THE BIG FOUR
Germany's largest bank, Deutsche Bank AG, has declared it will not finance a controversial coal port expansion in Australia near the Great Barrier Reef, responding to calls from environmental groups and tourism operators. HSBC, Europe's biggest bank, also signalled on Friday it would be unlikely to finance the project. Deutsche Bank's stand marks a win for those opposed to $26 billion worth of coal projects that plan to use the Abbot Point port, already facing delays due to weak coal prices. But one company involved said the bank's position made no difference. "This doesn't impact our proposed projects in any way," Indian firm GVK Hancock spokesman Josh Euler said. Green groups and marine operators fighting to protect the World Heritage-listed reef took their campaign to Europe this week, urging Deutsche Bank, Societe Generale and HSBC not to back the Queensland coal projects. They want to stop a government-approved expansion of Abbot Point that would involve dumping 3 million cubic metres of dredged soil about 25 kilometres (15 miles) from the Great Barrier Reef, an issue that is also of concern for UNESCO's World Heritage committee. Campaigners against the Abbot Point expansion failed to win support from Societe Generale on Tuesday, according to their web site, but were successful at Deutsche Bank's annual meeting on Thursday. (http://www.marketforces.org.au/europecoalfinance)
The Lloyd’s Register Foundation today launched its Foresight review of big data and announced a conditional grant offer of £10 million to support research by the Alan Turing Institute on engineering applications of big data. The Foundation’s Foresight review of big data: towards data-centric engineering, looks forward at how developments in the area of big data might impact the safety and performance of the engineering assets and infrastructure on which modern
The first phase of the Jiangnan Changxing Shipbuilding Base has been finished and is already in operation on Changxing Island, Shanghai. Built by the China State Shipbuilding Corporation (CSSC), it has three production lines and four boatyards capable of holding 300,000-ton ships. Almost unparalleled in the world, it is the biggest shipbuilding project ever to be undertaken in China. Shanghai has the potential to be the world's largest shipbuilding base.
Since 1960, J. Ray McDermott's Middle Eastern facility has fabricated and installed over 630 structures, 330,693ST of steel, and has installed over 2,610 miles of pipeline throughout the Arabian Gulf, Egypt, India, the Caspian, Africa and the North Sea. Recently they have upgraded one of the assets that make these remarkable numbers possible. The firm’s Derrick Lay Barge-27, owned by Hydro Marine Services but operated by McDermott, now has an impressive set of specifications
During November MacGREGOR won offshore equipment orders with a total value of over $73.5 million (50 million euros); the equipment will be delivered during 2009-2010 Offshore equipment orders recently signed by MacGREGOR’s Offshore division include the single biggest order in the history of the newly acquired Norwegian company Hydramarine AS. This is for two Hydramarine active heave compensated (AHC) cranes for an offshore vessel being delivered in 2010 to a Norwegian shipowner
Len Jones was born in 1911, the coronation year of King George V and the year the Titanic was launched at Harland & Woolf in Belfast. During his lifetime there have been four British monarchs, 19 Prime Ministers, two World Wars and the break up of the British Empire. Women have won the vote, man has landed on the Moon and the world has seen the invention of television, computers, the internet, mobile phones and SatNavs.
Brazil's state oil giant Petrobras said on Thursday that it had made four "important" new oil finds that should boost its oil reserves by about 1.4 percent. Petrobras said the discoveries in Brazil's northeast region would eventually increase reserves by more than 130 million barrels, or 1.4 percent. Brazil's current reserves are 9.278 billion barrels. The finds were made in four mature fields where production was thought to be declining.
Cargill has announced a change in shipping strategy, following the sale of its last four remaining Panamax bulk-carriers, and from here on will charter in ships for all its cargo requirements. "The widespread trend towards consolidation and size within the ship owning segment implies one either gets bigger or scales back," said Vice President of Cargill International Tom Intrator in a statement. "And in our case we have chosen the latter."
