Although the container shipping market remains fundamentally imbalanced, the new year brings with it fresh hopes for a recovery, according to Alphaliner. 2016 saw a number of records, most of them marking new lows for a container shipping market that continues to suffer from excess capacity, with th
Plexus has been awarded an order for a second well from Masirah Oil, a BVI based company majority owned by REX International Holdings. The new contract will see Plexus supply Masirah with its POS-GRIP Tersus Mudline equipment and 10,000psi adjustable rental exploration wellhead for the Karamah-1 exp
Australian engineering company WorleyParsons has been awarded the renewal of the general engineering services plus (GES+) contract with Saudi Aramco for an additional five years. The engineering company said on Thursday that the contract also has further potential for up to three additional one year
Oil and gas engineering services business Plexus Holdings has received an order for a second well offshore Oman from Masirah Oil. Masirah is a company majority owned by a technology-driven oil and gas company, REX International. Plexus said on Thursday that the new contract would see the company sup
Ocean Energy Systems (OES) has released a report summarized from a workshop held last year that provides analysis of current ocean energy policies in its member countries with recommendations to make them more effective.
The multipurpose shipping market is expected to see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to shipping consultancy Drewry. Dry cargo demand is weak but strengthening with multipurpose shipping market share expe
McDermott has been awarded a contract from Saudi Aramco for the engineering, procurement, construction and installation (EPCI) of four jackets and three gas observation platforms offshore Saudi Arabia. The American EPCI company said on Wednesday that the total weight of all structures combined is 11
The 165,960 dwt containership MSC Clorinda is hindering traffic in the Suez Canal as the vessel stopped in the waterway due to undetermined issues, according to Wilhelmsen Ships Service. According to a spokesperson from Mediterranean Shipping Company (MSC), the containership reported a machinery tra
Global Industry Analysts has released a report that provides analysis of the global market for ocean energy with the main focus on wave energy technologies.
Larsen & Toubro, in consortium with Emas Chiyoda Subsea, has won two engineering, procurement, construction and onstallation (EPCI) contracts from Saudi Arabian oil giant Saudi Aramco. LTHE, a fully owned subsidiary of Larsen & Toubro, said on Monday that the first deal entails the supply and instal
Gulf Marine Services, a provider self-elevating support vessels, has signed a new long-term contract award for one of its mid-size class vessels. GMS said on Tuesday that the new charter is for three years, including options, and is scheduled to begin in early first quarter 2017. According to the co
The shipping industry has its work cut out going forward in 2017 as the period will see another year of die-hard competition, which now includes tankers, according to international shipping association BIMCO. In 2016, the container shipping industry bit the bullet in terms of demolition and consolid
The latest phase of mass consolidation continues to see the container shipping industry sailing in uncharted waters and has emphasized the extent to which liner companies are having to restructure their business models in order to survive, according to Maritime Strategies International (MSI). MSI sa
Subsea World News has put together a recap of the most popular videos of 2016. Top videos include installation of subsea templates on Maria field offshore Norway, setup of the Ayatsil-C jacket in the Bay of Campeche, the construction of the wellhead platform jacket for Maersk Oil’s Culzean field, th
