Strategic Marine Delivers CTV Pair to WEM Marine
Singapore-based Strategic Marine delivered a pair of 27m CTVs to WEM Marine Ltd, a UK-based offshore support vessel provider with a growing fleet servicing the renewable offshore wind energy sector. This is WEM’s first order with the Strategic Marine Group.To date Strategic Marine has delivered 23 CTV’s to offshore wind vessel operators, according to Chan Eng Yew, CEO of Strategic Marine.The CTVs were both built in Singapore, designed to meet the specific requirements of WEM who intends to deploy the vessels in UK and European waters.
Damen Patrol Vessels for Offshore Nigeria
Damen recently delivered a pair of FCS 3307 high-spec patrol vessels to be operated by Homeland Integrated Offshore Services (Homeland IOS Ltd) in Nigeria, and now the boats are being prepared for their assignments. The boats will be deployed in the Gulf of Guinea to protect and support the offshore assets of Homeland’s clients which include many international oil companies.Features of the 33-m vessels include Damen’s trademark Axe Bow hull form that delivers excellent fuel economy and a top speed of 29 knots together with superb maneuverability and excellent seakeeping.
Study Shows LNG Forming Pathway to IMO 2050
Greenhouse Gas (GHG) reductions of up to 21% are achievable now from LNG as a marine fuel, compared with current oil-based marine fuels over the entire life-cycle from Well-to-Wake (WtW).An independent study report confirms that emissions of other local pollutants, such as sulphur oxides (SOx), nitrogen oxides (NOx) and particulate matter (PM), are close to zero when using LNG compared with current conventional oil-based marine fuels.The study, commissioned by SEA\LNG and SGMF, was conducted by leading data and consultancy provider thinkstep according to ISO standards.
MethaShip Project Projects Methanol as Future Fuel
The Methanol Institute has welcomed the findings of the MethaShip research project which has concluded that renewable Methanol offers a long term solution for the industry’s ambitious carbon emission reduction strategy.The MethaShip partners found that Methanol can offer a dramatic improvement in emissions reduction across multiple ship types once the IMO has established the statutory framework conditions necessary for an industry-wide reduction of CO2 emissions.“The whole shipping sector is facing major challenges with ever stricter emission regulations for ships…
Caterpillar CEO Joins Chevron Board
U.S. oil and gas producer Chevron Corp named Caterpillar Inc Chief Executive Jim Umpleby to its board of directors on Thursday, replacing the recently retired John Watson. Umpleby, who has led Caterpillar since January 2017, will join Chevron's board on March 1, bringing Chevron's board to 12 members. He will serve on the board nominating and governance committees, Chevron said in a statement. Umpleby doesn't serve on any other corporate boards besides Caterpillar's. John Watson retired on Wednesday as chairman of Chevron's board and chief executive.
Caterpillar says Wall St "too optimistic" on 2017 Profit Estimate
Caterpillar Inc, the world's largest construction and mining equipment maker, said analysts' earnings expectations for 2017 were "too optimistic" as oil prices continued to remained volatile. The company, however, said it was encouraged by the potential of a U.S. infrastructure bill, tax reforms, commodity prices and the recent announcement by the Organization of the Petroleum Exporting Countries (OPEC) to curb production. Oil prices soared more than 10 pct on Wednesday as…
Trump Win Boosts Coal, Hits Renewable Stocks
The prospect of an abrupt shift in U.S. climate policy under President-elect Donald Trump lifted the shares of U.S. mining equipment giant Caterpillar Inc, North American railroads and other companies tied to fossil fuels, and slammed shares of renewable energy firms. Trump has called climate change a hoax, said he would rip up the Paris climate treaty and promised to revive the U.S. coal sector. His victory caused dismay at a climate policy conference in Morocco on Wednesday. In the United States, the prospect of a sharp turn in U.S.
