China’s top shipping group, China Ocean Shipping (Group) Co. (COSCO), plans to float its container shipping arm, the world’s seventh largest, in a Hong Kong IPO that is expected to raise more than US$1 billion. Hong Kong-listed COSCO Pacific Ltd., which leases shipping containers and operates termin
PPL Shipyard, a subsidiary of SembCorp Marine has signed a rig building contract worth US$121 million with Wilsuperior Ltd, a subsidiary of Awilco Offshore ASA for the construction of a Baker Marine Pacific Class 375 Deep Drilling Offshore Jackup Rig. The Construction Contract is an option that PPL
CNOOC Limited recently announced that the company and ConocoPhillips China Inc. (COPC), the cooperative partner of Penglai Oilfield 19-3, had signed a contract with the China State Shipbuilding Corporation (CSSC) for building a super large 300,000 DWT (Dead Weight Ton) floating, production, storage
Vietnam
Shell Development (Australia) Pty. Ltd., has sold its interests in Laminaria and Corallina oil fields, adjacent AC/P8 exploration acreage, and the Northern Endeavour floating production, offloading, and storage vessel (FPSO) to Woodside Energy Ltd. and Paladin Oil & Gas (Australia) Pty. Ltd. under s
The year 2004 has been pretty volatile for the global shipping industry, including the Indian players, as freight rates were impacted by uncertain moods of the oil market and a natural disaster towards the end of the year. Rising global oil production and demand led to shipping companies ramping up
For the seventh time, the Dubai Department of Tourism and Commerce Marketing (DTCM), with the Dubai Cruise Terminal, is participating in the 2005 edition of Seatrade Cruise Shipping Convention in the US city of Miami from March 14th.
Federal regulators have approved a $360 million redevelopment project of the Port of Anchorage. The Federal Maritime Administration endorsed the project this week, determining that it will have no significant impact on the surrounding environment. The first phase, to improve rail and road access, be
MARITIME officials in Istanbul were struggling today to retrieve three LPG containers from the sea after they plunged into the Bosphorus Strait when the ship carrying them sank. Officials said the Bosphorus Strait was closed to maritime traffic after a roll-on-roll-off (ro-ro) vessel carrying seven
At Cape Canaveral on Friday, Inmarsat launched the world’s largest commercial communications satellite into a trajectory that will place it at 64 degrees east over the Indian Ocean. But the communications company also started the countdown to what is widely expected to be a flotation on the stock ma
Growing demand from the international market will soon turn China into the world’s largest shipbuilding nation, Xinhua reports. China, which has been the world’s third largest shipbuilder for years, is “very likely” to rank first in the near future if it maintains the growing momentum, said He Rongg
The objections of environmentalists notwithstanding, an ambitious project to dredge a canal between the southern tip of India and Sri Lanka to save ships a 400 km detour could finally take off. The Rs.20 billion Sethusamudram project is a sore point between the central and Tamil Nadu governments.
A dredging ship used to clear channels off the coast of Newport Beach accidentally ran aground for the second time in five weeks when its propeller got tangled in cables, the Coast Guard reported. The 298-ton vessel got stuck on a sandbar Friday night as it was helping dredge Santa Ana River storm-d
It was at 20 hours 04 minutes and 20 seconds GMT on Sunday 13th March that the 60 foot monohull, Benefic skippered by Karen Leibovici, crossed the finish line of the Vend
