GE wins subsea deals [Offshore]
GE Oil & Gas subsidiary Wellstream has won a $200 million long-term flexible pipe and subsea equipment logistics services contract with Petrobras, triggering additional investments of $90 million in a new logistics base adjacent to the US company’s...
2011-06-16 08:32:38
Mitsubishi & Shell sign LNG deal [Equipment]
Japan's Mitsubishi Heavy Industries signed a six-year deal with Shell to become the Anglo-Dutch supermajor's preferred supplier of LNG compressors. Shell ranks as one of the biggest producers of LNG, with plants in Australia, Malaysia and elsewher...
2011-06-16 08:19:19
Asian seek more efficient ships [Shipping]
At a shipping efficiency seminar in Singapore, shipowners said they were actively seeking ways to mitigate rising bunker fuel costs and guard against the likelihood of stricter environmental legislation of the industry. “Three-quarters of the co...
2011-06-16 08:13:46
Boxship sector negative [Shipping]
Investment bank Jefferies underlines its gloomy view of container shipping. It predicts full-year losses for Neptune Orient Lines and China Shipping Container Lines and a steep drop in earnings for Overseas Orient International, parent of Orient O...
2011-06-16 08:06:32
VLCC owners hopeful [Shipping]
The moderate supply of very large crude carriers available for employment in the Middle East Gulf is helping to keep charter rates stable, with imminent rises anticipated. Vessel supply over the next four weeks stands at just 65, having hovered b...
2011-06-16 08:01:44
DACOS rolls out 1st newbuilding [Shipbuilding]
China's Dalian COSCO Shipbuilding Industry (DACOS), technically aided by Japanese shipbuilder Kawasaki Heavy Industries, announced on 15th that it has successfully completed a trial voyage of its first newbuilding. The 205,000-dwt bulker ordred by...
2011-06-16 07:58:16
Daewoo tipped to ink $14bn [Shipbuilding]
Daewoo Shipbuilding & Marine Engineering is being forecast to win $14bn orders this year as new orders speed up in the latter part of the year. Daiwa Securities expects a strong order momentum for Daewoo in the third quarter. The South Korean s...
2011-06-16 07:46:12
Ship Breaking Upgrade [General]
Working conditions at ship recycling yards have improved to include protective clothing and ISO certification. Representatives of ship breaking nations on the Indian sub-continent have hit back at the unrealistic view of their operations being pai...
2011-06-16 07:27:49
ST Marine wins AHTS [Offshore]
Singapore Technologies Marine has won a new contract for four anchor handler newbuildings from an offshore shipowner. ST Marine said the order by Hong Kong-listed Swire Pacific Offshore is worth SGD 171m (USD 138m). The contract covers the bu...
2011-06-16 07:21:00
Hyundai & Daewoo split NOL orders [Shipbuilding]
Neptune Orient Lines has inked preliminary contracts for 12 newbuilding containerships at South Korean shipyards. Singapore-listed NOL's recent order includes its largest ever vessels of 14,000-teu. The liner company has also upgraded a previous ...
2011-06-16 07:16:13
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