Kongsberg Maritime has entered a partnership with class society DNV GL to issue Product Certificates for Maritime Simulator Systems required by maritime training providers in order to meet flag state requirements under STCW regulation I/12.…
The Shah Deniz consortium today announced the award of a $1.5 billion contract for the transport and installation of the deeper water subsea production systems for Shah Deniz Stage 2 to the BOS Shelf LLC, Saipem Contracting Netherlands B.V. and Star Gulf FZCO consortium…
Ithaca Energy Inc. announced having successfully completed its planned semi-annual reserves based lending (“RBL”) facilities review and continues to maintain in excess of $100 million of funding headroom ahead of planned first hydrocarbons from the Greater Stella Area in the third quarter of 2016…
BAE Systems has received a $72 million contract from the U.S. Navy to produce and deliver propulsor systems for Block IV Virginia-class (SSN 774) submarines. The award continues the company’s current position as the premier provider of propulsors to the U…
Indian Petroleum Minister Minister Dharmendra Pradhan says India has expressed interest in setting up an LNG terminal at Chahabar port in Iran to ship back home natural gas from Persian Gulf nation, reports PTI. India is ready to invest…
South Korea’s largest container operator by capacity Hanjin Shipping's creditors are expected to approve a corporate rehabilitation program for the struggling container line, local media reports suggest. Creditor banks of cash-strapped…
Unfamiliar specifications and processes often result in rework, delays and misunderstandings, and are adding thousands of engineering hours to the design and construction of offshore oil and gas installations. Cost savings are delivered by addressing variations in owner…
On the European continent, the Alps form a natural barrier for international transport. Containers can be transported to Southern Germany, the Czech Republic or Poland cheaper as well as more sustainably via North European ports than via Southern European ports…
The Society of Petroleum Engineers (SPE) Aberdeen Section has announced the recipients of its annual student bursaries programme for 2015-2016. In total, £7,500 was awarded to seven students attending Aberdeen, Robert Gordon, Dundee, Heriot-Watt and Strathclyde universities…
Nordic American Tankers Limited ('NAT' or the 'Company') announced today that it has entered into an agreement to acquire four existing Suezmax sister vessels built in Japan at a world-class shipyard. The aggregate price is $106 million. NAT expects the vessels to be delivered during May…
Highlights * Earnings of $1.8 billion decreased 63 percent from the first quarter of 2015. * Earnings per share were $0.43 assuming dilution. * Cash flow from operations and asset sales was $5 billion, including proceeds associated with asset sales of $177 million…
JPMorgan Chase & Co disclosed on Friday that its 'criticized' loans to the oil and gas industry more than doubled in the first three months of the year.Criticized oil and gas loans, which are defined by regulators as doubtful, substandard or deserving of special mention…
Det Norske Oljeselskap ASA slumped to an operating loss in the first quarter on significantly lower revenue. The company reported a revenues of $ 205 (Q1 2015: USD 329) million in the first quarter. Production in the same period was 60,600 barrels of oil equivalent per day…
The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa this is even more the case due to less developed land infrastructure. European…
The world’s oceans must be managed well to ensure the potential of an “ocean economy” that was worth US $ 1.5 trillion in 2010. 'Calculations based on the OECD’s Ocean Economy Database value the ocean economy’s output (measured in terms…
