Samsung, Daewoo searching for new orders
Chief executive officers of Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI) are attending the offshore technology conference (OTC). And their participation appears to mean a lot. "Kim Jing-wan, the vice chairm...
First drilling rig of India misses deadline
The first oil drilling rig to be built at an Indian yard has jumped the delivery deadline, casting doubts on the ability of local shipbuilders to build such vessels on time and establish themselves in an area considered the exclusive domain of a few ...
Cosco wins FPSO conversion deal
Cosco Corp (Singapore) has scooped a deal to convert a VLCC into a floating production, storage and offloading (FPSO) unit for a Japanese company. Its Dalian yard will complete the work on the 259,530-dwt Sunrise IV (built 1991) for Mitsui Ocean D...
Half of OSV newbuildings to fail
Half of the offshore support vessel newbuildings slated for delivery in 2009 will fail to hit the water this year, ODS Petrodata says. A maximum 200 of the planned 393 anchor handlers and PSVs will make it into the market in 2009, director David B...
Credit crunch kills contract for innovative MPV
Keppel Singmarine Pte Ltd. , a wholly owned subsidiary of Keppel Offshore & Marine has received a notice from Romania's GSP Titan Ltd. to terminate the contract for a DP3 multi-purpose vessel, effective May 1. Designed by Ulstein Sea of Solutions...
CEOs of major into "OTC 2009"
CEOs of South Korean shipbuilders, suffering orders drought, are aggressively seeking to win offshore unit orders such as drillship, semi-submersible rig and FPSO. Chief executives of the country’s major shipbuilders participate in Offshore Tech...
Subsea 7 cuts steel on Seven Pacific
Subsea 7 has started construction on its next pipelay and offshore construction vessel as part of a $1bn investment campaign. The Aberdeen-based ship owner said steel was cut on the Seven Pacific vessel in the IHC Krimpen shipyard in the Netherlan...
LNG production to double
Australia’s Woodside Petroleum expects global production of liquefied natural gas to comfortably more than double during the next decade, and believes the nation’s output could be as large as market leader Qatar’s within the same timeframe. ...
Exmar takes a hit from LPG market weakness
Exmar reported lower operating results Thursday as it took a hit from weakness in the LPG carrier market. The Belgian gasship owner posted $9.2m, or $0.28 per share, in first-quarter earnings before interest and taxes (Ebit), a 33.8% drop from $13...
Zeebrugge in a regasification move
Zeebrugge could become the first liquefied natural gas terminal in the world capable of accepting both conventional tonnage and the more novel regasification vessels following an agreement between gas shipping specialist Exmar and terminal operator F...
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