Maersk Boosted by Trade Recovery, But Misses Forecasts
A surge in demand for goods like furniture and exercise equipment from locked-down consumers has sparked a jump in shipping rates, boosting profits for Danish freight giant Maersk, the company said on Wednesday.Yet shares in the worldâs largest container shipping line fell as much as 8% as it missed analystsâ lofty forecasts for the end of last year and gave more cautious guidance for 2021 than anticipated.Maerskâs ocean shipping businessâŠ
Cummins QSK95s: Big Electric Power for Conversion of Ariake to FPSO
Floating Production Storage and Offloading (FPSO) vessels are essential tools in the search for oil in deeper waters, further from shore-based facilities. Typically, the large FPSO is stationary with a number of wells feeding oil into its holds. The oil can then be pumped off to shuttle tankers that transport it to shore side tanks and refineries.FPSOs are big expensive pieces of equipment. Some of them are converted from ocean going oil tankers.
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