Equipment Maker News

01 Apr 2020

Remote Surveys Becoming Business as Usual

© Nightman / Adobe Stock

Remote vessel and equipment surveys have been available in the maritime world for years, but classification societies are seeing increased demand for these services as more firms turn to digital solutions to continue business during the coronavirus outbreak.Using real-time video communication tools, and even drones and robotics when applicable, surveyors are able to work with stakeholders to perform inspections without having to be on site, which is especially beneficial amid current COVID-19 travel restrictions.ABS…

23 Oct 2019

Caterpillar Profit Dips; 2019 Outlook Cut

Caterpillar Inc reported a 13.5% fall in quarterly profit on Wednesday, hit by weak demand in its construction and resources units, and the company cut its 2019 profit forecast.Profit attributable to common stockholders fell to $1.49 billion, or $2.66 per share, in the third-quarter ended Sept. 30, from $1.73 billion, or $2.88 per share, a year earlier.Total sales and revenue fell 5.6% to $12.76 billion.The world's biggest construction and mining equipment maker cut its 2019 earnings expectation to $10.90 to $11.40 per share, compared with its previous estimate of $12.06-$13.06.Reporting by Rachit Vats

23 Aug 2019

Chart Gets Order for Calcasieu Pass LNG

Map courtesy: Venture Global LNG

U.S. LNG equipment maker Chart Industries has received full notice to proceed (FNTP) regarding its production of cold boxes and brazed aluminium heat exchangers for Venture Global’s 10 million tpy Calcasieu Pass LNG export terminal project.The U.S. Federal Energy Regulatory Commission (FERC) approved Venture Global LNG request to proceed with full site preparation at its proposed 10 million tonnes per annum (MTPA) export terminal in Louisiana earlier this week.Venture Global recently…

12 Apr 2018

For Hire: Battery Hybrid PSVs

Image: Seacor

Systems integrator and equipment maker Rolls-Royce has quietly been adding hybridizing energy-storage packages to a diverse list of vessels. Yet, so, too, has one of its clients — Louisiana-based SEACOR Marine, as it reacts early to tightened emissions and energy-management standards, or EMS, for vessels plying Europe and North America. Fuel savings and energy-company clients seeking green credentials are, it turns out, just part of the upside driving battery retrofits.The fuel savings to be had for keeping thrusters on battery power are a powerful selling point, to be sure.

14 Dec 2016

ZAMAKONA Completes "J UAN THING" Refit

Juan de la cosa Photo SHIPYARD ZAMAKONA PASAIA

Shipyard Zamakona Pasaia completed last week the repair and maintenance of health dry rescue ship and maritime assistance "JUAN THING" the Social Marine Institute. The ship 75 meters long by 14 meters wide, has required the implementation of various repairs and general maintenance related to the compulsory performances Captaincy and Classification Society as well as reviews of critical equipment of the ship such as Propellers azimuthal Line Axis, or Stabilizing fins. Notably, there has been a complete dismantling of the propellers under the supervision of technical equipment maker Wartsila .

31 Oct 2016

GE to Merge Oil & Gas Unit with Baker Hughes

Photo: GE

General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc, creating the world's second-largest oilfield services provider as competition heats up to supply more-efficient products and services to the energy industry after several years of low crude prices. The deal to create a company with $32 billion in annual revenue will combine GE's strengths in making equipment long-prized by oil producers with Baker Hughes's expertise in drilling and fracking new wells.

25 Oct 2016

Caterpillar CEO to Retire, Successor a Company Veteran

Caterpillar Inc insider Jim Umpleby will become chief executive of the heavy equipment maker on Jan. 1, faced with the challenge of reversing a multiyear sales decline triggered by the global commodities slump. He replaces Doug Oberhelman, who will retire as CEO on Dec. 31 but stay on as executive board chairman until March 31, the company said on Monday. Caterpillar shares were down about 0.58 percent to $87.20. Under Oberhelman the company recorded record high revenue in 2012, two years after he became CEO. However, a decline in metals and oil prices hit the company hard and its sales have fallen since 2013. A 35-year company veteran, Umpleby must grapple with Caterpillar's sober outlook.

02 Sep 2016

MaK, Caterpillar to Partner DNV GL for Condition Based Monitoring

Courtesy Caterpillar

MaK together with Caterpillar’s Marine Asset Intelligence organization has announced that they have partnered with DNV GL to help make the change from time based maintenance to condition based maintenance by leveraging the predictive analytics of Cat Asset Intelligence in accordance with DNV GL’s Survey Arrangement Machinery Condition Monitoring (CM) requirements. The Survey Arrangement of DNV GL recognizes, across multiple dimensions, the value that an industry leading condition based monitoring system such as Cat Asset Intelligence provides to ship owners.

