GD Gets Contract Option
The U. S. Navy has awarded General Dynamics Electric Boat, a business unit of General Dynamics, a $6 million contract option for the advanced procurement of on-board repair parts for the first four submarines of the Virginia Class. The work will be shared about equally between Electric Boat (55 percent) and Northrop Grumman Newport News (45 percent), Electric Boat's teammate in the Virginia-class construction, and will be completed by the end of 2007. The option is part of a $4.2-billion contract the Navy awarded Electric Boat in 1998 for the construction of the first four ships of the class.
Jotun Announces Strong Results
The Jotun group has four profitable months behind it and concludes the period with higher turnover, higher volumes and higher profits than for the same period in 2005. "It is pleasing to see turnover continue to increase in 2006 as well, and the profit for the first four months bodes well for the rest of the year," said Morten Fon, President and CEO of the Jotun group. The positive developments from 2005 have continued in 2006, and during the first four months of the year Jotun had sales and operating income of NOK 2.4 billion, NOK 333 million higher than for the same period in 2005. The group's ordinary profit before tax was NOK 220 million, compared with NOK 163 million in 2005.
New Orleans Port Regaining Most of Pre-Katrina Cargo
The Port of New Orleans, which sustained heavy damage from Hurricane Katrina, had regained nearly 94 percent of its pre-storm cargo by the end of May, according to figures released by the port Friday. The port went through a dismal four-month stretch following Katrina's strike on Aug. 29 that included a 12-day shutdown, the loss of about one-third of its operating capacity and the rerouting of cargo to other ports by several shipping lines. But figures compiled for the first four months of 2006, the latest available, showed that the tonnage of general cargo handled at the port was only 3.8 percent lower than the first four months of 2005. General cargo includes goods shipped in containers and breakbulk cargo, such as steel and rubber, that is transported on pallets.
China Overtakes Korean Shipbuilding
South Korean shipbuilders were overtaken by their Chinese rivals in new orders acquired in the first four months of the year, a London-based market researcher said on Wednesday. South Korean shipbuilders such as Hyundai Heavy Industries Co and Samsung Heavy Industries Co received a combined 6.9 million compensated gross tons (CGTs) in new orders in the January-April period, up 6.9% from a year ago, Clarkson Research Studies said. However, South Korea maintained its No 1 ranking in the global shipbuilding industry in terms of backlogs of orders and the volume of vessels built, the market researcher said. South Korean shipbuilders' combined backlogs of orders totaled 46.4 million CGTs as of the end of April…
GD Awarded $6M Contract Option
The U.S. Navy has awarded General Dynamics Electric Boat a $5.9 million contract option for advance procurement of on-board repair parts for the first four submarines of the Virginia Class. Electric Boat is a wholly owned subsidiary of General Dynamics. The option is part of a $4.2 billion contract the Navy awarded Electric Boat in 1998 for the construction of the first four ships of the class. The work will be shared between Electric Boat (55 percent) and Northrop Grumman Newport News (45 percent), Electric Boat's teammate in the Virginia- class construction, and will be completed by December 2007.
Paradip Port Cargo Volume Looks Up
Among five major ports on the east coast Paradip Port topped the list with 28.65 million tonnes of cargo for the first four months, followed by Chennai Port 17.42 million tonnes, V.O.C Port 13.07 million tonnes, Krishnapatnam Port 11.57 million tonnes and Kamarajar Port close to 9 million tonnes. The five ports have collectively handled about 80 million tonnes of cargo during the first four months of the current fiscal year, fuelled by imports of coal and petroleum, oil and lubricant (POL) products.
Eight Vessel Order Signals Good Times are Back in GOM?
Hornbeck-Leevac Marine Services, Inc. announced today that its Board of Directors has approved a new vessel construction program for its wholly-owned subsidiary, Hornbeck Offshore Services, LLC. This is the company's third such program since its inception five years ago - the first two were seven and six vessel programs, respectively. The current plan is to build eight additional state-of-the-art, deepwater OSVs, with construction of four 240-ft. DP-2 Class vessels to commence as soon as a definitive agreement has been signed with the selected shipyard. The company has signed a letter of intent for the first four vessels with one of the shipyards currently constructing vessels for Hornbeck and, therefore, anticipates prompt contract execution.
