World Submarine and MRO Market to Reach USD 36.6 Bln by 2025
The worldwide submarine market space is expected to increase from a value of USD 22.9 billion in 2015 to USD 36.6 billion by 2025, posting a CAGR of 4.78% over the forecast period…
Bechtel to Design America's First FLNG
The first U.S.-based floating liquefied natural gas vessel (FLNGV) moved closer to reality after engineering giant Bechtel agreed to design and engineer the project.
Sainty Marine Tells Stock Exchange of Only 4 of its 29 Lost Orders
Shenzhen-listed shipbuilder Sainty Marine withheld news of 29 lost orders from said exchange, Caixin reported, citing data from industry research firms and information from a shipbuilding executive.
India, Mozambique to Boost Maritime Ties
India and Mozambique on Wednesday discussed ways to intensify cooperation in maritime security, ocean economy and defence as Prime Minister Narendra Modi held talks…
USCG Dedicates Final 41-foot Utility Boat
U.S. Representatives from U.S. Coast Guard, the city of Sturgeon Bay and the Door County Maritime Museum dedicated the Coast Guard’s last operational 41-foot utility boat, Tuesday, during the Sturgeon Bay Maritime Festival. The dedication ceremony, held at the Door County Maritime Museum, was attended by Thad Birmingham, mayor of Sturgeon Bay; Capt. Amy Cocanour, commander of Coast Guard Sector Lake Michigan, and Capt.
GE Powers Next Generation of UK Navy Ships
GE Marine informs it has been awarded a contract to supply electrical power and propulsion to the Type 26 Global Combat Ships for the U.K. Ministry of Defense (MOD). According to GE, the marine industry often faces the challenge of bringing continual innovation to vessels without sacrificing the reliability of the technology. This is especially true for navy vessels. Building on GE’s technology portfolio in the naval market…
Expanded Suez Canal Opening to High Hopes, Some Doubts
Egypt will open an expansion to the Suez Canal to great fanfare on Thursday, the centrepiece of President Abdel Fattah al-Sisi's plans to revitalise the country's economy after years of damaging political turmoil. Some analysts and economists say, however, that the mega-project may fail to meet the great expectations. The Suez extension was announced by Sisi a year ago and billed as a major national…
VT Halter Announces Leadership Promotions
VT Halter Marine, Inc., the Pascagoula, Miss. based shipbuilding subsidiary of Vision Technologies Systems, Inc., today announced several promotions within its leadership team. The shipbuilder named Richard A. Zubic (Rick Zubic) to Executive Vice President, Shipbuilding; Rob Mullins to Senior Vice President, Strategy and Estimating; Harry Bell to Vice President, Sales and Marketing; Pawan Agrawal to Vice President Repair; and Phil Adams joins the VT Halter Marine team as Senior Vice President.
Malaysia Confirms Debris is from Missing MH370
Malaysia confirmed early on Thursday that a piece of a wing washed up on an Indian Ocean island beach last week was from Malaysian Airlines flight MH370, the first…
Colombia Reshuffles Crude Exports to Weather Low Prices
Colombia, Latin America's No. 4 oil producer, is changing the slate of crudes it exports in a bid to offset the falling prices that are crimping the revenues of its top oil companies.
France Launches Tender for Floating Offshore Wind Pilots
France has launched a tender for several floating offshore wind turbine projects in what is set to be the first attempt to test this new technology on an industrial scale.
SBM Offshore First-half Beats Forecasts
SBM Offshore, the Dutch oil and gas platform leasing company, reported better than expected first-half profit on Wednesday after slashing costs and said it would double annual savings at a time of low oil prices. SBM Offshore, which has said it will cut 1,500 staff, or more than 10 percent of its global workforce, expects annual savings of about $80 million compared with previous guidance of $40 million.
GE Inks Turbine Service Deal for Fastest Commercial Ship
GE Marine announced it will provide Buquebus, Buenos Aires, Argentina, with a customized service agreement for the two GE LM2500 gas turbines aboard the Francisco fast ferry. The 10-year agreement provides for scheduled and unscheduled maintenance for the dual fuel gas turbines that power the world’s fastest commercial ship. “We worked closely with Buquebus to fashion a gas turbine maintenance agreement…
Fishermen's Messaging Service Saves Lives, Boosts Income in East India
A fisherman's son and now a fisherman himself, Kulamani Tarai knows all too well that while the sea has provided sustenance to his family for generations, it can also be a cruel and deadly place.
Dogger Bank Wind Development Consents Total 4.8GW
Today’s planning approval for offshore wind energy at Dogger Bank takes the total of consented projects in the North Sea zone to 4.8 gigawatts (GW), almost equal to all the offshore wind capacity now in operation in the U.K. The consented development, Dogger Bank Teesside A&B is part of the Dogger Bank Zone, the largest of the Round 3 zones and the farthest from shore, but also one of the shallowest, with high wind speeds and seabed conditions ideally suited to offshore wind development.
Migrant Boat Capsizes in Mediterranean, Many Feared Dead
A boat packed with up to 700 African migrants capsized in the Mediterranean Sea off the coast of Libya on Wednesday and many were feared dead, officials and aid agencies said.
Raytheon Anschütz INBS for New UK Navy Ships
Raytheon Anschütz has been selected by BAE Systems to provide the Integrated Navigation and Bridge System (INBS) for the UK Royal Navy’s new Type 26 Global Combat Ships. Raytheon Anschütz is under contract to deliver the INBS for the first three ships, including customer-specific design and development, a land-based integration facility, and a wide range of services up to completion of sea trials.
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…
