EMGS - New Contract In Norwegian Sea
Electromagnetic Geoservices ASA (EMGS), the marine EM market leader, has received a signed contract from a customer worth USD 2.3 million (NOK 13.5 million) for…
Foster Wheeler Wins Contract For Retrofit-SCR System
Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Turun Seudun Energiantuotanto Oy (TSE) for the design…
Major Agreement Signed At 21st World Petroleum Congress
At the 21st World Petroleum Congress Rosneft, Ministry of Industry and Trade of the Russian Federation, Gazprom, NOVATEK, Gazprombank, Sovkomflot, United Shipbuilding…
BP & CNOOC Sign 20-yr LNG Deal
BP and the China National Offshore Oil Corporation (CNOOC) today announced a heads of agreement for the supply of up to 1.5 million tonnes of liquefied natural gas…
Rosneft's Igor Sechin Meets PDVSA's V. P. of E & P
Rosneft President, Chairman of the Management Board Igor Sechin held a working meeting with Eulogio Del Pino, PDVSA Vice President of Exploration and Production today.
PSA Is “Best Global Container Terminal Operating Co”
PSA International Pte Ltd (PSA) won the “Best Global Container Terminal Operating Company” award for the ninth year, and PSA Singapore Terminals was voted “Best…
Nigeria Losing $35m a Day from Oil Theft - Report
Nigeria is losing an estimated $35 million a day from oil theft and needs to put a "full, final stop" to the growing black market for crude exports, according to…
No Middle Ground for Environmental Lobby
When dealing with the environmental lobby, there’s really only one thing you need to know. The nautical definition of middle ground is a length of comparatively…
2014 . . . And the Story Continues
![Greg Trauthwein, Editor & Associate Publisher](https://images.marinelink.com/images/maritime/w100h1500/eg-trauthwein-editor-associate-publisher-28828.jpg)
Having sat in this seat for more two decades I am sometimes asked if I’m tired of the job and ready to move along. (Thankfully, though, that question has never come from my boss.) Unequivocally the answer is “no.” While the maritime industry is often erroneously labeled as conservative and behind the technological times, it is in fact a vibrant and multi-faceted transport niche, a literal cast of characters with a liberal mix of international…
Baja Ferries Hopes to Buy SNCM
![Image courtesy of SNCM](https://images.marinelink.com/images/maritime/w100h1500/image-courtesy-of-sncm-28827.jpg)
Mexican ferry company Baja Ferries said on Tuesday it hopes to close a deal to buy troubled French ferry operator SNCM before November or December. SNCM (Societé Nationale Corse-Méditerranée), which runs routes from cities on France's Mediterranean coast to Corsica and northern Africa, has accrued losses of about 250 million euros ($340.38 million) from 2001 to 2013. In May, Baja said it was in talks with French transport firm Transdev about buying its 66 percent stake in SNCM.
CATS Pipeline & Infrastructure Sold for $954m
![BG Group](https://images.marinelink.com/images/maritime/w100h1500/bg-group-28825.jpg)
BG Group agreed to the sale of its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea and associated infrastructure to Antin Infrastructure Partners for total proceeds up to $954 million. Under the agreement, BG Group will sell its 62.78% interest in CATS for a consideration comprising $888 million on completion of the transaction and a deferred amount of $66 million. The sale does not impact BG Group's rights to capacity in CATS.
DMW Marine Delivers Crane to US Navy
![Photo courtesy of DMW Marine Group](https://images.marinelink.com/images/maritime/w100h1500/photo-courtesy-of-dmw-marine-28824.jpg)
DMW Marine Group has delivered an ABS certified 500 ton meter man rated knuckleboom crane to NASSCO in San Diego for installation on the MLP 3 for the U.S. Navy. The crane has a maximum capacity of 24,200 Lbs. at 52-plus feet in Sea State 3 operating conditions. Man rated capacity is 24,912 lbs. at 41 feet also at Sea State 3. dmwmarinegroup.com
IEA: Unconventional Oil Revolution to Spread by End of Decade
![Photo courtesy of IEA](https://images.marinelink.com/images/maritime/w100h1500/photo-courtesy-of-iea-28822.jpg)
The IEA’s Medium-Term Oil Market Report 2014 will be officially launched during a Press webinar on Tuesday, June 17, 2014, 11 a.m. Paris time. In addition, a web-based technical briefing will take place on June 17, at 16:30 Paris time where journalists will have an opportunity to put questions to the team that produced the Medium-Term Oil Market Report 2014. The unconventional supply revolution that…
Alfultis Appointed President of SUNY Maritime
![Dr. Michael A. Alfultis](https://images.marinelink.com/images/maritime/w100h1500/dr-michael-a-alfultis-28883.jpg)
Dr. Michael A. Alfultis, a retired U.S. Coast Guard captain, and the director and chief administrative officer of the University of Connecticut’s Avery Point campus, has been named as the next president of the SUNY Maritime College. Dr. Alfultis’ appointment was affirmed today by the SUNY Board of Trustees who met in Buffalo. He will begin his Maritime presidential duties on Monday, July 14. With more…
Maritime Reporter @ 75: The Daily Cartoon
![© New Wave Media](https://images.marinelink.com/images/maritime/w100h1500/new-wave-media-28820.jpg)
Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners, ship and boat builders, naval architects and marine engineers. Today Maritime Reporter heads a group of four print and 10 websites serving the global maritime, offshore and subsea sector.
US Conditions of Entry for Vessels from Nigeria
The U.S. Coast Guard (USCG) has announced that it will impose conditions of entry on vessels arriving from the Federal Republic of Nigeria (excluding vessels arriving…
Caterpillar to Unveil Twin Fin Propulsion System
![The Cat Propulsion Twin Fin System will debut at the 2014 ITS Hamburg Conference and Exhibition, June 16-20. (Image courtesy of Caterpillar Marine)](https://images.marinelink.com/images/maritime/w100h1500/the-cat-propulsion-twin-fin-28816.jpg)
Caterpillar Marine will launch the Cat Propulsion Twin Fin System at the 2014 ITS Hamburg Conference and Exhibition, June 16-20. The Cat Propulsion Twin Fin System is a new diesel-electric solution that saves on fuel and emissions, while improving overall vessel performance, Caterpillar said. The Twin Fin System protects all of the propulsion mechanical parts within the hull profile while retaining…
Hydracraft Unveils Variable Hull Design
Hydracraft, a research and development firm incorporated in 1986 and located in the Port of Los Angeles, announced today that it is launching its fully patented…
Today in U.S. Naval History: June 17
Today in U.S. For more information about naval history, visit the Naval History and Heritage Command website at history.navy.mil.
Maersk Line to Raise Freight Rates from Asia to Europe
![Maersk Triple E ship in port (Photo courtesy of Maersk Line)](https://images.marinelink.com/images/maritime/w100h1500/maersk-triple-e-ship-in-28808.jpg)
Container shipping company Maersk Line, a unit of A.P. Moller-Maersk, plans to raise freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from July 1. Rates for twenty foot equivalent unit containers (TEU) will rise by $575, the shipping company wrote in a letter to clients on Tuesday. According to the Shanghai Containerized Freight Index, twenty foot rates from Asia to Europe stood at $1,202 last week.