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
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
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
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
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
Conrad Industries Reports Profit, New Orders in Annual Results
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
Maritime Research and Technology Development Releases Report
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
Scottish Offshore Wind Sector to Create More Jobs
According to a September 16 report from IB Times, Scottish Renewable and Scottish Enterprise have published a report which anticipates that Scotland’s offshore wind industry is set to create 28,000 jobs by 2020. This is alongside a further 20,000 jobs created indirectly in neighboring industries. In turn this will create an $11.1b boost to the economy. The report sets out four scenarios as to future growth and says that the above can only be achieved with the correct investment in grid
AUV Manufacturing a Growth Industry Says New Report
Strong revenue growth will continue over the next five years as AUV's (Autonomous Underwater Vehicle) are increasingly used in commercial scenarios predicts IBISWorld's market research. The Autonomous Underwater Vehicle (AUV) Manufacturing industry has generated robust growth over the past five
DryShips Reports 1Q 2013 Financial and Operating Results
DryShips Inc., an international provider of marine transportation services for drybulk and petroleum cargos, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, announced its unaudited financial and operating results for the first quarter ended March 31, 2013.
Logistics Revenues Surpass Pre-recession Levels
The latest report from Ti, Global Transport and Logistics Financial Analysis 2013, reveals the winners and losers in the global logistics industry over what has been a tempestuous six year period. Analyzing the financial accounts of 20 of the world’s largest publicly quoted express
IEA Pushes for Renewables and Nuclear Power
In a review of Finnish energy policies launched, the International Energy Agency praised Finland for its commitment to a sustainable energy future. With its energy-intensive industries and its cold climate, Finland’s energy consumption per capita is the highest in the IEA
China to Build 142 Ships for Greek Companies
Greek Shipping Minister Kostis Moussouroulis announced the orders for Chinese shipbuilders on his recent visit to Shanghai. The orders, which were signed in April, accounted for more than 60 percent of the recent global orders of Greek shipowners, reported Xinhua, citing the Greek minister.
Putin Urges Naval Shipbuilders to Expedite Deliveries
The United Shipbuilding Corporation (USC), is under criticism from Russian President Vladimir Putin for delays in delivery of several warships for the Russian Navy, RIA Novosti reported. In his complaint to USC officials, Putin cited problems with efficiency and quality on a number of projects
Norwegian Software Improves Efficiency for Offshore Divers
Norwegian software company Tero Marine developed a new solution that they say will reduce workload and help improve safety for offshore divers. “It has enabled us to reduce the time we spend on reporting by 75 percent, increasing our ability to be more cost efficient
Coast Guard Evacuate 78 From Blazing Fishing Vessel
Crewmembers aboard the 314-ft fishing vessel 'Arctic Storm' extinguised an engine-room fire using the ship's Halon chemical firefighting system. The Coast Guard continues to respond to the vessel approximately 30 miles west of Grays Harbor, Wash.
Ingalls Appoints Mathieu as VP and GM of Avondale
Huntington Ingalls Industries announced that René Mathieu has been named vice president and general manager, Avondale Industries Inc., effective May 20. He is responsible for all non-Navy aspects of HII's energy infrastructure business in Avondale, La
Passenger Ship Grounded off Scotland Coast
The passenger ship 'Serenissima' grounded Monday night in Oban Bay, was refloated the next day & awaits underwater inspection. The UK Maritime and Coastguard Agency reported that the Stornoway Coastguard was alerted and was told that the ship had ran aground on sand and gravel
Shipwrecks Pose US Sea Pollution Threat
New NOAA report presented to the US Coast Guard examines national oil pollution threat from shipwrecks in US waters. The report finds that 36 sunken vessels scattered across the U.S. seafloor could pose an oil pollution threat to the nation's coastal marine resources
Hapag-Lloyd Cuts Losses in Q1 2013
The company reports its earlier loss significantly reduced in first quarter 2013 financial results. Financial highlights: Freight rate up 4.2% year on year Slight increase in transport volume Revenue growth of 3.1% Loss significantly reduced
China's Shipbuilding Hub Faces Precipice
Jiangsu Province’s Economic and Information Technology Commission reviews Q1 2013 province-wide shipyard finances. The review of the shipbuilding industry’s performance showed that 44 privately-owned shipbuilders out of 66 failed to win new orders and none of major seven
Insights: Rear Admiral Joseph A. Servidio
Assistant Commandant for Prevention Policy United States Coast Guard Rear Admiral Joseph A. Servidio is Assistant Commandant for Prevention Policy overseeing Inspections and Compliance, Marine Transportation Systems, and Commercial Regulations and Standards
GSI Completes Two Major Oil and Gas Contracts
Gulfstream Services Inc. (GSI), provider of equipment to the international oil and gas industry, has successfully completed two six figure decommissioning contracts with oil and gas service companies, Helix Well Ops U.K. and Dof Subsea. The Helix contract was part of the BP North West Hutton