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CORE INDUSTRIES

Dassault Systemes and IBM Partner With IHI

Ishikawajima-Harima Heavy Industries Co. Ltd (IHI) has signed an agreement with Dassault Systemes and IBM Product Lifecycle Management around 3D PLM (Product Lifecycle Management) for shipbuilding. 3D PLM solutions based on V5 architecture developed by Dassault Systemes and marketed by IBM world wide, are setting future industry standards which help shipbuilding companies reduce the development time as well as further improve their products. As part of the partnership, IBM and Dassault Systemes will integrate their 3D PLM technologies with IHI's specific industry know-how in order to promote the modernization of shipbuilding, one of the core industries in Asia. Services and support will be provided by IBM and IBM's business partners. Dassault Systemes', IBM's and IHI's implementation of the 3D PLM solutions will start in 2002, and the full deployment is expected to be operational in 2004/2005. Now, IHI is using "Ajisai", its own internally developed 3D CAD system, as a product model creation tool from the design to the production stage, and was using CATIA V5 for conceptual ship design. The company highly praised CATIA V5's flexibility and data compatibility and its participation in this project has for perspective data compatibility with this "Ajisai". Dassault Systemes, IBM and IHI will work together to integrate the complete 3D PLM solution set along with IHI's know-how concerning the management of attributes specific to the shipbuilding CAD, which is highly complex


Voith Maintains Status Quo Despite Difficult Environment

Voith Water Tractor: Photo credit Voith

Voith Group reports on financial results at end of fiscal year year 2012 (ending September 30, 2012). Report highlights: •    Third best operational result in company history despite difficult business environment at Voith Paper •    Sales rise by 2 percent to EUR 5.7 billion •    As expected, orders received below record value of the previous year •    Important orders in America


New Vietnam Shipbuilding Group to be Lauched

According to a report from the VietnamNet Bridge, Deputy Prime Minister Nguyen Sinh Hung said a new Vietnam Shipbuilding Industry Group, Vinashin, will be unveiled this month or early November. The new shipbuilding group will focus on its core business, which are shipbuilding and repairing; supporting industries for shipbuilding; and providing training courses in the field. (Source: VietnamNet Bridge)  


Finnish Yards Impact Kvaerner '99 Results

Kvaerner ASA announced a record 1999 pre-tax loss, hit by restructuring costs and weak non-core operations, but forecast an upturn at its core businesses in 2000. London-based Kvaerner recorded a pre-tax loss of $667 million from $205.5 million a year earlier after a sweeping restructuring plan was launched in April, which aimed to sell off non-core activities. "We have all seen that the goal is within sight. It is far away but still in sight," Chief Executive Kjell Almskog said


NSRP Approves $2.5 Million for Cost-Saving Projects

The NSRP logo (Photo: NSRP).

The National Shipbuilding Research Program (NSRP) Executive Control Board selected 17 new research and development projects for award as part of the NSRP’s core mission to reduce the costs associated with Navy shipbuilding and repair. The projects, totaling approximately $2.5 million, will be executed through the 10 NSRP Ship Production Panels, which serve as the program’s primary public forum for industry-wide networking, technology transfer and best-practice sharing.


Panama Canal Authority Awarded For Its Ethical Leadership

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PANAMA CITY, Panama, March 16, 2011 – Recognized internationally for its innovative work and ethical business practices, the Panama Canal Authority (ACP) has been recognized by the Ethisphere Institute as one of the 2011 World’s Most Ethical Companies.  According to the Ethisphere Institute, the ACP secured a spot on the list from a record number of nominations by “going the extra mile and implementing upright business practices and initiatives that are instrumental to


Topaz Reports NMEL Results

2013 revenue up 22% over last year to $376.5 million as a result of the expansion of the core vessel fleet and high vessel utilization Topaz Energy and Marine, an offshore support vessel company, announced the results of its subsidiary Nico Middle East Ltd. (NMEL) for the twelve months ended December 31, 2013. According to Topaz, the period has seen continued strong and profitable growth across the group’s activities with revenues up 22% and EBITDA up 17%


General Dynamics Awarded $208m for 2nd LCS

The U.S. Navy awarded a $208 million contract option to a Bath Iron Works-led team for construction of a second Littoral Combat Ship (LCS) featuring an innovative, high-speed trimaran hull. The 127-meter surface combatant ship, equipped with open architecture-based combat systems and computing environment, is scheduled for delivery to the Navy in July 2009. The original contract was awarded in July 2003. Bath Iron Works is a subsidiary of General Dynamics (NYSE: GD).


Container Shipping May Hoist Financial Distress Signal: New Study

Container terminal: File photo CCL3

Beset by continued sluggish demand, a growing mountain of debt and a radically changing marketplace, listed companies in the global container shipping industry as a whole face a greater risk of financial distress, including possible bankruptcy, than at any time since 2010, and that risk has grown in each of those past three years, finds business advisory firm AlixPartners in a new analysis. Contributing mightily to this situation, according to the study


Ashland Sells Drew Marine

Ashland Inc. (NYSE:ASH) completed the sale of its global marine services business, known for many years as Drew Marine, to J. F. Lehman & Co. for approximately $120m before tax. Ashland will use the net proceeds to reduce debt. With revenues of approximately $140m a year, the Drew Marine business has approximately 325 employees, 28 offices and 98 stocking locations in 47 countries. The business is a recognized global leader in providing technical solutions


New Crewboat Design for Offshore O&G Market

The Tuco designed and built 16m surfer crew boat will be marketed by MarinOIL for offshore crew supply operations.

