The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa this is even more the case due to less developed land infrastructure. European…
The world’s oceans must be managed well to ensure the potential of an “ocean economy” that was worth US $ 1.5 trillion in 2010. 'Calculations based on the OECD’s Ocean Economy Database value the ocean economy’s output (measured in terms…
Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is 'on target' to lay off a total of 8000 workers by the end of 2016, up from a previously stated goal. Chevron reported a net loss of $725 million…
Cargotec's January-March 2016 interim report: Profitability improved according to target * Strong order intake in Kalmar and Hiab * MacGregor profitability satisfactory considering current market situation * Strategy execution proceeding…
The Turnbull Government has signed a long-term contract for the sustainment of ANZAC Class Frigates centred in Western Australia. The strategic partnership between BAE Systems Australia Defence Pty Limited, Saab Australia Pty Ltd, Naval…
Kawasaki Kisen Kaisha, Ltd. (“K” Line) reviewed its medium-term management plan, which was formulated in March 2015 as the business strategy toward our 100th anniversary in 2019, in response to the structural changes afoot in the business environment…
Singapore Technologies Engineering Ltd (ST Engineering) today announced that it has injected US$66m (approximately S$89m) into the capital of its US Headquarters, Vision Technologies Systems, Inc. (VT Systems), for the repayment of bank loans…
Officials from POSCO, the Ports of Indiana and community leaders gathered to break ground today on POSCO's new wire rod processing center at the Port of Indiana-Jeffersonville.POSCO is a multinational company headquartered in Pohang, South Korea…
Dassault Systèmes Congratulated DCNS and Australian Government on the historic naval Defense Collaboration France-based DCNS has been selected by the Commonwealth of Australia as its preferred partner for the design of the 12 future submarines…
Ship owners and operators can now compare fuel cost savings reaped by hull cleaning with GAC EnvironHull’s online fuel savings calculator.A foul-free hull offers the benefits of significantly enhanced fuel efficiency and lower operating costs by reducing resistance in the water…
Cosco Pacific Ltd.'s first-quarter ended 31 March 2016 net profit rose 31.4% from a year earlier on the back of a one-off gain. Turnover sank 2.27% yearly to US$129 million. On yearly basis, its net profit shot up 105 per cent to US$702…
Shell has started discussions with employees in Australia about job reductions, the company said on Wednesday, as part of plans to cut 10,300 jobs worldwide to lower costs.'Shell last week commenced conversations with employees about business…
MacGregor has received orders from two Japanese yards to deliver comprehensive RoRo access equipment packages for four car carriers. The equipment will be delivered during Q3 in 2017. The orders are booked into the first quarter 2016 order intake…
Leading specialist in well diagnosis, EV, has announced the acquisition of Aberdeenshire-based well integrity software supplier, Epidote Limited, to enable a world-class well diagnosis service. The acquisition results in EV taking full ownership of the company and its five employees…
The South Korean carrier Hanjin Shipping plans to generate USD 357 million from asset sales. South Korea’s largest container operator by capacity plans to sell items such as dry bulk activities while the debt-stricken shipping group negotiates…