Russian United Shipbuilding Corporation (USC) and South Korean STX Offshore & Shipbuilding yesterday signed an agreement to establish a joint venture “New Admiralty Shipyards”
A delegation of Chinese investors have expressed interest in acquiring Rijeka’s 3.Maj shipyard, planning to invest some 63.8 million Euro. Although aware
More than a week after Saudi Arabia failed to persuade its fellow OPEC members to increase oil output, analysts and investors are still trying to sort out the meaning of the fracas.
MOSCOW - Chinese President Hu Jintao and President Dmitry Medvedev on Thursday talked up a deal to pump Russian gas to China for the next three decades but failed to clinch agreement on a final contract.
Even as it announced plans to order five big new containerships, Hanjin Shipping said it will suspend its Asia-Europe NE5 service in early July.The carrier operates the service in conjunction with its partners in the Green Alliance, formerly the CKYH alliance, between Cosco, K Line, and Yang Ming
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, inched lower on Friday although further iron ore business provided support to the larger capesize market.
NIGERIAN may have moved closer to the realization of the ideals of the Local Content policy with the commencement of partnership between an indigenous Oil and Gas logistics provider,
The government plans to hold talks with natural gas buyers and producers to review the terms of their sales contracts as it tries to boost gas revenue, an Energy Ministry official said.
The South Korean government won't be able to ask domestic oil refiners to maintain their lowered retail oil prices once their "self- imposed" price cuts end, a senior official
BIMCO General Meetings have a reputation for being rather different to those in the run of the mill conference circuit, and that in Vancouver last week was no exception. They make their delegates think – about big pictures – about the important background trends
Tanker owners are still in the loop following OPEC’s inability to provide the oil markets with some positive news on increased production figures, while demand is ever so growing. This week, IEA raised the issue once again, trying to exert pressure on OPEC
In April 2011, The Chicago Fire Department took delivery of a new Fireboat to replace the aging Victor L. Schlaeger. The vessel was named in memory of Firefighter Christopher Wheatley, who lost his life in active duty in 2010. The new vessel was designed by Robert Allan Ltd., Naval Architects
The development of Exhaust Gas Scrubber technology for SOx emissions control has advanced to the point that it is now possible to quickly ramp up production volumes to meet the increasing demand in the marine market as regulations become more stringent.
Kyodo Tokyo Electric Power Co. said Friday it will take a month to start circulating radioactive water cleaned using a newly installed water treatment system to cool the Fukushima No. 1 plant's crippled reactors.
Statoil wants to compress gas on the seabed to boost recovery. Subsea compression was recently selected as the preferred concept for Gullfaks.
Daewoo Shipbuilding & Marine Equipment has awarded Norway’s Aker Solutions a contract to supply a complete drilling equipment package for a new deep-water drill ship
Petrobras has its sights set on pre-salt plays off West Africa after it bought into a pair of assets off Gabon.
UK independent Bayfield Energy Holdings has set its sights on a London listing as it looks to expand its activity in the Caribbean.
UK: Maersk Approves USD 1 Billion Investment for Golden Eagle Development Plan
At No. 1 Dock, HVS held the launching ceremony for Hull No. S057, the 1st vessel of the order of series two 56,000 DWT Class Bulk Carriers from Blue Tide Shipping No.1 S.A., Panama.
DWT BC(HUll No.:SF060138), the second sister vessel being built for Indian MSPL company by SF shipyard, finished sea trial smoothly and came back to shipyard. It is reported that this vessel will be named as well as delivered at the end of June.
BL reported that the Indian steel makers may have to pay more for the imported coking coal in the next quarter beginning July 1.Steel industry insiders told Business Line that the forthcoming quarterly contracts, which would be finalized by the third week of this month, could see upward price revision. The last revision saw 47% jump.
