Neptune Marine Services Ltd has announced that it has successfully secured a range of new projects both in Australia and international markets valued at approximately US$25 million. All scheduled for completion in the first half of FY2010, the projects include: • A NEPSYS repair project for a new cu
Italy blocked the multimillion-dollar sale of two luxury yachts that Italian police say were destined for North Korean leader Kim Jong Il in violation of international sanctions. The 105-foot and 95-foot Italian-made seafaring vessels were ordered from the Azimut-Benetti boatyard, a maker of luxury
The Yachting division of Van der Velden Marine Systems, a member of the Holland Yachting Group, will exhibit at the Monaco Yacht Show (23-26 September 2009). Highlights of its presentation will include the BARKE® rudder, Van der Velden COMMANDER™ ram-type and rotary vane steering gear and the revolu
Mid June business school TiasNimbas Tilburg launched an education programme called ‘International Contracting’. This programme focuses on organizations operating in the offshore and construction industry. These organizations work in an environment where contracts play an essential role defining mutu
Drydocks World – Dubai, the flagship ship repair, conversion and new building yard of Drydocks World, has renewed its long-standing association with BP Shipping with the signing of a new Alliance Agreement. According to the Agreement, signed by Nawal Saigal, Managing Director of Drydocks World – Dub
Drilling of a new deepwater exploration prospect off the west coast of Ireland has been suggested by Serica Energy following the award of a new Frontier Exploration Licence in the region. Serica signalled its intention to target the Muckish prospect which is initially estimated to contain 675 Bcf of
Total has been awarded a new exploration block offshore Cameroon in the Rio Del Ray basin area. Covering a total of 83.6 sq. km, the Lunghe exploration block will be held by Total with 100% equity and it is adjacent to other concessions already held by Total offshore Cameroon. Present as a productio
According to a London-based law agency, Asian shipyards are mothballing completed vessels while waiting for the market to recover. Mark O’Neil of law firm Reed Smith in the UK said that boxships and bulkers are being mothballed while Asian builders concede the deferral of legal deliveries to cash-st
Cosalt has won a prestigious Safety at Sea Award in the Equipment category for its ground-breaking Premier 2010 lifejacket. The award was presented during this year’s Nor-Shipping exhibition in Oslo. Nominations for the award had to demonstrate an innovative and original development that has the pot
A navy warship has blown up a drugs boat after her crew were detained and three-quarters of a tonne of cocaine with a street value of £33m seized. Portsmouth-based frigate HMS Iron Duke carried out the operation on patrol in the Caribbean and later destroyed the boat deemed as a “shipping risk”. The
The Nassau Harbour Port Improvement Project is being carried out to accommodate the next generation of mega cruise ships which are scheduled to begin calling at Nassau in mid December 2009. The Project consists of dredging to provide a wider Approach Channel to Nassau Harbour and to lengthen the cru
The Philippines East ASEAN Growth Area (EAGA) Working Group on Fisheries is writing an initial draft Memorandum of Agreement (MoA) for a joint fisheries development between BIMP countries (Brunei Darussalam, Indonesia, Malaysia and the Philippines). The draft will centre on policies for the sustaina
COSCO Container Lines (COSCON) has announced a rate increase for southbound cargo from mainland China, Hong Kong, Taiwan, Japan and Korea to Australia of US$300 per TEU, US$600 per FEU and 40-foot high cube from August 1. COSCON further announced a peak season surcharge of US$250 per TEU, US$500 per
Finnish engineering firm Wartsila (WRT1V.HE) has no plans at the moment to cut more jobs at its hard-hit Ship Power unit, its chief executive said on Wednesday. The firm said in May it would cut 400-450 jobs at the division, around one third of the total workforce, due to a sharp fall in demand, and