Upgraded crewboat design employs carbon-reinforced composite materials and is lighter, faster and more fuel-efficient than alternatives. Marine Oil Transportation Consultants Inc (MarinOIL) and Tuco Group of Denmark have concluded a cooperation agreement that will see the marine projects


Wärtsilä to Divest its Shares in Two-stroke JV

Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company established for manufacturing large low-speed marine


GDI Awards N-KOM US$110-M Contracts

GDI N-KOM contract principals: Photo courtesy of N-KOM

Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts worth US110 million to Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard between Nakilat and Singapore’s


Kito Americas Acquires Peerless Industrial

Kito Americas, Inc. announced today that the company has entered into a stock purchase agreement to acquire Peerless Industrial Group from Westview Capital Partners II, L. P. by purchasing all the shares of Peerless Industrial Group, Inc. The share transfer of Peerless shall be executed subject to


Peel Ports Enters 10-year Deal with Volkswagen

Volkswagen Golf SV (Photo courtesy of Volkswagen)

Peel Ports Medway signs 10-year deal with Volkswagen Group UK; new multimillion pound facility will generate 100 new jobs and add more than 50,000 car imports Peel Ports Group said it sees the automotive sector as a major growth opportunity and is working continually to provide vehicle


DNV Petroleum Services Unveils New Name

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DNV Petroleum Services’ (DNVPS) independence from Det Norske Veritas (DNV) less than a year ago led to the creation of Veritas Petroleum Services (VPS), a new entity that continues to retain its global leadership in fuel management services and enduring collaborative partnership with DNV GL


Maritime Legal Firms Announce Merger

Houston- and New Orleans-based law firm Bland & Partners P.L.L.C. announced that Crain Wilson, P.L.L.C.’s Houston office merged with its firm as of July 1, 2014. The merger results in growth for the firm, including the addition of six attorneys and four legal support staff


Alfa Laval’s Paved Way For Environmental Solutions

PureBallast 3.0

Alfa Laval claims a place as one of today’s environmental frontrunners among marine equipment suppliers. The company’s Pure Thinking portfolio comprises not only compliant solutions for the broadest range of environmental legislation


EURONAV Private Offering Raises $125m

EURONAV VLCC Artois (Photo courtesy of EURONAV)

EURONAV announces that it has raised $125 million in total in gross cash proceeds through a private placement of 10,556,808 new shares to institutional investors selected through an accelerated book build offering. Following strong demand, Euronav decided to upsize the initial offering from $100


EURONAV to Buy 4 Japanese-built VLCCs

EURONAV VLCC Olympia (Photo courtesy of EURONAV)

EURONAV has entered into an agreement for the purchase of four modern Japanese built VLCC vessels for an aggregate purchase price of $342 million. The vessels are on average three years old. This acquisition fits into the company’s strategy to further strengthen its position as the leading


Nature Conservation & Economic Activity Co-exist in Antwerp Port

Antwerp Port

  The Antwerp port area is one of the most important habitats for European endangered species. No fewer than 90 protected species of plant and animal live within the port area. Furthermore, a significant proportion of these plants and animals are specific to ports


Sinwa Establishes First Subsidiary in Thailand

Sinwa logo

  Listed on the SGX Mainboard and Asia Pacific’s leading marine, offshore supply and logistics player, Sinwa Limited (“Sinwa” or “the Group”), announced that the Group received confirmation yesterday that its wholly-owned subsidiary, Sinwa Offshore Pte. Ltd


GE Oil & Gas New Facility in Jebel Ali Free Zone

GE Oil & Gas has been a successful growth partner in the Middle East

  GE Oil & Gas today celebrated the ground-breaking of a new facility that will further expand its presence in the UAE in Jebel Ali Free Zone (Jafza). Scheduled to open in 2015, the new facility spreads over an area of 22,700 sqm and can accommodate over 300 employees


China Bankrolls LNG Carrier Newbuildings

LNG carrier: File photo

The Export-Import Bank of China, a wholly state-owned bank has informed official news agency Xinhua that it is to lend US$400-million U.S. dollars to four separate shipowning companies.for building 4 liquified natural gas (LNG) carriers in a Shanghai shipyard.


Maersk, UltraAqua Divest DESMI Stakes

DESMI Ocean Guard OxyClean ballast water treatment system (Photo courtesy of DESMI)

The partners behind DESMI Ocean Guard A/S today announced that A.P. Moller - Maersk A/S and UltraAqua A/S have sold their shares in DESMI Ocean Guard A/S to DESMI A/S. The transaction gives DESMI A/S full ownership of the company, which presently has two Ballast Water Treatment systems in its






 
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