News

Mitsubishi Heavy Industries, Ltd. (MHI) has decided to book an extraordinary loss of approximately $585 million from its cruise ship business in the company’s consolidated financial results for fiscal year (FY) 2013 (ending March 31, 2014).

What a difference a few months can make. Russia ended 2013 with record natural gas supplies to Europe, reaching perhaps a third of European demand.

Without Crimea, Ukraine looks set to lose an important piece of its economic and energy future: valuable undersea oil and gas fields

The major geopolitical event facilitating the free flow of Mideast crude oil

Grupo Unidos por el Canal (GUPC), the consortium of international construction companies

Marubeni Corporation has reached agreement with GDF SUEZ (France) on the participation in the offshore LNG receiving terminal project in Uruguay.

E.R. Schiffahrt has become the first shipping company to implement the DNV GL e-learning course “Energy Efficiency on Board”

Keppel Offshore & Marine Ltd’s (Keppel O&M) subsidiaries Keppel Shipyard Ltd

South Korean shipbuilder, Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) will be responsible for the construction of this ARC7 ice-class tanker, the first of its kind in the industry.

MONTHLY LIST OF VESSELS BEACHED AT THE INDIAN DEMOLITION YARDS

Russian Maritime Register of Shipping has certified the quality management system of the Caspian Sea Oil Fleet (for compliance with the requirements of ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007 standards) and the Azerbaijan State Marine Academy (for compliance with ISO 9001:2008 standard).

Sovcomflot, Russia’s largest shipping company, has taken delivery of its latest LNG carrier – the ‘Velikiy Novgorod’ – from South Korea’s STX Offshore & Shipbuilding.

Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has secured a contract from TS Offshore Limited (TS Offshore), to construct an ultra-high specification jack-up rig worth about US$500 million.

Louis Dreyfus Armateurs (LDA) Group has sold its Dutch subsidiary Fairmount Marine to Dutch group Royal Boskalis Westminster NV (Boskalis).

West Texas Intermediate fell for the third time in four days before a government report forecast to show U.S. crude stockpiles expanded and amid concern consumption in China may falter.

Hedge funds increased bullish bets on natural gas for the fifth time in six weeks as arctic weather stoked demand for the heating fuel, depleting stockpiles and sending prices to a five-year high.

Euronav said that the meeting of shareholders has approved a USD 300,000,000 capital increase against issuance of 32,841,528 new shares for Maersk VLCC fleet acquisition.

A team from the Research Department of leading international classification society Bureau Veritas has won the prestigious 2013 CEMT Award in recognition of their research in the field of hydrodynamics.

For Q4 2013, EMS Seven Seas ASA reported total revenues of USD 106.1 million, an increase from USD 97.3 million in Q3 2013, but a year-on-year decrease compared to USD 117.7 million in Q4 2012.

Jaya Holdings Limited (Jaya) has agreed to sell the entire issued and paid up share capital of all its subsidiaries (the sale companies) to Mermaid Marine Australia Limited for aggregate cash consideration of approx $495 million.