Responding to information circulating, CMA CGM Group states that it has no short term plans to either purchase or long-term charter-in any vessels. The Group has a modern fleet of 408 ships, of which 92 are owned, that enable it to meet the current needs of its customers and provide them with end-to-end service around the world. In today’s economic environment, CMA CGM’s priorities are to reduce its debt and to strengthen its financial position. Looking beyond 2013 and in line with its long-term commitment to driving continuous improvement in fleet efficiency, the Group is looking at various charter projects with a number of shipyards and financial partners. While CMA CGM will pursue these non-binding discussions over the next few months, it has no intention to reach an agreement in the near future.
SeaBird Exploration Limited (BVI) (SBX) has acquired the remaining 50 percent ownership in the Joint Venture entity Sana Navigation Company Limited (Sana) which charters the M/V Northern Explorer from Russian owners on a long term bareboat charter. The purchase price is $25.5m. The Joint Venture is now terminated in all respects. The acquisition of the 50% interest in Sana includes the long term bareboat contract, the liquid cash, other current assets
France Telecom has signed an agreement with Apax Partners to sell 100 percent of the shares of France Telecom Mobile Satellite Communications SA (FTMSC). The completion of the transaction is expected in the near future. FTMSC is one of the world’s largest mobile satellite communications providers, marketing and distributing communications solutions for customers based in areas with limited access to terrestrial telecoms infrastructure
A draft long-term plan for terminal improvements at Horseshoe Bay was presented by BC Ferries president & CEO Bob Lingwood at a public council meeting in West Vancouver. The Horseshoe Bay development plan includes: · An expanded vehicle holding compound to reduce traffic congestion and queuing on the Upper Levels Highway, · A new ticketing/administration building incorporating recommendations from West Vancouver's advisory design panel, · A new parkade with 350 public parking spaces and
Standard & Poor's has revised the outlook on MC Shipping Inc. to negative from stable. At the same time, the company's single-'B' long-term corporate credit rating and single-'B'-minus senior unsecured debt rating were affirmed. The rating on MC Shipping reflects the shipping industry's below-average characteristics, and the company's weak financial profile. MC Shipping is part of the Vlasov Group-a major ship-owning and ship-management group
Port of Goteborg AB president and CEO since 1996, Gunnar Nygren will be stepping down in March 2002. At 60, he is planning to take early retirement. “This is a decision that was triggered partly by my turning 60 but even more so by the fact that the Port is now in a position where the future demands more long-term leadership than I will be able to offer,” comment Gunnar Nygren. He quotes key investments that are under way in the Port of Goteborg
Ultrabulk signs contracts with a Japanese yard for construction of new generation handysize bulkers Denmark-based Ultrabulk has placed an order with a major Japanese ship yard for the construction and delivery of one new generation super ECO-designed handysize bulker of 38,000tdw size for delivery in 2014, with Ultrabulk’s option to extend the order with one additional vessel. The vessel(s) will be equipped with an electronic main engine as well as other equipment and systems which are
Chevron Corp. announced a $5.1 billion capital and exploratory spending program for 1999 and a plan to reduce expenses in 1999 by $500 million. The planned actions will fund the company's economic long-term growth plan and address the need to improve near-term results, given poor current industry conditions. The 1999 capital budget is about eight percent less than projected spending for 1998, but significant spending will continue for promising long-term growth projects in Kazakhstan
BP orders four new Platform Support Vessels to help deliver North Sea strategy The vessels will be deployed to support its West of Shetland (WoS) and Norwegian operations and are be delivered between the winter of 2013 and summer of 2014. The purpose built and highly specified vessels have been designed to provide long term support to BP’s North Sea business and will provide the capabilities BP requires to deliver its strategy more efficiently and safely
Satellite investment program progresses with three launches planned for third quarter; Intelsat EpicNG high performance satellite platform establishes leadership with long-term commitments. Intelsat S.A., the world's leading provider of satellite services, reported financial results for the three months ended June 30, 2012. Intelsat S.A. reported revenue of $638.7 million and a net loss of $84.0 million for the three months ended June 30, 2012
Huntington Ingalls Industries has announced that its Newport News Shipbuilding (NNS) division has officially opened its new Apprentice School, located at 3101 Washington Ave. in downtown Newport News. Apprentices, faculty and staff were joined by Virginia Gov. Bob McDonnell, U.S. Reps
Damen Shipyards Group is set to deliver the fifth Platform Supply Vessel in a series of six to World Wide Supply of Norway. World Opal is a Damen PSV 3300 CD. The first ship, World Diamond, was delivered in July and the last in the series World Sapphire is due to be delivered mid-December.
Shipments of iron ore on the Great Lakes totaled 5.5 million tons in November, an increase of 7% compared to a year ago. The November ore float was also 4.1% ahead of the month’s five-year average, but trailed October by 7.7%.
Marine Propulsion Systems, a business unit of ZF Friedrichshafen AG, shared at the sidelines of Marintec China 2013 that China continues to be a key focus for the company and shared plans to strengthen its footprint in the market. ZF Marine has been in China since 2006 and currently operates a
Royal Dutch Shell plc announced that the company will not move forward with the proposed 140,000 bpd Gulf Coast gas-to-liquids (GTL) project in Louisiana. Shell is a leader in GTL technology, and the company said it has evaluated a number of development options for GTL on the US Gulf Coast
Royal Dutch Shell plc says it will not move forward with the proposed 140,000 barrels per day Gulf Coast gas-to-liquids (GTL) project in Louisiana and will suspend any further work on the project. Shell, says it is the industry leader in GTL technology
The Shipbuilders Council of America (SCA) today announced the launch of SOS: Save our Ships, a national campaign focused on bringing attention to the devastating and unintended effects sequestration and budget uncertainty continue to have on the United States Navy and naval services
The 488-meter-long-hull of Shell’s Prelude floating liquefied natural gas (FLNG) facility has been floated out of the dry dock at the Samsung Heavy Industries (SHI) yard in Geoje, South Korea, where the facility is currently under construction
Among the latest listing of US Department of Defense contracts are those for the dredging of Newport News Navigation Channel, examination of littoral combat ship (LCS) core class shipyard services; and for the leasing of a submersible vessel, as follows: Dredging contract
British Columbia’s first liquefied natural gas (LNG) proposal at Grassy Point near Prince Rupert has filed its export application with Canada's National Energy Board (NEB). "Aurora LNG is moving forward with their plans to export B.C
The Newfoundland and Labrador Provincial Government has awarded Damen Shipyards Group an order for a state-of-the-art, 80 m Ice Class ferry, which will operate on the Fogo Island-Change Islands service. Scheduled for delivery in September 2015
Diana Shipping Inc. has time- chartered out the 75,336 dwt MV Triton to Bunge S.A., Geneva, at a gross charter rate of US$11,000 per day, minus a 5% commission paid to third parties, for a period of up to minimum September 1, 2014 to maximum October 31, 2014
With new experimental facilities under construction at HR Wallingford, the foundations are in place for another two decades of successful collaboration between HR Wallingford’s Professor Richard Whitehouse and University College London’s Professor Richard Simons.
Planet Ocean inform that they are supporting the UK Met Office and Plymouth Marine Laboratory to gather real-time Met-Ocean Data with their AXYS Watchman (WM-500) data acquisition and telemetry systems. The WM-500 can be configured to control a large variety of
'USNS Mercy' had been ordered to prepare for sea and a deployment to support disaster relief efforts as part of Operation Damayan, but that order has been rescinded following a dramatic improvement in the provision of other medical facilities in the Philippines.