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.
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
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
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
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 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
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
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
US-bsed shipbuilder Conrad Industries records profit, new orders for barges, cargo/passenger ferry, in 2011 results Conrad Industries, Inc. has announced its fourth quarter and twelve months 2011 results and the addition of new business during the first quarter totaling $61.8 million. New business added during the first quarter of 2012 includes the signing of new contracts and sales of stock barges which brings estimated current backlog to approximately $68.7 million, compared to $47
The U.S. Department of Transportation’s Maritime Administration (MARAD) today released a report entitled, "Maritime Research and Technology Development." The report reviews U.S. transportation research and technology development with special emphasis on the marine transportation system. The report reviews the history and future needs of U.S. maritime transportation research and technology development in the context of support for other transportation research
China Rongsheng Heavy Industries Group, the country’s largest private shipbuilder, expects to report a substantial full-year loss just months after it appealed to the government for financial help, reports Reuters. Analysts have indicated that the company could be the biggest casualty of
The Tanker Safety Expert Panel, an independent panel appointed to review Canada's current tanker safety system and to propose measures to strengthen it, has released its report: 'A Review of Canada's Ship-Source Oil Spill Preparedness and Response Regime—Setting the Course for the Future.'
Significant volumes of dry bulk carrier orders, most of them for Chinese shipyards, are reported by Clarkson Hellas in their latest S&P Weekly Bulletin, as follows: Starting with the large sizes in dry, Oldendorff Carriers are reported to have declared the sixth in a series of 207
Beginning December 1st, 2013, the Captain of the Port (COTP) Sector Delaware Bay is setting a Seasonal Ice Alert for navigation within the Delaware River, Delaware Bay, all existing tributaries, and the New Jersey and Delaware Shore. With the onset of fall and winter
In spite of rising political tension expressed in Bangkok rioting, government sources state that all official services, including Customs and port authorities, are working as normal, reports ship services supplier GAC. However, according to reports in the local press
The International Chamber of Shipping (ICS) – the worldwide trade association for shipowners – has made a written submission to the United Nations International Maritime Organization (IMO) suggesting a possible way forward with respect to complex discussions about additional global
Global business risk consultancy Drum Cussac Ltd. delivered an antipiracy training program for the Malagasy Navy at the Naval Base in Diego Suarez, Madagascar. It is the first time that a private company has been permitted to partner with the Malagasy Navy.
About 85 people have been injured, six of them seriously, when the high-speed ferry hit an unidentified object while travelling to the gaming mecca of Macau reports BBC News. The accident, which threw many of the 100+ passengers out of their seats
Hyundai Heavy Industries (HHI) has promoted Lee Jae-sung, from CEO to chairman, the position having become vacant when former chairman Min Kye-shik left the shipbuilder in December 2011, reports 'The Korea Times'. This is part of a management reshuffle designed to defy concerns over corporate
The November 2013 edition of Lloyd’s Register’s Gas Technology Report is dedicated to LNG as a marine fuel. Highlights include a look at developments in Canada – a shipowner, the regulator and a shipbuilder talk about gas fuelled shipping
Ship Finance International Limited announced its preliminary financial results for the quarter ended September 30, 2013, reporting preliminary 3Q 2013 results and quarterly dividend of $0.39 per share Hamilton. Highlights Declares third quarter dividend of $0.39 per share
The NCSA-USG area remains short of tonnage: a 34,000 dwt bulk ship is well-linked to US$ 15,000 daily for a short period of 3-5 months, reports BMTI in its latest 'Handy Bulk Market Viewpoint'. Owners of a similar size of tonnage were seeing US$ 24,000 daily for a trip to Europe
The Canadian Association of Defence and Security Industries (CADSI) confirms industry support for the long-term vision of government following release of the Auditor-General's report on shipbuilding procurement strategy. "Today's report by the Auditor-General on the National
"World Shipping (China) Summit 2013" held in Ningbo, focused on the theme 'Responding to New Realities' with Hong Kong-based terminal & shipping group China Merchants Holdings International Co. (CMHI) acting as its special sponsor in conjunction with COSCO.
Altogether 26 people are missing after two ships sank in separate incidents off the coast of east China's Shandong Province, reports Xinhua. Strong gales were forecast off Shandong, when twelve people were confirmed missing after the ship "XINGLONGZHOU65"