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
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
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
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.
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
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.
The Browse project covers the realization and installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin, 425 kilometers North of Broome, Western Australia. The Browse project will capitalize on Shell's FLNG experience
Global alternative asset manager The Carlyle Group today announced the acquisition of Lauderdale Marine Center (LMC), the nation's largest yacht repair facility in terms of the number of large vessels it can haul and service. Equity for the transaction comes from Carlyle Realty Partners VII
Low material costs and stable demand has driven the price of new container equipment down to record lows where it is forecast to stay, according to the latest edition of the Container Census report published by global shipping consultancy Drewry.
Ardmore Shipping Corporation took delivery of the newbuild product and chemical tanker vessel Ardmore Seafox on June 25, 2015, the company announced today. The 49,999 dwt, Eco-design IMO 3 tanker was built at Korea's SPP Shipbuilding Co., Ltd Sacheon Shipyard and is the second in a series of
Immediately after signing contract with signed with Hyundai Samho Heavy Industries to build five VLCCs, with an option to build additional five VLCCs, the National Shipping Company of Saudi Arabia (Bahri) signed a contract with Hyundai Samho Heavy Industries to build additional five VLCCs
Mitsui tests first commercial model on HFO and methanol MAN Diesel & Turbo licensee Mitsui Engineering & Shipbuilding Co., Ltd. (MES) recently demonstrated the liquid-gas-injection concept in Japan on 17 June, 2015 using the very first ME-LGI engine to ever be commercially produced
The Singapore Shipping Association (SSA) has named Asian shipping veteran Esben Poulsson as its new president, succeeding Evergreen’s Patrick Phoon. “I am honored and humbled to be appointed president of this active and vibrant organization
Wartsila has successfully passed the final step of the Lloyd's Register (LRS) classification society's Type Approval process to obtain an LR Type Approval Certificate for the Wartsila WTT11 tunnel thruster. Having Type Approval means that the thruster will not have to undergo a design
The State University of New York (SUNY) Maritime College has selected Dr. Richard Burke and Dr. Christopher Clott as its inaugural ABS chairs following a comprehensive search that drew an expansive range of applicants, the college announced today.
Seaspan Corporation accepted delivery of a 14,000 TEU containership, the YM Witness. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's fourth 14,000 TEU SAVER design containership and fifth delivery in 2015.
The Australian Government informs it has awarded a $60.6 million in-service support contract for maintenance of the Bay-Class Landing Ship Dock, HMAS Choules, over the next two years. The maintenance contract awarded to Atlantic & Peninsula Australia Pty Ltd (A&P Australia)
Norway's Offshore drilling firm Sevan Marine ASA has appointed law firm Selmer to investigate claims by Brazilian media that a former manager and agent of Sevan Marine are connected to the Brazilian authorities' investigation into corrupt activities involving Petrobras.
Dorian LPG Ltd., a leading owner and operator of modern Very Large Gas Carriers reported today that it took delivery of the ECO VLGC Cobra from Hyundai Samho Heavy Industries. As previously announced, Cobra, Dorian LPG's sixth newbuilding delivery
As of June 26, 2015, Klein Systems Group Ltd. has changed its name to Saab Technologies Ltd. Klein Systems has been a wholly owned subsidiary of Saab AB since 2012. Saab is a $3.5 billion company serving the global market with world-leading products
Even though the struggle for independence from Britain finally resulted in Ireland being declared “a sovereign, independent, democratic state” in 1937 there was little interest being shown in the maritime affairs of the country. This