Business & Finance
Greece: Star Bulk Enters Agreement to Sell Capesize Vessel
Star Bulk Carriers Corp., on Friday, announced that the Company has entered into an agreement to sell the Star Ypsilon, a 150,940 dwt Capesize vessel, built 1991, to a third party for a contracted sale price of $9.12 million. The Company plans to deliver the vessel to the buyers within March 2012. F
Du Repairs Cable Cut between Dubai and Oman
Du reports that its undersea cable between Dubai and Oman has been repaired. The company official says: “We are happy to report that there was no impact on speed and internet browsing experience except for the first hour after the cable cut, prior to diverting traffic from the affected cables. We al
India: Fugro Wins Contract from Reliance Industries
Fugro Singapore has been awarded a major offshore geotechnical investigation contract by Reliance Industries Ltd on the East Coast of India. Fugro will perform geotechnical investigations, laboratory testing and foundation design studies to allow detailed design of subsea infrastructure for the Dhir
Greece: Diana Shipping Announces Time Charter and Loan Facility
Diana Shipping Inc., on Friday announced that it has entered into a time charter contract with EDF Trading Ltd., London, for one of its Panamax dry bulk carriers, the m/v “Coronis”, at a gross charter rate of US$10,600 per day, minus a 5% commission paid to third parties, for a period of about twent
India: Reliance Hires Fugro for Dhirubhai Study
Fugro Singapore has been awarded a major offshore geotechnical investigation contract by Reliance Industries Ltd on the East Coast of India. Fugro will carry out geotechnical investigations, laboratory testing and foundation design studies to allow detailed design of subsea infrastructure for the Dh
Brazil: Petrobras Discovers Oil in Santos Basin
Petrobras on Friday announced a discovery of light oil in ultra-deepwaters of the Santos Basin pre-salt reservoirs, block BM-S-9. The new well, 3-BRSA-1023 (3-SPS-85), named Carioca Sela, is located in the assessment area of 1-SPS-50 (Carioca) field, some 4.5 Km from the discovery well. In this new
China: First Arbitration Hearing for AMSC
On Friday AMSC had its first arbitration hearing with the Beijing Arbitration Commission. AMSC is seeking $70 million for past product shipments and is seeking enforcement of its contracts with Sinovel Wind Group Co., Ltd (Sinovel), which are valued at approximately $700 million. In addition to arbi
Thailand’s PTTEP Lifts Cove Bar to USD 1.77 bln
Thailand’s PTTEP has entered into the race with Shell over Cove Energy’s shares. PTTEP’s President and CEO Anon Sirisaengtaksin revealed that the company would be willing to pay 220 pence for each Cove’s issued or to be issued share. The proposed offer values Cove at approximately USD 1.77 billion w
Two Damen Stan Tugs Commence Duty in Moroccan Ports
Recently, two Damen Stan Tugs 2608, the Ibrahim 1 and the Jacques, were shipped from the anchorage of Halong Bay, Haiphong (Vietnam) to Casablanca by the Atlantic Winter, an 800t lifting capacity HLV chartered by Danish Heavy Lift carrier Thorco from Reederei Heino Winter. After having taken the nec
USA: Cambridge International Attends Clean Energy Forum
Director of governmental affairs for Cambridge International, Dion Banks, represented the company at a State of the Union Roundtable hosted by the White House, the Department of the Interior and the Bureau of Ocean Energy Management (BOEM). The roundtable, conducted by BOEM Director Tommy Beaudreau,
Russia: Vyborg Shipyard to Build Two Diesel-powered Icebreakers
Vyborg Shipyard and United Shipbuilding Corporation yesterday signed contract for the construction of two diesel-powered icebreakers. The contract, worth about RUB 8 billion (approx. $ 272.6 million), was signed by the President of JSC “USC” Roman Trotsenko and General Director of OJSC “Vyborg Shipy
USA: ATP Provides Reserves and Production Update
ATP Oil & Gas Corporation today announced an increase in its estimated year-end 2011 proved and probable pre-tax PV-10 value to $7.3 billion based on SEC pricing, up 52% from $4.8 billion at year-end 2010. ATP also provided an update on production for full-year 2011 which averaged an estimated 24.6
USA: ORE Offshore Adopts EdgeTech Brand Name
ORE Offshore is adopting the EdgeTech brand name. The two divisions have been operating successfully under one roof for many years and the company is excited to continue building its strong reputation under one common name moving forward. The talented engineering, manufacturing and services personne
UK: PD Ports Takes Next Step in Its Expansion Programme
PD Ports has taken the next step in its programme to almost double its container handling capacity at Teesport, with the completion of the ground works in January. The works, which began in January 2011, involved the complete reconstruction of more than five hectares of the container terminal area w