Japanese companies enter FPSO owning business [Offshore]
Four companies (hereinafter the “four partners”), namely, Kawasaki Kisen Kaisha, Ltd. (head office: Chiyoda-ku, Tokyo; President & CEO: Eizo Murakami; hereinafter "’K’ Line”), Sumitomo Corporation (head office: Chuo-ku, Tokyo; Presi...
2017-07-05 07:34:08
Project started for new ship development platform [Shipbuilding]
Rolls-Royce, The Norwegian University of Technology Science (NTNU), research organisation SINTEF Ocean, and classification society DNV GL have recently signed a memorandum of understanding (MoU) with the aim of creating an open source digital pla...
2017-07-05 07:30:11
WinGD completes tests for new engine [Equipment]
Following an extensive test programme in the presence of eight classification societies, the latest development in Winterthur Gas & Diesel’s Generation X low-speed diesel engine range, the X52, successfully completed both its Factory Accept...
2017-07-05 07:28:16
ClassNK-Green Award to enhance safe shipping [Shipping]
ClassNK and Green Award announced on July 3 that they would further broaden their cooperation to ensure safety and minimize negative effects of the shipping industry. ClassNK became a Green Award incentive provider. ClassNK, a ship classificat...
2017-07-05 07:26:14
Total-NIOC to develop phase 11 of South Pars [Offshore]
It turned out that Total and the National Iranian Oil Company (NIOC) have signed a contract for the development and production of phase 11 of South Pars (SP11), the world's largest gas field. The project will have a production capacity of 2 billi...
2017-07-05 07:24:22
Merger of Baker Hughes-GE Oil & Gas finished [Offshore]
GE (NYSE: GE) announced on July 3 the completion of the previously announced combination of GE’s oil and gas business with Baker Hughes. Baker Hughes, a GE company (NYSE:BHGE) is the first and only company to bring together industry-leading equ...
2017-07-05 07:22:22
Saipem nets new E&C offshore deal [Offshore]
Saipem announced on July 3 that it has been awarded a new E&C Offshore contract by Saudi Aramco for EPCI (Engineering, Procurement, Construction, Installation) activities and T&I (Trunklines & Installation) works in Saudi Arabia, unde...
2017-07-05 07:20:30
Wartsila to provide equipment for Virgin Voyages [Equipment]
The technology group Wärtsilä has been contracted to provide a comprehensive scope of solutions for three new 2800 passenger cruise vessels being built for Virgin Voyages. The ships are to be built at the Fincantieri shipyard in Italy. The orde...
2017-07-05 07:18:52
SWS in arbitration process over rig delay [Offshore]
China State Shipbuilding Corporation (CSSC) has announced that Shanghai Waigaoqiao Shipbuilding (SWS) has entered into an arbitration process in London with Singapore owner ESSM over the delivery delay of a jackup rig.  According to a reg...
2017-07-05 07:15:08
Tanker spot rate hit lowest level [Shipping]
Downturn in demand and a steep increase in ship supplies due to OPEC's decision to cut production pushed spot earnings in the tanker market to the lowest levels in four years. The demand growth is also expected to continue until next year, but...
2017-07-05 07:14:19
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