Qatar Navigation (Milaha) Q.S.C. has announced its financial results for the three months ended March 31, 2015, in which it reported operating revenues of QR 786 million vs. QR 699 million for the same period in 2014, an increase of 12% quarter over quarter. Operating profit of QR 279 million vs. QR 273 million for the same period in 2014, an increase of 2% quarter over quarter, net profit of QR 365 million vs. QR 349 million for the same period in 2014, an increase of 4% quarter over quarter, and earnings per share of QR 3.21 vs. QR 3.08 for the same period in 2014. Strong year on year growth in the core businesses more than offset a decline in the returns from Milaha’s investment portfolio. Each of Milaha’s core segments – Maritime & Logistics, Gas & Petrochem and Offshore – improved their combined bottom line by 71% relative to Q1 2014. Continued strong growth in trade volumes, driven by the ramp up in project activity in Qatar, resulted in a 25% increase in revenue and 175% increase in net profit for Milaha Maritime & Logistics, with a positive impact on Port Services and Container Shipping units in particular. Milaha Gas & Petrochem’s revenue grew by 39% and its net profit by 45%, on the back of stronger performance in its fully owned and operated product tanker and gas carriers, as well as higher VLGC rates relative to Q1 2014
Canyon Offshore has successfully rescued a diver trapped in a manned submersible in 1800 ft. of water in the Gulf of Mexico. The submersible was attempting to perform intervention tasks on a client’s subsea well when the tool seized at the work site. The M/V Merlin, outfitted with a TRITON XL work class ROV, immediately deployed to the site to assist with the recovery. The ROV dove to 1800 ft., releasing the tool and the submersible approximately five minutes after reaching the immobilized
Type 23 frigate HMS Portland has been handed back to the Fleet following a nine-month upkeep period completed by Fleet Support Limited (FSL) in Portsmouth. The Devonport-based ship then sailed from Portsmouth on the same day to start a programme of crew training in the South West in preparation for deployment in early summer. FSL has carried out an extensive enhancement and maintenance package on the 1999-built ship that has kept some 150 personnel busy.
The MS EUROPA, a 5-star-plus luxury cruise liner of Hapag Lloyd Kreuzfahrten GmbH arrived in the morning of 31 August 2004 at dock 10 of Blohm + Voss Repair GmbH. After its stay at the shipyard, the MS EUROPA will be setting off restyled for a 19-day. The cruise will start from Hamburg to Norway, Iceland, Greenland and on to Montreal.
Norwegian offshore vessels operator Siem Offshore Inc said that its 51%-owned subsidiary Siem Meling Offshore DA has agreed to acquire a platform supply vessel construction contract for NOK315m. The Vik-Sandvik VS 485 type vessel will be built at the Eidesvik shipyard in Norway, and is scheduled for delivery in the first quarter of 2009. Siem Offshore is headquartered in Kristiansand in Norway.
Aker Yards has confirmed an optional agreement with Siem Offshore Inc for the building of two Platform Supply Vessels. The value of the contract is approximately NOK 275 million. Delivery is scheduled for second quarter 2007 from Aker Yards, Aukra. The vessels are of Vik Sandvik design, VS 470 Mk II. The vessels will be equipped with dynamic positioning, special product tanks, azimuth thrusters and accommodation for 34 persons.
