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V K Mohan News

01 Nov 2018

TGS Remains Upbeat as Shares Drop

TGS CEO Kristian Johansen (Photo: TGS)

Oslo-listed seismic surveyor TGS fell more than 10 percent after reporting disappointing third-quarter results on Thursday, as oil firms were still too cautious to spend despite a raft of upbeat earnings.TGS, which maps the seabed in search of hydrocarbon deposits for oil firms, reported quarterly operating profit of $24 million, down from $26 million a year ago and missing a forecast of $37 million returned by a Reuters poll.While oil companies like Shell, BP and Total are reporting bumper profits in the third quarter…

18 Oct 2018

Keppel Q3 Profit Falls

Singaporean conglomerate Keppel Corp on Thursday posted a 15 percent fall in third-quarter net profit, hurt by lower contributions from its investments and property divisions.Keppel, whose businesses range from rig-building to property development, posted a net profit of S$226 million ($164 million) for the quarter ended September, versus S$265 million a year earlier.Total revenue for the quarter stood at S$1.3 billion, a 20 percent fall from a year earlier.Higher revenue recognition from ongoing offshore and marine projects and increased power and gas sales were offset by lower contributions from property trading, asset management, as well as the absence of the sale of investments…

19 Jul 2018

Keppel Q2 Profit up 44 Percent

Singapore's Keppel Corp posted a 44 percent rise in its second-quarter profit, citing stronger earnings from its property and infrastructure divisions that offset losses in its other segments, including offshore and marine.Keppel, whose businesses range from rig-building to property development, posted a net profit of S$246 million ($179 million)for the quarter ended June, versus S$171 million a year-ago.Total revenue at the company, in which Singapore state investor Temasek is the biggest shareholder, was S$1.52 billion, slightly lower than the S$1.55 billion posted a year ago.Profit at the company's property division rose 132 percent to S$225 million, helped by en bloc sales in some development projects and a fair value gain.Its offshore and marine (O&M) division, which builds drilling r

14 May 2018

Singapore Marine Fuel Sales at 3-month High

© MAEKFOTO / Adobe Stock

Singapore marine fuel sales climbed to a three-month high of 4.233 million tonnes in April, up 1.6 percent from the previous month but 0.5 percent lower from the same time last year, data from the Maritime and Port Authority of Singapore (MPA) showed on Monday.In a signal of steady demand for marine fuels, the firm April sales volumes came despite rising fuel costs and supply disruptions of some bunker fuels towards the end of the month, trade sources said.The cost of 380-centistoke (cst) fuel oil cargoes, the mainstay bunker fuel for large vessels, in April averaged $385 per tonne in Singapor

13 Apr 2018

Rolls-Royce, GSL to assemble MTU engines

Rolls-Royce said it has reached a deal with Indian naval shipbuilder Goa Shipyard Limited (GSL) to cooperate in the local manufacturing of technologically-advanced MTU Series 8000 engines. Under the agreement, which was signed this week at the defense trade show Defexpo in India, the companies will assemble the 16-cylinder and 20-cylinder MTU Series 8000 engines at GSL’s new facility in Goa.The MTU brand produces large diesel and gas engines and complete propulsion systems as part of Rolls-Royce Power Systems.The agreement includes transfer of MTU technology related to localizing of engine components, engine assembly, testing, painting and major overhauls. MTU Series 8000 engines are the largest and most powerful MTU diesel engines with a power output of up to 10 MW.

12 Feb 2018

Sembcorp Marine Faces Exchange Query after Big Shares Fall

(Photo: Sembcorp Marine)

Shares of Singaporean rig-builder Sembcorp Marine closed 12 percent lower on Monday, their biggest daily fall in nine years, prompting a query from the bourse regarding the trading activity.   This is the second time in a month the Singapore stock exchange has issued a trading query to Sembcorp Marine after a sharp rise in the stock on Jan. 23.   Shares of the company closed down 32 Singapore cents at S$2.37 on Monday. They have risen 29 percent so far this year.   The company will report its financial results next week.     (Editing by Vyas Mohan)

05 May 2017

GRSE to Build MTU Engines in India

MTU and Garden Reach Shipbuilders & Engineers Ltd. (GRSE) have agreed the final assembly of MTU Series 4000 engines in India. Rear Admiral (ret.) V K Saxena, Chairman and Managing Director at GRSE (left), and Knut MĂĽller, Head of Marine and Government Business at MTU, signed the agreement. (Photo: Rolls-Royce)

agreement between Rolls Royce and Garden Reach Shipbuilders & Engineers Ltd. (GRSE) will see final assembly of MTU Series 4000 engines in India. Under the terms of the deal, the 12V and 16V 4000 M90 type engines will be assembled in GRSE’s Diesel Engine Plant in Ranchi, while an option for the future local production of parts was also agreed upon. The agreement includes the transfer of MTU technology related to assembly, testing and painting. The 12V and 16V 4000 M90 type engines have a rated power of 2…

