Kursiu Linija sold a further 20-percent share of its equity to Icelandic transport company Eimskip. The move gives Kursiu Linija additional financial power and paves the way for expansion plans. Following the increase in Eimskip’s stake, Kursiu Linija will be run by a four-man board consisting of Bragi Thor Marinosson, Bjorn Einarsson, Stefan August Magnusson and Kursiu Linija founder and former managing director Arijus Ramonas. Ramonas has been elected chairman of the board, and the board has appointed Thorkell Palsson as managing director.
Costa Cruises, Italian tourism group and European cruise company, and Fincantieri celebrated the technical launch of the Costa Deliziosa at the Marghera yards: the first time the ship touched the sea flooding the dry-dock where she is under construction. The Costa Deliziosa, the 15th ship of Costa’s fleet with a total tonnage of 92,700 and a capacity of 2,828 passengers, is scheduled to be delivered at the end of January 2010, after completing the interior fitting out operations
Aluminum Chambered Boats (ACB) signed a Letter of Intent (LOI) with Jansen Inc. to have a new manufacturing facility built in Ferndale, Wash. Jansen Inc. will provide ACB with a turn-key 190,000 sq ft manufacturing facility plus a separate 10,000 sq ft. general office building on the I-5 Industrial Center property in Ferndale. The new facility will allow ACB to increase their annual production capacity to 400 boats to meet the current and future demands of their growing recreational, commercial
Dolphin Offshore Enterprises (India) Ltd., an offshore construction and ship repair company for the oil and gas industry, has lined up investments worth Rs 1,000 crore over the next 5-6 years, a senior company official said. Dolphin has already invested $35m in the initial expansion plans like acquiring ships. Offshore construction being its main focus, Dolphin is looking at moving up the value chain with bigger contracts and would invest Rs 200 crore for expansion in this field.
The Griffin Global Group Ltd., with the goal of increasing product portfolio, announced the expansion of its corporate business with the appointment of John Prentice as director of Corporate Services. Griffin’s Corporate department will be targeting the offshore and shipping sectors, but do have expansion plans further down the line. Prentice started in the travel business with Air New Zealand. He then came to the United Kingdom and spent 10 years with British Airways
In a sure sign that the shipbuilding boom continues, Daewoo Shipbuilding & Marine Engineering Co. announced that it has raised its yearly new order target to $17B, after surpassing its previous projection of $11B with orders for 13 new containerships from European owners. The containership order – worth almost $1.8B – sent the shipbuilder’s take this year to $11B and 84 vessels and offshore projects. The rise in the yearly projection from $11 to $17B is a nearly 55% increase compared to last
Citing, among other factors, a lackluster market for cruise shares on the U.S. stock exchange, P&O said it and Festival Cruises decided not to pursue the merger of their cruises businesses due to the continuing low valuations of cruise companies in the United States. The groups announced in May a deal to combine businesses as part of Peninsular and Oriental Steam Navigation cruises division in a deal worth up to $600 million.
Hyundai Engineering & Construction Co., fell the most in almost five months in Seoul on concern Korea Development Bank may delay selling its stock in the company, holding up expansion plans, according to Bloomberg.com. Hyundai Engineering declined 7.5 percent to close at 89,500 in Seoul. Daewoo Shipbuilding & Engineering Co., also part-owned by state-owned Korea Development Bank, fell 5.2 percent to 44,550 won, the biggest drop in more than a month.
