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Strong Year

Monico Promotes Walker Sales VP

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 the company’s ever-growing product sales and expanding sales staff, to utilize his business and management experience to bring more structure and drive to the company’s sales process and to grow international sales. After just one year in the position, Walker has exceeded expectations. Prior to joining Monico, Walker served as Vice President of Global Sales for PECOFacet and Managing Director of Facet Deutschland GmbH, both Clarcor Companies, and was also an officer of Perry Equipment Corporation.  He brought to Monico more than 25 years of experience in engineering, operations, sales and general management. monicoinc.com


Trafigura Expects Tougher Shipping Markets in 2016

Commodities trading firm Trafigura expects tougher conditions in tanker markets next year as weaker world economy prospects and a slide in oil prices are set to take their toll on shipping. Bargain hunters picking up cheap crude after the price drop and refineries, which have been very busy meeting rising demand, have helped tanker markets experience their best earnings in years after a long period of losses. Rates for crude supertankers have soared in recent weeks to over $110


Port of LA Breaks Record

For the second consecutive year, the Port of Los Angeles experienced record-breaking exports as outbound container volumes surged 14.5 percent in 2011 compared to 2010. Imports also increased 2.3 percent compared to the previous year. Total annual volumes, including empty containers, rose 1.4 percent. Complete statistics are available here. “We’re fortunate to have stronger year-over-year results in 2011 but we are not resting on our laurels as the nation’s premier trade


Shipping’s Medical Drama Unfolds ... again

Source: Clarksons

 As the recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities, many of the key shipping markets continue to be in a state of very ill health, and owners seem to be rushing to the emergency room, reports Clarksons Research.   But with such a youthful global fleet on the water, how might this next episode of shipping’s medical drama play out?  


KVH Industries Q1 2010 Results

KVH Industries, Inc., (NASDAQ:KVHI) reported financial results for the first quarter ended March 31, 2010. Revenue for the first quarter of 2010 was $28.0 million, up 53% from the quarter ended March 31, 2009. Net income for the period was $2.1 million, or $0.14 per diluted share. During the same period last year the company reported a net loss of $2.6 million or $0.18 per diluted share, on revenues of $18.3 million.


Schlumberger Announces Q1 Results

Paal Kibsgaard

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.57 billion in the first quarter of 2013. Income from continuing operations attributable to Schlumberger, excluding charges and credits, was $1.59 billion—a decrease of 11% sequentially but an increase of 23% year-on-year.  Diluted earnings-per-share from continuing operations, excluding charges and credits


General Ship Repair: A Family Affair

A Lynch Legacy  From L to R: Michael Lynch, Ryan Lynch, Charles “Chaz” Lynch, Charles F. “Derick” Lynch & Cary B. Lynch.

The General Ship Repair Corporation, a fixture on the Baltimore water front for nearly a century, continues to build a strong business while preparing for fourth generation ownership.  General Ship Repair Corporation is as ubiquitous of a presence on the Baltimore waterfront as Under Armour, Domino Sugar and “Natty Boh.” General Ship Repair has stood strong for nearly a century since its founding by Charles “Buck” Lynch in 1924


Hempel Records Strong Year

Hempel in 2006 was able to take advantage of its leading market segment positions, continuing sustained growth to deliver a 19 percent increase in revenue versus 2005. The Hempel revenue figure was a new record level of EUR 780 million. Operating profit was up 36% to EUR 61 million from EUR 45 million and net profit was up 23% to EUR 37 million from 30 million for the same period last year. With the higher levels of trade and construction activity worldwide, Hempel was able to increase


Boskalis Posts Record Profits

Peter Berdowski, CEO. Pic with compliments from Boskalis

  Royal Boskalis Westminster N.V. (Boskalis) achieved net profit of EUR 490 million in 2014.   Revenue rose by 1 per cent to EUR 3.2 billion (2013: EUR 3.1 billion).   EBITDA rose by 25 per cent to EUR 946 million (2013: EUR 757 million) and the operating result (EBIT) was up 41 per cent at EUR 652 million (2013: EUR 463 million).   Across the board, 2014 was an operationally strong year with in addition a large number of exceptional items for a total amount on


Liebherr Mobile Harbor Crane Review 2012

LHM 500 Nutep_Russia.jpg

In 2012 Liebherr Mobile Harbor Cranes achieved the highest annual turnover in history.   In addition to this remarkable success, Liebherr received the IBJ Innovative Technology Award and the State Prize Clean Technology Austria, acknowledgements for its innovative strength and environmental awareness. Moreover, Liebherr reached a remarkable milestone with the delivery of its 1000th mobile harbour crane.   Proved excellence in cargo handling


Sovcomflot Profits slip

Projects - The company services large-scale energy projects in Russia and abroad, including Sakhalin-1, Sakhalin-2, Prirazlomnoye, Varandey, Tangguh and Peregrino.

