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Steady Growth

Jee Announces Expansion for UK Growth

Trevor Jee

Jee Ltd, an indepenedent multi-discipline engineering and training firm, has announced further plans for expansion to accommodate the company’s growth strategy and the creation of 150 new jobs in the UK. The company which provides a complete range of subsea engineering expertise also announced the appointment of new board members Andrea Haywood, Finance Director, and Jenny Matthew, Director, who will help drive steady growth plans, with the aim of increasing turnover from £5million to £20million in the next 4 years. Jee managing director, Trevor Jee said: “The Jee team, which is spread between Aberdeen and Tonbridge, near London, has already outgrown the current Aberdeen office, having doubled in size this year. As part of a carefully managed growth strategy, we have plans in place to expand the Aberdeen team into new Westhill premises and open an engineering office in Central London, with the potential of creating 40 jobs in the UK by the end of 2013 and a total of 150 UK jobs over the next 4 years.    “Our biggest growth area has been in subsea projects, a large focus for 2012 has been adding to our subsea engineering team, building on the wealth of knowledge the company already possesses as our client portfolio rapidly increases in this area. This recruitment drive will carry on into 2013


Denison Yacht Sales Acquires Generation Marine

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Industry Leader Continues Strategic Path of Growth. Denison Yacht Sales is pleased to announce its acquisition of Generation Marine, a Fort Lauderdale-based yacht brokerage and service company.  Generation Marine's reputation in the trawler and explorer yacht categories helps strengthen Denison's position in this segment of the yachting market. "We feel strongly that the trawler and expedition markets will continue their steady growth," said Bob Denison


Moody's May Upgrade Royal Caribbean

Moody's Investors Service placed the long term debt ratings of Royal Caribbean Cruises Ltd. on review for possible upgrade based on its improved debt protection measures, and the steady growth in earnings and cash flow as well as its reduced need for debt to fund capital expenditures following its equity issuance. Moody's review will focus on the impact of Royal's extensive ship building program on debt protection measures


IBIA Gains IMO Consultative Status

The International Bunker Industry Association (IBIA) gained Consultative Status at the International Maritime Organization (IMO). IBIA's status has been confirmed by IMO's Council after IBIA received formal recommendation from the Marine Environment Protection Committee (MEPC) at its meeting in 2005. Don Gregory, chairman of IBIA, says: "IBIA has rapidly developed in stature and influence and has enjoyed steady growth in membership since its formation 10 years ago


Globalization Keeps Future Bright for Shipping

  By Rich DeSimone     The economic storm signals are all around us: the wild swings in stock markets globally, the contraction of credit availability worldwide and the frequent use of the dreaded “R” word. Is the United States headed for a deep recession? Is a recession already under way? Will the slowing U.S. economy drag the rest of the world’s countries into recession as well?


Laid-Up Container Ships

A sharp contraction in world trade has idled more than 200 container ships, threatening the survival of many companies, according to The Journal of Commerce. "The slump in container shipping appears certain to extend into 2010 or beyond. Some companies won't survive," said Joseph Bonney, editor-in-chief of The Journal of Commerce. Carriers operating from Asia to Europe, the world's busiest container trade route, are expected to lose up to $5b this year


MSC Europe Experiencing Steady Growth Stream

MSC (Europe) Ltd., the European subsidiary of Maritime Services Corporation, Hood River, Ore. is currently handling various projects throughout the U.K. and Europe, mainly a $2 million conversion of a fast ferry into a casino vessel for Israeli-based Athissa Shipping. MSC provided ship units, project management and fitters for installation of duty free and other shops onboard Fred Olsen's MV Black Watch. The company also installed galley modifications and waste handling equipment onboard


Aker Solutions Boosting Subsea Capacity

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International oil service group Aker Solutions is preparing for major growth by investing NOK 500 million (USD 87 million) in its subsea business.   This investment is set to double the capacity of its manufacturing plants in Tranby, Norway, and Port Klang, Malaysia. In addition, a new service base will also be established in Malaysia. The subsea segment of the oil and gas industry is growing rapidly and is expected to develop exponentially over the next few years


Chinese Shipbuilder Wins 2012 Award

Luan Xiao Ming, Chief Operating Officer and Executive Director of China Rongsheng Heavy Industries: Photo Rongsheng

China Rongsheng Heavy Industries wins the 'Seatrade Global Performer 2012' award China Rongsheng Heavy Industries, a privately owned enterprise from China, was awarded the “Seatrade Global Performer 2012” at a ceremony in London.
 Mr. Luan Xiao Ming, Chief Operating Officer and Executive Director of China Rongsheng Heavy Industries, received the award on behalf of the Group. Mr. Luan said, “China Rongsheng Heavy Industries was very honoured to receive this prestigious


Japanese Light Industries Look to Expand in Middle East

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A high-level delegation from Japan External Trade Organization (JETRO) recently visited Dubai World Central, the world’s first purpose-built aerotropolis, to take a closer look at the state-of-the-art infrastructure and facilities available to Japanese companies seeking to establish and expand their business operations in the Middle East.  The visit of the Japanese delegation is in line with DWC’s strategy of attracting leading international companies to commence


New Unithai Shipyard to Meet Offshore Demand

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Thailand’s Unithai Shipyard and Engineering said it has expanded operations to support the steady growth of offshore operations. The company has opened a new branch in Songkhla province, one of the busiest offshore markets in the region.


