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South Korea Shipyard Stocks Surge
According to a report from Bloomberg, Hyundai Heavy Industries Co. (009540 KS) surged 11% percent after receiving an order for two LNG ships Dynagas Ltd. of Greece, Samsung Heavy Industries Co.
Golar LNG Q1 Results 2011
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Golar secures charters for its 4 modern vessels of between 12 and 18 months. In April 2011, Golar LNG acquired shares in subsidiary company Golar LNG Energy Limited via private placement share swaps and cash purchases that increased its ownership to 95.1%. A voluntary offer has subsequently been made for the balance of the outstanding shares of Golar LNG Energy Limited and Golar LNG currently owns 99.4 % of the shares.
Landmark Research Agreement with Sintef
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Statoil and Sintef have signed a new framework agreement â one which likely to be the most comprehensive individual research agreement ever signed in Norway. With a potential value of NOK 1 billion, the agreement is valid for four years with an option for an additional two plus two years. âSintef has both wide and expert knowledge in disciplines that are important to Statoil, such as deepwater and multi-phase technology,â says Statoil research and development head Karl Johnny Hersvik.
Nor-Shipping Clean Ship, Next Generation Ship Awards
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Nor-Shipping has released names of the winners of the 2011 Clean Ship and Next Generation Ship Awards. The winners were announced today at the Nor-Shipping Opening Conference on May 24, 2011. The awards, which showcase industry excellence, were presented by Norwegian Minister of Trade & Industry Trond Giske and Henrik Madsen, CEO of Det Norske Veritas (DNV). An independent jury considered a total of 40 candidates for the 2011 awards.
Technip Samsung Consortium Begins Shellâs FLNG Facility
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Shell Development (Australia) Pty Ltd (Shell) has given notice to a Technip Samsung Consortium (TSC) to proceed with the construction of the first floating liquefied natural gas (FLNG) facility in the world. TSC will provide engineering, procurement, construction and installation for the FLNG facility Shell will deploy at its Prelude gas field off the northwest coast of Australia. Moored far out at seaâŚ
Emsys Monitoring Technology for Emissions Regs
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Hefty fines, detention and possible arrest are looming for ship owners/operators who fail to meet new ship emissions requirements. In accordance with MARPOL (Marine Pollution) Annex VI regulations, new Emissions Control Area (ECA) regulations for sea areas within 200 nautical miles from the coasts and ports of the U.S. and Canada go into effect on August 1, 2011. Even with an exemption clause that extends the regulations enforcement date to Aug.
ABS Provides Guidance For Gas Fuelled Ships
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With rising fuel costs and todayâs global interest on emission reduction, liquefied natural gas (LNG) is considered a promising alternative fuel for all type of ships. In response to industryâs need for technical guidance for new construction and existing vessel conversion, leading class society ABS announced today the release of its Guide for Propulsion and Auxiliary Systems for Gas Fuelled Ships.
Rolls-Royce Recognized For Innovative Ship Concept
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Rolls-Royce, the global power systems company, has received the "Next Generation Ship Awardâ for its Enviroship Concept. The winning ship design is for a short-sea general cargo vessel which integrates a highly efficient gas power and propulsion system with an innovative hull design to provide a significant reduction in emissions. âWe are pleased that our Enviroship Concept has been recognised by the maritime industry for its contribution to the ongoing development of environmentally friendlyâŚ
EXMAR Teams Up With Pacific Rubiales
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EXMAR has teamed up with Pacific Rubiales to build a small-scale LNG export project in northern Colombia. The Colombian-Canadian exploration and production player and EXMAR have begun front-end engineering and design for the scheme. Plans involve building a small liquefaction barge and a pipeline from the companyâs La Creciente gas field to the Caribbean coast and shipping to the targeted markets. The project is targeting Caribbean and Central American markets.
Eni Awarded Arguni I Exploration License, Indonesia
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In the 2nd Indonesian International Bid Round 2010, Eni has been awarded the 100% participation interest and operatorship of Block Arguni I located on and offshore in the West Papua Province, Eastern Indonesia. The Block Arguni I covers an area of 5,386 square km in the Bintuni Basin, a mainly gas prone, prolific hydrocarbon province, with several giant gas discoveries already in production. The dealâŚ
Shell Moves Forward with Floating LNG
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Shell announces final investment decision on Prelude Floating LNG project in Australia. The Board of Royal Dutch Shell plc (Shell) has taken the final investment decision on the Prelude Floating Liquefied Natural Gas (FLNG) Project in Australia (100% Shell), building the worldâs first FLNG facility. Moored far out to sea, some 200 kilometres from the nearest land in Australia, the FLNG facility will produce gas from offshore fields, and liquefy it onboard by cooling.
