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Diana Charters out Sagitta to Hapag-Lloyd

Sagitta (Photo: Diana Containerships)

Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hapag-Lloyd AG, Hamburg, for one of its Panamax container vessels, the MV Sagitta. The gross charter rate is $9,500 per day, minus a 1.25 percent commission paid to third parties,

Jee Sees Rise in Pigging and Plugging Projetcs

Photo: Jee

Jee Ltd. said its pigging and plugging division has had 11 new projects awarded by six different clients across Europe, Africa and South East Asia in Q1 of 2017. The new projects, nine of which relate to pigging and two to plugging projects, are being delivered alongside eight contracts continuing from 2016.

Maersk to Pay $4 Bln for Hamburg Sud

File photo: Hamburg Sud

The world's biggest container shipping company Maersk Line will pay 3.7 billion euros ($4.02 billion) for its acquisition of smaller German rival Hamburg Sud, it said on Friday.   Combined, the two companies will be able to realise annual operational savings of about $350 million to $400 million,

BW Offshore to get FPSO from Keppe

Keppel Shipyard Ltd (Keppel Shipyard), is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to BW Catcher Limited, a wholly-owned subsidiary of BW Offshore.   When completed BW Catcher will be on a 7-year fixed term and 18 years of options contract with Premier Oil and

TechnipFMC wins EPC Contract

Photo:  TechnipFMC plc

TechnipFMC  has been awarded by Zakum Development Company (ZADCO) an Engineering, Procurement and Construction contract (EPC3 project) for a sulfate reduction plant on West Island located offshore Abu Dhabi, United Arab Emirates (UAE).   The objective of the EPC3 project is the installation of a sulfate

Wilhelmsen Acquires Drew Marine Technical Solutions

Thomas Wilhelmsen (Photo: Wilhelmsen)

The Wilhelmsen group has signed an agreement to acquire the technical solutions business from Drew Marine.   “This acquisition offers a unique opportunity to enhance the scale and geographic reach of our marine products division,” said Wilhelmsen group CEO, Thomas Wilhelmsen.   The acquired business

Updated Forecast: Floating Production System Orders

© ggw / Adobe Stock

World Energy Reports has released its midterm five year forecast of production floater orders. The forecast, detailed in the March 2017 WER report, reflects positive and negative developments in underlying business drivers since WER’s five year forecast last October.   Positive developments Likelihood that the November U.

Keppel FloaTEC Secures Contract for TLWP in Vietnam

Keppel FloaTEC LLC, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract worth about $40 million from PTSC Mechanical & Construction (PTSC M&C) to provide engineering, technology and construction management support services for the Repsol Ca Rong Do Tension

Frontline Takes Legal Battle over DHT to Marshall Islands

File photo: DHT

John Fredriksen's Frontline is switching its legal battle for control of tanker operator DHT Holdings from New York to the tiny Marshall Islands after making a fifth offer for the company this week.   Frontline, controlled by Norwegian billionaire Fredriksen and owner of a 14.5 percent stake in DHT,

Poland to Receive first US LNG Delivery in June

File Image: CREDIT GAC

Poland will receive its first liquefied natural gas supplies (LNG) from the United States in mid-June as a result of a deal Polish gas firm PGNiG signed with Cheniere Energy, state-run PGNiG said on Thursday.   Cheniere Energy will make the spot delivery at the Swinoujscie terminal on the Baltic Sea.

Daewoo Shipbuilding books first Quarterly Profit in 4 years

File Image (CREDIT: AdobeStock / (c) Burnel11)

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd posted its first quarterly profit in more than four years on Thursday, as on-time delivery of higher-margin vessels as well as cost-cutting measures helped the bottom line.   The world's largest shipbuilder in terms of orderbook reported an operating profit of 292 billion won ($257.

Baltic Index Down for Eighth Straight Session

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for an eight straight session on Thursday as rates for panamaxes and smaller vessels slipped, even as capesize rates strengthened.   The overall index, which factors in rates for capesize, panamax,

BP sheds Petrochemical Stake to Sinopec

BP has agreed to sell its 50 percent stake in the Shanghai SECCO Petrochemical Company to a subsidiary of its joint venture partner Sinopec for $1.68 billion, the British oil major said.   The sale represents BP's first major divestment of a year in which it expects to sell assets worth between $4.

Hyundai Heavy's New Orders Tallied at USD 2.3 bln

Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding group, announced today that it won 39 ships worth $2.3 billion for January – April period, which is the largest ship orders for the comparable period in three years.  HHI Group won 18 ships worth $900 million in April alone. Since

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