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Danaos Takes Delivery of 40th Containership
Danaos Corporation (NYSE: DAC) announced on April 8, 2009, that it took delivery of one more containership, the Zim Dalian, expanding its operational fleet to a…
Firms Strive to Hold 'Debt Maginot Line'
According to a March 22 report from the Korea Times, the Asian currency crisis, which caused many Korean firms to fold a decade ago, left a strong legacy that debt…
Bayards Announces Record Order
On Jan 16 2009 Bayards and Samsung Heavy Industries signed an order for the delivery of 14 aluminium helidecks in calendar year 2010 - ten firm, four options, and all involving some new technology. Bayards believes the commitment from Samsung is the largest single helideck order ever made. Peter Gritsch, manager of Bayard’s Italian subsidiary and pioneer in the Korean market explained that it did not come unexpectedly; it was preceded by a long hard road of loyalty building.
Danaos Adds 39th Containership
Danaos Corporation (NYSE: DAC) announced Jan. 6, 2009, that it took delivery of one more containership, the Zim Monaco, expanding its operational fleet to a total of 39 containerships aggregating 157…
ABB Wins Offshore Contracts of $150m
ABB, a power and automation technology group, recently won six contracts collectively worth more than $150m to supply main electrical systems for drilling rigs and drill-ships built in Asia.
Danaos Adds 4,253 TEU Containership
Danaos Corporation (NYSE: DAC) announced that on November 3, 2008, it took delivery of one more containership, the Zim Kingston. The vessel has a carrying capacity of 4…
Dryships 3Q Results
On November 2, DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes, announced its unaudited financial and operating…
Measuring Impact of Ice on Arctic Tankers
ABS, ConocoPhillips, Sovcomflot, and Samsung Heavy Industries (SHI) are jointly participating in a study measuring the effect of ice loads on Arctic class shuttle tanker performance.
ABB Wins Orders of $75M for LNG Ships
ABB’s delivery will help the ships maximize their fuel efficiency, as well as provide a reliable power supply to improve the availability of onboard equipment. The…
Danaos Adds New Containerships
Danaos Corporation announced that it took delivery of two containerships; the Zim Sao Paolo and the Zim Rio Grande, respectively. Each vessel has a carrying capacity of 4,253 TEU.
Buoyant Industry, but Analysts Worry about Acquisition Boom
Samsung Heavy Industries' overcrowded shipyard boasts about 40 months' worth of orders, yet analysts say that the seemingly buoyant shipbuilding industry may soon be heading into a multiyear downturn…
Samsung Heavy Leads South Korean Yard Gains
Samsung Heavy advanced 5.1 percent, the most in more than two months, to 40,600 won as of 11:52 a.m. Hyundai Heavy Industries Co., climbed 3.2 percent, to 323,500 won.
Transocean to Acquire Drillship
Transocean Inc. announced that its subsidiaries have reached an agreement with subsidiaries of Petrobras and Mitsui to acquire a newbuild ultra-deepwater drillship under a capital lease contract. In conjunction with the capital lease contract, subsidiaries of Petrobras and Transocean have entered into a 10-year drilling contract covering worldwide operations with an option by Petrobras to extend the term of the drilling contract by up to an additional 10 years.
Samsung Heavy Fined for Spill
A South Korean court fined Samsung Heavy Industries Co. $28,870 for its involvement in a major oil spill, reports said. The local court also sentenced two crew…
Transocean to Acquire Newbuild Ultra-Deepwater Drillship
Transocean Inc. announced that its subsidiaries have reached an agreement with subsidiaries of Petrobras and Mitsui to acquire a newbuild ultra-deepwater drillship under a capital lease contract.
Ship Finance to Acquire Drillship
Ship Finance International Limited announced that it has entered into an agreement to acquire the newbuilding ultra-deepwater drillship West Polaris, from a subsidiary of Seadrill Limited.
DryShips Inc. to Acquire Ultra Deep Water Drillships
DryShips Inc., announced that it has exercised its option to acquire two advanced capability drillships for use in ultra deep water drilling locations. The drillships…
Transocean Gets Contract
Transocean Inc. announced that the ultra-deepwater drillship Dhirubhai Deepwater KG2 (formerly Deepwater Pacific 2), which is owned by a joint venture in which the company has 50 percent interest…
Companies Capitalize on Warming Waters
Norilsk Nickel is building its own fleet of ships to capitalize on the melting of the polar ice caps. The company ordered five reinforced cargo vessels that can…
Companies Swap Accusations over Oil Spill
Defense lawyers from rival companies wrangled over who was to blame for South Korea's worst oil spill as the trial resumed of five people accused of negligence, according to AFP.