GMS: Ship Recycling Activity Minimal
It has been another tentative time in the global ship recycling markets as overall this week, reports cash buyer GMS, as sale and purchase activity and local arrivals / deliveries reported minimal movements at the various waterfronts.Indian sub-continent ship recyclers are approaching the monsoon season with a ‘wait-&-watch’ mindset prior to committing afresh on tonnage, especially since virtually…
MODU Market Shrugs Off Contract Suspensions
The Middle East Gulf offshore market continues to exhibit strong growth in contract awards, even as it adjusts to the decision by Saudi NOC Aramco to suspend contracts for over 20 jack-up rigs.The Gulf region continues to contribute strongly to contract volumes in 2024. MSI tracked circa $50bn of contract awards during the first half of 2024, a rate which if continued will see 2024 capex spend outstrip levels seen in 2022 and 2023.
Esgian Week 27 Report: A Lull in Contracting
Esgian provides an update on the current lull in contracting in its Week 27 Rig Analytics Market Roundup.Report SummaryContractsAban Offshore-owned 250-ft jackup Aban II has received a letter of award (LOA) from Oil India for an offshore work program in Andhra Pradesh, India.Shelf Drilling North Sea has secured a new 17-month contract for the 400-ft Shelf Drilling Winner (previously known as Noble…
IMO Technical Cooperation Committee Advances Capacity Development Strategy
The Technical Cooperation Committee held its 74th session at IMO Headquarters in London from Junw 24 to 28 and made progress on the IMO Capacity-Development Strategy for providing technical support for Member States. The Committee approved a new title (IMO Capacity-Development Strategy) and structure for the document. The draft revised comprehensive strategy combines the existing Capacity-Building Decade 2021-2030 Strategy…
Fincantieri Floats Out Viking Vesta
Viking Vesta, the newest cruise ship which Fincantieri is building for the shipowner Viking, has been floated out at the shipyard in Ancona, Italy.The vessel will enter service in the summer of 2025, offering itineraries in the Mediterranean and Northern Europe.The vessel will be placed in the small cruise ship segment. She will have a gross tonnage of about 54,300 tons, will be equipped with 499 cabins, and accommodate 998 passengers.
Golar LNG Signs 20-Year FLNG Deal
Golar LNG has entered into definitive agreements with Pan American Energy (PAE) for a 20-year deployment of a floating liquefied natural gas (FLNG) vessel in Argentina.The FLNG project will monetize Argentine gas, tapping into the vast resources from the Vaca Muerta shale formation in the Neuquina Basin, the world's second-largest shale gas resources. The project is expected to start LNG exports within 2027…
China Anchors “Monster Ship” in South China Sea
The Philippine Coast Guard (PCG) said on Saturday that China's largest coastguard vessel has anchored in Manila's exclusive economic zone (EEZ) in the South China Sea, and is meant to intimidate its smaller Asian neighbour.The China coastguard's 165-meter 'monster ship' entered Manila's 200-nautical mile EEZ on July 2, spokesperson for the PCG Jay Tarriela told a news forum.The PCG warned the Chinese vessel it was in the Philippine's EEZ and asked about their intentions…
EU Naval Mission Says It Destroyed Drones in Gulf of Aden
The EU naval mission protecting ships crossing the Red Sea said its frigate Psara had destroyed two unmanned aerial vehicles in the Gulf of Aden on Sunday.The Aspides mission began in February in response to drone and missile attacks on vessels by Iranian-aligned Houthi militants.
Iranian Warship Capsizes During Repairs
The Iranian navy frigate Sahand capsized during repairs in the southern port of Bandar Abbas, Iranian state media reported on Sunday."As Sahand was being repaired at the wharf, it lost its balance due to water ingress. Fortunately ...the vessel is being returned to balance quickly," the official news agency IRNA reported, citing a navy statement.It did not specify when the accident occurred.
Port of Houston Shut Ahead of Tropical Storm Beryl
The largest ports in Texas closed operations and vessel traffic on Sunday as Hurricane Beryl intensified as it approached the Texas coast near Houston.Beryl, which left a trail of destruction this week in the Caribbean, killing at least 11 people, was now a category 1 hurricane and may strengthen into a category 2 by landfall on Monday, the U.S. National Hurricane Center (NHC) said.The ports of Corpus Christi…
