Cash-strapped JJ Sietas Group is building a Van Oord liftboat but as a second order is uncomfirmed the yard's future is in doubt.In June 2012 the creditors’ committee voted in favour of an offer by the VeKa Group of the Netherlands to take over the Sietas shipyard…
Voith Group reports on financial results at end of fiscal year year 2012 (ending September 30, 2012).Report highlights:• Third best operational result in company history despite difficult business environment at Voith Paper• Sales rise by 2 percent to EUR 5…
KPI Bridge Oil, a global broker and trader in marine bunkers, marine lubricants and risk management products, has appointed Mr. Andrew Cheah as Managing Director of its Singapore operations, KPI Bridge Oil Singapore Pte Ltd.Andrew has more…
Dan-Bunkering (America) Inc. has appointed Michael Moschos as Bunker Trader as of 15 October 2012.Dan-Bunkering (America) Inc. opened for business earlier this year and has been very well received within the business. The employment of Michael…
Seanergy Maritime Holdings Corp. sells 'Clipper Glory', a 30,570 dwt Handysize drybulk carrier built in 2007, for US$11.25-million. The Company used the sale proceeds to reduce debt and for working capital purposes. Following the completion of sale of the Clipper Glory…
Aker Solutions announce it is on track to meet its 2015 growth targets, with growth to continue into at least 2017.The company made its announcement on its recent capital markets day, sayiing that in 2010, Aker Solutions set an ambitious target of doubling the size of the company by 2015…
Gamesa raises €260-million in funding from European Investment Bank for its on & offshore wind turbine R&D+I investment programme.The funding will be used: To conduct innovation activities in the next three years (2013-2015)…
Huntington Ingalls Industries donate US$ 2.1-million to the United Way of the Virginia Peninsula.The donation is a combined contribution from the HII corporate office and its participating employees, as well as donations made by the company's…
Drewry Maritime Research’s ‘Annual World Shipbuilding Market Review & Forecast’ highlights bleak prospects for the world’s shipbuilders.Shipbuilding production levels have remained at record high levels exceeding 50 million cgt for two consecutive years (2010 -2011)…
The European Commission calls for proposals in 2012 Trans-European Transport Network (TEN-T) €1.015-billion funding program.The money is available to finance European transport infrastructure projects in all transport modes – air, rail, road…
29 FPUs Ordered over last 12 MonthsIMA has just completed an in-depth analysis of the floating production sector. The 175 page report Floating Production Systems: Assessment of the Outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and…
International accountant and shipping consultant Moore Stephens has highlighted an imminent change to VAT rules by the UK government which could have significant implications for the shipping industry.With effect from 1 December 2012,…
Jaya Holdings Ltd is pleased to announce the appointment of Mr Chong Chow Pin as Chief Financial Officer Designate. Mr Chong will report directly to the Chief Executive Officer and be responsible for financial, treasury and all corporate services…
Tanker owners continue to be deeply concerned that the current tanker market is seriously jeopardizing the sustainability of the tanker industry. Speaking recently to Intertanko’s Council in London, the Secretary General of the International Maritime Organization (IMO)…
Coastal Energy Company, an independent exploration and production company with assets in Thailand, issues 2013 guidance.• The Company expects operating expenses to average approximately $19.00 per bbl offshore Thailand, well below 2012…