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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


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


Can Fracking Waste be Carried on the Water?

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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


Malaccan Ports to Become Specialised Hubs

Strait of Malacca. Map: Google

 Plans are underway to convert seven Malaccan ports into specialized hubs for various sectors to spur the state's economic development, reports the Star.    The Malacca Port Development Masterplan is expected to increase investments and economic activity by creating jobs in the


Korean Shipyards in Troubled Water

Photo: Hyundai Heavy Industries

 Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg.   The Big Three shipbuilders in South Korea ventured into offshore oil rigs starting around


Next Wave of FLNG Projects on the Horizon

There will be significant growth in both investment and activity in the FLNG market over the next seven years, with Douglas-Westwood (DW) forecasting total expenditure of $58.3 billion in its new market report. Sixty-one percent of this spend is attributed to liquefaction infrastructure


Shanghai 6th Best Shipping Center Globally

Photo: Xinhua

 Shanghai has moved up the rankings of the world’s top shipping centers to sixth place, surpassing Dubai thanks to Free Trade Zone regulations and the Belt and Road Initiative, according to a report and index looking at the importance of the world’s key shipping centers.  


Impact of Financial Crisis on Greek Shipping

 Image: Reinventing Greece Media Project

 Though international analysts like Morgan Stanley said that the Greek crisis will not have a direct impact on shipping companies, Greek shipping companies listed on U.S. stock exchanges sank on Monday.   Greeks have said No to austerity terms imposed by international creditors


Maersk Line Orders Nine Boxships in $1.1 bln Deal

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Maersk Line, the world's largest container shipping company, said on Wednesday it has ordered nine 14,000 twenty-foot equivalent units vessels from Hyundai Heavy Industries in a deal worth $1.1 billion. The vessels will join the fleet in 2017 under a Singaporean flag, said Maersk Line


Greece Hikes Shipping Tax

Image by Polish Embassy in Athens

 Greece has submitted a fresh proposal which includes hiking shipping taxes and to gradually remove the industry's special tax status to the EU in a bid to secure a 53.5 billion euro ($59bn) rescue package to help cover its debts until 2018 and stave off bankruptcy.  


Safety and the Law Collide on the Water

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We all can agree that the safety of our employees is critical; if not the most important concern of each of our companies. Our marine-based employees face day-to-day perils that are not encountered by the average American office worker. It is our duty to do everything that we can to ensure that


$1.7 billion NOL Up for Sale. Will Hapag-Lloyd Buy?

Photo: NOL Group

 Singapore Sovereign Wealth Fund Temasek Holdings has put Neptune Orient Lines (NOL) up for sale, says a Wall Street Journal (WSJ) report.   The WSJ reported that Temasek was in talks with one buyer in recent months but the two sides could not agree on a price for the loss-making


Hapag Lloyd IPO Valued at Over $5.5 Bln

Photo: Hapag-Lloyd AG

 A flotation of a minority stake could value the world's fourth-largest shipping group German-Chilean Hapag-Lloyd AG at more than 5 billion euros ($5.5 billion) and could take place as early as autumn.   Hapag-Lloyd AG has already mandated investment banks Deutsche Bank AG


Philippines Opens up Shipping Sector

Philippine President Benigno Aquino III. Photo from the official Facebook page of the government

 Philippine President Benigno S. C. Aquino III has signed off on legislation to open up the shipping sector and encourage more competition in the cloistered industry, report AFP.   He also signed into law a measure that aims to level the country’s playing field


Piracy Attack on Small Tankers Continues - ICC

Photo IMB Piracy Reporting Center

  Published today, a new report from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) highlights a continuing trend in South East Asia in the hijacking of small coastal tankers by maritime pirates, averaging one attack every two weeks.


Halliburton Seen Facing Antitrust Issues on Baker Hughes Deal

Oilfield services provider Halliburton Co's acquisition of smaller rival Baker Hughes Inc is facing resistance from U.S. regulators who are concerned that the deal could hurt competition, Bloomberg reported.   Justice Department lawyers reviewing the proposed $35 billion deal are worried


Continental Delivered to Dorian LPG

  Dorian LPG Ltd. an owner and operator of modern Very Large Gas Carriers (VLGC), reported today that it took delivery of the ECO VLGC Continental from Hyundai Samho Heavy Industries. Continental is Dorian LPG's seventh newbuilding delivery and will be operated in the Helios LPG Pool


Vale Coal Stacker Collapses at Mozambique Port

A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale, which is aiming to start coal shipments in the third quarter of this year, three sources told Reuters on Monday. The giant piece of machinery






 
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