Marine link
 

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


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.


Evergreen May Turn Around

Pic: Evergreen Marine Corp. (Taiwan) Ltd

 Evergreen Marine Corp, which has been battered by falling freight rates due to a prolonged supply glut, may swing into profit this year as market conditions improve in the global shipping industry, reports Taipei Times.   The paper quoted  Capital Investment Management Corp as


Evac Names Rudling President, Offshore and Merchant

Evac Group has appointed Claes Rudling as global Business Area President, Offshore and Merchant, effective January 23, 2017. Rudling will continue as CEO of Uson Marine, which was acquired by Evac Group in December 2016.   Rudling is a member of the Evac Group Management Team


Global Shipping Meltdown Impacts European Banks

Photo:  International Chamber of Shipping

 The collapsing maritime shipping industry is stoking another European banking headache, this time in economic powerhouse Germany, says a report in WSJ.   While the Commerzbank, Germany’s second largest bank, reported earnings


Commercial Sea Training Resumes for USMMA Cadets

USMMA Logo.jpg

The United States Merchant Marine Academy (USMMA) has announced that Sea Year training for USMMA Midshipmen will resume on three commercial carriers beginning in March 2017.   The reinstatement of the program follows the implementation of comprehensive new policies


Global Container Fleet Market to Grow 3% in 2017-21

Photo by CMA CGM

 A report forecasts the global container fleet market to grow at a CAGR of 3.19% during the period 2017-2021. The report says key vendors in the market are Maersk, CMA CGM & MSC.   To calculate the market size, the report by Research and Markets  considers volume based on


TRIYARDS Post 17% Revenue Growth

Photo TRIYARDS

 Turnover increased 17% in 1QFY17 driven by contributions across its diverse range of product offerings  Difficult market conditions and different mix of products has led to compressed margins  Successful diversification of product range and client base while maintaining excellent quality


Iraq Oil Exports Steady Despite Start of OPEC Cut

Oil exports from Iraq's southern ports in the first nine days of January have held steady at December's record high, according to loading data and an industry source, despite the start of an OPEC agreement to cut production.   Shipments so far this month have averaged above 3


China Pledges Support for Domestic Shipbuilders

China aims to capture up to 40 percent of the global high-end marine equipment market over the years through 2020 while reforming and supporting its money-losing shipbuilding industry, the government said on Thursday.   The pledges were laid out in a statement published by six ministries on


Samsung Heavy Mulls $6 Bln Orders This Year

Image: Samsung Heavy Industries Co

 South Korean major shipbuilder  Samsung Heavy Industries Co  is aiming to clinch orders worth more than US$6 billion this year, South Korea's Yonhap news agency reported the company's head as saying.   Park Dae-young, president and CEO of the shipbuilder


PDVSA Operations Impacted by Crude Spill

Shipping operations at one of three docks of Venezuela's main crude exporting port were halted after an oil spill occurred while loading a vessel bound for India, union and marine sources told Reuters on Tuesday.   The spill, which happened over the weekend and whose size has not yet been


COSCO 'bidding' for Orient Overseas

Photo: Orient Overseas Container Line Limited

Chinese conglomerate Cosco Group is in talks to acquire smaller rival Hong Kong-based rival Orient Overseas Container Line Co. ( OOCL), Chinese media outlet Caixin reported quoting people familiar with the matter.   The state-owned China COSCO  will compete with Evergreen Marine Corp


In The Middle Of A (Supply) Chain Reaction?

Table: Clarksons Research

 In 2016 the shipping industry saw significant supply side adjustments in reaction to continued market pressures, says a report from Clarksons Research.   For shipbuilders this meant a historically low level of newbuild demand with fewer than 500 orders reported in 2016


OOIL, COSCO Deny Deal Rumors

Image: COSCO, OOIL

 China Cosco Shipping Corporation Limited (Cosco Shipping) and Orient Overseas (International) Limited (OOIL)  denied reports that they are in negotiations for Cosco Shipping to take over OOIL subsidiary Orient Overseas Container Line (OOCL).  


Shipping Loans Weigh Down German Banks

Photo: International Chamber of Shipping

 German banks are still struggling with bad loans from exposure to the shipping industry, reports DW.  The banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard.  


Insights: Margo Marks -President, Beaver Island Boat Company

Margo S. Marks

Margo S. Marks is President/General Manager of Beaver Island Boat Company, Beaver Island, Mich. The company has provided passenger, vehicle and freight services, between Beaver Island and Charlevoix, Mich. since 1984. The first ferry service to the island began in 1890. B.I






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright