Thyssenkrupp on Monday said it was looking for partners for its steel and warship divisions, singling out just three lines of businesses that will stay within the struggling German industrial icon.Hoping to stop the bleeding of cash and restore investor confidence, the group also pooled businesses worth 6 billion euros ($6.
Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA, GasLog said in its latest quarterly report.
Maritime Administration implements new way of doing business in government shipbuildingNot only is the Maritime Administration (MARAD) back in the shipbuilding business with the National Security Multi-Mission Vessels (NSMV), the agency is using an innovative procurement method using an indefinite delivery
The new coronavirus caused barely a blip in China's imports of major commodities, but this likely underscores the ways China differs from the rest of the world, rather than providing a template for the globe's recovery from the pandemic.China's crude oil imports in March, the month when much of the world's second-largest economy was in lockdown, were equivalent to 9.
At least five fully-laden liquefied natural gas (LNG) tankers are idling offshore India, as yet unable to discharge their cargoes, after importers there declared force majeure earlier this week, according to an analyst and shipping sources.Gas demand is falling globally amid the fast-spreading coronavirus which has capped industrial output
French shipping group CMA CGM said its operations in China were returning to normal after the coronavirus outbreak crippled traffic last month, forecasting the health emergency would have a limited impact on its results this year.CMA CGM, the world's fourth-largest container shipping firm
New Jersey-based Rand Logistics announced it has entered into a stock purchase agreement to acquire rival Great Lakes shipping company American Steamship Company (ASC) from Chicago-based GATX Corporation for $260 million.Headquartered in upstate New York, ASC operates the Lakes' largest U.S.
Freight rates for supertankers on the Mideast Gulf and U.S. Gulf routes to Asia have fallen to their lowest since mid-September as the coronavirus outbreak hit Chinese oil demand, ship brokers told Reuters.China's Sinopec Corp, Asia's largest refiner, and so-called "teapot" independent refineries have reined in operations in the face of plunging consumption.
As the demand for goods continues to rise, the need to move a higher number of containers quicker and more efficiently is also increasing with this. As a result, port operators are proactively seeking new ways to boost productivity, all while reducing costs to meet this demand.The emergence of the Industrial Internet of Things (IIoT) is a significant factor in convincing ports to adopt new
Stay in your lane. Ignoring such wisdom can result in catastrophe if you’re drag racing and lead to general unpleasantness on bowling league nights. This same guidance in other circumstances, for example, can be toxic. It can inhibit innovation and, at the worst possible moment, prevent the sensible use of available resources to improve a bad situation.
At the very cutting edge of clean, modern and ultra-efficient propulsion and automation solutions, ABB takes its rightful place amongst MarineNews' prestigious 2019 MN100 winners.The Case:ABB believes that modern ships will be built on the foundation of electricity. This expands their range of viable energy sources beyond traditional fuel to for instance batteries and fuel cells.
In one a dramatic U.S. shipbuilding and repair move it was announced today that The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management signed a definitive agreement to acquire and merge Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Oregon, and MHI Holdings LLC, a ship repair, maintenance