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GLOBAL INDUSTRIES LTD

Global Completes Securities Filing

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.


Téllez Elected to Board at Global Industries

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


LNG Ship Sails off Shipyard

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, Baoshan Sign MoU

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


China Tightens Shipbuilders' Credits: Singapore May Benefit

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 to Produce and Sell Kappel Propellers in China

Photo: MAN

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.


Zim to Buy Eight Ships for $1.36B

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


Five Shipping Lines Agree to Form Alliance

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.


YMD of China Completes First Mitsubishi-UE Engine

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.


Singapore's Transport Minister to Speak at LISW 2015

Minister for Transport Mr Lui Tuck Yew Courtesy Singapore Transport Ministry

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


‘Choice Alliance’ Formed to Serve BWT Market

A strategic alliance between Choice Ballast Solutions and Drew Marine has been formed to provide vertically integrated capabilities within the ballast water treatment (BWT) market. The two firms have joined to form “Choice Alliance” which will provide ship owners with -BWT


OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the OTC Distinguished Achievement Awards Luncheon, the conference will recognize Robert (Don) Vardeman of Anadarko Petroleum


Amazon Expands Logistics Reach in China

Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages.   Its plans in China, outlined in filings there, include handling cargo and customs for goods headed to ports in Japan


MTS Assists Damen in Maersk Connector Sea Trials

MTS assisting Maersk Connector

Leading marine service provider, Marine and Towage Services Group Ltd. (MTS) has supported shipbuilder Damen during sea trials of its latest offshore cabling vessel, Maersk Connector. During the two-week testing period, MTS Vigilant, a Damen Shoalbuster


APM Terminals Pipavav Receives Maiden RoRo Vessel

APM Termianl Pipavav (Image: AMP)

APM Terminals Pipavav (Gujarat Pipavav Port Ltd), one of western India’s gateway ports,  announced having hosted the maiden call by leading RORO operator Höegh Autoliners vessel – m.v. HOEGH ANTWERP at Pipavav Port.  


Aqualis Offshore Lands Study Job for LNG Barge

Offshore marine and engineering consultancy Aqualis Offshore, part of Oslo-listed Aqualis ASA, has been contracted by Gas Entec Co. Ltd to provide an engineering study of a new-build LNG barge that will operate offshore the U.S. The contract value is undisclosed.   


Taiwan President Honors Evergreen Founder

Taiwan President Ma Ying-jeou (right) honored Evergreen Group founder Dr. Chang Yung-Fa with a posthumous commendation, accepted by his eldest son Chang Kuo-hua (left). (Photo: Evergreen Line)

Taiwan President Ma Ying-jeou honored Evergreen Group founder Dr. Chang Yung-Fa with a posthumous commendation in recognition of his contributions to international transportation and social welfare during the memorial service today. The company's North America headquarters are in Jersey City, N.J


Dry-Bulk Shipping: Hitting the Bottom

Photo: China COSCO Bulk Shipping (Group) Co

 Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei.   The global commodities bust has rocked the dry-bulk shipping industry


FSL Trust Divests Two Containerships

FSL Trust Management Pte. Ltd., as the trustee-manager of First Ship Lease Trus, announced that the Trust has completed the disposal of Ever Radiant and Ever Respect for a cash consideration of approximately $10,800,000. Ever Radiant and Ever Respect are Japanese-built, 4


Cosco Merger May Change Industry Dynamics

Image: China Shipping group

 The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ.   The merger will free the two Chinese shipping groups from competing


MHI's Entity to Oversee Material Handling Equipment, Engine and Turbocharger Businesses

Organizational Structure Courtesy MHI

Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material handling equipment centered on forklift trucks, engines and turbochargers. The new entity will serve as an independent management body to


Total Signs Deal to Supply LNG to China's ENN

Image: ENN Energy

 Total SA has signed an agreement to supply liquefied natural gas to ENN Energy in China, according to a news release on the French energy company's website.   The deal is for 0.5 million metric tons of LNG per year for a period of 10 years and will be delivered from the company's


Sea Trade’s Problems Multiplying

Image: Clarksons Research

 For good or for bad, shipping market analysts have looked at trade growth ‘multipliers’ for many years, says Clarksons Research.   In 2015 global seaborne trade is estimated to have grown by 2.1%, in a year when the world economy grew by 3.1%


Shipping Industry Clean Up its Act

Photo:  International Chamber of Shipping

 Shipping impacts the world in many positive ways by enabling trade around the world, But despite all the positive impacts, you also have negative impacts, especially environmental impacts, CNBC quoted as Mads Stensen, global sustainability manager at Maersk saying.  


DCNS Deploys 3DEXPERIENCE Solution

Dassault Systèmes and DCNS partner on the 3DEXPERIENCE innovation platform for next generation naval defense solutions   Multi-disciplinary, Collaborative Innovation to Enhance Operational Performance and Competitive Edge on a Global Scale  






 
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