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.
According to the U.S. Energy Information Agency, one of the world’s oil transit choke-points is the Suez Canal, the Panama Canal being another. However, the recently announced Suez Canal expansion plans are more likely to cater for containership transits, in strong competition with the expanding Panama Canal, rather than respond to the demand from oil tanker transits. On Tuesday, August 5, 2014, the Egyptian President Abdel Fattah el-Sisi unveiled the project
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
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
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.
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
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
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.
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
Global recession in the shipbuilding industry has affected the financial position of a number of yards especially in the private sector. Due to market downturn post 2008 and the lack of government policy support, all shipyards other than the defense shipyards are facing
OL International Holdings LLC (OL International) today announced the renaming and rebranding of TTS Worldwide as OL USA. Effective February 1st, 2017, the change is the latest and most symbolic development in an aggressive, multi-year strategic expansion plan for OL International’s
The infrastructure works for Berth 5 and Berth 6 are about to be finished in a few weeks, King Abdullah Port announced. The two berths are part of the port’s strategic expansion plan, which aims to significantly uprate the port’s capacity
MAN Diesel & Turbo and MV Werften have concluded a contract to equip two Global Class cruise ships for Star Cruises. With a registered tonnage (RT) of 200,000 tons each, the ships will be some of the largest on the market and will each be equipped with six type 48/60CR engines with a
The Ministry of Shipping is planning to develop Paradip as a world class, globally competitive, smart industrial Port City, Joint Secretary (Ports) Pravir Kishn said. The rationale behind developing Paradip as a smart city is that it already has a Major Port and strong mineral
Company blames softer market conditions; plan to add 1.5 mln TEU to Terminal 3 delayed into 2017. DP World, one of the world's largest port operators, is delaying the expansion of Dubai's Jebel Ali port, its main facility, because of softer market conditions, the company said on Thursday.
Softening demand growth coupled with larger liner shipping alliances and bigger ships is moving the container ports industry towards a value sector from growth sector, albeit still highly profitable, according to the Global Container Terminal Operators Annual Report 2016 published by global
Dubai-based port operator DP World has signed a long-term lease agreement for the expansion and operation of the multi-purpose Rodney Container Terminal (RTC) at Saint John in New Brunswick, Canada. The global trade enabler will start running existing operations on 1 January 2017
DP World has signed a long-term lease agreement for the expansion and operation of the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada. The global trade enabler will start running existing operations on 1 January 2017 and work in partnership with the Saint John Port
Gulf Petrochem Group, the UAE based global bunker supplier, has announced that it is now officially offering physical bunker supply in the port of Rotterdam, out of its new office based in Dordrecht. The office will cater to the group’s global customers and provide them with a wide
Thyssenkrupp supplied 14 innovative elevators for expansion of the Panama Canal , seven for each new lock complex, one of which is on the Atlantic side and the other on the Pacific. Traffic through the locks will be monitored from two control towers that can be accessed via
OEM Group has secured a two-year contract worth up to £1 million with Go Marine to deliver engine support services to its fleet of vessels operating across the world for the oil and gas industry. Under the global technical support and services agreement
VT Halter Marine, Inc. has delivered the 6,000hp Twin Screw Articulated (ATB) tug, MV Frederick E. Bouchard, to owner Bouchard Transportation Co., Inc. at the shipbuilder’s facilities in Pascagoula, Miss. on Wednesday, June 8, 2016.
Annual container handling capacity increased to 1.35 million TEUs from 850,000 TEUs APM Terminals Pipavav (Gujarat Pipavav Port Ltd) reports it has completed its capacity expansion project on time and within budget, increasing its annual container throughput handling capacity from 850
EMC today announced a new global Ku-band VSAT package of connectivity and content for ships at sea, optimized for the next-generation high-throughput satellite (HTS) networks that are now being deployed. “Designed with crew welfare as a top priority