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Industries Reports

SembCorp Completes Rig Job

SembCorp Industries reported that its engineering and shipyard units have jointly completed the fabrication and assembly of an offshore rig for Woodside Energy of Australia. The vessel - Northern Endeavour - is owned by Woodside Energy of Australia, Shell Development (Australia) and BHP Petroleum. The barge type steel hull vessel has an oil storage capacity of 1.4 million barrels and was scheduled to start production in October.


KVH Foresees Further 2003 Growth Expectations

Satellite communications provider, KVH Industries, reported its results for the second quarter ended June 2003. The Middletown, R.I. company, which also manufactures defense-related navigation and guidance systems, reported net income for the period was $0.4 million. By comparison, KVH recorded a net loss of ($0.8) million, during the same period last year. Revenue for the period was $14.4 million, up 14 percent from $12.6 million for the second quarter ended June 30, 2002


Oil Price Dives

U.S. stocks of crude oil, gasoline and heating oil grew last week according to the Energy Department on Wednesday, which was more bearish than Tuesday's industry report, analysts said. The figures were evidence that threadbare crude and products stocks that have plagued the petroleum complex most of this year are finally being replenished by increasing imports, analysts said. Crude stocks rose 3.1 million barrels last week according to the Energy Information Administration (EIA), about 700


MarineCFO Live Software: 40 Companies Buy-In

MarineCFO, a provider of On-Vessel, Marine Operations, Personnel, Fleet Maintenance and Financial Management Software Solutions to the workboat industry, reports that its on-line version, MarineCFO  Live! – launched in late 2009 – has seen explosive growth in 2010. Marine companies report a number of benefits with MarineCFO Live!, which is now being used by more than 40 marine companies in 10 countries, including Harvey Gulf, Otto Candies, Enterprise Products


China Shipbuilders Woeful, Many Face Uncertain Future

Many Chinese shipbuilders flounder in the face of a declining world shipping slowdown according to the latest industry reports. Production at Chinese yards, the world's biggest shipbuilders by tonnage, declined steeply during the first three quarters of the year, reports 'China Daily'. During the period, finished capacity dropped by 18.5 percent from last year to 41.58 million deadweight tons, and new orders decreased by 46.9 percent year-on-year to 15


Swiber Reports Profitable First Half 2013

Swiber logo

Singapore's Swiber Holdings construction & support services providers to the offshore oil and gas industry, reported that net profit in the half year ended June 30, 2013 rose 11.8% to US$37.4 million from US$33.5 million in the half year ended June 30, 2012. Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, “The first half of this year has seen Swiber making strides in several ways


Conrad Industries Reports 3Q Results

Conrad Industries, Inc. reported net income of $71,000 for the quarter ended September 30, 1999, compared to net income of $1.3 million for the quarter ended September 30, 1998. The company had net income of $1.6 million for the nine months ended September 30, 1999. Revenues for the quarter and nine months ended September 30, 1999 were $6.9 million and $25.1 million, respectively. Revenues for the quarter and nine months ended September 30, 1998 were $12.8 million and $36


Conrad Industries Reports Earnings

Conrad Industries Inc. expects to report earnings per share for the quarter ending Sept. 30 of between $.01 and $.03 compared to earnings per share of $.10 for the quarter ending June 30. For the quarter ending Dec. 31, earnings per share are expected to be between $.05 and $.08. The company expects earnings per share of between $.28 and $.33 for the year ending Dec. 31. William H. Hidalgo, president and CEO, stated, "Our earnings for the third and forth quarters will be below the levels we


BW Selects KVH mini-VSAT Broadband for LNG and LPG Fleet

Photo: BW Maritime

KVH Industries, Inc. was chosen by BW, a worldwide maritime energy transportation company, as the satellite communications solution for its Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) fleet. BW’s vessels will use KVH’s advanced, dual-mode TracPhone V11-IP onboard satellite communications system and mini-VSAT Broadband service for the “always-on” broadband connectivity that is essential for today’s commercial maritime operations


Asia Dry Bulk-Capesize Rates Could Rise in Short Term

File Image: a so-called ValeMax bulk carrier, commonly used in th Brazil-Asian trades (credit: Vale)

Shipowners seeking $10 per tonne from Brazil-China; dry cargo demand to remain subdued this year. Freight rates for large capesize dry cargo ships on key Asian routes may firm up next week on increased chartering activity, tighter tonnage supply and possible port disruption caused by bad weather in China, ship brokers said on Thursday. "The general consensus is there will be an improvement in rates next week," a Singapore-based capesize broker said.


