News

Petroleo Brasileiro SA (PBR) is very near to closing a deal on the sale of up to $6 billion in Gulf of Mexico assets, and has narrowed talks down to

Seismic vessels are among the most specialized vessels on the ocean, and as such, have very unique operational characteristics. In consultation with key

— By Gregory Lewis and Anthony Sibilia, Barron’s Online Is the midwater-rig market poised for a pickup? We think so! Increasing demand for midwater

At the end of August, Indonesian composite shipbuilder, North Sea Boats launched one of the most unique warships in the world from their facility in East Java.

Everyone seems to looooooooove the X-bows, including Shell, who has partnered up with the Ulstein Group to come up with a next generation design of an

The Island Innovator, a DNV-classed semi-submersible drilling and well intervention rig was delivered today by COSCO Qidong shipyard to its new owner, Odfjell

Following a restructuring agreement signed today between the debt-crushed shipowner Torm, their banks, and their time-charter partners, Torm’s stock has

(Bloomberg) — Cargill Inc., which says it hires more commodity carriers than any company worldwide, and two other industrial shippers, will stop using

(Bloomberg) — Hong Kong arrested seven people and started a criminal investigation after at least 38 people were killed in the city’s worst

I covered the sinking of the COSTA CONCORDIA back in January and posted some of my initial comments in ‘COSTA CONCORDIA – Fred Fry’s Comments

Following shipyard upgrades to the Sevan Marine FPSO “Voyageur Spirit” at the Nymo upgrade yard at Eydehavn, Norway, the vessel  has since

After posting a loss of about ¥ 7.4 billion (USD $95 million) on the write-down of investment securities as a result of a decline in stock market prices, the

MAN Diesel & Turbo SE, a leading international manufacturer of large-bore diesel engines and turbomachinery, has concluded a long-term service agreement

Bermuda-based Höegh LNG announced today a new joint venture with STX Pan Ocean that gives each party a 50% stake in the  153,600 cubic meter, tri fuel,

ABB announced today the winning of a $35 million order from the Baltic Shipyard Ltd to supply Azipod propulsion and associated distribution systems for a new

With Petrobras, and thus Brazil, standing to lose $3 billion or more in lost revenues due to missed oil and gas production targets,  the head of

(Bloomberg) — Petroleo Brasileiro SA, the world’s biggest oil producer in deep waters, asked Brazilian courts and regulators to override a ruling

With a full cargo of coal destined for Karachi, Pakistan, the Marshall Islands-flagged bulk carrier Sea Moon was about 140 miles southwest of Bermuda when an

There are a few headlines going around today in some major publications and by the Associated Press claiming that China has announced plans to build 50

China’s Rongsheng Heavy Industries announced today the delivery of a pair of 380,000 DWT Very Large Ore Carriers (VLOCs); one to Brazilian ore giant