After the reports of the Korean crisis stock markets immediately where effected. The question is how it would it effect the development of the recovery from the world financial crisis if the Korean dispute escalates. Shipping is still struggling and it would certainly be a huge set back for the industry. BBC reports as below: “What is motivating North Korea?…
SHI Achieves Annual Order Target of USD 8 Billion
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Samsung Heavy Industries announced on the 7th that it was the first domestic shipbuilder to achieve its order target for the year of USD 8 billion, a target that it met when it received an order for a unit of wind turbine installation vessel from a Southeast Asian shipper and a unit of FPU for oil production from North America amounting to USD 0.8 billion.
Odfjell sells ship for recycling
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Odfjell has agreed to sell the MT Bow Panther (40,263 DWT/built 1986), a parcel tanker with coated tanks, for recycling in India. The vessel will obtain Green Passport prior to delivery and Buyers undertake that the recycling yard shall submit a working plan corresponding to IMO guidelines for ship recycling. The sales price will give…
Cargotec Lay-Off Employees in Tampere
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Cargotec has completed cooperation negotiations with its current supply personnel regarding reduction of work force in Tampere, Finland on 22 November 2010. The negotiations resulted in a permanent reduction of 90 employees in the Tampere unit, of whom 10 are office workers. The reductions will take place in phases during the coming 1.5 years. In addition, supply workers’ temporary lay-offs in the Tampere unit continue.
Seadrill Secures contract extension for West Pelaut in Brunei
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Seadrill has been awarded a new contract extension by Brunei Shell Petroleum for the semi-tender assist rig West Pelaut. The production drilling assignment has a firm duration of three years, and the contract value is estimated to approximately US$131 million.
EMSA Orders New Vessel
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The European Maritime Safety Agency (EMSA) has signed a contract to provide pollution response capacity using the Limassol, Cyprus-based tanker Alexandria. The newly-contracted vessel considerably strengthens EMSA’s oil-spill response coverage of the Eastern Mediterranean Sea, a sensitive sea area given its proximity to major oil transport routes transiting the Suez Canal, and those originating in…
Container lines eye transpacific rate hikes of $400-$600/feu next year – IFW – ifw-net.com
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Member shipping lines in the Transpacific Stabilisation Agreement (TSA) claimed the early end to this year’s peak season had left the trade “lagging, relative to other Asia container markets, while operating costs continue to rise”.
Wine for Christmas – SHI Employees Celebrates
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– Peter Doehle produced wine in its own vineyard to give Christmas gifts to all employees. – Company offers wish for the successful building of 12,600 TEU container ships it ordered from Samsung Heavy Industries Peter Doehle, a German shipper, announced that it would be presenting a bottle of wine to every employee of Samsung…
SHI Signs USD 1.08 Billion Contract for Two Units of Drill Ships
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Samsung Heavy Industries, which is the first company in the domestic shipbuilding industry to achieve its annual order target for 2010, announced on the 11th that it had signed a contract to build two units of drill ships for Seadrill, a Norwegian firm. The contract amount is USD 1.08 billion.
Aker Solutions Secures Contracts for Mooring and Loading System
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Aker Solutions has won two contracts for the supply of mooring and loading systems in Brazil. The contracts have a combined value of approximately NOK 210 million.
Emerson’s Smart Wireless Technology Boosts Production
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Emerson Process Management’s Smart Wireless technology, based on the IEC 62591 (WirelessHART®) standard, is enabling Tecpetrol to boost production while reducing maintenance and operations costs at natural gas compression and delivery facilities in Argentina.
MTU Upgrades Series 1163 Marine Engines
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Tognum subsidiary MTU Friedrichshafen GmbH will upgrade its Series 1163 marine engines for the IMO 2 and IMO 3 emissions regulations.