Unique Maritime Group (UMG), one of the world’s leading integrated turnkey subsea and offshore solutions provider, announces a pivotal strategic equity investment from Blue Water Energy. Founded in 1993, UMG is a specialist in the provision of services, and the sale and rental of equipment for the m
The biggest cargo shipping company in Israel ZIM and the state of Israel have reached an agreement regarding the terms of the Golden Share, allowing ZIM to execute the restructuring agreement. ZIM said that it was preparing to complete the restructuring agreement according to the planned schedule.
Kazakhstan’s infrastructure development at the Port of Aktau, and in Khorgos in the east of the country is gaining momentum. A special ceremony held early this month saw the President of Kazakhstan, HE Nursultan Nazarbayev, inaugurate the construction of the new Khorgos Special Economic Zone (SEZ)
Iran’s leading oil tanker firm NITC still has a long and arduous way ahead in the effort to reach its pre-sanction export levels, in spite of the EU General Court’s ruling against the EU’s 2012 blacklisting designation of the company. NITC, sanctioned both by the EU and the United States, conteste
DP World Vice Chairman HE Jamal Majid bin Thaniah has visited the Port of Aktau to meet the Honorable Prime Minister of Kazakhstan HE Karim Masimov as part of their review of Kazakhstan’s infrastructure development at the Port of Aktau, and in Khorgos in the east of the country. A special ceremony h
VOSTA LMG successfully delivered Crossover ball joints to several customers in the Middle East. The Crossover ball joint is a new and efficient dredge ball joint that provides optimal flow performance. Through computational fluid dynamics (CFD) the frictional losses and turbulence have been reduced
The new Tier 4 Final/Stage IV-compliant EC250E and EC300E crawler excavators from Volvo Construction Equipment are powerful and efficient machines, designed to reduce fuel consumption and increase productivity. New Volvo EC250E and EC300E crawler excavators deliver a 5 percent improvement in fuel ef
Petrobras facing $15B loss in case of SBM Offshore contracts termination Petrobras, Brazil’s state-controlled oil company, has said that it may have a reduction of $15 billion in net income between 2014 and 2018 in case of termination of current contracts with SBM Offshore. Offshore helicopter saf
AMT Explorer Sinks with Prysmian’s Cargo Cable barge AMT Explorer sank on Thursday, July 3 around 50 miles southwest of Sardinia while carrying Prysmian’s power cables to the North Sea. Boat Smashes into Norwegian Oil Rig, 60 Workers Evacuated A moving supply boat has smashed into the suspension l
Hyundai Heavy Industries Co., Ltd. (HHI) has received a Letter of Award (LOA) from Abu Dhabi Marine Operating Company (ADMA-OPCO) for the second package of the Nasr Full Field Development Project. A $1.94bn contract includes building of the fixed platforms, and laying of subsea cables. As per the
All existing passenger ships of 500 gross tonnes and all new cargo ships of 3,000 gross tonnes are required to carry ECDIS from their first survey after 1 July 2014. In 12 months time, on 1 July 2015, this will be further extended to include all existing tankers of 3,000 gross tonnes, extending to
Dragon Oil plc, an international oil and gas exploration, development and production company, has published a quarterly update on the drilling activity in the Cheleken Contract Area, Turkmenistan, and its exploration assets in the second quarter of 2014 and production numbers for 1H 2014. Turkmenist
Hyundai Heavy Industries Co., Ltd. (HHI), the world’s biggest shipbuilder and a leading offshore facilities contractor, announced that it received a Letter of Award (LOA) for a USD 1.94 billion order for the second package of the Nasr Full Field Development Project to build the fixed platforms and t
Hyundai Heavy Industries Co., Ltd. (HHI) has announced today that it received a Letter of Award for a USD 1.94 billion order for the second package of the Nasr Full Field Development Project to build the fixed platforms and to lay subsea cables from Abu Dhabi Marine Operating Company (ADMA-OPCO) on
