According to a May 3 report from The Associated Press, Northrop Grumman Corp. said its first-quarter profit increased 20 percent, led by strong growth in shipbuilding. Business improved for nearly every sector in which the company operates, except for a 1% decline in information systems. (Source: The Associated Press)
Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk. He brings a wealth of leadership experience in both commercial and technical management, having amongst other positions headed Maersk Tankers fleet management for 9 years. Before that he held both operational and commercial leadership positions in Maersk Tankers, Maersk Contractors and Maersk Drilling.
British shipping firm Peninsular and Oriental Steam Navigation Company said that overall trading conditions at its core ports, ferries and logistics businesses had remained firm in the fourth quarter. The company, which de-merged its cruise business last year, highlighted strong growth in its ports unit but said trading in the ferry business had been "reasonable" despite higher fuel costs. Contract logistics had a good fourth quarter though the weakness of the euro hurt unit loads
Chantiers de l´Atlantique, ALSTOM Group, has awarded ABB Marine a contract to supply the electric propulsion system for a new 153,000 cu. M. LNG carrier, owned by Gaz de France. The vessel will be built in France by Chantiers de l´Atlantique and delivered in 2005. The supply of medium voltage power systems to LNG carriers has been a strong growth area for ABB. According to Martinus Brandal, head of ABB´s global Marine business, “In the last three years
Royal IHC (IHC) has reached an agreement to sell 100% of its shares in its subsidiary IHC Sealing Solutions to new owners Willem Steenge, who as CEO is partly responsible for the strong growth of IHC Sealing Solutions in recent years, and Rabo Participaties (RaPar). The sale enables IHC to strengthen its focus on its core business: offering integrated innovative vessels, advanced equipment and life-cycle support to the dredging, wet mining and offshore construction industries
Overall cargo volumes at the Port of Los Angeles increased nearly 11 percent in May compared to the same period last year, marking the busiest May in the Port’s 109-year history. Total volumes registered at 770,409 Twenty-Foot Equivalents (TEUs), with container growth of 8.7 percent for the first five months of 2016 compared to last year. “The strong growth both on the import and export side is encouraging as we continue to explore ways to improve supply chain efficiencies
Douglas-Westwood Limited and Infield Systems will shortly be releasing the new third edition of its World Floating Production Report,covering the period 2003-2007. There are currently 165 prospective installations identified by the Infield database for this 5-year period. These prospects include FPSOs, production semi-submersibles, TLPs and spars, along with production barges and FSOs. The indications are that the floating
Throughput figures for the port of Rotterdam continue to show strong growth. In the first 9 months of this year, 277 million tonnes of cargo were handled, 4% more than in the same period of 2004. Growth is above the prognosis for this year as well as the expectations for the longer term, of 2–3 %. Container handling is doing even better with +14%. In weight, container handling went up from 61 million tonnes in 2004 to 68 million tonnes (+12%)
Over the last years Schottel has enjoyed a strong growth in North America as well as in Latin and Central America. The “Schottel Fleet“ is growing rapidly and new facilities are needed. Schottel Inc.’s main office in Louisiana has recently moved from Harahan to James Business Park in St. Rose where larger facilities can store more spare parts and overhauls being performed more efficiently. The new address: Schottel Inc., 190 James Drive East, Suite 100, St. Rose LA. 70087
EIA's AEO2015 projects that U.S. energy imports and exports come into balance, a first since the 1950s, because of continued oil and natural gas production growth and slow growth in energy demand The Annual Energy Outlook 2015 (AEO2015) released today by the U.S. Energy Information Administration (EIA) presents updated projections for U.S. energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High Oil Price
Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for a floating storage and regasification unit (FSRU) project in Montevideo, Uruguay.
A steep rise in refinery capacity in the Middle East, the world’s crude oil production hub, will diminish oil trade growth and with it prospects for tanker shipping, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry.
DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will see the start of a barren period for the offshore OFS and OFE sectors.
Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends, but strong growth in earnings. Kongsberg had operating revenues of 4.13 billion Norwegian crowns ($502
While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the acquisition of the activities of a global leader in
The latest Container Shipping Forecaster from Maritime Strategies International (MSI) makes a more optimistic forecast on the demand side. Though its supply-side predictions are broadly aligned with those of Drewry and Alphaliner
Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts. "Even as oil rallies, analysts have barely nudged up their price forecasts as they worry that crude's recent gains
International Registries, Inc. and its affiliates (IRI) provide administrative and technical support to the Republic of the Marshall Islands (RMI) Maritime and Corporate Registries. The RMI Maritime Registry has surpassed another significant fleet milestone
According to Clarksons Research, the world fleet has experienced a sustained period of growth during the last decade, with owners based in the Asia/Pacific region responsible for the largest share of this expansion. However, since the start of 2014
Earlier this week spot returns in the VLCC market touched their lowest level since October 2014, with TCE earnings for Middle East/Japan (TD3) falling close to $20,000/day, says Gibson Weekly Tanker Market Report. The current weakness has been essentially driven by the build-up of
For Hutchison Port Holdings (HPH), one of the world’s leading container terminal operators, Stockholm is strategically important. In April the final permit was obtained to begin construction of the new Stockholm Norvik Port. Ports of Stockholm will build and own the container terminal
Amid generally weak demand around the world the South Asia region is the shining light for container growth, says Drewry's Maritime Research. Growth in container shipping is becoming a rare commodity; global port throughput only increased by 1% in 2015 (the second lowest on record
Navico Holding AS (Navico) is to be Acquired by Goldman Sachs Merchant Banking Division and Altor Fund IV Navico – a provider of marine electronics and parent company to the Lowrance, Simrad, B&G and GoFree brands – announced that Goldman Sachs Merchant Banking Division
French supplier of systems for marine transportation of liquified natural gas (LNG) Gaztransport & Technigaz (GTT) reported strong growth in its first half results on Thursday but cut its 2016 revenue outlook, blaming delays in the construction of some ships.
After 25 years as CEO of Antwerp Port Authority, Eddy Bruyninckx has been raised to the nobility by H.M. the king of Belgium with the rank of baron. In Belgium the title of baron or baroness is reserved for those who have made a notable contribution in a particular sector