MOL's Net Profit Halves in Q4
Reuters - Hungarian oil group MOL's net profit halved in the fourth quarter due to a squeeze on gasoline margins as well as big impairment charges related to its…
Maritime Charity Amassing Stories for History Book
A national maritime charity is set to publish a commemorative book in celebration of its 150th anniversary and is calling for people to come forward with their stories and memories.
Quest for More Lethal U.S. Warship Could Raise Cost
Defense Secretary Chuck Hagel's decision to stop building the current class of coastal warships after 32 vessels and focus on ships with more firepower and protection will result in higher costs, U.S. defense officials said on Monday. Hagel said that given the new threats, he had "considerable reservations" about building all 52 coastal warships as planned, which would account for one-sixth of the future 300-ship Navy.
Latest on Proposed Scania Buyout
The Independent Committee of the Scania Board of Directors has begun its work to consider Volkswagen's buyout offer and confirms it has noted that Volkswagen does not foresee any significant changes with regards to Scania and that Scania’s headquarters and its development centers will remain where they are today. Deutsche Bank and Morgan Stanley have been retained as financial advisors to the Committee. Mannheimer Swartling has been retained as legal advisor and JKL as communication advisor.
Navy Updates Plans for a Changing Arctic
"This updated Navy Arctic Roadmap prepares the U.S. Navy to respond effectively to future contingencies, delineates the Navy's Arctic leadership role within the Defense Department, and articulates the Navy's support to achieve national priorities," writes Chief of Naval Operations (CNO) Adm. Jonathan Greenert in the Roadmap introduction. In the coming decades, as multi-year sea ice in the Arctic Ocean recedes, previously unreachable areas may open for maritime use for a few weeks each year.
