Triggered by the desire to harness China’s offshore oil potential China Oilfield Services Ltd (COSL) plans to expand its ocean engineering fleet with as much as fifty new vessels, China daily reports citing COSL’s manager of the shipping department Cai Dian. According to him, China’s largest integrated oilfield service provider will use the new vessels [...]
Statoil has, on behalf of the licence owners, issued a letter of intent to Samsung Heavy Industries for construction of a new permanent floating storage unit (FSU) for the Heidrun field in the Norwegian Sea. The contract is worth an estimated USD 230 million and includes options to buy two additional units. The new storage [...]
September 13, 2012 | Posted in
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South Korean President Lee Myung-bak is visiting Norway with an aim of establishing new shipping routes over the Arctic which might cut in half the current travelling times and upsurge trade exchange between Europe and Asia, Barents Observer informs. More detailed political discussions are scheduled for today when the South Korean President will meet with [...]
Stricter limits on the sulphur content of shipping fuels are set to improve air quality along European coastlines and reduce the estimated 50,000 premature deaths caused each year by air pollution from ships. Parliament today approved legislation agreed with member states, which requires new general limits to be in place by 2020. “Highly polluting shipping [...]
Oman Shipping Company is expanding its current fleet of 41 vessels with five new carriers so as to cater for the rising demand from the Oman’s oil and gas, petrochemical and other industries, including flourishing LNG sector, Deputy Chief Executive Officer of the company, Tarik Mohamed Al Junaidi told the Times of Oman. Al Junaidi [...]
Sinopec, Chinese super-large petroleum and petrochemical company and its transportation partner China Shipping Group have placed an order with the Hudong-Zhonghua Shipbuilding, a large shipbuilding enterprise under the leadership of China Shipbuilding Group Corporation (CSSC) for construction of four LNG carriers. Namely, the stakeholders have signed a contract on four newbuild dual-fuel diesel-electric vessels of [...]
The long-term strategy to expand J. Lauritzen’s participation in the high-end offshore accommodation sector has reached a new milestone. Axis Offshore, the newly established joint venture between J. Lauritzen A/S and the leading oil and gas private equity firm HitecVision today announced the ordering of a semi-submersible accommodation vessel which will satisfy the stringent North [...]
September 10, 2012 | Posted in
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Royal Dutch Shell Plc (RDSA) is currently conducting negotiations with Hyundai Mipo Dockyard (010620) Co. and SPP Shipbuilding Co. shipyards on the construction of 20 Medium Range oil tankers, TradeWinds informs citing unnamed shipbrokers. According to the same source, the possible deal would entail building of 10 of the vessels with options to build another [...]
Rowan Companies plc announced today that it has exercised its option to build a fourth GustoMSC P10,000 design ultra-deepwater drillship with Hyundai Heavy Industries Co., Ltd. with delivery scheduled in March 2015. The cost for this rig, including commissioning, project management and spares, but excluding capitalized interest, is estimated to be approximately $620 million. This [...]
September 10, 2012 | Posted in
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Pacific Basin Shipping Limited, one of the world’s leading dry bulk shipping companies, today announced an agreement to sell all of its six Roll-on Roll- off vessels to Atlantica SPA di Navigazione, a Grimaldi Group company, for an aggregate consideration of €153,000,000. Under the Agreement, Atlantica will purchase the Vessels at any time commencing from [...]
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