Northrop Grumman 3Q profit rises, boosts forecast

Defense contractor Northrop Grumman Corp. said on Wednesday that its third–quarter profit edged up on contributions from its aerospace, electronics and technology businesses, and boosted its earnings guidance for the year.
Shipbuilding was the only operating segment where profit dropped in the latest quarter.
Defense companies are under pressure to cut costs from the Pentagon and other weapons buyers. That has forced most of them to shrink, and Northrop is looking at selling or spinning off the shipbuilding unit, although it hasn't made a decision yet.
Click here to see more at tmcnet.com

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Croatia: Government approves 17.5 million Euro guarantee for Rijeka´s shipyard

The Croatian government has approved a 17.5 million Euro guarantee for Rijeka’s '3. Maj' shipyard to finish the construction of four ships ordered by Swedish clients in June.
The warranties were given to Zagreb Bank, Hrvatska Postanska banka and the Croatian Bank for Reconstruction and Development (HBOR).
Click here to read at croatiantimes.com

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Nigeria, Korea explore new fields of economic partnership, bilateral relations

When the director general, Nigerian Maritime Administration and Safety Agency (NIMASA), Temisan Omatseye, led a delegation of Nigerians to South Korea, the infrastructure gaps identified in the Nigerian maritime sector were huge. They include inadequate modern shipyards, as the biggest shipyard facility in the country currently has 25,000 tons lifting capacity.

Also, there are no ship demolition and recycling facilities in the country despite the large number of wrecks and abandoned ships that litter the nation’s waters and lack of functional container freight stations in strict technical sense despite vast hinterland with cargo commercial metropolis.  

ICT enablers are yet to be fully developed in port, shipping and logistics operations in Nigeria; there are no distribution, logistics and maritime industrial parks.  Yet, most of the imported goods into West and Central African sub-region come through Nigerian ports.  Passenger ferry service is underdeveloped despite large populated communities with the creeks and coastal areas of the Niger Delta that can only be accessed through water mode.   While there is only one Maritime Academy in the country at present, therefore, the country is faced with acute shortage of qualified seafarers.

Click here to see more at independentngonline.com

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Daewoo sale 'all ready'

Concerning the sale of Daewoo Shipbuilding & Marine Engineering, the Korea Development Bank president Min Yoo-sung said on Thursday, "The preparations are enough and we are now just selecting the right timing." 
Click here to read more at Asiasis.com

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Russia: Shipbuilding industry needs USD 12.8 bln in order to continue

The commercial shipbuilding industry is suffering from a dwindling fleet and scant domestic manufacturing, while needing USD 12.8 billion in investment over the next decade to keep the fishing fleet afloat, the government informed.

At the first meeting ot the newly established subcommission on fishery and aquatic farming of the Union of Entrepreneurs and Industrialists, Igor Orlov, chief executive of the Yantar Baltic Shipbuilding Plant, stressed that the shipbuilding industry could make a comeback, reports The Moscow Times.

Click Here to read more at FIS.com

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Rig Report: Atwood Oceanics' CEO analyzes offshore rig trends

Focusing on both jackups and floaters, Atwood Oceanics (NYSE: ATW) CEO Rob Saltiel offers PennEnergy readers insight into emerging trends in the offshore drilling rig market.
With nine existing rigs – four shallow-water, two midwater and three deepwater – Atwood Oceanics is growing both on the ultra-deepwater front and in the shallow-water arena with four rigs currently under construction.
Click here to read more at Pennenergy.com

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