Oil traders and companies holding stocks of crude and fuel oil ready to cash in on a surge in demand from Japan's power plants may have bought more than needed. Japan's oil demand for power consumption has shown little of the expected rise. If traders decide to give up the wait and sell elsewhere, prices of the stockpiled sweet crude grades from Indonesia, Vietnam and Sudan and fuel oil could slide in the weeks ahead.
The International Energy Agency, the West's energy watchdog, stands ready to release strategic reserves of crude oil to ensure adequate supply and support the global economy, Executive Director Nobuo Tanaka said on Thursday.
The risk of demand destruction in the United States is underestimated by the market, an Investec fund manager said, predicting a weaker U.S. summer driving season and a fall in the oil price as a result.
European refiners may be forced to reduce processing rates this summer as rising crude prices erode profits, according to Singapore-based researcher Facts Global Energy Inc
Singapore’s stockpiles of residues, or fuel oil, fell to the lowest in four months, data from a unit of the Ministry of Trade and Industry showed. Onshore inventories of residues, including fuel oil and low-sulfur waxy residue and excluding bitumen, dropped 13 percent to 18 million barrels in the seven days to June 15,
Russia and China may delay a natural-gas accord until later this year as wrangling continues over how much China needs to pay the world’s largest energy exporter for the fuel.Chinese President Hu Jintao is in Russia for a four-day visit and had been expected to sign a gas-supply agreement with his Russian counterpart Dmitry Medvedev
The fourth edition of Lloyd’s Register’s popular guide, Ballast Water Treatment Technology, has been released.With the International Maritime Organization's Ballast. Water Convention potentially coming into force as early as next year, ship-owners, managers and operators should be planning now for retro-fits of their operational ships,
Dutch offshore and ferry operating companies Workships Contractors and the Doeksen family announce their continued expansion into the service sector of the offshore wind industry by signing a Heads of Agreement for an Anglo-Dutch co-operation with Offshore Wind Power Marine Services Ltd,
The European Commission has requested Belgium, Estonia, France, Hungary, Austria, Poland, Portugal, Finland and the United Kingdom to adopt national legislation to implement EU rules setting up a vessel traffic monitoring and information system . The rules in question, an important measure to prevent loss of life and environmental damage from shipping accidents
On 15 June 2011, DNV signed a MoU with the Korea Finance Corporation (KoFC) to cooperate on verification of the green ships.
Rolls-Royce, the global power systems company, today announced orders worth over £100 million to supply propulsion systems for offshore construction and drilling vessels.
World's largest gas engine - Wärtsilä 18V50SG. The new Wärtsilä 50SG is a four-stroke, spark-ignited gas engine operating on the Otto cycle and incorporating the lean-burn principle. It has been designed using the proven gas technology used in the smaller Wärtsilä 34SG engine. An important feature of this new gas engine in Wärtsilä’s portfolio is its exceptionally high power plant net electrical efficiency rating - more than 50% in combined-cycle mode.
The Board of Directors of COSCO Corporation (Singapore) Limited (the "Company") wishes to announce that COSCO (Zhoushan) Shipyard Co., Ltd (“COSCO Zhoushan”), a subsidiary of the Company's 51% owned
A report released today from the U.S. Maritime Administration shows more ships are stopping at U.S. ports. The stops, or vessel calls, rebounded by 13 percent in 2010
Autoridad del Canal de Panama (ACP) has ordered 81 MW for base load operation. The public bid for the expansion of the Miraflores Power Plant has been concluded by , awarding the contract to Hyundai Heavy Industries Co. Ltd. for two engines of the, MAN B&W 12K80MC-S design.
Plans to build nuclear facilities for power generation in Jordan will go ahead the country’s energy minister has announced, despite calls to find other methods of production.
In an attempt to counter huge power shortages in the country, the Iraqi government has announced the construction of a new $130m 500 megawatt power station in the south of the country.
GE Marine reports that it will provide Austal USA with two LM2500 aeroderivative gas turbines to power the United States Navy’s fourth LCS-Class-Independence variant.
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