News

A leaking tank from a sunken ship has caused an oil slick off India’s western coast, according to a defence ministry statement.

Clough Limited today announced that it has agreed to sell its offshore Marine Construction Division to SapuraCrest Petroleum Berhad (SapuraCrest), a company listed on the Malaysian stock exchange, for gross proceeds of approximately AUD127m in cash.

Iran will need some $40 billion this year to spur the development of oil and gas fields it shares with neighbouring countries, Oil Minister Rostam Qasemi said in his first interview

Based on the oil price spikes of the 1970s and 2008, oil could easily head toward $200 per barrel in the event of a similar crisis today, according to Badr Jafar, president of Crescent Petroleum.

Middle East trader Gulf Petrochem made an unexpected foray into the Asian fuel oil market by winning a semi-term tender for four cargoes, totalling up to 120,000 tonnes, from India, traders said yesterday.

A projected new Colombian pipeline to the Pacific coast could be "a reality" in approximately four or five years, Energy and Mines Minister Carlos Rodado Noriega told reporters in this capital.

The gas trading arm of Petrovietnam is in talks with Qatargas over a contract to import liquefied natural gas (LNG), the Vietnamese state oil and gas group said, with delivery expected in 2013.

LNG demand in Japan this winter is likely to be dominated by power utilities on continued uncertainty about the fate of its nuclear plants, according to industry sources and analysts.

Brazil's leading shipyard Sete Brasil said government expectations about national content requirements for building the rigs, platforms and ships needed to develop

The 105.000 Dwt shuttle tanker M/T Recife Knutsen was delivered on August 3rd 2011 from COSCO Nantong Shipyard to Knutsen NYK Offshore Tankers AS (KNOT).

Cochin Shipyard Limited (CSL), a Mini Ratna PSU under the Ministry of Shipping has declared and paid a dividend of Rs 16,86,79,400/- (Rs 16.86 crores for the year 2010 – 11).

Market sources said that SPP Shipbuilding (SPP) has lately booked orders for 20 MR product carriers (PCs) in big numbers.It emerged that SPP has obtained orders for two ships

The dry freight market faces a growing ship glut, which has battered freight rates in recent months. Owners went on a ship ordering spree before the economic turmoil in 2008

The product tanker market has been in poor shape for the best part of three years and prospects for an immediate return to healthy freight rates are not bright. Aside from the occasional, short-lived upturn, too many ships chasing too few cargoes has been

National Chemical Carriers Ltd. Co. "NCC", 80% owned by The National Shipping Co. of Saudi Arabia "NSCSA", announced that it had received on Thursday, 4th August 2011

U.S. Sen. Susan Collins and about 100 workers on Wednesday celebrated the completion of negotiations for construction of two ships that should keep Bath Iron Works’( GDBIW-Part of General Dynamics Marine Systems) employment relatively stable over the

Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logistic group announces that the Group has secured a new ship-building contract to construct two towing tugs and two deck cargo barges for PT. Pelayaran Nasional Bina Buana Raya

Blackstone is set to announce its largest renewable energy deal with the investment of a combined 2.5 billion euro ($3.5 billion) into the construction of Germany’s biggest ever offshore wind farm, the Financial Times said on Friday.

Just a year after Exuma, the 50m Picchiotti M/Y, was consigned the Perini Navi Group has launched Galileo G, a 55m Picchiotti Ice Class motor yacht from the Vitruvius® series. The yacht, launched on July 10th, is the second of three motor yachts

Keppel FELS Limited has secured a repeat order from Transocean Offshore Deepwater Holdings Ltd, a subsidiary of Transocean Ltd. for US$195 million.