Business & Finance
DP World Chairman Inspects Progress of Embraport Project, Brazil
HE Sultan Ahmed Bin Sulayem, Chairman, DP World, together with a high-level delegation, has inspected progress on the first phase of the terminal operator’s Embraport project, the largest Brazilian private multi-modal port terminal in the city of Santos. The first phase of Embraport (Empresa Brasile
Norway: Statoil Orders Aker Solutions’ Subsea Trees for Troll
Statoil has awarded Aker Solutions a contract for delivery of six subsea trees and a tool package for Troll field on the Norwegian continental shelf. Estimated contract value is NOK 350 million (USD 60.2 million). Under the contract, Aker Solutions will suppy six subsea trees, with a possible option
CBO Takes Delivery of its New ULSTEIN Design PSV in Brazil
The platform supply vessel ‘CBO Atlântico’ is delivered. She is the first of six ULSTEIN designed X-BOW® vessels to be built in Brazil, and the very first of the PX106 design. The vessel was constructed at Estaleiro Alianca shipyard in Rio de Janeiro, Brazil, for shipowner CBO (Companhia Brasileira
Norway: Aker Solutions to Deliver Subsea Trees for Statoil’s Troll
Aker Solutions has been awarded a contract by Statoil to deliver six subsea trees and a tool package for Troll on the Norwegian continental shelf. Estimated contract value is NOK 350 million. Scope of work includes six subsea trees, with a possible option for nine further subsea trees, including con
UK: Petrofac Announces Acquisition of KW Limited
Petrofac, the international oil & gas service provider, announces that it has acquired the entire share capital of KW Limited (KW). Based in Fetcham, near Woking, with an office in Aberdeen, KW is a high-end subsea pipeline consulting and engineering services business with an established reputation
France: Technip Releases Record Fourth Quarter Results
On February 14, 2012, Technip’s Board of Directors approved the audited full year 2011 consolidated accounts. FULL YEAR 2011 RESULTS • Revenue of €6,813 million, of which €2,972 million in Subsea • Group operating margin1 of 10.4% • Net income of €507 million « Fourth quarter 2011 order intake of €2
Malaysia: Shin Yang Shipping Buys Over 20 Vessels from Swee Joo Bhd
Shin Yang Shipping Corp Bhd (Syscorp) has purchased over 20 vessels from Swee Joo Bhd, one of Sarawak’s oldest and most established shipping firms. Swee Joo is facing voluntary liquidation due to insolvency since the company has failed to resolve the borrowed amount of RM460mil. Syscorp chief execut
USA: Hornbeck Offshore Expands BoD
Hornbeck Offshore Services, a company which has recently entered one of the largest newbuild programs in the market of offshore vessels, announced yesterday that Nicholas L. Swyka has been appointed to its Board of Directors (the “Board”), effective February 14, 2012. In connection with Mr. Swyka’s
Greece: TOP Ships Announces Corporate Developments
TOP Ships Inc. , an international maritime shipping company that provides transportation services for crude oil, petroleum products, and dry bulk commodities, announced today that the Company’s Board of Directors voted unanimously to reduce the size of the Board of Directors from seven Directors to
Russia: Hydrographic Ship GS-86 Returns from Survey Mission in Black Sea Fleet
Black Sea Fleet (BSF) hydrographic ship GS-86 returned from survey mission in the Black Sea Fleet. Within the responsibility zone of BSF Hydrographic Service spreading from Ai-Todor Cape to Tarhankut Cape, the crew has performed night inspection of lighthouses and marine lights, tested leading beaco
Guinea: Hyperdynamics Finds Oil Traces in Sabu-1 Well
Hyperdynamics Corporation announced that the Hyperdynamics-operated Sabu-1 exploration well reached the planned total depth of 11,844 feet in a water depth of 2,329 feet, approximately 90 miles southwest of Conakry, Guinea. The well encountered oil shows while drilling the targeted Upper Cretaceous
EBDG to Design New Steel Ferry for Beaver Island Transportation Authority, USA
Elliott Bay Design Group (EBDG) won a contract to design a new 150 ft. steel ferry for the Beaver Island Transportation Authority. The 150‐passenger, 24‐vehicle ferry will be operated by the Beaver Island Boat Company and will replace a 50‐year‐old vessel serving the small Island in Northern Lake Mi
Switzerland: ABB Reports Solid Fourth Quarter Results
ABB reported an increase in profitability in the fourth quarter of 2011 on a combination of strong revenue growth and cost savings. For 2011, the company reached $40 billion in orders for the first time ever and reported record revenues of $38 billion. Operational EBITDA, the measure of profitabilit
ExxonMobil Man Joins Tap Oil (Australia)
Tap Oil Limited (Tap) has appointed Dr Douglas Schwebel to its Board of Directors effective on this day, 16 February 2012. Dr Schwebel has over 30 years experience in the resources sector, having held various senior executive positions with ExxonMobil, including Exploration Director for its Australi