The National Shipping Company of Saudi Arabia (Bahri) sells 'Saudi Diriyah' for recycling. The sale of the general purpose cargo vessel raised the sum of SAR. 30,257,136 generating a net gain of SAR 19,523,391 after deducting its book value and all expenses associated with the sale. Bahri mention that they had previously announced the signing of six ship building contracts to acquire six new general cargo vessels to replace the older fleet in this sector which have completed their useful life. In addition to the sale of Saudi Diriyah, Bahri had announced on 19th January, 2013 the sale of Saudi Abha, the first of the General Cargo ships. Two sister ships remain to be sold in sequence coinciding with the delivery of the remaining new builds.
Bahri announce the Interim Consolidated Financial Results for the 12-month period ended 31st December, 2012. The National Shipping Company of Saudi Arabia (Bahri) report that Net profit, for the 12-months totaled SAR 500.4 million compared to SAR 287.7 million for the corresponding period for the year 2011, an increase of 74 %. However, Net profit, for the fourth quarter was down and totaled SAR 73 million compared to SAR 113
The Pentagon is widely expected to clear the proposed $2.1 billion merger between the two remaining U.S. builders of nuclear submarines and aircraft carriers, eliminating prospects of any future competition between former rivals. Defense Department officials recognize the peculiarities of the situation faced by General Dynamics Corp. and Newport News Shipbuilding Inc., according to antitrust lawyers, industry consultants and Wall Street analysts. With only one major customer -- the U.S
The PVA convention General Session, scheduled for Monday, February 15, from 9:00 a.m.-10:00 a.m. will feature Jim Zitek with his presentation, “Economic Conflict: Are We on the Road to Recovery in 2010?” Jim Zitek, an expert on finance and the economy will help provide clarity in a world of economic confusion. He will help eliminate your frustration by exploring the three major approaches economists use to analyze the economy
Wilhelmsen Ships Service has appointed a new General Manager for Canada. Brian Philip joins the leading worldwide ships service network. He will drive what is expected to be significant growth in Canada by developing and strengthening the company’s ability to deliver a full range of Wilhelmsen Ships Service’s offers. Brian brings with him extensive experience from the logistics industry, where he has held several key commercial management positions
WASSP Ltd has announced the expansion of the company’s senior management with the appointment of Ian McDonald as General Manager. The role is a newly created position and will see Mr McDonald overseeing WASSP’s international sales & marketing strategy for their multibeam sonar products. Originally from Glasgow, Scotland, Mr McDonald has vast experience in the marine and offshore sector and has worked with over 300 technology and life science companies and research
The board of directors of General Dynamics elected two new vice presidents of the corporation: Frederick J. Harris, 60, who will succeed Richard H. Vortmann as president of subsidiary National Steel and Shipbuilding Co. (NASSCO); and Chris Marzilli, 46, who will succeed Mark A. Fried as president of business unit General Dynamics C4 Systems. Harris and Marzilli will assume their new positions and become vice presidents of the corporation on January 1.
EXXONMOBIL Marine Fuels (EMMF), a world leading supplier of marine fuels, has undertaken a strategic reorganisation and strengthening of its bunkering team worldwide with effect from January 1, 2004. Dan Bryce is to leave his post as EMMF Americas General Manager to become Adviser, LNG/PGS Business Planning and Support, ExxonMobil Gas and Power Marketing, based in Houston. Meanwhile, Joe Rud, currently EMMF Manager for
General Dynamics NASSCO Awarded $104 Million Contract Modification for USS Comstock (LSD 45) Modernization. General Dynamics NASSCO has been awarded a $104 million contract modification from the U.S. Navy to renovate and modernize the dock landing ship USS Comstock (LSD 45). General Dynamics NASSCO is a business unit of General Dynamics (NYSE: GD). General Dynamics NASSCO received funding to begin modifications to USS Comstock (LSD 45) in April 2012 and began performing
General Dynamics Advanced Information Systems was awarded a contract by Austal USA to be the Platform Systems Engineering Agent (PSEA) of Littoral Combat Ships (LCS) 14 and 16. These are the fifth and sixth ships of the Independence-variant LCS to be ordered by the U.S. Navy under a 10-ship block buy contract awarded in December 2010 to Austal USA. General Dynamics Advanced Information Systems is a business unit of General Dynamics.
General Dynamics Canada is installing an adjunct processing system on three VASCO DA GAMA-class frigates of the Portuguese Navy. Designed by General Dynamics Canada, the ECLIPSE adjunct processor provides the in-service AN/SQS-510 sonar systems with enhanced operational capability to detect
The Board of Commissioners of the Port of New Orleans unveiled a new modern, streamlined logo today to kick-off the 6th annual Critical Commodities Conference. The rebranding effort represents the culmination of work of an internal committee consisting of staff from a variety of port
Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda. The final dividend for 2013 of $0.50 per common share recommended by the Board of Directors on February 7
Company will open new crane distribution center WireCo WorldGroup Inc., the world’s leading producer and marketer of specialty steel ropes and high synthetic ropes, announced today that WireCo has acquired the assets of Endenburg B.V., a Netherlands-based company
Today in U.S. Naval History: April 7 1776 - Continental brig Lexington captures British Edward 1917 - Navy takes control of all wireless radio stations in the U.S. 1942 - Navy accepts African Americans for general service 1945 - Carrier aircraft defeat last Japanese Navy sortie (Battle
Nordic American Tankers Limited (NAT) today announced an underwritten public offering of 10 million common shares pursuant to the company's effective shelf registration statement. Morgan Stanley & Co. LLC is acting as the bookrunning manager for the offering and Global Hunter Securities
Indonesia's General Election will take place tomorrow, Wednesday, April 9, and the day will effectively be a public holiday for most government institutions and subcontractors. Terminals and port activities, however, will not be affected and will be working as normal
ADEC Cruise Ship Program The Alaska Department of Environmental Conservation (DEC) Commercial Passenger Vessel Environmental Compliance Program is proposing to issue a 2014 Large Commercial Passenger Vessel Wastewater Discharge General Permit (Permit number: 2013DB0004)
Inchcape Shipping Services (ISS), is advising of a potential general strike in Argentina all day Thursday, April 10, 2014. The Union backed strike will see stoppages in various ports by truck, bus and train drivers, pilot boat masters, linesmen, tug boat operators and stevedores.
Nordic American Tankers Limited announced today that, in connection with its previously announced public offering of 12,000,000 common shares at a public offering price of $8.62 per share, the underwriters exercised in full the option granted to them by the company and purchased an additional 1,800
Libya's western Zawiya oil terminal has been closed by protesters preventing some oil product tankers from discharging, a government statement said on Friday. Local citizens demonstrating against the General National Council, the country's parliament
Harley Marine NY, a subsidiary of Harley Marine Services, took delivery of the river style push-boat, HMS Justice, from Conrad Shipyard of Morgan City, Louisiana. HMS Justice is the fifth vessel in this class and joins the New York fleet of two tugboats and four double hull petroleum barges
Parsley Energy Inc made public its plan to raise up to $400 million in an initial public offering of Class A common stock. The oil and natural gas company filed confidentially with U.S regulators for the proposed IPO in December.
Nordic American Tankers Limited (NAT) informs that its offering of 12,000,000 common shares, at a public offering price of $8.62 per share, was exercised in full by underwriters, and in accordance with the option granted to them by the Company they purchased an additional 1,800
Specialist transport insurance provider, TT Club has appointed a network partner in The Philippines. Del Rosario Pandiphil Inc. becomes the seventh such partner that the international logistics and freight handling insurer has in the Asia-Pacific region