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Industries Reports

SembCorp Completes Rig Job

SembCorp Industries reported that its engineering and shipyard units have jointly completed the fabrication and assembly of an offshore rig for Woodside Energy of Australia. The vessel - Northern Endeavour - is owned by Woodside Energy of Australia, Shell Development (Australia) and BHP Petroleum. The barge type steel hull vessel has an oil storage capacity of 1.4 million barrels and was scheduled to start production in October.


KVH Foresees Further 2003 Growth Expectations

Satellite communications provider, KVH Industries, reported its results for the second quarter ended June 2003. The Middletown, R.I. company, which also manufactures defense-related navigation and guidance systems, reported net income for the period was $0.4 million. By comparison, KVH recorded a net loss of ($0.8) million, during the same period last year. Revenue for the period was $14.4 million, up 14 percent from $12.6 million for the second quarter ended June 30, 2002


Oil Price Dives

U.S. stocks of crude oil, gasoline and heating oil grew last week according to the Energy Department on Wednesday, which was more bearish than Tuesday's industry report, analysts said. The figures were evidence that threadbare crude and products stocks that have plagued the petroleum complex most of this year are finally being replenished by increasing imports, analysts said. Crude stocks rose 3.1 million barrels last week according to the Energy Information Administration (EIA), about 700


MarineCFO Live Software: 40 Companies Buy-In

MarineCFO, a provider of On-Vessel, Marine Operations, Personnel, Fleet Maintenance and Financial Management Software Solutions to the workboat industry, reports that its on-line version, MarineCFO  Live! – launched in late 2009 – has seen explosive growth in 2010. Marine companies report a number of benefits with MarineCFO Live!, which is now being used by more than 40 marine companies in 10 countries, including Harvey Gulf, Otto Candies, Enterprise Products


China Shipbuilders Woeful, Many Face Uncertain Future

Many Chinese shipbuilders flounder in the face of a declining world shipping slowdown according to the latest industry reports. Production at Chinese yards, the world's biggest shipbuilders by tonnage, declined steeply during the first three quarters of the year, reports 'China Daily'. During the period, finished capacity dropped by 18.5 percent from last year to 41.58 million deadweight tons, and new orders decreased by 46.9 percent year-on-year to 15


Swiber Reports Profitable First Half 2013

Swiber logo

Singapore's Swiber Holdings construction & support services providers to the offshore oil and gas industry, reported that net profit in the half year ended June 30, 2013 rose 11.8% to US$37.4 million from US$33.5 million in the half year ended June 30, 2012. Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, “The first half of this year has seen Swiber making strides in several ways


Conrad Industries Reports 3Q Results

Conrad Industries, Inc. reported net income of $71,000 for the quarter ended September 30, 1999, compared to net income of $1.3 million for the quarter ended September 30, 1998. The company had net income of $1.6 million for the nine months ended September 30, 1999. Revenues for the quarter and nine months ended September 30, 1999 were $6.9 million and $25.1 million, respectively. Revenues for the quarter and nine months ended September 30, 1998 were $12.8 million and $36


Conrad Industries Reports Earnings

Conrad Industries Inc. expects to report earnings per share for the quarter ending Sept. 30 of between $.01 and $.03 compared to earnings per share of $.10 for the quarter ending June 30. For the quarter ending Dec. 31, earnings per share are expected to be between $.05 and $.08. The company expects earnings per share of between $.28 and $.33 for the year ending Dec. 31. William H. Hidalgo, president and CEO, stated, "Our earnings for the third and forth quarters will be below the levels we


BW Selects KVH mini-VSAT Broadband for LNG and LPG Fleet

Photo: BW Maritime

KVH Industries, Inc. was chosen by BW, a worldwide maritime energy transportation company, as the satellite communications solution for its Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) fleet. BW’s vessels will use KVH’s advanced, dual-mode TracPhone V11-IP onboard satellite communications system and mini-VSAT Broadband service for the “always-on” broadband connectivity that is essential for today’s commercial maritime operations


Can Fracking Waste be Carried on the Water?

