Huntington Ingalls Industries Reports 4Q and 2012 Results
Huntington Ingalls Industries (NYSE: HII) reported fourth quarter 2012 revenues of $1.82 billion, up 5.1 percent from the same period last year. Segment operating income for the fourth quarter was $140 million, compared to $127 million in the same period last year. Total operating income for the fourth quarter was $106 million, compared to $121 million in the same period last year. Pension-adjusted total operating income for the fourth quarter was $131 million…
Golden Stena Weco Invests in New Tanker
The shipping and chartering company Golden Stena Weco has invested in an additional product tanker. The 9,000 dwt vessel, the Golden Avenue, will transport palm…
MacGregor Secures Eight Additional PIL Container Ships
MacGregor, part of Cargotec, has secured a further order from Dalian Shipbuilding Industry Co Ltd, in China, for its variable frequency drive (VFD) electric cranes.
Travelers Appoints Bill Queen as President of Ocean Marine
The Travelers Companies, Inc. announced that Bill Queen has been named President of Travelers Ocean Marine. In this role, Queen is responsible for the overall leadership and management of the Travelers Ocean Marine business. "Bill's extensive management experience has prepared him well for this role," said Jim Chapman, President of the Travelers First Party Group. Since joining the First Party Group four years ago, Queen has become increasingly involved with the Ocean Marine organization.
MHI to Implement Corporate Reorganization
Effective April 1 Mitsubishi Heavy Industries, Ltd. (MHI) will implement a complete reorganization of its corporate sector. The move, which is aimed at taking current…
RINA and IB Partner for Ship Management Software Suite
International classification society RINA Group has partnered with Italian software house IB to distribute a software suite aimed at improving ship and fleet operation across the board. The InfoSHIP suite is made up of a number of modules which together can be used to improve efficiency across any type of ship or fleet management. Paolo Moretti, General Manager, Business Line Marine, RINA Group, says, “Efficient ship and fleet management depends on managing information in the right way.
FarSounder Moves to New Global Headquarters
FarSounder, Inc. announced the move to their new Global Headquarters in Warwick, Rhode Island. The move enables consolidation and expansion of their corporate and sales offices…
Europe Deliberates Avoidance of a Second 'Deepwater Horizon'
A provisional deal on proposed legislation for the safety of offshore oil and gas operations has been struck by MEPs and Council negotiators. Before oil and gas firms can get a licence to drill…
MHI Plan Corporate Makeover
MHI sets targets on enhanced business sophistication and efficiency, stronger support of globalization drive. Effective April 1, 2013, Mitsubishi Heavy Industries, Ltd.
Costa Concordia Victims Win U.S. Jurisdiction Victory
Survivors of the Costa Concordia grounding win a huge victory in the United States District Court for the Southern District of Florida. The District Judge ordered…
Milestone Tankship Refit at Portugal's Lisnave Shipyard
The 107,123 dwt 'Eagle Turin', owned by AET is the 100th tankship refit project to be handled at Lisnave. This milestone in today’s highly competitive ship refit market, has been achieved over a period of 15 years, it being the second time that this particular tanker has visited Lisnave for general refits. The first tanker refit project from AET was received by Lisnave during 1998 – the 102,352 dwt Eagle Auriga arriving in March of that year.
Aker Acquire Specialized Drilling Firm
Aker Solutions acquires managed pressure drilling specialist Managed Pressure Operations (MPO). Managed Pressure Operations International, Ltd. (MPO) is a company that has successfully developed the next generation of continuous circulation, riser gas handling and managed pressure drilling systems. The main rationale for using managed pressure drilling is to improve safety and efficiency, enable access to new fields with challenging drilling conditions, and enhance the life of mature fields.
Global Ocean Commission Invites Industry Input
The Global Ocean Commission name chairs of a special plenary Sustainable Ocean Summit session to be held in Washington DC, in April 2013. Global Ocean Commission…