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Two Years

Transocean Inc.’s Nautilus Receives Two-Year Contract Extension

Transocean Inc. announced that a subsidiary of Royal Dutch Shell (Shell) has awarded a two-year contract extension for the company's Fifth-Generation moored semi-submersible rig Deepwater Nautilus. The two-year contract extension is expected to commence in December 2006, in direct continuation of the rig's current contract. Revenues of approximately $310 million could be generated over the two-year extension period, excluding revenues for mobilization, demobilization and client reimbursables. The Deepwater Nautilus is currently operating for Shell Exploration and Production in the U.S. Gulf of Mexico and is expected to continue drilling operations for the remainder of 2005 and into 2006 before requiring an estimated 60 days of out-of-service time during 2006 to complete repairs of all remaining storm-related damage, which pertains mainly to the rig's mooring system. The rig, which entered service in 2000 following its construction in Ulsan, South Korea, is capable of operating in water depths of up to 8,000 ft.


Atwood Oceanics Announces Vicksburg Contract

Atwood Oceanics, Inc. (a Houston based International Offshore Drilling Contractor) said that the VICKSBURG (owned and operated by its wholly owned subsidiary Atwood Oceanics Pacific Limited) has been awarded a two-year contract by Chevron Overseas Petroleum (Thailand) Limited ("Chevron") which will immediately follow Chevron's current eight (8) month drilling commitment offshore Cambodia. The VICKSBURG is presently working in Malaysia under drilling commitments with dayrates of $82,000 to $87


Oil Price Just Down From Two-Year Highs Set Last Week

Oil markets placed another bet on tightening supply, supporting prices in the vicinity of 22-month highs touched last week. Benchmark Brent for September hit $20.87 a barrel today, just 13 cents off a Friday peak of $21 that was the crude's highest value in almost two years.


IOS Announce Charter Contracts

P/R International Offshore Services ANS (IOS), which is a 50/50 joint venture between Farstad Shipping ASA and P&O Australia, has contracted two anchor handling support vessels at the Simek AS yard in Norway. Delivery of the vessels will take place in March and July 2003. The vessels are a new type of UT 712 of 12,240 bhp with DP and a double drum 370 tonne winch for employment in international markets. IOS has also entered into a two year time charter with Phillips in Australia for the


Canada Invests in Nova Scotia Small Craft Harbours

Photo courtesy of Halls Harbour NS

The Government of Canada will invest $10.2 million in maintenance, repair, construction and dredging projects at small craft harbours in Nova Scotia, as part of a country-wide $63 investment in core fishing harbours. “Small craft harbours play a vital role in securing the prosperity of our coastal communities in Nova Scotia,” said the Honourable Gail Shea, Minister of Fisheries and Oceans. “The investment announced today shows our Government’s commitment to providing


Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

  German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said. Chief Executive Frank Asbeck justified his intention by saying Chinese panel makers would still receive unfair state subsidies, according to the magazine. It was based on this reasoning that the German solar energy pioneer succeeded in getting the duties imposed in the first place.


BP Vietnam Awards PTSC/Canyon Two-Year Vessel / ROV Contract

PTSC Production Services and Canyon Offshore have entered into a two-year contract with BP Vietnam to provide a DP Vessel, Remotely Operated Vehicles, Survey and Positioning, and engineering solutions to support BP’s operations offshore Vietnam. Under the terms of the contract Canyon Offshore in conjunction with Petroleum Technical Services Company (PTSC), a division of Vietnam Oil and Gas Corporation, will mobilize Scorpion 25


Koike Aronson - Buyer Financing & Warranty

At a time when many industrial operators are having trouble securing credit, Koike Aronson/Ransome Inc. has joined with a major capital equipment lender to offer Equipment Leasing Financing to Koike’s customers in the U.S. and Canada. Koike Aronson’s business units and field representatives now have the ability to provide their customers with an indicated monthly payment, using a $1 buyout or a 10% purchase option, with terms of 36, 48 or 60 months.


Siem PSV Chartered by Petrobras

Siem Atlas (courtesy Siem Offshore)

Siem Offshore and Petrobras have entered into a charter agreement for the Platform Supply Vessel (PSV) Siem Atlas. The charter period has commenced and is for a firm period of two years. Petrobras has an option to extend the charter for two additional years, upon terms to be mutually agreed.   The gross contract value for the firm period is approximately $26 million. siemoffshore.com


MPA to Groom Maritime Talents

Image: Maritime and Port Authority of Singapore

 The Maritime and Port Authority of Singapore (MPA) is rolling out a series of new manpower schemes to attract, develop and retain local talent in the maritime sector.   The Government will set aside S$12 million over the next two years to roll out a series of manpower schemes.   Some 5,000 individuals are expected to benefit from the new manpower schemes, which will be rolled out progressively from May 1, 2016.  


