneft Group and a subsidiary of Trican Well Service Ltd. signed a framework agreement and ancillary documents, pursuant to which a Rosneft subsidiary agreed to acquire a 100% shareholding in Trican Well Service LLC, which provides high-quality pressure pumping services focused on enhancement of production within the conventional oil and gas industry in Russia. The purchaser has already obtained the necessary approval of the Federal Antimonopoly Service of the Russian
Cummins Mid-South, Algae-X Sign Agreement
Algae-X International is pleased to announce its distribution agreement with Cummins Mid-South LLC. Cummins Mid-South is the Cummins Engine Distributor operating distribution centers throughout the States of Louisiana, Mississippi, Arkansas and Western Tennessee. Calvin B. Klotz, vice president of the Marine Division plans to integrate Algae-X Fuel Conditioners into the fuel systems for new engine packages, and to retro-fit Algae-X units into existing engine installations for Marine
Australian Maritime Security Deal Signed
Reports indicate that Australian Attorney General, Philip Ruddock, today signed agreements to enhance maritime security and counter-terrorism. Ruddock, in London as part of a week-long visit to Europe to discuss security issues, signed the security protocols at a meeting with the secretary general of the International Maritime Organization (IMO), Efthimios Mitropoulos. He said they would significantly strengthen international efforts to counter terrorist threats to maritime security and
Estonia signs agreement with Primar Stavanger
Estonia signs agreement with Primar Stavanger Primar Stavanger, the international Electronic Navigational Chart (ENC) center operated by the Norwegian Hydrographic Service, has recently signed a cooperation agreement with Estonia. The center now covers more than 80 percent of all ENCs available in Europe, reports marketing manager Rune H. Johnsen at Primar Stavanger. Estonia has already made 31 ENCs available, which indicate that the whole coast of this Baltic state is covered
ENI, Anadarko to Build LNG Terminals in Mozambique
Italy's ENI and U.S. oil and gas firm Anadarko signed agreements with the Mozambique government on Thursday to build two liquefied natural gas terminals in the southern African country. The terminals will be built in Cabo Delgado province, where Mozambique has made massive gas discoveries that could transform it from a poor African country into a major energy supplier to Asia. The agreements were signed by Mozambique's energy minister Letícia Klemens and the regional
Mississippi Ports Eye Cuba, Ink Pacts in Havana
The Mississippi ports of Pascagoula and Gulfport signed agreements in Cuba on Monday with an eye to future business and with a Republican U.S. senator from the state looking on, despite concerns President Donald Trump might backtrack on improved relations. Senator Thad Cochran is the only Republican among five U.S. senators and a U.S. representative on a three-day visit to the Communist-run Caribbean island to discuss relations and explore business opportunities.
Wärtsilä, Shipyards Partner on BWMS Retrofits
The technology group Wärtsilä is in the process of signing agreements with a number of major shipyards, the latest being Keppel Shipyard Ltd (KSL) of Singapore. The agreements are intended to establish cooperation and communication between the parties in relation to the International Maritime Organization's (IMO) Convention for Ballast Water Management, which is due to enter into force in September of this year.
Petrobangla, Summit Pact for 2nd LNG Terminal
Bangladesh's State-owned Petrobangla has inked final deals with Summit LNG Terminal Co to development the country's second floating LNG terminal. The Financial Express reported that Summit group will install a Floating Storage and Re-gasification Unit (FSRU) at Moheshkhali Island in the Cox's Bazar. The terminal will have 500 million meter standard cubic feet per day (mmscfd) capacity, which would go on operation after 18 months.
Rolls-Royce Inks Service Deal with Siem Offshore, Subsea 7
Siem Offshore and Subsea 7 have signed a joint three-year service agreement with Rolls-Royce. The agreement covers a total of 74 offshore vessels. This is the first agreement the two Siem owned companies have signed with the same service provider. Under the agreement, Rolls-Royce will maintain and service all of the equipment it has delivered to the two companies’ offshore vessels. At present, aftermarket services account for roughly 40 percent of Rolls-Royce
Maritime India Summit Attracts $12.5 billion Investment
The first ever Maritime India Summit in Mumbai has resulted in attracting investments worth Rs 82,905 crores ($12.5 billion), says the Ministry of Shipping. A total of 141 MoUs and Business Agreements were signed by various players in maritime sector including Major Ports, State Maritime Boards and PSUs like Shipping Corporation of India, Cochin Shipyard Limited, Inland Waterways Authority of India etc.
