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Wilhelmsen Acquires Drew Marine Technical Solutions

Wilhelmsen Acquires Drew Marine Technical Solutions

11 hours ago
The Wilhelmsen group has signed an agreement to acquire the technical solutions business from Drew Marine.   “This acquisition offers a unique opportunity to enhance the scale and geographic reach of our marine products division,” said Wilhelmsen group CEO, Thomas Wilhelmsen.   The acquired business will be brought into Wilhelmsen Ships Service.   As part of the transaction, the business, people and competence in Drew Marine Technical Solutions will be transferred to Wilhelmsen. Approximately 400 Drew Marine employees will join Wilhelmsen Ships Service upon completion of the transaction.
Updated Forecast: Floating Production System Orders

Updated Forecast: Floating Production System Orders

11 hours ago
World Energy Reports has released its midterm five year forecast of production floater orders. The forecast, detailed in the March 2017 WER report, reflects positive and negative developments in underlying business drivers since WER’s five year forecast last October.   Positive developments Likelihood that the November U.S. election results will accelerate U.S. deepwater E&D – the new industry-friendly administration is cutting environmental barriers, opening new areas to E&D and plans tax cuts to encourage domestic energy development Faster pace of rebound in oil company capital spending – ExxonMobil, BP, Hess have increased their capex budget for E&D in 2017
TUMSAT: More than a Rowing School

TUMSAT: More than a Rowing School

11 hours ago
Philippine-born Ananya Surangpimol won a prestigious scholarship to Japan in 1971 and, after a year of intensive Japanese, entered Tokyo University of Fisheries, one of the first Asian women to do so in a former all-male imperial university. There she completed a master’s degree in food science but one of her favorite memories of her attendance at this former naval academy was being required to swim a kilometer in the open sea and row a big 12-oar cutter in her freshman year.   In 2003, Tokyo University of Fisheries merged with the Tokyo University of Mercantile Marine to form the Tokyo University of Marine Science and Technology (TUMSAT)

Russian Intelligence Ship Sinks, All 78 Crew Rescued

16 hours ago
A Russian naval intelligence ship sank off Turkey's Black Sea coast on Thursday after colliding with a vessel carrying livestock and all 78 personnel on board the navy ship were evacuated, Turkish officials said.   The rescued crew members of the Russian ship Liman were in good health after the collision with the Togo-flagged Youzarsif H, Turkey's Transport Minister Ahmed Arslan said.   The incident took place in fog and low visibility 18 miles (29 km) from Kilyos village on the Black Sea coast just north of Istanbul.   Turkish authorities dispatched a tugboat and three fast rescue vessels, the coastal safety authority said.
Frontline Takes Legal Battle over DHT to Marshall Islands

Frontline Takes Legal Battle over DHT to Marshall Islands

17 hours ago
John Fredriksen's Frontline is switching its legal battle for control of tanker operator DHT Holdings from New York to the tiny Marshall Islands after making a fifth offer for the company this week.   Frontline, controlled by Norwegian billionaire Fredriksen and owner of a 14.5 percent stake in DHT, has over the past year tried to acquire all of DHT's shares to forge the world's largest shipping tanker company.   On Tuesday it made another all-share offer -- 0.8 of a Frontline share for each DHT share -- and set a 24-hour deadline for DHT to respond to the $500 million offer.