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September 1, 2014 1:23 PM ET

Fortum Buys Stake in Wave Power Startup

  Finland's top utility, state-controlled Fortum, on Monday said it has acquired a 14 percent stake in Finnish wave energy developer Wello. Wello has developed a floating vessel that captures energy from waves and converts it into electrical power with a generator, Fortum said.

September 1, 2014 1:03 PM ET

Gazprom Neft Starts Oil Production, Shipments from Iraqi Badra Field

  Russia's Gazprom Neft said on Monday it started commercial production and shipments of oil produced at its Iraqi Badra oil field. Gazprom Neft, the oil arm of state gas company Gazprom , said that first oil was to be delivered via Iraq's pipeline system to the export terminal in Basrah.

September 1, 2014 12:56 PM ET

Statoil Says Normal Operations at In Amenas Gas Plant Resuming

   Normal operations are resuming at the In Amenas gas plant in Algeria 18 months after a raid by Islamist militants killed forty employees, one of the plant's operators, Statoil, said on Monday. "The corporate executive committee has decided that

September 1, 2014 12:48 PM ET

Cavernous Swiss Power Plant Undermined by Renewable Energy

  Deep in a Swiss mountain, workers have blasted out a cathedral-sized hole for a power plant that will help keep Europe's lights on, but the profit outlook for the 1.9 billion Swiss franc ($2.1 billion) project has darkened since its construction began in 2008.

September 1, 2014 12:44 PM ET

NZ's Lyttelton Port Recommends Offer, to Pay Special Dividend

The board of New Zealand's  Lyttelton Port Co. Ltd recommended minority shareholders accept an offer of NZ$3.95 a share offer from the commercial arm of the Christchurch city council. The board backed the offer from Christchurch City Holdings Ltd, which controls 95.

September 1, 2014 6:03 AM ET

RIMPAC Exercise Puts LCS Through Paces

  It was the middle of May, and the littoral combat ship Independence was operating out of San Diego, testing components of the mine warfare mission package. The mission is one that, except for several extended overhaul periods, has consumed much of

September 1, 2014 5:57 AM ET

NYK Opens New Planning Center in Kumamoto

  On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc. in Ozu town, Kumamoto prefecture, Japan.   The task of container stowage

September 1, 2014 5:50 AM ET

TNO Receives 'International Media Award for Prevention'

  The Engagementgame developed by TNO in collaboration with partners is the winner of the 'International Media Award for Prevention' in the category Multi Media. This serious game, that trains managers to decrease work related stress and increase work engagement of their workers,

September 1, 2014 5:45 AM ET

USCG Medevacs Mariner in Port Alexander, Alaska

  The Coast Guard medevaced an 87-year-old female reportedly suffering from complications associated with a lower back injury aboard the fishing vessel Annie B in Port Alexander, Sunday evening. An Air Station Sitka MH-60 Jayhawk helicopter crew

September 1, 2014 4:10 AM ET

More German Shipowners Look to Gibdock for Repairs

Gibdock remarks it has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent client list reads like a ‘Who’s Who’ of leading German shipowners and managers, underlining

September 1, 2014 4:00 AM ET

No Sign of Ultra-Large Containership Mega Hubs: Analysis

Contrary to the views of some in the industry, Ultra Large Container Vessels are continuing to call at multiple North European ports per loop and are not concentrating on a mega-hub, according to Drewry’s latest Container Insight Weekly, excerpted here.

September 1, 2014 3:50 AM ET

Wärtsilä Reshuffles Two Top Managers

The following appointments have been made in the management inform Wärtsilä Corporation: Mr Rakesh Sarin (59), B.Sc. (Eng.), has been appointed President of Power Plants, Executive Vice President and member of the Board of Management of Wärtsilä Corporation, effective 1 September 2014.

September 1, 2014 3:30 AM ET

A Boost for UK Offshore Drilling? DW Monday Muses

Drilling activity offshore UK is now expected to increase over the next few years as government and industry reacts to the recommendations in Sir Ian Wood’s report – the “Wood Review” – to maximise UK offshore oil & gas recovery advises Douglas Westwood's 'DW Monday' study.

September 1, 2014 12:50 AM ET

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand, the project has raised the bar of what can be achieved in an entirely bespoke project, say the yacht builders.

September 1, 2014 12:44 AM ET

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves plans to replace Mukilteo ferry terminal The 60-year-old Mukilteo ferry terminal is one step closer to replacement.

September 1, 2014 12:27 AM ET

MHI, IHI & DBJ Join Forces On Investments

  Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective investments into a new commercial aero engine company, Mitsubishi Heavy Industries Aero Engines, Ltd.

September 1, 2014 12:25 AM ET

Clarksons PLC Perform Strongly in 1H 2014

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.7m in the first six months of 2014 (2013: £89.1m) despite the weaker US dollar against sterling,

September 1, 2014 12:14 AM ET

ABB Celebrates 125th Anniversary in Finland

  ABB is celebrating today its 125th anniversary in Finland. Founded in 1889 in Helsinki by entrepreneur and inventor Gottfrid Strömberg, ABB Finland is today an innovative automation and power technology company with more than 5,000 employees in 30 locations, with sales of 2.

September 1, 2014 12:10 AM ET

NZ Interislander Ferry to Dry-dock in Devonport

NewZealand's KiwiRail says that the Interislander ferry Arahura has left Wellington for her scheduled bi-annual dry-docking in Devonport, having last visited Auckland in July 2012. Docking is being undertaken at the Devonport Dockyard under the management of Babcock’s New Zealand.

September 1, 2014 12:00 AM ET

China's National Carbon Market to Start in 2016

   China plans to roll out its national market for carbon permit trading in 2016, an official said Sunday, adding that the government is close to finalising rules for what will be the world's biggest emissions trading scheme. The world's biggest-emitting nation,



 
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