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Hybrid Propulsion Solution for Fish Farming Vessel

The new salmon processing and transportation vessel for Hav Line AS, Norway, is the world's first vessel of its kind with a hybrid/battery solution. (Photo: Wärtsilä)

Wärtsilä said it has been contracted to deliver the ship design for a new processing and transportation vessel to be built at the Balenciaga shipyard in Spain on behalf of Hav Line AS of Norway. In addition to the design, Wärtsilä will also supply an integrated solution comprising a 10-cylinder Wärtsilä 31 main engine,

Maersk Wants Trade Finance Role

(File photo: Maersk Line)

Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry.   Moving into traditional bank territory and further down the shipping value chain, Maersk Line, part of A.

Fog Lifts as Maersk CEO Remains Upbeat

File Image: The Madrid Maersk, one of Maersk's largest boxships. CREDIT: Maersk

Container shipping fundamentals at best since 2010 - CEO.   Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by more than 4.5 percent as investors looked beyond one-off second-quarter charges.   Maersk has been hit by low oil prices at its

Transocean to Buy Songa Offshore

(File photo: Songa Offshore)

About 77 pct of Songa shareholders have so far accepted deal.   Transocean, one of the world's biggest drilling rig operators, has agreed a deal to buy Norwegian competitor Songa Offshore for 9.1 billion Norwegian crowns ($1.1 bln), the two companies said on Tuesday.   The deal, which would be mostly paid for in shares and convertible bonds,

Oil Slips on Strong Dollar, OPEC and China Weigh

File Image (CREDIT: AdobeStock / (c) scanrail)

Chinese Demand Falters as OPEC production remains stronger despite promised cuts.   Oil prices slipped on Tuesday, extending a heavy sell-off after a surge in the dollar and weighed down by signs of weaker demand in China, the world's second-largest consumer.   Benchmark Brent crude was down 30 cents at $50.

SITC Shipowning Orders Four Newbuilds

Photo:  SITC International Holdings Co., Ltd

 SITC Shipowning, a wholly-owned subsidiary of SITC International Holdings Co, has exercised the options for the construction of two container vessels, said a company release.   SITC Shipowning also entered into the New Shipbuilding Contracts with the Builder for the construction of two additional container vessels.

Two Patrol Vessels Launched for Indian Navy

(Photo: IRClass)

Two Naval Offshore Patrol Vessels (NOPVs) for the Indian Navy were launched in Reliance Defense shipyard at Pipavav on July 25, 2017.   The vessels, named INS Shachi and INS Shruti, are the first two vessels in a five-vessel series which are being built in accordance to built under the Indian Register

Suezmax Tanker Delivered to TMS

Chinese shipbuilder Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS) said it delivered a 158,000 DWT Suezmax oil tanker Greek operator TMS Tankers on July 18.   The vessel, Fontana, has an overall length of 274 meters, molded breadth of 48 meters and draft of 16 meters. It is suitable for carrying crude oil having flash points at or below 60℃,

Bumi Armada Bags Additional Contract from Lukoil

Photo:  Bumi Armada Berhad

 Bumi Armada Bhd’s wholly-owned unit, Bumi Armada Caspian LLC, has signed a supplementary agreement worth RM576 million (USD 134 million) with Lukoil-Nizhnevolzhskneft LLC (Lukoil) for an additional engineering, procurement, construction and installation (EPCI) scope of work in Russia.    Back in December 2013,

DP World Forms JV with Egypt’s Suez Canal

Photo: Dubai Media Office

 DP World, has formed a joint venture (JV) company with Egypt’s General Authority for the Suez Canal Economic Zone.   The new venture will see the global terminal operator assist in developing projects in the SCZone, the main trade route between Europe and Asia, serving more than 8% of annual global trade.

U.S. Senators Against Blockade of Venezuela Oil Cargoes

File Image (CREDIT: AdobeStock / (c) Leeylutung)

Four U.S. Senate Republicans from oil refining states urged the Trump administration on Thursday to not block oil shipments from Venezuela as part of U.S. sanctions against the country, saying it could raise costs for U.S. fuel consumers.   The United States sanctioned President Nicolas Maduro and

Odfjell Drilling Signs Contract with Aker BP

Image: Odfjell Drilling

 Odfjell Drilling signed a contract with Aker BP ASA for Deepsea Stavanger (6th generation semi-submersible) for a period of approximately 9 months with commencement in February 2018 and completion around October 2018.   The contract is for exploration and development drilling at various locations in the Norwegian Sea and the Barents Sea.

Husky Energy Pact for Canadian Offshore Project

Photo: Husky Energy Inc.

 NC-Lavalin, Dragados Canada and Pennecon announced that their General Partnership (GP) has been awarded a construction contract from Husky Energy as part of the company's West White Rose Project in Newfoundland and Labrador.  The GP will build a concrete gravity structure (CGS) for a fixed drilling platform.

UK MoD Orders Containerized Diving Systems

(Image: SMP)

Submarine Manufacturing and Products Ltd (SMP) said it has won a contract with the U.K. Ministry of Defense (MoD) to design and manufacture two 20ft DNV Containerized Diving Systems (CDS).   SMP was selected through a tender process to design, manufacture and supply two identical 20ft DNV CDS. SMP

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