AOD cans jack-up option [Offshore]
Asia Offshore Drilling has abandoned a $184m option to build a fourth jack-up rig at Singapore's Keppel FELS. Oslo-listed AOD says the decision was motivated by prevailing uncertainty and volatility in the financial markets. “The board's ob...
2011-09-30 07:08:17
SCF sale pushed back [Shipping]
The partial privatization of Russian tanker owner Sovcomflot is unlikely to happen before 2013, according to the country’s deputy transport minister. Viktor Olersky blamed unfavourable market conditions for another probable delay in the sale of...
2011-09-30 07:05:02
Keppel wins FSU/FPSO [Offshore]
Keppel Shipyard has bagged SGD 142m ($109.4m) worth of contracts to convert and upgrade vessels into floating storage units (FSUs) for three different clients. Singapore-listed parent Keppel Corp says the first project involves Malaysian giant MI...
2011-09-30 07:02:33
Aker Phil inks 115K tankers [Shipbuilding]
Exxon Mobil Corporation's U.S. marine affiliate, SeaRiver Maritime, Inc., signed an agreement on Sep. 29 with Aker Philadelphia Shipyard for the construction of two new Liberty Class tankers valued at $400 million, which will create more than 1,000 d...
2011-09-30 06:58:07
MODEC wins FPSO [Offshore]
Japan's Modec and Brazil's Schahin Group will convert very large crude carrier Sunrise J into a floating production storage and offloading vessel for use in Brazil. The two companies will be responsible for the engineering, procurement, construct...
2011-09-30 06:53:41
Seoul buys 11 vessels [General]
Korea Asset Management Corporation (KAMCO), which manages ship funds with structural adjustment fund, is to purchase additional 11 ships from small-and-medium shipping companies with bad liquidity. KAMCO revealed on September 29th, "On account of ...
2011-09-29 15:16:58
ZPMC inks three offshore cranes [Offshore]
Shanghai Zhenhua Heavy Industries (ZPMC) of China announced on September 28th that it won three 1,600-ton floating cranes from No1 Engineering Company Limited of CCCC First Harbor Engineering, No3 Engineering Company Limited of CCCC First Harbor Engi...
2011-09-29 13:58:53
Valemax trio delivered [Shipping]
Vale's second VLOC 'Vale Rio de Janeiro' and the third 'Vale Beijing' was completed and delivered from South Korea's Daewoo Shipbuilding & Marine Engineering on September 22nd and STX Offshore & Shipbuilding on 26th, respectively. Recently delive...
2011-09-29 13:01:19
Hyundai Mipo order modified [General]
Hyundai Mipo Dockyard of South Korea announced on September 23rd that it agreed to modify the newbuilding contract, signed from the Middle-East owner in June 2008, to downsize seven bulkers to six. The modification was due to owner's request and t...
2011-09-29 11:26:35
Samsung smallest decline [Finance]
Kyobo Securities of South Korea kept its buy opinion while down-adjusted target share price to KRW 35,000 ($29.4) from KRW 55,000 on Samsung Heavy Industries. According to Kyobo, Samsung secured the largest new order among Korean Big3, relatively hig...
2011-09-29 10:46:48
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