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
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
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
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
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
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
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
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
Singapore's Swiber Holdings, a construction and support services provider to the offshore oil and gas industry, reported that it has achieved record revenue and net profit for the second consecutive year-running for the full year ended December 31, 2013.
Huntington Ingalls Industries reports Fourth Quarter & Year 2013 financial results with increased revenues in each period. Highlights are as follows: • Revenues were $1.94 billion for the fourth quarter and $6.82 billion for 2013
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
The Chinese and British shipping industries are set to take their mutual cooperation to a higher level following the recent signing of a memorandum of understanding (MOU) reports Xinhua. The MOU was signed by the Lord Mayor of London, Fiona Woolf; the Vice President of the Investment Committee
Troubled South Korea shipbuilder STX Heavy Industries Co. issued a guarantee on a loan defaulted on by its Chinese heavy machinery manufacturer, STX Dalian Heavy Industries Co., from China's Bank of Communications and has been ordered to repay the loan, reports Yonhap.
The oil tanker reported missing on January 18 at Angola, Luanda Anchorage was allegedly released by hijackers, according to a statement from the vessel's owner, Greece-based Dynacom Tankers Management Ltd. The Liberian-flagged MT Kerala was hijacked by pirates who stole a large amount of cargo
Titanium Industries, Inc. (T.I.) announced the recent opening of a new sales office in Duisburg, Germany. This new facility is an integral part of T.I.'s global growth strategy with specific focus on the European Market including expansion on the continent. T.I
A new analysis 'Africa Gearing Up: Future prospects in Africa for the transportation and logistics industry' has been released by PricewaterhouseCoopers (PwC), with the following joint introduction by Klaus-Dieter Ruske, Global Leader Transportation & Logistics, and Peter Kauschke
Pacific Drilling says that the latest in its fleet of 5 of new ultra-deepwater drillships is in service. Two additional drillships are under construction at Samsung Heavy Industries for delivery in 2014, and an eighth rig is under construction for delivery in March 2015.
According to the Yonhap News Agency Hyundai Heavy Industries Co., the world's largest shipbuilder informed Thursday that its net profit tumbled 86 percent last year from a year ago due to a fall in ship prices. Net income came to 146.3 billion won (US$136 million) last year compared with 1
The Board of Directors of the International Chamber of Shipping (ICS), representing national shipowners’ associations from 35 nations and over 80% of the world merchant fleet, met in London recently. IMO Ballast Water Management Convention – ICS Still has Serious
“Aberdeen Harbor has a vital role to play in the future of Scotland’s oil and gas, renewable and decommissioning industries.” Plans by Aberdeen Harbor Board to create additional berthing facilities at Nigg Bay have received a double boost
By Karolin Schaps, Reuters Britain urgently needs its oil and gas companies to pay for a new regulatory body to encourage industry collaboration and counter plunging North Sea production rates, a government review, the first since the mid-1990s, said on Monday.
Chinese shipbuilder COSCO Corp (Singapore) Ltd on Monday reported a 71 percent fall in full-year 2013 net profit, due to lower profit contributions from ship building and marine engineering segments. COSCO Corp, a subsidiary of state-owned maritime industry giant China Ocean Shipping (Group) Co
The European outlook for the offshore pipe industry in 2014 is positive, according to a recent report conducted by Tata Steel, a supplier of innovative deep-water pipe line solutions. The study, conducted by Europe’s second largest steel producer, points to high energy demand from Africa