Ailing Korean Shipbuilders to Get Huge Cash Injection
Creditors are expected to inject 800-billion Won (US$ 730-million) into STX Group during 2013, according to Yonhap News Agency. Creditors of STX Group will likely…
Northrop Grumman Names CEO U.K. and Europe
Northrop Grumman Corporation will appoint Andrew Tyler chief executive for the United Kingdom and Europe, effective July 1, 2013. In this new position, Tyler will play a leading role in supporting the company's current programmers, developing strategies for growth and identifying new business opportunities for the company's activities in the U.K. and Europe, including NATO countries. He joins Northrop Grumman from Siemens' Marine Current Turbines where he was chief executive officer.
Russia's Gazprom to Step Up Arctic Drilling
Under increasing pressure from competitors & the authorities, the Russian gas major is stepping up exploration & drilling in Arctic waters. A total of four wells were drilled and 3000 square km of 3D seismic mapping was conducted in the years 2011-2012 resulting in an increase in offshore reserves with more than 200 million tons of oil equivalents. The exploration was conducted in the waters surrounding the Yamal Peninsula…
MAN PrimeServ Wins EMC Fleet Contract
MAN Diesel & Turbo has signed a significant engine maintenance concept (EMC) agreement with German shipowner Rörd Braren covering 3 ships. MAN PrimeServ – MAN Diesel & Turbo’s after-sales service brand – recently agreed a closer, mutual cooperation between its Hamburg and Copenhagen hubs covering the EMC. The new arrangement between the two locations immediately bore fruit with Rörd Braren signing…
Cape Fear Federal Pilots Launch New Boat
Cape Fear federal pilot launches its first pilot boat and welcomes its latest customer, US Shipping Corp. After years of using a hired launch vessel for boarding ATB's, tugs and ships at the entrance to the Cape Fear River, the Cape Fear Federal Pilots recently launched its first pilot vessel. River pilot Tony McNeill, who operates the pilotage service for the Port of Wilmington NC for U.S. The boat…
Norway's Vard Wins OSV Contract
Vard contracted by Island Offshore for the construction of an advanced offshore support vessel (OSV) of Rolls-Royce design. The value of the contract amounts to approximately NOK 400 million and delivery is scheduled from Vard Brevik in Norway in Q3-2014. The hull of the vessel will be delivered from Vard Braila's shipyard in Romania. The Island Offshore Group is a leading provider of services to the…
Container Carrier Rate Wars Intensify
Ocean carriers cannot afford to operate services from Asia to Europe at rates which are between 25% and 30% lower than in January, says Drewry. Although the recent collapse of rates was excessive…
AWEA Chicago Conference & Expo Kicks Off
New American Wind Energy Association (AWEA) leadership takes helm with EDPR’s Gabriel Alonso chairing the board. Tom Kiernan to speak as incoming CEO. Generating…
COSCO China Shipyards Diminish Group Q1 2013 Profits
The Group achieved $9.7 million net profit on turnover of $733.0 million in Q1 2013, but shipyard & drybulk operations contributions down. In Q1 2013, turnover…
