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China State Shipbuilding Corp. (CSSC) is making plans for an initial public offering on the Hong Kong Stock Exchange to raise at least US$500 million, according to a report in the South China Morning News. The company is reported to be planning a share sale for the first half of next year and has en
Ship Finance International Limited (“Ship Finance”) is pleased to advise the purchase of the 1997 built Panamax M/V Rainshadow for $28.4 million from Golden Ocean Group Limited (“Golden Ocean”). The vessel is chartered back to the seller Golden Ocean for a period of ten years at a bareboat rate of $
Martinus Brandal, former Executive Vice President of Aker ASA today assumes the role of President and CEO of Aker Kvaerner, succeeding Inge K. Hansen. Hansen joins Aker ASA as a consultant to the group’s management. “Taking over the helm of Aker Kvaerner from Inge Hansen is like taking over a ship t
Fitzroy Engineering estimates Taranaki might secure as much as $200 million of work from the nearly $1 billion Kupe gasfield project. Kupe joint venture owners announced on Thursday they were going ahead with the development. It has been estimated to cost $980 million and deliver 253 petajoules of g
This trading update is aimed at providing estimates regarding revenue and trading conditions experienced by BP in the second quarter ended June 30, 2006, and estimates of identified non-operating items expected to be included in that quarter
It is intended to construct a shipyard in Garadagh District, Baku on the basis of ship repair establishment there. Azerbaijan State Caspian Sea Shipping Company chairman Aydin Bashirov told journalists that there are 4 ship repair establishment in Baku.
Valencia is in mourning today after a train derailed in the city
A salvage team will try to remove containers tonight from a ship which ran aground on a sandbank near the East London harbour last week, the National Ports Authority (NPA) said. “We are preparing equipment and the heavy lifting crane that arrived here today (Monday), and as soon as that is done we w
A NEW ship repair business has been launched in Bromborough, Wirral (UK), which aims to build new vessels and could bid to break up toxic “ghost ships”. The Merseyside Slipway Company is a joint venture between Liverpool-based Mersey Heritage Ship Repair and Warbreck Engineering
Several large vessels have run aground on Michigan’s Saginaw River this shipping season, caught in shallow waters a few miles from Lake Huron. The river port is as shallow as 13 feet in a passage that is supposed to be 22 feet deep, a sign of low water levels in North America’s five Great Lakes [&he
Vietnam will halve the number of its onshore fishing ships and boats by 2010 to protect depleting marine resources, according to the country’s Fisheries Ministry on Monday. The reduction is necessary since marine resources in some coastal provinces have shown signs of depletion, while waters near se
The Company has completed the sale to Malaysian International Shipping Company Sdn Bhd (MISC) of two group companies respectively owning and operating the Roncador (Brasil) FPSO, which is currently on a long term charter to Petrobras. This intended transaction was announced by way of press release o
Emirates Team New Zealand heads in to the
