Marine link
 

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


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


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


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 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


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


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.


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


Piracy Down by 22% in H1, Says ReCAAP

Map: Location of incidents

 A total of 36 incidents of piracy and armed robbery against ships (comprising 30 actual incidents and six attempted incidents) were reported during January-June 2017 in Asia, said a report by Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia


S. Korea's Top Three Shipyards Look Bullish

File photo: Hyundai Heavy Industries

 With a slew of contracts to be signed soon  South Korean shipyards are expected to clinch a decent number of new orders during the second half of the year, Yonhap reported quoting  industry sources.  Hyundai Heavy Industries (HHI) and its affiliates have secured a series of


Next Gen Maritime Workers Visits IMO

Photo: International Maritime Organization (IMO)

 Students from the International Association of Maritime Universities (IAMU) visited International Maritime Organization (IMO) Headquarters for their student forum (11-12 July).  Its theme was that of IMO’s World Maritime Day - “Connecting Ships, Ports and People”


Maritime Drives Ireland's Blue Economy

Photo:  Irish Maritime Development Office

 Ireland’s marine economy is outperforming Ireland’s general economy according to the latest Ocean Economy Report by the Socio-Economic Marine Research Unit (SEMRU) of NUI Galway, with shipping and maritime transport playing a key role in driving growth.  


Korean Shipyards Look Bullish

Photo: Hyundai Shipbuilding Division

 South Korea's major shipyards are estimated to have racked up solid profit during the second quarter of the year, aided by the increased delivery of ships, cost-cutting measures and a rise in new orders, Yonhap reported citing industry sources.


DVB Warns on Shipping Woes

Pic: DVB Bank SE

 Reuters reported that Germany's DVB Bank warned its 2017 pretax return on equity would likely fall short of its expected range of minus 3 percent to plus 3 percent due to high risk costs in its shipping and offshore financing portfolios.  


Using Tech to Fight Piracy on the Open Sea

With maritime piracy seen on the rise once again, the shipping industry now looks to redouble its efforts to prevent these dangerous and costly attacks.   Though piracy had been on a steep decline since 2010 due to increased security efforts and precautions taken aboard ships


IMO: Focus on GHG Emissions

Photo: International Maritime Organization (IMO)

 Nearly 300 delegates from International Maritime Organization (IMO) Member States, international NGOs and intergovernmental organizations have gathered at IMO Headquarters in London for the first meeting of the Intersessional Working Group on Reduction of Greenhouse Gas (GHG) Emissions from


J.P. Morgan Raises Distressed Shipping Fund

Photo: JP Morgan

 J.P. Morgan Global Alternatives has closed a $480 million fund to invest in distressed shipping assets, attracting capital from pensions, endowments and insurance companies, reports Financial News London.   The Global Maritime Investment Fund II


Is Container Shipping on the Mend?

File Photo: Hanjin Shipping

A new report from Drewry’s investment research arm, Drewry Financial Research Services Ltd., examines the financial health of the global container shipping industry.   In the report, Container Shipping - A Financial Health Check - Macros and Micros


Korea’s Big 3 Yards in Path of Recovery

Photo: Samsung Heavy Industries

 South Korea’s shipbuilders are expected to recover this year after suffering from a global industrywide slump, reported The Korea Economic Daily.   The report said that Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) have already achieved more than a half of


BW Offshore CEO Sees Signs of Recovery

Carl Arnet (Photo: BW Offshore)

BW Offshore, which delivers floating production services to the oil and gas industry, sees signs of an improved market.   "It's still early days but we definitely see a pick-up in discussions and tendering activity," CEO Carl Arnet said during the firm's first-quarter earnings


Greenhouse Gas Model for Shipping by 2050

Image: DNV GL

 DNV GL has published a report assessing the potential for greenhouse gas (GHG) emissions reduction from shipping towards 2050, based on a new computational model.   The model can evaluate various scenarios for both individual ship segments and the industry as a whole


South Korean Shipyards: Silver Lining for the Biggies

Photo:  Hyundai Heavy Industries Co., Ltd.

 Though South Korea’s big three shipbuilders -Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries - showing signs of fiscal recovery this year,  orders at midsized shipbuilding companies remain sparse. 


ABB Launches Emissions Monitoring Module

Photo: ABB

A new development from ABB will enable customers to monitor emissions according to the EU’s Monitoring Reporting and Verification (MRV) regulation requirements, which come into effect January 1, 2018.   ABB’s MRV module has been certified by the independent certifier Verifavia






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright