Offshore
Aker wins $1bn platform
Norway’s Aker Solutions has inked a NOK 5.5bn ($984m) engineering, procurement and construction contract from ConocoPhillips on the US major’s Eldfisk 2 expansion project in the North Sea. The award covers the topside and bridges of the Eldfi...
2011-03-21 07:13:08
China getting ready for offshore
Annual investment for offshore oil development would reach $40bn to $50bn in the next five to 10 years, which corresponds to investment for the world ship market. Thus, the offshore industry worldwide come into the spotlight with a keen competiti...
2011-03-20 22:06:06
Asia big 3 start LNG battle
The first new LNG ship export order recently placed at China's Hudong-Zhonghua Shipbuilding under the umbrella of China State Shipbuilding Corporation (CSSC) from Japan's MOL reflects that China is emerging as a new rival in the LNG newbuidling marke...
2011-03-20 22:05:05
Samsung soon pens cruiseship
The advance into the cruiseship market of Korea's Samsung Heavy Industries, which has been running on the spot, seems to be clinched within the first half of the year. Roh In-sik, president of Samsung, remarked today, "The formal contract for an ...
2011-03-18 12:08:20
US green light for Petrobras FPSO
The US Interior Department said Thursday it gave final approval for Petrobras to use the first ever deep-water FPSO facility in the Gulf of Mexico. The facility will be used when the company begins oil and natural gas production at its Chinook-Ca...
2011-03-18 08:27:36
Uncertainty prevails in newbuilding
In the wake of the unprecedented disaster in Japan, global shipowners are bound to pause newbuilding order plans and reflect on their future strategies, as current market conditions are much too unstable to even foresee what’s to occur in a few wee...
2011-03-18 07:15:19
Big 3 dominate drillships
Korean shipbuilders have been dominating the world drillship newbuilding market since this year. Korea's big three - Hyundai, Samsung and Daewoo - have made a clean sweep of all the 10 new drillship orders placed worldwide so far this year with t...
2011-03-17 22:04:28
Rush for LNG ship orders
Multinational energy company Royal Dutch Shell is said to invest KRW 100trn ($87.7bn) to expand its energy business. As the news has become known, Korean shipbuilders are raising a high expectation for new LNG ship orders. Cho In-gab, researc...
2011-03-17 09:54:31
Bourbon profit drops
French offshore giant Bourbon has posted a massive fall in profit in 2010. The net figure was EUR 39.2m ($54.72m) last year, down from EUR 155.4m in 2009. Revenue increased to EUR 849.9m against EUR 812.8m, as the fleet grew to 407 vessels, f...
2011-03-17 08:12:24
Samsung signs first drillships
Korea's Samsung Heavy Industries announced today in a regulatory filing that it has won two drillships worth KRW 1.245trn ($1.1bn) from an American shipowner. Samsung is unwilling to disclose the name of the shipowner according to confidentiality...
2011-03-16 16:28:45
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