Saudi Signs Port & Shipyard Contracts
Saudi Ports sign contracts for upgradilng ports & rents out shipyard The Saudi Ports Authority has signed contracts worth s total $130 million for develpment and maintenance of ports including: King Abdul Aziz Port in Damman, King Fahd Industrial Port in Yanbu for use of Yasref refining company. In addition a 10-year contract was signed with Al=Balagha Trading Group for the rental of King Fahd Shipyard.
Seaspan Signs Contract for Five Ships
Seaspan Corp has signed contracts for Samsung Heavy Industries Co Ltd to build five new 4,520 TEU container ships. Seaspan has also completed more than $900 million in debt financing with a long-term fixed interest rate of less than 6 percent. The company has signed 12-year time charters for the vessels with Kawasaki Kisen Kaisha Ltd, Japan's third-largest liner operator. The five new vessels are due to be delivered in 2010 and 2011.
Indian Company to Buy VLGC
Great Eastern Shipping Company signs contract to buy a 1990-built Very Large Gas Carrier (VLGC) The Great Eastern Shipping Company Limited (G E Shipping) has signed contract to buy a Very Large Gas Carrier (VLGC) of about 49,700 dwt (75,000 cbm). The 1990-built vessel is expected to join the Company’s fleet during Q2FY2013. The Company’s current fleet stands at 32 vessels, comprising 22 tankers (9 crude carriers, 13 product carriers) and 10 dry bulk carriers (1 Capesize, 3 Kamsarmax, 1 Panamax, 4 Supramax, 1 Handymax) with an average age of 8.7 years aggregating 2.55-million dwt.
TransCoastal Signs Contracts Totaling $22M
TransCoastal Marine Services Inc. has signed contracts with a subsidiary of Penn Maritime Inc. for the modification and double-hull conversion of two barges. The work on the two barges will be carried out by TransCoastal's Fabrication and Offshore Group for more than $22 million. The project will begin in July and will extend into the fourth quarter of 2000.
EMGS Receives New contract From Tullow Oil
Electromagnetic Geoservices ASA (EMGS) has received a signed contract from Tullow Oil Norge AS worth USD 7.7 million for 3D EM data acquisition in the northern part of the North Sea. "We are delighted to work with Tullow again, and also, encouraged to see contract coverage in the Norwegian waters continue to develop favorably. Adding a multitude of contracts to our multi-client activities this year should result in the most active year in Norway to date," said Roar Bekker, CEO of EMGS. The survey is expected to commence in August, using the vessel BOA Thalassa.
Vinashin Signs Contracts at VietShip
Reports indicate that Vietnam Shipbuilding Industry Corporation (Vinashin) signed 18 contracts worth more than $400 million at VietShip in Hanoi yesterday, showing the growing interest in the country’s shipbuilding industry. Under the contracts, Vina-shin will supply three 8,700-DWT ships to Kanematsu of Japan and ten 4,600-DWT ships to Clipper of Denmark. Vinashin deputy general director Le Loc said Vinashin and the Chinese company Camso had signed a US$200-million contract to build a shipyard in the Nhon Hoi Economic Zone in the central province of Binh Dinh. Vinashin also secured contracts with the two local companies, Northern Food Corporation and Southern Food Corporation for rice shipments to the Philippines, Cuba and Scandinavian countries.
Seaspan Signs Contracts for 2 Vessels
Hong Kong-based container ship company Seaspan Corp. has signed contracts for two 2500 TEU vessels from Jiangsu Yangzijiang Shipbuilding Co. at an expected delivered cost of $46.4 million per vessel. Seaspan said the two new orders, scheduled for delivery in March and June, are on top of the eight 2500 TEU vessels it ordered last year from Jiangsu. The company said it has arranged simultaneous 10-year charter agreements for the two vessels with Japan's Kawasaki Kisen Kaisha Ltd. at a daily rate of $17,880. Seaspan said it expects each new vessel to contribute between $4.5 million and $4.9 million in annual earnings before interest, taxes and other payments. Source: AP
STX and SCI Sign Contract
Shipping Corporation of India (SCI) has signed contracts for construction and delivery of four Panamax bulk carriers with STX Shipyard, reports said.These vessels would be of higher capacity in the Panamax size range with 80,655 DWT each compared to the conventional Panamax vessels of 75,000 dwt.. SCI has embarked upon a fleet acquisition plan and with signing of this contract, has 32 vessels of 1.44mn GT on order. This include all types of vessels, i.e. crude oil carriers including 2 VLCCs, product tankers, dry bulk carriers, cellular container vessels and offshore supply vessels.
Vacon, Scanfil Agree on China Production
Vacon Plc has signed a memorandum of understanding with Scanfil Plc on production of the Vacon NXL low-power (under 3 kW) frequency converters in Suzhou, China, during the first year-quarter of 2004. The signed contract aims for a long-term cooperation in production and development of Vacon's logistics process. This contract has no impact on employment of Vacon personnel in Finland.
World Floater Market Is Stable
The floating rig market was showing signs of stability in many of the world's major drilling basins. However, reports Offshore Data Services, demand for older, second-generation units continues to lag. Worldwide, 149 of the existing 179 floating drilling rigs are under contract and fleet utilization for these rigs is 83.2 percent. In its previous Offshore International Newsletter Market Outlook on floaters, which was published in July, utilization was 82.1 percent with 147 of the existing 179 floating rigs under contract. Activity may slack off in the closing months of the year as oil companies formulate their drilling plans for next year.
