News

The Shaw Group has secured an engineering, procurement and construction contract from Entergy Louisiana for the construction of a dual-fuel 550MW combined-cycle gas turbine (CCGT) plant in Louisiana, US.

Canada-based Teekay has signed a memorandum of understanding (MoU) with Denmark's A2SEA to design a vessel for the installation of offshore wind foundations.

AC Energy Holdings, an affiliate of Ayala, has formed a joint venture with Trans-Asia Oil and Energy Development to build and operate a 135MW thermal power plant in Batangas, the Philippines.

In a vast hanger in a north German Fassmer shipyard, environmental pressure group Greenpeace’s latest weapon is nearing completion: the state-of-the-art Rainbow Warrior III. “The Rainbow Warrior III is much more than a flagship,” the group’s spokesman

Xiangyu Dredging Holdings Limited, the largest privately owned dredging company in China in terms of dredging volume in 2010, announced that on 29 June 2011, a wholly-owned subsidiary of the Company entered into a dredging contract with a port construction engineering company in the PRC to provide dredging services in Tianjin Port in the PRC for an aggregate revenue expected to be approximately RMB169.8 million (equivalent to about HK$198.7 million).

Keppel FELS Limited’s (“Keppel FELS”) repeat customer, Asia Offshore Drilling Limited (“AOD”) has exercised its first of two options to build a KFELS B Class jackup rig worth US$184 million.

South Korea’s Hyundai Samho Heavy Industries said it had received an order to build two liquefied natural gas (LNG) carriers worth $400 million in total from Greece’s Maran Gas.

Four years since the 2007 Credit Crisis and three since financial easing, the world economy’s comfortable phoney war is starting to feel like a real conflict. Greece is struggling to avoid default, the UK has national strikes and high street closures, US house prices are falling and, despite signs of recovery, Japan’s industrial recovery has a hard road ahead.

EU antitrust regulators are to assess whether a Spanish tax scheme that helps shipping firms acquire vessels at prices lower than market rates breaches state aid rules, the European Commission said on Friday.

Kawasaki Kisen Kaisha Ltd. (9107), Japan’s No. 3 container line, said it may take as long as a year to decide on plans for adding larger vessels, even after its two main local rivals signed deals to add big box ships.

Two shipping groups proposed a voluntary emissions-reduction tool as the European Union urged the maritime transport industry to adopt internationally binding measures

Global container freight volumes will increase this year, but in a slower growth rate compared with 2010, according to a report released by the Chinese Academy of Sciences (CAS).

Russia could raise between $750 million and $1.25 billion by floating a 25 percent stake in shipping giant Sovcomflot this year or in 2012, sources close to the placement told Reuters on Friday.

At the moment, no South Korean ships or sailors are held by Somali pirates, infamous for demanding high ransoms and their inhumane treatment of captives.

Kirby Corporation announced the completion of the acquisition of K-Sea Transportation Partners L.P., with K-Sea becoming a wholly owned subsidiary of Kirby. K- Sea is an operator of tank barges and tugboats participating in the coastwise transportation primarily of refined petroleum products in the United States.

FIJI can capitalise on the international demand for efficient shipping services by marketing and exporting seafarers especially at the officers' level.Acting chief executive officer Maritime Safety, Josateki Tagi said Fiji's maritime sector was facing problems in maintaining local highly qualified deck and engineering officers to serve and man locally registered large vessels.

China will spend more than CNY36 billion (US$5.57 billion) in the coming five years on Yangtze River dredging and navigation upgrades, Xinhua reports citing CHINA's Vice Minister of Transport Xu Zuyuan statement. This will bring the river to a new phase of rapid development.

NYK Line’s eastbound trans-Pacific volume fell 8 percent year-over-year in May, the second straight monthly decline on the trade lane for imports into the United States,

The Collaboration Combines Satellite and Maritime Experience from Orange with Consilium's Leadership in Safety and Navigation Solutions for Shipping Industry. Consilium Marine Group, a worldwide supplier of marine products and customer services, and Orange Business Services, a leading global integrator of communication solutions, announces today that they have signed a high-level global cooperation agreement.

Mercator Lines, one of the largest shipping lines in India, is planning a $150 million (R680 crore) initial public offering (IPO) of its Singapore-based coal exploration and mining unit, Oorja Holdings, by the end of 2011. The company will divest not more than 30% stake in Oorja and the listing will be done either in Singapore or London.