General Electric Company News

Austal USA has named Jim Blastos as vice president supply chain management, with responsibility for the company’s procurement, strategic sourcing, warehousing, logistics, material management and production control activities.Blastos has over 25 years of experience in developing strategic organizational transformation, collaborative solutions and operational processing. He has held leadership positions in supply chain and operations in the U.S. Navy and industry, including Overhead Door Corporation…

The global oilfield communication market is expected to grow with a CAGR of 8% over the forecast period 2019-2024, said a study.With the growing adoption of cloud-based services, oil companies are compelled to use oil field communication, said a report from ResearchAndMarkets. This keeps their offshore sites connected with the inshore site about production stats, which helps in better supply chain management.The smooth flow of materials is very important for oil companies as their profitability is highly dependent upon the turnover and downtime needs to be avoided.For instance, GE Oil & Gas, the service provider to oil and gas companies has shifted 350 of its applications to Amazon's cloud offering…

The global offshore wind energy market is poised to grow over USD 49.74 billion by 2023 at an estimated CAGR of around 11.12% during the period 2017 to 2023.The growth in this sector can be attributed to the increasing demand for clean and reliable energy in order to reduce the global carbon emissions and to maintain ecological balance by generating electricity through renewable resources, said a report by Market Research Future.However, high initiating capital cost of the projects with high maintenance cost and logistics issues, can hinder the offshore wind market. Also, high tidal winds and bad weather conditions making it difficult…

The marine propulsion engine market was valued at $9 billion in 2015 and is projected to reach $12 billion by 2022, growing at a CAGR of 4.1 percent from 2016 to 2022, according to a new report published by Allied Market Research. Diesel propulsion system segment is expected to maintain its dominance throughout the forecast period. Asia-Pacific accounted for the highest share of 51 percent in 2015, and is anticipated to maintain this trend. Increase in production and sales of ships globally and rise in international seaborne trade drives the market growth.

GE Transportation is a global digital industrial leader and supplier to the marine industry. Established more than a century ago, GE Transportation is a division of the General Electric Company that began as a pioneer in passenger and freight locomotives. That innovative spirit still drives GE Transportation today. The firm employs about 10,000. GE’s Marine Solutions is at the forefront of emissions reductions with its breakthrough technology that achieves optimal operational and emissions compliance in medium-speed diesel engines.

Hyundai Heavy Industries (HHI) has signed an MOU with General Electric Company (GE) to cooperate for the development of GOGES (COmbined Gas turbine Electric and Steam) package for LNG carriers and containerships. The MOU signing ceremony was attended by Choi Kil-seon, chairman and CEO of HHI; Kim Jeong-hwan, COO of HHI’s Shipbuilding Division; Chung Ki-sun, executive vice president of HHI; John Rice, CEO of GE Global Growth & Operations; Tim Schweikert, CEO of GE Marine; Chris Khang, CEO of GE Korea. At the event, the two companies discussed agendas including the technical development progress and economic feasibility of COGES package and joint sales activities at LNG18, an upcoming international LNG conference and exhibition in April in Australia this year.

Cruise shipping is one of the fastest growing sectors in tourism. The Cruise Lines International Association (CLIA) predicts that over 24 million passengers will take a cruise in 2016 and that CLIA member lines will match this with more than a $6.5 billion investment in new ocean-going ships. However, in the past few years, the industry has not always hit the headlines for the right reasons. Negative environmental stories, brand damage, revenue loss and sometimes even incidents costing passenger lives, have prompted the U.S.

GE’s Marine Solutions business is showcasing how its latest technologies are helping future cruise ships to be safer, cleaner and more efficient. “GE is dedicated to delivering innovative technical solutions to drive the cruise industry forward. Our long track record with major cruise lines underlines our strong position as a strategic partner for our customers,” said Tim Schweikert, president & CEO, GE’s Marine Solutions. Most recently, GE was chosen to provide upgrade services to three cruise vessels owned by the Carnival group.

U.S. Environmental Protection Agency Regional Administrator Judith A. Enck announced the start of the sixth, and final, season of dredging of PCB-contaminated sediments from the bottom of the Hudson River. The historic dredging project – one of the largest and most complex cleanups in Superfund history – began in 2009. The EPA is overseeing the dredging project that is being conducted by General Electric Company (GE) under the terms of a 2006 legal agreement. According to GE, the company has invested more than $1 billion on the cleanup project to date.

GE Transportation will supply Marinsa, Panama, with 26 V228 diesel engines. The 12-cylinder engines will power 13 new tugboats to be used in the Panama Canal in Panama. “This is a significant order for GE, the largest we’ve received to date in Latin America. We faced stiff competition in the marketplace and are delighted that ultimately our V228 engines were selected for this project,” said John Manison, manager of GE Transportation’s marine and stationary power business, Erie, Pennsylvania. Marinsa is GE’s authorized distributor in Latin America.

Nine companies expressed interest in the privatization of Hellenic Shipyards at Skaramanga, part of the country's privatization agenda for 2001, the development ministry reported. The government's advisers on the project will shortlist bidders in the next 15 days and then ask for binding bids for the shipyard, whose major shareholders are ETBA Bank and workers. The ministry expects the project to be concluded by June. The companies that expressed interest are: Constructions Mecaniques de Normandie; General Electric Company; Howaldtswerke Deutsche Werft AG-Ferrostaal AG; Louis Cruise Lines Ltd ; Mentor Technologies; Elefsina Industrial Companies SA; Pacific & Atlantic Corporation; Royal Schelde BV-Damen Shipyards Group BV; and Vosper Thornycroft Ltd.

When Iridium, the $5 billion satellite company, fell into bankruptcy on March 18, 2000, it went down as one of the costliest corporate fiascoes of all time. More than one year later, Iridium is back in business, though under completely new ownership. Iridium raised a few eyebrows and a fair share of skeptics with its decision to launch its global satellite communications services. How could the new company prosper when the previous one — using the same technology had failed? Enter Gino Picasso, the company's CEO. Up front and honest, Picasso says that the new Iridium is no pipe dream. Speaking via telephone from a restaurant near Iridium's Tempe, Ariz. offices, Picasso shared his visions and ideas with MR/EN regarding the future of the new company.

Millennium Cell Inc. has created a proprietary technology to safely store, generate and deliver pure hydrogen, today announced the appointment of Roland E. Lefebvre to the position of Chief Operating Officer, effective today. Most recently, Lefebvre, who has had an extensive career in the energy industry, was Executive Vice President and Chief Operating Officer of American Superconductor Corp., Westborough, MA. “Millennium Cell is pleased to welcome Roland in this important role,” said Dr. Stephen S. Tang, Millennium Cell President and CEO. “I am looking forward to the new opportunities this role offers, and to working to achieve the impressive goals Millennium Cell has established,” said Lefebvre.