Singapore's Sembcorp Marine (Sembmarine) scrapped a deal to merge with Keppel Corp's offshore and marine unit and form new company, in favour of directly buying the unit for S$4.50 billion ($3.19 billion), the Temasek-backed oil rig builder said on Thursday. The new structure also lowers the value of Keppel's unit by S$378 million from the S$4.
A nearly century-old vessel used as cement storage at the LaFargeHolcim terminal on the Fox River for the past 25 years is set to be scrapped.On Friday at sunrise, the S.T. Crapo began its journey under tow from the Port of Green Bay to be scrapped at Port Colborne, Ontario, Canada.Built in River Rouge, Mich., the S.T.
Unions at Shell Plc's Prelude floating liquefied natural gas (FLNG) site off Australia have extended industrial action to Sept. 1 over a long-running pay dispute, the company said on Thursday. Shell shut down the 3.6-million-tonne-a-year site in July and told customers it would be unable to supply LNG cargoes for the duration of work stoppages approved by Australia's Fair Work Commission
Asset manager Atlas Corp said on Thursday it received a takeover offer from consortium group Poseidon Acquisition Corp in an all-cash deal for $3.64 billion.Poseidon, which comprises Atlas' board chairman David Sokol, affiliates of Canadian investment company Fairfax Financial Holdings Ltd, the Washington Family, and Japanese shipping company Ocean Network Express Pte Ltd
Shell Plc said on Wednesday liquefied natural gas (LNG) shipments from its Prelude floating facility off northwest Australia would be disrupted for at least two weeks due to work bans by unions fighting for better pay.Loading disruption at the 3.6-million-tonnes-a-year facility adds to tightness in a global LNG market just as Europe scrambles to secure cargoes to make up for lost Russian gas
Eastern Shipbuilding Group, Inc. (ESG) on Friday launched the R.B. Weeks, the second trailing suction hopper dredge the Florida shipbuilder has constructed for Weeks Marine, Inc.The R.B. Weeks is named in honor of Richard B. Weeks, a co-founder of Weeks Marine and married to Magdalen Weeks, the namesake of the sister vessel Magdalen, built by Eastern and delivered in 2017.
Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit, a year after the Temasek-backed firms began deal talks to cope with an industry downturn.The loss-making oil rig builders have been whiplashed by years of oversupply and oil price volatility as well as a drop in new orders.
Shell Plc said on Monday it has resumed shipping liquefied natural gas (LNG) from its Prelude floating LNG facility off northwest Australia after a four-month shutdown due to a major power failure.A cargo completed loading and left the site on Sunday night, a Shell spokesperson said, declining to disclose the destination.
Contracts between China's top state-owned shipbuilding firm and Taiwan's leading shipping company are likely lowering the costs of upgrading China's navy, posing security concerns for the island claimed by Beijing, a U.S. think tank said on Thursday.China State Shipbuilding Corp (CSSC) is a key producer of vessels for China's rapidly expanding People's Liberation Army Navy (PLAN)
Keppel Corp's offshore and marine (O&M) arm and smaller rival Sembcorp Marine are working towards having an agreement over their business unification in place by the end of April, the companies said on Thursday.The companies had first announced plans to combine their loss-making O&M businesses in June last year.
Dredgers are working to free a containership that has been stuck for a week after running aground in the Chesapeake Bay near Baltimore.Port of Baltimore executive director William Doyle said dredging operations to free the Ever Forward kicked off on Sunday after the required permits were issued by state and federal agencies."U.S.
The Ever Forward containership is currently grounded in the Chesapeake Bay near Baltimore, according to the U.S. Coast Guard, nearly a year after another ship run by the same company blocked the Suez Canal for six days.The containership is operated by Evergreen Marine Corp Taiwan Ltd 2603.TW, the same Taiwanese transportation company that operates the Ever Given.