POSCO awards $750m COA deal [Shipping]
South Korean shipping company Hyundai Merchant Marine (HMM) has secured a whopping $750m iron ore contract from compatriot steel giant Posco. The diversified shipowner is set to carry iron ore for the steel maker for twenty years, it said in a re...
2009-12-18 07:30:26
Chubu Electric signs up for Gorgon gas [Offshore]
Chevron Corp said it signed a binding, 25-year sales agreement with Japanese utility Chubu Electric Power Co for annual supplies of 1.44 million metric tons of liquefied natural gas from the Gorgon project in Western Australia. Chubu will take a ...
2009-12-18 07:26:12
Dry dock reopens for shipbreaking [General]
Tyneside ship repairer A&P is preparing to open up its dry dock for ship-breaking work in 2010 as it looks to build upon an eventful 2009 which saw it change hands and land a £55m MoD contract. A&P was taken over last July by the Cardiff-bas...
2009-12-18 07:24:29
30% emission cut at zero-cost [Shipping]
Tor Svensen, COO of DNV Maritime Wednesday introduced the press to the groundbreaking results of a new study depicting how the shipping industry, by 2030, could cut emissions by 30%. The results were presented onboard the Viking Lady, the world’...
2009-12-18 07:17:36
Petrobras turns to SBM FPSO [Offshore]
Dutch engineering group SBM Offshore has been awarded a $1.7bn contract from Brazil’s state-owned oil company Petrobras to lease and operate a floating production, storage and offloading vessel. SBM said it had agreed the deal with Petrobras to ...
2009-12-18 07:12:52
Hanjin delivers IRISL boxships [Shipbuilding]
Two containerships at the center of a payments dispute between Islamic Republic of Iran Shipping Lines and South Korean shipbuilder Hanjin Heavy Industries & Construction have been handed over, while discussions continue about the fate of a third. ...
2009-12-18 07:10:04
Year-end order rally [Shipbuilding]
South Korean large shipbuilders, which have been suffering from orders drought, are landing new orders following one after another at the end of the year. Some are even cautiously talking about the market bottoming out. Notably, Daewoo Shipbuil...
2009-12-18 06:42:29
Acergy buys offshore vessel hull [Offshore]
Acergy, the offshore contractor, has agreed to acquire a partially built offshore vessel from Nordic Heavy Lift for $260m, according to overseas media report. The vessel, the Borealis, is a DP3 vessel with a 5,000-ton crane and is currently being ...
2009-12-17 14:57:35
Laid-up LNG carrier faces demolition [General]
Japanese shipowners are said to be close to taking a decision to break a 25-year-old LNG carrier that is currently laid up, foreign media reports. Informed sources say the 125,199-cbm Kotowaka Maru (built 1984) is likely to be sent for scrap in th...
2009-12-17 14:52:58
Greek buys SPP supramax resale [Shipping]
Goldenport Holdings is acquiring a supramax bulker resale under construction at SPP Shipbuilding in South Korea for $31.8m. The 59,000-dwt bulker is expected to be delivered in the fourth quarter of 2010. Goldenport said it has an option to upg...
2009-12-17 14:45:39
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