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Visit One News Page for Marine news from around the world, aggregated from leading sources including newswires, newspapers and broadcast media. Search millions of archived news headlines. This feed provides the Marine news headlines.

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    HOUSTON, Jan. 07, 2019 (GLOBE NEWSWIRE) -- Kirby Corporation ("Kirby") (NYSE: KEX) will announce its 2018 fourth quarter and full year results at 6:00 a.m. Central Standard Time (“CST”) on Thursday, January 31, 2019.  This announcement will be followed by an earnings conference call webcast at 7:30 a.m. CST.To listen to the conference call webcast, please visit the Investor Relations section of Kirby’s website at For listeners who wish to participate in the question and answer session of the conference call webcast, you may access the call by dialing (866) 691-5839 within the U.S. and Canada or +1 (409) 216-0840 internationally. The conference ID for the call is 8999648.  A replay of the webcast will be available for a period of one year by visiting the Investor Relations section of Kirby’s website.

    The financial and other information to be discussed in the conference call will be available in the 2018 fourth quarter press release and in a Form 8-K to be posted prior to the call on Kirby’s website at

    Kirby Corporation, based in Houston, Texas, is the nation’s largest domestic tank barge operator transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts, and in Alaska and Hawaii.  Kirby transports petrochemicals, black oil, refined petroleum products and agricultural chemicals by tank barge.  In addition, Kirby participates in the transportation of dry-bulk commodities in United States coastwise trade.  Through the distribution and services segment, Kirby provides after-market service and parts for engines, transmissions, reduction gears, and related equipment used in oilfield services, marine, power generation, on-highway, and other industrial applications.  Kirby also rents equipment including generators, forklifts, pumps, and compressors for use in a variety of industrial markets, and manufactures and remanufactures oilfield service equipment, including pressure pumping units, for land-based oilfield service customers.

    CONTACT: Contact: Eric Holcomb
    713-435-1545 Reported by GlobeNewswire 9 hours ago.

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    One such surprise was thrown by a colourful sea slug - Goniobranchus trimarginatus - which was spotted in Nariman Point in December by a marine biologist. Reported by DNA 4 hours ago.

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    Company plans to profit from rising diesel demand after sulphur cap is enforced Reported by 1 hour ago.

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    As reported by Bloomberg, the European Central Bank's (ECB) chief, Mario Draghi, is set to retire this year, but growing calls throughout the European bloc that throw economic blame on the central bank are growing as populist movements gain traction, threatening the ECB's powerbase.

    *Key quotes*

    The economy is slowing again and nationalists across the bloc are challenging the principles of European integration, so the contest adds an extra layer of uncertainty as the ECB seeks to withdraw the crisis-era stimulus that’s kept interest rates at record lows.

    One risk is that the next slowdown strikes before policy makers have a chance to tighten significantly, leaving a new president with little ammunition to support the economy and a firebrand in Rome, Paris or even Berlin blaming the central bank for stacking the deck against their supporters.

    Before addressing the issue of who should replace Draghi, probably over the summer, European Union leaders have to navigate the bloc’s parliamentary elections in May.

    That could strengthen the hardliners centered in Germany who’ve long been demanding tighter policy and opposed the extraordinary package of measures Draghi used to hold the euro together during the debt crisis.

    Or it could give leverage to Italy’s Matteo Salvini and his ally Marine Le Pen, a French Nationalist. They chafe against the constraints of monetary union and have at times raised questions about whether their countries should even stay in the euro.

    Market pricing currently suggests that the slowing economy will prevent Draghi from raising rates at all before he goes, making the policy views of his successor all the more important. Reported by 58 minutes ago.

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    *(Oslo, Norway, 8 January 2019) The Board of Directors of Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) has conducted a strategic review of the Energy Trading business following the development in the energy markets. The company will continue to manage the outstanding financial derivative contracts, but will not enter into new energy trading investments and close the Energy Trading business. *

    On 16 March 2018, Vistin Pharma announced the development of a new business area within energy trading. The ambition was to develop a trading business, which would profit from investment opportunities caused by fundamental changes in the oil and energy market. The company was planning to invest its own funds, as well as establish dedicated closed-end funds for specific investment opportunities.

    To establish a sustainable business unit based on energy trading has proved to be demanding. The international energy markets have been challenging and the trading positions taken by the company has so far not performed as planned. The current market conditions have also made it difficult to raise external capital for closed-end funds.

    Vistin Pharma has had an ongoing evaluation of the development of the Energy Trading business unit, and following the resignation of Torbjørn Kjus, Head of Energy Trading at Vistin Pharma, as announced 2 January 2019, the Board of Directors of Vistin Pharma has decided to close this activity. Consequently, no new energy trading investments will be made.

    As announced on 4 January 2019, the company has financial derivative contracts outstanding to take advantage of the global change in sulphur specifications for marine fuel in the global shipping industry in 2020. Under these contracts, the company is financially exposed to the difference in USD price (spread) per metric ton between ICE low sulphur Gasoil and Sing380. The total contract volume is 150,000 metric tons, and the contracts expire on 31 December 2020. The market-to-market value of these contracts was negative USD 9.8 million (NOK 85.0 million) as of 31 December 2018.

