The Board of Directors of Sulzer was surprised to hear of Klaus Stahlmann's personal decision to step down as CEO of Sulzer AG. The Board of Directors acknowledges Mr. Stahlmann's contribution to Sulzer's realignment, but in the interests…
The U.S. Navy has ordered 56 AN/USC-61(C) Digital Modular Radios (DMRs) and related equipment from General Dynamics. The newly built DMR radios will be capable of using the Mobile User Objective System (MUOS) waveform, the digital dial tone needed to make voice calls to the U…
Tidewater Inc. announced today a first quarter net loss for the period ended June 30, 2015, of $15.1 million, or $0.32 per common share, on revenues of $304.8 million. For the same quarter last year, net earnings were $43.7 million, or $0…
The 31st Marine Expeditionary Unit aboard the amphibious dock landing ship USS Ashland (LSD 48) arrived in Saipan on Aug. 8 and is providing disaster relief in the wake of Typhoon Soudelor.When the ship was tasked to go to Saipan earlier in the week…
Divers Northern Fleet raised from the bottom of the Kola Bay, an American anti-aircraft gun, which lay there for 70 years.Earlier it was reported that the specialists of the search and rescue (UPASR) Northern Fleet (NF) completed the…
Kinder Morgan, Inc. is expanding its growing fleet of Jones Act product tankers having signed a definitive agreement valued at an all-in price of $568 million with Philly Tankers LLC to take assignment of contracts for the construction of four…
Evergreen Group signed an agreement with CSBC Corporation, Taiwan to build ten 2,800 TEU class B-type vessels. Witnessed by Evergreen Group's Second Vice Group Chairman Bronson Hsieh, the contracts were signed by EMC Chairman Anchor Chang and CSBC Chairman Sun-Quae Lai…
The Great Eastern Shipping Company Ltd. (G E Shipping) signed a contract to sell, a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel is being built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines and will be delivered to the company in August/September 2015…
Maharashtra Chief Minister Devendra Fdnvis has said that the state's proposed port in terms of traffic in Palghar Dahanu district will compete with the port in Gujarat Mundda, reports PTI. 'There is natural draught of 20 metres to receive bigger ships…
Indonesian authorities have seized the tanker, MT Joaquim, believed to have been used by pirates to siphon 3,500 tonnes of crude oil on Saturday, according to a report in Bernama. The tanker was detained at about 4pm today (August 11), in the waters off Dumai…
China Government has struck back at the United States criticism that it restricts navigation and overflights in the South China Sea amid a festering marine territorial dispute with some of its neighbors, reports Reuters. China claims most of the South China Sea…
Indian Oil Corporation (IOC) has begun initial works for setting up the Rs 5,150-crore ($830 million) liquefied natural gas (LNG)terminal at Ennore, Chennai. LNG terminal would be ready by 2018, said the company Chairman B Ashok. The company…
Thailand-based construction firm Italian-Thai Development is planning to construct a liquefied natural gas (LNG) import terminal at Dawei industrial zone Myanmar, with an investment of $500m says a news story in the Reuters. A press release from Roland Berger…
An article in WSJ highlighted the Greek shipping industry, which it says has 'emerged largely unscathed' from the nation's recent financial troubles. The reports say that shipping companies in Greece are buying vessels from cash-strapped competitors and German banks…
Orient Overseas (International) (OOIL), the parent company of Orient Overseas Container Line (OOCL), said its profit had risen 32 percent year on year (y/y) to $238.6 million in the first six months of 2015, due cheaper fuel costs helped it tide over a slump in freight rates…