The recently completed sale of Keppel Marine Industries Limited's marine-related businesses to Keppel Hitachi Zosen for about $99.4 million has allowed Keppel to "carry out a reduction of headcount in the three yards that will result in savings of about $2.9 million a year. Following the consolidation of Keppel Shipyard, Hitachi Zosen Singapore and Keppel Singmarine Dockyard, under Keppel Hitachi Zosen, the Keppel Group is rationalizing its operations to remain competitive.
BAE SYSTEMS North America has completed the sale of its Advanced Systems' Gaithersburg operation to Integrated Defense Technologies, Inc. The negotiated $146 million cash sale to Integrated Defense Technologies was originally announced Sept. 13. Closing of the sale today followed completion of regulatory reviews and approvals. At the Gaithersburg, Md. Operation, more than 300 employees design and manufacture high performance radio frequency surveillance equipment used in signals
Quintana Maritime Limited (NASDAQ: QMAR), a leading international provider of dry bulk transportation services, announced its operating and financial results for the three months and nine months ended September 30, 2007. Highlights include: initiated strategic review process to enhance shareholder value; increased net revenues by approximately 156% to $64.0m from $ 25.0m in the third quarter of 2006; increased Adjusted Net Income by approximately 262% to $22.1m from $6
According to a Feb. 2 report from the SuperYachtTimes.com, the sale of the first of these, YN 16551, a 51-metre, full-displacement vessel was completed in December 2010 to create an enviable total of seven vessels sold during that year. The first sale of 2011 – YN 15850, a 50-metre, all-aluminium semi-displacement vessel – was completed in January 2011. The contract has been signed thanks to a fruitful collaboration with Burgess. (Source: SuperYachtTimes.com)
A river and bay push boat built for the U.S. Army Corps of Engineers has been posted for immediate sale. The vessel features include: • Complete rebuild 2006 • Regularly dry-docked and serviced • Good working condition 2009 • 47 ft long x 17 ft wide • Weight: 44 tons • Two 300HP Cummins NT855 Diesel Engines
Sea Containers Ltd. has completed the sale of Newhaven Marina, West Quay and Railway Quay in Newhaven, East Sussex, England to Oakdene Homes PLC for $20.7 million (GBP11.25 million) in cash. Sea Containers will report a profit on the transaction of $10.4 million in the fourth quarter of 2005 and proceeds from the sale will be used to reduce company debt. Sea Containers has now sold almost all of its port property interests in the UK and the sale forms part of Sea Containers' ongoing
Bergen, Norway based Scandinavian Electric Systems(SES) has secured orders worth around NOK 350 million for delivery of complete Diesel-Electric propulsion and Automation systems for two plus option for three Jackup Vessels with Lamprell plc in Dubai. The Shipowner is Seajacks International Ltd.. The contract for the two first vessels of NOK 140 million are fixed and firm with optional contracts for the three next vessels worth approx. NOK 210 million.
Aegean Marine Petroleum Network Inc. (NYSE: ANW) announced that it has entered into an agreement to sell its two 2,400 dwt specialty ro-ro tankers, the Maistros and the Ostria, to an unrelated third party. Upon completing the sale of both vessels, which are not related to Aegean's core business for the physical supply of marine fuel, the company expects to realize a net gain in the second quarter of 2009. The company intends to use the proceeds of the sale to pay down debt.
Dutch shipping group Koninklijke Nedlloyd NV finalized the sale of its heavy transport arm Mammoet Groep to unlisted Dutch sector peer Van Seumeren Holland BV. Italy's Decafin SpA has also handed over its 33 percent stake in Mammoet to Van Seumeren, Nedlloyd said. As announced in May, the deal involves a total sum of $104.5 million, of which Nedlloyd will receive about $80 million euros.
New online service by YachtX.com eliminates brokerage commission & simplifies the sales of pleasure boats YachtX, Inc. launch the boating industry's first online yacht exchange. YachtX.com removes the obstacles that have inhibited owner-managed selling of high value boats and yachts – rendering the expense of commission-based yacht brokerage obsolete. Selling a boat is a specialized process. Until now
A tanker carrying crude oil from Iraqi Kurdistan is just two days away from arriving at a U.S. port, according to ship tracking satellites, despite Washington's long-standing concern over independent oil sales from the autonomous region. The United Kalavrvta tanker
Metal Shark now offers Volvo Penta diesel sterndrives in its 29 Defiant patrol boats for customers requiring optimum performance, durability and maneuverability. The 29 Defiant can now be ordered with twin Volvo Penta D4-225 sterndrives. The first boat has just been placed into service by the
Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company established for manufacturing large low-speed marine
Defence and security company Saab's acquisition of the Swedish shipyard Thyssen Krupp Marine Systems (TKMS, formerly Kockums) has now been completed. The acquisition strengthens Saab's position as a comprehensive supplier of naval military systems.
When Sennebogen LLC opened its new headquarters in Stanley, N.C., in 2009, the facility was equipped with one of America’s premier OEM Training Centers for heavy equipment. Since then, more than 1,000 technicians have attended the hands-on courses in material handler maintenance and
Engines customized for new Dutch search-and-rescue lifeboat vessels keep running after full rotation on axis. In thrashing, unforgiving seas, a capsized rescue vessel used to be a symbol of defeat. To withstand harsh conditions, sea vessels are designed to right themselves when overturned
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture, which will take over Wärtsilä’s 2-stroke engine business. Through the agreement, CSSC will own 70% of the business through its affiliate CSSC Investment
Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 7 percent rise in second-quarter net income on Sunday, matching analysts' forecasts. It earned 6.46 billion riyals ($1
Effective October 1, Mitsubishi Heavy Industries, Ltd. (MHI) will integrate two of its group companies: Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation, which handles majority of domestic sales of air-conditioning and refrigeration (AC&R) products
Cargotec's January-June 2014 interim report show that orders grew but operating profit was burdened by project cost overruns in Kalmar April-June 2014 in brief Orders received increased 19 percent and totalled EUR 993 (833) million. Order book amounted to EUR 2,285 (31 Dec 2013: 1
Trans Marine Propulsion Systems, Inc. (TMPS) announced that Chuck Kissee has joined its leadership team as the Director of Business Development to support Anglo Belgian Corporation (ABC) diesel engine sales. "TMPS is excited to have Chuck leading our expansion in our diesel engine sales
Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2
KVH Industries, Inc., announced today that Chris Holm has joined the company to drive strategic leadership in key human resources initiatives supporting KVH’s growth. He assumes the title of vice president of human resources, a newly created role within the company
The full economic impact of the U.K. marine industry and spend associated with boating participation was estimated to total £6.2 billion in 2012/13, according to a new report released by the British Marine Federation (BMF). Latest industry trends results also announced by the BMF show
Israel's Finance Ministry and Israel Corp have reached a compromise regarding the government's "golden share" in the country's biggest shipping company Zim, paving the way for a $3 billion debt restructuring plan to move ahead. The government last week appealed an Israeli court ruling