Grand Cayman to Build Cruise Ship Dock
The island of Grand Cayman, which has long resisted building a cruise ship dock out of concern about environmental damage that would result from dredging a channel into George Town Harbor…
Vinashin Eyes Future Growth
It has only been a decade since the Vietnam National Shipbuilding Corporation (Vinashin) started operations yet it has been able to accumulate sizeable capital and…
Technology Firms Assist Navy Shipbuilding
According to Pascagoula Mississippi Press, while the welders, fitters and engineers at Northrop Grumman work on the ships that will soon form the nucleus of the Navy's updated surface fleet…
GEM, Hyundai Sign Contract for Five Tankers
Gulf Energy Maritime (GEM) awarded South Korea's Hyundai Mipo Dockyard Co. Ltd. a contract for five high specification double hulled product/chemical tankers for delivery during 2006/2007.
Baker Hughes Announces July 2006 Rig Counts
Baker Hughes Incorporated announced that the international rig count for July 2006 was 921, up 15 from the 906 counted in June 2006, and up 10 from the 911 counted in July 2005.
Green” Ships Call at Port of L.A.
The Hatsu Smart, one of Evergeen Group’s “green” mega ships, recently made its maiden call at the Port of Los Angeles alongside sister ship Hatsu Sigma – the first…
IMOS to Handle Tanker Expansion for NSCSA
The National Shipping Corporation of Saudi Arabia (NSCSA) has licensed Veson Nautical’s complete Integrated Maritime Operations System (IMOS). IMOS will manage NSCSA’s…
NASSCO, U.S. Shipping Partners Finalize Contract
General Dynamics NASSCO has finalized a $1b contract with U.S. Shipping Partners L.P. (USS) to build nine product carrier tankers. The contract includes options for five additional ships.
MICAD Marine, France Helices Announce Partnership
MICAD Marine has formed a partnership with France Helices to offer vessel operators condition-based maintenance monitoring on the NEW Surface Drive System. The NEW…
Rowan Obtains Drilling Contracts
Rowan Companies, Inc. was awarded term drilling contracts for two Class 116-C jack-up drilling rigs to begin operating offshore Qatar in late 2006 or early 2007.
Global LNG Fleet to Peak in 2008
According to Dubai’s Gulf News, excess capacity in the global fleet of liquefied natural gas carriers will be at its highest this decade in 2008, due to a growing…
Dubai Offshore Oil Fields Transition to New Operator
The Government of Dubai and Dubai Petroleum Company (DPC) announced a joint agreement that will change the operating arrangements for Dubai offshore oilfields. Effective April 2007…
Aker Yards, Damen Finalize Agreement
Aker Yards and Damen Shipyards Group have finalized the process of establishing joint ownership of the Damen Shipyards Okean. The plans involve increasing the output capacity of the yard to 60…
U.K. Eyes Deepwater Wind Farms
As Britain's North Sea oil and gas stocks dwindle, the government is seeking new ways of harnessing natural resources to ensure a diverse and secure future energy supply.
TOP Tankers Slips In 2Q
TOP Tankers Inc. posted a second quarter net loss of $4.91m, or $0.17 per share compared to net income of $13.55m, or $0.49 per share, in the prior year quarter.
Offshore Oil Industry Encouraged by Senate Bill
Big oil has been pressing Congress for years to expand its rights to drill for domestic offshore oil and gas, with little to show for its efforts. But with tensions…
M-I SWACO Acquires SPS
M-I SWACO acquired Specialised Petroleum Services Group Limited (SPS) of Aberdeen, Scotland in exchange for cash consideration of approximately $165m. The acquired…
Daewoo Shipbuilding Shares Surge on M&A Talk
South Korea's Daewoo Shipbuilding and Marine Engineering Co. shares rose as much as 6.7 percent on August 3 after a local newspaper said steel maker POSCO Co. Ltd.
GL Contracts 60th Ship with Chinese Yard
A 19,800 dwt stainless steel chemical tanker vessel is the 60th ship being built with Germanischer Lloyd class at Qingshan Shipyard. The 10th anniversary of close…
Maritrans Reports 2Q Earnings
Maritrans Inc. announced its second quarter financial results and declared its quarterly dividend. Net income for the quarter ended June 30, 2006 was $3.6m, or $0.30 diluted earnings per share…
