Finance
382 stories, page 6 of 16
GE to Move US Engine Plant to Canada
General Electric Co said on Monday it will move production of large, gas-powered engines to Canada from Waukesha, Wisconsin, along with 350 jobs, to access export financing no longer available in the United States. In…
Caterpillar May Cut up to 10,000 Jobs
Caterpillar Inc said it could cut up to 10,000 jobs through 2018 as part of its restructuring and cost reduction plans to save up to $1.5 billion annually. The company said on Thursday that it would cut 4,000-5,000 jobs…
Caterpillar Launches Asset Financial Solutions
Press Release - Caterpillar Oil & Gas has announced the introduction of Asset Financial Solutions, a financial product that provides 100 percent financing new offshore or marine assets. The new solution enables…
WGMA Urges Participation in Menhaden Survey
The West Gulf Maritime Association (WGMA) is urging its members with ships arriving at any port in the western US Gulf to participate in the Menhaden survey. The annual Menhaden spawn (typically April through October)…
Concerns Remain Over the Use of Low-sulphur Fuel
As a global move toward using cleaner fuel takes place, countries are forming new or reforming old regulations which see jurisdictions increasingly demanding the use of low-sulphur fuel in ships that berth in their…
Wartsila to Equip Giant Dredger
A contract has been signed with the Tianjin Dredging Company, part of the China Communication Construction Company (CCCC) and the recently founded Dredging Group, under which Wärtsilä will supply the engines and all…
Hercules-2 Officially Launched
MAN Diesel & Turbo, Wärtsilä and Winterthur Gas & Diesel to collaborate on major, EU-funded project. A major cross-industry initiative led by MAN Diesel & Turbo, Wärtsilä, and Winterthur Gas & Diesel, to develop basic…
EU Funds Port Move
The Port of Cork has received almost EUR13 million in EU funds for the Euro100 million redevelopment of Ringaskiddy, as part of plans to modernize the port. The funding comes under the Connecting Europe Facility (CEF)…
ECOCHARGE Takes Significant Step
MAN Diesel & Turbo’s two-stage turbocharging development project, ECOCHARGE, recently passed a significant milestone on its way to a successful market introduction. The company reports that individual MAN TCR20 and MAN…
Caterpillar Increases Dividend Rate 10%
The board of directors of Caterpillar Inc. voted to increase the quarterly cash dividend by 10 percent to $0.77 per share of common stock, payable August 20, 2015, to stockholders of record at the close of business on…
DNV GL sees Hybrid Propulsion, Connectivity the Emerging Trends
With 2020 in sight, DNV GL looked at the lessons to be learned from the update to the classification society’s “Shipping 2020” report which was published in 2012. Now, three years later, hybrid propulsion systems and…
US Funding for Air Emissions/Alternative Energy Projects
The U.S. Maritime Administration (MARAD) announced that up to $1.3 million in Federal funding is now available through cooperative agreements for projects supporting vessel emissions reductions and alternative energy…
Rolls-Royce to Cut 600 Marine Unit Jobs
British engineering group Rolls-Royce said it would cut 600 jobs in its Norwegian-focused marine business in response to the lower oil price, a move it said would have a "broadly neutral" impact on 2015 profits…
Volvo Penta Offers Extended Warranty
Volvo Penta has doubled the warranty on Genuine Volvo Penta Parts and Accessories that are purchased and installed at a Volvo Penta dealer — creating even better protection for customers. Volvo Penta offers a…
ClassNK releases PrimeShip-GREEN/ProSTA
ClassNK released PrimeShip-GREEN/ProSTA, making it the world’s first classification society to develop software which analyzes and calculates a ship’s speed trial results for EEDI calculation in compliance with the…
EPA Awards Clean Diesel Grants to US Ports
The U.S. Environmental Protection Agency (EPA) awarded $5 million in grant funding for clean diesel projects at U.S. ports. The selected projects in California, Oregon, New Jersey and Texas will improve the air quality…