28 Jan 2016

Caterpillar Q4 Revenue Dips 23 pct

Caterpillar Inc's quarterly revenue slumped 23 percent as weak commodity prices and slowing economic growth in developing countries hit demand for its products. The world's largest construction and mining equipment maker's total sales and revenue fell to $11.03 billion in the fourth quarter ended Dec. 31, from $14.24 billion a year earlier. Caterpillar reported a quarterly loss attributable to common stockholders of $87 million, or 15 cents per share, compared with a profit of $757 million, or $1.23 per share, a year earlier. Excluding restructuring costs, Caterpillar earned 74 cents per share, compared with $1.35 per share.   Reporting by Ankit Ajmera

14 Aug 2015

Chinese Port Blast Kills 50, Injures 700 More

Two huge explosions tore through an industrial area where toxic chemicals and gas were stored in the northeast Chinese port city of Tianjin, killing at least 50 people, including at least a dozen fire fighters, officials and state media said on Thursday. At least 700 people were injured, more than 71 seriously, the Tianjin government said on its Weibo microblog, and the official Xinhua news agency said two fires were still burning. Wednesday night's blasts, so large that they were seen by satellites in space, sent shockwaves through apartment blocks kilometres away in the port city of 15 million people. Internet videos showed fireballs shooting into the sky and the U.S. Geological Survey registered the blasts as seismic events.

13 Aug 2015

At Least 50 Dead in Chinese Port Blast, 700 Injured

Two huge explosions tore through an industrial area where toxic chemicals and gas were stored in the northeast Chinese port city of Tianjin, killing at least 50 people, including at least a dozen fire fighters, officials and state media said on Thursday. At least 700 people were injured, more than 71 seriously, the Tianjin government said on its Weibo microblog, and the official Xinhua news agency said two fires were still burning. Wednesday night's blasts, so large that they were seen by satellites in space, sent shockwaves through apartment blocks kilometres away in the port city of 15 million people. Internet videos showed fireballs shooting into the sky and the U.S. Geological Survey registered the blasts as seismic events.

17 Jun 2015

National Oilwell Varco to Cut 1,500 Norwegian Jobs

National Oilwell Varco Inc., the largest U.S. oilfield equipment maker, said it will cut its Norwegian workforce by 1,500 by the end of this year as low oil prices have reduced investments. It plans to cut 900 permanent jobs and 600 contractors, the firm said in a statement on Wednesday. "The reason for the lay-offs is the big change in the market situation for our industry over the last year with reduced investments and reduced sale of new equipment," it said. "The uncertain market situation also means that we can't say how comprehensive the process of laying off people will be in the longer term". Norway's Statoil said on Tuesday it will cut up to 7 percent of its workforce and a third of its consultants by the end of 2016…

12 Jan 2015

Onex Buys Safety Fim Survitec

Onex buys Survitec from Warburg Pincus for 450 mln stg. Canadian private equity firm Onex has bought UK safety and survival equipment maker Survitec from Warburg Pincus for 450 million pounds ($679.7 million), Warburg Pincus said on Monday. Survitec, which makes equipment from lifejackets to anti-gravity suits, had 234 million pounds in revenues in the year to March 31, 2014. Warburg Pincus bought Survitec from private equity group Montagu in 2010 for 280 million pounds. Reuters reported last year that the U.S. private equity house had been looking to sell the company, potentially for over 500 million pounds.   Reporting By Freya Berry

11 Jul 2014

Cargotec to Supply Equipment for OSVs

MacGregor, a part of Finnish cargo-handling equipment maker Cargotec, has won an order to supply equipment for vessels to be built for Bumi Armada Berhad, a Malaysia-based international offshore oilfield services provider, Cargotec said on Friday. The order includes delivering equipment for three ice-class vessels and a shallow water pipe laying barge by mid-November, and the gain will be booked into the second quarter results, the company said in a statement. Cargotec did not provide the value of the deal. Reporting by Nerijus Adomaitis

18 Apr 2014

When Will Deep Sea Mining Commence? The Robot is Ready

copyright Nautilus Minerals

The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high grade copper and gold from the seabed off Papua New Guinea (PNG) - when a wrangle over terms is solved. Beyond PNG, in international waters, regulation and royalty terms for mining the planet's subsea wealth have also yet to be finalised. The world waits for the judgement of a United Nations agency based in Jamaica. "If we can take care of the environment we have a brand new day ahead of us.

21 Mar 2012

Alstom Wind Sees Turbine Growth in Europe Offshore Bids

Alstom SA, the third-largest power-equipment maker, expects higher sales for its wind turbines this year and next, buoyed by growing demand in Brazil and offshore bids in Europe. “We’ve improved all our financial indicators this fiscal year,” ending March, compared with last year, including sales, order intake and operational performance, Alstom renewable unit chief Jerome Pecresse said in a March 15 interview. “We’re seeing strong growth of the Brazilian market this year,” Pecresse said at company headquarters near Paris. “We’re also seeing the pickup of the offshore wind industry in Europe,” which should account for “several gigawatts of new installs per year” within five years. Alstom entered the wind market through the purchase of Spain’s Ecotecnia in 2007.

