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Year Plan

MOL Group Introduces New Management Plan

Overall Strategies

Mitsui O.S.K. Lines, Ltd. (MOL) announced a new three-year midterm management plan that will take effect in April 2014, called "Steer for 2020". MOL Group has been carrying out all plans in single-year plan "Rise 2013" with goals of restoring profitability and laying a strong foundation to return to a growth trajectory. Recognizing that the group is well on its way to achieving those objectives, it envisioned what the MOL Group should look like in 2020, set the course to arrive there, and incorporated it into a three-year plan called "Steer For  2020". MOL explained, 'to steer' means to take the helm of a ship and direct its course toward a specific destination. The MOL Group said it intends to cut the rudder and steer straight on a course of high-quality, solid growth towards 2020, which is why the group chose that particular name for its plan. A summary of MOL's new midterm management plan follows.  


Braemar Poised for Expansion

Braemar (Incorporating The Salvage Association) is poised to expand its marine surveying and consultancy services following its recent buy‐out by Braemar Shipping Services plc. The company is looking forward to taking advantage of the wider group’s extensive global office network to broaden its existing international expert marine surveying and consultancy service. The Association, which boasts a maritime history of more than 150 years


Natural Gas Engine Development in China

Gas Engine Prototype: Photo credit GYM Co.

Guanxi Yuchai Machinery Company developing natural gas-powered engines for multi-purose use China Yuchai International Limited sayst its subsidiary Guangxi Yuchai Machinery Company Limited (GYMCL) is developing natural gas-powered engines. The new engines will complement GYMCL's line of diesel engines used in large buses, trucks, power generators and marine engines. The gas-powered engines are being developed in response to government policies encouraging energy conservation and


Interior Department Plans Drilling Expansion

The Department of the Interior proposed leasing drilling rights in waters south of the Florida Panhandle in the Gulf of Mexico in a new five-year drilling plan that also would open waters off Virginia. The plan will cover the years 2007 to 2012. If given final approval next spring after a public comment period, the plan would be more restrictive than some drilling advocates want but not restrictive enough for some Florida lawmakers


Conservation Groups Challenge Navy's Sonar Plans

Whale Image CCL 2

The National Oceanic and Atmospheric Administration (NOAA) has approved the Navy’s 5-year plan to expand its sonar & live-fire training exercises in the Pacific ocean, but environmentalists are challenging the decision because of the threat it poses to marine life, reports Care2 in the following (excerpted) report. It’s been well established that marine mammals rely on hearing to navigate, communicate, feed and survive


Tecton Acquires Endurance Exploration

Tecton Corporation (TTNC) has acquired Endurance Exploration Group, LLC,  a development stage company that specializes in subsea shipwreck research, search and survey, inspection and recovery projects, in a share exchange agreement.   Established in 2009, Endurance has evaluated over 125,000 shipwreck database entries and other sources to develop a "High Interest" list of approximately 400 shipwrecks and a "Target List" consisting of about two-dozen potential


Wärtsilä Establish China Engine Manufacturing J/V

Wärtsilä 32 Engine: Image credit Wärtsilä

Wärtsilä & Yuchai Marine Power Co to establish a 50/50 joint venture for manufacturing medium-speed marine engines in Zhuhai City. The joint venture will serve the increasingly dominant Chinese shipbuilding industry, with the focus being on the assembly and testing of Wärtsilä 20, Wärtsilä 26 and Wärtsilä 32 engines. Operations are planned to start in 2014. The value of Wärtsilä's investment in the joint venture is approximately EUR 17


CapRock Wins Maritime Contract

CapRock has added Subsea 7, a major operator of energy support vessels, to its customer list. The long-term multi-million dollar agreement with Subsea 7 provides for worldwide data and voice communications services on CapRock’s global network. The latest win is a milestone in CapRock’s multi-year plan to expand its presence beyond the Gulf of Mexico, following its customers around the world with turnkey communications.