    Vistin Pharma will continue to manage the outstanding financial derivative contracts, and some or all of these may be closed when the company believes this to be in the best interest of its shareholders. Any reduction in the total volume outstanding will subsequently be announced to the market.


    *For further information, please contact:*

    Kjell-Erik Nordby


    +47 91 36 42 80

    Gunnar Manum
    +47 95 17 91 90

    *About Vistin Pharma |*

    Vistin Pharma is a Norwegian pharmaceutical company producing Metformin Hydrochloride (API). The Metformin is also available as Direct Compressible lubricated granules. As a solely dedicated European Metformin producer, Vistin Pharma is a well-positioned supplier to leading pharmaceutical companies. Vistin Pharma is headquartered in Oslo, Norway, and has highly qualified employees and a dedicated manufacturing facility in Kragerø.This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Reported by GlobeNewswire 15 hours ago.

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    The oil tanker fire which was still burning off Lamma Island on Tuesday afternoon could take weeks to put out, a long-serving firefighter has said. It would also be a difficult and dangerous mission, the officer added. The blaze on the Vietnam-registered oil and chemical tanker Aulac Fortune broke out about one nautical mile south of Lamma Island soon after 11.30am, killing at least one person. By 3pm, three people were still missing. Three fireboats, a government helicopter and a marine police... Reported by S.China Morning Post 15 hours ago.

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    Coast Guard Outlook features leadership interviews and articles that cover ideas, mission sets, and history of the U.S. Coast Guard. This edition includes coverage of the Offshore Patrol Cutter, National Security Cutter, Fast-response Cutter, and Polar Security Cutter. 75 years of Coast Guard helicopters and 50 years of Coast Guard Research Development Technology and Engineering are also featured.

    TAMPA, Fla. (PRWEB) January 08, 2019

    Faircount Media Group has released the latest edition of Coast Guard Outlook – dedicated to the pioneering Semper Paratus (Always Ready) spirit of the U.S. Coast Guard.

    Now in its 16th year, Coast Guard Outlook is a “state-of-the-service” report delivered with high-quality imagery and editorial content, which communicates current Coast Guard programs, including multi-mission capabilities, maritime assets, the service’s role in safeguarding the nation’s economic and national security, and articles that look at the remarkable history of the service.

    This edition features our first interviews with Commandant of the U.S. Coast Guard Adm. Karl L. Schultz as well as Vice Commandant Adm. Charles W. Ray. In addition to the coverage of Coast Guard leadership ideas and mission sets, we look at 75 years of Coast Guard helicopter flight, and 50 years of the U.S. Coast Guard’s RDT&E arm. Features on the long-awaited Offshore Patrol Cutter; status on the National Security Cutter and Fast-response Cutter programs and the Icebreaker/Polar Security Cutter discussion; law enforcement successes; updates on the aircraft and surface fleets; and much more round out this must-read magazine for Coast Guard personnel; federal, state, local agency, and maritime-based industry partners.

    A print edition of Coast Guard Outlook is distributed to decision-makers throughout the service, the Department of Homeland Security, and defense and maritime industries, as well as policymakers on Capitol Hill, enabling them to make informed decisions that will profoundly affect the development of the Coast Guard.

    A digital edition of the publication is made available to the general public as an informational and educational resource. To view the digital edition, sign up for the Coast Guard Outlook print edition and newsletter, please visit

    For information on marketing opportunities or editorial contributions in Coast Guard Outlook, please contact:

    Steve Chidel, Faircount Media Group
    Phone: +1 (813) 675-3816
    Email: steve.chidel(at)faircount(dot)com

    Faircount’s ‘Outlook’ series is a set of professional publications, each edition covering a specific sector from military special operations, to the U.S. Coast Guard, to defense, to scientific research and development, to veterans affairs. Originated and published by Faircount, these publications are highly respected and regularly read by professionals within each of the specific sectors they speak to.

    About Faircount
    Faircount creates highly targeted print and digital publications for the world’s most iconic institutions and historic national events. The company’s work within government and scientific sectors is second to none with a portfolio including an extensive range of commemorative publications developed in partnership with government departments and agencies. The company has published for the U.S. Air Force, U.S. Army, U.S. Coast Guard, U.S. Marine Corps, U.S. Navy, National Oceanic and Atmospheric Administration, the Royal Navy (U.K.), Royal Australian Navy, DARPA, and many others. More information is available at Reported by PRWeb 12 hours ago.