07 Apr 2000

Caterpillar Buys Marine Engine Company

Heavy equipment maker Caterpillar Inc. bought closely held Sabre Engines Ltd., a U.K.-based company that specializes in high-performance marine diesel engines. Terms of the deal were not released. "The benefit to our customers and the marine industry is that boat builders will be able to one-stop-shop a wider horsepower range for Caterpillar marine power systems," Douglas Oberhelman, Caterpillar vice president with responsibility for the company's Engine Products Division," said. Caterpillar said it already sells 27 different engine models and sells more marine diesel engines over 250 bhp than any other manufacturer in the world. The addition of Sabre Engines Ltd. will add to Caterpillar's offering of marine power systems below 300 bhp.

06 Apr 2000

Caterpillar Buys Marine Engine Company

Heavy equipment maker Caterpillar Inc. bought closely held Sabre Engines Ltd., a U.K.-based company that specializes in high-performance marine diesel engines. Terms of the deal were not released. Caterpillar already sells 27 different engine models and sells more marine diesel engines over 250 bhp than any other manufacturer in the world. The addition of Sabre Engines Ltd. will add to Caterpillar's offering of marine power systems below 300 bhp. Sabre has had a cooperation agreement with small and medium industrial engine maker Perkins Engines Company Ltd., a wholly owned subsidiary of Caterpillar, since 1991. Under the agreement, Perkins sells core engines to Sabre for marinization.

19 Jun 2000

SAIT-Stento To Issue 1.2M New Shares

Communications services group SAIT-Stento will issue 1.2 million new shares at a maximum price of 32 euros each to make its stock more liquid and raise money for future acquisitions. SAIT-Stento, recently formed through the merger of Belgian communications services group Sait-RadioHolland and Norwegian telecommunications equipment maker Stento SAS, also said it expects to break even or even post better results in 2000. Revenues for the combined company should rise above year-ago levels on a pro-forma basis, it added. The merger partners posted combined revenues of 396 million euros in 1999. SAIT-Stento will offer to sell 70 percent of the 1.2 million shares to existing shareholders and the remaining 30 to the public. SAIT-Stento reportedly plans to change its name in the next few months.

15 Jan 2001

Saab Sells Marine Electronics Business To Emerson

Sweden's Saab sold its Marine Electronics unit to U.S. electric equipment maker Emerson Electric Co. for $85.5 million. The price corresponded to 1.6 times the unit's 1999 turnover. "The deal would have a positive effect on Saab's net cash flow", Saab said in a statement. The disposal was part of Saab's strategy of realizing value for shareholders from the commercial operations of the group's military technology, it said. Saab's marine electronics unit is a world leader in radar equipment that measures tank levels. The unit's products are sold to customers in the shipping and oil industries.

02 Nov 2007

Rowan Profits Jump in 3Q

Rowan Companies, Inc. said profit in the third quarter jumped 50% on overseas demand for its offshore oil rigs and drilling services. The Houston drilling contractor and equipment maker said profit in the three months ended Sept. 30 rose to $130.8m, or $1.16 a share, from $87m, or 78 cents a share, in the year-earlier period. Profit in the most recent quarter included a penny a share in gains on asset sales. Revenue rose 20% to $502.2m, short of the $530m anticipated by Wall Street. Shares fell 2.1% to $38.17 by the close compared with a 1% drop in the Philadelphia Oil Service Index. Rowan said revenue from its drilling operations rose 27% to $369m as the pace of activity on its offshore rigs quickened, and it got paid more for daily operations.

22 Oct 1999

Bollore May Sell Intertechnique

France's Bollore does not expect lackluster operating income to fully rebound before 2001 and may sell its stake in Intertechnique to boost earnings. Vincent Bollore, head of the conglomerate said that the low freight rates hurting its shipping activities could remain weak for "several months," meaning a recovery in operating profit was unlikely before 2001. Bollore reported a fall in operating income in the first half to $43.4 million versus $74 million in the same period a year ago, but a capital gain on the sale of its shares in Pathe helped boost net attributable profit by 24 percent to $42.4 million.

20 Aug 2001

Thrane & Thrane Buys Nera's Satellite Units

Danish satellite communication equipment maker Thrane & Thrane said on Monday it bought the satellite units of Norwegian Nera for around half a billion Danish crowns ($61.5 million), sending its shares to a four-month high. For the two units Nera SatCom and Nera WBA Satellite, Thrane & Thrane will pay 235 million crowns in cash and around three million new shares corresponding to around 40 percent of Thrane's total capital after a share capital increase. "The intention is to create a leading manufacturer within satellite ground equipment with the strength to participate in both the mobile and the broadband market segments," Thrane said in a statement.

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