Confidence High in UK Logistics Sector
The latest U.K. Logistics Confidence Index commissioned by Barclays and Moore Stephens reveals that confidence in the U.K. logistics sector remains high but more controlled over the past six months as familiar challenges persist. The index has risen by almost 36% since its lowest point in late 2012, despite a slight dip in confidence in the latest survey compared to 2013. Almost three-quarters of logistics operators are planning significant capital expenditure over the coming months…
Two Great Lakes Toxic Hotspots Restored
The U.S. Environmental Protection Agency today announced that two U.S. Areas of Concern, Deer Lake in the Lake Superior basin and White Lake in the Lake Michigan basin, have been removed from the binational list of toxic hotspots that were targeted for cleanup in the U.S.-Canada Great Lakes Water Quality Agreement. After decades during which only one U.S. Area of Concern was delisted, federal agencies…
Statoil Invests $1.5b in US Offshore Project
Statoil together with co-owners in the Stampede development in the Gulf of Mexicohas sanctioned the Stampede project in the U.S. Gulf of Mexico. Statoil said it will invest $1.5 billion in the Stampede development, which is expected to begin production in 2018. Statoil owns 25% of Stampede, which is operated by Hess. Stampede, a new project named from unitizing the former discoveries of Knotty Head and Pony…
CMA CGM to Retrofit 10 More Bulbous Bows
The CMA CGM Group said it will retrofit 10 of its vessels’ bulbous bows to achieve improved energy efficiency for slow steaming. The modifications are in addition to the 15 CMA CGM ships that have already been retrofitted in 2013 and 2014. The bulbous bows exchanges, to be performed within a week in repair yards’ drydocks, will reduce the ship’s fuel consumption and cut CO2 emissions by improving the ships’ wave resistance and hydrodynamic efficiency.
Partnerships Key to Caribbean Maritime Security
Maritime security and safety experts are meeting in Nassau, Bahamas, this week to examine mutual threats and solutions and challenges and opportunities in the region. Maritime Security Caribbean 2014 is being held at the Melia Nassau Beach hotel, attended by representatives of government and industry. In addition to security threats from criminals or terrorists, there is a heightened awareness today of the environmental threats posed by norovirus and ebola and other communicable health problems.
Experimental Floating Wind Farm Nears Installation
Launched in March 2012, the Fukushima experimental offshore floating wind farm project sponsored by the Ministry of Economy, Trade and Industry is nearing the installation phase as preparatory works for the installation of the 7MW oil pressure drive-type wind turbine on the three-column semi-sub floater at Onahama port, Fukushima, are almost completed and delivery from Nagasaki to Onahama has started today.
AVEVA E3D Takes Center Stage
Customer case studies combine with advances in asset visualization and cloud technologies to showcase a new era in the creation and management of complex Digital Assets. AVEVA announced the expansion of customer trials of its 3D design software in the cloud, after its debut at the AVEVA World Summit 2014 in Berlin. AVEVA Everything 3D (AVEVA E3D) was demonstrated running in the cloud and generated…
Vale CEO: Coal Deal Soon
Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on Thursday…
Braemar Hosts Insurance Experts
Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization course in Falmouth designed to introduce participants to the technical aspects of marine surveying, investigating, reporting techniques and marine insurance. Braemar SA has been running this initiative for many years, providing background…
NAO Announces Financials, Declares Dividend
Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.
Kirby Corp. Announces Record 3Q Results
Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability. Kirby Corporation announced record net earnings attributable to Kirby for the third quarter ended September 30, 2014 of $76.7 million, or $1.34 per share, compared with $69.1 million, or $1.21 per share, for the 2013 third quarter…
Vale Financials Disappoint; Iron Ore Prices, Currency Cited
Brazil's Vale posted a surprise loss of $1.44 billion on Thursday, hurt by a fall in the price of iron ore, higher production costs and a weakening Brazilian currency.
Hyundai Heavy Plummets to Worse Loss Ever
South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders. Hyundai Heavy said on Thursday it slumped to an operating loss of 1.93 trillion won ($1.83 billion) in the third quarter…
USCG Suspends Search for the 2 Migrants
The Coast Guard suspended its search Wednesday at 3 p.m. for two missing Cuban migrants in the vicinity of Caesar Creek, Florida, to Haulover Inlet, Florida. "Our…
Danny Broad Appointed to ARENA Board
The Chair, Board members and staff of the Australian Renewable Energy Agency (ARENA) are delighted to advise that Danny Broad has been appointed by the Australian Government to the Board of ARENA.
First Libra Offshore Oil Well Confirms Discovery
Libra consortium reports that drilling the first well in the area extension of Libra, the 3-BRSA-1255-RJS (3-RJS-731), confirmed the discovery of good quality oil…
Monitoring U.S. Troops Returning from Ebola Mission
Secretary Hagel has signed an order that validated a recommendation from the Joint Chiefs of Staff to place all U.S. military service members returning from Ebola…
Maersk Interceptor Named in Norway
In a ceremony held at GMC Marine Partners yard in Mekjarvik in Norway, Mrs. Anita Utseth, Senior Vice President in Det norske oljeselskab ASA (Det norske) had the…
Eurodam Tops in USPH Inspections
Holland America Line’s ms Eurodam achieved a perfect score of 100 on a recent routine United States Public Health (USPH) inspection conducted by the U.S. Centers for Disease Control and Prevention.
Fincantieri & Vittoria Shipyard Join Forces
During the 24th edition of Euronaval, the most prestigious event in the world for naval defense, Fincantieri, one of the major shipbuilding groups worldwide, and Vittoria Shipyard…
