DSME Turns Profit in Q1
Daewoo Shipbuilding & Marine Engineering (DSME) swung to the black in the first quarter of the year from a year earlier, largely thanks to cost-cutting measures, reports Yonhap. The Korean shipyard reported an operating profit of 292 billion won ($257.57 million) for the January-March quarter, compared with an operating loss of 38 billion won a year earlier. Net profit reached 261 billion won (US$230 million) in the January-March period…
TechnipFMC wins EPC Contract
TechnipFMC has been awarded by Zakum Development Company (ZADCO) an Engineering, Procurement and Construction contract (EPC3 project) for a sulfate reduction plant on West Island located offshore Abu Dhabi, United Arab Emirates (UAE). The objective of the EPC3 project is the installation of a sulfate reduction plant module (SRP) along with new installations and tie-in to existing facilities in West Island.
Ethane Carrier GasChem Beluga Named
A new liquefied ethylene gas carrier (LEG) was named on Teesside today. Operated by German shipping company Hartmann Reederei and GasChem Services, the new eco-friendly sea vessel GasChem Beluga will carry shipments of ethane gas from Houston to SABIC’s cracker at Wilton on Teesside under a long-term time charter. SABIC recently converted its Teesside cracker during a major investment to enable it to take ethane gas alongside other feedstocks…
Pemex Approves New Deep Water Gulf Joint Venture
The board of Mexico's state-owned oil company Pemex on Thursday approved its second-ever deep water joint venture covering the Nobilis-Maximino block in the country's territorial Gulf waters.
Case Study: CAD/CAM for Naval Refit
The ANZAC Class is a ship class of 10 frigates: eight operated by the Royal Australian Navy and two operated by the Royal New Zealand Navy (RNZN). They have an overall length of 118 meters and a displacement of around 3,800 tons. In 2014, New Zealand ordered extensive modernizations to its frigates’ core combat and related systems. This would require the integration of the Lockheed Martin CMS 330, integrated with radar improvements…
Louisiana OKs Use of Grants for DP Assessments
The Louisiana Workforce Commission (LWC) has approved use of Incumbent Worker Training Program (IWTP) grants to cover the cost of Offshore Service Vessel Dynamic Positioning Authority, Inc. (OSVDPA) Phase 4 Assessments. “It’s great to see the Louisiana Workforce Commission recognize the OSVDPA’s assessments as an important part of the professional development of mariners,” said OSVDPA Executive Director, Aaron Smith.
Cox Takes over as Matson Board Chairman
Matson, Inc. president and chief executive officer Matthew J. Cox will succeed retiring chairman of the board Walter A. Dods, the company announced today. The appointment becomes effective at the end of the company's annual shareholders’ meeting today, as Dods retires in accordance with the company's corporate governance guidelines limiting board members’ age. “In my nearly 30 years associated with Matson, I've never felt stronger about its leadership and long-term prospects,” Dods said.
Wilhelmsen Acquires Drew Marine Technical Solutions
The Wilhelmsen group has signed an agreement to acquire the technical solutions business from Drew Marine. “This acquisition offers a unique opportunity to enhance the scale and geographic reach of our marine products division,” said Wilhelmsen group CEO, Thomas Wilhelmsen. The acquired business will be brought into Wilhelmsen Ships Service. As part of the transaction, the business, people and competence in Drew Marine Technical Solutions will be transferred to Wilhelmsen.
Updated Forecast: Floating Production System Orders
World Energy Reports has released its midterm five year forecast of production floater orders. The forecast, detailed in the March 2017 WER report, reflects positive and negative developments in underlying business drivers since WER’s five year forecast last October. Likelihood that the November U.S. election results will accelerate U.S. More rapid expected increase in cost of capital – U.S. Overall…
TUMSAT: More than a Rowing School
Philippine-born Ananya Surangpimol won a prestigious scholarship to Japan in 1971 and, after a year of intensive Japanese, entered Tokyo University of Fisheries, one of the first Asian women to do so in a former all-male imperial university. There she completed a master’s degree in food science but one of her favorite memories of her attendance at this former naval academy was being required to swim a kilometer in the open sea and row a big 12-oar cutter in her freshman year.
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First Spanish-built SOV Launched
The first service operation vessel (SOV) built in Spain has been launched at shipbuilder GONDAN’s facilities in Figueras. This 81.1-meter-long and 17-meter-beam vessel is the first of two new SOVs that GONDAN will deliver to Norwegian ship owner Østensjø Rederi, with whom GONDAN has signed already 13 shipbuilding contracts in the last decade. The launch event was attended by representatives from Østensjø Rederi as well as the charterer of the vessel, Dong Energy.
Philippines Completes Scientific Survey in Disputed Sea
The Philippines has completed an 18-day scientific survey in the South China Sea to assess the condition of coral reefs and draw a nautical map of disputed area…
Norwegian Joy Delivered for NCL
Norwegian Cruise Line took delivery of Norwegian Joy, the brand’s 15th ship and the first custom-designed for the Chinese cruise market, from Meyer Werft during an on board ceremony in Bremerhaven, Germany. The vessel is due to arrive in China in June. “As Norwegian Cruise Line continues our global growth, Norwegian Joy’s delivery marks a momentous occasion in our company’s history, signifying our official entry into the Chinese cruise market…
Metal Shark Launches Stock Boats Program
Louisiana-based boat builder Metal Shark says it is ramping up production to build an inventory of stock vessels, with the goal of reducing lead times and enhancing its service to customers. Metal Shark has traditionally custom-built each vessel to accommodate its customers’ unique mission requirements. To continue this practice, vessels built as part of the company’s new Stock Boats program will in most cases be built to a stage where they are awaiting final outfitting.
Total Expects Decision on First Libra FPSO by Summer
A decision on the first floating, production, storage and offloading (FPSO) vessels on the giant Libra project in Brazil will be made by the summer, Total's head…
ABB, IBM Partner on Industrial Artificial Intelligence
ABB and IBM announced a strategic collaboration that brings together ABB’s digital offering, ABB Ability, with IBM Watson Internet of Things cognitive capabilities…
ABS Leads Ballast Water Management Workshop
ABS, a provider of classification and technical services to the marine and offshore industries, hosted a Ballast Water Management (BWM) Workshop for ship owners with BWM systems installed onboard their vessels. The full-day session covered a range of issues, including installation, commissioning and operational challenges associated with BWM systems. “This workshop is another example of how ABS serves as a trusted advisor and independent voice…
Buoy Shot and Sunk off Block Island
A U.S. Coast Guard crew was conducting regular aids-to-navigation maintenance when they found a buoy submerged near Block Island, R.I. When the crew raised the 12,000-pound buoy on Monday, they discovered it was riddled with 20 bullet holes. Clay Head buoy number 7 marks a large rock three feet below the water's surface and is supposed to be key navigational tool for mariners. Instead it turned into…
Russian Intelligence Ship Sinks, All 78 Crew Rescued
A Russian naval intelligence ship sank off Turkey's Black Sea coast on Thursday after colliding with a vessel carrying livestock and all 78 personnel on board the navy ship were evacuated…