Frontline Ltd. (“Frontline”) announces that on 14th August 2006 it has sold its entire holding of 3,860,000 shares in General Maritime Corporation (“General Maritime”) for USD $40 per share. The shares were sold to World Wide Shipping. Frontline will record a gain of approximately USD $ 9.7 million
Shell Exploration & Production (Shell) today welcomed the delivery of first gas from its Pohokura Project in Taranaki, New Zealand.Gas began flowing from the three completed onshore wells through the production station at Motonui, near New Plymouth earlier this month. The field, which is the second
A German shipyard has built and floated a third container carrier for a Russian shipping company in the Far East, a company spokeswoman said Tuesday. Under a contract, the container vessel will be the last out of three carriers built by Aker Ostsee yard in Wismar, Germany, for Russia’s Far Eastern S
Chattanooga businessman Henry Luken, who looked at the possibility of constructing a shipyard for yacht production at the Combustion Engineering site in Chattanooga, will build it in Loudon County instead. Mr. Luken is part owner of Christensen Shipyards Ltd., of Vancouver, Wash. That facility has r
The name may not exactly roll off the tongue, but when the Navy christens its first littoral ship next month, it will inaugurate a new breed of warship that Navy leaders say is perfectly tailored to confront the emerging, unconventional threats of the 21st century. So named because they can navigate
The
The Larkspur Ferry Terminal is undergoing a $3.1 million dredging project to clear the channel of sediment. Runoff from adjacent Corte Madera Creek and currents from San Francisco Bay cause sediment to fill the channel, which was last dredged in 2002. The Dutra Dredging Co. of San Rafael is doing th
Anglo-Dutch steelmaker Corus Group Plc will increase prices of long products by up to 10 percent from October 1 given strong market demand, it said on Tuesday, joining rivals which have already hiked prices. “Demand across our main markets such as construction, commercial vehicles and shipbuilding c
Chevron Corporation (NYSE: CVX) today announced that its Australian subsidiary has successfully bid for the rights to a deepwater exploration permit with gas potential offshore Western Australia. Chevron Australia Pty Ltd will be the operator and will hold a 50 percent interest, and Shell Developmen
Indago Petroleum Ltd said it has entered into a new joint petroleum concession agreement with the Government of Ras Al Khaimah, in the UAE, over the offshore Saleh field, but has given up its Ras Al Khaimah onshore license. The new concession area encompasses a producing offshore gas field located 4
Genco Shipping & Trading Limited (Nasdaq: GSTL) today announced that the Company has entered into an agreement in principle to time charter the Genco Commander, a 1994 Japanese-built Handymax vessel, for eleven to thirteen months with A/S Klaveness for a gross rate of $19,750 per day minus five perc
Rolls-Royce has won an order for the largest naval gas turbines in the world to power a next generation US Navy warship. Two Rolls-Royce MT30 gas turbines will power the second Lockheed Martin-designed Littoral Combat Ship (LCS). Another set of the same turbines has already been ordered and installe
On August 16, the Korean representatives will arrive in Baku to hold talks on the creation of a new shipbuilding and ship-repair enterprise in Azerbaijan, the chief of Azerbaijan State Caspian Shipping Company (SCSC) Aydin Bashirov told Trend. It is expected that the talks on this issue will also be
North Hoyle and Scroby Sands offshore wind farms produced enough energy to power almost 80,000 homes and saved more than 250,000 tonnes of greenhouse gas emissions, according to the first annual reports from the facilities. Also detailed in the reports were positive results on wildlife impact and sa
