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IHC Merwede Reveals Healthy Profit Margin
IHC Merwede has revealed a healthy net profit margin of 4.1% in 2012 and a positive sales forecast for the year ahead. The company develops and builds vessels, equipment and life-cycle support services for the dredging, mining and offshore industries, which have been performing well – despite the global economic situation and the knock-on effect for the maritime industry. In 2012, IHC Merwede reached a revenue of €895 million and a net profit of €37 million.
KVH Expands Mini-VSAT Broadband Network in Brazil and Africa
In the latest stage of its ongoing expansion of the global mini-VSAT Broadband network, KVH Industries, Inc. has more than doubled the network’s capacity in the Brazilian and African regions. The ongoing global network upgrade involves deployment of Variable Coding, Spreading, and Modulation (VCSM) technology provided by ViaSat, Inc., KVH’s partner in the mini-VSAT Broadband network. This is the third major capacity increase in less than five months…
SENER Opens Office in Brazil
The engineering and technology group SENER has opened an office in São Paulo, Brazil. SENER thus establishes an operating and permanent division in this Latin American country, made up of about 300 Brazilian professionals specialized in engineering and construction that will carry out projects in the fields of Power and Process, Civil engineering and Architecture, Aerospace and Marine engineering. Furthermore, SENER premises in Brazil also include an office in Rio de Janeiro.
Evergreen Line Extends Indian Ocean Network
Evergreen Line is teaming up with United Africa Feeder Line (UAFL) to extend its service network in the Indian Ocean. Evergreen announce a new ISC-Mauritius-Mozambique…
Law Firm HFW Names Paul Dean New Shipping Head
London-based Holman Fenwick Willan (HFW) announce the election of Paul Dean as head of the law firm's shipping practice. Paul Dean has taken over from current head George Eddings who becomes the firm's new Managing Partner effective from 1 April 2013. Paul specialises in dispute resolution arising from marine and offshore matters, including charterparties, bills of lading, shipbuilding, collisions…
Fourth Series of Offshore Vessels Joins Bourbon Fleet
A year after taking delivery of its last Bourbon 200 vessel and first Bourbon Liberty 300 vessel, Bourbon has extended its range of services with the Bourbon Liberty 151, the first vessel in a series of 15 PSVs. The first Bourbon Liberty 150 series vessel will operate for Maersk Oil and Qatar. Bourbon has been investing in a range of next generation built-in-series vessels since 2008. By the end of 2014…
Nigerian Offshore Equipment Facility Taking Shape
Kaztec Engineering announced that construction of its Phase 1 Lagos factory is now underway. Kaztec, a subsidiary of the Chrome Group a leading West African oil and gas conglomerate…
Cal Dive Wins GoM Subsea Pipeline Contract
Cal Dive International awarded an EPIC contract by Pemex Exploración y Producción; updates Q1 2013 expectations. The contract is for the engineering, procurement…
London P&I Issues Warning on Bagged Rice Cargoes
The London P&I Club has advised shipowners to seek advice before loading bagged rice cargoes in view of the inherent risks associated with the trade and an increase in the severity of claims in recent years. In the latest issue of its StopLoss Bulletin, the club notes that poor freight markets have seen an increase in the number of owners employing their ships in the bagged rice trades. It says the…
New Hapag-Lloyd Feeder Service for Baltic Region
Hapag-Lloyd will launch its new Finland Express Service (FIX) on April 2 to improve links between the Baltic region. The feeder service will connect Russia, Finland…
Dubai Maritime Green Initiative Propagates Environmental Efforts
Drydocks World and Maritime World announced the launch of Dubai Maritime Green Initiative, a movement to encourage all-round environmental excellence in maritime and allied sectors including oil, gas and energy. The initiative was inaugurated in the presence of decision-makers from government and industry and was underlined by MoU for green technology transfer with leading classification society DNV and Rolls-Royce a renowned marine systems provider.
Russian Maritime Security Firm Protests Nigeria Detainment
In September 2012 Moscow-based crew members of the arms-carrying 'MV Myre Seadiver' were arrested in Lagos & detained without trial. In September 2012 Moscow-based…
KOTUG Celebrates Silver Jubilee, Extends Globally
Over the past 25 years KOTUG has been transformed from a European to a global player in the maritime industry. As a fast growing towage company KOTUG is expanding its innovative services to ports and terminals in Europe, West-Africa and Australia. With a young and powerful fleet of 40 tugs, KOTUG operates in a variety of markets, including towage services in ports and at sea as well to the salvage, offshore and dredging industry.
WSS Open Their Own Facility in Dakar, W. Africa
Ship service providers WSS open their own premises in the port after 15 years of operation through sub-agents & service providers. Located at the most westerly point in West Africa, Dakar is transited by all north and south- bound traffic. The port is well-placed to handle a multitude of different vessel requirements - from dry-docking, dry and wet cargoes, containers and RoRos – to project cargoes including military and ships’ husbandry.
VLCC Owners Struggle Despite Recovery in Demand
The market continues to struggle, and Drewry's latest Tanker Insight report saw the Drewry Tanker Earnings Index suffer a further decline in February. Weak demand…
Sea Marshals Urges Ship Operators to Stay Vigilant
The threat to maritime trade from Somali pirates continues, and ship operators should stay vigilant and adhere to best management practices, according to private maritime security company Sea Marshals Ltd, which counsels against complacency at this time. Latest security industry intelligence points to a likely upsurge in pirate attacks, particularly given recent releases of hijacked vessels and a reduction in attack success rates. Thomas Jakobsson, Chief of Operations for U.K.
Dubai Maritime City Land Development
DAMAC Properties continues its investment programme with plans to develop prime real estate in Dubai Maritime City. DAMAC’s plot of land on the sea-front at Dubai Maritime City will be home to a high-rise luxury tower of serviced hotel residences and further expands the company’s project portfolio in the Emirate. Dubai Maritime City is strategically located north of the main city centre and creek area business district, between Port Rashid and Dubai Dry Docks.
Lukoil Marine Lubricants increases turnover to $200 million
Specializing in lubricants for the maritime industry, Lukoil Marine Lubricants Ltd. increased its sales revenue in the past financial year 2012 by 74% to around $200 million. This result was announced by Lukoil Marine Lubricants’ CEO Victor Zhuravskiy in Hamburg. Founded in 2008, Lukoil Marine Lubricants is a subsidiary of the Russian oil company Lukoil. The company’s recent performance marks a continuation of its headlong growth.
Tankship Major Crystal-gazes Interestingly
Euronav, report a trading loss of almost US$ 119-million after tax in year-ending 2012 report, expect oil transportation market to re-balance in 2013. On the supply side, given the current state of the tanker market and the difficulty most owners face securing financing it is most probably safe to assume very few newbuilding contracts will be placed in 2013. The market also expects fleets to consolidate due to market pressure.
LNG Shipping's Dream Run Over?
Drewry's latest 'LNG Insight' saw heating demand subside in major importing regions in February & cargo availablilty also tightened. Regarding cargo availability, a few unplanned shutdowns, caused a 4% decline in the LNG Freight Index. LNG shipping enjoyed a dream run during 2011 and 2012, owing largely to increasing tonne-mile demand and an almost stagnant fleet. Freight market prospects would be even brighter if fleet supply were to remain at current levels…