EXMAR said that following the terms of the Asset Purchase Agreement, LLOG and EXMAR have reached an agreement in principle whereby LLOG will accelerate the payments due on the sale of the OPTI-EX. EXMAR will receive a lump sum consideration…
Hundreds of current and future shipbuilders will be trained in Marinette pursuant to a contract signed today by Northeast Wisconsin Technical College (NWTC) and Marinette Marine Corporation (MMC). “At Northeast Wisconsin Technical College, we…
A difficult year for Europe and likewise for the shipbuilding industry is ending with encouraging signals from European Institutions, which underline the importance of the sector and the respective understanding of policy makers. The Council…
Guided-missile destroyer USS Pinckney (DDG 91), assigned to Combined Task Force (CTF) 151, disrupted a group of suspected pirates close to the Internationally Recommended Transit Corridor (IRTC), south of Yemen, Dec. 19. The Merchant Shipping Industry Best Management Practices…
Dr. Fraser Smith of Raytheon is the President of Raytheon Sarcos, part of Raytheon’s Integrated Defense Systems business. He’s also the chief proponent of a new technology that could revolutionize how shipyards move, store and retrieve bulky…
Dubai’s vision as a global maritime hub took another major step forward with the launch of the mixed-use Business District at Dubai Maritime City (DMC) under the patronage of HH Sheikh Ahmed Bin Saeed Al Maktoum, Chairman, Dubai World.HE Mohammed Al Shaibani…
Vale SA, the iron-ore producer building a fleet of the world’s largest commodities ships, said its Vvalemax vessels carrying the raw material can stop at other countries if not allowed to enter Chinese ports, according to a Bloomberg report…
Dockwise Ltd. announced 12 new awards totaling $55m, of which six, to the value of more than $15m, are for execution in Q4 2011. The remaining contracts are for execution in 2012 and 2013. Furthermore the company has entered into a Master Service…
In yet another sign that the offshore oil and gas business in the Middle East continues to grow at breakneck speed, Grandweld Shipyards won a contract to design, build, and deliver three 33.5M Fast Aluminum Crew Boats for Zamil Offshore. The contract was signed by Sufyan Al Zamil…
Björn Ingemanson, 53, has been appointed new President of Volvo Penta. Ingemanson is currently President of Volvo Trucks’ International Division and will assume his new position on April 1, 2012, when he will succeed the current President Göran Gummeson…
Bureau Veritas has completed the first certification audit of any shipping company in the world to the new standard ISO 50001- 2011 - Energy Management Systems. Stena’s ship management division, Northern Marine Management Ltd including Northern Marine Management (USA) LLC…
STX France SA received an order to build two luxury cruise ships from Viking Ocean Cruises, an affiliate of Viking River Cruises. The vessels will be delivered in spring 2014 and spring 2015, respectively, and will be part of Viking's new Ocean Cruise brand…
TBS International plc (NASDAQ: TBSI) has reached agreements with its bank lenders on terms to reduce its leverage and refresh its fleet. As part of these agreements, TBS and the syndicates led by Bank of America and DVB Group Merchant Bank have…
While the U.S. economy may be in the doldrums, smart U.S. companies are looking increasingly to exports to help their bottom lines. A major market for U.S. exports is Brazil. This article examines new market opportunities in the oil and gas…
Søren Skou has been appointed new CEO of Maersk Line with effect from 16 January 2012. Søren Skou was previously CEO of Maersk Tankers and replaces Eivind Kolding who is leaving Maersk Line to become Chairman of the Executive Board of Danske Bank…
