News

Oil and gas will remain the backbone of the world’s energy supplies for a long time to come, and the offshore sector continues to expand in every

SINGAPORE (Dow Jones)–Sembcorp Marine Ltd. (S51.SG) on Tuesday said it has secured a US$385.5 million order to build a semisubmersible well intervention

SHANGHAI (Dow Jones)–China aims to increase annual sales by domestic shipbuilders to CNY1.2 trillion (US$189.7 billion) by 2015 as it works toward its

  Mitsui O.S.K. Lines (MOL) announced the launching of the hybrid car carrier Emerald Ace at the Mitsubishi Heavy Industries, Ltd, Kobe shipyard.

HONG KONG (Dow Jones)–Orient Overseas (International) Ltd. (0316.HK) said Monday it expects trading conditions in 2012 to remain tough as high fuel costs

RIO DE JANEIRO (Dow Jones)–Brazilian oil field services company OSX Brasil S/A (OSXB3.BR), part of Brazilian businessman Eike Batista’s industrial

ABB released this video today that gives a new look at their Azipod ship propulsion systems that they are successfully integrating on board a number of

(Dow Jones) Ship Finance International Ltd. (SFL) said its chief financial officer plans to step down in the second quarter to join another shipping company.

Prosafe has received a Notice of Award for a minimum nine-month contract by Shell Philippines Exploration B.V. (‘SPEX’) using the Safe Astoria for

Hyundai Mipo has reportedly won a $198 million newbuild order from an undisclosed European client for 4 platform supply vessels.  The report from the Thai

RIO DE JANEIRO -(Dow Jones)- Shareholders of Brazilian drilling-rig holding company Sete Brasil approved a capital increase as the company prepares to line up

GLASGOW –  DEFENDER, the fifth Type 45 destroyer built by BAE Systems, has today set sail from the company’s Scotstoun shipyard to embark on her

  We are downgrading Danaos to Neutral from Outperform, and Seaspan to Underperform from Neutral. – Credit Suisse Despite both Danaos’

Tokyo-based shipping firm Sanko Steamship Co. is making final arrangements to seek the rescheduling of loan repayments through a private-sector intermediary to

HOUSTON (Dow Jones) — Royal Dutch Shell (RDSA) remains confident it will be able to start exploring for oil in the Arctic Ocean off the coast of Alaska

TORM has entered into an agreement to sell the MR product tanker TORM Lana. The parties have agreed not to disclose the sales price. TORM Lana will be

The Korea Times and Yonhap news reports today that South Korea’s Hyundai Heavy Industries (HHI) has cumulatively built over 100 million tons of ships

This is one of the many issues facing the engineers at Shell who are creating the world’s largest man-made floating object, the Prelude FLNG.  This

Exxon Mobil Corp. (XOM) plans to spend roughly $185 billion over the next five years to develop new energy supplies in anticipation of growing demand. In a