Pillarstone Italy Invests to Relaunch Premuda

Pillarstone Italy said on Friday it had finalized the acquisition of 100 percent of Italy's Premuda and would invest 50 million euros ($53.5 million) to support the relaunch of the troubled shipping company. Pillarstone Italy is a platform set up by U.S


IMCA Reiterates CBP Proposal Opinion

Allen Leatt, CEO International Marine Contractors Association (IMCA)

IMCA stands behind its opinion that CBP implementation of its proposal will severely damage business in the US Gulf of Mexico.   Quote from Allen Leatt, CEO, The International Marine Contractors Association (IMCA) in response to report at marinelink


Hijacking Suspected By Somali Pirates

Map by Oceans Beyond Piracy

 Somali pirates are suspected of hijacking a bulk carrier ship on one of the world's crucial trade routes, Reuters reported.   The United Kingdom Maritime Trade Operations piracy watchdog said on its website it had received a report from a vessel under attack and possibly boarded off


South Africa Minister Delays Signing Energy Deals

South Africa's newly appointed energy minister Mmamoloko Kubayi has postponed the signing of agreements between state-run power utility Eskom and renewable energy Independent Power Producers (IPPs), Business Report newspaper said on Tuesday.


Evac Names Rudling President, Offshore and Merchant

Evac Group has appointed Claes Rudling as global Business Area President, Offshore and Merchant, effective January 23, 2017. Rudling will continue as CEO of Uson Marine, which was acquired by Evac Group in December 2016.   Rudling is a member of the Evac Group Management Team


Global Shipping Meltdown Impacts European Banks

Photo:  International Chamber of Shipping

 The collapsing maritime shipping industry is stoking another European banking headache, this time in economic powerhouse Germany, says a report in WSJ.   While the Commerzbank, Germany’s second largest bank, reported earnings


Commercial Sea Training Resumes for USMMA Cadets

USMMA Logo.jpg

The United States Merchant Marine Academy (USMMA) has announced that Sea Year training for USMMA Midshipmen will resume on three commercial carriers beginning in March 2017.   The reinstatement of the program follows the implementation of comprehensive new policies


ABS Earns EU MRV Accreditation

Christopher Wiernicki (Photo: ABS)

Greece’s National Accreditation Body recognizes ABS as EU MRV frontrunner.   ABS said it was awarded accreditation by Greece’s National Accreditation Body, the Hellenic Accreditation System (ESYD), to perform assessments for European Union (EU) Monitoring


ABS Takes the Lead as First Class Society to Earn EU MRV Accreditation

Photo: ABS

 ABS, a leading provider of classification and technical services to the marine and offshore industries, was awarded accreditation by Greece’s National Accreditation Body, the Hellenic Accreditation System (ESYD), to perform assessments for European Union (EU) Monitoring


Socio-Economic Impact of EU Shipping Industry Remains Solid

Photo: European Community Shipowners Associations (ECSA)

 The EU shipping industry directly employed 640,000 people and supported a EUR 57 billion contribution to GDP in 2015, says European Community Shipowners' Associations (ECSA)   Adding supply chain and worker spending multiplier impacts


Hapag-Lloyd 2016 Profit Dips on Weaker Box Rates

File photo: Hapag-Lloyd

FY operating profit down 66 pct and freight rates down 15.4 percent in 2016. Company says merger benefits, cost cuts help.   German container shipping firm Hapag-Lloyd on Tuesday reported a 66 percent year-on-year fall in operating profit for 2016


Bureau Veritas Gains EU Maritime MRV Accreditation

Patrick Le Dily (Photo: Bureau Veritas)

Bureau Veritas has gained accreditation from United Kingdom Accreditation Services (UKAS), in their pilot scheme, to carry out assessments and verifications for compliance with the European Union’s Maritime Monitoring, Reporting and Verification (EU MRV) regulation.  


IMO Secretary-General Urges Vigilance after Tanker Hijack

Official photograph of IMO Secretary-General Kitack Lim

In the wake of the recent hijacking of tanker Aris 13 off Puntland, Somalia, International Maritime Organization (IMO) Secretary-General Kitack Lim urged the shipping industry to be vigilant and apply diligently IMO guidance and best management practices to avert possible piracy attacks.  


KVH Ships 7,000th mini-VSAT Broadband System

 KVH Industries, Inc. has shipped more than 7,000 mini-VSAT Broadbandsm systems, designed and manufactured by KVH to provide mobile connectivity at sea. The TracPhone V-series satellite communications antenna systems are currently in use on everything from small recreational sailboats


Safety Insight on Offshore Wind Industry

Photo: Danish Maritime Authority

 New safety analysis can be used to harmonize safety on board offshore vessels carrying wind turbine technicians. The Danish Maritime Authority is striving to make the International Maritime Organization (IMO) develop international standards.  






 
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