GLOBAL INDUSTRIES LTD
Global Industries Ltd. filed to sell from time to time up to $500 million in debt securities, common and preferred stock, depositary shares and warrants. Net proceeds will be used for general corporate purposes, which may include debt repayment, capital expenditures, future acquisitions and additions to working capital, the company, based in Lafayette, La., said in a shelf registration filing with the Securities and Exchange Commission.
Luis Téllez has been elected to the Global Industries, Ltd. Board of Directors of the Company effective March 31, 2003. Téllez is Executive Vice-President and Chief Executive Officer of DESC, S.A. de C.V., a diversified industrial conglomerate and one of Mexico’s largest corporations. Prior to his association with DESC, Téllez served as Mexico’s Secretary of Energy from 1997 until 2000. He served as Chief of Staff to President Ernesto Zedillo from 1994 to 1997
According to Xinhua, China's first liquefied natural gas(LNG) ship sailed off shipyard Wednesday in Shanghai, marking China's shipbuilding industry stepping into a new era. Sources from the China State Shipbuilding Corp (CSSC) said the LNG ship was built by CSSC's Shanghai subsidiary, the Hudong-Zhonghua shipbuilding (Group) Co Ltd, which fills a blank in China's shipbuilding history. The LNG ship is regarded a high-tech product with high-added value in the shipbuilding industry
Hyundai Heavy Industries Co., Ltd. disclosed that it had signed a Memorandum of Understanding with Baoshan Iron & Steel Co., Ltd. to import wide and heavy plates for shipbuilding. Hyundai Heavy Industries plans to import 180,000 tons of steel plates from Baosteel yearly. Both declined to disclose the price of the deal to keep trade secret. Hyundai Heavy Industries said that the price was lower than that offered by Japanese steelmarkers and a South Korean report said that South Korea would
Singapore's Keppel Corp Ltd and Sembcorp Marine Ltd, the world's top offshore rig-makers, stand to be among the winners through Beijing's moves to tighten credit amid a downturn at China's shipyards, reports Reuters. The two companies have been under mounting pressure from Chinese yards offering generous payment terms, price discounts and help with financing, but that may be changing after Beijing pledged to cut credit to industries plagued with overcapacity
Dalian propeller deal coincides with order involving the world’s largest car carriers On August 30, 2013 MAN Diesel & Turbo signed an agreement regarding the production of its Kappel propeller portfolio with Dalian Marine Propeller Co., Ltd (DMMP) – part of the China Shipbuilding Industry Corporation (CSIC) Group – at its facility in Frederikshavn, Denmark. The deal allows DMMP to produce and sell MAN Alpha Kappel design propellers in China.
Israel Corp. subsidiary Zim Integrated Shipping Services Ltd. said it had placed an order to purchase eight mega container ships from the South Korea’s shipyard Samsung Heavy Industries Co. Ltd. The deal, valued at $1.37b, ($170m each) comes six weeks after Zim Integrated Shipping Services Ltd. announced its plan to upgrade its container vessels fleet. The company had ordered eight TEU 12,600 mega containership for delivery by July 2012
Through its U.S. General Agent, Solar International Shipping, Yang Ming Line announced that five major Asian steamship lines have agreed to form one of the largest cooperative international sea container transport efforts among steamship lines. The new alliance for a cooperative worldwide network will consist of: COSCO Container Lines Ltd., Kawasaki Kisen Kaisha, Ltd. (K-Line), Yang Ming Marine Transport, Hanjin Shipping Co., Ltd., and Senator Lines GmbH.
Yichang Marine Diesel Engine Co., Ltd. (YMD), a group company of China Shipbuilding Industry Corporation (CSIC), has completed production of its first Mitsubishi-UE low-speed marine diesel engine under a technology licensing arrangement with Mitsubishi Heavy Industries, Ltd. (MHI). YMD, located in Yichang, Hubei Province, is expected to complete three more Mitsubishi-UE engines within this year, with plans calling for progressive expansion of engine production going forward.