Larsen and Toubro Ltd (L&T) has won a contract valued at about $240m to build four specialized ships for Dutch company RollDock BV. Indian companies are currently building about 245 ships worth more than Rs20,000 crore. Of this, about 70% are for overseas clients, who are placing orders at Indian yards as shipbuilding facilities in maritime strongholds such as , and are fully booked till 2011. Each ship will cost about $60m to build
For the second time in a week, global marine terminal operator DP World welcomed and simultaneously handled two mega container vessels at its flagship Jebel Ali Port, reinforcing its relentless efforts and capability to continuously meet customers’ demands. The ships, MSC Beatrice and MSC Lauren, sailed in within 10 hours of each other, barely a week after the MSC Daniella and the MSC Bettina. All the four vessels are owned by Geneva-based Mediterranean Shipping Company (MSC) and
Olaf Wiertz, Sales Director at Schmiedag GmbH (SDG) and Wildauer Schmiedewerke GmbH & Co. KG (WSW) said: “We are more than just a supplier to our customers – we are their partner. Our engagement and our qualification in the developments of customer oriented solutions serve
Austal USA combined two classes to graduate a total of 48 members of Austal’s cutting-edge four-year apprenticeship program yesterday at a formal ceremony held at the Arthur R. Outlaw Mobile Convention Center. The graduates received their certificates of completion and designation as
This week, VIKING Life-Saving Equipment took a step towards gaining approval for the VIKING LifeCraft, its alternative life-saving appliance (LSA) for passenger ships. The concept was presented to the International Maritime Organization’s Sub-Committee on Ships Systems and
Oil imports from Iran at 220,000 bpd in year to March 31. U.S. pressured India not to raise annual Iran oil imports. India halted oil imports from Iran for the first time in at least a decade in March as New Delhi responded to U.S. pressure to keep its shipments from Tehran within sanction
Singapore Defense Minister Ng Eng Hen said that his country wants India to play a bigger role in the South China Sea, according to a report in the Bloomberg. This statement comes in a time when China generating plenty of anxiety from the other nations in the neighborhood as it isn't
Cocoa exports from Cameroon's main port have slowed sharply because the outlet is clogged by a buildup of imported goods bound for Central African Republic that have not been sent due to political unrest, officials said. The port is the main gateway for goods into and out of the oil, cocoa
Automated welding equipment helps aluminum boat designer and builder navigate to increased productivity; advanced machines speed the fabrication process while maintaining high weld quality at MetalCraft Marine The fast-paced marine industry faces constant demands for efficiency and
Towns on France's North Atlantic coast braced for their first giant tide of the millennium on Saturday as the full moon and this week's solar eclipse combined to create an ocean surge not seen since 1997. At the picturesque Mont Saint Michel island where some of the biggest tides in the
Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, is closing its crude oil trading division following a round of job cuts announced last week, four market sources said on Monday. The Calgary-based company, which was acquired by state-controlled CNOOC in 2013 for $15
Shipping losses continued their long-term downward trend with 75 reported worldwide in 2014, making it the safest year in shipping for 10 years, according to Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015
From the four-story office tower, housing 100 technical engineers and administration staff, to the 65,000-square-meter yard with extensive fabrication and machine shops and a huge dry dock, the Xin Yue Feng Shipyard has been building every more sophisticated vessels
Container ship safety is under the spotlight with ever-increasing ship sizes, as evidenced by the January 2015 inauguration of the world’s largest container ship, the MSC Oscar (19,224 teu). The length of four football pitches, it can carry 19,000 containers
Kenya is ready to begin work on the first three berths at a long-delayed port on its northern coast, next to the historic trading town of Lamu, President Uhuru Kenyatta said in his annual State of the Nation address on Thursday. The Lamu Port-South Sudan-Ethiopia Transport (LAPSSET) project
As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion that would allow it to handle the world's biggest ships. Workers are now installing giant
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 5.5 percent to $586 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.