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.
Offshore Patrol Vessels Middle East 2014 examining maritime security challenges in region, world As policy leaders wrapped up the Manama Dialog, an international security conference in Bahrain, maritime and naval leaders commenced their meetings in Abu Dhabi to discuss practical implementation
Nothing stirs the maritime pot like new regulation, and coming soon to you (in less than a month) is the new iteration of the Vessel General Permit (VGP). The VGP applies to vessels operating in a capacity as a means of transportation, that have discharges incidental to their normal operations
KiwiRail confirms that salvors Seaworks have successfully recovered the ferry Aratere’s propeller, which was lost from the ship when the shaft fractured on November 5, 2013 outside the Tory Channel. “The propeller was retrieved from a depth of around 120 meters and approximately two
Crowley Maritime Corporation’s liner services group has added 537 new refrigerated (reefer) cargo containers to its fleet of equipment in an accentuated effort to serve the growing needs of its produce customers in Central America, Puerto Rico and the Caribbean
"World Shipping (China) Summit 2013" held in Ningbo, focused on the theme 'Responding to New Realities' with Hong Kong-based terminal & shipping group China Merchants Holdings International Co. (CMHI) acting as its special sponsor in conjunction with COSCO.
Seaspan Shipyards today released the following statement in response to the findings of the Auditor General of Canada on the National Shipbuilding Procurement Strategy (NSPS): “We are pleased to receive, and support the findings of the Auditor General, in particular
After more than 30 years as founders and owners of Global Diving & Salvage, Inc., Tim Beaver and John Graham continue to remain excited about the future of the company. This month, they announced the newest chapter in Global’s history; Devon Grennan, President for the past four years
The Canadian Association of Defence and Security Industries (CADSI) confirms industry support for the long-term vision of government following release of the Auditor-General's report on shipbuilding procurement strategy. "Today's report by the Auditor-General on the National
Peruvian Direción de Hidrografia y Navegación has chosen SevenCs' S-63 Encryption Software to encrypt Electronic Navigation Charts (ENC) S-57 data as recommended by the IHO S-63 data protection scheme. It is probably not widely known that ENCs are not excluded from copyright
Stephen Hammond, Parliamentary Under-Secretary of State for Transport, United Kingdom, welcomed delegates to the 28th IMO Assembly, the Organization's highest governing body, on behalf of the host Government. In his opening address
Aecon Group Inc. announced that it has completed its previously announced public offering of $150 million aggregate principal amount of 5.5% convertible unsecured subordinated debentures due December 31, 2018. The offering of debentures was completed on a bought deal basis through a syndicate
Stanford Marine, a regional offshore marine business, announced today from its Dubai headquarters the delivery of the latest addition to its fleet. The Stanford Hawk, a 75m diesel electric platform supply vessel (PSV) is one of two sister vessels being built at the Fujian Mawei shipyard in
General Dynamics Bath Iron Works, Bath, Maine, is listed by the US Department of Defense, as having been awarded a $73,913,646 Navy contract modification to previously awarded contract (N00024-12-C-4311) for DDG 51 and FFG 7 class warship integrated planning yard services.
Following another strong year for the company, President and CEO, Doyle Taylor, has promoted his Vice President of Sales, Allen Walker, to Vice President and General Manager of the Monico Monitoring, Inc. Taylor brought Walker on board in September of 2012 as Vice President of Sales to oversee
Recent orders for Liebherr Mobile Harbor Cranes (LHM) from the Middle East include two LHMs and the first LiSIM LHM550 unit for the region, paving the way for state-of-the-art crane operator training. Additionally, one Liebherr Reachstacker has been delivered to the region.