Maersk's Profits Boosted by Red Sea Disruption
Shipping company Maersk on Thursday raised its full-year guidance on the back of strong container market demand and the crisis in the Red Sea, but also said the outlook for the fourth quarter was uncertain.Maersk said in a statement it now expects its underlying earnings before interest, tax, depreciation and amortisation (EBITDA) in the range of $9 billion to $11 billion this year, up from its previous…
US Navy Shipbuilder Huntington Ingalls Beats Q2 Estimates
Huntington Ingalls Industries on Thursday reported better-than-expected second-quarter results, as heightened global tensions drove up demand for aircraft carriers, amphibious assault ships and submarines.The Virginia-based company reported a profit of $4.38 per share for the quarter ended June 30, ahead of analysts' estimates of $3.62. Demand for submarines and aircraft carriers is surging, fueled by China's expanding naval footprint and high global tensions.Huntington Ingalls, the largest U.S.
Silverstream Opens Operations Center in the UK
Maritime air lubrication company Silverstream Technologies has opened its new Global Operations Center in Southampton, U.K., in an effort to enhance its operational capabilities and support the existing fleet. The new hub, which accommodates more than 40 employees, is also equipped for further R&D on Silverstream’s Control and Monitoring System (CMS) solutions.Founded in 2010, Silverstream completed its first installation in 2014 and today has 80 systems installed on board ships.
Kevin King Takes Over as TT Club CEO
Transport and logistics insurer TT Club announced Thursday that Kevin King has stepped into the role as CEO, succeeding Charles Fenton effective August 1.Originally based in the U.S., King has long held positions within Thomas Miller managed businesses, and transferred to London in 2015 to lead the Europe, Middle East and Africa region at TT. More recently he served as the insurer’s Chief Operating Officer and acted as deputy CEO to over the last year.Fenton said…
GTT Books Tank Design Orders for CMA CGM’s 12 LNG Container Ships
French engineering firm GTT has received two orders from its Korean partner HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to design the cryogenic fuel tanks for 12 new LNG-fueled container vessels on behalf of CMA CGM.Under these new orders, HD Hyundai Heavy Industries (HHI) and HD Hyundai Samho (HSHI) will each build six container ships.Each ship will offer a capacity of 15,500 TEU and integrate LNG tanks with a total volume of 12…