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GasLog Post 4Q 2014 Results
GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31, 2014.
MAN Diesel & Turbo Reports ME-GI Milestones
![ME-GI engine (Image: MAN Diesel & Turbo)](https://images.marinelink.com/images/maritime/w200h200c/megi-engine-image-man-diesel-40449.jpg)
MAN Diesel & Turbo reports that its ME-GI engine has now received more than 100 orders. FLEX LNG announced on February 2 that two-stroke slow-speed ME-GI main engines will be used as the propulsion system for two LNG carriers to be built at Samsung Heavy Industries. The expected delivery dates of the vessels have been postponed from Q1 2017 to Q1 and Q2 2018. Ole Grøne, Senior Vice President Low-Speed Sales and Promotions…
Gail Scraps $7-billion LNG Ship Tender
Gail India Ltd has scrapped a tender that would have led to the construction of three massive liquefied natural gas (LNG) carriers at Indian shipyards. After postponing…
India's GAIL Postpones LNG Tender; No Takers
The state-owned gas utility GAIL (India) has postponed the tender date for its $7.6 billion newly built LNG ships for the third time as it did find any takers. The…
ABS Extends Design Approval for KC-1 LNG CCS
ABS has granted extended general design approval for the KC-1 LNG cargo containment system (CCS). The new membrane type will be installed on newbuild LNG carriers…
Shipbuilding: Korea Looks to Power Ahead in 2015
Can pain in the China's ship building industry the gain for South Korea? Will 2015 save Korea's major shipbuilders which had a pretty tough time in 2014? Korea's…
RS to Class Newbuild Arctic Tankers
Russian Maritime Register of Shipping (RS) has signed an agreement with South Korean yard Samsung Heavy Industries Co. LTD for design approval and survey under construction of a new series of 42…
Evergreen Naming Ceremony for EVER LUNAR
Evergreen Group held the naming ceremony for EVER LUNAR today, the seventh of its L-type vessels to be built by CSBC Corporation in Taiwan. The ceremony, which was officiated by Ms.
MOL Seals Shipping Deal with Reliance
Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) and Reliance entered into a strategic association for transportation of Liquefied Ethane from United States to India.
GasLog Ltd. to Buy 2 LNG Vessels
GasLog Ltd. has entered into an agreement with Methane Services Ltd. an affiliate of BG Group, to acquire two modern tri-fuel diesel electric LNG carriers for a cost of $460 million.
Samsung Heavy Scraps Samsung Eng Takeover
![Gepje Shipyard (Photo: Samsung Heavy Industries)](https://images.marinelink.com/images/maritime/w200h200c/gepje-shipyard-photo-samsung-heavy-36358.jpg)
Samsung Heavy Industries said on Wednesday it has decided to scrap a $2.5 billion stock deal to take over Samsung Engineering, potentially complicating restructuring plans by parent Samsung Group ahead of a looming succession. Shareholders doubting the synergies of the merger had asked the two companies to buy back their stock for a higher-than-budgeted $1.5 billion. This led the deal to unravel, both companies said in regulatory filings.
Petrojarl Knarr FPSO Earns AoC from PSA Norway
![Petrojarl Knarr (Photo: Norsafe)](https://images.marinelink.com/images/maritime/w200h200c/petrojarl-knarr-photo-norsafe-36301.jpg)
Teekay’s Petrojarl Knarr FPSO has received PSA Norway’s Acknowledgement of Compliance (AoC), and has now arrived the Knarr field in the North Sea. The AoC is a statement from the PSA expressing the authorities’ confidence that petroleum activity can be performed by the facility within the regulatory framework. FPSO Petrojarl Knarr is to be used on the Knarr field, where BG Norge AS is the operator. The Knarr field is in the North Sea, around 50 kilometers north-east of Snorre.
Fairmount Tugs Delivers FPSO Petrojarl Knarr
Three tugs of Fairmount Marine have towed the brand new FPSO Petrojarl Knarr from South Korea to Norway in just 61 days. Petrojarl Knarr, one of world’s largest…
Hyundai Heavy Plummets to Worse Loss Ever
![A HHI-built LNG Carrier. (Source: HHI)](https://images.marinelink.com/images/maritime/w200h200c/a-hhibuilt-lng-carrier-source-35422.jpg)
South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders. Hyundai Heavy said on Thursday it slumped to an operating loss of 1.93 trillion won ($1.83 billion) in the third quarter…
New Maersk Drillship Secures Contract
Maersk Drilling’s third drillship, Maersk Venturer, which was delivered 25 September 2014 from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si in South-Korea…
Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease
Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to extend…
Wärtsilä to Supply Gas Handling Systems for VLEC Newbuilds
![Illustration of a very large ethane carrier. (courtesy of Wärtsilä)](https://images.marinelink.com/images/maritime/w200h200c/illustration-of-a-very-large-34663.jpg)
Six new 87,000 cubic meters capacity very large ethane carriers (VLECs), being built at the Samsung Heavy Industries yard in South Korea, will feature Wärtsilä gas handling systems. The contract, which includes an option for additional vessels within this series, was signed in September, and deliveries of the Wärtsilä solutions are expected to commence at the end of 2016 and complete in 2017. These…
UDIN Engineering Boosts FORAN in Korea
![FORAN 3D model of the MR Tanker](https://images.marinelink.com/images/maritime/w200h200c/foran-3d-model-of-the-34602.jpg)
UDIN Engineering boosts FORAN in Korea Busan-based Unique Design and Intellectual Networks Engineering Co., Ltd. (UDIN) has recently entered into agreement with SENER Korea Engineering and Systems Co., Ltd. (SKES) for the permanent license of the FORAN System and related technical assistance. The agreement completes a process started off in July 2013 with the integral application of FORAN on a temporary…
Samsung Heavy to Tankers for Gazprom
South Korean shipbuilder Samsung Heavy Industries plans to build three Arctic tankers for Russian oil company Gazprom Neft, which has been targeted by Western sanctions…
SHI Wins Order for Arctic Shuttle Tankers
Samsung Heavy Industries won an order amounting to USD 440 Million for Three Arctic Shuttle Tankers from a European shipper. According to sources the order is from…