Cummins Reports Revenue Jump in Q2 2014
Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013. The increase year-over-year was driven by stronger demand in on-highway markets and distributor acquisitions in North America. Revenues in North America increased 14 percent while international sales decreased 1 percent compared to the second quarter a year ago.
Today in U.S. Naval History: July 28
Today in U.S. 1916 - Navy establishes a Code and Signal Section which initially worked against German ciphers and tested the security of communications during U.S. naval training maneuvers. 1945 - USS Callaghan (DD-792) is last ship sunk by a Japanese kamikaze attack, off Okinawa. 1973 - Launch of Skylab 3, the second manned mission to the first U.S. manned space station, was piloted by Major Jack R. Lousma, USMC with Capt. Alan L.
GPA Sets Tonnage Record
The Georgia Ports Authority moved more than 29 million tons of cargo, 3 million twenty-foot equivalent container units (TEUs) and more than 700,000 auto and machinery units in Fiscal Year 2014. “The board and staff of the Georgia Ports Authority are to be commended for their outstanding achievements this year,” said Georgia Gov. Nathan Deal. “Our ports’ success is a win for us all, and a direct result…
Valemon Topsides Installed
On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is the first Statoil topsides built in South Korea. The structure sailed from the yard on June 15 this year, and after a quick stop in Åmøyfjorden, Stavanger, last Saturday, it headed out to the field. The transportation to Norway took 40 days.
Diana Shipping Invests in Diana Containerships
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into an agreement to purchase shares of the common stock of Diana Containerships Inc. for an aggregate purchase price of $40 million. Concurrently with the company's investment, two institutional investors not affiliated with the company or Diana Containerships together purchased $40 million of common shares…
Tripoli Airport Ablaze, Rockets Leave Libya in Chaos
Diplomats flee Libyan chaos; Politicians appeal for international intervention. Clashes in Tripoli, Benghazi kill around 160 over two weeks, while Libyan capital face fuel, power shortages.
RS Class New Ships for the Caspian Sea
Russian Maritime Register of Shipping (RS) has signed a contract with Baku Shipyard LLC for the construction of three 38М high speed crewboats (designer - SHIPTECH…
South Korean Teens: Left to Escape Sinking Ferry
Students testify no help came from crew; Coastguard rescuers were passive, only pulling passengers out. Crew in a state of panic, witness says. Six teenagers who…
Raytheon Anschütz Debuts ShipGuard at SMM
In view of an increasing demand for security of merchant ships and maritime trade, Raytheon Anschütz, a German-based manufacturer of Integrated Bridge Systems, has developed shipborne security solution ShipGuard. ShipGuard will be presented for the first time ever at SMM 2014 in Hamburg. ShipGuard efficiently integrates the vessels existing navigation systems such as AIS and radar with a suite of commercial surveillance cameras.
North Sea Atlantic Joins the Technip fleet
On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic.
Coast Guard Responds to Grounded Freighter in Lake St. Clair
The Coast Guard has responded Sunday to a 656-foot freighter that was hard aground in the downbound shipping channel of Lake St. Clair. Initial reports indicate…
Private Buyers in Iran Look to Boost Grain Market
One sign of change in Iran as it works toward a nuclear deal with world powers is the way it is feeding itself, with private grain firms beginning a slow return…
New Australian Navy Submarines to be Japan Built?
Australia should discuss building its next-generation fleet of submarines overseas, the Department of Defence said on Monday, a shift that could open the door to a partnership deal with Japan that carries political risk at home and abroad. Australia is looking for partners to help it build about a dozen diesel-electric submarines to replace its aging Collins Class fleet and help to extend its maritime surveillance deep into the Indian Ocean.
Location of New Port Expansion Projects: Analysis
When it comes to port development, many governments now favour letting the market decide where expansion should take place, whereas most other transport infrastructure, such as roads and rail, remains centrally managed. The problem is that old habits die hard in shipping, meaning that the free market approach is sometimes a painful process, as discussed here in an excerpt from recent Drewry Maritime Research.
Europe Sleep Walking into an Energy Crisis: Analyst
The downing of flight MA17 has prompted calls for further sanctions on Russia targeted at its energy sector. Douglas-Westwood in its 'DW Monday' analysis considers whether such sanctions could have sufficient teeth. Russia is the world’s largest exporter of natural gas and second largest exporter of oil which together account for near 60% of its export earnings. Gazprom supplies 30% of Europe's gas - some 15% via Ukraine - and has warned exports will be affected if sanctions are expanded.
GAC North America Passes the Helm to Schensema
GAC says it has moved Claus Schensema to Houston, Texas, where he will take up the post of Managing Director of GAC North America Logistics. Schensema brings 25 years’ experience in shipping and logistics to his new role as GAC North America Logistics’ Managing Director, including expertise in international freight forwarding, contract logistics management, automotive logistics, oil & gas support and ship agency management.
Australia Approves Adani's $16 bln Carmichael Coal Project
The Australian government on Monday approved Indian firm Adani Mining Pty Ltd's controversial A$16.5 billion ($15.5 billion) Carmichael coal and rail project in Queensland, subject to strict conditions to protect groundwater. The Carmichael mine, which could become Australia's largest coal mine at 60 million tonnes a year, has sparked protests from green groups and marine tour operators worried about carbon pollution and export of the coal from a port near the Great Barrier Reef.
Tanker with Iraqi Kurdish Oil Anchors off Texas Port
A tanker carrying crude oil from Iraqi Kurdistan was anchored near the Port of Galveston, Texas, and must undergo a routine safety inspection by the U.S. Coast Guard on Sunday before it can unload its cargo, an official said. The Marshall Islands-flagged tanker United Kalavrvta sailed from the Turkish port of Ceyhan in June bound for the U.S. Gulf Coast despite Washington's concerns over independent oil sales from the autonomous region and threats from the Iraqi central government.
BOEM to Gather Data on Potential Oil & Gas Areas
As part of its commitment to a regionally tailored approach to safe and responsible domestic energy production, the Bureau of Ocean Energy Management (BOEM) today…
Intelligent grabbing technology SmartGrip by Liebherr
For the mobile harbour crane range Liebherr has developed an intelligent system which optimises grab filling rates in a self-learning manner. In a comprehensive study, Liebherr collected real bulk handling data of different crane models. Complex data analyses showed that – on average – only 70% of the grab capacity is used, mainly due to suboptimal grabbing angles and a varying material density. Based on these findings, SmartGrip ensures that the full capacity of the grab is utilised.