Woodward Buys L’Orange from Rolls-Royce
Britain's Rolls-Royce said it had agreed to sell its Germany-based diesel parts maker L'Orange to U.S.-based engineering company Woodward Inc for 700 million euros ($859 million), as part of a plan to simplify its business. Rolls CEO Warren East has been trying to streamline the company during his nearly three years in charge as part of a turnaround plan to counter declines in some of its older aero-engine programmes and plunging demand for oil equipment.
COSCO Shipping Development Reports Higher Revenue
China-based ship leasing and transportation businesses company COSCO Shipping Development announced its 2017 performance and stated that the company realized revenue…
Bulk Carrier Crashes into a Mansion in the Bosphorus Strait
A massive bulk carrier has crashed into an historic mansion on the shores of Istanbul's Bosphorus Strait after its steering equipment became locked, Al Jazeera reported quoting Turkish state media.
MMT Contract for Stril Explorer
Swedish marine support services company MMT AB has awarded a contract of 18 months to Simon Møkster Shipping for charter of the Stril Explorer. The Multi Purpose…
Indian Shipping Minister Nitin Gadkari to Visit South Korea
Nitin Gadkari, India's Union Minister of Shipping will be on an official visit to the Republic of Korea (South Korea) from today (9 April 2018). During the 4 day visit…
DOF Bags New Contracts
Norskan Offshore and DOF Subsea Brazil have been awarded RSV contracts for the Skandi Commander and one ROV. The contracts have a duration of 150 days with start-up in April 2018.
APL Rolls out China Bangkok Express Service
APL has announced the launch of the China Bangkok Express (CBX) service, a new shortsea service that directly links South China and Thailand each week. Characterised by competitive transit times…
First public display of EnergySail
Eco Marine Power (EMP) announce that it will exhibit for the first time a working prototype of its EnergySail technology and the automated control system at Sea Japan in Tokyo.
APM Terminals Mumbai Handles Record Volumes
APM Terminals Mumbai, India handled a record 2.3 million TEUs during its 2017-2018 financial year. This is the terminal’s highest volume since the terminal was built in 2006.
NYK, Oyak to Build Car Terminal in Turkey
Turkey’s Oyak Group - owner of the country’s biggest steel producer, Erdemir Group - is to invest in a car logistics terminal in Yarimca port near Istanbul in partnership…
A.P. Moller Holding Appoints Jan T. Nielsen as CIO
Jan Thorsgaard Nielsen, Senior Managing Director of Blackstone, is appointed Chief Investment Officer (CIO) of A/S. A P Moller Holding (APMH). APMH is a privately…
India Ports Register 4.77% Growth During 2017-18
The major ports in India have recorded a growth of 4.77 per cent and together handled 679.35 Million Tonnes of cargo during the period April 2017 to March 2018 as…
SHI Bags a 180K LNGC Investment with an Option
Samsung Heavy Industries(SHI) revealed on March 5, 2018 that one 180K ㎥ LNG carrier newbuilding has been approved by the board of an overseas owner. The contract…
Port of Tallinn Freight Volume Grows to 5mln Tons in Q1
In the first quarter of 2018, 5.01 million tons of cargo and 1.92 million passengers passed through the harbours of Port of Tallinn. The cargo volume increased by…
Samsung Heavy Industries Wins a LNGC Duo for USD 370 mln
Samsung Heavy Industries(SHI) revealed on April 4th that a contract for two 174,000㎥ LNG carriers on BOD approval term. The price is 184 million USD per vessel(around KRW 195 billion).
VT Halter Opens New Paint Facility
VT Halter Marine Inc. has unveiled its new state-of-the-art blast and paint facility that will allow ship sections to be prepared, blasted and painted in a controlled environment. The ceremony included a keynote speech given by Senator Roger Wicker, U.S. Senator for the state of Mississippi.“The installation of this new blast and paint facility is to incorporate cutting-edge technologies in our marine construction programs.
Horizon Shipbuilding Hard at Work
2018 has been a busy year thus far, says Gulf of Mexico shipyard Horizon Shipbuilding, Inc. The Alabama shipbuilder, which announced reorganization plans in September 2017 amid insufficient revenues, says it is presently working on a steady stream of both new construction and repair projects. “Our continued production testifies to Horizon’s unwavering commitment to our customers, vendors and friends,” said Lance C. Lemcool, Horizon’s vice president.
Huisman Taps Bruijninckx as CEO
Huisman announced Theo Bruijninckx has been appointed as the company’s new chief executive officer to replace Joop Roodenburg, who decided to step down to the president role. Bruijninckx joined Huisman as chief financial officer and member of the board in May 2017. In his new role as CEO, he is responsible for the daily operation of the company, while Roodenburg will focus on the development of technical solutions and customer relationships. “Since 1981 Huisman is a family owned business.
Kudlow says U.S.-China Trade Talks Are Ongoing
There are ongoing talks on trade between the United States and China, White House economic adviser Larry Kudlow said on Friday but he did not specify at what level the negotiations were occurring.
By the Numbers: Barge Transportation Market
Barge transportation comprises an extensive network, ideal for carrying seaborne cargo to inland destinations and exports alike. Responsible, in part, for the worldwide trade of bulk transport, the industry is of great significance to the agricultural sector. In North America, The Army Corps of Engineers maintains and operates over 12,000 miles of canals, rivers, and inland waterways. The Illinois…
