Ship Finance International Limited (NYSE:SFL) (“Ship Finance” or the “Company”), today announced that it is has agreed to sell five vessels to Frontline Ltd (“Frontline” or the “Buyer”) in connection with Frontline’s proposed spin-off of Sealift Ltd., a dedicated heavy-lift company.
Wärtsilä is supplying air/oil lubricated sterntube seals and bearings to Chinese shipyard Shanghai Waigaoqiao Shipbuilding (SWS) for a series of new tankers under construction by SWS for Singapore-based Ocean Tankers. A complete Wärtsilä package of JMT Airguard seals, sterntube bearings, and shaftli
Korea’s shipbuilding industry is still the envy of the world, outpacing its foreign rivals in technology, skill and orders. But now, in a quest for cheaper land and labor, some Korean shipbuilders are moving their operations overseas.
Victoria Shipyards will soon negotiate a $1.45-billion contract with the federal government to maintain the navy’s four submarines. “We’re ecstatic,” said Malcolm Barker, vice-president of Victoria Shipyards.
Norwegian-owned Seadrill Ltd. said Wednesday it won a US$580 million (ğ446 million), three-year contract for an offshore drilling rig to be used off China by a subsidiary of Husky Energy Inc.
ABG Shipyard (BSE:532682), the largest private sector shipyard in the country, has bagged a Rs 10.3 billion (US$229 million) order from Singapore-based Pacific First Shipping Pte for supply of 12 vessels.
RasGas recently named its 11th LNG vessel Ejnan at a shipyard in South Korea’s Goje Island. Ejnan, named after an island off Qatar’s west coast, has an cargo capacity of 145,000cu m. It was built by Samsung Hyundai Industries (SHI) at the Goje Island shipyard. Besides being the 11th LNG vessel to en
The first luxury yacht has arrived at Port Louis Grenada. The 128 ft mega yacht called Savvy is owned by Port Louis developer and Chairman Peter De Savary. Savvy arrived in Grenada late last week and is the first yacht to be berthed at the new Port Louis site.
Anchorage, Alaska – The U.S. Coast Guard is towing a fire-damaged fish processing ship damaged by fire toward Dutch Harbor. The 142 people aboard the Seattle-based Stellar Sea are in good conditions with no injuries. Last night, about 90 miles north of Dutch Harbor, the ship caught fire and was left
Odense Staalskibsværft A/S has sold Ejendomsselskabet Lindø A/S and Munkebo Forsyningsselskab A/S to Maersk A/S, effective 1 January 2007. “We have chosen to sell our two real estate companies in order to strengthen the equity base and cash flow”, says Peter Jann Nielsen, CFO of Odense Staalskibsvær
The U.S. Navy has shuffled its weapons-buying management team, moving top managers away from some of its highest-profile programs. Rear Adm. Charles Hamilton, the Navy’s program executive officer for ships, is starting a new job as an aide to Assistant Navy Secretary Delores Etter, the Navy’s top we
With one restaurant, five retail shops and two refreshment carts now open in Yacht Haven Grande, the $160 million waterfront development has been doing a brisk business in the last few days, even though it remains under construction. Shaded by umbrellas and afforded views of about a dozen luxury yac
The Snøhvit partnership has concluded that the development of oil reserves associated with the Snøhvit gas field, located in the Barents Sea, is not economic. Further appraisal activities will not be pursued. The plan for development and operation (PDO), approved in 2002, was drawn up solely around
A boat builder designed high-speed vessels for international drug smugglers, a court has heard. Ian Rush, 42, is accused of continuing to build boats virtually invisible to radar after his partners were arrested. The boats were made for criminals to transport drugs between North Africa and Spain, Ip
