Author: Importer

Samsung Heavy Industries has developed SORAS (Samsung Optimum Routing Assessment System), a system that will give safer routing for ships while also saving fuel. It took 3 years to develop SORAS and…

Harsh environmental conditions make the complex tasks associated with oil recovery and well maintenance from certain oilfields in the North Sea extremely challenging, often resulting in oil recovery rates 20% below what…

With reference to earlier press releases on the issue of Norsk Hydro's reason for cancellation of their Letter of Intent to Farstad Shipping, fuller details have now emerged. According to Norsk Hydro…

The China Shipbuilding Industry Corp. (CSIC), the largest shipbuilding company in China, received more than six million tons of new ship orders in 2004, ranking first in domestic shipbuilding companies. Li Changyin,…

The Brazilian state-controlled oil company, Petroleo Brasileiro (Petrobras), is rumoured to be requesting bids from 12 domestic shipbuilders to build as many as 42 oil tankers at a cost of $1.9 billion.

BAE Systems is reported to have put back moves to make 100 drawing office jobs redundant following discussion between management and the Ministry of Defence about packages of work to absorb some…

Farstad Shipping has decided to cancel the contract between its subsidiary, Farstad Supply, and the Norwegian shipyard Aker Brattvaag. As reported last week, the newbuilding contract was dependent on approval of the…

Since the beginning of this year the price of new ships has jumped raising South Korean shipbuilders' hopes of greater profits in the latter half of the year, industry sources said. The…

Hyundai Heavy Industries in South Korea has signed a contract to build four 10,000TEU container ships for COSCO, China?s shipping company, and are the largest vessels of their type ordered to date.…

Norsk Hydro has cancelled the Letter of Intent with Farstad Shipping since the Norwegian oil and energy company could not guarantee that all bidders had received equal information during the tendering process…