Qatar Navigation Reports Q1 Results
Qatar Navigation Q.S.C. announced today financial results for the three months ended March 31, 2011. • Operating revenues of QR 533 million vs. same period in 2010 of QR 431 million. This represents a 24% increase year over year. • Operating Profit of QR 157 million vs. same period in 2010 of QR 118 million. This represents a 33% increase year over year. • Net Profit of QR 262 million and QR 2.28 earnings per share, vs. same period in 2010 of QR 771 million and QR 6.73 per share.
Maersk Tankers Now Fielding KVH CommBox
MIDDLETOWN, RI – Maersk Tankers, a division of A.P. Moller Maersk AS, has chosen the CommBox™ Ship/Shore Network Manager from KVH Industries, Inc., (Nasdaq: KVHI) to increase efficiency and lower communications costs aboard 70 vessels. This is in addition to 50 CommBox-equipped vessels that Maersk brought onboard with its acquisition of Broström tankers in 2010. Copenhagen, Denmark-based Maersk will…
Hyundai Heavy Q1 Net Profit Up 21.16 %
Hyundai Heavy Industries, the world’s biggest shipbuilder, today reported first quarter net profit of KRW 903 billion, an increase of 21.16 percent year-on-year. Sales rose 16.92 percent to KRW 6.3 trillion won with operating profit up 10.99 percent to KRW 991.8 billion. Hyundai Heavy’s annual sales target for this year is KRW 26.9 trillion and new orders of USD 26.6 billion. The Company’s operating…
This Day in U.S. Coast Guard History - May 2
1882-An Act of Congress (22 Stat. 1932- Northern Pacific Halibut Act re-enacted Act of 7 June 1924, after Convention with Canada and made it unlawful to catch halibut…
Commissioning for Newest Navy Destroyer USS Lawrence
The USS William P. Lawrence (DDG 110) will be commissioned June 4, 2011, at the Alabama State Port Authority Pier 2 Terminal in a ceremony co-hosted by the City of Pensacola and the City of Mobile.
Almar by North River Boats Recent Completions
Almar by North River Boats Inc. of Roseburg, Ore. 1.) This is the fourth boat in a series of five 33-ft X 10-ft Sounder Pilot House built for Hydrographic Survey use.
General Dynamics Awarded Second U.S. Navy Sub
The U.S. Navy has released $1.2b for the construction of the 14th Virginia-class submarine, SSN-787, to General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics (NYSE: GD).
Almar, North River Boats Delivers Fire Boat
Almar by North River Boats Inc. of Roseburg, Ore. announced the recent delivery of a 30-ft by 10-ft Sounder / Fire Boat. This boat was built to NFPA 1925 standards and the fire suppression system was UL Certified prior to delivery. The boat is equipped with twin Honda 225 hp four stroke outboards for its main propulsion system and powers the 30-ft vessel at greater than 32 knots. A single 200 gallon fuel tank supplies the propulsion engines, fire engine and genset.
According to a report from Today, a MediaCorp Press publication, Yangzijiang Shipbuilding reported a 14 per cent year-on-year rise in revenue to 3.05 billion yuan…
China Shipbuilding Profit Jumps
According to a report from Ebeling Heffernan, China Shipbuilding Industry Co. (CSIC), the country’s northern shipbuilding giant, said its net profit last year rose 7.28% to about $246b.
Asry Repair Sales Reach $40m in Q1
According to a report from the Gulf Daily News, Arab Shipbuilding and Repair Yard (Asry)’s ship repair sales reached $40.154 million and 52 vessels were repaired during the first three months of 2011.
GE Shipping Takes Delivery of Jag Aditi
According to a report from SteelGuru, Great Eastern Shipping company has announced that the company took delivery of its new building Kamsarmax dry bulk carrier Jag Aditi.
GPA Designs Barges for Panama Canal Authority
In 2010, Naval Architecture and Marine Engineering firm Guido Perla & Associates, Inc. (GPA) was awarded a project to deliver design and engineering services for…
NAUTIS Integrated DP & Offshore Simulators on Show
Rotterdam/Houston, May 2nd 2011 – VSTEP’s NAUTIS Maritime Simulators will be featuring at selected client booths during the OTC2011 in Houston, Texas. These clients have chosen NAUTIS because of its realism, visual quality, affordability and user friendliness. The OTC 2011 is hosted from 2-5th May 2011 at Reliant Park in Houston and is the world’s foremost event for the development of offshore resources in the fields of drilling, exploration, production, and environmental protection.
Strategic Marine Awarded Another Repeat Order
Strategic Marine has signed another repeat order with Western Australian company Bhagwan Marine to deliver two new vessels to service the WA's offshore oil and gas industry, including the Gorgon Project. The new contracts for a 49.5 metre and 38 metre landing craft follows the delivery of a 48 metre landing craft to join the Bhagwan Marine fleet late last year and a 27 metre work barge in March this year.
New Contract to Kleven Maritime
Kleven Maritime has signed a new contract with Rem Offshore for delivery of one LNG powered offshore vessel. With this new contract, Kleven Maritime’s order reserve increases to 9 vessels at a combined value of 3.3 billion NOK. The vessel is of Wärtsilä Ship Design and is scheduled for delivery from Kleven Verft in Ulsteinvik in December 2012. Kleven Verft is currently building two vessels for Rem Offshore and has previously delivered 11 ships to the company.
Horizon Lines Reaches Agreement with CSX
CHARLOTTE, NC, May 2, 2011 – Horizon Lines, Inc. (NYSE: HRZ) today announced that it has finalized an agreement with CSX Corporation to reduce charter payments on three vessels leased from CSX. Under the agreement, charter hire expense has been reduced by $3 million annually, retroactive to January 2011, through the January 2015 expiration of the charter. The agreement represents a total savings of $12 million for Horizon Lines over the remaining life of the charter.
G E Shipping Takes Delivery of Kamsarmax Dry Bulk Carrier
The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of its new building Kamsarmax dry bulk carrier “Jag Aditi”. The vessel of about 80,700 dwt was built at STX Offshore & Shipbuilding Co.Ltd, South Korea. With the induction of “Jag Aditi”, the Company’s fleet stands at 35 vessels, comprising 27 tankers (10 crude carriers, 16 product tankers, 1 LPG carrier) and 8 (1 Capesize, 2 Kamsarmax…
Lloyd's Register to support Maersk FPSO
Lloyd’s Register EMEA has been awarded the global contract to provide Maersk FPSOs with a comprehensive suite of technical services to assure the reliable operation…
MSC Ship Supports Operation Unified Protector
Military Sealift Command fleet replenishment oiler USNS Big Horn delivered vital fuel and supplies to Canadian navy ship HMCS Charlottetown April 29, the first replenishment…