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 Information Technology, a business unit of General Dynamics, has implemented a NextGen-911 emergency service solution for Morgan County, Ohio. The NextGen-911 solution enables Morgan County to easily accept emergency information from a variety of sources and provides first responders with faster, more accurate details to aid in response. Morgan County's NextGen-911 system is one of the first to be compliant with the National Emergency Number Association's (NENA) i3
Governments attending the International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC) this week have made real progress towards agreeing solutions to major issues that have previously impeded ratification of the IMO Ballast Water Management Convention
On October 13 the Gazprom leadership acceded to Alisher Usmanov's request for releasing him from his position as Director General of Gazprom Investholding. At the meeting Alexey Miller, Chairman of the Gazprom Management Committee thanked Alisher Usmanov for many years of conscientious
Natural gas-fueled engines, touted as a clean, low-cost alternative to diesel, continue to struggle for acceptance in the U.S. transportation sector despite a surge in gas production that has sent the alternative fuel's domestic price plunging.
Thrustmaster of Texas, a manufacturer of commercial marine propulsion products, signed a deal last week to expand its Houston-based production facility by 100,000 sqft (93,000 sq m). Thrustmaster said the multimillion dollar investment has been in the making for two years and is scheduled for
Intercargo has appointed David Tongue as its new Secretary General. Mr. Tongue, took up the role on 8 October, following confirmation of the appointment by Intercargo’s Executive Committee which met in London on 7 October. Mr. Tongue brings with him a wealth of maritime experience
Mr Lui Tuck Yew, Minister for Transport, Singapore, will conduct SGMF’s Global Launch on Stand No. 33 on Wednesday 15th October 2014 at 10.15am in connection with SIBCON 2014 confirms SGMF’s Brand, Marketing and Membership Manager, John Saunders
Former President and Chief Operating Officer of Darden Restaurants Joins Norwegian Cruise Line Norwegian Cruise Line Holdings Ltd. announced today that Drew Madsen has joined the company as president and chief operating officer of Norwegian Cruise Line
Turkey today, October 14, ratified the Ballast Water Management (BWM) Convention 2004, bringing the number of Contracting States to 43 countries, representing approximately 32.54% of world merchant shipping tonnage. 35% of global tonnage will trigger entry into force of the Convention
The executive committee of Euronav NV announced that it has signed a new $340 million senior secured credit facility led by ING Bank NV acting as sole Bookrunner and together with Citibank NA, Danish Ship Finance A/S, DnB Bank ASA and KBC Bank NV acting as Mandated Lead Arrangers whilst Belfius
General Dynamics C4 Systems’ cyber-defense products team recently delivered the 100,000th TACLANE®-Micro (KG-175D) in-line network encryptor to the U.S. Navy’s Space and Naval Warfare Systems Command (SPAWAR). SPAWAR develops
Denmark and its maritime industry are lobbying to get the top position at the International Maritime Organization, a United Nations body that wields great influence over global shipping through its regulations, industry sources said. The current secretary general of the IMO, Koji Sekimizu
Crowley christens new ocean class, DP2 tugboat, Ocean Sun, in Louisiana As part of the company's new vessel build program, Crowley Maritime Corp. christened the latest of its four tugboats in the ocean class series, Ocean Sun, today in Lake Charles
The Supreme Court has ruled in favor of the Costa Rican Government and APM Terminals in an appeal filed by the port workers union against the 33-year concession contract for the new Moin Container Terminal (TCM) in Limon on the Caribbean coast of Costa Rica.
The regional Environmental Center of the Northern Fleet will be established in the Arctic in the near future. The news agency TASS reported the news with reference to the Deputy Russian Defense Minister Army General Dmitry Bulgakov.
On the past October 10th was held in Alesund (Norway) the baptism ceremony of the Ronja Polaris vessel, belonging to the Norwegian ship-owner Sølvtrans and built by Astilleros Zamakona S.A., group member of Zamakona Yards. Although the vessel was delivered in October last year