Wartsila power & propulsion for new DSCV [Equipment]
Wärtsilä, the marine industry's leading systems integrator, has been awarded the contract to supply an integrated solution for power generation, power distribution, and propulsion for a new Diving Support & Construction Vessel (DSCV) curren...
2011-06-08 07:59:05
E&P spending $533bn [Offshore]
Global exploration and production spending is estimated to top $533 billion this year, up 14% on an earlier forecast, on the back of high oil and gas prices. A strong driver for the spending surge, based on a survey of 445 companies by Dahlman Ro...
2011-06-08 07:55:27
Brodosplit workers stage sit-in [General]
Workers at Croatia's Brodosplit shipyard, one of a group of Croatian yards being readied for privatisation by the government, have staged a sit-in at the yard in protest at the lack of movement on privatisation. The metalworkers’ union, which or...
2011-06-08 07:52:45
VLGC rates slump [Shipping]
Saudi Arabia’s low June prices for propane and butane are doing little to encourage a significant increase in trading and chartering in the shipping market. Freight rates for liquefied petroleum gas carriers struggled to budge from the $40 per t...
2011-06-08 07:47:34
Hamworthy profit shrinks [Equipment]
Ship systems specialist Hamworthy saw net profit plunge for the year ending 31 March. Earnings sank to £10.5m ($17.25m) from just over £15m in 2010, the company said in a preliminary report. Hamworthy, which produces technology for LN...
2011-06-08 07:41:52
Maersk stresses punctuality [Shipping]
Maersk Line chief Eivind Kolding says the containership industry has to start delivering its boxes on time more often. Talking at a conference in Belgium, he said punctuality must improve to at least 95% from the current 50% “If customers i...
2011-06-08 07:38:22
21-drillship bidding begins [Offshore]
Petrobras’ board of directors have officially set into motion a tender for the construction of 21 drilling rigs (ultra-deepwater drillships) to be built in Brazil. The state-controlled energy giant says two contracts will be awarded for each of...
2011-06-08 07:32:14
Korea in 'Sole Lead' [Shipbuilding]
South Korean shipbuilders are running far ahead of its Chinese rivals in newbuilding orders since the turn of this year. Sweeping high-value ship orders like drillships, LNG carriers and ultra-large containerships, South Korea topped China in new ...
2011-06-08 07:23:10
Hyundai signs shuttle tanker [Shipbuilding]
Hyundai Heavy Industries has added one more shuttle tanker order recently. Knutsen NYK Offshore Tankers has exercised one option for aframax shuttle tanker of the two options it secured last month. The 123,000-dwt vessel will be delivered in th...
2011-06-08 07:07:04
Tanker price to fall further [Shipping]
John Fredriksen says tanker prices will crash during the next couple of years and he is looking to use that window to expand his fleet. Clarksons presently values a five-year-old VLCC at $83m, down from $104m at the end of 2008. According to Fred...
2011-06-08 06:57:42
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