Oil falls to near $99 in Asia after report shows US crude supplies jumped more than expected
Oil prices fell to near $99 a barrel Wednesday in Asia after a report showed U.S. crude inventories rose more than expected, suggesting demand is tepid. Benchmark crude for January delivery was down 65 cents to $99.14 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.58 to settle at $99.79 on Tuesday.
Shipbuilders to ride wave
Pressed by the difficult market conditions, China plans to enhance the competitiveness of its shipbuilding industry by developing a handful of major players, said Guo Yanyan, a senior official at the Ministry of Industry and Information Technology (MIIT).
First WindFloat Successfully Deployed Offshore
Energias de Portugal (EDP) and Principle Power, Inc. (Principle Power) are pleased to announce the successful offshore deployment of a full-scale 2-megawatt (MW) WindFloat off the coast of Agucadoura, Portugal. This installation represents the beginning of a new sector in the offshore wind industry and is the result of continued hard work by all WindPlus JV partners including: EDP, Principle Power, A. Silva Matos (ASM), Vestas Wind Systems A/S, InovCapital, and Fundo de Apoio a Inovacao (FAI). In addition over 60 other European vendors participated.
http://imc.to/u5QZOR
SA firm's tender frozen in Namibia
The Windhoek High Court in Namibia has granted a local company an interdict preventing a South African company from working on a multimillion-rand contract. The N$50-million (R50-million) contract was awarded to Cape Town-based Damen Shipyards by the Namibian Port Authority (Namport) in September.
http://imc.to/v4fpsv