China Shipbuilding Winning More Orders
According to a report from Bloomberg, China State Shipbuilding Corp.'s orders improved significantly from a year ago as the global economy and shipping business recovered, a company executive said. The state-owned company has won orders of about 40 million deadweight tons through the year 2012. Chinese shipyards almost doubled production in the first four months of the year as the end of the credit crunch and rebounding global trade revived demand for new ships. (Source: Bloomberg)
MacGregor Secures Eight Additional PIL Container Ships
MacGregor, part of Cargotec, has secured a further order from Dalian Shipbuilding Industry Co Ltd, in China, for its variable frequency drive (VFD) electric cranes. The 32 MacGregor electric cranes have been specified for eight more 3,900 TEU container vessels being built at the yard for Singapore-based Pacific International Lines (PIL). The deliveries are planned for 2014 and 2015. The new order builds on a previous contract that MacGregor announced in January for 16 electric cranes for the first four in the series, also under construction at Dalian.
Jones Act OSV New-build Program Expanded by Hornbeck Offshore
Hornbeck Offshore expands OSV new-build program, anounces retrofits & other related developments. The Company has exercised the first four of its 48 options to build additional HOSMAX vessels at an aggregate incremental cost of approximately $180 million, excluding construction period interest, for vessel deliveries in the fourth quarter of 2014 and first quarter of 2015. These four new vessels will expand the Company's fifth OSV newbuild program, which was announced in November 2011…
Crowley to Expand Petroleum Fleet and Service Offerings
Crowley Maritime Corporation announced today that it will continue to grow its fleet of petroleum vessels and enhance service to customers by contracting with Aker Philadelphia Shipyard Inc. (APSI) to build up to eight product tankers for delivery between 2015 and the end of 2017. Construction contracts have been signed with APSI for the first four 330,000-barrel tankers with deliveries in 2015 and 2016. Additional agreements between the two parties include options for building…
Navy to Base First Four LCS in San Diego
The Navy announced today that the first four Littoral Combat Ships LCS) will be homeported at Naval Station San Diego, Calif. scale. efficiencies are developed. Quadrennial Defense Review. establish synergy between the ships and with local commands," said Vice Adm. Terry Etnyre, commander, Naval Surface Forces, based in Coronado, Calif. innovative and tailored mission modules. unmanned vehicles, off-board sensors, and mission-manning detachments. warfighting missions. warship designed to provide assured access for our joint forces. carrier strike groups, expeditionary strike groups or surface strike groups. The innovative concepts in LCS do not end with its modularity. maintenance, logistics, training and administration. Independence (LCS 2), on Jan. 19, 2006.
Eimskip Braces for Negative First-Half Returns
Iceland's largest shipping company Eimskip warned on Wednesday that rising costs and ballooning foreign exchange losses would have a "very negative effect" on its first-half results. Eimskip said in a statement operating conditions in the first four months of the year had been extremely unfavorable. "Although the company's operating income in this period was in line with schedule, recent increases in domestic and foreign costs, as well as huge exchange rate losses from foreign loans, will have a very negative effect on the outcome for the first half of the year," the company said in a statement. Eimskip said it had made a net loss in the first four months of the year of about 1.2 billion crowns ($11.5 million).
Bahrain CG Boats Arrive at Abu Dhabi Shipbuilding
The first four Bahraini Coast Guard boats arrive at Abu Dhabi Ship Building. Four Bahrain Coast Guard boats arrived at the Abu Dhabi Ship Building (ADSB) shipyard in Mussafah, Abu Dhabi, to undergo a major refit and upgrade program. These are the first four boats out of a total of ten boats that will be refitted and upgraded under a contract signed with the Bahrain Government in late 2007. The contract provides for the complete refurbishment of the vessels including new propulsion and auxiliary machinery, accommodation facilities and navigation equipment.
Panama Canal Expansion Lock Gates Arrive
In a major milestone for the Panama Canal Expansion Program, the first four gates for the new locks have arrived from the port of Trieste, Italy to the waterway's Atlantic side on board the semi-submersible vessel 'STX Sun Rise'. "This is an exciting moment for the Panama Canal - the arrival of the new gates marks a great progress for this engineering project," Panama Canal Administrator Jorge L. Quijano said. Built by subcontractor Cimolai SpA, the first four gates are 57.6 m long, 10 m wide and 30.19 m high, and weigh an average of 3,100 tons.
Rolls-Royce To Supply 4 Designs And Vessel Systems To COSCO
COSCO Shipyard Group has announced that it has been awarded options by the Singapore-based Chellsea Group for the construction of four platform supply vessels designed by Rolls-Royce. With this contract, COSCO has ordered integrated design and equipment packages for a total of eight Rolls-Royce UT 771 WP platform supply vessels, with an option for further two. The first four are currently under construction, while the subsequent four are scheduled for delivery between the second quarter of 2016 and the first quarter of 2017.
