Shipping, shipbuilding, offshore news

MAY 2005

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Keppel Singmarine buys Chinese yard
Keppel Nantong will target specialized ships such as AHTS's and tugs

Mega mergers ahead in tanker sector?
Rebuffed by Genmar, Frontline is looking for alternatives

Australia names builder for AWD destroyer project
ASC Shipbuilding chosen as preferred builder

Maersk orders semis at Keppel FELS
Two deepwater development units

Electric Boat gets $9.5 million R&D contract
Part of Tango Bravo affordable submarine project?

Aker Yards to build another "cruise ship with a car deck"
Please, don't call it just a car/passenger ferry...

Senate panel finds problems with cargo security
Releases GAO reports ahead of hearings

Another jackup order for PPL
The jack up rig construction market remains red hot

Aker and Kvaerner plan new holding company: Aker American Shipping
Listed company would own Kvaerner Philadlphia Shipyard and the product tankers it's building

Incat starts construction of 112 m catamaran
Keel for wavepiercer laid in new covered shipbuilding facility

$1,2 billion in contracts for Diamond Offshore
Offshore drilling contractor announces two signed and five pending term contracts

Navy awards $3 billion DD(X) design contract
As Congress struggles with DD(X) sticker shock, Raytheon unit gets $3 billion award

More box ship orders for Aker Ostsee
Aker's German yards now have largest order backlog ever

Fredriksen's SeaDrill completes private placement
New offshore venture's aim is to "build a major new independent drilling contractor"

Cracks found in rudders of Alaska Class tankers
BP's first two Alaska Class tankers taken out of service after divers find cracks in rudders of both vessels

Bollinger promotes St. Germain
named as VP, CFO and Treasurer

Standard & Poors revises UK P&I Club outlook
but affirms insurer's 'A' long-term counterparty credit and insurer financial strength ratings

Cuban yard delivers fast ferry
Damen could use Cuban operation as entry into Caribbean and South American ferry markets

House, Senate panels at odds on DD(X)
HASC takes ax to destroyer program, Senate panel throws money at it

ENSCO sells Venezuela drill barges to Maersk
Sells six Lake Maracaibo drill barges for $59 million cash

ALSTOM power for Fincantieri newbuilds
Electric propulsion systems for Carnival and Costa cruise ships

B+H Ocean raises $60 million in private placement
Plans to make ship acquisitions

House panel votes for two year limit on Navy ship leases
Amendment sponsored by Rep. Jo Ann Davis hailed as "victory for defense shipbuilding."

Cyprus, Malta off Paris MOU Black List
Port state control organization revises "Black-Gray-White" lists

Oil Spill Liability Trust Fund faces depletion
Could there be a return of five cents a barrel tax on petroleum?

AAPA still seeking increased port security grant funding
New $140.8 million program is welcome, however ....

DHS announces $140.8 million port security grant program
Sixty-six port areas identified as eligible to apply

Pentagon releases BRAC closure proposals
New London sub base among closure targets

World Customs Organization develops global security framework
Important part of post 9/11 efforts to strengthen supply chain security

Standard & Poor's takes General Maritime off CreditWatch
Says tanker specialists credit outlook is now stable

House panel adds ships to Navy budget
Adds two DDG's and T-AKE, puts price cap on DD (X)

OMI gets new credit facility
Terms reflect tanker owners increasing financial strength

Maersk to make $2.9 billion offer for P&O Nedlloyd
Proposed takeover will create container shipping giant

IMO's MSC set for mammoth session
Goal based ship construction is high on the agenda--niggling ISPS certification busy-work is hidden lower down

Teekay LNG IPO raises $151.8 million
Units represent 22.3 percent ownership in Teekay's LNG shipping venture

Keppel Singmarine gets orders worth US $48.6 million
Three OSV's--including one for LUKOIL--and two tugboats

Intermarine to add newbuild 8,000 dwt heavy lift ships
To be built by Portuguese shipyard Estaleiros Navais de Viana do Castello

Harvey Gulf International Marine orders 280 ft New Generation OSV
Contract with Eastern Shipbuilding, Panama City, Fla.

