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Industrials News

30 Jan 2023

HII Names Chewning EVP Strategy & Development

Eric Chewning (Photo: HII)

Eric Chewning, former chief of staff to the U.S. Secretary of Defense and deputy assistant secretary for industrial policy, is joining HII as executive vice president, Strategy & Development, reporting directly to HII President and CEO Chris Kastner. Chewning assumes the role on Jan. 30.Chewning joins HII as it grows its customer set across the armed forces and executes on its significant shipbuilding backlog for its primary customer, the U.S. Navy. HII is the nation’s only builder of aircraft carriers and its largest military shipbuilder…

27 Jul 2022

Kelleher to Succeed Tivnan as Ardmore Shipping CFO

Tanker owner/operator Ardmore Shipping Corporation on Wednesday announced the planned departure of its current chief financial officer Paul Tivnan and appointment of new CFO Bart Kelleher, effective September 28, 2022.Anthony Gurnee, Ardmore's chief executive officer, said, Kelleher and Tivnan will overlap and work together from September 1 to "achieve an orderly and well-planned transition".Kelleher brings to the role more than 25 years of progressive experience in the maritime, finance, energy and industrials sectors, having most recently served as chief executive officer of Chembulk Tankers. He previously served as both Chief Strategy Officer and Chief Financial Officer of the firm, and prior to that, was the chief operating officer of Principal Maritime Management.

09 Jul 2021

South Korea's Container Squeeze Throws Exporters into Costly Gridlock

© Mariusz / Adobe Stock

Unable to get a slot on a container vessel, Lee Sang-hoon is considering using fishing trawlers docked for repair in the South Korean port of Busan to meet surging export orders for the car engine oil he sells to Russia."China is the black hole in this shipping crisis, all the carriers are headed there," said Lee, owner of Dongkwang International Co. in Busan which makes about 20 billion won ($17.60 million) in annual revenue."Those fishing boats out there could be an answer for us because we're already one month behind schedule.

13 Aug 2020

Indian Solar Ferry Flies Flag for Cleaner, Cheaper Water Transport

(Photo: State Water Transport Department, Government of Kerala)

Over the past three years, P. Ravindran’s commute from his southern Indian village has been about more than getting to work - the SIM card seller sees his daily trip on India’s first solar-powered ferry as doing his bit for the green revolution.“I am proud to be a frequent traveler on the Aditya... I am being part of cleaning the Earth,” said Ravindran, who uses the boat most days to travel to the town of Vaikom on Lake Vembanad.The Aditya’s green credentials have attracted international…

12 Aug 2019

UK Offshore Wind Attracts Investments

Power companies including Ørsted, Vattenfall, Innogy, SSE and Scottish Power and financial investors such as infrastructure and pension funds are active in UK offshore wind power, said Deloitte.Japan, China and other countries in Asia are also showing increasing interest in the market, it said.With natural advantages including a long coastline, high wind speed and areas of shallow seabed providing desirable conditions for the construction of large offshore wind farms, the UK is the world's leading offshore wind power market.There is 7.9 GW of offshore wind capacity in the UK already and the government has set an ambitious target of over 30 GW by 2030. Accounting for 14.7% of the total power generation, offshore wind power has seen substantial growth in the UK.

18 Oct 2018

Carlyle Group Acquires EnerMech from Lime Rock Partners

Global alternative asset manager The Carlyle Group announces that it has agreed to acquire EnerMech Group Ltd, an international services company providing critical asset support to the energy, infrastructure and industrials sectors, from Lime Rock Partners.The transaction is expected to close in Q4 2018, subject to customary anti-trust and regulatory approvals.Equity for this investment will come from Carlyle International Energy Partners (CIEP), a $2.5 billion fund that invests in the global oil and gas sector outside North America. The Fund’s mandate includes exploration & production, mid-stream, downstream and oil field services.

01 Oct 2018

Stolt-Nielsen LNG, Golar LNG and Höegh LNG in Joint $182 Million Investment

Niels G. Stolt-Nielsen (CREDIT: Stolt)

Stolt-Nielsen Limited (Oslo Børs: SNI), Golar LNG Ltd and Höegh LNG Holdings Ltd. announced a combined investment commitment of $182 million in Avenir LNG Ltd. to pursue opportunities to deliver LNG to areas of stranded demand, as well as the development of LNG bunkering capabilities.The investment will be contributed as cash and equity-in-kind and will fund the construction of six small-scale LNG carriers, a small-scale storage terminal and regasification facilities.Avenir LNG was formed by Stolt-Nielsen in 2017 to provide LNG to markets lacking access to natural gas pipelines.

