Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Oil Drilling Platforms News

16 Aug 2019

MODEC Raises $1bln Bond for FPSO Project

Japanese FPSO provider MODEC has decided to issue project bonds to international investors to refinance a floating production, storage and offloading  (FPSO) vessel chartered to the TUPI consortium.TUPI consortium is led by Petrobras with the aim of strategically diversifying its financing sources for MODEC’s entire FPSO charter business.MODEC, a unit of Mitsui E&S Holdings that builds floating oil-drilling platforms, said that project bonds are issued against future revenue from the infrastructure projects they finance.This project bond was issued for the FPSO Cidade de Mangaratiba MV24 which has been deployed and is currently in operation at the Iracema Sul (formerly Cernambi Sul) oil field…

04 Mar 2017

Cosco Closing Down Yards

COSCO Shipping Heavy Industry Co is planning to cut the number of shipyards that are able to manufacture offshore engineering products from five to two by 2020, China Daily reported. China's third largest shipbuilder by output makes this move as the company's latest effort to cut overcapacity, since the global market is unlikely to see a notable upturn anytime soon. Under the plan, its shipyards in Nantong, Zhoushan and Dongguan will be shut down. The company will keep manufacturing bases in Qidong and Dalian as they are capable of producing high-end offshore engineering products such as polar ships, oil drilling platforms and cattle carriers. A few months ago, China Cosco Shipping Group has integrated all of its shipbuilding assets into one unit – Cosco Shipping Heavy Industry (CSHI).

02 Jun 2016

China Launches New 98,000-ton Heavy-lift Mega Ship

The Guang Hua Kou, one of the world's largest heavy lift semi-submersible ships, was launched last month at Guangdong Shipyard International. At 98,000 tons, it's one of the largest vessels of its size, anywhere in the world. Though the ship is formally built for COSCO Heavy Transport, a state-owned civilian firm, it will likely be made available for the People’s Liberation Army Navy (PLAN) for peace and wartime operations, reports Popular Science. A shipping line owned by the Chinese government, Cosco Heavy Transport specializes in handling heavy cargo. “The ‘Guang Hua Kou’ will be one of the largest vessels of its type when delivered end of this year,” explained the company, in a press release.

23 May 2016

KR to Deliver Engineering, Ship Surveys in Iran

Korean Register (KR) – an IACS member classification society - has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The agreement is to deliver plant facility certification and engineering services. This is a growing market, with demand for plant project and industry safety inspection services expected to increase significantly over the next five years. The company will be called the ‘Iran-Korea Technology Assurance Company’, with 50-50 capital investment from KR and ICS. It will be fully operational in 2017. KR established a branch office in Tehran in 2010 but sanctions meant that the society suspended most of its services…

31 Aug 2010

Tugboats Keep Iceberg from Hitting Oil Drilling Platforms

According to an August 31 report from the New York Daily News, eight tug boats pulled an iceberg the size of a football field off the coast of Greenland away from oil drilling platforms. (Source: New York Daily News)

18 Apr 2000

Sanyo Hellas Buys Stake In Torm

Greek holding group Sanyo Hellas has acquired a 16.5 percent equity stake in Danish shipping firm Torm. The transaction was completed on April 17 on the Copenhagen bourse. The transaction amount was not disclosed. Torm, founded in 1889 and headquartered in Copenhagen, manages a fleet of about 80 ships. It owns 24 of these, including 16 tankers and two offshore oil-drilling platforms in the North Sea.

01 Aug 2006

Petrobras to Increase Equipment Spending

Petroleo Brasileiro SA, Brazil's state-run oil company, will double its spending on drilling equipment to$7b this year, ahead of possible price hikes in an overheated international market, the Houston Chronicle reported. Petroleo Brasileiro SA also said it would offer details on its plans to invest $22.1b from 2007 through 2011 to develop new sources of natural gas amid rising domestic demand and a move by its largest supplier to hike prices. Petroleo Brasileiro SA also confirmed reports that the company will build a new refinery capable of processing 500,000 barrels of oil a day by 2014. Construction will likely begin in 2010, but the refinery's location has yet to be selected.