By Mike Stone (Reuters) - General Dynamics on Wednesday reported a 28% jump in its backlog due to a shipyard order for US Navy submarines. Shares fell 1.7% during morning trading after CEO Phebe Novakovic offered guidance during a conference call with investors. She said the company expects “slightly more than” $40.7 billion of revenue, up 4% over 2019,” with an operating … [Read more...]
Wärtsilä To Help Build New LNG Short Sea Shipping Vessels
Wärtsilä will supply all the main equipment for the first LNG fuelled short-sea Ro-Lo (roll-on, lift-off) vessels to be operated by Finland based Bore for the transportation of paper products in Europe Wärtsilä has worked with both the owner and naval architects to develop a vessel optimised integrated LNG system. As a result, it has been possible to locate a 250 cbm … [Read more...]
VW Struggles With Sale of MAN Energy Solutions
By Aaron Kirchfeld (Bloomberg) Volkswagen AG is disappointed with the offers so far for its MAN Energy Solutions division, which makes diesel engines for ships and power generators, according to people familiar with the matter, potentially dealing another blow to the German automaker’s efforts to focus on cars. VW has been holding bilateral talks since last year with … [Read more...]
Rolls-Royce CEO Sets Ambitious Goals
by Sarah Young (Reuters) - Rolls-Royce said it would exceed its 2020 guidance as it announced new ambitious mid-term goals, sending its shares to four-year highs and reflecting investor faith that CEO Warren East can transform Britain’s best known engineering firm. The maker of engines for civil planes, military jets and ships has been in turnaround mode since 2015. … [Read more...]
CMA CGM Slashes Fuel Costs On New Flagship
By Mike Wackett (TheLoadstar) The new CMA CGM Antoine De Saint Exupery, delivered on Friday, will burn up to 25% less fuel due to its technologically advanced engine and optimised water distribution propeller system. The new 20,600 teu flagship of the French carrier was constructed by Hanjin Heavy Industries and Construction (HHIC) in the … [Read more...]