China VLCC Sells Two VLCCs
China Energy Transport Co., Ltd. (China VLCC) has sold two secondhand VLCCs to an unrelated third party for a total price of $117.5mln. China VLCC is 51 percent owned by China Merchants Energy Shipping (CMES) and 49 percent owned by Sinotrans & CSC Group. It has signed agreements with two Marshall Island-registered companies, Coral Shipowning and Medal Shipowing, under which China VLCC will sell a 297
India: Iran Port Contract Likely
India will on Monday sign a commercial contract with Iran to build and run a strategic port on Iran's southern coast, the Indian government said on Friday, to help it gain a foothold in Iran and win access to central Asia and Afghanistan. Talks to build the Chabahar port have been on for years but since the scaling back of Western sanctions against Iran, India has pushed hard for the project so it doesn't lose out to other such as China, who are keen to invest.
Oman Signs Pacts with Ship Classification Bodies
Oman’s Ministry of Transport and Communications (MoTC) has signed agreements with three ship classification societies for small ships that do not abide by international treaties, said a report in Times of Oman. The agreements were signed with the British (Lloyds Register of Shipping), Italian (Rina) and Emirati (Tasneef) ship classification societies. Saeed bin Hamdoon bin Saif Al Harthy, undersecretary of Ports and Maritime Affairs
Höegh LNG Speeds up FSRU Conversion
Höegh LNG Holdings Ltd. today announced that it has signed agreements with Wärtsila Oil and Gas (EPCIC regas) and Moss Maritime (engineering) for its first FSRU conversion project, including the ordering of critical equipment with long lead time. By ordering said equipment in advance, Höegh LNG will reduce the conversion schedule by six months- from 18 to 12 months, giving a planned delivery date for the FSRU conversion project end 2017
MODEC Connects Offshore Fleet with O3b/RigNet
RigNet and MODEC Sign Agreement to Deliver Fiber-equivalent O3b Satellite Connectivity to Offshore Brazilian FPSO Fleet O3b Networks, technology solutions company RigNet and floating production service provider MODEC, entered an agreement to provide high-throughput, low latency connectivity for MODEC’s Floating Production Storage and Offloading (FPSO) vessels off the coast of Brazil. RigNet will integrate the O3b satellite network solution
US, Danish Maritime Academies Partner
Student exchanges, faculty collaborations and programmatic partnerships are now possible between the United States’ SUNY Maritime College and Svendborg International Maritime Academy in Denmark. The two institutions earlier this month signed a memorandum of agreement that will pave the way for academic cooperation and knowledge sharing. “The shipping industry is international by nature,” said Joseph Hoffman
India Signs MoUs With Foreign Countries for Building Ships and Ports
The following memorandum of understanding (MOU) and Agreements have been signed by India with foreign countries during the last two years for the development of ports and manufacture of ships in the country:- (i) Memorandum of Understanding between the Government of the Republic of India and the Islamic Republic of Iran over partnership of India in development plan of Chabahar Port, signed on 06 May, 2015.
Novatek Inks Agreements with Japanese Companies on Gas
Novatek, Russia's second biggest gas producer, said on Friday it had signed agreements with Japan's Mitsui & Co, Mitsubishi Corp and Marubeni Corp to cooperate in liquefied natural gas and other energy sectors. Japan, lacking fuel resources, is the world's largest importer of the gas while Russia wants to boost its global LNG market share, currently less than 5 percent. Novatek's Chief Executive Leonid Mikhelson said the agreements focused on potential gas production
Iran, Kazakhstan Deal for Shipping JV
The chief executive officers of Islamic Republic of Iran Shipping Line (IRISL) and Kazakhstan’s KTZ Express – a subsidiary of the country’s national railways company- signed an agreement for establishing a joint company. The deal could lead to the creation of a new transport corridor connecting Iran’s southern ports to the upper parts of Central Asia - and even possibly Russia and China.
Florida Ports Drop Plans to Ink Pacts with Cuba
Two Florida ports have canceled plans to sign cooperation pacts with Communist-ruled Cuba after state Governor Rick Scott threatened to cancel their funding if they did business with the "Cuban dictatorship." The news comes as Cuba watchers are looking closely for signs of how the United States' fragile detente with Cuba will fare under President Donald Trump. Trump has threatened to scrap moves to normalize relations