CIT Group launches maritime finance business
NOVEMBER 13, 2012 — Svein Engh has been appointed Managing Director and Group Head of CIT Maritime Finance, a new business launched by CIT Group Inc. (NYSE: CIT) to originate and underwrite
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Crowley tug crew makes heroic San Francisco Bay rescue
NOVEMBER 12, 2012 — Crowley Maritime Corporation reports that the crew aboard its tugboat Guard recently performed a heroic rescue of a man who was struggling to stay afloat in the waters
Maersk profits soar in third quarter
NOVEMBER 9, 2012 — Despite taking a $267 million impairment hit on its tanker unit, A.P. Moller – Maersk has turned in what Group CEO Nils S. Andersen (left) terms “a good
New MHI propeller promises major fuel savings
NOVEMBER 8, 2012 — Japan’s Mitsubishi Heavy Industries (MHI) has introduced a high performance propeller that it says can improve the propeller efficiency of containerships by 5 percent. This yields a potential
New Crowley tug assists stranded Cuban boxship
OCTOBER 31, 2012—The first of four Crowley Maritime Corporation ocean class tugboats, Ocean Wave, completed its inaugural project earlier this month by removing a grounded containership from the northern coast of Cuba. The
MAN Diesel & Turbo unveils EGR engine
OCTOBER 31, 2012 — MAN Diesel & Turbo has unveiled the first IMO Tier III-compliant diesel engine utilizing EGR (Exhaust Gas Recirculation). The presentation took place at a ceremony at the Ulsan,
NOL Group has a profitable third quarter
OCTOBER 25, 2012 — APL’s parent NOL Group today reported net earnings of US$50 million for the third quarter of 2012, a US$141 million turnaround from the US$91 million net loss in
Rederi TransAtlantic buys Merlinja assets
OCTOBER 19, 2012 — Heléne Mellquist, the recently appointed CEO of the Industrial Shipping Division of Sweden’s Rederi AB TransAtlantic is “very excited” that TransAtlantic has acquired the customer base of Finnish
Flensburg shipyard cuts steel for Canada’s largest ConRo
OCTOBER 19, 2012 — Representatives from Canadian short sea shipping specialist Oceanex Inc. were in Flensburg, Germany last week for the cutting of first steel for Oceanex Connaigra at shipbuilder Flensburger Schiffbau-Gesellschaft.
Austal books new orders for wind farm service vessels
OCTOBER 18, 2012 — U.K.-based Turbine Transfers has awarded Austal a new contract worth about GBP 10.5 million (about $17 million) for the design and construction of three offshore wind farm support