The security of shipping channels has become an important concern in view of the growing threat to international shipping. This development is met by the International Conference “Maritime Security & Defence” (MS&D) held in Hamburg for the first time during the SMM 2008, shipbuilding, machinery & marine technology international trade fair hamburg, at the Hamburg Fair site on 24 and 25 September 2008. There are close links between the subject matter of the MS&D and the international
At its annual general meeting in in May, Jeanne M. Grasso was elected President of the Women’s International Shipping and Trading Association (WISTA) . As President of WISTA USA, Ms. Grasso will serve as a member of the six-person elected board, which includes: Vice President Linda Turnbow (Ocean Shipholdings, Inc.); Treasurer Kathleen Haines (formerly of OMI Corporation); Membership Secretary Parker Harrison (American Steamship Owners Mutual Protection and Indemnity Association, Inc
Sharon R. Duggan has been appointed to the board of Marine Atlantic Inc. by the Minister of Transport, Infrastructure and Communities. Marine Atlantic Inc. is a federal Crown corporation that reports to Parliament through the Minister of Transport, Infrastructure and Communities. The corporation provides a constitutionally mandated passenger and commercial marine transportation service between the Island of Newfoundland and the Province of Nova Scotia
Winning Brands Corporation announces that Holland America Line is expanding the use of the Winning Brands' Solvent Free Solutions Team to replace conventional Dry Cleaning systems on two more ships, the ms Volendam and ms Zaandam. The earlier conversion of Holland America Line's flagship ms Rotterdam and four of its other ships to a new garment cleaning technology by the same team entirely eliminated the use of toxic Dry Cleaning solvents
The importance of investment in the Shetland fishing industry has been highlighted today by Lerwick Port Authority Chief Executive, Sandra Laurenson. The industry – white fish, pelagic, shellfish and aquaculture – is the biggest single contributor to the islands' economy
The German Defense Minister Ursula von der Leyen is visiting India lobbying for the purchase of German Stealth Submarines and European military hardware, say local media. Sources said that Ursula talked of Eurofighter and [HDW] submarines in her discussions with Indian Defence
Mercury Marine has entered an agreement with Metal Shark Aluminum Boats to power 16 U.S. Coast Guard (USCG) boats with Mercury diesel engines. “Mercury Marine’s 2.0 diesel engines are ideal for smaller vessels such as the Coast Guard Cutter Boat ATON Medium
SITC International signed a strategic cooperation agreement with Qingdao Port International Co., Ltd. in Qingdao yesterday in order to further strengthen the strategic cooperation in the port and logistics market. Mr. Zheng Minghui, Chairman of Qingdao Port Group, Mr
Damen Shiprepair & Conversion has won the contract for the life-prolonging maintenance and refit project of the Royal Netherlands Navy torpedo ship Zr Ms Mercuur. The ship, originally built at Damen Schelde Naval Shipbuilding in 1987, will be refit to make her suitable for a range of new
According to The China People's Daily, Indonesia has just sank a large Chinese vessel and 40 other foreign ships caught fishing in The South China Sea. The Jakarta Post cited Maritime Affairs and Fisheries Minister Susi Pudjiastuti as saying that the Gui Xei Yu 12661
After almost nine months of construction has MS "Helgoland" the new LNG (Liquefied Natural Gas) ship of Cassen Eils from Cuxhaven, left the building dock of the Fassmer-Werft shipyard. Helgoland will be the first German flagged marine vessel to operate on LNG as its
Norwegian company Siem Offshore has sold the platform supply vessel (PSV) “Siem Sasha”. It has delayed delivery of four of the nine platform support vessel (PSV) newbuildings it has under construction in Poland.
The Norwegian shipping company Nor Lines has started a direct weekly RoRo connection between German Port of Cuxhaven and Norway. The first departure of the liquefied natural gas (LNG)-powered 5,000 dwt short sea cargo vessel MS Kvitbjørn was on May 7
There have been reports that members of the crew of the cargo ship Maersk Tigris that had been detained by Iranian authorities, have been released Wednesday. The statement was made by the Iranian Foreign Ministry’s Spokeswoman Marzieh Afkham, as quoted by AFP information agency
About 60 guests aboard Holland America cruise ship Maasdam reported to the infirmary with the virus about one week into the cruise. The passengers on the MS Maasdam began experiencing gastrointestinal illness while on a 14-day sailing
WISTA India proved that they are committed to enhancing skiil of all women in the Maritime Industry . On 17th April they organised a workshop on "Manage your customers" at India's premier Business school SP Jain Institute of Management and Research.
Aker Solutions announced their Financial Results for the first quarter of the current calendar year. Financial Highlights * Sales NOK 8.5 billion in 1Q 2015 vs NOK 7.5 billion in 1Q 2014 * Earnings before interest, taxes, depreciation and amortization (EBITDA) NOK 591 million vs
A three-day Stakeholders Forum will be held April 27-29 to review draft guidelines for the establishment of a Somalia Maritime Administration, coordinated and funded by the International Maritime organization (IMO), is being hosted by the Kenya Maritime Authority at the Sarova Whitesands Beach
Eastern Shipbuilding Group, Inc. delivered the M/V Bill Seymour (Hull 190), the 60th 90’ Inland Towboat to Florida Marine Transporters, Inc. of Mandeville, La., continuing its ongoing newbuild program. It was in early January 2015, when Florida Marine Transporters, Inc