Premiere of MAN Diesel & Turbo Gas Engine
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At a major event at its Diesel Research Centre in Copenhagen today, MAN Diesel & Turbo presented its ME-GI gas engine to a 300-strong invited audience of customers, licensees and journalists. The unveiling of the two-stroke engine represents the culmination of many yearsâ work that began in the 1990s with the companyâs prototype MC-GI dual-fuel engine. MAN Diesel & Turbo originally announced plans to carry out full-scale testing of the new engine in September 2010.
N-KOM Drydock Receive First Qatargas Vessel
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Nakilat-Keppel Offshore & Marine (N-KOM) has received the first Qatargas-chartered vessel âAl Wakrahâ to dry dock at the Erhama Bin Jaber Al Jalahma Shipyard, Qatarâs new, world-class offshore and marine hub at the Port of Ras Laffan. âAl Wakrahâ, which is owned by a Japanese consortium led by Mitsui O.S.K. Lines, Ltd. (MOL) and managed by MOL LNG Transport Co., Ltd. (MOLLNG), will undergo general maintenance works such as main and generator turbine inspectionsâŚ
Bureau Veritas: A New Meaning of Efficiency
Bureau Veritas says continuing pressure on environmental emissions, coupled with rising oil prices, puts a new focus on operational efficiency. Writing in the BureauâŚ
Bureau Veritas Says It Is Time For A New Meaning Of Efficiency
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LEADING international classification society Bureau Veritas says continuing pressure on environmental emissions, coupled with rising oil prices, puts a new focus on operational efficiency. Writing in the Bureau Veritas Marine Business Review 2011 Bernard Anne, managing director of BVâs Marine Division says, âEfficiency has to take on a new meaning. To be efficient means more than optimising a ship to burn less fuel when loaded and at its design service speed.
Teekay Corporation Reports Q1 Results
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* First quarter 2011 cash flow from vessel operations of $136.4 million. * First quarter 2011 adjusted net loss attributable to stockholders of Teekay of $27.9 million, or $0.39 per share (excluding specific items which decreased GAAP net income by $1.8 million, or $0.02 per share). * Completed sale of remaining 49 percent interest in Teekay Offshore Operating L.P. to Teekay Offshore Partners for $390 million; Teekay Offshore increased cash distribution by 5.3 percent.
Danish Shipowners: On Growth track in Wake of Economic Crisis
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Denmark has retained its position as one of the world's leading maritime nations, despite the economic crisis. In terms of operated tonnage, Denmark is today the fifth largest maritime nation in the world. In all, Danish shipping companies transport some 10% of the world trade. Henrik Segercrantz reports on Danish maritime issues. Danish shipping is global, with trade within Europe counting for only a quarter of the industryâs total revenues.
Maersk Line Interim Management Statement
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Revenue for the period increased by 10% to USD 14.5bn (USD 13.2bn), primarily due to higher container freight rates, container volumes and oil prices. The profit for the period increased by 82% to USD 1.2bn (USD 0.6bn) and was driven by better operational performance in most business units. The Groupâs ROIC increased to 11.7% (7.6%). "We have had a good start to the year and are very satisfied with the results.
Wärtsilä Wins Total Solution Order for LNG Vessel
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Wärtsilä, the marine industry's leading solutions provider, has been contracted by Kleven Maritime of Norway to design a new LNG powered Platform Supply Vessel (PSV) of the Norwegian operator Rem Offshore. The scope of the order also includes the propulsion machinery, automation and other equipment for the same vessel. Wärtsilä is the clear market leader in supplying design and propulsion solutions for LNG powered PSVs, a position that is further strengthened with this order.
Drydocks World and ADNATCO & NGSCO to Enhance Cooperation
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Dubai, UAE, May 4, 2011: Drydocks World, the leading Dubai-based maritime service provider, and Abu Dhabi National Tanker Company & National Gas Shipping Company (ADNATCO & NGSCO), the shipping arm of ADNOC and its Group of Companies, reviewed ways of further strengthening their trade cooperation to stimulate oil and gas industry and trade in the Middle East. This was decided during a meeting between Khamis Juma BuamimâŚ
Icebreaking LNG Carrier Vladimir Rusanov on Ice Trials
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Maritime Reporter TV Interviews Timo Koponen, Wärtsilä
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Digitalization Driving Safety in the Maritime Sector
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Designer seeks permit to send out United States gas to Mexico for LNG exports
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Video: LNG Carrier Transits the Northern Sea Route
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Crowley Christens LNG-Powered ConRo
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Pasha Hawaii Brings LNG Containerships Online
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LNG Investment Set to Grow
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Maritime Reporter TV Interviews Leif Gross, Caterpillar
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Inside Crowley's Commitment Class ConRo Ships
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