China’s Cosco Shipping Technology (CS Tech) has teamed up with Japan’s Furuno Electric and Heisei Trading to form a joint venture in the maritime navigation and communications market.The Shanghai based Cosco Shipping Furuno Navigation Technology will provide equipment, systems and related services for domestic and international shipping fleets as well as inland waterways vessels.
Odfjell Drilling announced that Aker BP has today awarded Odfjell Drilling a 2 year firm drilling contract with 1+1 year optional periods. The day rates for the drilling contract will be based on market terms to be determined prior to commencement of drilling operations. In addition to the market linked day rate, a performance bonus as agreed in the alliance agreement with Aker BP
Valmet will upgrade the Damatic XDi automation system to a Valmet DNA system onboard the Mariner of the Seas cruise ship owned by Royal Caribbean International. With this upgrade, the operators of the machinery and air conditioning systems will have a modern and efficient Valmet DNA user interface, including a state-of-the-art history storage and data analyzing and reporting tools.
Oil tanker company's shares down 1.8 pct at $2.15 premarket. Credit Suisse halves PT to $2, says near-term challenges remain. "On the heels of the second-worst year for tankers in 20 years, this seems to be the growing consensus," said Credit Suisse. While strong oil demand should help move market balance, CS says another year of above-average fleet growth