Finance
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New GAC Bunker Trader for Bergen Team
GAC Bunker Fuels says it has further consolidated its position in the North Sea by appointing Per Steffen Bolstad to the bunker trading team in Bergen, Norway, where he joins bunker trader Christer Benjaminsen. Nicholas…
New Sulphur Rules Force Changes at Stena Line
The new sulphur directive for shipping traffic within the North European SECA area, which comes into force on January 1, 2015, is good for the environment but has a significant economic impact on Stena Line's business…
PetroChina Reviews Push for Transport LNG
China's biggest energy firm PetroChina is reviewing its multi-billion-dollar push to produce liquefied natural gas (LNG) to fuel trucks and ships in place of diesel, shutting two major gas liquefaction plants, sources…
MAN Extends Helping Hand to Mercy Ships
MAN Diesel & Turbo says it has donated the equivalent of $115,000 dollars in service, spare parts and training to keep the engines of the hospital ship 'Africa Mercy', operated by Mercy Ships, in top condition to…
Wärtsilä to Divest its Shares in Two-stroke JV
Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company…
Wärtsilä and CSSC in 2-stroke engine JV
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture, which will take over Wärtsilä’s 2-stroke engine business. Through the agreement, CSSC will own 70% of the…
Good Profitability Noted in Wärtsilä H1 Interim Report
Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014…
MHI, Siemens Outline Alstom Proposal
Mitsubishi Heavy Industries (MHI) and Siemens submitted an offer letter specifying further the proposed transaction to Alstom. With the specified offer MHI and Siemens reaffirm their commitment to strengthen Alstom as an…
Siemens, Mitsubishi Challenge GE with Alstom Offer
Germany's Siemens and Japan's Mitsubishi Heavy Industries presented a joint offer to France's Alstom on Monday that included 7 billion euros ($9.5 billion) in cash, challenging a bid by General Electric. Under the deal…
Sanmar Delivers New RAscal 1500 Line Handling Tug
The Brage, the first RAscal 1500 class tug designed by Robert Allan Ltd. has been delivered to its owners Buksér og Berging AS (BB) of Norway. Built in Turkey by Sanmar A.S. to extremely high quality standards more…
Drydocks World & DMC to build 1st LNG-powered tug
Drydocks World and Dubai Maritime City (DMC), the leading provider of services to the shipping, maritime, oil, gas & energy sector is supporting the "Green Economy for Sustainable Development" initiative launched by His…
Rolls-Royce secures award for four Finnlines Ships
Rolls-Royce has been contracted to install its innovative Promas Lite propulsion system on four Finnlines ships, all to be delivered later this year. Promas Lite is an integrated propeller and rudder system that…
Conrad Announces 2014 Q1 Results
Conrad Industries, Inc. announced its first quarter 2014 results. For the quarter ended March 31, 2014, Conrad achieved net income of $6.4 million and earnings per diluted share of $1.08 compared to net income of $5.9…