Sinwa Reports 22% Increase in Q2 Earnings
SINWA announced financial results for its 2nd quarter ended June 30, 2015. The group reported a 7.4 percent year-on-year increase in total revenue to S$40.8 million for 2Q2015. This was due to the growth in customer base and increased sales volume from existing customers for the marine and offshore supply business. Gross profit also increased by 7.7 percent year-on-year to S$9.7 million, in line with revenue growth with gross profit margin remaining relatively constant at 23.8 percent.
SFL Sells 1995-built Suezmax Tanker
Ship Finance International Limited (SFL), has agreed to sell the 1995-built Suezmax Front Glory to an unrelated third party. The company has simultaneously agreed…
Campaign to Raise Awareness of US Shipbuilding, Repair
Ahead of the first presidential debate this week, the Shipbuilders Council of America (SCA) announced the launch of KNOW YOUR SHIP, a multifaceted, national campaign aimed at raising the awareness of the importance of the shipbuilding and repair industry and the critical role it plays in maintaining America’s national and economic security. “KNOW YOUR SHIP will tell not only the stories of the many…
Vroon Inks Communications Deal with Speedcast
SpeedCast International Limited (SpeedCast), a global satellite telecommunications service provider, announced that it has been awarded a multi-year communications contract by international shipping company, Vroon. The new Ku-band satellite service will facilitate high-performance broadband connectivity with multi-megabit speeds, providing “hotel experience” Internet facilities for Vroon clients aboard specific categories of vessels.
Bechtel Wins Contract for US' First FLNG Facility
Bechtel announced it has been selected by Delfin LNG, a wholly-owned subsidiary of Fairwood Peninsula Energy Corporation, to perform front-end engineering and design…
Teekay Acquires 12 Suezmax Tankers
Teekay Tankers Ltd. announced it has agreed to acquire a fleet of 12 modern Suezmax tankers currently owned by Principal Maritime Tankers, a portfolio company of funds managed by affiliates of Apollo Global Management, LLC, for an aggregate purchase price of $662 million. The acquisition is expected to be immediately accretive to Teekay Tankers' earnings, free cash flow and net asset value per share and…
Van Oord Orders Two New Dredgers
Rotterdam-based dredging and marine contractor Van Oord has recently ordered two trailing-suction hopper dredgers as part of its continuous investment program. The vessels will be constructed at CNN LaNaval Shipyard in Sestao, Spain with delivery dates scheduled for 2017. Each vessel will feature a complete MAN Diesel & Turbo propulsion package with MAN 6L48/60CR engines, RENK gearboxes with PTO, MAN Alpha CP Propeller systems…
Rolls-Royce Gas Turbines for UK Royal Navy
Rolls-Royce has signed a contract to supply the MT30 gas turbine packages for the first three Type 26 Global Combat Ships for the Royal Navy. Rolls-Royce will now begin manufacture of the gas turbines and the surrounding steel packages for the ships, which are to be built by prime contractor BAE Systems. Don Roussinos, Rolls-Royce, President – Naval, said, “The selection of the MT30, the most powerful marine gas turbine in operation today…
Research Vessel Refit at Alewijnse
Oceanographic research vessel Marion Dufresne II is celebrating her 20th anniversary in 2015 and has finished a major refit that will extend her life for a further 20 years. Leading electrical system integrator Alewijnse Marine Systems has successfully completed the electrical conversion. During a four month stay at Damen Shiprepair Dunkerque from April to July 2015, the French scientific research vessel Marion Dufresne II underwent a major refit that included extensive work on her hull…
World ENC Charts Now in Nuno Navigator
CherSoft’s professional navigation software Nuno Navigator now has access to a full portfolio of ENC charts from PRIMAR. ENC charts have traditionally been limited to ECDIS systems. Now, Nuno Navigator is bringing professional quality charts to smaller workboats, back offices, pilots, rig movement specialists and wherever a more complex and expensive ECDIS is not required. According to its developers…
China: South China Sea Reclaimation Work Halted
China has halted reclamation work in the South China Sea, the country's foreign minister said on Wednesday, at a meeting of Southeast Asian foreign ministers where…
Nigeria's Tanker Ban Underscores Local Industry Disarray
The Nigerian president's sudden, unexpected and seemingly unilateral decision to ban nearly 100 oil tankers from the country's waters has sown confusion in the operations…
Adverse Weather Warning to Chilean Ports
Inchcape Shipping Services (ISS) is advising that Chile’s Port Authority has issued a warning of adverse weather conditions and strong swells affecting the Chilean coast over the next two days…
Diversion of Yemen Aid Ships Spreads Fear
Residents in the Yemeni capital Sanaa are stocking up on rare food and fuel supplies after the government in exile decided to divert aid ships from the Houthi rebel…
AEG to Power Seabourn’s Cruise Vessel
AEG Power Solutions, a global provider of power electronic systems and solutions for industrial power supplies and renewable energy applications, informed that Fincantieri S.p.A.
CMA CGM Takes Second Guyanamax Boxship
The CMA CGM Group Informed that the CMA CGM MARSEILLE – 2nd vessel of its GUYANAMAX 3 - vessels series – was delivered in South Korea on July 29th. This 2,100 TEU…
LOC Opens Paris Office
LOC, a leading global marine and engineering consultancy for the shipping and offshore energy industry announces the expansion of its European operations with the…
Australia's Massive Shipbuilding Plan Announced
The Australian Government has thrown domestic shipbuilders an A$89 billion (US$ 66 billion) lifeline. It plans to deliver a long-term plan for a strong and sustainable naval shipbuilding industry.
Matson Declares 2Q EPS Of $0.23
Matson, Inc., a U.S. carrier in the Pacific, reported net income of $9.9 million, or $0.23 per diluted share for the quarter ended June 30, 2015. The company said…
Stoody Debuts Technical Services Hotline
Stoody, an ESAB brand, has recently launched the new Stoody Tech Services (STS) hotline to provide a valuable resource to distributors and applicators seeking answers…
