After decades where shipbuilding was a sick industry, a rush of orders for modern vessels has booked out dockyards around the world for years ahead. Operators who order ships today must expect to wait till 2009 or 2010 for delivery. European yards, able at last to earn profits again, have boosted th
Plans for a new
Petroleum Geo-Services ASA (“PGS” or the “Company”) (OSE and NYSE: PGS) has introduced as a regular routine to report vessel utilization around the end of each quarter and announced today that its seismic vessel fleet used approximately 50% of its total time to acquire marine contract seismic in the
The smallest boat to cross the Atlantic has once again returned to Falmouth, 13 years to the day after she sailed into the record books. Taking the limelight in a forthcoming exhibition at the Maritime Museum, this time her return is for good. The quirky 5ft 4 inch Father’s Day was transported to Fa
A freighter loaded with grain ran aground Monday just off Vancouver’s Stanley Park, blocking shipping traffic and snarling vehicle traffic as drivers gawked from the Lions Gate Bridge high above. The Malta-registered Krateros hit bottom at about 4:45 p.m. “It suffered a major malfunction, causing it
An action plan aimed at securing the long-term future of Scotland’s fishing industry has been launched by the Scottish Executive. The stock management plan has been developed by the industry. Fisheries Minister Ross Finnie believes it shows there is a lot to look forward to after years of pessimism.
VT Halter Marine and NOAA furthered their relationship this week with the announcement that the Moss Point shipbuilder will build a fifth ship for the agency. The National Oceanic and Atmospheric Administration awarded Halter a contract Monday to build the SWATH CMV, a dual-hull vessel that will map
With military ties growing, the US is transferring one of its amphibious ships ‘USS Trenten’ to India to give the Indian Navy the capability to move troops and equipment to greater distances, a top American Commander has said. The transfer is expected to take place sometime this December, Commander
The Halifax Shipyard is getting back into building ships. Irving Shipbuilding Inc. has won a contract to build a small cruise ship for Pearl Sea Cruises of Connecticut. Although there is no firm commitment on a second vessel, it is expected another ship will be also be built in Halifax. Charles Robe
Overseas Shipholding Group Inc. has a definitive agreement to acquire Maritrans Inc., one of the Tampa Bay area’s largest public companies, for $455 million. Terms call for New York-based Overseas Shipholding (NYSE: OSG) to acquire Maritrans in an all-cash transaction for $37.50 a share, a 47 percen
The first two Damen Axe Bow vessels have been delivered to Oceanteam, with office in Amsterdam, the Netherlands. The vessels will be leased by Diavaz for operation in deep water in the Gulf of Mexico. The vessel’s axe shaped bow maximises the waterline length and prevents the bow from coming out of
Keppel FELS Limited (Keppel FELS) has secured a repeat order for an ultra-deepwater semisubmersible (semi) drilling rig from a wholly-owned subsidiary of ENSCO International Incorporated (ENSCO). The total project value is approximately US$385 million. To be named ENSCO 8502, the semi is scheduled f
Frontline Ltd. (“Frontline” or the “Company”) has agreed to sell its VLCC Front Beijing, which was delivered in 2006, for gross sale proceeds of $141.5 million. Delivery to the buyers is expected to take place in November 2006. This transaction will give a positive result of approximately USD 59 mil
Hyundai Heavy industries Co. (KSE:009540), the world’s biggest shipyard, has clinched a US$1.6 billion order for an offshore platform project in the United Arab Emirates (UAE), the largest single order in the industry. Hyundai Heavy and the UAE’s state-run oil and gas firm, Abu Dhabi Marine Operatin
