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 (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
Groundwork has started on the renovation of a central shipyard complex that be used for outfitting future Royal Navy Successor submarines, British Forces News said. BAE Systems had announced last year a $459 million modernization of the entire shipyard in Barrow-in-Furness, Cumbria, in anticipation of government approval of the nuclear deterrent submarines, which will replace Vanguard-class vessels.
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
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
EMGS has received permits from Mexico's Comisión Nacional de Hidrocarburos (CNH) authorizing the acquisition of up to approximately 88,000 square km 3D EM multi-client data in the Salina de Itsmo Basin. EMGS will prioritize acquiring EM data for the future bid rounds in Mexico as outlined in the ''Plan Quinquenal de Licitaciones para la Exploración y Extracción de Hidrocarburos 2015-2019'' announced by theSecretaría de Energía (SENER) in
Ship container line Hapag-Lloyd has placed an order for five vessels as it looks to bolster trade in Latin America ahead of next year's planned expansion of the Panama Canal, the world's fourth biggest player said on Monday. Workers are installing 22-storey lock gates to accommodate larger container ships through the canal, one of the world's busiest maritime routes, which plans to open on April 1 2016.
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
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
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
The U.S. federal government has killed more than 1,000 seabirds on an Oregon island since May to protect endangered salmon as part of a plan that environmentalists say is flawed and are seeking to stop with a lawsuit. So far, 1,221 adult cormorants have been killed and more than 5
Philippine generals on Wednesday asked Congress to almost triple annual defence spending over the next five years to upgrade equipment amid an escalating marine dispute with giant neighbour China. The Philippines currently is in the middle of a 998 billion pesos ($21
U.S. Chief of Naval Operations (CNO) Adm. Jonathan Greenert on Monday highlighted the U.S. Navy's intended track and investments in a document that outlines the Navy’s navigational plan for the next five years. "This year's navigation plan highlights our Navy's key investments
Breakbulk tonnage exceeds plans by 6 percent; Inland Port achieves record rail moves Container volumes increased 14 percent during SC Ports Authority's (SCPA) 2015 fiscal year, building upon several previous years of above-market growth with strength across all business segments
Following a record-setting month of container volumes achieved in May, the South Carolina Ports Authority (SCPA) board of directors looked ahead to a favorable 2016 fiscal year today with the adoption of a financial plan that includes continued cargo growth
Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee Chairman Lamar Alexander (R-TN) for the 26-4 vote approving the FY 2016 appropriations bill that increases funding for
AAPA strongly supported two amendments to carry out intent of 2014 water resources legislation The American Association of Port Authorities (AAPA) lauded H.R. 2028, the U.S. House of Representatives’ fiscal 2016 Energy and Water Appropriations bill that passed today
Today the House Appropriations Committee, led by Chairman Hal Rogers (R-KY), approved by unanimous voice vote the FY ’16 Energy & Water Development (E&WD) and Related Agencies appropriations bill, significantly increasing funding in Fiscal Year 2016 for the U.S
House Appropriations Committee approves strong FY ’16 funding for Corps with full use of all estimated inland waterways trust fund annual revenues The U.S. House Appropriations Committee, led by Chairman Hal Rogers (R-KY), today approved by unanimous voice vote the FY ’16
The U.S. and Canadian Seaway Corporations marked the opening of the Seaway's 57th navigation season today, with the transit of the newly-built CWB Marquis through the St. Lambert Lock. The vessel is the first of two Equinox-class lakers ordered by Winnipeg-based grain marketer CWB
Budget constraints are jeopardising Malaysia's defence spending plans, which include replacing ageing fighter jets and beefing up its maritime capabilities, at a time when Beijing is growing more assertive in the disputed South China Sea.
Indonesia is seeking US$7 billion in foreign investment to upgrade its ports as part of a five-year plan to improve its ports network, Finance Asia said. The plan involves modernizing existing ports and building new ones in the country
Japan's third-biggest shipping company Kawasaki Kisen Kaisha ('K' Line) plans to beef up its LNG and bulker vessels over the next four years, while downsizing its container shipping fleet. The group plans to reduce its fleet of container ships from 70 to 61; however
The crew of USS Constitution commemorated the bicentennial of Old Ironsides' final battle during the War of 1812, her unprecedented dual-victory over Royal Navy ships HMS Cyane and HMS Levant Feb. 20 in Charlestown Navy Yard. Constitution Sailors fired the ship's saluting battery at noon to
ExxonMobil Mobil Corporation earned $32.5 Bi in 2014 Highlights: