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☆ South Korea is working on an 'arsenal ship' in case it has to shower North Korea with missiles
▼ + stars: | 2023-08-31 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

If completed, they would be the first arsenal ships ever built and would mark another accomplishment for South Korea's burgeoning defense industry. AdvertisementAdvertisementThe arsenal shipAn illustration of a possible arsenal ship published in the US Navy's All Hands magazine in May 1995. South Korean interestA North Korean Hwasong ICBM in March 2022. Given the number and types of missiles South Korea's arsenal ships would carry, they could be involved in all three axes — all while staying mobile. AdvertisementAdvertisementHanwha Ocean's arsenal shipFew details about South Korea's arsenal ship program have been released.

Persons: Shoup, Neil Mabini, Haeseong Organizations: South, North, Service, International Maritime Defense Industry, South Korean, South Korea's Ministry of National Defense, US Navy, US, Russian Navy, Navy, RIM, MGM, Tactical Missile System, Air Force, Getty, Korea Air and Missile Defense, Korean, Daewoo Shipbuilding, Marine Engineering, Naval News, South Korea Defense Ministry, NUR Locations: North Korean, Wall, Silicon, South Korean, Busan, Soviet Union, Korean, Korea, Seoul, South Korea

☆ Meet a millennial who makes up to 6 figures doing blue collar work after ditching law school during the Great Recession: 'We've always had that middle-class-life dream'
▼ + stars: | 2023-07-02 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

During the Great Recession, Doug saw a similar situation and decided to forgo law school. For Doug, blue-collar work has meant consistently high pay and the ability to buy a house. "I was trying to save up money to go to law school," he said. You're going to college, and then you're going to get a job and an office somewhere doing the thing. Have you made the shift to blue-collar work, or are you thinking about it?

Persons: Doug, —, Doug —, he'd, Z, we've, We've, it's, you'll, I'm Organizations: Service, Toyota, Marine, Coast Guard Locations: Deloitte's

☆ The CEO of Malaysia Airlines, Captain Izham Ismail, went from selling snacks as a child to running a fleet of airplanes
▼ + stars: | 2023-07-02 | by ( Chris Johnston | ) www.businessinsider.com time to read: +6 min

Captain Izham Ismail started flying for Malaysia Airlines in 1979 and became its CEO in 2017. Yet despite coming from such a modest background, Ismail went on to become a pilot and then run Malaysia Airlines, one of the world's oldest carriers. Ismail started flying for Malaysia Airlines in 1979, became a captain and a decade later was selected for its senior management training scheme. After running one of its regional carriers and becoming group chief operating officer, Ismail was elevated to CEO of Malaysia Airlines in 2017. Malaysia Airlines has 11,000 staff, down from 35,000 two decades ago, and flies to almost 50 destinations, mostly in Asia, with 106 aircraft that are all leased.

Persons: Izham Ismail, Ismail, it's, —, Captain Izham Ismail, –, Mohd Rasfan, Khazanah, Christopher Mueller, He'd, Sabena, Mat Zain Organizations: Malaysia Airlines, Service, Bournemouth University, Philippine Airlines, MIT, Stanford, Boeing, Netflix, Aer Lingus, Germany's Lufthansa, Malaysian, British Airways, American Airlines . Malaysia Airlines, Qatar Airways, Emirates Locations: Malaysia, England, Malaysia's, Istanbul, London, Court, Kuala Lumpur, Beijing, Ukraine, Russian, Malaysian, Asia

☆ Expert who recovered the Titan sub wreckage says ocean exploration is about 'passion and a joy for exploration'
▼ + stars: | 2023-07-01 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Ed Cassano led the team that recovered the wreckage of the Titan sub. Cassano told a press conference that ocean exploration "was a passion and a joy for exploration." Odysseus 6K was the only ROV that took part in the search effort able to reach the depths of the Titanic wreckage. He said that they had prepared to rescue the Titan sub, but it soon became clear that the passengers could not have survived the journey. "Shortly after we arrived on the seafloor, we discovered the debris of the Titan submersible," he added.

Persons: Ed Cassano, 6K, Cassano, —, Hamish Harding, Dawood, Suleman, Paul, Henri Nargeolet, Paul Daly, Jasper Graham, Jones, it's, Graham Organizations: Service, Research Services, Titan, OceanGate, Stockton Rush, US Coast Guard, Canadian Press, AP, & Marine Engineering, Plymouth University Locations: British, Pakistani, French

☆ Giant kites could pull ships across the ocean – and slash their carbon emissions
▼ + stars: | 2023-06-30 | by ( Mark Tutton | ) edition.cnn.com time to read: +6 min

CNN —You may have seen kitesurfers in action, harnessing the power of the wind to pull them over the sea. After years of research, they are currently testing the kite on a cargo ship traveling between France and the US. The company has received €2.5 million ($2.7 million) in funding from the EU, and says it already has orders from Airbus and Japanese shipping company “K” Line. He adds that savings will become more pronounced as ships transition to green fuels, which are more expensive than fossil fuels and take up more space, because they are less energy dense. “It’s also a huge enabler for future green fuels,” argues Bernatets.

Persons: Airseas, Vincent Bernatets, “, it’s, Bernatets, Maxime Horlaville, Dr, Richard Pemberton, SkySails, ” Pemberton, Pemberton, It’s, ” Organizations: CNN, Airbus, International Maritime Organization, EU, ”, de Bordeaux, Marine Engineering, University of Plymouth Locations: French, France, Airseas

☆ Photos of the Titan sub's wreckage support the theory that the carbon-fiber hull failed first, expert says
▼ + stars: | 2023-06-30 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +8 min

Glimpses of the wrecked Titan submersible wreckage were seen as its remains were brought ashore. Though it's difficult to know for sure, the carbon fiber hull likely failed first, an expert told Insider. The titanium structural rings are intactAn annotated picture of the titanium structural rings pulled from the wreckage of the Titan submersible. OceanGate Expeditions' controversial Titan submersible is thought to have imploded within hours of its descent towards the Titanic wreckage on June 18. These were encased in a metal cage that would have been bound to the carbon fiber hull.

Persons: —, Jasper Graham, Jones, OceanGate, Graham, it's, David Lochridge, It's, Paul Daly Organizations: Service, US Coast Guard, & Marine Engineering, Plymouth University, Titan, CBC News, Canada's CBC, Expeditions, Graham, OceanGate Expeditions, Reuters, Canadian Press, AP

[1/2] The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken Titanic off the coast of Newfoundland, dives in an undated photograph. Robotic undersea search operations were diverted to the area where the sounds seemed to originate, but there was still no tangible sign of the missing vessel, the Coast Guard said on Twitter. ROBOTIC SEARCH REDIRECTEDThe search effort included Lockheed P-3 Orion turboprop airplanes designed with sub-surface surveillance gear to detect submarines, Frederick said. The Coast Guard did not detail the nature or extent of the sounds. Titanic expert Tim Matlin said it would be "almost impossible to effect a sub-to-sub rescue" on the seabed.

Persons: Jamie Frederick, Hamish Harding, Shahzada Dawood, Suleman, Paul, Henri Nargeolet, Frederick said, Canada's, Stone, Alistair Greig, Tim Matlin, Steve Gorman, Joseph Ax, Brendan O'Brien, Natalie Thomas, Aiden Nulty, Kanishka Singh, Ismail Shakil, Steve Scherer, Steve Holland, Daniel Trotta, Brad Brooks, Ariba Shahid, Raju Gopalakrishnan Organizations: OceanGate Expeditions, U.S . Coast Guard, Canadian, Coast Guard, Twitter, U.S, Expeditions, British, Reuters, U.S . Navy, Atlantic, Stockton Rush, Authorities, Lockheed, Orion, CNN, Stone, University College London, Thomson Locations: Newfoundland, Canada, France, U.S, Connecticut, Cape Cod , Massachusetts, St, John's, French

☆ Rescuers race against time to find the missing sub in the Atlantic bound for the Titanic site
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: +10 min

Rescuers in a remote area of the Atlantic Ocean raced against time early Tuesday to find a missing submersible carrying five people on a mission to document the wreckage of the Titanic. OceanGate's expeditions to the Titanic wreck site include archaeologists and marine biologists. Gallo identified Nargeolet, a friend who has led multiple expeditions to the Titanic, on Tuesday during an interview with CNN. OceanGate hired the Polar Prince to ferry dozens of people and the submersible craft to the North Atlantic wreck site. CBS journalist David Pogue, who went on the trip last year, noted his vessel got turned around looking for the Titanic.

Persons: Mauger, NBC's, John Mauger, David Concannon, John's, Concannon, OceanGate, Hamish Harding, Harding, Mark Butler, Butler, Victor Vescovo, Mariana, Richard Garriott de Cayeux, Shahzada Dawood, Suleman, Allah, Paul, Henry Nargeolet, David Gallo, Gallo, David Pogue, Pogue, Mike Reiss, Alistair Greig, submersibles, Greig Organizations: Discovery, U.S . Coast Guard, OceanGate Expeditions, Authorities, Rescue Coordination Center, Rescuers, Polar, Canadian Boeing, Twitter, U.S, Lockheed, The Associated Press, AP, Coast Guard, United Arab, Action Aviation, World Records, Shepard, The Explorers, SETI Institute, CNN, CBS, University College London Locations: Nova Scotia, British, St, John's, Newfoundland, Canadian, Bahamas, Dubai, United Arab Emirates, California, Virginia

☆ From black to green: How an oil-and-gas company pivoted to embrace wind energy — and is now raking in billions
▼ + stars: | 2023-04-13 | by ( Freya Graham | ) www.businessinsider.com time to read: +11 min

Like Sykes, it made a transition from black to green — and in doing so, it demonstrated it's possible for big energy companies to pivot to clean energy. To limit the influence of climate change, those emissions need to rapidly decrease — which means that big energy companies need to change their operations. A 2022 study found that 51% of the world's biggest publicly listed energy companies had not set out a strategy to reduce their emissions. Shell, for example, says it has about 50 gigawatts of renewable energy in operation, under construction, or in development. "If we could do the energy transition without them, I wouldn't be doing this," van Baal added.

NEW DELHI/BERLIN, Feb 24 (Reuters) - Germany will pursue a $5.2 billion deal with India to jointly build six conventional submarines in the country during Chancellor Olaf Scholz’s Feb. 25-26 visit, two Indian and two German sources said. Under the deal, a foreign submarine manufacturer will have to partner with an Indian company to build the submarines in India. The Indian foreign and defence ministries did not respond to requests for comment. An Indian diplomatic source told Reuters that India has asked Germany for an assurance for joint manufacturing for the submarines, not just supply-side support. Another official from the Indian foreign ministry said that “Scholz was determined to reinvigorate trade and defence ties with India”.

☆ Wall Street pros reveal their top defense stocks — and the same names keep coming up
▼ + stars: | 2023-02-08 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

The iShares U.S. Aerospace & Defense ETF (ITA), which tracks the performance of U.S.-listed aerospace and defense stocks, rose 8.8% in 2022 and is up more than 2% this year. He said defense stocks are "one way to protect the other parts of the portfolio that are under pressure." "I'm bullish on aerospace and defense stocks, and I think those are names that should be in a longer-term portfolio. The investment bank described Moog as a "transition story" that will benefit from an "extended defense spending lift." Other South Korean stocks with exposure to the defense sector include Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering.

☆ China shipyards feast on record LNG tanker orders as South Korea builders are full up
▼ + stars: | 2022-12-12 | by ( Chen Aizhu | ) www.reuters.com time to read: +7 min

Chinese shipyards this year won 45 LNG tanker orders worth an estimated $9.8 billion, about five times their 2021 order values, according to shipping data provider Clarksons Research. By late November, Chinese yards had grown their LNG order books to 66 from 21, giving them 21% of global orders worth around $60 billion. Still, Chinese yards received 19 foreign orders for LNG tankers this year and that number is likely to grow. "Chinese yards have become more attractive because of the South Korean backlog, as well as rising costs," said ICIS analyst Songer. Chinese yards' relationship with GTT also helps, he said.

