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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


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


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


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 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


Asia Dry Bulk-Capesize Rates Could Rise in Short Term

File Image: a so-called ValeMax bulk carrier, commonly used in th Brazil-Asian trades (credit: Vale)

Shipowners seeking $10 per tonne from Brazil-China; dry cargo demand to remain subdued this year. Freight rates for large capesize dry cargo ships on key Asian routes may firm up next week on increased chartering activity, tighter tonnage supply and possible port disruption caused by bad weather in China, ship brokers said on Thursday. "The general consensus is there will be an improvement in rates next week," a Singapore-based capesize broker said.


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 Shipping Nations Act on Global Emissions?

Photo by Aiswarya Lakshmi

 Shipping was not included in the global temperature-reduction targets agreed in the historic 2015 Paris Agreement on Climate Change, yet the shipping industry pledged to move forward “in the spirit of Paris,” says a report in the WSJ.  


40% Cruise Ships Use Outdated Sewage Treatment Plants

ACO Marine Managing Director Mark Beavis “The FOE report paints a contrasting picture to the environmentally conscientious one offered by the cruise lines themselves”

ACO Marine has welcomed the findings reported in the Friends of the Earth 2016 Cruise Ship Report Card, the annual survey of cruise shipping’s impact on the environment, which highlights a growing need for the sector to update its sewage treatment technology.


South Korea Mulls LNG Bunkering Hub

Image: SSPA Sweden AB

 A group of South Korean companies including shipbuilders have come together to establish an association dedicated to developing liquefied natural gas (LNG) bunkering facilities and infrastructures including LNG-fueled vessels, says a report in the Pulse.  


Hyundai Heavy Affiliate Aims to Sell Stake in Brokerage Unit

South Korean shipbuilder Hyundai Heavy Industries said on Wednesday that its affiliate aims to sell its brokerage unit Hi Investment & Securities by the end of this year.   The affiliate, Hyundai Mipo Dockyard, holds an 85 percent stake in Hi Investment & Securities.  


Q88 LLC Expands Milbros Onboard Services

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Q88 LLC introduced a global support program that coordinates quick response and expert consultation for chemical spills/incidents and medical emergencies occurring onboard vessels at sea. Known as Q88 Response Center, the new program leverages the resources of Spill Center


Road Ahead for India's Logistics Industry Post WB Report

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India’s position to 35th rank in the latest bi-annual World Bank Logistics Performance Index (LPI) report will open many corridors of opportunities as industry will witness swift growth in international as well as inter-state freights, an effect of Union Government’s commitment to make


DNV GL Advises EU on Adoption of LNG as Marine Fuel

As the take-up of liquefied natural gas (LNG) as ship fuel in Europe is still largely in its early stages, DNV GL has provided a report for the EU providing recommendations on how to address barriers to wider adoption.   By November 2016 all member states are required to submit national


DNV GL Recommendations for Adopting LNG as Ship Fuel

LNG as ship fuel in Europe is still at early stage. Photo DNV GL

As air emission requirements are becoming more stringent, one possible solution for reduced emissions is to use LNG as fuel for shipping.  However take-up of LNG as ship fuel in Europe is still at an early stage.  DNV GL has provided a report for the EU1 providing recommendations on how


Maersk May Swallow Hyundai Merchant

File Photo: Hyundai Merchant Marine Co

 Business Korea reports that rumours are now rife in the container business world that Maersk could swoop on Hyundai Merchant Marine and subsume its activities into their own business.   The report says that recent moves by Hyundai Merchant Marine to join the 2M alliance led by Maersk


MARAD Report: Energy Efficiency & Battery Compartment Design

MARAD Logo

MARAD released an Energy Efficiency White Paper. The Maritime Administration (MARAD) has announced the availability of the Energy Efficiency White Paper that provides marine vessel owners and operators information on how to evaluate potential investments in efficiency measures and technologies


India’s Potential in Offshore Wind Power

Image: DNV GL – Energy

 The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India.    This study is a significant step forward in preparing a roadmap for


Negative Outlook for Global Shipping Industry: Moody’s

Photo: Global Shippers Association (GSA)

 Moody's Japan K.K. says that its outlook for the global shipping industry over the next 12-18 months is negative.   "The negative outlook reflects our expectation that earnings will worsen, with freight rates likely to remain depressed amid ample supply," says Mariko Semetko


Houston International Seafarers Centers to honor Aalund in September

Niels Aalund, SVP, West Gulf Maritime Association (image: WGMA)

On September 24, 2016 the Houston International Seafarers Centers will host their Annual Maritime Gala . Niels Aalund, Senior Vice President, West Gulf Maritime Association, will be honored as the " Bronze Anchor Award” recipient.


ABS launches NS Vessel Performance

Photo: ABS

 ABS, a leading provider of classification services to the global marine and offshore industries, today unveiled ABS Nautical Systems Vessel Performance – a comprehensive software solution developed in response to continued demand for tools that improve vessel efficiency


China to Build its First Luxury Cruise Ship

Image: Royal Caribbean International

 Waigaoqiao Shipbuilding, subsidiary China CSSC Holdings Ltd is about to establish a cruise liner development company in Shanghai along with Guangzhou Shipyard International Co Ltd and two ship design institutes, says a report in China Post.  






 
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