Shell announced the final investment decision for the Penguins field redevelopment project in the U.K. sector, which includes the construction of a new-build Sevan Marine designed cylindrical floating production, storage and offloading (FPSO) vessel…
Swedish tanker owner Concordia Maritime has chartered in two more MR (ECO) vessels, while also extending the contracts for two of the currently chartered MR (ECO) vessels by a further year. A contract to charter out the P-MAX tanker Stena Performance has also been signed…
Greece-based Tsakos Energy Navigation (TEN) has announced that it has sold for $65.2 million gross, through a five-year sale and leaseback transaction, the 2005-built Suezmax tankers Eurochampion 2004 and Euronike. The sale proceeds have been used to reduce debt and add $16…
Four Japanese companies will invest in a new company established by compatriot Modec with an aim to provide a floating, production, storage and offloading (FPSO) unit for the Petrobras-operated Sepia field offshore Brazil. 'MODEC, Mitsui…
Norwegian shipping company Eidesvik Offshore ASA has signed a letter of intent (LoI) with Seabed Geosolution for the use of two vessels. Contract commencement are ultimo January to primo February and the duration is expected to last for the remaining part of 2018…
BW Offshore has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022. The company has also announced…
The Port of Rotterdam Authority signed agreements with two contractors relating to what is known as the port’s dry infrastructure. One contract covers maintenance of the roads in the port and the other maintenance of the green spaces. Following a tendering procedure…
Seaspan Corporation announced that it entered into a letter of intent (LoI) pursuant to which Fairfax Financial Holdings Limited, through certain subsidiaries, will make an investment of US$250 million in Seaspan in exchange for the issuance by Seaspan of 5…
TOP Ships, an international ship-owning company, announced that it has extended the time charter agreements with Stena Bulk AB (ex Stena Weco AS) by 12 months for M/T Stenaweco Energy and M/T Stenaweco Elegance and by 18 months for M/T Stenaweco Evolution and M/T Stenaweco Excellence…
Kalmar, part of Cargotec, has been awarded a contract for the maintenance and repair of mobile equipment from PSA Corporation Ltd for the next 3-year term. The contract supports the overall maintenance effort of a fleet of up to 700 prime movers and trailer sets at Pasir Panjang Terminal…
Solstad Farstad ASA (SOFF) has entered a Bareboat contract with Bahia Grande LN S.A for the CSV 'Normand Commander” for operation in Argentina. The contract period is 5 years firm with further 1x3 years option, commencement of the contract is February 2018…
Hyundai Glovis, a logistics company headquartered in Seoul and part of the Hyundai Kia Automotive Group, has secured 1.42 trillion won (US$1.3 billion) in orders to ship vehicles, said a report in RTT News. The auto freight unit of South…
South Korean shipyards have sharply raised their order targets for next year on expectations that the shipbuilding sector will improve, Yonhap reported. The country's three major shipyards - Samsung Heavy Industries (SHI), Daewoo Shipbuilding & Marine Engineering (DSME)…
Norwegian shipowner Golden Energy Offshore Services has been awarded a contract extension for one of its platform supply vessels with Total in Nigeria. The company announced end of June 2017 to have entered into a contract with Total E&P…
Triyards Holdings, the offshore marine division of Ezra Holdings, has swung deep into the red following the termination of two shipbuilding contracts worth some $51 million. 'The Board of Directors of Triyards Holdings wishes to announce that its wholly owned subsidiary…
