Siemens Acquires CD-adapco for $970m
Siemens and CD-adapco have entered into a stock purchase agreement for the acquisition of CD-adapco by Siemens. The purchase price is $970 million. CD-adapco is a global engineering simulation company with software solutions covering a wide range of engineering disciplines including Fluid Dynamics (CFD), Solid Mechanics (CSM), heat transfer, particle dynamics, reactant flow, electrochemistry, acoustics and rheology.
Dorian LPG Post 3Q 2016 Profit
Dorian LPG Ltd. a leading owner and operator of modern very large gas carriers, today reported its financial results for the three months ended December 31, 2015. John Hadjipateras, Chairman, President and Chief Executive Officer, commented, "The third quarter was an extremely busy period for Dorian as we took the delivery of seven new Eco-design VLGCs. Our cash flow generated from operations has allowed us to repurchase an additional 480…
Slashed Charter Rate for Diana's m/v Houston
Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter rate is US$5,150 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum fourteen (14) months.
Cyclone Stan churns towards Australia's NW Ports
A tropical cyclone gathered strength as it headed for the northwest coast of Western Australia on Saturday, forcing ports to close and mining companies to evacuate. Cyclone Stan, the first of a season which runs from November to April, was estimated to be 195 km (120 miles) north ofA tropical cyclone gathered strength as it headed for the northwest coast of Western Australia on Saturday, forcing ports to close and mining companies to evacuate.
Offshore Fracking: Accord Reached to stop offshore fracking in California
A conservation group said the federal government must stop approving offshore fracking from oil platforms in California's Santa Barbara Channel under the settlement of a lawsuit it filed.
India Seeks Merchant Banks for Cochin Shipyard IPO
Indian Government has initiated procedures for sale of shares of Cochin Shipyard Limited (CSL) by seeking expression of interest (EoI) from merchant bankers to manage the initial public offering (IPO). The listing will involve the sale of some 33.98m shares, of which 22.66m will be primary and 11.33m secondary shares offered by the country, which wants to offload a 10% stake. Cochin Shipyard had a paid up share capital of Rs1.13bn ($16.65m) and a net worth of Rs15.61bn.
LSC Shipmanagement Receives 3 New Ships
In the first half of this year, JSC “Latvijas kugnieciba” subsidiary “LSC Shipmanagement” Ltd (LSCSM) will add three newly built oil and chemical tankers under technical management. The first of the three ships was delivered on January 11 – the 183 meters long tanker “Elandra Spruce”. The next addition to the fleet is expected in April – the tanker “Elandra Palm”, and in May “Elandra Oak” will be added to the fleet.
SwissMarine Hires Diana's Capesize Bulker
Greek dry bulk shipping company Diana Shipping has entered into a time charter agreement with Geneva-based SwissMarine Services S.A. for its Capesize dry bulker the m/v Houston. The gross charter rate is US$5,150 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum fourteen (14) months. The charter is expected to commence on January 30, 2016. The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009.
NYK Line Posts Loss on Dry Bulk Fleet Revaluation
Japan's Nippon Yusen Kaisha (NYK) has posted a $277.5mln extraordinary loss in the third quarter of year ended 31 March 2016 as it reduced the book value of its fleet inline with current market prices and expectations. The extraordinary loss came after it re-assessed the recoverable value of its dry bulk vessels. In the global shipping industry, an oversupply in the container shipping market continued due to ongoing steady production of new ultra-large vessels…
Chinpo Shipping Fined Over North Korea Gunrunning Case
Chinpo Shipping Company was fined a total of $180,000 on Friday (Jan 29) for transferring funds that could reasonably have been used to contribute to North Korea's…
Maersk Line Starts Colombia Express Service
The largest global container firm Maersk Line has launched a new weekly service between Santa Marta and Turbo in Colombia and Northern Europe specifically designed for refrigerated cargo. Danish container shipping giant added this new service from Latin America to Europe and a new call on an existing service in the trade lane in an effort to tap one of the areas where container lines can still gain steadily profitable business: reefer cargo.
Yangtze to Ship Direct Containers
Taicang Container Lines Co. Ltd has rolled out the first direct container shipping line linking China's Yangtze River basin and Southeast Asia, reports Xinhua. The container ship departs once a week from and arrives at Taicang Port in east China's Jiangsu Province, and will travel as far as Laem Chabang and Bangkok, Thailand, and Ho Chi Minh, Vietnam. Taichang Port is the river's largest container port.
Williams wins World Match Racing Title
Johor, Malaysia – GAC Pindar skipper Ian Williams has today entered the record books as the first to win sailing’s World Match Racing Tour title six times. Williams previously won the title in 2007, 2008, 2011, 2012, and 2015. He beats his own record set last year when he won the title for the fifth time. Today’s victory will go down as Williams’s best yet, after being drawn into a thrilling three-way battle with Björn Hansen (Nautiska) and Taylor Canfield (US One).
Cutlass Express 2016 Commences
Maritime forces from Eastern Africa, Western Indian Ocean island nations, Europe and the United States, as well as several international organizations began the fifth iteration of the multinational maritime exercise Cutlass Express, Jan. 30. Cutlass Express 2016, sponsored by U.S. Africa Command (AFRICOM), is designed to improve regional cooperation, maritime domain awareness (MDA) and information…
TE Debuts Subsea CiA LVDT Position Transmitter Featuring CANopen Interface
TE Connectivity (TE), a world leader in connectivity and sensor solutions, today announced a new Macro Sensors SSBR-937 Series CANBus LVDT Position Sensor with a CANopen interface compliant to CiA 443 for subsea instruments. The CiA 443 CANopen profile offers more interoperable and standardized communications to network with devices from different manufacturers used on the ocean floor. The new submersible…
Coast Guard Rescues 9 in Gulf of Mexico
The Coast Guard rescued nine people over the course of two separate incidents in the Gulf of Mexico, Saturday. Watchstanders at Coast Guard Sector Mobile were notified that a 36-foot recreational fishing vessel with five people aboard was taking on water 47 miles south of Dauphin Island at 12:08 p.m. The watchstanders directed the launch of a Coast Guard Station Dauphin Island 45-foot Response Boat…
Mexico's ICA to Resolve Conflict with APM Terminals
Mexican construction company ICA said on Friday it was seeking to resolve a conflict over a canceled port terminal contract with APM Terminals, part of Denmark's A.P. Moller-Maersk. The contract covered the first phase of construction at a container terminal at the Pacific coast post of Lazaro Cardenas, and ICA said in a statement it was seeking damages over what it describes as the unilateral cancellation of the contract by APM Terminals.
U.S. Navy Ship Sails near Island Claimed by China
A U.S. Navy guided-missile destroyer sailed within 12 nautical miles of an island claimed by China in the South China Sea on Saturday, in an operation the Pentagon said was designed to challenge efforts to restrict freedom of navigation. Pentagon spokesman Captain Jeff Davis said no ships from China's military were in the vicinity of the USS Curtis Wilbur when it carried out the operation near Triton Island in the Paracel Islands.
Beijing says U.S. Warship Violated Chinese Laws
China's foreign ministry said on Saturday a U.S. warship that sailed near an artificial island claimed by Beijing and several other nations has violated Chinese law by entering its territorial waters.
Ecochlor Selects Drew Marine for Global Resupply and Service Support
Ecochlor signed an agreement with Drew Marine to assist them in providing logistics support for the resupply of their BWTS precursor chemicals at selected ports and harbors globally. In addition, Drew Marine will provide chemical storage at designated ports, delivery of the precursor chemicals, and technical support to ships fitted with the Ecochlor BWTS. “This collaboration aligns with our vision…