A joint venture (JV) of Penta Ocean Construction, Hyundai Engineering and Construction and Boskalis International has secured a contract worth S$1.46bn ($1.1bn) from the Maritime and Port Authority of Singapore (MPA) for the development of Tuas Terminal Phase II project.
The scope of the contract includes reclamation of 387ha of land, which will be enclosed by 9.1km of caisson walls.
The capacity of the port will be increased by 21 million twenty-foot equivalent units (TEUs) upon completion of the Tuas Terminal Phase II by 2027.
The first phase of the multi-stage project is expected to be completed in 2020.
Hurtigruten, a cruise operator based in Norway, has signed a letter of intent with Rolls-Royce for a major engine upgrade programme.
Rolls-Royce will replace the diesel engines of Hurtigruten’s six ships with liquefied natural gas (LNG) engines. The contract includes the installation of a hybrid battery system.
Under the upgrade programme, each ship will be installed with two Bergen B36:45L&PG gas engines.
Rolls-Royce will provide its single integrated drive switchboard system designated as SAVe Cube system.
The contract also includes an option to increase the order by six more engines.
Star Bulk Carriers, through its non-recourse fully owned subsidiary, intends to buy 16 vessels from entities affiliated with Augustea Atlantica SpA and York Capital Management.
The deal will be an all-share transaction, including the issuance of 10.5 million common shares to the vessel sellers.
The deal includes two Mini Capesize, one Ultramax, eight Post Panamax / Kamsarmax, and five Newcastlemaxes Capesize vessels.
Augustea Atlantica will supervise the technical management activities of the acquired vessels, while commercial operations following the delivery will be handled by Star Bulk.
Orient Overseas Container Line (OOCL) and Microsoft Research Asia (MSRA) intend to carry out artificial intelligence (AI) research to enhance efficiencies and shipping network operations.
The organisations will conduct machine learning and training sessions at Hong Kong Science Park to more than 200 AI developers, as part of the 18-month partnership.