News

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  Freight market fails to recover

  With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels witnessed last month. The Baltic Dry Index edged up by nine points to an average 1,352 from 1,343 in April.

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  Noreco 'surprised' at Dong's Siri plan

  Noreco 'surprised' at Dong's Siri plan Denmark’s Dong Energy said it had found a permanent solution for repairing the damaged subsea structure of the Siri platform in the Danish North Sea but faces resistance from project partner Noreco.

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  MAN Launches Medium-Speed Two-Stage Turbocharged Engine

  MAN Diesel & Turbo has introduced its new two-staged turbocharged 18V48/60TS diesel engine. The 18-cylinder vee engine is rated for 1200 kW/cyl at 500 r/min with specific fuel oil consumption of 171.1 g/kWh, while retaining an output of 1050 kW/cyl. Bore and stroke is 480 mm and 600 mm, respectively.

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  $198m backup power plant for Wartsila

  The construction of a 250 megawatt backup power plant in Estonia, valued at $189 million, has been awarded to Wartsila.

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  Council of Energy meets US commerce delegation

  H.E. Saeed Mohammed Al Tayer, Vice Chairman of Dubai Supreme Council of Energy, has met with a US delegation to discuss the importance of coordination and collaboration among different parties concerned with commerce. The visit was also intended to highlight the bilateral economic and commercial relationships between the UAE and the USA.

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  $77 billion for Iraq power infrastructure

  Iraq’s energy minister has announced that his government will spend $77 billion on long-term energy infrastructure, a report by the Hurriyet Daily News has reported.

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  Three GE Frame 6FA Gas Turbines For Malaysia Power Project

  GE will supply three Frame 6FA gas turbines, associated generators and services for the 300-megawatt combined cycle gas-fired power plant project in Sabah, Malaysia. Using natural gas as its primary fuel, the new plant will reinforce Sabah’s energy infrastructure and help the state meet its growing electricity demand, which is increasing by more than 7 percent annually, the company said.

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  Aurelian targets tight gas boost

  UK-listed junior Aurelian Oil & Gas is looking to expand resource potential with a new well to be drilled this summer on its Siekierki tight gas project in Poland.

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  Norway flows dip on technical hitches

  Technical problems an maintenance work on several Norwegian fields saw average output from the country drop by 266,000 barrels per day in May to 1.829 million bpd compared to April.

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  USA: Government Calls for Review on Impact of Seismic Surveys on Whales and Dolphins in GoM

  The federal agency that oversees offshore drilling is finally asking the National Marine Fisheries Service to review the effects that intense, underwater seismic blasts have on whales and dolphins in the Gulf of Mexico. In a notice published , the Fisheries Service says the Bureau of Ocean Energy Management Regulation and Enforcement, the U.S. government agency responsible for permitting oil exploration in the Gulf, requested the regulations

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  Singapore: ST Marine Wins Four AHTS Vessels Order

  ST Engineering announced today that its marine arm, ST Marine, has won a shipbuilding contract worth about S$171m from Swire Pacific Offshore Operations (Pte) Ltd (SPO), a wholly owned subsidiary of Swire Pacific Limited.

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  Navios South American Logistics Signs 15-Year Charters with Petrobras for Cabotage Vessels

  Navios South American Logistics Inc., a subsidiary of Navios Maritime Holdings Inc., yesterday announced that the Company has signed 15-year charter contracts with Petrobras for six product tanker vessels to further expand Navios Logistics cabotage business in Brazil. Navios Logistics anticipates generating approximately $590 million of EBITDA from these contracts

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  Excel Maritime Fixes Two Kamsarmax Vessels into Two-Year Time Charters

  Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it has entered into two two-year time charters for its Kamsarmax vessels M/V Coal Hunter and M/V Santa Barbara

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  Euroseas announces the acquisition of a containership by its joint venture, Euromar LLC

  Maroussi, Athens, Greece, June 13, 2011, Euroseas Ltd., (NASDAQ:ESEA) an owner and operator of drybulk carriers, containerships and multipurpose vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that its joint venture company,

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  Navios Maritime Acquisition Corp. announces delivery of new building VLCC vessel

  Navios Maritime Acquisition Corporation ("Navios Acquisition") (NYSE: NNA), an owner and operator of tanker vessels, announced that the Shinyo Kieran, a VLCC vessel of 297,066 dwt, was delivered on June 8, 2011

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  MAN Diesel & Turbo Technology Boosts Efficiency

  MAN Diesel & Turbo used the world premiere of its MAN B&W ME-GI gas engine in Copenhagen to present efficiency technologies for its two-stroke engines, namely its WHR (Waste Heat Recovery) systems, that include its TCS-PTG turbines, and which are offered as an integrated solution.

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  Italian Frigate ITS ESPERO assists MV Ital Glamour after pirate attack

  On the 5 May, the EU NAVFOR warship ITS ESPERO assisted the Italian Merchant Vessel ITAL GLAMOUR after it was attacked by pirates on the previous day. The attack was performed by four armed pirates on board a skiff and was defeated due to the first-class execution of aggressive evasive steering, conducted by the vessel’s master as suggested in the industry lead Best Management Practices (BMP3).

