Conrad awarded contracts totaling $36.6m

Conrad Industries, Inc. announced the award of a contract for the construction of a ferry, and the signing of contracts for the construction of sixteen barges and a major ferry repair, with a total value of $36.6 million.

The Texas Department of Transportation awarded Conrad a contract for the construction of a passenger/vehicle ferry scheduled for delivery during 2009 with a contract price of $22.5 million. The ferry will transport up to 70 cars and work the Galveston terminal.

Also, The Puerto Rico and Municipal Islands Maritime Transportation Authority has executed a contract for a dry dock inspection and general repairs to Motor Vessel Culebra II, a 500 passenger vessel. Additionally, Conrad signed contracts with four different customers for the construction of eleven deck barges, two spud barges and two crane barges.

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Tangsteel looks to shipping

Tangsteel Group, the largest steel company in Hebei Province, said it would team up with a top global shipping company to build and operate its own shipping fleet to cut transportation costs.

The steel group initially plans to build two to three ships of about 300,000 tons each to transport the iron ore produced by Brazilian mining companies, which are its major suppliers, said a senior executive at Tangsteel Group, one of the top 10 Chinese steelmakers based in Tangshan of North China's Hebei Province. The group is negotiating with several potential joint venture partners, including some of the largest global shipping companies.

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Odense to build carriers for Carras Hellas Group

Odense Steel Shipyard Ltd. has concluded contracts with Carras Hellas Group, Greece, for a series of newbuilding Capesize bulk carriers.

This new 180,000 dwt design has been developed between Odense and Carras with deliveries beginning in 2009. These orders, which will be built in the largest dock at the shipyard will together with existing orders, fill up the capacity of Odense Steel Shipyard into 2010.

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China oilfield set to buy foreign firm

China Oilfield Services, the drilling and equipment arm of top Chinese offshore oil producer CNOOC group, is in talks to buy a foreign firm this year in an acquisition that would dwarf its purchase of Russia's STU.

Chief executive Yuan Guangyu said that the deal would be much larger than the takeover of STU from Russia's TNK-BP - its first acquisition abroad - which could be worth anywhere from $10 million to $66m, according media reports. China Oilfield now views Russia, the Middle East and the Gulf of Mexico as strategic markets it needs to explore.

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2 sailors missing after ships collide at Haifa port

Two ships, an Israeli merchandise vessel and a Cypriot vessel collided just outside Israel's northern port of Haifa late Thursday, Israeli officials said.


The Israeli ship sank, and 14 of its sailors were rescued, but two were missing. Moshe Weizman, a spokesman for the Haifa coast guard, said searches were in progress. The Israeli ship was cut in two and sank after the Cypriot vessel crashed into it, Israeli media reported. The Israeli military sent helicopters, ships and doctors to help with the search and rescue operation.

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