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The barging industry has the answer. It’s nowhere near as complicated as it seems. As shale gas production continues to ramp up across the United States, millions of gallons of wastewater is created through the process of hydraulic fracturing, or fracking. That waste, referred to as shale gas extraction wastewater (SGEWW), or frack water, needs transport to storage and reprocessing facilities around the U.S., including disposal sites in Louisiana, Texas and Ohio


HHI Subsidiary to Shed POSCO Stake

Hyundai Mipo Dockyard Co Ltd said on Tuesday it had decided to sell a stake worth 286 billion Korean won ($260.46 million) in steelmaker POSCO , in a bid to improve its balance sheet. Hyundai Mipo, a shipbuilding affiliate of world's largest shipbuilder, Hyundai Heavy Industries


JPMorgan Hires Former Glencore Crude Trader

JPMorgan Chase & Co has hired Edwin Tay, formerly with Glencore, as a senior crude oil trader in Singapore, industry sources said on Wednesday. Tay starts with the U.S. bank in January, they said. JPMorgan declined comment. JPMorgan completed the sale of its multibillion-dollar physical


Sustainability Report: Carnival Ahead of Emissions Goal

Photo: Carnival

Carnival Corporation & plc released a report today detailing its sustainability efforts, including initiatives which enabled the company to meet its corporate goal to reduce its rate of CO2 emissions from shipboard operations by 20 percent, a year ahead of its initial plan


Strategy Can Maximize UKCS potential

North Sea and UKCS Potential

Companies operating in the North Sea require a cultural shift to make the most of the its potential, according to a new report from Deloitte, the business advisory firm. The report, which gauges the oil and gas industry’s reaction to Sir Ian Wood’s Maximising Recovery Review


Areva to Cut Investments to Avoid Ratings Downgrade

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  French state-owned nuclear power group Areva will likely decide this week to scale back investments in order to avoid having its credit rating downgraded to junk status, weekly newspaper Le Journal du Dimanche said. The paper, citing unnamed sources


North Sea firms “Biding Time”

Oil and gas operators may be sitting on new investment decisions until the future of the North Sea becomes clearer, according to the latest report from business advisory firm Deloitte. The report, which details drilling, licensing and deal activity across North West Europe over the third


Reducing Human Error & Near Miss Incidents

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We recently came across a very interesting report issued to Congress by the United States Coast Guard. The May 2012 study might seem dated, but that’s hardly the case. Actually, it’s a telling description of what can go wrong, why and perhaps


S. Arabia Raised Output in Sept

  Top oil exporter Saudi Arabia told OPEC it raised its oil production in September by 100,000 barrels per day, adding to signs it has yet to respond to a drop in prices well below $100 a barrel by trimming output. In a monthly report issued on Friday


Frontline appoints Macleod as new CEO

Crude oil tanker firm Frontline, part of shipping tycoon John Fredriksen's business empire, appointed Robert Hvide Macleod as chief executive to replace Jens Martin Jensen, the firm said on Monday. Jensen, who was elected to the Frontline board last month


Hyundai Heavy Plummets to Worse Loss Ever

A HHI-built LNG Carrier. (Source: HHI)

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders.


Shipbuilding: COSCO Warns of Struggle if Credit Tightens

COSCO Corp (Singapore) , part of one of China's largest shipbuilding groups, warned that its customers could struggle to pay their bills as funding costs rise, after posting sales on credit at their highest level in 11 years.   The Singapore-listed subsidiary of Chinese state-owned maritime


China Pledges Mergers, Private Investment in Shipping Industry Reform

China has issued further guidance to support and modernize its shipping industry, saying it would encourage mergers and private investment as well as develop its cruise industry. The world's biggest trading nation is focusing on the shipping industry as it grows more assertive over territorial


Alpha Bank Raising $510 mln From Securitized Loans

Greece's Alpha Bank is set to raise about $510 million from securitized shipping loans in one of the first European asset-backed deals in the sector for nearly a year, finance industry and Alpha bank sources said on Friday. The deal, which is being arranged and financed by Citigroup and bundles


COSCO Chairman Expects Shipping Slump to Persist

 Ma Zehua (Photo: COSCO)

The global shipping market is unlikely to see a recovery during the next two years as it grapples with an oversupply of vessels, the chairman of China's largest shipping group said on Wednesday. The sector has been battling overcapacity since the 2008 financial crisis because new vessels


As Oil Prices Drop, Rigs Go Off-Line

Photo courtesy of Transocean

Transocean Ltd, the owner of the world's largest offshore drilling fleet, said it was likely to retire additional rigs as the company continued to face pressure due to slowdown in an oversupplied rig market. The drilling contractor's shares rose as much as 3 percent in early trading after the






 
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