YILDIRIM Acquires 20% of CMA CGM’s Share Capital

Following its meeting under the chairmanship of Jacques R. Saadé, the Board of Directors of CMA CGM, the world’s third largest container shipping company, announced today that a final agreement has been reached between CMA CGM shareholders and YILDIRIM Group of Turkey.

Kongsberg Awarded Simulator Contract With Swedish Army

KONGSBERG is awarded a contract worth SEK 100 mill. for the development and delivery of the new Combat Training Centre – Ground Based Air Defence (CTC-GBAD) for the Swedish Armed Forces. CTC-GBAD will be installed in the existing Air Defence training centre in Halmstad. The Combat Training Centre will consist of simulator based training equipment…

SITC places four-boxship order

SITC International Holdings announced its wholly owned subsidiary, SITC Development, had entered into shipbuilding contracts with Yangfan Group to order four 1,100 teu boxships at the Zhejiang-based shipbuilder at a total cost of $72.4m. SITC International said in a statement to the Hong Kong Exchange that the four container vessels were scheduled for delivery in…

MOL, Vale Sign Long-term Transport Contract for 2 VLOCs

Mitsui O.S.K. Lines Ltd. (MOL; President: Koichi Muto) today announced the signing of a long-term transport contract with Vale International SA, a subsidiary of Vale S.A. for two very large ore carriers (VLOCs) on November 18. Two 300,000 DWT-class newbuilding vessels, which will be constructed at Universal Shipbuilding Corporation and slated for completion in 2012…

GDF SUEZ takes over operatorship of the Norwegian gas & oil field Gjøa

On Thursday 25 November the operatorship for the Gjøa field was transferred from Statoil to GDF SUEZ E&P Norge AS. The operatorship’s transfer of such a producing asset on the Norwegian continental shelf represents a milestone for both GDF SUEZ and the Norwegian petroleum sector. Development of the Gjøa field has been the largest ongoing…

Aker Solutions signs first subsea contract with CNOOC

Aker Solutions has signed a subsea contract with the state-owned oil company China National Offshore Oil Corporation (CNOOC) to supply a subsea production system for the Yacheng 13-4 gas field. Both parties inked the contract at an official signing ceremony at Zhanjiang, China. The contract, valued at approximately USD 20 million, is the first subsea…

Cargotec Cargotec Wins Environment Protection Award

Cargotec’s MacRack solution for side-rolling hatch covers has won the International Bulk Journal’s (IBJ) environment protection award. IBJ Awards judges were impressed by the MacRack system, which is based on environmentally-friendly electric-drive technology that offers shipowners energy savings, and eliminates hydraulic oil leaks along with the need to fit hydraulic pipework on board.

Breakthrough Subsea Deal for Aker Solutions

Aker Solutions has secured an important contract to supply heating systems for the subsea pipelines that Technip will deliver and install for the Goliat field in the Barents Sea. Contract value is approximately NOK 80 million.

DryShips Inc. Secures Option to Construct UDW Drillships

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that it has entered into an agreement with a major South Korean shipyard, for the option to construct up to four ultra deepwater drillships.

Maersk and Argos Settle $14 million Dispute

Maersk Line and UK retailer Argos have settled a US$14 million dispute over allegations that the carrier reneged on a contract to ship 5,000 40ft containers. It is not known what the terms of the settlement were, but in a brief statement Maersk said the companies were no longer in dispute and that the retailer…