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Monthly Archives: December 2015

Lockheed wins $1bn US airforce contract

Lockheed Martin Corp has been awarded a contract worth more than $1 billion for 32 C-130J aircraft, the Pentagon said on Wednesday. The work is expected to be completed by April 2020, the Department of Defense said in its daily digest of major contract awards. Earlier this year, Lockheed announced that it had reached a verbal agreement with the US ...

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Global air cargo volumes dip in November

Global air cargo volumes dropped 0.9 per cent year-on-year (YoY) during November, marking the first monthly decline since June 2013, a report said. Going by the bare worldwide monthly figures, November 2015 was not a good month for air cargo. For the first time in 2.5 years, monthly volume dropped YoY (-0.9 per cent). Although US dollar-yields improved for the ...

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Egypt sugar company reserves at 270,000 tonnes

Egypt’s state-owned Sugar and Integrated Industries Company said that the country’s sugar reserves are at 270,000 tonnes, a ministry of supply statement said on Wednesday. The company exported 42,000 tonnes of brown sugar to Kenya over the past year and 20,000 tonnes of ethanol to European countries, the statement said. The company said it achieved revenues of E£5.8 billion ($740.74 ...

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US preparing fresh sanctions on Iran: report

President Barack Obama’s administration is preparing new sanctions on international companies and individuals over Iran’s ballistic missile programme, sources familiar with the situation said on Wednesday. The Wall Street Journal reported earlier that the potential sanctions would target about 12 companies and individuals in Iran, Hong Kong and the United Arab Emirates for their suspected role in developing Iran’s ballistic-missile ...

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PetroRabigh expansion project faces 9-month delay

The completion of PetroRabigh’s Phase II expansion will be delayed by nine months, raising the cost and forcing the Saudi Arabian petrochemical producer and refiner to seek more cash from shareholders, it said on Thursday. The delay to September 2016 is the latest issue to hit the project, which will let the company manufacture higher margin products but has faced ...

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Panama Canal: Plug Blasting Underway

  The Panama Canal is now 96 percent complete with the removal of the northern plug separating the new Pacific Access Channel from the Culebra Cut. The blasting of the plug began on December 24. Located south of the Centennial Bridge on the Pacific side of the canal, the plug separated Gatun Lake and the 63 kilometer Pacific Access Channel. ...

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[Updated] One Dead, Two Injured on Drill Rig

  One person has died and two were injured on the semi-submersible drilling rig COSL Innovator when a heavy wave hit the rig. COSL Innovator is under contract to Statoil on the Troll field in the North Sea, west of Bergen, Norway. The rig had been taken off the well due to heavy weather when the incident occurred. The wave also ...

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Passenger Vessel Runs Aground Off Papua New Guinea

The passenger / cargo vessel Kimbe Queen went aground on a reef near the Talele Island nature reserve in Papua New Guinea last week. Local media report that ten hours after the grounding, the sixty passengers and crew walked over the reef to get to a fishing vessel, which carried them to safety. Only minor injuries were reported, but authorities ...

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Seabin: A New Way to Clean Up Ports and Marinas

A group of innovators from Spain have designed an automated rubbish bin that catches floating rubbish, oil, fuel and detergents. It is designed for floating docks in the water of marinas, private pontoons, inland waterways, residential lakes, harbors, water ways, ports and yacht clubs. Marinas, ports and yacht clubs are the perfect place to start helping clean our oceans, says ...

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Waigaoqiao Overtakes Mipo as Fifth Largest Yard

Clarkson Research has released rankings showing that Shanghai Waigaoqiao Shipbuilding, a state-owned subsidiary of CSSC, has stepped into the top five shipbuilders in the world with a backlog of 3 million compensated gross tons. The firm displaced Hyundai Mipo Dockyard (the previous fifth largest) by a narrow margin. The yard list has been dominated by Korean shipbuilders for some time, ...

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