Havyard Group ASA had yet another good year, recording an operating profit before depreciation (EBITDA) of NOK 199 million for 2013. The pre-tax profit amounted to NOK 190 million (NOK 215 million in 2012), which means a net profit ratio of 10% on a turnover of NOK 1,987 million (NOK 1,427 million i
Mitsubishi Heavy Industries, Ltd. (MHI) has decided to book an extraordinary loss of approximately $585 million from its cruise ship business in the company’s consolidated financial results for fiscal year (FY) 2013 (ending March 31, 2014). In November 2011 MHI received an order for two large-sized
China Offshore Oil Engineering Co. Ltd (COOEC), one of the largest offshore engineering and construction companies in China, has named the multipurpose subsea construction vessel HAI YANG SHI YOU 289. The vessel, classed by DNV & CCS, belongs to the STX OSCV 11L design. With her 250Te AHC crane and
The maritime companies Ulstein and Kleven signed today, as the first two companies in Søre Sunnmøre, the recruiting agreement “Ripple Effects” with Furene AS. “Ripple Effects” is a recruitment strategy organized by NHO (Confederation of Norwegian Enterprise). The goal is to get people, who for vario
Metso has received an order from STX France to supply an advanced vessel-wide automation system, including sophisticated energy management solutions, to the world’s largest cruise vessel, Oasis 3. Royal Caribbean International’s third vessel in the Oasis class series is currently under construction
LNG shipping company Nakilat and its shipyard joint ventures, shipbuilder Nakilat Damen Shipyards Qatar (NDSQ) and ship repairer Nakilat-Keppel Offshore & Marine (N-KOM), are showcasing the world-class capabilities of Qatar’s premier shipyard at DIMDEX, the MENA region’s leading maritime defense exh
With the introduction of its new Wärtsilä 46DF engine, Wärtsilä, the marine industry’s provider of innovative products, solutions and services, has raised the technology bar in the dual-fuel engine market. At the same time, it has strengthened its offering in the medium-speed engine sector. The fuel
A merger between Chilean shipping company, Compañía Sudamericana de Vapores (CSAV) and the German company Hapag Lloyd is one step closer to being reality. In a Special Shareholders Meeting, held last Friday in Valparaíso, an 84.5% of CSAV’s total shareholders approved the merger of the company’s con
Uzmar Shipyard has launched the second of six line handling tugs being built for Kuwait Oil Company, the ‘KOC MUSANED-2’. These 20 m compact boats are reputed to be the smartest tug of its class by the designer Robert Allan Ltd. Capt. Kaan ALTUG, Board Member of UZMAR during his speech stated: “We c
Hyundai Together Takes Off with World’s Largest Boxship Propeller The world’s largest container ship propeller was loaded onto the Hyundai Together at the HHLA Container Terminal Altenwerder on Saturday. DSME to Build 1st ARC7 Ice-Class Tanker for Yamal Russia’s state-owned shipping company Sovcomfl
Bergen Group ASA today signed an agreement with Calexco S.a.r.l. regarding revisions of the terms for Bergen Group ASA’s sale of the majority interest in NorYards AS to Calexco. The main deviations from the SPA executed in July 2013, as further described in Bergen Group’s detailed announcement dated
Norwegian Deck Machinery (NDM) has been awarded a contract by Tersan Shipyard to supply deck machinery for Volstad Shipping’s new offshore construction vessel. The vessel is of Skipsteknisk ST-259 design, purposely built for the Arctic waters. Specially designed for operation under severe weather co
Master Divers will open a regional office in Hambantota to meet the growing demands of the shipping industry. Chairman of Master Divers, Ariyaseela Wickaramanayake said they will open a ship repair yard and a logistics centre. “We are hoping to invest around US $ 100 million in this project,” he sai
German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) successfully launched ‘Loch Seaforth’ at noon today for Scottish customer Caledonian Maritime Assets Limited (CMAL). The ship is a state-of-the-art, complex RoPax ferry built to carry up to 700 passengers and 143 cars, or 20 trucks. In just
