South Korean shipbuilder Hyundai Heavy Industries Co Ltd said on Tuesday that it plans an initial public offering (IPO) to raise funds toward a 1 trillion won ($905 million) investment over five years into green technology.Hyundai Heavy will issue a stake of about 20% in new shares within the year, the shipbuilder said in a statement.
Joe Hudspeth is the Director of Business Development for Global Marine at BAE Systems in Endicott, N.Y. BAE Systems offers complete, efficient propulsion and auxiliary power systems utilizing electric technology. Hudspeth has been involved with maritime sales, marketing and product development since 2000.
Ferry firm Stena Line’s role in the roll-out of Pfizer’s COVID-19 vaccine is going well, and the firm is prepared to deal with any eventuality of Brexit trade talks, the company’s Brexit chief said on Friday.“We have trust and confidence in the government to use these last few days (of Brexit talks) wisely...
While there is no consensus on what will be the maritime 'fuel of the future', developers across the world are for the first time testing the use of hydrogen to power ships as the maritime industry races to find technologies to cut emissions and confidence grows the fuel is safe to use commercially.
Mauritius’ Prime Minister Pravind Jugnauth said on Wednesday nearly all remaining oil had been removed from a damaged Japanese ship, which leaked about 1,000 tonnes in a threat to tourism already hurt by the coronavirus pandemic.“At the time I’m talking to you, almost all the oil has been removed from the ship,” Jugnauth told reporters, according to remarks shared by his office.
The United States has an opportunity to accelerate offshore wind energy growth, and benefit from 28 new gigawatts of wind power and $1.7 billion in U.S. Treasury revenue by 2022, according to a study released by the energy intelligence group Wood Mackenzie. Apart from the benefits to the Treasury, the offshore wind industry in the U.S. could create 80,000 jobs annually from 2025 to 2035.
How do you see business today, and where is Cummins looking for opportunities as COVID-19 and volatile oil markets generate market uncertainty?Even in the current state, we are still seeing a solid level of interest and activity in the commercial marine space. Scheduling has been impacted and some areas have slowed down, but overall, the marine industry is very much still active around the world.
Frank Coles, CEO, Wallem Group, is known to “call ‘em like he sees ‘em”. We caught up with Coles via video conference from Hong Kong last month to discuss the impact of COVID-19 on maritime, the future of digitalization and autonomy, and the shameful treatment of seafarers. “The only shock to my system that was at the same level was 9/11, because of its impact on the world
The U.S. Navy hospital ship Comfort departed New York harbor on Thursday, just a month after arriving to help ease the strain on overburdened city hospitals dealing with the novel coronavirus outbreak.The 1,000-bed Navy vessel, headed back to its home base in Norfolk, Virginia, never neared its capacity, even as the city quickly became the world’s epicenter for COVID-19 infections.
The search for the Argentinian submarine was like hunting for the proverbial needle in a hay stack, except that it was a piece of straw. Elaine Maslin reports. At 7.19am, local time, on November 15, 2017, the last message was received from the San Juan submarine. She belonged to the Argentinian navy and was on a routine mission from Ushuaia in the Patagonia region to Mar del Plata in Buenos
U.S. Treasury Secretary Steven Mnuchin said on Sunday officials will have a better idea this week of the total cost of a coronavirus aid package, but predicted it will likely be "significant but not huge."Mnuchin told "Fox News Sunday" he also planned to talk to lawmakers about critical aid to airlines, as well as the hotel and cruise ship industries.
Offshore marine transportation firm Harvey Gulf International Marine says it has been able to achieve success in the turbulent offshore market by constantly reinvented itself to fit the industry demands.Never afraid to shake things up, Harvey Gulf has maintained this mindset throughout its 70-year-history, says CEO Shane Guidry.