Business & Finance
Germany: Experts to Discuss Challenges and Future Development of Offshore Cabling
One of the key elements in the successful construction of an offshore wind park is the skilful installation of cables – a complicated task that is often subject to huge repair costs. Cable damage causes over 70% of all insurance claims on installed wind parks, which shows that there is great need fo
USA: International Shipholding Corporation Completes Sale of ‘Green Bay’
International Shipholding Corporation announced today that on February 22, 2012, it completed a sale and leaseback transaction for its 2007-built Pure Car Truck Carrier, Green Bay. The Company expects to generate proceeds of about $59 million from this transaction which will be used to pay down debt
TAP Conducts Seabed Survey North of Vlore Offshore Albania
On the 23rd of February the Trans Adriatic Pipeline started a nearshore survey north of Vlore in south-eastern Albania. The purpose is to collect samples of the seabed soil near the Albanian coast along the planned route of the natural gas pipeline, which plans to bring Caspian gas to southern Italy
The Netherlands: VOSTA LMG, APT Global Marine Sign Co-operation Agreement
Beginning of 2012 VOSTA LMG and APT Global Marine Services LLC have signed an agreement for co-operation in the field of Dredger construction, manufacture of components and servicing of dredger vessels operating in the Middle East, North African (MENA) region. VOSTA LMG is a well experienced technic
UK: Dana Buys More Into Bittern
Dana Petroleum plc (‘Dana’), a subsidiary of Korea’s KNOChas reached an agreement with Hess Corporation to acquire Hess’ 28.3% interest in the Bittern field, increasing Dana’s share to 33%. As a result of the transaction Hess will resign the affiliated operatorship of the Triton floating production,
Chinese Firm BGP Starts 2D Seismic Survey in Bay of Bengal
Chinese corporation, BGP, announces the launch of 2D seismic survey for exploration of oil and gas in two blocks of the Bay of Bengal. Energy and Mineral Resources Division secretary says that the survey started this week, and should end by April. BGP was chosen by ConocoPhillips to conduct the surv
Significant Growth for WSS Marine Products in New Zealand
Wilhelmsen Ships Service (WSS) has reported consistent growth and increased market awareness over the last few years for its world-leading portfolio of Marine Products in New Zealand, according to Nigel Smith, WSS General Manager for New Zealand and Pacific Islands. Recently relocated from central c
Norway: Vestland Offshore Orders Havyard 832 Design PSV
Havyard Group AS has sold yet another Havyard 832 design, the 15th of its kind. Yesterday, Vestland Offshore ordered a PSV vessel, with an option for one further delivery. The first vessel to be constructed is of a Havyard 832 L design, whereas the optional ship is of a Havyard 833 design. Both vess
Norway: Havyard Sells PSV to Vestland Offshore
Havyard Group AS has sold yet another Havyard 832 design, the 15th of its kind. Yesterday, Vestland Offshore ordered a PSV vessel, with an option for one further delivery. The first vessel to be constructed is of a Havyard 832 L design, whereas the optional ship is of a Havyard 833 design. Both vess
India: Gujarat State Pursues Tidal Energy Generation Capacity
Gujarat state government has revealed its intention to explore, in the upcoming years, the state’s tidal power generation potential, along with solar energy and wind power, in order to pursue huge power generation capacity. This project has already been granted Rs 25 crore. Gujarat Energy Developmen
DP World Chairman Tours Caucedo Port, Dominican Republic
His Excellency Sultan Ahmed bin Sulayem, Chairman, DP World, underlined the importance of DP World Caucedo in serving the wider Caribbean region as a hub port as he concluded his tour of the company’s marine terminals in South America with a visit to the Dominican Republic terminal. Mr Bin Sulayem w
VBTH Takes Delivery of Its New Dry-cargo Vessel from China
VBTH holding accepted delivery of dry-cargo vessel “Malachite” of DCV36 project into its operation (building No. QHS-305). The vessel was built by Qingdao Hyundai Shipbuilding Shipyard (Qingdao, China). Unlike previous dry cargo vessels series (RSD44 and RSD49 projects) built for the holding, DCV36
Australia: ASCO to Build Marine Supply Base in Darwin
ASCO Group, the world’s leading oil and gas logistics company, has been awarded the contract to build and operate a Marine Supply Base in Darwin, Australia. Work on the $110 million base will commence in April and be completed by the end of 2013. The project is being developed through ASCO’s subsidi
Singapore: Sembcorp’s Full-Year Profit Down 13%
Singapore based Sembcorp Marine reported full year net profit at $752 million amid a volatile and uncertain macroeconomic environment that affected the global markets. Group net profit was 13% lower than in 2010 with earnings per share at 36.13 cents. Return on equity was 30%. Group turnover at $3,9