Chellsea Expands PSV Order from COSCO, Rolls-Royce
COSCO Shipyard Group announced that it has been awarded options by the Singapore-based Chellsea Group for the construction of four platform supply vessels designed by Rolls-Royce. With this contract, COSCO has ordered integrated design and equipment packages for a total of eight Rolls-Royce UT 771 WP platform supply vessels, with an option for further two. The first four are currently under construction, while the subsequent four are scheduled for delivery between the second quarter of 2016 and the first quarter of 2017. All eight vessels will be added to the fleet of two UT 755 LN vessels that are already in operation with Chellsea.
Malaysian Offshore Operator's Newbuilding Program
Malaysia-based offshore oil field services provider, Bumi Armada Berhad (“Bumi Armada”), announce its newbuild programme, ’Steel on Water 2’ Bumi Armada Berhad has issued a Letter of Intent (“LOI”) for four Multi-Purpose Platform Support Vessels (“MPSV”), with an option to build four additional units. This newbuild programme follows fast on the heels of the company’s ‘Steel on Water 1 Programme’ of 20 newbuilds which were all successfully delivered by 2010. The LOI was issued by Bumi Armada Bhd, to Nam Cheong Dockyard Sdn Bhd for the construction of the first four diesel-electric propulsion system, DP2″ MPSVs. The four MPSVs will cost approximately USD 130 million (excluding owner furnished equipment) and are expected to be delivered in the second quarter of 2014.
Good start for Jotun in 2004
more than for the same period in 2003. last year. more closely reflected the group's growth. Profit in 2003 was one of the biggest in Jotun's history. materials and reduced margins. total can be maintained at a satisfactory level and similar to last year. Middle East and South-East Asia. companies were higher than the previous year. in the Middle East. systems for mixing colors in stores. this area. year. influence on the division's profit. time and will not give rapid financial results. Norway. In Europe activity varied. in the USA sales increased.
Cunard Installs Four Rolls Royce Pods On QM2
All four pods have now been fitted to Cunard Line's $780-million Queen Mary 2, currently in the final stages of construction at the Chantiers shipyard here. The milestone marks the first four-pod installation ever. The powerful Rolls Royce Mermaid propulsion system, which was designed for QM2, is rated at more than 85 MW. The four pods will provide a speed of nearly 30 knots, making her the fastest ocean liner in the world after its sister QE2. The new Cunard flagship is on schedule to sail its maiden voyage from Southampton, U.K., to Fort Lauderdale, Fla., on January 12, 2004.
Crude Oil Tanker Demolition Bucking the Trend -BIMCO
Four very large crude carriers (VLCC) have been sold for demolition since October 2016, matching the number of VLCCs sold for demolition in the preceding two years, according to BIMCO. Most recently the 1999-built double-hull VLCC with the framing name Good News returned $15.5 million to the ship owner, as demolition prices have reached levels not seen since first half of 2015 ($400 per ltd). “January struck an upbeat tone for demolition in all sectors, but the overall pace of fleet renewal, via demolition, has slowed down since then,” said BIMCO’s Chief Shipping Analyst Peter Sand.
Warship HMS Duncan Commissioned
'HMS Duncan', the sixth and last of the Royal Navy's new-generation Type 45 destroyers, has been formally commissioned into the fleet. Hundreds of guests, including families of the 190-strong ship’s company, attended the ceremony marking the ship’s transition into front line service. Principal guests at the commissioning ceremony included Lady Marie Ibbotson – the ship’s sponsor who launched the vessel at BAE Systems ’ Govan shipyard on the River Clyde in October 2010 – and First Sea Lord Admiral Sir George Zambellas.
OceanSaver to Deliver First Commercial Order to Höegh
OceanSaver announces that its ballast water treatment system has formalized an order by Höegh Fleet Services for 10 such systems on its managed fleet of car and gas carriers. The first four systems will be delivered in 2008 – two on Höegh's Horizon-class car carrier newbuildings under construction in , and two on car carriers that Höegh will retrofit. The UN has defined transport of invasive marine species in ballast water as one of the four greatest threats to the world's oceans. Introduction of a new species of jellyfish to the cost local industries USD 200 million annually. A similar problem with zebra mussels in the was estimated to cost USD 500 million over 10 years.