USD 81 billion will be spent on Floating Production and Storage units (FPS) between 2015 and 2019, 73% more compared to 2010-2014, despite the current low oil price environment, the market analysts from Douglas-Westwood project in their ”World Floating Production Market Forecast 2015-2019.” The valu
China Harbour Engineering Company (CHEC) has won a $40.8 million (AED150 million) contract for the marine and infrastructure works at Al Hamra’s Falcon Island project in Ras Al Khaimah, the UAE’s most northern emirate. Designed to house the first LEED Platinum Certified real estate of its kind in th
JR Shipping Takes Over Universal’s Bankrupt Vessels Harlingen-based JR Shipping Group is taking over six container feeder vessels from Universal Marine upon request from Dutch Bremer Landesbank, the principal financier of the shipping CVs which operate the vessels.…Read more Shipowners Still Not Sol
Order Placed for World’s Largest Cutter Suction Dredger Jan De Nul Group has placed an order for a large self-propelled cutter suction dredger JDN8069 with the Croatian shipyard Uljanik Brodogradiliste. Boskalis, Van Oord Sign Rio de Janeiro Dredging Contract Edinho Araujo, head of the Special Ports
The Philippine-based container terminal operator International Container Terminal Services, Inc. (ICTSI) handled 7,438,635 TEUs in 2014, 18% more than 6,309,840 TEUs reported in 2013, chalked up to the start of the new operations in Mexico and Honduras, the consolidation of terminal operations in Ya
The National Shipping Company of Saudi Arabia (Bahri) is planning to raise around USD 1 billion through the sale of a ten-year sukuk by the end of March, a company executive was reported as saying by the local news site Arabian Business. The proceeds of the sale are planned for debt repayment and ge
E-marine, a provider of submarine cable installation and repair solutions in the Middle East and Sub-Continent region, has unveiled plans to expand its fleet of cable ships in 2015, with the first ship, the CS Maram, beginning dock trials ahead of its maiden voyage this year. The CS Maram, which was
The international shipping association BIMCO has launched a new, three-part guidance resource called Guide to Maritime Environmental & Efficiency Management, to support ship owners and operators in improving their environmental performance and the efficiency of their ships. Developed in partnership
A series of eight new 33,000 DWT chemical tankers under construction in Asia will feature Wärtsilä Aquarius UV Ballast Water Management Systems (BWMS), certified for explosion proof (EX) requirements, the Finnish company says in a release. This means that the BWMS units can be installed in Zone 1 ha
McDermott International has been awarded a contract for a new jacket, temporary deck and replacement umbilical by Qatar Petroleum for the North Field Alpha gas development, offshore Qatar. According to the company, work is expected to be executed through the second quarter of 2016 and will be includ
McDermott has been awarded initial work for a significant power supply system replacement contract by Saudi Aramco for the Marjan field, offshore Saudi Arabia. Work is expected to be executed through the fourth quarter of 2016 and will be included in McDermott’s first quarter 2015 backlog. The overa
Israeli police have arrested 17 employees of an unnamed international company operating at the Ashdod Port, suspected of embezzling millions of dollars through tax evasion, The Times of Israel reports. Over 200 police officers stormed the storehouses at the port early Monday morning, and arrested th
McDermott Middle East, Inc. has been awarded initial work for a significant power supply system replacement contract by Saudi Aramco for the Marjan field, offshore Saudi Arabia. Work is expected to be executed through the fourth quarter of 2016 and will be included in McDermott’s first quarter 2015
McDermott International, Inc. has been awarded a project for a new jacket, temporary deck and replacement umbilical by Qatar Petroleum for the North Field Alpha gas development, offshore Qatar. According to McDermott, work is expected to be executed through the second quarter of 2016 and will be inc