China Now World's Largest Liquid Fuels Importer

Graph courtesy of USEIA

U.S. Energy Information Administration, Short-Term Energy Outlook, March 2014 reveals that in September 2013 China's net imports of petroleum and other liquids exceeded those of the United States on a monthly basis, making it the largest net importer of crude oil and other liquids in the world


Growth for the Swedish Club

Lars Rhodin

The Swedish Club announced to its board today a significant increase in financial strength, with a positive underwriting outcome and investment earnings leading to a surplus of $17 million overall - a testament to the strategy of diversification and focused business development


Hempel Says 2013 Brought Record Profits

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The Hempel Group announced it delivered a record net profit in 2013, placing it in a strong position to achieve its targets through a combination of organic and external growth. The Hempel Group’s continued focus on efficiency and profitability ensured it delivered a net profit of


Saltire Reports Global Growth, Turnover Increase

Strong global growth contributes to increase in turnover for Saltire Energy

Saltire Energy, supplier of drilling tools to the offshore oil and gas industry, has posted its year end to June 30, 2013 results with turnover up more than 50% from £21.5 million to £32.9 million. Operating profit for the year has also risen from £14.1 million to £18


Odfjell Records Steady Q3 Earnings

EBITDA of $37 million is reflecting stable earnings both from chemical tankers and tank terminals in the third quarter. For the chemical tankers business, activity over the summer and through the third quarter held steady and was in line with the second quarter on both contract nominations and


MOL President Calls for Focused Growth in 2014

Koichi Muto

MOL Group president Koichi Muto issued a New Year message that reflects on 2013 while rallying for company-wide growth in 2014 as MOL prepares for 130th anniversary. “Looking back at 2013, Japan’s economy finally started to offer a glimpse of hope for pulling out of the deflation


Signet Poised for Growth

Joseph W. Dahl to Vice President & General Manager of SS&R.

Signet Maritime Corporation is investing $7.2 million in infrastructure improvements to their Pascagoula, Mississippi shipyard, Signet Shipbuilding & Repair (SS&R) to support an increased workload and future growth.   In addition to the recent acquisition of the 150-ton crawler crane


STATS Group Adds New Directors

STATS Group directors, Dave Vernon, left, and Dale Millward

Pipeline engineering specialist STATS Group said it has appointed two new directors as part of a strategy to increase its international presence in key oil and gas regions. The newly created roles see Dave Vernon promoted to Director of Isolation Services and Dale Millward promoted to Director


GES Gross Revenue Up 27% in 2013

Mr. Mustapha Kawam

Globe Express Services (GES), one of the world’s top 100 global logistics providers, has announced that its gross revenue for its UAE operations in 2013 has increased by 27 percent compared to 2012. Profit was buoyed by the rapid growth of, and positive outlook on


Oceanteam Buys Out KCI Design Engineers

File photo CCL

Norway-based Oceanteam Shipping says it has exercised its option to buy the remaining 30% shares of KCI design engineers, a multi-discipline engineering company, employing over 150 engineers with offices in Schiedam, The Netherlands and Hamburg, Germany.


Oil Holds around $110

By Shadi Bushra, Reuters   Brent crude oil steadied around $110 a barrel on Monday, resisting sharp declines in some other risk assets on news of further supply losses in Africa and expectations of revived oil demand growth. Libyan oil output plunged further over the weekend


Cruise Industry Poised for Global Growth

Norwegian Getaway

The global cruise industry and its fleet of increasingly large, ultra-modern ships is projected to continue its steady growth in 2014, powered by growth overseas, particularly in the German market, as well as the adoption of faster, stronger and generally better satellite communication technology


Members Boost London P&I Club Tonnage

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The London P&I Club has increased its membership by almost two million gross tons over the past year. This increase reflects the entry of further tonnage with the club by existing members, and the addition of new members from China, Greece, Singapore, Turkey, and the U.K.


Aegean Profitable in 2013 Despite Bunker Market Challenges

Bunkering: File photo CCL

Ship bunker suppliers Aegean Marine Petroleum Network release financial and operating results for the fourth quarter ended December 31st, 2013, registering a third consecutive profitable year. Quarterly & full year highlights Recorded sales volumes of 2,384


 
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