Independent Monitoring of Deep-sea Hydrocarbon Industry
Writing in the scientific journal Nature, scientists have called for increased discussion of independent monitoring of deep-sea hydrocarbon industry activity with the aim of obtaining a better understanding of its ecological impact. The hydrocarbon industry is increasingly searching for hydrocarbon resources at much greater depths and developing drilling technology to exploit them. However, drilling…
Naval Architecture and Marine Engineering Awarded Project
Naval Architecture and Marine Engineering Italian firm Alberto ALBERT was awarded a project to develop for Italian Logistic firm MOVENDO International the transport…
GL Debuts Korean Language Corporate Website
Germanischer Lloyd (GL) has for nearly 35 years used its technical expertise and knowledge to serve the Korean shipbuilding community. A recently-launched Korean language sub-site, hopes to further strengthen that connection by providing clients in Korea with the latest updates on GL's classification and maritime services. GL opened its first Korean office in Busan in 1977, followed by stations established in Ulsan, Geoje Island, Busan and Mokpo, branches in Daegu and Seoul.
Huntington Ingalls Profit Up 9.8%
According to a report from The Virginian-Pilot, about six weeks after it was spun off by Northrop Grumman Corp., shipbuilder Huntington Ingalls Industries Inc. announced…
USCG Responds to Rising Water on Inland Rivers
The Coast Guard has stood up a Maritime Transportation System Recovery Unit, Tuesday, in response to rising water levels on the Inland River System that have impacted commercial traffic.
Knightsbridge Tankers' Profit Drops
According to a report from Reuters, Knightsbridge Tankers Ltd reported a 16% drop in quarterly profit as ship-oversupply hurt sales. Capesizes barely covered their…
Iron-Ore Ship Rents Fall
According to a report from Bloomberg, rents for capesize ships that haul iron ore fell the most in a month on excess vessel supplies. Hire rates fell 5.4% to $6…
AKE Supports Unarmed Solution to Piracy
On the day a South Korean ship was attacked by pirates, the “Security Threats to Korean Business Operating Overseas” conference, run by Assist Card Korea, heard…
Stealthgas Receives New LPG Ship
STEALTHGAS INC. (Nasdaq:GASS), a ship-owning company serving primarily the liquified petroleum gas (LPG) sector of the international shipping industry, announced today the delivery of Gas Cerberus, new charter arrangements for three vessels, the sale of four vessels and first quarter 2011 financial results release date, conference call and webcast. On April 20, 2011, the Company took delivery of the 5…
Hapag-Lloyd In 2011 First Quarter
In the traditionally weak first quarter Hapag-Lloyd managed to boost revenues by comparison with the same period of the previous year by 16.5 percent to 1.483 million euros. The main reason for this achievement was a ten percent rise to 1,563 USD/TEU in the average freight rate. Transport volume was two percent up on the 2010 first quarter at 1.2 million TEU. Active yield management enabled Hapag-Lloyd to concentrate successfully on profitable cargo…
Marine Current Turbines Wins Prestigious International Award
Marine Current Turbines, the UK tidal energy technology company, has won EnergyOcean International’s 2011 Technology Pioneer Award for successfully demonstrating…
STX Europe 1Q 2011 - Improvements Continuing
- EBITDA of NOK 424 million in Q1 2011 compared with NOK 88 million in Q1 2010. - Profit before tax of NOK 334 million for Q1 2011 (Q1 2010: NOK -151 million). • Order intake of NOK 1 708 million in Q1 2010 (Q1 2010: NOK 2 808 million). • 7 vessels successfully delivered in first quarter 2011. - Singapore listed STX OSV Holdings Limited ("STX OSV"), had continued strong performance in Q1 2011 with an EBITDA result of NOK 439 million.
Dr. Fleming President of BMT Fleet
BMT Fleet Technology Ltd, a subsidiary of BMT Group Ltd, the leading international maritime design, engineering and risk management consultancy, is pleased to announce the appointment of Dr Gordon Fleming as President. A former Canadian Naval Officer, Gordon has over 30 years of experience in the aerospace and defence industry with a focus on the naval marketplace. He holds a BSc from Royal Roads Military…
Wilhelmsen Holding Q1 2011 Results
Wilh. Wilhelmsen Holding ASA (WWH) delivered a substantial increase in operating profit year over year backed by a rebound in its shipping activities. WWH posted an operating profit of USD 57.7 million for the first quarter of 2011, up 31% from USD 44.0 million in the similar quarter of 2010 (corresponding period of 2010 hereafter in brackets). Total income amounted to USD 753.2 which is up almost 18% from 2010 (USD 639.7 million).
Conrad Announces Q1 2011 Results
Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced today its first quarter 2011 results and backlog, and discussed challenges presented by the rising waters of the Mississippi River and the Atchafalaya River. For the quarter ended March 31, 2011, Conrad achieved net income of $3.7 million and earnings per diluted share of $0.58 compared to net income of $1.7 million and earnings per diluted share of $0.27 during the first quarter of 2010.
NOIA Applauds Passage of HR 1229
Washington, D.C. “We applaud the bi-partisan passage today of HR 1229, `Putting the Gulf of Mexico Back to Work Act'. The legislation is important to oil and gas companies because it lays the foundation for consistency and reliability in the offshore permitting process. A statutory timeframe in which the government must decide to either approve or deny a permit to drill offshore will replace the current limbo-like waiting game with a predictable response time.
Prem Kumar Added to EPA Fugitive List
WASHINGTON – Prem Kumar, also known as Premakumaran Krishnan, a citizen of India, has been added to the U.S. Environmental Protection Agency’s (EPA) fugitive list for failing to surrender to federal law enforcement authorities after he was indicted for his role in an illegal ocean-going vessel wastewater discharge case. Illegally discharging wastewater into the ocean threatens aquatic life and can lead to fish kills, contamination of fish and shellfish, and may have long-term ecological effects.