Maersk Shopping Spree Continues Following Strong Earnings
Maersk bought two e-commerce companies on Friday and said more acquisitions were coming soon as the world's biggest container shipping line boosts its bet on land-based services.Maersk, which handles one in five containers shipped worldwide, aims to expand its land-based logistics services, hoping to gain a larger share of the supply chain from existing shipping clients such as Puma and Walmart.It bought Visible Supply Chain Management and B2C Europe, both specialised in e-commerce, for a combin
Apply Now for the MN100. Time is Running Out
Time is running out to apply for this Marine News’ 2021 MN100 awards edition!Each year, Marine News magazine profiles 100 of the top firms in brown water, workboat space.Here's your chance to tell Marine News why your company is one of the best in the business. The selected 100 companies will be featured in the October edition of the largest BPA-audited b-to-b publication in this genre. OEMs, service providers, shipyards, operators and the full gamut of marine-related businesses are eligible.
Eneti to Acquire Seajacks
Offshore wind services company Eneti announced on Thursday it has entered into an agreement to acquire rival Seajacks, creating one of the world's largest, most capable fleets of wind turbine installation vessels (WTIV).Eneti said its deal with sellers Marubeni Corporation, INCJ, Ltd. and Mitsui O.S.K., Lines Ltd. will see it acquire 100% of Atlantis Investorco Limited, the parent of Seajacks International Limited…
Halter Marine Wins Deal to Build US Navy Oceanographic Survey Ship
Pascagoula, Miss. shipbuilder Halter Marine announced on Thursday it has been awarded a $149 million contract for the detail design and construction of an oceanographic survey ship (T-AGS 67) for the U.S. Navy.“This contract continues the momentum and growth of Halter Marine by adding a third government program to its shipyard along with the Polar Security Cutter and Auxiliary Personnel Lighter-Small programs.
Enel, Fincantieri to Study Use of Green Hydrogen in Ports & Shipping
Europe's biggest utility Enel has agreed to work with Italian shipbuilder Fincantieri to find ways to use green hydrogen in ports and long-range sea transport."The two companies intend to exploit their expertise and know-how in their respective sectors to identify possible sustainable and innovative solutions," they said in a statement on Thursday.Fincantieri and Enel Green Power Italia will in particular study the supply of green hydrogen to naval, submarine and surface vessels and industrial u
UN Security Council to Discuss Deadly Tanker Attack
Britain will raise a deadly tanker attack off the coast of Oman during a closed-door United Nations Security Council meeting on Friday, diplomats said, but the 15…
Mercury Marine Announces New Global Leadership Team
Mercury Marine, the marine propulsion systems division of Brunswick Corporation, announced multiple job moves and promotions within its global leadership team, effective immediately.Will Sangster is promoted to President, Mercury EMEA. Sangster has been General Manager of ANZP since 2014 and added responsibility for the Asia region in 2019. Under his leadership, Mercury APAC has continued to grow revenue and market share.
Capesize Rates Hit Highest Since Mid-May
The Baltic Exchange's main sea freight index rose on Thursday on stronger vessel rates, with capesizes at a near three-month peak.The overall index, which factors in rates for capesize…
ESVAGT Lands Contracts with TotalEnergies in Denmark
ESVAGT announced on Thursday it has closed several contracts with TotalEnergies as part of the marine spread for the Danish part of the North Sea.The agreements involve the overall safety emergency response plus transport and transfer of goods and personnel and is based on a rethinking of the operational structure, ESVAGT said. The fleet will be made up of several multi-functional vessels, and the…
Profile: Anna Galoni CEO, Thordon Bearings
While new to the CEO seat, Anna Galoni is long-tenured at Thordon Bearings, having worked in the company for more than 15 years, joining the Burlington, Ontario-company in 2007 after graduating from Queens University with a Masters’ Degree in Epidemiology. The new leader of this family-owned company, Galoni shares her insights on the business and technology.Thordon Bearings is a, global business which designs and manufactures a range of non-polluting…
Japanese Project Tests Ship-based CO2 Capture System
Mitsubishi Shipbuilding has been working in cooperation with Kawasaki Kisen Kaisha, Ltd. (“K” Line) and Nippon Kaiji Kyokai (ClassNK), to conduct test operations and measurements for a small scale demonstration plant of the “Marine-based CO2 Capture System”, in order to verify the equipment’s use. The equipment has now been installed on board the Corona Utility, a coal carrier for Tohoku Electric Power Co., Inc.
