The Panama Canal commemorated the one-year anniversary of the inauguration of its Expanded Canal, one of the most significant milestones in the history of the 102-year-old waterway and a defining moment for the people of Panama and the global maritime industry.
We recently linked to a story about seven people being charged with stealing trade secrets in syntactic foam.
Our source speculated that CBM International Inc. (CBMI) in Texas was the company involved in the controversy, which was confirmed by a Law360 story.
According to Law360, a Chinese national recruited Shan Shi, who is among those charged, to form CBMI.
An affidavit says that CBMI hired several employees from Trelleborg in 2015 and had them share trade secrets. Backed by $2.2 million from its parent company, known as CBMF, CBMI stole models, ingredient lists and spreadsheets full of data and formulas that allowed it to build its own factory in China and produce and market a syntactic foam component much cheaper than Trelleborg could–which CBMI then offered to sell to Trelleborg.
Seven people were charged on Wednesday with conspiring to steal trade secrets from a Houston-based business for a company in China that makes syntactic foam for military and civilian uses, Reuters reported. Those arrested and charged include four U.S. citizens.
An ocean industry expert speaking to Sea Technology believes the company to be CBM International.
Ranking behind Singapore are Hamburg, Oslo and Shanghai, in respective order.
Experts say Singapore would remain the “most important city” come 2022, although Shanghai will likely become the second most important maritime hub.
Going to be near Woods Hole, Massachusetts, July 20 to 21? If yes, then check out the Woods Hole Oceanographic Institution’s (WHOI) Center for Marine Robotics (CMR) for the third annual Entrepreneur’s Forum and Leadership Showcase.
The event will focus on strategic development of the marine robotics market space with presentations and panel discussions targeting concerns of the C-Suite. Key questions include: What are the dynamics of emerging markets? How is the funding climate changing? What can be learned from recent acquisitions? Should you consider being acquired or go public?
Learn more here.
The DNV GL-led joint industry project WIN WIN (WINd powered Water INjection) has completed its first phase and determined that wind power could be used to power offshore water injection.
The project is moving into the second phase, which includes refining and testing the electrical systems and investigating possibilities for broader applications.
The project has four partners: DNV GL, Exxon Mobil, ENI Norge and the Norwegian Research Council.
It proves that large-scale renewable units can be integrated into oil and gas systems, which lowers carbon emissions, as well as equipment and operations costs for oil companies.
Caption: A standard wind turbine is mounted to a floating foundation. This foundation also serves as a platform for the water injection system. (Credit: DNV GL)
The National Ocean Industries Association (NOIA) presented Arena Offshore with the 2017 NOIA Safety in Seas (SIS) Culture of Safety Award during the association’s annual meeting in Washington, D.C.
NOIA awarded the 2017 SIS Safety Practice Award to Frank’s International.
Compass Publications Inc., the publisher of Sea Technology magazine, established the the SIS awards in 1978.