Port of Liverpool, UK, Container Terminal Gets EIB Finance

River Mersey'a new terminal, 'Liverpool 2', gets European Investment Bank (EIB) port development loan. Liverpool 2, is due to open in 2015, and the European Investment Bank has agreed to provide almost half the finance for the £305m development, reports BBC News Liverpool. The post-Panamax terminal - for ships wider than the original Panama Canal - will be capable of handling ships carrying 13,500 TEU containers, compared to the current limit of 3,500 TEU in Liverpool


Expro Facility Highlights Continued Global Growth

From left, Expro’s UK area manager, Neil Sims, and Expro’s Europe CIS region director, Keith Palmer, at the new Carnegie building in Dyce

International oilfield services company, Expro, is opening a new facility in Aberdeen to enhance its growing well intervention business, following a strong annual global revenue increase to more than $1billion (£630 million). The site, in Howe Moss Avenue Dyce, will house Expro’s wireline, well intervention, well services, well integrity (Safewells) and cased hole logging services to help provide integrated and multi-skilled teams.


Damen Shipyards Galati wins Dutch Romanian Award

Dutch Romanian Business Award 2014 lowres

  Damen Shipyards Galati has been presented with the Dutch Romanian Business Award for its Corporate Social Responsibility plan, particularly the Group’s community investment initiatives. The Award was presented by Ben Jager of the Dutch Romanian Network to Peter de Kiewit


Container Volumes on the Rise in South Carolina

Photo: South Carolina Ports Authority

Container volume up 13 percent at South Carolina Ports Authority; Charleston benefiting from federal appropriations    The SC Ports Authority announced another month of double-digit container growth, with fiscal year-to-date volumes up 13 percent year over year.  


China Adds 9 Shipyards to Favored 'White List'

Photo: China Shipbuilding Industry Corporation

China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market.   In September, it published a list of 51 yards which it later cut to 50


China Names 9 Shipyards for 'Favorable' Treatment

China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50


Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to extend a lease on two ultra-deepwater drilling ships. Petrobras, as the Brazilian oil company is known, will get the ships


USS Constitution Not to Set Sail Until 2018

USS Constitution gets underway in Boston Harbor for the ships 217th birthday cruise.

  The crew of USS Constitution embarked on their final Boston Harbor underway demonstration aboard Old Ironsides this year, Oct. 17. Constitution set out into the harbor for her fifth and final underway of 2014 at 10 a.m. with more than 600 guests in attendance aboard America's 'Ship of


Ingram Barge Order 20 Tank Barges for 2015

Tank barges: File photo

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions, this continued expansion in their barge fleet coincides with a 10-year plan that began in 2007


Ingram to Build 20 Tank Barges in 2015

Orrin Ingram

Ingram Barge Company announced that it will build 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions, this continued expansion in their barge fleet coincides with a 10-year plan that began in


China Lists 51 Shipyard 'White List'

COSCO Zhoushan Shipyard: Photo COSCO

China has released its first "white list" of 51 shipyards that it deems worthy of favourable policy support, as the world's largest shipbuilder strives to tackle over-capacity that has slammed the global shipping market. The government said last year that shipbuilders that complied


US Pushes Plan to Ease South China Sea Tensions

China will come under the most concerted diplomatic pressure yet to rein in its assertive moves in the disputed South China Sea when the United States uses a regional security meeting this weekend to rally support for a freeze on provocative acts.


Valemon Topsides Installed

Two hours after the Valemon topsides weres lifted off the transport vessel, the structure landed on its feet. (Photo: André Osmundsen/Statoil)

On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is the first Statoil topsides built in South Korea. The structure sailed from the yard on June 15 this year


Wärtsilä's JV with CSSC to Expands Engines Range

  Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co


US Approves Plan to Open Atlantic to Oil Reserve Surveys

The Obama administration on Friday approved a plan that would allow companies to assess oil resources off the Atlantic Coast, angering environmental groups that worried the plan will harm marine life and open the door to offshore drilling.


US Kicks off Evaluation of Offshore Oil, Gas Leases

The U.S. Department of the Interior took its first steps on Friday to develop the next five-year schedule of potential offshore oil and gas lease sales. Interior issued a request for information and comments on the oil and gas leasing program for U.S


Yantai Port Cargo Volume Up 10.4pc

 Port of Yantai in northern Shandong province, China

  The Port of Yantai in northern Shandong province, posted a 10.48 per cent year-on-year increase in overall cargo volume to 105 million tonnes in the first four months of the year, reports Xinhua. The port's full-year cargo throughput is expected to hit 300 million tonnes this year






 
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