Anthony and Nicolás Remain on Hapag-Lloyd Board

Photo: Hapag-Lloyd AG

 Hapag-Lloyd AG has announced the continuity in the executive management - Anthony J. Firmin remains COO and Nicolás Burr remains CFO.   The Supervisory Board of Hapag-Lloyd AG extended the Executive Board contracts of Anthony J


Gazprom to Cement LNG Ties with Kuwait

Lena River gas carrier. Photo: Gazprom

 Russia-based energy company Gazprom has negotiated about supplies of liquefied natural gas (LNG)  to Kuwait, reports Tass.   The talks continue in "a rather progressive mood,"during the the Energy Minister Alexander Novak’s visit to the Middle East country


Baltic Index Rises on Strong Demand for Larger Vessels

© Lidian Neeleman / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a more than two-year high on Monday on higher demand for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Streaks to Highest Level since 2014

© corlaffra / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued its gaining streak on Tuesday with a fresh more-than-two-year high, driven by strong demand for large iron ore vessels. The overall index, which factors in rates for capesize


Panama Canal to Launch Vessel Scheduling and Management System

A view from inside the Panama Canal’s Marine Traffic Control Center, responsible for the scheduling, coordination and monitoring of vessel traffic through the Panama Canal. (Photo: ACP)

In response to growing traffic through the waterway, the Panama Canal has announced that it will launch a state-of-the-art vessel scheduling and maritime resource management system to further optimize costs, improve safety and increase the overall efficiency and reliability of the service it


China Pledges Firm Response to Japan's S.China Sea Visit

China on Thursday pledged a firm response if Japan stirs up trouble in the South China Sea, after Reuters reported on a Japanese plan to send its largest warship to the disputed waters.   The Izumo helicopter carrier, commissioned only two years ago, will make stops in Singapore, Indonesia


EU Lawmakers Reject Call for Ban on Arctic Oil Exploration

© ggw / Adobe stock

The European Parliament rejected a call to ban Arctic oil and gas exploration on Thursday, in a symbolic vote seen as a barometer for future moves by Brussels to regulate to protect the region. Lawmakers who back the ban, which had drawn the ire of Norway


Dinh-Zarr to Serve as NTSB Acting Chairman

Bella Dinh-Zarr (Photo: NTSB)

Christopher A. Hart’s term as Chairman of the National Transportation Safety Board concluded on schedule Wednesday and Vice Chairman Bella Dinh-Zarr will serve as the agency’s acting chairman.   Hart will remain at the NTSB


Eley to Take over as Polarcus CEO

Duncan Eley (Photo: Polarcus)

Duncan Eley has been appointed chief executive officer of Oslo listed offshore geophysical services company Polarcus Limited, replacing Rod Starr, who has resigned following a two year reorganization period.   Eley has been promoted to the CEO role from his current position as chief


Martek Named on EU Maritime Drone Contract

Photo: Martek

Martek Marine (Martek) has been awarded a two-year Remotely Piloted Aircraft Services (RPAS) contract from the European Maritime Safety Agency (EMSA). The services offered will fulfil part of the world’s largest ever maritime drone contract.  


Damen Secures Nigerian Patrol Vessel Order

Photo: Damen Group

Just over a year after it took delivery of the second of two FCS 3307 Patrol vessels, Homeland Integrated Offshore Services Limited (Homeland) of Nigeria has ordered one more of the same class with an option on a second, to be named Guardian 3 and Guardian 4


India Upgrades Standards of Major Ports

Pic: Indian Ports Association

 Significant improvement in efficiency has been achieved by India's Major Ports in the last two years, said the Minister of State for Shipping Pon. Radhakrishnan.   With a view to improve further the efficiency and productivity of the major ports and make it comparable internationally


Bulkcarrier Fleet Growth In Limbo?

Graph: Clarksons Research

 The pace of bulkcarrier fleet growth has fallen sharply since 2010, when the fleet grew by a record 17%, says a Clarksons Research report.   In 2016, the supply side response to difficult market conditions saw the bulker fleet grow at the slowest pace so far this century


Denmark Makes More AIS Data Available

(Image: DMA)

Having already published Automatic Identification System (AIS) vessel traffic data from 2014-2016 on its website, the Danish Maritime Authority (DMA) has made even more historical AIS data available. Now anyone who may be interested can also access Danish AIS data from 2006 to 2014.


UK Chamber Welcomes Immigration Rule Change for International Seafarers

Photo: UK Chamber of Shipping

 The UK Chamber has welcomed an announcement by the Home Office to reform immigration rules for international students, extending the time limit to three years for educational courses which are below degree level but subject to MCA regulations that the applicant must spend 12 months at sea.






 
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