BV Completes Full Remote In-water Hull Survey via ROV
Bureau Veritas (BV) and MaDfly – Marine Drone Services – report the completion of a full in-water ship’s hull survey via mini ROV on Brittany Ferries’ ship Bretagne.The survey was supervised by BV on behalf of the French Flag to validate the integrity of the entire ship’s hull’s bottom. According to BV this inspection was the first of its kind, with the test survey performed twice. A remotely operated drone performed an in-water survey with a BV surveyor onboard the vessel.
SABIC Profits Soar, 2H Looks 'Strong' Too
Petrochemicals giant Saudi Basic Industries Corp (SABIC) swung to a $2 billion quarterly profit and said it expects solid performance to continue in the second half of 2021, backed by healthy demand and rising oil prices.SABIC, the world's fourth-biggest petrochemicals company by sales and asset value, swung to a second-quarter profit of $2 billion (up from a $592M loss in the same period last year)…
Iron Ore Futures Fall as Chinese Demand Softens
Chinese iron ore futures fell below a key 1,000 yuan per tonne level on Thursday, falling more than 5% to their lowest in more than two months as domestic consumption remains sluggish on steel production controls.The most active iron ore futures on the Dalian Commodity Exchange, for September delivery, plunged as much as 5.6% to 999 yuan ($154.54) per tonne, their lowest since May 27. They were down 4.6% to 1…
SBM Offshore Eyes Offshore Wind Project Opportunities
Oil and gas services company SBM Offshore on Thursday reported a better than expected decline in core profit for the first half of 2021 as it looks to develop floating offshore wind projects.After reducing spending sharply in the face of a pandemic-induced demand collapse, major energy companies have profitted from surging oil and gas prices that have fed into investment budgets, buoying SBM's results.The Dutch company's first-half earnings before interest, tax, depreciation and amortisation (EB
Container Shipping: China-US Box Rates Eclipse $20,000 Mark, a Record
Container shipping rates from China to the United States have scaled fresh highs above $20,000 per 40-foot box as rising retailer orders ahead of the peak U.S. shopping season add strain to global supply chains.The acceleration in Delta-variant COVID-19 outbreaks in several counties has slowed global container turnaround rates.Typhoons off China's busy southern coast in late July and this week have…
Cox Marine Pushing Through Supply Chain Delays
The 300hp diesel outboard manufacturer has decided to bring its PTT production in-house to alleviate pressures caused by supply chain delays and disruptionsCox Marine began production of the CXO300 in May 2020, and the company said it has seen demand grow strongly for this high-performance diesel outboard engine. However, the pandemic has had a significant impact upon the British diesel manufacturer’s supply chain – particularly the delivery of the major component…
Dredge Barge Capsizes in Charleston
A 120-foot dredge barge capsized in the Charleston Harbor Resort and Marina, Wednesday, the U.S. Coast Guard said.Coast Guard Sector Charleston watchstanders received a call at 3:34 a.m. from the Charleston Harbor Resort and Marina staff stating the dredge barge rolled over on its side in the marina. There were no persons aboard the Capt Leo II when it capsized, but the dredge barge has a reported maximum potential of 1,000 gallons of diesel fuel on board.
Great Lakes Iron Ore Trade Up 61.8% in July
Shipments of iron ore on the Great Lakes totaled 5.7 million tons in July, an increase of 61.8% compared to a year ago, according to the Lake Carriers’ Association (LCA). Shipments were 3.2% above the month’s five-year average.Year-to-date the iron ore trade stands at 26.4 million tons, an increase of 27.6% compared to the same point in 2020, LCA said. Iron ore shipments are 5.2% above their five-year average for the first seven months of the year.
Brian Cuccias Receives Navy League’s Nimitz Award
Brian Cuccias, the retired president of Huntington Ingalls Industries' (NYSE: HII) Ingalls Shipbuilding division, accepted the Navy League of the United States' Fleet Admiral Chester W. Nimitz Award today. The Navy League presented the award at the annual Sea-Air-Space exposition in National Harbor, Maryland.The Nimitz award honors an industry leader who has made a major contribution to the nation's maritime strength or enhanced national security.
