Propelled by soaring orders from power plants to luxury condominiums, Hyundai Engineering & Construction is expected to post record overseas orders this year. The country’s third-largest builder by total assets secured $3.4 billion worth of overseas orders at the end of September this year. The figu
Rescuers were searching Sunday for seven Turkish seamen believed trapped inside a freighter that capsized off Denmark’s coast, killing at least one crew member, the Danish navy said. Three of the 11 crew members aboard the Slovakian-registered “Omer N” were rescued by a Russian ship in the area, whi
The 28th edition of the Rolex Middle Sea Race drew to a close with numerous crescendos of noise, entirely in keeping with a race that has rightfully claimed its place in the pantheon of offshore classics. The noise started at 1.45AM as the final yacht crossed the line in Marsamxett Harbour and ended
Plymouth-based Royal Navy warship HMS Portland has seized about two tonnes of cocaine in a drugs bust. The ship was on patrol in the North Atlantic when one of her Lynx helicopters found a suspicious looking fishing vessel.
For the first time an ice-free route has opened in the Arctic Ocean, raising the possibility of an open shipping lane through the Northwest Passage. It’s a trade route that has eluded famous explorers for centuries.
Kerry Siam Seaport is preparing to open Thailand’s largest privately run deep-seaport, with integrated logistics services in Laem Chabang by January, to serve huge shipping demand to China. Located on 250 rai and developed at a cost of 1.5 billion baht, Kerry Siam Seaport expects the multi-purpose l
The port authorities in Cape Town have started on a R4,2bn project that will more than double its containerisation capacity in the next four years on the existing footprint of the port area. The aim is to upgrade the container terminal to a modern deep-water four-berth terminal to handle 1,4-million
Production at the Marimba North field in block 15 off the Angolan coast where StatoilHydro has a 13.33% interest, has begun. According to operator ExxonMobil, Marimba North will produce 80 million barrels of oil. The goal is to produce 40,000 barrels of oil per day at peak production.
On Thursday, October 25th, the Ministry of Petroleum and Energy invited the oil companies to nominate blocks and/or combinations of blocks that they believe should be included in the 20th licensing round on the Norwegian continental shelf. The deadline for submitting nominations is 12 noon, 15 Janur
Aker Yards has signed a contract with Tide Sjø AS for three ferries dedicated to operate the link between Oslo and the peninsula of Nesodden. The ferries will be built in France at Aker Yards, Lorient. The total contract price is approximately EUR 45 million.
An offshore platform of ENI SpA (NYSE:E) unit Agip offshore Nigeria has been attacked by an armed group, an industry source told Agence France-Presse, without elaborating if there were any casualties.
Total announces the acquisition of a 40% interest in three exploration permits northeast of Ichthys on the Australian Browse Basin jointly with Inpex (60%, operator). These interests were held by ConocoPhillips. This acquisition is subject to the approval of the Australian authorities.
Wärtsilä received an order for a propulsion package from Vietnam in September 2007. The contract was awarded by the Ben Kien Shipyard in Haiphong and involves the supply of a propulsion package for a multi-purpose carrier to be built for Hai Duong Shipbuilding & Shipping Company, both companies bein
Beachcombers who salvaged over £1 million worth of car parts from the wreck of the container ship MSC Napoli have been told they can keep their beach booty. Container-loads of BMW gearboxes and windscreens were washed onto Branscombe Beach in East Devon when the 70,000-ton freighter ran aground in J
