A Chinese oil company found a new oil and natural gas well off China’s northeast coast, the latest such find expected to expand its reserves. The Hong Kong-based China National Offshore Oil Company Ltd. announced the find Tuesday. It was drilling in the Bohai Bay when it located the well, which is e
A Consortium formed by Petrobras, BG, and by Portuguese Petrogal found light oil in the 1-BRSA-369A-RJS (1-RJS-628A) well, located in ultradeep Santos Basin waters. The well, which is still being drilled, is located in a new exploratory frontier area, where water depth reaches 2,140 meters. The well
A freight ship sank off the coast of the Yemeni island of Socotra in the Indian Ocean due to bad weather, killing seven crew members. At least 13 crew members were rescued, but one later died in an Aden hospital, government officials said. Six sailors drowned in the sinking. The ship,
The Kenya Ferry Services (KFS) may resort to the quotation system for the purchase of two new ferries estimated to cost Ksh1 billion ($13.9 million). The ferry services provider for the Likoni channel has been in a dilemma for the last two years after a loser in the initial tender went to the procur
Along North Carolina’s coastline, a new tone is creeping into conversations about offshore drilling. Where once there was nearly universal opposition to platforms in the ocean, some speak of them in a new way — as a possibility, an inevitability, even a financial benefit to a region long fearful of
Ennore Port has chosen a Sical Logistics-led consortium to build a Rs 5.5-billion iron ore terminal at the port near Chennai. The iron ore terminal will be developed on a build-operate-transfer (BOT) contract for 30 years including the construction period, likely to start in FY09. The terminal will
The decision by Sinopec of China to pay US$1 billion for the right to explore for oil in deep water off Angola has shocked the West, which fears it could be left behind in a global scramble for resources. The rights to prospect for oil off the coast of the impoverished African country were selling [
ABG Shipyard (Q, N,C,F)* has delivered and transferred the vessel 61M Anchor Handling Tug / Supply Vessel to Egypt based Maridive & Oil Services SAE. The vessel is worth Rs 410 million. Following the delivery of this vessel, the order book position of ABG Shipyard stands around Rs 23,100 million. Th
The Viet Nam Shipbuilding Industry Group (Vinashin Group) will exert an all-out effort to make the country the world’s fourth largest shipbuilder by 2015. President and CEO of Vinashin Group Pham Thanh Binh spoke about the plan at a ceremony in Ha Noi on July 8 to announce the Prime Minister’s decis
South Korea’s Daewoo Shipbuilding and Marine Engineering has said it had won 1.1 billion dollar in orders to build an oil rig and a drilling ship for Brazilian and US clients.
The world’s largest container ship Xin Los Angeles made its maiden call to Westports in Klang Port near Kuala Lumpur Sunday. “Xin LA’s arrival at Westports is a testimony of the growing bilateral trade between Malaysia and China,” Malaysian Deputy Prime Minister Najib Tun Razak said. Over the past d
Pressure on freight rates as a glut of tonnage begins floating into service has failed to put the brakes on newbuilding orders, and lines are injecting billions of dollars into new and larger vessels. Many of the June orders are for vessels greater than 8,000 TEU and the total price tag is equally i
The tender for the privatization of the Mangalia Shipyard could resume by fall, as new evaluation procedures are under way, said the shipyard’s General Director Eugen Tudor. How soon the procedures will start depends on the Ministry of Economy who is in charge of preliminary proceedings, explained t
The giant cruise ship named The World is anchoring at Saigon Port for its first-ever trip to Vietnam. The Bahamas-flagged ship, which arrived here yesterday, carries some 130 tourists and crewmembers from mainly the United States.
