Business & Finance
Austal Ready to Commence Production in Its Philippine Shipyard
Austal has allocated its first shipbuilding project to its recently acquired shipyard in the Philippines. Construction of the vessel will commence in the first quarter of this year, and provide work through to November. Austal acquired the shipyard in the West Cebu Industrial Park in Balamban, Cebu
UK: BAE Systems Starts Construction of Second Queen Elizabeth Class Aircraft Carrier
Production on HMS PRINCE OF WALES, the second Queen Elizabeth Class aircraft carrier, has started today at BAE Systems in Portsmouth Naval Base – the future home of the Queen Elizabeth Class. Work on the forward section of the hull, known as Lower Block 02, commenced as Commander-in -Chief Fleet Adm
Norway: Aker Solutions 4Q Revenues Up 18 pct
Aker Solutions reported an 18 percent increase in revenues and a solid operating result in the fourth quarter of 2011, reflecting strong market conditions and high activity in the oil and gas industry. Revenues in the fourth quarter of 2011 amounted to NOK 11 600 million, compared with NOK 9 794 mil
Romania: OceanServer Delivers Two Iver2 AUVs to SC Marine Research SRL
OceanServer Technology, Inc. has recently delivered two AUVs to SC Marine Research SRL located in Bucharest, Romania. Marine Research is a new and dynamic company devoted to the research of aquatic environments in and around Romania. The two IVER2 systems will initially be used to map the sea bottom
Greece: Globus Maritime Announces Redelivery of Vessel
Globus Maritime Limited, a dry bulk shipping company, announced redelivery of vessel by Charterers outside the dedelivery range and without replenishment of bunkers. Specifically, Allied Maritime Inc., the Charterer of the m/v Star Globe, a 2010-built 56,867 dwt Supramax bulkcarrier, informed Compan
Statoil, ExxonMobil Find Gas Offshore Tanzania
Norway’s Statoil and its U.S.-based partner ExxonMobil confirm that the Zafarani-1 well in Block 2 offshore Tanzania has encountered indications of natural gas in a good quality reservoir. Drilling operations are still on-going and it is too early to give any indication of size and commerciality. Th
2011: An Outstanding Year for Apache, CEO Says (USA)
Apache Corporation today reported that record production and strong oil prices combined to generate record full-year 2011 earnings of $4.5 billion or $11.47 per diluted common share, up 50 percent from $3 billion or $8.46 per share in 2010. Production increased 14 percent to 748,000 barrels of oil e
Wind Energy Giants to Receive GBP 250 Million (UK)
Two wind energy giants receive up to GBP 250 million a year in subsidies, reports North West Evening Mail A Swedish company, Vattenfall, which owns six windfarms in Britain, including the Ormonde windfarm off Walney, will receive GBP 139 million. Dong Energy, a wind power company from Denmark, with
Finland: Eckero Line to Acquire New Ship for Helsinki-Tallinn Route
Eckero Line will reportedly obtain Moby Freedom, a new ship for Helsinki-Tallinn route, which will replace the old Norlandia as soon as she retires. Constructed in South Korea by DSME in 2001, Moby is currently operating in Italy between Rome and Sardinia. Prior to entering service, Moby will underg
ConocoPhillips Unloads Vietnam Assets for USD 1.3 bln
ConocoPhillips annonces that it has entered into an agreement to sell its Vietnam branch for a total of $1.29 billion plus customary working capital adjustments. The U.S. oil giant has entered into definitive agreements with Perenco to sell its three wholly-owned subsidiaries that separately hold it
France: Technip Confident about Future. Reports Record Net Income
Looking ahead to 2012, Technip, one of the world’s largest provider of specialized services for the oil and gas industry, said today that the company’s clients show confidence in oil and gas prices and continue investing to meet challenging production targets. Success in their exploration programs,
USA: Verdant Power Installs 30 Turbines for Roosevelt Island Tidal Energy Project
As part of the Roosevelt Island Tidal Energy project, 30 turbines are being installed along the strait that connects the Long Island Sound with the Atlantic Ocean in the New York Harbor. The project, led by Verdant Power, Inc., is the first ever commercially licensed tidal energy project in the Unit
USA: Oceaneering Achieves Highest Annual Earnings in its History
Oceaneering International, Inc. reported record fourth quarter and annual earnings for the periods ended December 31, 2011. For the fourth quarter of 2011, on revenue of $574.2 million, Oceaneering generated net income of $58.3 million, or $0.54 per share. During the corresponding period in 2010, Oc
Singapore: Asean Protector Begins Cable Laying for Changi East Project
Maritime and Port Authority of Singapore (MPA) informs the shipping, harbour craft and pleasure craft communities in Singapore’s waters that the submarine cable installation works in the vicinity off Changi East will start next week. The submarine cable installation will entail pre-trenching works,