Wärtsilä Corporation has sold all of its 1.987.940 shares in housing investment company Sato Oyj.Wärtsilä will record a capital gain of approximately EUR 25 million on this sale. The tax on the capital gain is approximately EUR 6 million.Sato…
Two members of the Gulf Economic Survival Team testified at a U.S. House Natural Resources Subcommittee on Energy & Mineral Resources Oversight hearing.Two members of the Gulf Economic Survival Team – Chett Chiasson, Executive Director of the Greater Lafourche Port Commission and Cory Kief…
RS Platou Economic Research AS said in a monthly report that global shipbuilding capacity is significantly lower than it was at its peak five years ago.Though a dramatic increase in building capacity among global shipyards has been observed over the last decade…
It is with deep sadness and regret we report that Mr Björn Lagerkvist, former President of the International Council of Marine Industry Associations (ICOMIA) passed away on Friday 1 March 2013 after a long-suffering illness. Mr Lagerkvist…
President Ilham Aliyev reportedly participated in the opening ceremony for the newly built ship repair and shipbuilding production unit of the State Caspian Sea Shipping, News AZ reports.Chief of the Azerbaijani State Caspian Sea Shipping…
Two new engineering scholarships have been established at the National University of Singapore (NUS) in memory of Kathleen Koh Seok Hoon, to commemorate her contribution to engineering consultancy and to offer new students the opportunity to follow in her path…
BIMCO has announced that its new Secretary General/CEO to succeed Mr Torben C. Skaanild on his retirement later this year will be Mr Angus R. Frew, currently Chief Executive of the UK Chamber of Shipping. The appointment of Mr Frew was unanimously…
2,000 lb. Great White Shark Lydia successfully tagged and released off the Coast of Jacksonville, FL by OCEARCH research boat.After enduring ten days of high winds and rough seas off the coast of Jacksonville, FL, the OCEARCH team caught and…
Japan's concern over a standoff with China over the disputed Senkaku Islands deepens and might escalate.The Japan Coast Guard and the Defense Ministry are closely monitoring voyages of the Haijian 50, which can be loaded with helicopters reports Asahi Shimbun…
Novoship tankship 'NS Columbus' the first Sovcomflot Group vessel to receive an IMO 2006 Maritime Labour Convention certificate.The Aframax crude oil tanker NS Columbus underwent an inspection by the Maritime Authority and was declared to…
Vietnam's Ministry of Transport (MOT) propose law be amended to enable scrapping of some 22 Vietnam owned ships flying flags of convenience.According to VietnamNet Bridge a recently released MOT report showed that there are many state-owned and private ships berthed in Vietnam…
Marine and engineering consultancy, London Offshore Consultants (LOC) open new Vung Tau office managed by Kenny Ong.The new office will formally begin operations in May, managed by Kenny Ong, who is highly experienced in major offshore oil and gas projects across Asia…
Sinopacific's Dayang shipyard in China, contracted to build four advanced specification Anchor Handling Tug Supply (AHTS) vessels for Femco Group.The four AHTS’ will have 12240 bhp and 150 tons bollard pull, and are of Sinopacific’s own SPA-150 design to BV class…
The Royal Navy's latest, most advanced attack submarine commissioned into the Royal Navy at HM Naval Base Clyde.Ambush was commissioned into the Royal Navy during a ceremony overseen by the submarine’s crew, naval base workers and around 500 invited guests…
Conservative estimates put the size of recoverable crude oil and natural gas offshore USA the equivalent of nearly 35 years of Saudi Arabia's production.Excerpts from Chevron's case for the need of development of offshore resources follow:U…
