Nautilus Minerals has announced that under the terms of its agreement with the nominee of the Independent State of Papua New Guinea, the sum of US$113 million, which was placed into escrow in May 2014, shall be released to Nautilus on completion of the agreement, which is scheduled to take place on December 11, 2014.
Cable barge AMT Explorer capsized and probably sank in Mediterranean sea some 50 miles southwest of Sardinia island southern tip on July 3, while towed, reportedly, by a tug Red Husky. Barge was en route from Naples cable factory to Bremerhaven, with cable worth euro 28 million, which was to connect wind farms in North Sea offshore.
Subsea 7 has exercised the final extension option on the vessel Skandi Seven, and the vessel is firm from April 2015 until end March 2017.
On 2 July 2013, Norsafe and the Swedish Coastguard (KBV) signed a frame contract concerning the delivery of its next-generation workboats. The total number of boats is undecided, but in October, Norsafe received its seventh boat order for delivery in 2014; a contract to deliver next-generation Magnum 750 rescue boats. KBV is a well-informed customer with enormous experience, and through this collaboration Norsafe has benefited from its extensive knowledge of these boats.
An abandoned Russian ‘ghost ship’ infested with cannibal rats may be drifting towards the west coast of Scotland according to salvage experts.
The cruise liner, Lyubov Orlova, has been drifting across the Atlantic for almost a year after being cut adrift by the Canadian government and now a Belgian salvage company have asked Scots sailors to be on the lookout for the vessel which is worth £600,000 in scrap metal.
A groundswell of momentum is building in the US around the use of LNG as ship fuel as owners, ports and regulators, have realised the benefits of this emerging technology.