Lloyd's Register completes LNG propulsion safety case
Evaluating dual fuel electric propulsion for new generation LNG ships

Rhode Island seeks American master on LNG ship bridges
LNG-certified American master would be required to be present for each trip through state waters and during cargo transfer

Maersk in merger talks with P&O Nedlloyd
Combination would create container shipping giant

Strong first quarter for CP Ships
Income double that of first quarter 2004

Nigel Rich to be CP Ships Chairman
Ray Miles continues as acting CEO

Genco files IPO registration
Another shipping company is on the IPO trail

Gulfmark Offshore reports record quarter
announces purchase agreement for Chinese AHTS newbuild

USCG issues guidance on Marpol Annex VI
U.S.-flag vessels on international voyages must comply with new air pollution requirements even though the U.S. has yet to ratify them

Aker Yards books four PSV order for Siem
Four Vik-Sandvik PS470 Mk II platform supply vessels plus options for two more

Wartsila signs first global customer agreement
Initially covers nine Reederei Blue Star containerships

OSG income soars
$164. 9 million 2005 first quarter net income more than double 2004 figure

HOS to transform molten sulfur carriers into world's largest OSV's
Will carry a minimum 30,000 barrels of liquid mud

Hong Kong shipowner pays $72,150 for garbage bag Australian magistrate imposes hefty fine for marine pollution

Cuba to partner Venezuela in naval repair yard
Facilty in Zulia, Venzuela, will also construct small naval craft

Teekay LNG prices its IPO
Offering of 6,000,000 common units at $22 per unit

Rowan's LeTorneau unit to build jackup for Mexico
Super 116-C class jack-up rig is first order for outside customer since 1994

Senate-House conferees put block on DD(X) rebid
Language in an $82 billion FY 2005 emergency supplemental bill prohibits funds "in this Act and prior Acts" from being used to implement a winner-take-all strategy for the acquisition of DD(X)

Maritrans and Penn Maritime settle lawsuit
Maritrans to get $4 million in case involving double hull conversion patent

Car carrying pays off for Wilh. Wilhelmsen
Best ever first quarter figures

Aker Yards to build AHTS for Olympic Shipping AS
UT 712 L anchor handler to be delivered July 2006

Golden Ocean takes stake in ten Panamax bulkers
Reaches agreement with Louis Dreyfus Grain Division

NCL orders cruise ship at Meyer Werft
Order follows collapse of plan for newbuilding at Aker Yards

Todd Hornbeck elected HOS Chairman
Will continue to serve as President and CEO

U.S. Shipping Partners reports strong first quarter
Jones Act operator reports 141 percent increase in net income

ChevronTexaco orders LNG tanks
Two from Samsung Heavy Industries for $383 million.

Plans for North Adriatic offshore LNG terminal move ahead
Qatar Petroleum, ExxonMobil and Edison announce "major milestone agreements" for the Isola di Porto Levante terminal

New Panama Canal rules on on-deck containers
Inaccurate information could mean charges, delays and sanctions

Tougher maritime terror treaties on the way
IMO Legal Committee makes progress on SUA treaty changes

Diamond Offshore goes to Keppel for two jackups
One rig to be built in Singapore, the other in Texas

Malaysia warns on private ship security escorts
Operators of armed escort vessels could face charges

CBO analyzes impact of Navy shipbuilding plans
Both 260 ship and 325 ship plans mean peaks and valleys in shipbuilding

Otto Candies in SIM vessel joint venture
ExxonMobil-developed Subsea Intervention Vessel will handle tasks faster than MODU

Star Cruises ponders listing for NCL
but no decision yet taken on U.S. IPO

Maritrans reports record revenues
Highest quarterly revenue in company's history