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The cost of shipping crude oil from the Middle East to Asia on two-million-barrel tankers may fall for a third consecutive week as vessels available for hire at the end of July outnumber cargoes. Freight rates for very large crude carriers, or VLCCs, on the benchmark route to Japan, unchanged yester
A salvage team will on Monday attempt to remove containers from a ship which ran aground on a sandbank near the East London harbour last week, the National Ports Authority (NPA) said. “We are going to discharge containers from the vessel on to shore,” said spokesperson Terry Tailor. A 400-ton crane
The state ferry Columbia was sidelined Sunday at the Ketchikan shipyard for repairs, and Alaska Marine Highway System staff members were finding alternative travel means for 380 passengers, officials said. It wasn’t immediately clear how long repairs would take. “The safety and comfort of our custom
Ship Finance International Limited (“Ship Finance”) is pleased to advise the purchase of the 2006 built jack up drilling rig Seadrill 3 for a purchase price of USD 210 million. The rig is chartered back to the seller Seadrill III Limited for a period of 15 years. The parent company Seadrill Limited
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China State Shipbuilding Corp. (CSSC) is making plans for an initial public offering on the Hong Kong Stock Exchange to raise at least US$500 million, according to a report in the South China Morning News. The company is reported to be planning a share sale for the first half of next year and has en
Ship Finance International Limited (“Ship Finance”) is pleased to advise the purchase of the 1997 built Panamax M/V Rainshadow for $28.4 million from Golden Ocean Group Limited (“Golden Ocean”). The vessel is chartered back to the seller Golden Ocean for a period of ten years at a bareboat rate of $
Martinus Brandal, former Executive Vice President of Aker ASA today assumes the role of President and CEO of Aker Kvaerner, succeeding Inge K. Hansen. Hansen joins Aker ASA as a consultant to the group’s management. “Taking over the helm of Aker Kvaerner from Inge Hansen is like taking over a ship t
Fitzroy Engineering estimates Taranaki might secure as much as $200 million of work from the nearly $1 billion Kupe gasfield project. Kupe joint venture owners announced on Thursday they were going ahead with the development. It has been estimated to cost $980 million and deliver 253 petajoules of g
This trading update is aimed at providing estimates regarding revenue and trading conditions experienced by BP in the second quarter ended June 30, 2006, and estimates of identified non-operating items expected to be included in that quarter
It is intended to construct a shipyard in Garadagh District, Baku on the basis of ship repair establishment there. Azerbaijan State Caspian Sea Shipping Company chairman Aydin Bashirov told journalists that there are 4 ship repair establishment in Baku.
Valencia is in mourning today after a train derailed in the city
A salvage team will try to remove containers tonight from a ship which ran aground on a sandbank near the East London harbour last week, the National Ports Authority (NPA) said. “We are preparing equipment and the heavy lifting crane that arrived here today (Monday), and as soon as that is done we w
