Shares of shipping companies are sailing big time on the market as investors see higher profits from rising freight rates in the dry bulk carrier segment. Over the last three weeks, share prices Mercator Lines, Shipping Corporation of India, Shreyas Shipping, GE Shipping and Varun Shipping have firm
A new oil discovery has been made by Statoil in the Ragnarrock prospect near the Sleipner area in the North Sea. ‘It is encouraging that Statoil has made an oil discovery in a little-explored exploration model that is close to our North Sea infrastructure,’ says Frode Fasteland, acting exploration m
The transport ministry will develop fuel-efficiency standards for large ships over the next three years to cut carbon dioxide emissions, sources said. The standards will enable marine transportation companies to see the fuel economy of their ships, particularly large ones, before they are constructe
An accident report into the investigation of the collapse of cargo containers onboard a UK-registered feeder ship last February has been published by the Southampton-based UK Marine Accident Investigation Branch (MAIB). The findings of the report are likely to have far reaching implications througho
Awilco Offshore (AWO) and ConocoPhillips have agreed on a one year extension of the existing contract for the accommodation unit Port Rigmar at the Ekofisk Field. The contract extension is from 1 October 2008 to 1 October 2009 and has a contract value of approximately USD 55 million.
Technip has been awarded by Woodside Energy Limited a contract for the Enfield development. This field is located offshore Australia at a water depth of 550m.
Phuket-based Kingfisher Marine, the exclusive sole distributor for Horizon Yachts in South East Asia, has closed several major deals for 62ft and 73ft motor yachts in the past two months. One Horizon 62 is destined for a customer in Phuket, whilst another 62ft and also a 73ft will be for customers b
Following the successful launch of its new 37 Metre Yacht earlier this year at the London International Boat Show, Sunseeker International proudly presents its second 37 Metre Yacht M4 at Southampton International Boat Show (14-23 September 2007) on the Sunseeker pontoon.
For nearly a decade, Arnie Gemino has been thrilling tourists from Alaska to Barbados with superfast motor boat rides. Not the traditional slowpoke tour boats, Gemino’s sleek, brightly colored vessels dart across the open seas carrying dozens of white-knuckled passengers at speeds up to 55 miles per
First used in one-off yacht and powerboat designs, where cost is no obstacle in the search for a performance edge in local regattas or around-the-world races, carbon fiber has since carved a niche in categories that were once the exclusive reserve of glass-reinforced composites, metals or wood. In a
The American cruise line Celebrity Cruises is to equip the fourth ship in its luxurious Solstice class with engines from MAN Diesel. The order value is in the region of 15 million euros. The ship is to be built at the Meyer shipyard in Papenburg.
Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the third KFELS B Class design jackup drilling rig to Seadrill Limited (Seadrill), within budget and ahead of time.
Hundreds of sailors have embarked on a round-the-world boat race which set sail from Liverpool docks. Ten 68ft-long (21m) yachts hoisted their sails at 1500 BST for the start of the 35,000 mile global Clipper race.
Historic photographs of one of the world’s most famous ocean liners have been unveiled for the first time. The University of Glasgow has launched an exhibition to mark the 40th anniversary of the launch of the QE2.
