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Expansion Plans

Kursiu Linija Sells Eimskip Share

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 Deliziosa Completes Her Technical Launch

Costa-Luminosa_Costa-Delizi.jpg

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


Griffin Makes New Appointment

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


Daewoo Shipbuilding Projections 2007 Soar

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


ACB Unveils Expansion Plans

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 Lines up Investments

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.


P&O, Festival Squash Consolidation Plans

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 Falls on Concerns of Sale Delay

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 to Cut Cost of Offshore Wind Farms 40 Percent

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


Nordic American Cancels Tanker Order

Nordic American Tankers Ltd. announced that it has cancelled the purchase of a suezmax tanker.  In a press release of March 20, Nordic American Tankers Ltd. (NAT) announced that it had entered into an agreement to acquire a suezmax tanker. The tanker was to be delivered no later than mid-May 2013. On request of the Seller of the vessel, NAT agreed to extend the delivery date until June 15, at the latest. Towards the end of May


ABB Turbocharging Service Point at Drydocks World

Photo: Drydocks World

ABB engineers and machinery now permanently based onsite in Dubai shipyard Drydocks World, the international service provider to the maritime, oil and gas and energy sectors announced today that ABB’s first-ever Middle Eastern Turbocharging Service Point is now in operation inside its


GasAtacama has US LNG Providers Lined Up

Photo: GasAtacama

GasAtacama, energy provider to metal producers in Chile's Atacama desert, has lined up eight potential U.S. natural gas suppliers for a proposed import terminal on its Pacific Coast, but uncertainty about energy demand has delayed deals, CEO Rudolf Araneda told Reuters on Thursday.


Padbury Mining Secures $6.5 Bln Port Funding

Source: Padbury Mining

Australia's Padbury Mining Ltd said it had secured almost $6.5 billion in funding to build a new deepwater port and railway at Oakajee in Western Australia, potentially opening a new export hub for the region's iron ore riches.   Plans for a port at Oakajee in Western Australia's Midwest


Shell Commited To Russia Expansion Despite Sanctions

Meeting with Shell CEO Ben van Beurden. (Photo: The Presidential Press and Information Office)

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions imposed on the country after its annexation of Ukraine's Crimea region.  


Maersk Training Appoint Stuart Cameron UK Managing Director

Stuart Cameron: Photo credit Maersk Training

Stuart Cameron, who was previously managing Maersk Training in Newcastle, will now oversee both UK training centres in Aberdeen and Newcastle, and will be responsible for driving further the company’s expansion plans in the growing UK Oil & Gas, Maritime and Offshore Wind sectors.


Maersk Training Bolsters its Senior Management

David Bowyer

Maersk Training has announcement  the appointment of David Bowyer as new Head of Training and Education. David joins the senior management team to oversee all aspects of training, following recent growth in the number of delegates attending their courses.


Green World Products Offers Distribution Rights

Bids for distribution rights are currently being accepted for businesses selling directly to the industrial and environmental marine markets. Green World Products, LLC has begun its expansion plans by licensing a limited number of territories in the United States


Huisman is Keeping Very Busy in Schiedam

Photo: Huisman

Huisman, a worldwide specialist in lifting, drilling and subsea solutions, currently has five new built pipelay systems out on the quayside of their production facility in Schiedam, The Netherlands. These “high five” showcase the latest in pipelay technology and underline the added


Storm-Bound Charity Vessel on African Voyage Gets Free Paint Job

Medical vessel Jubilee Hope: Photo courtesy of the Vine Trust

Stormy weather has forced a ship to take refuge in Falmouth, England, on the first leg of its charity voyage from Scotland to Africa, where it will become a medical ship serving isolated communities. A&P Falmouth shipyard say they are assisting the Jubilee Hope


Damen Delivers Second Twin Axe FCS 2610 to Sure Wind

Photo: Damen

British company Sure Wind Marine Ltd. has taken delivery of its second Damen Twin Axe Fast Crew Supplier – the Sure Swift - in a little over a month after the first joined the company’s fleet. Established in 2009, Sure Wind is a specialist in the German offshore wind market and now


ISS–Tositti Expands Presence in East Adriatic

ISS-Tositti, the joint venture formed at the beginning of 2005 between the independent marine services organization, Inchcape Shipping Services (ISS), and Venice-based Tositti & C., is teaming up in a new strategic partnership with the Koper-based port agency, Navigo Logistika


MOL President Muto Visits Myanmar

MOL President Koichi Muto making a speech

Mitsui O.S.K. Lines, Ltd. (MOL) president Koichi Muto hosted an appreciation cocktail party for government leaders, customers, partners and MOL employees on March 5 at Park Royal Hotel, Yangon. It was well attended by 110 guests including Ichiro Maruyama, Minister-Counsellor/Deputy Chief of Mission


Australia's Iron Ore Miners Hang Tough as Prices Fall

By James Regan, Reuters If Australian miners are worried about the dramatic decline in iron ore prices, it doesn't show. At an annual gathering of many of the world's biggest and smallest iron ore producers here the mood is upbeat - as if the heftiest one-day fall in ore prices since the


Epic Gas Secures Tankship Fleet Expansion Credit

Image courtesy of Epic Gas

CITIC Maritime Finance says it has provided a $46.4 million senior secured credit facility to Epic Gas Ltd. headquartered in Singapore, which operates a fleet of  40 LPG and petrochemicals tankships. CITIC add that the facility was used to partially finance the acquisition of a fleet


AWA Opens Houston Office

American Worldwide Agencies (AWA) is adding to its global network of freight forwarders and agents with a new office in Houston, the company announced today. The Houston office is part of AWA's global expansion plans and will handle the company's growing business in the region for project freight


 
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