☆ Hidden Monopoly, Offshore Money and a Clash of Interests in the Giurgiulești Port
▼ + stars: | 2020-03-02 | by ( Nemerenco Daniela | ) www.zdg.md time to read: +29 min

ZdG debunked the hidden monopoly, an offshore company, and business interests, including those of a deputy of Moldova’s Parliament, in the Giurgiulești Passengers and Goods Port, operated by the Ungheni River Port. The State Enterprise Ungheni River Port operates the Giurgiulești Passengers and Goods Port. Any attempts by other economic agents to obtain the status of port agency in the state-controlled port failed. How the state enterprise explains the monopoly in the port We went to the Ungheni company headquarters to discuss with the administration of the Ungheni River Port. A conversation between the tugboat owner and the Ungheni River Port administration The tugboat stations within the state-owned port since June 2018.

Persons: ZdG, ”, Moldova’s, Molincom, Medvedev, Daniil Șevcenco, “, didn’t, Vladimir Medvedev, Gheorghe Țurcanu, Veaceslav Ioniță, Igor Macari, Denis Dobrioglo, Leonid Karagheaur, Sergei Raevski, Țurcanu, Pîrlog, Ruslan Baciu, Iurie, Marcelian Pîrlog, Anatolie Balan, Alexandru Maximov, Condaline, Marcelian, Nicolae Dimitrachi, Translogist Sistem, Baciu, Translogist, Sergiu Gheceanu, ” ZdG, Marina Polasek, Reni, ” Medvedev, Anatolie, ” Vladimir Medvedev, Ion Chicu, Anatol Usatîi, Ludmila Guzun, Anatolie Labuneț, Igor Zaharia, Labuneț, Carolina Lipskaia, Oleg Lipskii’s, Evghenii Labuneț, Veaceslav Macaidenco, ” Labuneț, Zaharia, Mr Medvedev, Chicu, “ Mr Medvedev, slandering, Preluarea, maximă, trebuie, Instituțiile, Materialele, inclusiv Organizations: Goods, National Anticorruption Center, Port, Moldova’s Government, Logistics, State Enterprise, Naval Agency, Customs Service, Mr, Agro Factor, United Arab, UAE, Agro, United, Public Property Agency, ILM Logistic, Port Agency Service, Register, DB Translogist, Translogist, Ministry, Socialist, Security and Intelligence Service, Economy, Infrastructure, Democratic Party, Medvedev, Moldova’s Socialist Party, “, Navigation Company, Marine Engineering, Socialist Party, Anticorruption Center, Naval Agency of, National Anticorruption, Naval, Moldova’s Naval Agency, Jurnalistului din Republica Moldova Locations: Port, “, Dubai, United Arab Emirates, Russian, Zurich, Switzerland, Moldova, United Kingdom, Chișinău, Moldova’s, Consideea, Ciocana, Translogist, Condaline, Ungheni, Canada, PPMG, Naval Agency of Moldova, Jurnalistului din

☆ Couple paid $100 for abandoned car they found in a storage unit—Elon Musk bought it from them for nearly $1 million
▼ + stars: | 2019-12-01 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

Photographer: Bronte Wittpenn/Bloomberg via Getty ImagesIn 1989, a couple from Long Island, New York paid roughly $100 for an unclaimed storage unit. Actors Barbara Bach and Roger Moore, stars of the James Bond film "The Spy Who Loved Me," sit on the 1976 Lotus Esprit. But after they loaded the car onto a truck and set off for home, truckers contacted them via CB radio to let them know they were hauling a James Bond car, according to Redenius. National Motor Museum | Heritage Images | Getty ImagesMusk said he'd grown up watching the Bond movie. The 1976 Lotus Esprit, known as "Wet Nellie," that was used in the James Bond film "The Spy Who Loved Me."

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