Ulstein Group Records Operating Loss of $11.5M
In 2015, Ulstein Group recorded revenues of $279.4 million and an operating loss of $11.5 million. The business areas Design & Solutions and Power & Control both recorded profits.
ECOSLOPS, SOPREMA Ink Supply Deal
ECOSLOPS an innovative technology company that upgrades ship-generated hydrocarbon residues (slops) into valuable distillates and light bitumen, has announced the…
Container Equipment Prices Nosedive - Drewry
Prices for new dry freight containers declined to their lowest point since 2002 during first-quarter 2016 and are still going down, according to the latest edition of the Container Equipment Insight…
Cyberhawk CEO Shortlisted for EY Entrepreneur Award
Chief executive of Livingston-based Cyberhawk Innovations, Craig Roberts, has been shortlisted as a regional finalist in the 2016 EY (Ernst and Young) Entrepreneur of the Year Awards for Scotland.
Record Coal Handling by Mundra Port
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and operator, today accomplished a discharge record of 1,64,914 metric tons of…
IRClass Unveils IR-HULL Software
IRClass, the Indian classification society, today announced the release of its new technical software, IR-HULL. IR-HULL was developed by IRClass specifically to…
Austal Christens Manchester (LCS 14)
Austal officials joined ship sponsor U.S. Senator Jeanne Shaheen and many distinguished guests in celebrating the christening of the nation’s 14th littoral combat ship (LCS)…
IUMI Welcomes Revised York-Antwerp Rules
In general, the International Union of Marine Insurance (IUMI) welcomes the revised York-Antwerp Rules (YAR 2016) which were adopted by the Comité Maritime International…
S. Korea to Host Six-Nation Submarine Rescue Exercise this Month
South Korea will host a six-nation submarine exercise in its southern seas later in the month, Yonhap quoted the Navy as saying. The Pacific Reach 2016, involving the United States…
Yamal LNG Over 50% Complete
Novatek deputy chairman and CFO Mark Gyetvay said the Yamal LNG project in Russia have now passed the 50 percent overall completion mark. Gyetvay noted that 100…
GC Rieber Charter Agreement with Reach Subsea
GC Rieber Shipping ASA has entered into a time charter agreement with Reach Subsea for the CSV Polar King to support Norwegian University for Science and Technology’s…
Taiwan Launches its Highest-Capacity Container Ships
State-backed shipbuilder CSBC Corporation, Taiwan has launched two domestically developed and constructed vessels in the southern Taiwan port city of Kaohsiung, reports Taiwan Today.
Maersk CEO: Negative Rates Hurting Shipping
Negative interest rates are hurting shipping industry by delaying the consolidation wave so badly needed, Bloomberg reports quoting Nils Smedegaard Andersen, chief…
Shipping Sector Emissions: LNG, Methanol Lead the Pack
A recent JRC report finds that fuels like liquefied natural gas (LNG) and methanol are the most promising alternatives to drive decarbonisation of the shipping sector…
Iranian Maritime Knowledge Hub to Open
The Iranian Maritime Industry Knowledge Hub will be soon opened up and ready to use by public in the area of shipping and offshore industry. Reza Mohammad Alibeike…
AWO Holds Spring Convention
AWO members converge on Washington D.C. The American Waterways Operators’ (AWO) 2016 Spring Convention attracted more than 200 members to Washington, D.C. April 19-21, including 36 first-time attendees. The annual event included a day of organization-wide and sector-specific meetings to discuss priority industry issues, the 14th Annual Barge-In, the Annual Membership meeting, at which AWO’s new member leadership was elected and new members of the Board of Directors were enrolled…
Odfjell Reports Strongest Quarterly EBITDA Since 2008
Odfjell reported a net result for the first quarter 2016 of $24 millions, with improved EBITDA of $69 million, compared to $45 million last quarter. The company…
Austal Wins Support Deal for LCS 8
Austal Limited announced it has secured an order worth nearly $11.8 million from the U.S. Navy to provide engineering and management services for advance planning and design in support of the Post Shakedown Availability for the Littoral Combat Ship Montgomery (LCS 8). The cost-plus-award-fee order is against the previously awarded Basic Ordering Agreement (BOA) N00024-15-G-2304 for the Independence-variant Littoral Combat Ship program.
This Day In Naval History: May 9
1860 - While off the Isle of Pines (now named Isla de la Juventud) near the south coast of Cuba, the screw gunboat Wyandotte captures the slaver William, which carries 570 Africans. 1926 - Lt. Cmdr. Richard E. Byrd and Chief Aviation Pilot Floyd Bennett report reaching the North Pole in their heavier-than-air-flight aircraft. Both receive the Medal of Honor for this event. 1942 - USS Wasp (CV 7) launches 47 RAF Spitfires…
SHIPPINGInsight Agenda, Keynote Speakers Announced
SHIPPINGInsight announced the agenda and identified keynote speakers for the fifth Fleet Optimization Conference & Exhibition. The annual event will take place October 18-19, 2016, at the Stamford Marriott Hotel and Spa in Stamford, Conn. Capt. Michael Wilson, president & COO of Laurin Maritime (America), will serve as conference chairman. John D. (Jack) Noonan, COO of Chembulk Tankers, and Capt. Norbert Aschmann…