12 Sep 2018

Engineering Woes Seen as Litmus Test for Thyssen Interim CEO

Guido Kerkhoff (Photo: Thyssenkrupp)

The response to troubles at Thyssenkrupp's plant engineering and shipbuilding division could determine whether interim boss Guido Kerkhoff has a realistic shot at keeping the top job, three people familiar with the matter said.Settling who will succeed Heinrich Hiesinger, who left in July over a strategy clash with leading shareholders, will help to determine whether Thyssenkrupp clings on to its conglomerate structure or seeks ways to simplify its business.The 50-year-old Kerkhoff, who served as finance chief under Hiesinger and was given the top job pending the appointment of a permanent suc

11 Sep 2017

OOIL Signs the United Nations Global Compact

Orient Overseas (International) Limited (OOIL), a company with principal business activities in container transport (OOCL) and logistics services (OOCL Logistics), is delighted to announce its joining of the United Nations Global Compact (UNGC). "As a signatory, we are honored to be the first Hong Kong-based enterprise in the international transportation and logistics industry to take part in this important initiative," said a statement from OOIL. Through our business strategies, operation, corporate culture, and continual engagement in the Sustainable Development Goals (SDG) set out by United Nations, we are committed to supporting the Ten Principles of the UNGC that sets out fundamental responsibilities in areas such as human rights, labour, environment and anti-corruption.

31 May 2017

Dover Launches Windrock Enterprise

Dover Energy Automation announced the launch of a new enterprise solution that has the power to simplify a multitude of challenges that executives face while evaluating equipment reliability and efficiency across the enterprise. The press statement says that the key value of Windrock Enterprise is found in its ability to provide real-time remote visibility of an entire fleet of assets at the same time. This is a dramatic improvement compared to the previously limited and incongruent views of data that would be collected from singular pieces of equipment whose connection methods isolated them from the remainder of the fleet. Essentially…

19 Feb 2015

CMA CGM Opens 3CTC Terminal

Rodolphe Saadé (Photo courtesy: CMA CGM)

The CMA CGM Group inaugurated its new logistics platform, the 3CTC Terminal (CMA CGM Cameroon Container Terminal), on February 19, 2015. The 3CTC platform has been operational since January 7, 2015, and its concession attributed for 25 years. It is located in an area between Douala and the port, where it occupies two hectares. With this new platform, the CMA CGM Group offers its clients a range of logistics solutions, including full and/or empty containers storage in a 1,200 square meters secured area and merchandises land transportation in Cameroon, Chad and Central African Republic.

25 Jan 2015

Hiab Debuts Biggest Crane - HIAB X-HiPro 1058

Hiab, part of Cargotec, is set to launch the biggest crane to date in its high capacity range, the HIAB X-HiPro 1058. This signposts the first in a series of launches, as Hiab prepares to deliver major quality, performance and economy improvements across its heavy lift range. Developed to meet increasingly critical requirements, the HIAB X-HiPro 1058 boasts a series of unique features, all of which have been designed to improve productivity and reliability, and to reduce lifetime ownership costs. With a capacity of 90tm and a horizontal outreach of up to 34.5 metres with a jib, and up to 38 metres vertically, this extra capacity crane is ideal for lifting heavy and bulky materials. Hiab's market leading load handling technology has also been developed with the body builder in mind.

11 Nov 2014

Caterpillar's Rich Moore to Speak at Goldman Sachs 2014

Caterpillar Inc. Director of Investor Relations Rich Moore will speak at the Goldman Sachs 2014 Industrials Conference on Thursday, November 13. He is scheduled to speak at 11:20 a.m. Eastern Time. No presentation materials will be available. The event will be webcast in real-time and available to the public at http://cc.talkpoint.com/gold006/111214a_ae/?entity=27_YBH7YN4. Listeners should go to the website at least 30 minutes before the live event to register and to download and install any necessary audio software. The webcast will be available for replay for 90 days; no transcripts from the presentation will be made available.

18 Sep 2014

Caterpillar to Participate in Citi 2014 Industrials Conference

Caterpillar Inc. Vice President with responsibility for Strategic Services Mike DeWalt and Director of Investor Relations Rich Moore will speak at the Citi 2014 Industrials Conference on Tuesday, September 23. They are scheduled to speak at 2:45 p.m. Eastern Time. The presentation materials will be available at caterpillar.com/presentations. The event will be webcast in real-time and available to the public at http://www.veracast.com/webcasts/citigroup/industrials2014/09210239792.cfm. Listeners should go to the website at least 30 minutes before the live event to register and to download and install any necessary audio software. The webcast will be available for replay for 90 days; no transcripts from the presentation will be made available.

09 Aug 2014

Caterpillar to Participate in the Jefferies 2014 GIC

Caterpillar Inc.  Director of Investor Relations Rich Moore will speak at the Jefferies 2014 Global Industrials Conference on Tuesday, August 12. He is scheduled to speak at 2 p.m. Eastern Time. The presentation materials will be available at ttp://www.caterpillar.com/en/investors/events-and-presentations/events-calendar.html. The event will be webcast in real-time and available to the public at http://wsw.com/webcast/jeff84/cat. Listeners should go to the website at least 30 minutes before the live event to register and to download and install any necessary audio software. The webcast will be available for replay for 90 days; no transcripts from the presentation will be made available.