London International Shipping Week 2015 (LISW) is delighted to announce that Mr Lui Tuck Yew, Singapore’s Minister for Transport, has confirmed that he will speak at the official LISW Conference on 10th September 2015 at the Grosvenor House Hotel on London’s Park Lane. Mr Lui Tuck Yew will speak in the session on: “National, Supranational and Global Governance – The role of governments in a global maritime industry: Should governments lend their support
Mitsubishi Heavy Industries, Ltd. ("MHI") and the Suhail Bahwan Group ("SBG") have invested in Altaeros Energies, a Massachusetts-based technology company, to support the design and production of its Buoyant Airborne Turbine ("BAT") renewable energy and
Singapore’s ASL Marine Holdings Ltd said that its wholly-owned subsidiary, ASL Shipyard Pte Ltd has clinched shipbuilding contracts worth approximately SGD140m ($100m) for the construction of a series of tugs and barges.
ASL Shipyard Pte Ltd. a wholly-owned subsidiary of ASL Marine Holdings Ltd., has secured new shipbuilding contracts worth approximately S$140 million for the construction of a series of tugs and barges, the company’s board of directors announced Thursday.
Thordon Bearings Inc. of Canada announced that CY Engineering Co. Ltd. will take over as the new authorized distributor for the People’s Republic of China, including Macau and Hong Kong, effective August 28, 2015. With this agreement, CY Engineering becomes Thordon’s stocking
The global economic recovery was slower than expected and the overcapacity problem in the shipping industry remained serious, in the first half of 2015, says COSCO International Holdings. This drove stable business volume to the Company’s business segments which serve
Dorian LPG Ltd. a leading owner and operator of modern Very Large Gas Carriers ("VLGCs"), reported today that it took delivery of the ECO VLGC Constitution from Hyundai Samho Heavy Industries. Constitution, Dorian LPG's eighth newbuilding delivery
Rising global container port demand and ever larger vessels are driving terminal operators to make significant investments in additional capacity, according to the Global Container Terminal Operators Annual Report 2015 published by global shipping consultancy Drewry.
Interschalt maritime systems AG, a provider of maritime software and services for navigation and communication equipment (NavCom), as well as the manufacturer of the Voyage Data Recorder (VDR 4G[e] and S-VDR), has expanded its Asian service network by designating Seven Seas Electronic Co
The International Bunker Industry Association (IBIA) will be holding a forum entitled: ‘Bunkering with new fuels – Building on strong foundations’ as part of London International Shipping Week, on Wednesday 9 September.
Commodity trader Trafigura said its logistics and warehouse unit Impala Terminals has scrapped plans for a metals warehousing joint venture in China and will also exit its refined base metals business. Trafigura had announced a joint venture last October with Citics Global Trade
The Liberian Registry has been named as a finalist for the 2015 Ship Efficiency Awards. The Liberian Registry was selected as one of five finalists for the Initiative of the Year award. The nomination is in respect of Liberia’s Global Eco-Upgrade Financing Program
Hindustan Shipyard Ltd., the largest shipbuilding enterprise under Indian Ministry of Defence, and world’s premier shipbuilder Hyundai Heavy Industries (HHI) are likely to undertake joint construction of self-propelled fleet support ships (FSS) for the Indian Navy
There has been a great deal of merger activity in the shipping industry over the past few years, especially amongst owners, but, Anglo-Eastern Group and Univan Group have reached an agreement, with the culmination of the largest ever merger of independent
As Goltens celebrates 75 years serving the maritime industry, Roy Strand discusses the iconic company’s historic market strengths and its big push into the Ballast Water Treatment sector. Your company is celebrating its 75th anniversary this year
VIKING Life-Saving Equipment A/S has acquired a part of Australia-based Wiltrading Pty Ltd.’s maritime safety equipment activities effective 1 September. The move strengthens VIKING’s offering in Australasia, adding 4 locations to the company’s global network of