Fugro N.V. today announced that it has entered into an agreement to purchase USD 20 million worth of senior secured bonds issued by Electromagnetic Geoservices ASA (EMGS). This represents Fugro’s continuing interest to establish marine electromagnetics as a valuable tool in oil and gas exploration.
While Somali pirates demonstrated increased range and capabilities, there was a relative decline in pirate attacks on shipping worldwide during the first two quarters of this year, according to a report just issued by the International Chamber of Commerce’s International Maritime Bureau (IMB).
Norwegian Epic, Norwegian Cruise Line’s newest and largest Freestyle Cruising ship ever, has set its third consecutive record-breaking booking week for the week ending July 17, 2010. Booking volume was up more than 50 percent from the previous two record-breaking weeks for the weeks ending July 3 an
More than 500 fishing boats are requisitioned to clean up 183 km2 of oil-covered sea after explosions rip through port. Many fear the… [mappress] Source: asianews,July 21, 2010;
Tidewater Inc. announced today that fiscal first quarter financial results for the three months ended June 30, 2010, are estimated to be between $0.75 – $0.80 on a fully diluted per share basis. Although Tidewater does not provide its own earnings forecast or endorse forecasts prepared by others, it
Louisiana State University Endowed Chair of Banking and nationally-renowned economist Dr. Joseph R. Mason estimates that the first six months of the Obama administration’s moratorium on oil and natural gas exploration in the Gulf of Mexico will trigger a loss of more than 8,000 jobs, nearly $500 mil
Dana Petroleum announces that it has signed an agreement with BG International Limited (“BG”) to acquire a 50% interest in the El Manzala Offshore Area Concession, located in the Mediterranean Sea, offshore Egypt. The deal is subject to normal regulatory approvals. The El Manzala Offshore Area Conce
Keppel Offshore & Marine Ltd (Keppel O&M), through Keppel Shipyard Limited (Keppel Shipyard) and Keppel FELS Brasil SA (Keppel FELS Brasil), has secured two contracts totaling S$170 million (approximately USD $124 million) from repeat customers for the conversion of a Floating Production Storage and
Mitsubishi Heavy Industries, Ltd. (MHI) will reorganize its production structure for shipbuilding & ocean development business, which is currently undertaken at the company’s three shipyards in Nagasaki, Shimonoseki and Kobe. Under the reorganization, commercial vessel construction activities will b
E.ON is leading the European offshore business. According to new statistics released by the European Wind Energy Association (EWEA) 118 new offshore wind turbines with a capacity of 333 megawatts, were connected to the grid in the first half of 2010. A massive 64 percent of all new capacity was deve
Two years ago, at SMM 2008, the Imtech Marine Group was introduced as a newly formed group of companies, all renowned in the maritime market, who joined forces under the Imtech Marine Group flag. Now two years later, Imtech Marine Group is back at SMM, in hall B6, same location stand no. 210, showin
Astillero Regnicoli, one of the oldest and most regarded names in the Argentine boating industry, is adding a 7.3m (24ft) fishing/cruising vessel to its current portfolio. The new boat has a 2.45m (8ft) beam with a covered steering station and crew protection that allows walk-arounds. Powered with o
BP will sell its gas fields and gas pipeline in Vietnam, as well as assets and exploration licenses in Pakistan, as part of its effort to cover the cost of the Gulf of Mexico oil spill, a spokesman for the company said Tuesday. Neither country is a core area for BP–the two combined accounted for [&h
The Port of Hamburg has examined the possibility of deepening the Elbe River, following the first call of the largest containership handled in the Port of Hamburg, the ‘CMA CGM Christoph Colomb’. Business and port representatives have called for the deepening of the fairway of the Lower and Outer El
