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
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
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
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
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
Huntington Ingalls Industries’ (HII) board of directors has elected Kellye Walker to serve as corporate vice president and general counsel and Charles R. “Chuck” Monroe Jr. to serve as corporate vice president, associate general counsel and secretary. These organizational changes are effective Jan. 12, 2015. As corporate vice president and general counsel, Walker will report to HII President and CEO Mike Petters and will have overall leadership responsibility for
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
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.
The Rotterdam (Netherlands)-based neutral consolidator FPS Famous Pacific Shipping has launched a new, weekly ocean LCL service from Rotterdam to St Petersburg (Russia) and vice versa for general groupage cargo. The service provides an alternative to the traditional routing via Vilnius
The Indonesian government is expected to start operation of a new online system at the country’s four major ports in September this year. The operation of the long awaited Inaportnet system, which will allow traders to request clearances and permits online to move cargoes will
With global focus on the mariner courtesy of MLC2006, reinforced by a number of high profile catastrophic maritime casualties that are directly linked to “the human factor,” preliminary results from the Paris MoU should be disturbing at the least.
With 87 units delivered in 2014, Liebherr offshore cranes achieved a new per year delivery record, more than doubling its delivery numbers from 2012. And according to Liebherr, well filled order books allow for an optimistic 2015 forecast despite a generally unstable world economic development.
Dry bulk shipping companies Golden Ocean Group Limited (GOGL) and the listed dry bulk shipping company in John Fredriksen's business empire Knightsbridge Shipping have chosen March 26 to hold a special general meeting and finalize the merger talks.
The Nippon Kaiji Kyokai (ClassNK) has announced the establishment of its “Common Structural Rules for Bulk Carriers and Oil Tanker” (Rules for the Survey and Construction of Steel Ships Part CSR-B&T) on 27 February 2015
The Panama Canal Authority (ACP) is holding a public hearing today on a proposed toll structure change. The proposed restructuring, which the ACP Board of Directors approved on December 24, calls for each ship segment to be priced based upon different units of measurement
The Long Beach Board of Harbor Commissioners this week appointed port industry veterans Michael Christensen and Glenn Farren to newly created management positions to enhance cargo flow and service at the Port of Long Beach. Christensen
General Maritime Corp, which operates crude oil tankers, will acquire Navig8 Crude Tankers Inc in a stock-for-stock deal, the two companies said in a statement. A newly formed unit of General Maritime will acquire all of Navig8 Crude's common shares to form Gener8 Maritime Inc.
JAXPORT’s Board of Directors today unanimously approved an expanded, long-term lease with Crowley Liner Services Inc. Under the agreement, Crowley will relocate its Puerto Rican service from its private terminal along Jacksonville’s harbor to JAXPORT’s Talleyrand Marine Terminal
Joe McGladdery, a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the LNG charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and
The International Chamber of Commerce (ICC) has become the Official Global Partner of the World Corporate Golf Challenge (WCGC), the largest and longest running corporate amateur golf event. The new venture is set to expand international participation, branding and media attention
Seaspan’s Victoria Shipyards announces retirement of vice president and general manager, appoints successor Seaspan’s vice president and general manager of Victoria Shipyards Co. Ltd., Malcolm Barker, will retire Spring 2015, following more than 21 years with the company.
Stolt-Nielsen Limited has closed a $250 million private placement with American International Group (AIG). The private placement has a term of 10 years and is secured by the Stolt-Nielsen’s terminal in Houston. Proceeds from the notes will be used to repay existing
German liner company Hamburg Sud said it expects to seal the acquisition of the container shipping operations of Chilean shipping group Compania Chilena de Navegacion Interoceanica [CCNI] by the end of March. Earlier, Hamburg Süd has confirmed the long-awaited signing of its