Hyundai Heavy Reports 1Q Loss
South Korea's Hyundai Heavy Industries, the largest shipbuilder in the world, reported a first-quarter loss on Friday after it was hit by losses at sister firm Hyundai Petrochemical.
Did Gas Turbine Problems Contribute to Alstom's Profit Decline?
Markets will be keen for signs that French energy and transport company Alstom has improved margins and resolved problems with its heavy duty gas turbines when it reports full-year results on Tuesday.
Osprey to be De-listed from Singapore Exchange
Marine and chartering services provider Osprey Maritime Ltd said on Friday it will be de-listed from the Singapore Exchange on May 15 following its acquisition by…
Russia to Raise Doomed Kursk Submarine
Russia said it will announce final plans next week to raise the Kursk submarine, which sunk last year with 118 crew on board, a senior cabinet minister said on Friday.
Rolls-Royce to Supply Podded Propulsion, Deck Machinery for QM2
Rolls-Royce has won two new contracts to supply podded propulsion systems and deck machinery for Queen Mary 2, the new luxury cruise liner to be built for Cunard…
Conoco Forms GOM Shuttle Tanker Alliance
Conoco has taken another step toward safe movement of newly discovered crude oil reserves from the deepwater Gulf of Mexico to U.S. refineries by shuttle tankers built in the United States.
Jurong Wins $80M FPSO Conversion From Kellog Brown & Root
SembCorp Marine Ltd. said its wholly-owned subsidiary Jurong Shipyard Pte Ltd. won a project worth about $80 million from U.S.-based Kellog Brown & Root Inc. to…
NNS Squabble Seen Settled In Washington
With General Dynamics Corp. and Northrop Grumman Corp. battling for Newport News Shipbuilding Inc. both the Pentagon and Virginia's powerful delegation in Congress…
Saudi Arabia To Raise Output
Saudi Arabia has informed most oil majors that it will increase their term crude supply volumes in June compared to May. They said most majors with worldwide systems…
Frontline Surges 5% On Solid Results
Shares in Norwegian tanker group Frontline jumped 4.8 percent on the back of strong first quarter results and renewed confidence in the tanker market, analysts said.
Jurong Wins $80M FPSO Conversion From Kellog Brown & Root
SembCorp Marine Ltd. said its wholly-owned subsidiary Jurong Shipyard Pte Ltd. won a project worth about $80 million from U.S.-based Kellog Brown & Root Inc. to…
Dubai Fines Polluting Tanker
Dubai fined a tanker $40,900 for dumping oil off the Gulf Arab emirate's coast, still recovering from a spill last month, the United Arab Emirates' news agency WAM reported.
Attica Receives New Superfast Ferry
Greek ferry operator Attica Enterprises took delivery of its new Superfast VII ferry, the first of four sister ships, from Howaldtswerke Werft (HDW) shipyards in Kiel, Germany.
Merger Talks In Singapore
Shares of Keppel Hitachi Zosen Ltd. and Keppel FELS Energy & Infrastructure Ltd. surged on market talk the two units of the Singapore conglomerate Keppel Corp. would be merged.
P&O Nedlloys Posts Best-Ever 1Q Numbers
Container shipping group P&O Nedlloyd posted its best ever first-quarter operating profit on Wednesday, helped by lower fuel prices and a seven percent rise in traffic.
Dry Bulk Rates Set For A Fall
A fall in dry bulk freight rates is looming nearer as the impact of strong Latin American grain business fades, brokers said this week. "As the boost from the Latin American grain season recedes…
New Cable Laying Ships Enters Service
The Oceanic Princess, the first of two new cable laying vessels purchased for conversion by specialist UK shipping group James Fisher and Sons PLC in the second half of last year…
Dear Bill ...
Following is the full text of the letter submitted to William P. Fricks, Chairman and CEO of Newport News Shipbuilding, from Kent Kresa Chairman, President and CEO…
Northrop Grumman Launches Hostile Bid For NNS
Northrop Grumman has made the prospects of big defense consolidation a bit more interesting, offering to acquire Newport News Shipbuilding in what amounts to a hostile takeover attempt.
Push Made In Senate For $100M In Title XI Funding
A bipartisan group of 38 Senators have written to Senators Judd Gregg and Ernest Hollings, chairman and ranking member, respectively, of the Appropriations Committee's Subcommittee on Commerce…
