GE Aviation plans US$30m expansion of Singapore facility GE Aviation is spending US$30 million to expand its Singapore-based aero engine overhaul facility. The expansion will position GE Aviation Service Operation (GEASO) to more than double its revenues over the next five years, according to Scott Donnelly, president and CEO of GE Aviation.
MISC Q3 profit drops 53% as operational costs rise Malaysian shipping line MISC Bhd reported a 53 per cent drop in third-quarter profit yesterday, dragged down by higher operational costs arising from escalating bunker prices.
Shipping cost for commodities poised to rise The cost of shipping commodities such as iron and wheat around the world is almost certain to increase due to demand from China, India and emerging economies and thanks to port congestion in major exporting countries.
Admiralty Casebook
English law principles sink suit THE owners of a vessel that waited too long to seek an anti-suit injunction to restrain proceedings in a Belgian court have failed to have the injunction extended even though the charterparty provided for disputes to be resolved by arbitration in London.
GE Aviation plans US$30m expansion of Singapore facility GE Aviation is spending US$30 million to expand its Singapore-based aero engine overhaul facility. The expansion will position GE Aviation Service Operation (GEASO) to more than double its revenues over the next five years, according to Scott Donnelly, president and CEO of GE Aviation.
MISC Q3 profit drops 53% as operational costs rise Malaysian shipping line MISC Bhd reported a 53 per cent drop in third-quarter profit yesterday, dragged down by higher operational costs arising from escalating bunker prices.
Shipping cost for commodities poised to rise The cost of shipping commodities such as iron and wheat around the world is almost certain to increase due to demand from China, India and emerging economies and thanks to port congestion in major exporting countries.
Admiralty Casebook
English law principles sink suit THE owners of a vessel that waited too long to seek an anti-suit injunction to restrain proceedings in a Belgian court have failed to have the injunction extended even though the charterparty provided for disputes to be resolved by arbitration in London.
Accidents double on fleet boom, officer shortage DNV's statistics show that a ship is twice as likely to be involved in a serious incident today compared to five years ago.
Skill shortage sparks officer pay rise
Gioia Tauro 'controlled by mafia for over a decade' ITALIAN parliamentary commission report says mafia has been using port as base for illegal trafficking.
Odfjell cancels 12-ship Sevmash order NORWEGIAN shipowner cites yard's lack of funding as reason for axing $500m deal.
No let up in the pulling power of KG funds KG INVESTORS set a new record and paid an enormous $5.3bn into shipping funds.
A sharp eye on the facts THE EU's Common Fisheries Policy is a topic designed to raise hackles and promote overwhelming anger in Britain's fishing communities.
Odfjell cancels 12-ship Russian deal ODFJELL, the Bergen chemical carrier company, has cancelled an order for up to 12 ships placed in 2004 with the Sevmash shipyard
Cosco to focus on offshore, bulk BUOYED by encouraging financial results Cosco Corp of Singpore is seeking to focus mainly on offshore and bulk
US upgrades navigation system THE General Lighthouse Authorities of the United Kingdom and Ireland today applauded the US decision to implement an enhanced radio-navigation system
Stena shoots down airlines STENA Line is stemming the flow of people using low-cost airlines and attracting them back to its ferry services on the Irish Sea, according to its Irish Sea director
Master questioned Investigating judge takes the statement of the master of a tanker suspected in a crude spill off Argentina.
Vafias turns to verse A broker turned rapper turned shipowner keeps an eye on freight rates, Lamborghinis and models in skimpy bikinis as he bids to be TradeWinds' Limerick Laureate.
Superferry hull damaged Dry-dock period extended after the ropax fast-ferry Alakai is damaged in the annual dry-docking process.
Conrad to build ferry Louisiana shipbuilder signs $50.3m in contracts for a 600-passenger ferry, 14 barges, two tugs and a ferry repair.
Canada freezes tolls Tolls to remain stable on the St Lawrence Seaway's Canadian waters in an effort to boost Great Lakes shipping.
Ferry sinks, killing up to 23 A Brazilian ferry sinks in the Amazon River after hitting a barge carrying fuel tanks.
Size no issue for D'Amico Opportunistic tanker owner is looking for takeover targets after securing a series of lucrative purchase options.
Navios profits swell US-listed bulker owner posts $197m in profits as the company sells vessels to a spin-off and boosts its fleet revenue.
Gudnason quits Eimskip Icelandic container line's boss moves on to other projects, with deputy stepping up in short-term.
Rig Tenders to buy two Indonesian owner planning $35m fundraising drive to add to fleet.
Take three for Hosco Fresh bid for Hong Kong listing could be worth $800m for Hebei Ocean Shipping.
Odfjell axes $500m order Fall out with Russian yard sees 12 ship newbuilding contract cancelled.
Thailand eyes big league Government to make its shipbuilding industry world class by introducing a series of incentives
Elecon still keen Indian engineering group will bid again for Alcock Ashdown shipyard if tender is resurrected.
Child labour case dismissed Solid Shipping of the Philippines cleared of employing kids in onshore operations.
Fleet growth boosts Hornbeck Louisiana-based offshore and tank-barge operator makes more in 2007 due to acquisitions and "favourable market conditions."
Grindrod gets better South African tanker and bulker owner hikes 2007 profit in healthy market.
Hit and MISC Revenues up but net profit sliced in half in third quarter at Malaysian owner MISC Berhad.
Wilson's spending pays off Strong fourth quarter for the Norwegian shortsea specialist with more ship demanding higher rates.
Court demands Lady East sale Rusting bulker could be set for scrap after judge issues papers demanding the vessel be sold.
All systems GO Michael Tartsinis-led bulker owner cashes in on its bigger fleet with earnings up and operating costs cut.
Going, going, gone Georgia's fleet evaporates as last state-owned vessel bought by Marshall Islands owner.
Siem soars again Big improvement in 2007 profit in strong supply ship market for Norwegian owner.
Conversion score for Cosco Corp Singapore yard and bulker owner almost doubles annual sales on back of conversion and offshore projects.
Ferry sinks in Philippines Coast guard monitoring for pollution after vessel goes down in Cavite port, but no injuries reported.
Murmansk loses icebreakers Russia to transfer management of nuclear-powered fleet from tanker owner to atomic energy agency Rosatom.
Spot not hot for Brostrom Swedish product tanker owner sees annual profit fall as spot market suffers at both ends of the year.
PGS on a roll Oslo-listed seismic survey vessel player has new boss as it announces best ever annual profit.
JB Ugland Shipping sold to India for USD 300 million JB Ugland Shipping (JBUS) has been sold to Indian Siva Ventures for USD 300 million (NOK 1.6 billion) with a fleet of 23 tankers and 18 bulk carriers, including newbuildings. The JBUS management headed by CEO Bjørn Bergsland will ...
Odense signs up with Pacific Basin for four ro-ro's Odense Steel Shipyard has signed up with Hong Kong based Pacific Basin Shipping Limited for two ro-ro vessels (plus two options) for delivery in the years from 2009 to 2011 for a total sum of USD 375 million. Pacific ...
Broström result pressed by weak spot market Broström reports a pre-tax result of SEK 450 million (EUR 48.3 million) in 2007, down by SEK 130 million (EUR 14 million) compared to 2006. Net sales amounted to SEK 3,504 million (EUR 376 million), up by SEK ...
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