ABG Shipyard concludes German contract

September 30, 2007

ABG Shipyard Ltd has informed that the Company concludes the order for construction of 12 Handysize bulk carriers of 35000 DWT.

With this order, Company’s aggregate order book now stands at Rs 7121 Crores. The Company and Vogemann were in negotiations for some time through Ship Broking firm M/s Olivier Felter, Germany. This is one of the largest order bagged by ABC and first of its kind from a German Shipping Company. This order was signed on July 03, 2007 and financial closure got concluded now. M/s H Vogemann, established in Hamburg since 1886 currently controls a modern young drybulk fleet of 6 Capsize, 7 Panamax and 6 Handysize vessels and new building order placed on Namura Shipyard, Japan, GSI in China and now with ABG Shipyard in India.

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G E Shipping to sell its single hull Aframax

September 30, 2007

The Great Eastern Shipping Company Ltd. (G E Shipping) has signed a contract to sell its 1988 built single hull Aframax tanker “Jag Labh”.

This Japanese built ship of 96,551 dwt was acquired in February 2005. The ship is scheduled for delivery to buyers in Q3 FY 2007-08. The decision to sell this ship is in line with the company’s overall strategy of reducing its presence in the non-double hull tanker fleet. The Company’s current fleet of 48 ships, aggregating 3.51 mn dwt has an average age of 11.8 years and comprises of 15 crude tankers, 19 product carriers, 2 LPG carriers and 12 dry bulk carriers.

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Feadship megayacht F-stream design unveiled

September 30, 2007

Feadship unveiled the newest member of the Feadstream family at the Monaco boat show, and received an overwhelmingly positive response.

The all-new concept for the 55-meter F-stream design was also the recipient of some serious enquiries by potential owners, who shared the vision of Studio De Voogt as to the where luxury yachting might be heading. The F-stream synthesizes the very latest developments in hull design, glass construction technology and aesthetics. Its hybrid propulsion package hints at a new age of comfortable power. Two diesel electric cycloidal propulsion-rudder systems offer dynamic positioning, silent cruising and efficient roll damping and – in passive mode – can also serve as rudders. The layout of the F-stream reflects how more and more owners are using yachts in the 21st century.

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Kochi Port City to become World’s new cruise destination

September 30, 2007

India’s first-ever cruise terminal is all set to take shape in Kochi catapulting the Kerala port city on the world’s cruise map.

Kochi port authorities say the project would encourage investment, bring prosperity and strengthen the state’s competitive advantage as a premier tourist destination in a big way. Some 34 cruise liners have called at the port this year and the number of tourists visiting the port, is expected to touch 62,000 by 2010 when the terminal is completed, Cochin Port Trust Deputy Chairman Capt. Subash Kumar said.

The terminal is planned as the world’s most promising, year-round business and leisure destination that offers the perfect blend of luxury and leisure, shopping and culture in a traditionally rich and hospitable environment. The international bidding process for the $90 million project is to begin by January and work will start by mid May.

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Essar Shipping places $210 mn orders for bulk carriers

September 29, 2007

The Russia-owned Essar Shipping & Logistics (ESLL) has placed a mega order for constructing six bulk carriers with ABG Shipyard.

The Mumbai-based shipbuilder will construct six geared Supramax bulk carriers. The contract is valued at $210 million. The vessels with 54,000 dwt will be built at an estimated cost of $35 million each. These ships will be delivered between December 2009 and March 2011, and will be fitted with 36-tonne cranes with the grab. Essar Shipping, a subsidiary of ESLL, already owns and operates 27 ships including very large crude carriers, product tankers and bulk carriers. These vessels will be environment-friendly and comply with the stringent International Maritime Organization regulations.

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Topaz wins US$ 210mln BP contract

September 29, 2007

BUE Caspian, a wholly owned subsidiary of Dubai-based Topaz Energy and Marine Ltd has announced that it has been awarded prestigious contracts for the provision of three offshore support vessels by BP Azerbaijan (AIOC).

The contracts are for firm periods ranging from 3 to 7 years, with extension options for a further three years. The initial investment of over USD 65 million in vessel construction brings to a total ten new build vessels mobilised to Azerbaijan within a five year period. The potential contract value is estimated to be in excess of USD 210 million assuming that all of the contract options are exercised.

Commenting on the contract Roy Donaldson, General Manager, BUE Caspian said the second deal BP Azerbaijan has awarded Alliance demonstrates the firm’s confidence in our capabilities. Under the terms of the agreement BUE Caspian will supply two Norwegian built Ulstein UT755L Platform Supply Vessels and one Fast Crew Boat presently under construction by Damen in Holland. The three new vessels will complement the existing offshore support fleet with supply and services to the newly constructed East Azeri, West Azeri and Deepwater Guneshli installations.

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Crowley contracts for large, fast ATBs

September 29, 2007

Maritime Corporation’s Vessel Management Services subsidiary has signed a contract with VT Halter Marine Inc. and Dakota Creek Shipyards to build three articulated tug-barge (ATB), 330,000-barrel tank vessels, the largest in the company’s history and the fastest in their class.

The new vessels will be delivered in yearly intervals between the second half of 2011 and the first half of 2013. Once received, the three new Jones Act ATBs will be operated in the U.S. coastwise trade by Crowley’s petroleum services segment. These three new vessels will bring Crowley’s total ATB fleet to 17, including four 155,000-barrel and ten 185,000-barrel ATBs. The new ATBs will feature the latest systems technology and double-hull construction for maximum safety and reliability.

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