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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 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?

1_201131201258_o.jpg

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


Study Targets Improved Subsea Mattress Salvage

Mattress recovery operation (Photo: Jee Ltd.)

Subsea mattress research announced at decommissioning event   Independent multi-discipline subsea engineering and training firm Jee Ltd. has completed a contract with Decom North Sea (DNS), the representative body for the decommissioning industry


DNV GL’s Synergi to Manage Siem Offshore Newbuilding Projects

Illustration Siem Offshore

Siem Offshore has chosen DNV GL’s Synergi Project to manage nine newbuilding projects. Synergi Project software The software is used to optimize the collaboration between Siem Offshore and the yards and to keep control of building processes.


Red Tape, Industrial Relations Could Stifle LNG Potential

Woodside LNG tanker Photo APPEA

  Australia could develop the world’s most technologically advanced LNG industry, according to a report by Accenture. But if industry is to reach its potential and maximise its contribution to the national economy, it must first overcome some significant hurdles.


HSH Nordbank Looking to Split Off Bad Shipping Loans

Image: HSH Nordbank

 HSH Nordbank AG, the world’s second-largest financier of ships, plans to split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, reports Reuters.   The city of Hamburg was willing to inject billions of euros in


HSH Bank to Split Off Bad Shipping Loans

German lender HSH Nordbank could split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, according to a person familiar with the matter. Germany's Manager Magazin reported earlier on Thursday that the city of Hamburg was


Japan to Bid on Aussie Sub Replacement Contract

Japan will join competitive bidding to sell Australia a fleet of stealth submarines, the government said on Monday, a move expected to require Tokyo to supply Canberra with classified data. The development comes as Prime Minister Shinzo Abe moves to strengthen security ties with ally the United


Offshore Oil & Gas: Floating Production Market a Bright Spot

Safe stroll: crew aboard the Maersk Peregrino FPSO off Brazil (and above) Photo: Oeyvind Hagen Statoil

Despite industry gloom about the offshore market, orders for production floaters continue to flow.  Over the past few weeks a speculatively-ordered FLNG found use off Africa, negotiations began to convert a third LNG carrier to an FLNG, an FSRU was ordered and a modified LNG tanker has been


PPG Announces Executive Appointments

Morales Vince

  PG Industries today announced executive appointments effective June 1. Vince Morales, currently vice president, investor relations, will become vice president, investor relations, and treasurer. Morales will report to Executive Vice President and Chief Financial Officer Frank Sklarsky


Daewoo Shipbuilding Eyes Maersk Boxship Order

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) is in talks with a unit of A.P. Moller-Maersk for a potential order to build ultra-large container ships, a DSME spokesman said on Monday. DSME is close to winning an order for some 11 container ships of 20


Being a Shipmaster in Europe Made Easy

new electronic system which will simplify the reporting regulations

  From 1 June 2015, the administrative burdens imposed on the maritime industries in Denmark and the rest of Europe will be reduced through the implementation of a new electronic reporting system. "National Single Window".


BSEE Launches Efforts to Reduce Offshore Risk

BSEE Director Brian Salerno announces key efforts to reduce risk offshore   Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno made two announcements during a press conference in Houston Tuesday at the Offshore Technology Conference (OTC) - each aimed at reducing


GE Gas Turbines to Power Turkish Corvettes

Photo: GE Marine

GE Marine announced it has signed a contract with Savunma Teknolojileri Mühendislik Ve Ticaret A.Ş. (STM), Ankara, Turkey, whereby GE will provide STM with LM2500 gas turbines. The engines will power the Turkish Navy’s third and fourth MILGEM multi-purpose corvettes


Hercules Offshore: Challenges Ahead in 2015

Drilling contractor Hercules Offshore Inc forecast a challenging year ahead as demand for its rigs remains weak with producers scaling backing drilling due to a slump in global oil prices. Shares of the company, which reported a smaller-than-expected loss


EU Adopts New Ship CO2 Reporting Rules

Image: The International Chamber of Shipping (ICS)

 Members of the European Parliament (MEPs) have supported draft EU rules requiring ship-owners using EU ports to monitor and report CO2 emissions each year.   The text establishes an EU-wide system for monitoring, reporting and verification (MRV) of greenhouse gas emissions from


Oil Rallies Briefly after Iran Seizes Cargo Ship

Oil prices rallied briefly on Tuesday after reports that Iran had seized a cargo vessel, described initially by Iranian and Saudi media as a U.S. ship, raised geopolitical tensions and concerns about the security of Middle East crude shipments.  






 
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