Caterpillar Could Shed 2,000 Belgium Jobs
Heavy machinery maker Caterpillar Inc said it could lay off about 2,000 employees at a plant in Belgium, as it considers shifting production to other facilities as part of a restructuring program announced last year. The company, which manufactures construction equipment at the plant in Gosselies, Belgium said it may shift the production to its facility at Grenoble, France and other locations outside of Europe. Caterpillar said in September 2015 that it will cut as many as 10…
Caterpillar Acquires M2M Expanding Cat Connect Suite
Caterpillar Oil & Gas has announced it has completed the acquisition of M2M Data Corporation (M2M). Headquartered near Denver, Colorado, M2M offers turnkey hosted solutions enabling customers to monitor their assets, perform remote diagnostics and streamline maintenance and dispatch to achieve operational excellence. In addition to serving gas compression, M2M has expanded into adjacent Oil & Gas markets over its 17 year history. “This acquisition will expand our existing suite of Cat Connect offerings across the Cat Connect Digital Services Technology Platform…
Caterpillar Launches C175-16 IMO Tier II Generator
Caterpillar Oil & Gas has introduced its newest C175-16 IMO Tier II Emissions Certified Generator Set. Rated at 2800 bkW (3755 bhp) / 2660 ekW at 1,800 rpm, this new generator set has the ability to meet stringent safety requirements for emergency applications or can be adapted to meet main power or essential offshore requirements. “What’s significant about this product launch is that we’re putting out a higher rated power at 1,800 rpm and we’re doing it with fewer cylinders than what our competitors use for similar density…
Wall St Hemorrhages as Oil Falls, China Fears Deepen
Wall Street bled on Friday, with the S&P 500 sinking to its lowest level since October 2014 as oil prices sank below $30 per barrel and fears grew about economic trouble in China. Pain was dealt widely, with the day's trading volume unusually high and more than a fifth of S&P 500 stocks touching 52-week lows. The major S&P sectors all ended sharply lower. The Russell 2000 small-cap index dropped as much as 3.5 percent to its lowest level since July 2013. The energy sector dropped 2.87 percent as oil prices fell 6.5 percent…
Caterpillar Launches Asset Financial Solutions
Press Release - Caterpillar Oil & Gas has announced the introduction of Asset Financial Solutions, a financial product that provides 100 percent financing new offshore or marine assets. The new solution enables Caterpillar to offer customers a tailored solution to optimize their business and expand their fleets without raising additional capital or taking on project construction risk. “Our message is clear: we have a proprietary new financing model for the offshore industry that can help our customers succeed and grow despite down cycle market conditions…
Carolina CAT Leads NC Solar Farm Project
Carolina CAT Power Systems, a provider of service, parts and sales of power generation equipment, is completing the final stages of construction for a new 10-acre solar farm in Shelby, N.C. Scheduled to open in late June 2015, the site will contain 9,828 panels and produce 3MW DC of electricity, enough to power approximately 250 homes, which will be procured by Duke Energy and added back to the North Carolina power grid. “We are thrilled to be a part of the renewable energy movement…
Fourth Vessel Joins Topaz Energy ERRV Fleet
Topaz Energy and Marine, a leading offshore support vessel company, has bolstered its Emergency Response and Recovery Vessel (ERRV) fleet with the addition of a new vessel, Topaz Responder. The newly-built, state-of-the-art Topaz Responder will primarily provide safety support to offshore installations but is versatile enough to also provide general offshore support services. Constructed to the highest standards, the vessel was built in the ship building yard by Topaz Energy and Marine’s sister company, Topaz Engineering, in Mussafah, Abu Dhabi.
Caterpillar CEO Joins ExxonMobil Board
Exxon Mobil Corporation announced today that its shareholders have elected Doug Oberhelman to its board of directors. Oberhelman is chairman of the board of directors and chief executive officer of Caterpillar Inc. With the election of Oberhelman, the ExxonMobil board stands at 12 directors, 11 of whom are non-employee directors. Oberhelman was named CEO and chairman of Caterpillar’s board in 2010. Prior to that, he served as group president of various divisions within Caterpillar from 2002 to 2010, and was elected a Caterpillar vice president and chief financial officer in 1995.
LNG America to Provide Scandrill LNG for Drilling
LNG America and Scandrill have signed a joint marketing agreement to provide a comprehensive solution for LNG-fueled drilling operations in the Gulf Coast region. Among Scandrill’s rig fleet are eight bi-fueled units, with the two newest incorporating advanced technologies for reliably optimizing LNG/diesel substitution rates upwards of 60 percent. The LNG America-Scandrill relationship will provide operators with the opportunity to drill their prospects with state of the art drilling equipment fueled economically by clean burning natural gas.
Caterpillar, First Solar to Develop PV Solar Solutions
Basic human needs―including access to clean water, health care and education―rely on one critical element: energy. However, today, more than 1.3 billion people lack access to electricity and billions more need access to a reliable grid. Caterpillar’s Electric Power Division is working to resolve these issues by providing a variety of advanced power solutions. Caterpillar and First Solar, Inc. today announced a strategic alliance to develop an integrated photovoltaic (PV) solar solution for microgrid applications.
Caterpillar CEO: Dip in Oil Prices a Headwind in 2015
Caterpillar Inc chief executive Doug Oberhelman said on Friday that oil prices have been a headwind for the manufacturer and will continue to be in 2015. Oberhelman, speaking at an Export-Import Bank conference, said the problem is partly offset by the fact that Caterpillar products use diesel fuel. He said a dip in diesel prices has helped the U.S. economy. Reporting by Krista Hughes
Caterpillar Forms New Analytics & Innovation Division
To better capitalize on the growing importance and excitement of data analytics and to drive innovation to support customers, Caterpillar Inc. today announced the formation of a new division, Analytics & Innovation (AI), which will be led by Caterpillar Vice President Greg Folley. The division will bring together the people and resources that will foster a culture with innovation at the core, form a broad and connected analytics ecosystem and manage strategic third party relationships with providers like Chicago…
Reed Nominated to Caterpillar Board
Caterpillar Inc. announced today that the Caterpillar Board of Directors has nominated Debra L. Reed to join the Board, with the election to occur at the June 2015 annual stockholders meeting. Reed, 58, is the Chairman and CEO of Sempra Energy, a San Diego, California-based energy company. She began her Sempra Energy career in 1978 as an engineer and worked her way into leadership positions at Sempra Energy, as well as Southern California Gas Co. and San Diego Gas & Electric, Sempra Energy’s two regulated California utilities.