EON AG, Germany’s largest utility, expects to cut costs for building offshore wind farms about 40 percent by 2015, as it embarks on a $9 billion renewable energy expansion plan. “Renewables are a mainstay of our corporate strategy, and wind power in particular is one of our growth businesses,” said Chief Executive Officer Johannes Teyssen at company headquarters in Dusseldorf. EON seeks to build wind farms off the U.K
Mauricio Garrido became Titan Maritime LLC’s newest vice president on May 15th. He will report to Richard Fairbanks, president of Titan. As a member of the Titan management ream, Garrido will catalyze the company’s rapid expansion plans by supporting its global salvage response mission. Garrido, former vice-president of Operations at Resolve Marine Group, brings 17 years of solid experience in the marine casualty response industry
EFC Group, a designer and manufacturer of instrumentation, monitoring, handling and control systems for the global oil and gas industry, announced the launch of a new manufacturing plant in Moray. The base in Enterprise Park, Forres marks the Group’s second phase of expansion
Dron & Dickson, specialist in design, supply and maintenance of hazardous area electrical equipment, has opened an office in Brazil creating the potential for future work in the area. The new base follows on from £10 million of contracts being secured in the region
Viking Cruises launch Viking Ocean Cruises, the first new cruise line in nearly a decade. Developed from the ground up to return the focus of cruising to the destination, Viking Ocean Cruises will begin sailing in May 2015 with its first vessel—Viking Star—embarking on maiden voyages
VT Halter Marine Inc, a subsidiary of VT Systems Inc., announced the arrival of a 12,000 MT Floating Dry Dock transported by a heavy lift vessel from the Philippines. The dock dimensions are LOA- 546 FT x B 128.5 FT x D 46 FT. The dry dock is part of an overall expansion plan to the south yard in
Kinder Morgan announces land purchase, plans to construct dock and expand terminal capacity on Houston Ship Channel. Kinder Morgan Energy Partners say they will invest $106 million to purchase approximately 20 acres adjacent to its Pasadena, Texas, terminal
UASC announced two senior executive appointments to further position the company for its next phase of growth. The major transformation and investment program which is underway, calls for a new operating model to support the business. The appointments provide the depth and breadth to UASC’s
The new build “ZP Bulldog” and her sister tug “ZP Boxer” christened by family of the two General Managers of Schleppreederei KOTUG GmbH. Both ceremonies were held at the tug boat station in the Port of Hamburg with shareholders
Marine & engineering specialist advisors underscore Asia capabilities and commitment to the region. London Offshore Consultants (LOC), the leading marine and engineering advisory group, have doubled the size of their Hong Kong office with the appointment of Ed Wollaston and Steve Salt
The Tognum Group company MTU India opened a new engine test cell facility at its MTU India Service Center in Tathawade, Pune (India). The test cell’s dynamometer system is capable of testing all MTU engines up to Series 4000 engines in the range from 300 to 4,300kW, as per MTU test protocol
In a visit to the Port of Savannah, Panama’s Minister for Canal Affairs Roberto Roy described progress on the canal expansion and heard the latest news on deepening the Savannah Harbor to 47 feet. “With the historic expansion of the Panama Canal nearing completion
Costamare Inc. announced the delivery of MSC Athens, a 8,827 TEU vessel which was built by Sungdong Shipbuilding and Marine Engineering, in South Korea. The vessel has commenced its 10-year time charter with MSC. Mr. Gregory Zikos, Chief Financial Officer of the Company, said
Houston-based Oiltanking Partners LP to expand its terminal on the Houston Ship Channel to meet demand to export liquefied petroleum gas. Expansion plans include a new vessel dock and upgrades to existing ones and should be completed by the end of 2014
The young Singapore marine and offshore engineering industry will soon get another boost of its market share and dominance in the region with HSL Constructor Pte Ltd’s (HSL) latest addition to its fleet of marine vessels. The local marine civil engineering company has launched a new
Gulftainer has recorded a 24% overall increase on trade volumes in 2012 when compared with the previous year. Its Sharjah ports saw the greatest volumes throughout the year, with Khorfakkan Container Terminal seeing growth of 28 per cent on its 2011 figures with a staggering throughput of over 3
Exmar NV (NYSE Euronext: EXM) is pleased to announce that together with Teekay LNG Partners L.P. (NYSE: TGP) they have successfully closed their 50/50 LPG joint-venture. The Exmar LPG BVBA joint-venture controls 15 owned Midsize Gas Carriers (MGC)