26 Apr 2016

V.Ships Wins Fortress Deal

V.Ships Offshore, part of V.Group has been awarded a ship management contract by Fortress Transportation and Infrastructure Investors LLC to provide full technical and crew management services for an advanced SURF/IMR vessel. The ship management services will be delivered from our newly acquired Bibby Ship Management office in Singapore led by Arvind Mohan. Nineteen specialised seafarers, with final complement subject to project requirements, are being deployed on board the 2014-built DP-3 vessel, Pride, which has been on charter in Malaysian waters.

08 Mar 2016

Two Indian Sailors Killed in Yemen Vessel Fire

Two Indian sailors were killed in a fire on board a vessel off Yemen while three Indians injured in the fire have been admitted to a hospital in Oman, Indian External Affairs Minister Sushma Swaraj said. Sharing the tragic news on twitter, the minister also expressed her condolences to the bereaved families. "We have lost two Indian sailors Mahesh Kumar Rajagopal and Deepu Lathika Mohan due to fire in a vessel Al Sadaa. My condolences," she tweeted. The minister said the injured have been admitted to a hospital in Salalah, Oman. ”The three injured have been admitted in a hospital in Salalah, Oman. Our missions in Djibouti and Oman are providing all assistance,” she added. Swaraj said that Indian “missions in Djibouti and Oman were providing all possible assistance”.

20 Aug 2015

Glomaris Enters Malaysian Market with Orkim Deal

Photo: Orkim

Malaysia-based Orkim Ship Management (ORKIM) is the latest shipping company to turn to E Foqus for its software solution in commercial and voyage operations. Orkim is a tanker operator for Clean Petroleum Product (CPP) in the region, having long-term contracts with oil and gas operators. “Orkim will act as E Foqus’ ambassador in this region, and we can expect Malaysian shippers to take a keen interest in the increased efficiency and stronger business processes that the company will enjoy with Glomaris Systems,” said Niels Ammendrup the COO of E Foqus.

13 Aug 2015

Strike Ends at Mumbai's GTI Container Terminal

Contract workers at an Indian port in the commercial capital Mumbai have called off their nearly a week-long strike that backed up more than 25,000 containers of commodities such as sugar, pulses and rapeseed meal. Loading and unloading ground to a halt due to the strike called by contract workers demanding permanent employment at the Gateway Terminals of India (GTI), one of the three terminals of the Jawaharlal Nehru Port Trust (JNPT) that handles 60 percent of India's container cargo. The GTI terminal is operated by the world's leading shipping company Maersk and Container Corporation of India. "Although we couldn't meet their demand as of now…

03 Aug 2014

India's Modi Offers Nepal $1 billion Loan in Regional Diplomacy Push

Indian Prime Minister Narendra Modi offered Nepal $1 billion in concessional loans to help build power plants and roads during a visit on Sunday aimed at shoring up support in a region where China is making inroads. Both India and China are vying for political influence in South Asia, home to more than 1.5 billion people, by offering closer integration with their giant economies. India has long been the dominant force in the region. But in recent years as its economy slowed and it struggled with policy paralysis, China has stolen a march, building ports from Sri Lanka to Bangladesh and power plants in Nepal. Modi is on a two-day visit to Kathmandu to help speed up negotiations on a power trade pact that is at the centre of his new diplomatic drive.

03 Jun 2014

McQuilling Secures India Foothold with Seaways Shipping

Transportation and consulting services firm McQuilling Partners, Inc. says it has reached an agreement with Seaways Shipping and Logistics Limited (SSLL) to establish Seaways McQuilling Private Limited. Through offices located in Mumbai and New Delhi, the core business of the company will be to provide tanker, dry bulk, chemical and offshore brokerage services, as well as research and logistics consultancy within India and its related markets. McQuilling Partners and its companies has delivered over forty years of international marine transportation services and consultancy experience to Seaways McQuilling Private Limited, while Seaways provides over two decades of integrated shipping and logistics expertise to the partnership, specifically in India. Capt. Capt. P.V.K.