Reviewing the company’s financial and operating results for the first half year ended 30 June 2016, on 23 August 2016, the Executive Board of PAO Sovcomflot (“SCF Group”) noted that despite a tanker market downturn, the company was able to demonstrate strong performance and


Hoegh LNG Profits Dip

Photo: Höegh LNG Partners

 Norway-based owner and operator of floating LNG import terminals, Höegh LNG  reported a second quarter profit after tax of US$3.5 million, down from $6.3 million in the first quarter 2016.   The company’s profit after tax was also down in comparison to the


Höegh LNG Speeds up FSRU Conversion

Photo Höegh LNG

Höegh LNG Holdings Ltd. today announced that it has signed agreements with Wärtsila Oil and Gas (EPCIC regas) and Moss Maritime (engineering) for its first FSRU conversion project, including the ordering of critical equipment with long lead time.


APL Strengthens Asia-Europe Service Network

The new Service.

APL today announced the launch of a new weekly service - the India Pakistan Europe (IPE) Service, directly connecting the key South Asian markets of India and Pakistan to major ports in Europe. The new IPE service builds on APL’s strong market presence and local expertise in India and


Monjasa Bags Credit Facility from Société Générale

Photo: Monjasa Group

 Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from the company says credit facility is already operational


Portland Auto Exports Drive ConnectOregon Grant

 The Oregon Department of Transportation has awarded a ConnectOregon grant of $2.6 million to the Port of Portland along with tenant Auto Warehousing Co. to fund part of a $7 million expansion of auto handling facilities in the Rivergate Industrial District near Terminal 6


Damen Now Offfers AEC Scrubbers

(Photo: Damen)

Damen Shipyards Group said it has signed a sales agreement with scrubber producer AEC Maritime, meaning Damen will now be able to offer ship owners exclusive access to efficient, low maintenance and IMO-certified exhaust gas scrubber technologies.  


Pressure Mounting on VLGCs Rates - Drewry

Source Drewry’s LPG Forecaster report (www.drewry.co.ukpublications)

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.   Two major factors have lowered VLGC rates in recent times: excessive fleet growth and weak


Pakistan Mulls Second LNG Import Terminal

BW LNG. Photo:  BW Group

 BW Group (BW) has signed a 15-year agreement with Pakistan GasPort Limited (PGPL) to provide LNG regasification services utilizing a new-build Floating Storage and Regasification Unit (FSRU) for the second Pakistan LNG terminal.  


MSRC CEO to Retire in April 2017

Photo courtesy of MSRC

The Marine Spill Response Corporation (MSRC), the nation’s leading oil spill response organization, has announced that Steven T. Benz, the company’s President and CEO, will be retiring on April 30, 2017.   Tim Plummer, Chair of the MSRC Board of Directors


Damen Repairs Two Van Oord Barges

Van Oord Split Hopper Barges

Damen Shiprepair Vlissingen recently completed a broad scope of maintenance and repair works on the Van Oord-owned Split Hopper Barges Jan Blanken and Jan Leeghwater. The vessels, both with 2,853 m3 hopper capacity, left the yard on schedule just 10 days after arrival.


DP World Rating Upgraded by Fitch

Photo DP World Port

Fitch Ratings recently upgraded DP World Limited’s  Long-Term Issuer Default Rating (IDR) to BBB from BBB- and its Short-Term IDR to F2 from F3. The rating outlook is stable.   The upgrade follows on the Fitch announcement in November 2015 that DP World’s outlook had been


MN100: Brunswick Commercial and Government Products

Photo:  Brunswick Commercial and Government Products

The Company: Brunswick has been in the business of building boats for commercial and military applications for more than fifty years. From its beginnings as an arm of the legendary Boston Whaler brand to now – part of Brunswick Corporation


Q4 Bounce Forecast for Dry Bulk Market

File photo: Eagle Bulk Shipping

The Q4 bounce – a seasonal staple of the dry bulk markets – looks likely for Capesize and Panamax segments, but the effects may be limited.    Independent research and consultancy firm Maritime Strategies International (MSI) is forecasting a fourth quarter bounce in dry


Hong Kong Shipping Group Wants Aid to Arrested Ship's Crew

The Hong Kong Shipowners Association (HKSOA) on Thursday called on the city's authorities to provide assistance to the crew of a Hong Kong-flagged coal ship off the east coast of Australia that is running out of food and fuel. Local Australian media and Great Britain's Guardian newspaper






 
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