Daewoo Shipbuilding wins record $2.33bn order from Maersk

Daewoo Shipbuilding & Marine Engineering Co., the world's third-largest shipyard, said that it has won an order to build 16 container vessels for US$2.33 billion, the industry's largest order to date.

The deal with A.P. Moeller-Maersk of Denmark, the world's largest boxline, calls on Daewoo Shipbuilding & Marine Engineering to deliver the vessels by December, 2012, and the company said in a statement. The vessels have individual capacities of 7,450 teu and they are equipped with reefer plugs enabling them to carry 1,700 refrigerated containers each. This is the highest number ever carried on a container vessel. The ships are designed to meet the highest demands for safe and economic transportation of goods in the trade to and from the East Coast of South America. In addition, each vessel is equipped with a waste heat recovery system. The system reuses excess heat from the exhaust and thus generates energy for propulsion of the vessel or on-board electricity consumption. The reduction in fuel consumption results in a corresponding reduction of emissions. "We are very excited with this order and the opportunities these vessels will provide our customers in South America. We are confident that the vessels will enable us to continue to offer competitive container shipping based on a modern, economical, and environmentally friendly fleet," says Senior Vice President Michel Deleuran, Head of Network & Product in Maersk Line. Maersk Line expects to deploy the 16 vessels in the trades between the East Coast of South America and Asia and Europe.

Read More

Kazakhstan eyes Oman CPC stake

Kazakhstan is interested in buying Oman's 7% stake in the Caspian Pipeline Consortium should the Middle Eastern state decide to sell out, an influential oil industry group official said.

Shareholders in CPC, the key export route for Kazakh crude, are struggling to come to terms on the pipeline's expansion, with Russia, the key host state, opposing the plan. Industry sources told that this week Oman, frustrated with delays, has decided to quit the project but the country has not officially commented on the matter. "There would certainly be interest (to buy the stake)," Timur Kulibayev, president of oil industry group KazEnergy, told. "The national company (KazMunaiGas) is working on it." Kulibayev, also son-in-law of Kazakh President Nursultan Nazarbayev, said Russia was interested in Oman's stake as well. Russia has a 24% share in CPC and Kazakhstan owns 19%. The rest belongs to private shareholders, Chevron, BP, Shell, ExxonMobil, Lukoil and Rosneft.

Read More

Bourbon sells interest in the Rigdon companies

The sale of Bourbon's interest in the Rigdon companies has been announced as part of the merger proposal between US companies, Ridgon Marine Corporation and Gulfmark Offshore.

As the Rigdon companies had so far been accounted for according to the equity method, the sale will have no impact on revenues, nor on Bourbon's EBITDA. The sale will generate for Bourbon a capital gain on sale of approximately Eur 60 million (US$95.3 million) in the second half.
Read More