Business & Finance
Product Tanker BW Rhine Released off Nigeria
Product tanker BW Rhine has been released off Nigeria by its captors. All 24 crew members are safe. At 0630 UTC today, communications were re-established with the vessel. The Master of BW Rhine Captain Dheeraj Sharma confirmed that the vessel has been held under duress while the cargo was being stol
Apache: Record Worldwide Production in 1Q (USA)
Apache Corporation reported record worldwide production in the first-quarter of 2012 as the company benefitted from higher prices for oil and natural gas liquids and its balanced approach helped it weather the continuing deterioration of North American natural gas prices. Daily production increased
Norway: STX OSV Strengthens Specialist Technology with New Acquisitions
STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, announces that it is strengthening its technology and engineering competence through two separate transactions. Seaonics AS (“Seaonics”), a subsidiary of STX OSV, is in the p
UK: SeaEnergy Announces 2011 Results
SeaEnergy PLC announces its audited results for the year ended 31 December 2011. Financial Summary The clear financial highlight of 2011 was the conclusion of the sale of SERL to Repsol Nuevas Energias UK Limited. This resulted in the Group recording a profit of £25.3 million for the financial year
Norway: T.D. Williamson Introduces Remote-Controlled Subsea Tapping Machine
T.D. Williamson (TDW) announced the successful development and field deployment of the Subsea 1200RC Tapping Machine, its new compact remote-controlled subsea hot tapping machine.The system, which is extremely lightweight, allows hot tapping to be carried out from the safety of a Diving Support Ve
Oman: Salalah Port Expansion Plans Announced
Oman’s Ministry of Transport and Communications has awarded a commercial bid representing investment of OMR 55 million ($143 million USD) to more than double the Port of Salalah’s general cargo handling capacity. The project will increase dry bulk cargo handling capacity to 20 million tons and liqui
Canada: SubC Control Unveils 1Cam HD-SDI Underwater Camera
SubC Control unveils new feature to its underwater imagery product range, the 1Cam HD-SDI camera. The 1Cam HD-SDI has all the great features as the original 1Cam, the only difference is the 1Cam HD-SDI outputs live 1080 60p over a single coax. This ultra high quality digital signal is easily transmi
MV Titania Gets New Becker Intelligent Monitoring Systems (Germany)
The first Becker Intelligent Monitoring System (BIMS) was recently installed on the new Car Carrier MV Titania of Wilh. Wilhelmsen. BIMS is an innovative development to enhance capabilities of high-performance manoeuvring. The new system is monitoring current forces and torque on the rudder while pr
NOAA Provides Measures to Protect Marine Life During Shell’s O&G Exploration in Alaska
NOAA’s Fisheries Service is issuing two incidental harassment authorizations to Shell for energy exploration activities in shallow… [mappress] Source: NOAA , May 04, 2012
Germany: GL – New Rules for Offshore Wind Service Vessels
Germanischer Lloyd (GL) announces the release of the first comprehensive set of classification rules for Crew Boats and Offshore Wind Farm Service Craft. As the energy industry expands and installations are pushed ever further offshore and into more challenging environments, the vessels servicing th
Germany: HOCHTIEF Expects Brighter Future After Setbacks in 2011
HOCHTIEF went through many challenges in 2011: The Group’s strong operating business with a new record order backlog of almost EUR 49 billion was countered by severe setbacks in two projects and its Habtoor Leighton joint venture (Dubai). The Group was unable to offset them in full and incurred an o
Germany: HOCHTIEF Expects Brighter Future After Setbacks in 2011
HOCHTIEF went through many challenges in 2011: The Group’s strong operating business with a new record order backlog of almost EUR 49 billion was countered by severe setbacks in two projects and its Habtoor Leighton joint venture (Dubai). The Group was unable to offset them in full and incurred an o
Norway: Kongsberg Reports Solid First Quarter Results
Kongsberg Gruppen (KONGSBERG) reported a solid first quarter in 2012. Q1 operating revenues came to MNOK 3 836, and the EBITA totalled MNOK 482. This resulted in an EBITA margin for the Group of 12.6 per cent, compared with 13.8 per cent in Q1 2011. Earnings per share (EPS) came to NOK 2.66 in Q1 [&
Singapore: FSL Trust Announces Second Time Charter Contract with Petrobras
FSL Trust Management Pte. Ltd. (“FSLTM”), as trustee-manager of First Ship Lease Trust (“FSL Trust” or the “Trust”) announced that its product tanker, ‘FSL Hamburg’, will be chartered to Petròleo Brasileiro S.A. (“Petrobras”) on a three-year time charter contract. This will be FSL Trust’s second tim