Oil Discovery in Brazil
A huge offshore oil discovery could raise Brazil's petroleum reserves by a whopping 40 percent and boost this country into the ranks of the world's major exporters…
Aker Kvaerner Awarded Drilling Equipment Contracts
Aker Kvaerner has been awarded two drilling equipment contracts by Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) in Korea; one for a single drillship, the other one for a semi rig.
Shipyard Closes, Leaves “Ghost Fleet” Ships in Limbo
The fates of six ships from the James River Reserve Fleet are in limbo after a Maryland salvage yard that was supposed to scrap the vessels abruptly closed and its owners disappeared.
BOURBON Announces Quarterly Financial Results
Third quarter 2007 revenues for BOURBON rose 35% over the same period in 2006 to total $294.3m. This growth was driven by higher revenues in all BOURBON divisions.
ECI Acquires Kelvin Hughes
ECI Partners LLP (“ECI”), the UK mid-market buyout specialist, has acquired Kelvin Hughes in a $109.3m transaction out of Smiths Group plc, the UK listed technology company.
Waterways Council Applauds WRDA Veto Override
Waterways Council, Inc. (WCI) expressed its gratitude for the aggressive work of the House and Senate this week to override the President’s veto of the Water Resources Development Act of 2007.
This Day in Navy History
Nov. 09: 1921 - USS Olympia arrives at the Washington Navy Yard from France carrying the body of the Unknown Soldier for internment at Arlington National Cemetery.
NOAA Vessels to Moor in Seattle
The Port of Seattle announced that the National Oceanic and Atmospheric Administration (NOAA) will moor vessels in Seattle this winter. The agency announced that…
Governor Announces First Innovation Partnership Zones
Governor Chris Gregoire announced the designation of 11 Innovation Partnership Zones in Washington, geographic areas that will promote and develop the state’s regional economies.
Tsakos Energy Navigation Announces 3Q Profits
Tsakos Energy Navigation Limited (TEN) (NYSE: TNP) reported financial results (unaudited) for the third quarter and first nine months of 2007. Net income was a record…
Trico to Launch Offer for All Shares of Active Subsea ASA
Trico Marine Services, Inc. (NASDAQ: TRMA) and Active Subsea ASA (NOTC: ASUB) announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea.
W&T Offshore Reports 3Q Results
W&T Offshore, Inc. (NYSE: WTI) announced its financial and operational results recently. Net income for the third quarter of 2007 was $36.3m, or $0.48 per diluted share…
Drydocks World Sets up New Group
Drydocks World, a subsidiary of Dubai World, has announced that it has successfully completed the setting up of a new group under its umbrella. Geoff Taylor, CEO of Drydocks World…
Pemex to Invest $470M in Oil Technology
Mexico plans to invest $470m in technological development to aid its oil and gas search over the next five years, state-owned energy company Pemex said recently according to a Reuters report.
McDermott International Announces 3Q Results
McDermott International, Inc. (NYSE:MDR) reported net income of $140.4m, or $0.61 per diluted share, for the 2007 third quarter, compared to net income of $102.7m…
Garware Offshore to Acquire Barge for $25M
Diversifying services from its core business of leasing out ships for oil and gas exploration, Garware Offshore Services Ltd. is acquiring a construction barge from a Chinese manufacturer for $25m.
Tanker Operators Gain Access to Real-time Port/Terminal Info
INTERTANKO members now have access to near real-time information about the terminals their ships plan to visit, since the Association’s Terminal Vetting Database is now hosted on the Q88.com website.
TBS International Ltd. Acquires Multipurpose Tweendecker
TBS International Limited (NASDAQ: TBSI) announced that it has entered into an agreement to acquire the M.V. African Sanderling, to be renamed the M.V. Hopi Princess…
California Air Resources Board to Host Meeting
The California Air Resources Board (CARB) is hosting a meeting in Sacramento on November 9 to discuss the proposed at-berth ocean-going vessels regulations (popularly known as cold-ironing).
Port Workers Begin Enrollment for Federal Port Security Credential
Port workers, longshoremen, truckers and others at the Port of Oakland will become the first in the region to enroll in the Department of Homeland Security's Transportation…
