Cosco has won its first contract to build the hull of a Floating, Drilling, Processing, Storage and Offloading Vessel. The contract is valued at S$188 million (US$120 million). The vessel combines drilling, production and storage facilities and is the largest and most versatile drill ship ever built
It’ll cost $100 million to buy a ready-built ferry to run between Port Hardy and Prince Rupert, and the province is ready to help B.C. Ferries with the cost. In two separate announcements yesterday, B.C. Ferries and the Transportation Ministry outlined purchase and financing plans to replace the Que
Greece-based Diana Shipping Inc. on Monday said it assumed shipbuilding contracts from two unnamed parties for construction of two Capesize dry bulk carriers for $120.8 million. The carriers, priced at $60.4 million each, will be built by Shanghai Waigaoqiao Shipbuilding Co. and are expected to be d
China plans to cap foreign holdings in the country’s ship makers at 49 percent as the government moves to both maintain control over the fledgling industry and tap overseas know how. Foreign shipbuilders seeking to form joint ventures in China must also transfer their expertise to local partners thr
United Arab Emirates (UAE) investors are eyeing Vietnam as a good place for investment. Billionaires from the oil country are planning to inject $4.2bil in two projects in HCM City. Managing Director of the five-star hotel Millennium Airport in Dubai Bruce A. Khalili flew to HCM City in early Septem
POSCO Co. Ltd., the world’s fifth-largest steel maker, is looking to buy an Asian steel maker as it fights for survival in the global market after the mega-merger of Mittal Steel and Arcelor. The formation of Arcelor Mittal, a giant capable of producing more than 100 million tonnes of steel a year,
Exploration well 6406/3-7 has been completed by operator Statoil on the Antares prospect in production licence 314 in the Norwegian Sea without encountering mobile hydrocarbons. The group now plans to drill three further exploration wells in this part of the Halten Bank area, which lies south of the
An MIT researcher has a vision: Four hundred huge offshore wind turbines are providing onshore customers with enough electricity to power several hundred thousand homes, and nobody standing onshore can see them. The trick? The wind turbines are floating on platforms a hundred miles out to sea, where
Animal rights extremists have been blamed for freeing thousands of halibut from cages at a fish farm in Argyll. Strathclyde Police launched an inquiry after 15,000 fish were released from the Kames Marine Fish Farm, near Oban. It has been reported that the letters ALF – for Animal Liberation Front –
Keppel FELS, a wholly-owned subsidiary of the Singapore-based multinational Keppel Corpora-tion, is on schedule to supply two jack-up offshore drilling rigs to Qatar
BP was hit by yet another setback on Monday when the company was forced to announce that production at its showcase Thunder Horse oil and gas field will not start until mid-2008, 18 months later than planned. News of the delay, caused by problems with the project’s subsea infrastructure, caused oil
A vessel originally launched in Port Glasgow by The Queen is back in Greenock, before heading for a new life in the South Atlantic sailing around the Falkland Islands as a Fisheries Patrol, reports the British press. Pharos SG was launched at Ferguson’s in December 1992 for the Northern Lighthouse B
Six years after it expanded its operations to the US, WA shipbuilder Austal has bought out its minority American partner in the rapidly growing venture for $20.6 million. The acquisition of the 30 per cent stake from Bender Shipbuilding & Repair Co values the entire operation in Mobile, Alabama, at
Following a series of tests carried out over the past four months that revealed metallurgical failure in components of the subsea system, BP announced today that it plans to retrieve and rebuild all the sea-bed production equipment from its Thunder Horse field in the deepwater Gulf of Mexico. BP sai