Kuwait, Philippine Sign Contract
Kuwait Foreign Petroleum Exploration Company (KUFPEC), Shell and South China Resources (SCR) signed a contract with the Philippine Energy Department on offshore oil and gas explorations in northeastern Palawan, Philippine. The contract covered an area that exceeds 10 million square km, 30 percent of which is assigned to KUFPEC, 55 percent to Shell and the other 15 percent to SCR. The contract includes exploration and drilling of three oil wells within the next seven years and if oil or natural gas is discovered there, the production contract will be extended for nearly 25 years. (Source: People’s Daily Online)
Concordia Maritime Signs Contracts with Lukoil
Concordia Maritime has signed two-year timecharter contracts for the V-MAX vessels Stena Vision and Stena Victory with Litasco, a subsidiary of the Russian oil company Lukoil. The new time charters will begin immediately upon expiration of the current charter contracts with the American oil company Sunoco at the end of 2007. The vessels are chartered in from Arlington Tankers Ltd until the end of 2009. With the new time charter contracts Concordia Maritime has secured employment for the entire period.
Halifax Shipyard to Build Cruise Ships
The CBC has reported that Halifax Shipyard has signed contracts to build two luxury cruise ships for Pearl Seas Cruises, a Connecticut-based company. The value of the deal, signed Tuesday, was not made public. Pearl Seas president Charles Robertson said the company chose the Irving Shipbuilding Inc. operation because of the workers, facilities and geographic location. The vessels will carry between 165 to 210 passengers. The first one is expected to begin service in July 2008. Source: CBC
Chambal Signs Contract with Hyundai Unit
Reports indicate that Chambal Fertilisers & Chemicals Ltd. said on Wednesday it has signed a shipbuilding contract with South Korea's Hyundai Heavy Industries Company Ltd. The contracts are for two Aframax tankers. Hyundai is expected to deliver one in the last quarter of 2008, and the other in the first quarter of 2009, the company said. Shares of Chambal Fertilisers were up over 2 percent to 40.60 rupees in a flat Mumbai market.
Kronodoc, Aker Finnyards Sign Contract
Kronodoc Oy signed a purchase contract with Aker Finnyards Inc., the former Kvaerner Masa-Yards Inc. In addition to the delivery of the Kronodoc product, the contract includes services to implement the Kronodoc product in document management and collaboration functions throughout Aker Finnyards` design processes; to integrate the product to existing yard systems; to migrate data from existing document management systems to Kronodoc; and to train key users and administrators in the use of the system.
Havila and Subsea Sign Contract
Havila Shipping ASA and Phoenix International, Inc. signed a 10-year contract, with additional option years, for the newly built SubSea Construction Vessel, Havyard 858. The vessel is scheduled for delivery from Havyard Leirvik during the summer of 2008, and will support oil and gas industry initiatives in the U.S. Gulf of Mexico. The contract has been entered into on market terms.
Bharti Shipyard Signs Contract For $43.3m
Bharti Shipyard said that it has signed a maiden contract for $43.3m with UP Offshore Bahamas, for construction and supply of two platform supply vessels. Source: Big News Network
Meyer Werft and Disney Sign Contract for Two Ships
Disney and Meyer Werft have signed the contract for the two new cruise ships. The ship will have the yard numbers S. 687 and S. 688 and will have a tonnage of 124,000 gt. They are scheduled for delivery in 2011 and 2012. Each ship will have a length overall of 339.8 m, a breadth of 37 m, and a cabin capacity of 1,250. Source: Shipping Times
Technip Signs Contract With ExxonMobil Global
Technip USA Corporation has signed a multi-year contract with ExxonMobil Global Services to provide front-end engineering services. Technip will provide engineering services to ExxonMobil’s Baytown refinery and chemical plants as ExxonMobil implements its programs to significantly reduce its NOx emissions and contributes to the Houston-Galveston-area efforts to attain air quality standards. Techinip has been involved in Nox abatement projects since the 1980s in California
Egypt Signs Contract To Set Up A Container Station
The Egyptian Marine Transportation Sector and Suez Canal Company reportedly signed a contract to establish a container station in East Port Said harbor.
Rolls-Royce Wins Deck Safety Orders
Rolls-Royce has signed contracts with a value of about $99m covering delivery of safer deck operations equipment for four anchor handling vessels; two of the contracts are with Karmsund for Ezra in , and two with Aker Yards for K-Line in .
EMGS secures new contract in the Barents Sea
EMGS has received a signed contract from a repeat customer worth NOK 10 million (USD 1.7 million) for 3D EM data acquisition in the Barents Sea. The Company expects to commence the survey in May, using the vessel BOA Thalassa. The company had informed about another contract secured earlier this year for this same vessel in the Barents Sea worth $2.3 million. EMGS
UAE's National Drilling Co. Inks Deal for 14 Rigs
The UAE's National Drilling Company has signed contracts worth $543 million to acquire 14 new rigs, state news agency WAM said on Sunday. One offshore and one onshore rig will be manufactured in the United Arab Emirates (UAE) as part of the deals, WAM said. The new contracts are a reflection of the firm's plans for growth and a result of growing demand from its customers, it said. (Reporting by Maha El Dahan; editing by Jason Neely)