EOG Resources Posts Smaller Quarterly Loss
Oil producer EOG Resources Inc's loss in the third quarter was smaller than a year earlier the company took an impairment charge of more than $6 billion. The company posted a net loss of $190 million…
Boat that Attacked Tanker off Yemen Carried Explosives
Unknown assailants who opened fire on a gas tanker last week off the coast of Yemen were also carrying a "substantial amount of explosives", the vessel's owner said on Thursday…
Burgess Marine Acquires Yacht Specialist Global Services
Britain’s largest independent ship repairer and marine engineering services provider, Burgess Marine, has today completed the acquisition of the Superyacht centric procurement specialist Global Services and its sister company Global New Builds. The acquisition is Burgess Marine’s fifth to date and its second since RJD Partners’ private equity investment in February of last year. “Whilst on paper this is an acquisition the operational reality is far…
Great Lakes Limestone Trade Dips 3.5% in October
Shipments of limestone on the Great Lakes totaled 3.3 million tons in October, a decrease of 3.5 percent compared to a year ago, the Lake Carriers’ Association (LCA) reported. October’s loadings were also 5.4 percent below the month’s five-year average. LCA said loadings from U.S. quarries totaled 2.7 million tons, a decrease of 7.8 percent compared to a year ago, while shipments from Canadian quarries totaled 613,000 tons, an increase of 21.4 percent.
First Marine Order for PowerCell S3 Prototypes
The fuel cell company PowerCell Sweden AB (publ) has received the first marine order for two PowerCell S3 prototype stacks, which Swiss Hydrogen will install on a ship powered by photovoltaics.
GE Marine Solutions Expands Asia Presence
GE’s Marine Solutions has appointed Jason Electronics Pte. Ltd. as its value-added reseller for SeaStream dynamic positioning (DP) systems in the ASEAN region and China. The appointment gives Jason Electronics reselling rights of GE products in the aforementioned regions. “The collaboration between GE and Jason Electronics ensures that GE will acquire a long-term reliable partner in key regions. It…
Diana Containerships Sells MV Angeles for Scrap
Diana Containerships Inc. said that it has reached an agreement to sell the 2006-built Panamax vessel Angeles (formerly YM Los Angeles) for demolition, with delivery due to the buyer by mid-November 2016. The vessel was sold through Diana’s separate wholly-owned subsidiary to an unaffiliated third party for a sale price of approximately $6.69 million before commissions. Upon completion of the sale…
Will Naval Operations Heat up in the Arctic?
As diminishing sea ice in the Arctic Ocean expands navigable waters, scientists sponsored by the Office of Naval Research have traveled to the region to study the changing environment and provide new tools to help the U.S. Navy operate in a once-inaccessible area. "This changing environment is opening the Arctic for expanded maritime and naval activity," said Rear Adm. Mat Winter, chief of naval research.
France to Defend Interests in STX Shipyards
The French government has told South Korea it will oppose any solution for shipbuilder STX France that is against national industrial interests, Industry Minister Christophe Sirugue told Reuters on Thursday on the eve of a deadline for bids. STX France is 66.7 percent owned by failed South Korean shipbuilding group STX. An insolvency court in South Korea ruled last month that the French arm could be sold either separately from the parent, or as part of a bigger sale. Bids are due by Nov.
OCEAN ALLIANCE Sets Out Network
Members of the OCEAN ALLIANCE, COSCO Container Lines, CMA CGM, Evergreen Line and Orient Overseas Container Line, signed a document entitled the Day One Product, which sets out the proposed OCEAN ALLIANCE’s network, including port rotation for each service loop. The Day One network intends to deploy around 350 container vessels with an estimated total carrying capacity of 3.5 million TEUs to provide one of the most comprehensive service coverage in the market on the following trade lanes.
C-MAP Unveils Insight Chart Options
Global cartography leader C-MAP is set to introduce a new series of map products for boaters. The new U.S. mapping products — C-MAP Insight Pro and C-MAP Lake Insight HD — combine the trusted chart detail, unique content and popular graphical presentation of C-MAP cartography with exclusive chart data from GoFree Lake Insight charts. Boaters and anglers using these charts will also benefit from millions of acres of customized data from the Insight Genesis Social Map…
Gothenburg, Rotterdam New Service Begins
The opening of a new freight service to Rotterdam is a welcome development, presenting further opportunities for Swedish industry. The company behind the new service is the ro-ro* carrier CLdN, whose vessels will call at the Port of Gothenburg twice a week. A new freight service has been introduced between Gothenburg and the continent, operated by Luxembourg-based ro-ro company CLdN. The company’s vessels will depart twice weekly from Logent Ports and Terminals at the Port of Gothenburg…
S. Africa Becoming Preferred Destination for Ship Arrests
At the recent annual Maritime Law Conference (MLA) held at Arabella in the Western Cape, various prominent government and international speakers took to the floor to debate and discuss national global maritime phenomena including inter alia; the progress in handling international oil spillages, port congestion, salvage and vessel arrests. Progress and unity was evident amongst the highly respected panel of speakers including Captain Rufus Lekala (TNPA Chief Harbour Master)…
Euronav in full control of VLCC V.K. Eddie
Euronav NV announced today that it has agreed to purchase the 50% of the joint venture it does not own in the VLCC V.K. Eddie (2005 – 305,261 dwt). Euronav will buy the vessel from the joint venture company at a price of USD 39 million and will receive back 50% of the proceeds. The joint venture partner, Oak Maritime (Canada) Inc., has agreed to the delivery of the Daewoo-built vessel for its full control in mid-November. Hugo De Stoop, CFO, said: “This is a logical move for both parties.
Schell, Appointed CEO, Rolls-Royce Power Systems
Rolls-Royce announces today that Andreas Schell has been appointed as Chief Executive Officer (CEO) of Rolls-Royce Power Systems (RRPS). Andreas will join Rolls-Royce later this year, reporting to Chief Executive Warren East, and take up his new position from 1 January 2017, succeeding Dr Ulrich Dohle who is retiring. Andreas has a wealth of international leadership expertise, running large complex…