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  Newbuilding orders on a downslide, demolition activity picks up

  In what appears to be good news for the future long-term prospects of the shipping industry, it seems that ship owners’ appetite for newbuilding vessels has abated, while older vessels are finding their way to scrapyards in Asia on a faster pace.

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  Singapore: FSL Trust To Acquire Second Long Range II Product Tanker

  Singapore: FSL Trust To Acquire Second Long Range II Product Tanker Posted on Jun 14th, 2011 with tags acquire, asia, FSL Trust, II Product, Long, News by topic, range, Second, Singapore, Tanker

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  UK: Fugro Subsea Services Mobilises RRS Ernest Shackleton for Inspection Projects in North Sea

  Fugro Subsea Services mobilised the RRS Ernest Shackleton in Aberdeen for a season of inspection projects in the North Sea. The program will include both pipelines and fixed structures inspections for a number of Fugro Subsea Services North Sea clients.

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  MAN Diesel & Turbo - Power Generation Engines and Synthetic Gas Reactors

  MAN Diesel & Turbo, based in Augsburg, Germany, is the world’s leading provider of large-bore diesel engines and turbomachinery for marine and stationary applications. It designs two-stroke and four-stroke engines that are manufactured both by the company and by its licensees. The engines have power outputs ranging from 47 kW to 97MW.

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  MAN To Bring Motor-Compressor Systems To The Netherlands

  MAN Diesel & Turbo Schweiz AG received a multi-million Euro contract from Abu Dhabi National Energy Co. PJSC (TAQA) for the delivery of compression technology for Bergermeer Gas Storage in Alkmaar, the Netherlands.

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  Singapure: Keppel to Deliver New FPSO to Bumi Armada

  Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver its latest Floating, Production, Storage and Offloading (FPSO) project, Armada TGT 1, to Bumi Armada Berhad (Bumi Armada)

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  West Australian Shipbuilder Austal to Build Eight Patrol Boats

  Minister for Home Affairs, Brendan O’Connor, today announced the preferred tenderer to build the next generation of patrol boats to secure Australia’s borders.

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  UK: Seacat Services Orders Two South Catamaran 19m WFSV

  South Boats Special Projects Ltd. and Seacat Services Ltd. announce the two companies have signed a contract for the construction of a pair of South Catamaran 19m Wind Farm Support Vessels. The two craft will be built at South Boats’ new facility in Cowes and will be delivered in May and June 2012 respectively.

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  South Korea: COSCO Group Holds Christening Ceremony for Two 13100 TEU Container Ships

  The christening ceremony for MV. COSCO Glory and MV. COSCO Pride, two of the series of 13100TEU container ships built by Ulsan Shipyard of Hyundai Heavy Industry (“HHI”), was attended and witnessed by Capt.

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  Sweden: Concordia Maritime Takes Delivery of Product Tanker Stena Premium

  Concordia Maritime has taken delivery of the product tanker Stena Premium, which will soon enter into a 3-year charter contract with Glencore subsidiary ST Shipping.

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  FreeSeas Announces Extension and Reduction of Exercise Price of Class Z Warrants

  FreeSeas Inc., a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize and Handymax vessels, announced yesterday that it is extending

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  Euroseas Ltd., an owner and operator of drybulk carriers and container vessels

  Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced yesterday that a subsidiary of the Company has entered into time charter agreement

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  Daewoo Shipbuilding & Marine Engineering (DSME)

  In the world's shipbuilding market including European and American markets that sustain the world's largest economy, the vessels built by DSME are appreciated as "ships of the finest quality" in the world. Major oil

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  MV Yuan Xiang Released by Pirates

  Earlier this week, EU NAVFOR confirmed that on 8 May the MV Yuan Xiang had been released from pirate

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  Maersk N. American HQ welcomes HRH The Prince Consort of Demark

  HRH The Prince Consort of Denmark visited the North American headquarters of Maersk in Madison, NJ, today. The Prince Consort met with Chairman and CEO of Maersk Inc. J. Russell Bruner, Chief Financial Officer Maersk

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  Jyrki Laurikainen appointed Facility Director

  Mr Jyrki Laurikainen has been appointed Facility Director in Wärtsilä Corporation as of March 1, 2011. Mr Laurikainen will report to Raimo Lind, Executive Vice President & CFO.

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  Wartsila at CIS Railway Council exhibition

  Wärtsilä attends the CIS Railway Council meeting exhibition at the Finlandia Hall in Helsinki 18-19 May 2011. In addition to Wärtsilä, VR Group (the Finnish railway company),

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  Residential area construction work at Wärtsilä’s former yard in Turku started

  The construction work at the old Wärtsilä yard by the river of Aura in Turku has started. A new residential area will be built in the grounds that Wärtsilä Corporation owns.