09 Jan 2014

USCG Suspends Search for Missing Tanker Crewman

The U.S. Coast Guard suspended its search for an Indian tanker crewman, Ram Mohan Singh, reported missing from the 598-foot crude oil tanker Rainbow Quest near Southwest Pass, Wednesday. Coast Guard crews searched for 44 hours in a search area of 1,179 square miles approximately five miles south of Southwest Pass in an effort to locate Singh. Watchstanders at Coast Guard Sector New Orleans received a report from the Rainbow Quest that Singh was missing after an 8 a.m. muster, Tuesday. The Hong Kong-flagged ship conducted sweeps of the vessel with negative results; no life jackets were reported missing. Singh was last seen Monday at 9 p.m. wearing an orange jump suit.

08 Jan 2014

Coast Guard Searches for Missing Tanker Crewman

The Coast Guard is searching for a an Indian crewman reported missing from a tanker vessel anchored fives miles south of Southwest Pass, Tuesday. Missing is Ram Mohan Singh, 25. Watchstanders at Coast Guard Sector New Orleans received a report from the 598-foot Rainbow Quest that Singh was missing after an 8 a.m. muster. The Hong Kong-flagged ship conducted sweeps of the vessel with negative results; no life jackets were reported missing.  The vessel has been at the Southwest Pass Anchorage for the past 24 hours. Singh was last seen Monday at 9 p.m. wearing an orange jump suit.

07 Jan 2014

Search Begins for Crewman Missing from Indian Tanker

Pictured is a passport photo of tanker crewman Ram Mohan Singh, who was reported missing after a crew muster aboard the Rainbow Quest at 8 a.m. at the Southwest Pass Anchorage, Jan. 7, 2014. Singh is a native of Mumbai, India. (Photo issued by Mumbai passport office)

The U.S. Coast Guard is searching for a an Indian crewman, Ram Mohan Singh, 25, reported missing from a tanker vessel anchored five miles south of Southwest Pass, Tuesday. Watchstanders at Coast Guard Sector New Orleans received a report from the 598-foot Rainbow Quest that Singh was missing after an 8 a.m. muster. The Hong Kong-flagged ship conducted sweeps of the vessel with negative results; no life jackets were reported missing. The vessel has been at the Southwest Pass Anchorage for the past 24 hours. Singh was last seen Monday at 9 p.m. wearing an orange jump suit.

25 Feb 2013

Nationwide Power Engineering Curriculum Developed

Photo credit ONR

An Office of Naval Research (ONR) supported enterprise brings sweeping changes to electric power & energy education at U.S. universities. “The number of power engineers in the United States is dwindling just when the Navy and the country as a whole need them most,” said Dr. Peter Cho, a program officer in ONR’s Ship Systems and Engineering Research Division who is overseeing the project. Secretary of the Navy Ray Mabus has used a set of aggressive goals to guide the service toward renewable power as well as electric ships and weapons.

17 Jan 2013

Bibby Ship Management Expands

Fast-growing Bibby Ship Management has relocated its Far Eastern and Indian operations to new, larger premises in key strategic locations, ensuring the company is ideally placed to service the needs of its customers worldwide. Bibby Ship Management’s new office in India is situated in Mumbai, the heart of Indian seafaring trade and industry. With over 120 members, the Mumbai team assists customers with sourcing and placing Indian seafarers on their ships, technical management of vessels, marine training and business travel. “This move recognises the importance of India as a key training centre for seafarers, particularly in the offshore sector,” says Prakash Agarwal, Managing Director, Bibby Ship Management (India) Ltd.

08 Nov 2012

Jailed Pirates Fired RPG's at Tanker 'For Fun' Said Defence

The Supreme Court of the Seychelles recently found 15 Somalis guilty of piracy and jailed them for up to 18 years. Judge Mohan Burhan rejected their defence that they were fishing and having fun as they fired rockets at a tanker in the Arabian Sea and that weapons – including assault rifles – which they dumped at sea when a surveillance helicopter appeared were only for their own protection, reports the 'Seychelles Nation'. Captain Stanislav Ususchev of the oil tanker MV Sunshine informed the court he saw a skiff approaching his vessel at 24 knots which caught up with the tanker in order to launch a rocket-propelled grenade (RPG) towards the bridge.

12 Nov 2007

Seaways Plans to Add Six Container Ships

Seaways Shipping Ltd, a Hyderabad-based maritime company, proposes to double its turnover to about Rs. 1,200 crore by the end of next fiscal (2008-09) by infusing funds through a Rs. 200-crore private equity (PE) and Rs. 500 crore of initial public offering (IPO). While the company has almost zeroed in on a single private equity investor to pump in the funds before the end of the current financial year, it plans to raise the IPO during 2008-09. P. V. K. Mohan, Chairman and Managing Director, reportedly said he planned to add six more container ships on the West Coast of India. Apart from adding container ships, the company planned to establish container freight stations at seaports and also in hinterland, increase freight forwarding services through air and sea, and add more containers.