Maritime Industry Top News
MH370: The Search Continues
U.S. Navy contractors lower the U.S. Navy's Bluefin-21 into the Indian Ocean from the deck of the Australian Defence Vessel Ocean Shield. The submersible is being utilized to search for missing Malaysia Airlines flight MH 370. Joint Task Force 658 is supporting Operation Southern Indian Ocean, searching for the missing Malaysia Airlines Boeing 777.
Statoil Reports Robust Q1
Norway's Statoil defied gloom in the oil sector by reporting first-quarter earnings above expectations on Tuesday due to higher prices and good results from shale gas activities in the United States, lifting its shares. Regarding new sanctions on Russia, Statoil's CEO told Reuters it was too early to say whether he would attend a high-profile St Petersburg economic forum in June as planned, as the firm had to assess the impact of the measures first.
DNV GL Open New South China Office
Ship classification society DNV GL says it has opened its new office in Guangzhou to support business growth in this shipbuilding area. Located in downtown Guangzhou…
EU Changes Cabotage Contract Guidance
The European Commission has given new guidance on the interpretation of EU cabotage regulation, which allows contracts of up to 12 years instead of the current six years…
US Coast Guard Foundation Presents US$400,000 Check
Anne Brengle, president of the Coast Guard Foundation, presented the check to Rear Adm. Fred Midgette, commander of the Coast Guard 9th District at a ceremony in Cleveland. The presentation of the check was held at the Great Lakes Science Center in Cleveland, April 28, 2014. The money will be used to build a community center at Coast Guard Sector Sault Ste. Marie, Mich. Rear Adm. Midgette, commander of the Coast Guard 9th District based in Cleveland, expressed his appreciation for the donation.
Wärtsilä Executive Elected EUGINE President
Wärtsilä Corporation inform that Kari Hietanen, Executive Vice President at Wärtsilä Corporation, has been appointed President of the European Engine Power Plants Association (EUGINE).
Panama Canal Expansion May Worsen Panamax Surplus: Analyst
The continuous cascading of surplus Panamax vessels into North-South trades is still contributing to over-capacity, and the problem is likely to get worse when the…
Scorpio Tankers Increase Q1 2014 Dividend
Scorpio Tankers Inc. has reported its results for the 3 months ended March 31, 2014 including the announcement of a US$100-Million stock buyback program and a quarterly dividend for shareholders.
Analysts Strive to Price New Eco-Shipping Measures
“Think of a number. Any number will do, so long as it is very big. Then double it. The answer is likely to be as accurate as any supposedly informed estimates currently…
Vard 2014 Order Book Bulging: Q1 2014 Report
Joint Singapore/Norway based offshore & specialised vessel designer and shipbuilder, Vard Holdings, has released its first quarter 2014 financial results, showing…
U.S. Lawmakers Say Latest Russia Sanctions Too Mild, To Seek More
Senior U.S. Republican lawmakers said on Monday the latest sanctions imposed on Russian individuals and companies are too mild to deter Moscow from further action…
ExxonMobil To Announces Q1 Earnings- Conference Call
ExxonMobil Corporation (NYSE:XOM) will release first-quarter financial results on Thursday, May 1, 2014. The earnings press release will be available at 7 a.m. David Rosenthal…
LOC Group expands Asian operation
London Offshore Consultants, a global leader in marine and engineering consultancy for the shipping and offshore energy sectors, has further expanded its footprint in Asia…
Greenpeace sends protest ship as first Russian Arctic oil arrives
Greenpeace International has sent out a ship 'Rainbow Warrior'on Monday to confront the Russian Oil tanker bringing the first oil produced at a new Russian offshore…
Hurricane spuds Lancaster well
Hurricane Energy plc announced that the Lancaster horizontal appraisal well was spudded at 10:30 hours BST on 26 April 2014. The Company is using the Transocean…
Ballard Power Posts Smaller-Than-Expected Loss
Canadian fuel cell maker Ballard Power Systems Inc posted a smaller-than-expected quarterly loss, helped by higher revenue from its engineering services and material handling businesses.
New U.S. Sanctions On Putin Allies Cause Few Ripples
The United States imposed fresh sanctions on Russian firms and government officials on Monday, a move that financial markets largely shrugged off and U.S. Republican…
General Dynamics: $17.6B Contract for Submarines
The U.S. Navy awarded General Dynamics Electric Boat a contract valued at $17.6 billion for the construction of 10 additional Virginia-class submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). The multi-year Block IV contract enables Electric Boat and its industry teammate, Newport News Shipbuilding, to proceed with the construction of two ships per year over a five-year period. Construction of the first Block IV submarine, SSN-792, will begin May 1.
Peru OKs $1.4 Bln Exploratory Work In Natgas Block
Peru has approved an environmental permit that will allow China National Petroleum Corp to do $1.39 billion of exploratory work in a natural gas block it is buying…
New Logistics Facility Coming to Port of New Orleans
Governor Bobby Jindal and CEO Jack Jensen of Jensen Companies announced the development of a new 500,000-square-foot logistics facility by TCI Plastics – a Jensen Companies division – at the Port of New Orleans. TCI will make a $36.5 million capital investment to build the facility at its France Road Wharf hub, and the project will create 160 new direct jobs with an average salary of more than $33,400, plus benefits.