30 May 2014

HII to Webcast at Deutsche Bank Chicago Conference

Huntington Ingalls Industries informs it will present at Deutsche Bank's fifth annual Global Industrials and Basic Materials Conference on Thursday, June 5, 2014 in Chicago. The presentation by HII President and Chief Executive Officer Mike Petters and Corporate Vice President and Chief Financial Officer Barbara Niland will begin at 10 a.m. Eastern time and will be webcast on www.huntingtoningalls.com About HII Huntington Ingalls Industries designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. For more than a century, HII has built more ships in more ship classes than any other U.S. naval shipbuilder at its Newport News Shipbuilding and Ingalls Shipbuilding divisions.

20 Feb 2014

Ziff Energy, GPMi Launch LNG Study

Ziff Energy and Gas Processing Management Inc. analyze the gas growth areas of the Western Canadian Sedimentary Basin in Alberta and British Columbia. Ziff Energy, a division of HSB Solomon Associates LLC (Solomon), and Gas Processing Management Inc. (GPMi) announced the launch of the Gas West for LNG Growth Study, which analyzes the gas growth areas of the Western Canadian Sedimentary Basin in Alberta and British Columbia as key suppliers of natural gas to the developing liquefied natural gas (LNG) facilities on the West Coast of British Columbia (Canada) and Oregon (United States). The proponents of 16 natural gas liquefaction (NGL) and export facilities have applied to the Canadian National Energy Board for licenses to export gas volumes or have announced potential projects.

13 Feb 2013

Kværner Profits Slip, Bulging Order Book

Kværner ASA issue fourth quarter and preliminary annual financial results 2012. Kvaerner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million, resulting in an EBITDA margin of 4.1 percent. The order backlog amounted to NOK 21 262 million. Operating revenues in the fourth quarter 2012 amounted to NOK 2 930 million, compared with NOK 3 004 million for the fourth quarter 2011. Full year operating revenues totalled NOK 10 748 million, compared with NOK 13 295 for the full year 2011. The reduction from last year is mainly due to significant decrease in operating revenue from the International business area and the Downstream & Industrials segment.

13 Feb 2013

Kværner ASA : Q4 & Preliminary 2012 Results

Kværner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million, resulting in an EBITDA margin of 4.1 percent. The order backlog amounted to NOK 21 262 million. "The record high order backlog provides a good foundation for the activity level over the next years. Furthermore, it provides us with a strong basis to optimise our execution and improve our competitiveness", says Jan Arve Haugan, President & CEO of Kvaerner. Operating revenues in the fourth quarter 2012 amounted to NOK 2 930 million, compared with NOK 3 004 million for the fourth quarter 2011. Full year operating revenues totalled NOK 10 748 million, compared with NOK 13 295 for the full year 2011.

13 May 2013

Large Dry Bulker Shipbuilding Prices Up in April

During April, 2013 new build prices for capesize, kamsarmax and ultramax vessels rose higher than in the previous month. Purchase prices for ships are often good indicators of financial health in the shipping industry. When shipping demand is expected to grow more than the supply of ships, shipping companies will place additional orders, which drives up purchase prices, reports Xun Yao Chen, Industrials Analyst at 'Market Realist'. Additionally, when firms are able to charge higher prices for transporting goods across the ocean, this allows them to generate higher gross margins and returns, increasing the value of ships themselves. Capesize vessels, the largest ship class that primarily haul iron ore and coal across ocean, rose $500,000 to $47.5 million.

10 Aug 2011

DnB NOR Markets Announces New Appointments

DnB NOR Markets announces analyst appointments to its energy, offshore and maritime equity research team in Singapore. Kay Lim, CFA, has been appointed the bank’s new Head of Securities Research for Asia. Kay is also the regional offshore and yards analyst for Asia Pacific. He was recently ranked the number one stock picker for Singapore industrials sector by StarMine. Lim has more than four years' experience as a securities specialist in the offshore sector with DnB NOR Markets and had prior experience as an equity generalist with Credit Suisse focusing on the energy and materials sectors. Erik Bergöö joins the Singapore office as regional shipping analyst from the bank’s headquarters in Norway.

11 Sep 2013

HII to Present at Citi's 2013 U.S. & European Industrials Conference

Mike Petters: Photo courtesy of HII

The presentation by Huntington Ingalls Industries (HII) President & Chief Executive Officer Mike Petters and Chief Financial Officer Barbara Niland will begin at 10:15 a.m. EDT and will be webcast on www.huntingtoningalls.com on Tuesday, 17, September 2013 in Boston. Huntington Ingalls Industries (HII) designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. For more than a century, HII has built more ships in more ship classes than any other U.S.

13 Jun 2007

Nordic Tankers Joins Nordic Exchange

Nordic Tankers, a Danish shipping company, has its starting point back in 1984. The company cooperates with many other companies within the international shipping industry. Nordic Tankers is Listed on the Copenhagen Stock Exchange joins the Industrials Sector on the Nordic Exchange. Nordic Tankers has experienced a significant growth in terms of earnings and capital. The earnings raised in connection to the listing on the Nordic Exchange will be used to develop the company further. Today the fleet of Nordic Tankers includes product tankers and special tankers. The company is already building more vessels. A round lot of shares in Nordic Tankers, whose short name is NORDIC, amounts to 100. The company is registered in the Industrials sector and is a Small Cap company.