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    Funding for Development of Low Frequency Ultra-Wideband Synthetic Aperture Sonar

    ST. JOHN’S, Newfoundland, Jan. 08, 2019 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF) (“Kraken” or the “Company”), is pleased to announce that its wholly owned subsidiary, Kraken Robotic Systems Inc., has been awarded a $568,000 contract via a competitive Call for Proposal (CFP) solicitation posted on, by Public Works and Procurement Canada under the Defence Innovation Research Program (DIRP) Call 3. The DIRP supports Canada’s long-term commitment to respond to the scientific and technological needs of the Department of National Defence and Canadian Armed Forces. The objective of Kraken’s DIRP contract is to develop a low frequency, ultra-wideband Synthetic Aperture Sonar (SAS) for use in underwater operational environments. Karl Kenny, Kraken's President & CEO said, "This contract award further supports development of the AquaPix® Multispectral SAS that we announced in May 2018. Kraken’s AquaPix® Multispectral SAS will be the world’s first commercial SAS to operate over such a wide acoustic spectrum, ranging from low audible frequencies to high ultrasonic frequencies. The three notable benefits of this new technology are 1) Significantly extended search range with ultra-high definition imagery and bathymetry; 2) Sub-bottom 3D volumetric imaging (i.e. finding objects buried beneath the seafloor); and 3) Increased speed and accuracy for seabed classification and characterization. Commercial availability is expected in 2019. Pricing for a complete system, including downward and dual side looking arrays with real time sonar signal processing and 3D mapping engine is expected to be under US$1 million.”

    Dr. Jeremy Dillon, Kraken’s Chief Scientist said, “We are pleased to be awarded this DIRP contract. This development will leverage Kraken’s world-leading expertise in sonar signal processing and GPU-accelerated real-time processing. The Kraken team includes recently hired Dr. Richard Charron, an expert in sonar performance modeling, low frequency acoustics and 3D sub-bottom imaging. In contrast with high frequency sonars that are only capable of resolving the external shape of a target, low frequency waves penetrate the target and excite structural modes in a way that provides a unique signature for different types of objects. Kraken’s Multispectral SAS will provide a richer set of classification features for target recognition and machine learning applications, thereby reducing the false alarm rate in cluttered environments.”Dr. Alan Hunter, an internationally recognized SAS expert, is also collaborating with Kraken on the development. Dr. Hunter said, “Kraken’s AquaPix® Multispectral SAS will provide an exciting new capability for high definition mapping and understanding the seafloor. By analyzing the relationships between acoustic signals scattered at different frequencies and aspects, it will be possible to infer the material properties of the seafloor and the objects resting upon it. Furthermore, the lower frequencies will penetrate the seabed to reveal buried features and objects to reveal their internal structures. The lower frequencies will also enable longer detection range when the Multispectral SAS is deployed in deeper waters and operated in a side-looking configuration.”

    *A Technology Revolution – From Conventional Sonar to SAS to Multispectral SAS*

    SAS is a powerful imaging technique that coherently combines echoes from multiple acoustic pings along the trajectory of an underwater vehicle to construct a “synthesized” sonar array. When synthetic aperture techniques are applied at sufficiently low acoustic frequencies, a modest-sized SAS can generate imagery with a constant azimuth resolution comparable to that of higher frequency sonar systems, but with significantly longer range. SAS systems are now being fielded in a wide range of military and commercial applications including underwater surveys, habitat mapping, oil and gas, environmental monitoring, marine archaeology, inspection of submerged structures, searching for downed aircraft and naval mine countermeasures.

    Multispectral satellite and airborne remote sensing, acquiring data from the electromagnetic spectrum, has enabled scientists to map terrestrial features for many years. However, the limited penetration of electromagnetic radiation through seawater renders satellite and airborne remote sensing impractical for mapping the seafloor in all but the shallowest of waters. In practice, acoustic remote sensing systems are required to map the ocean floor.

    Over the past number of years, multibeam sonar systems have come to dominate the world of marine survey. However, to meet the competing needs of range performance versus resolution, most of these systems only operate at a single frequency (or a very narrow band of frequencies) at any one time. As a result, the seabed and volume scattering products are essentially monochromatic and are typically displayed as a single colour image, representing a single data point for each bottom location. In contrast, Kraken’s AquaPix® Multispectral SAS will collect multispectral data at several frequency bands widely spaced from 5 kHz to 200 kHz. The broadband SAS provides much more data with significantly improved range and resolution.

    *Benthic Habitat Mapping*

    The development of Kraken’s AquaPix® Multispectral SAS is an exciting and innovative opportunity to improve the way that seafloor geology and benthic habitats are mapped. Combining multiple frequencies in this way offers opportunities for improved habitat discrimination and classification. The application of broadband multispectral backscatter in acoustic remote sensing offers significant advantages and the benefits of this approach to seafloor mapping are potentially ground-breaking.

    *Deep Sea Exploration & Exploitation*

    Other uses for multispectral SAS relate to the study of hydrothermal vents and hydrocarbon seeps. The importance of understanding these interactions is growing due to the the potential damage from oil and gas extraction, seabed mining and bottom trawling. As deep-sea mining of hydrothermal vents becomes a reality, many questions remain regarding the dynamics of these ecosystems. Having observations of the same seafloor at different acoustic wavelengths allows for increased discriminatory power in seabed classification and characterization efforts. The development of sonar systems with multispectral backscatter capabilities provides a significant opportunity to improve the way that scientists segment, classify and map seafloor geology.

    *Naval Mine Countermeasures*

    Naval mines are a threat that will be present in the future, and therefore, new sonar technologies are needed to detect and classify these weapons.

    Designed to improve target detection, increase area coverage rate and reduce false contacts, Kraken’s AquaPix® Multispectral SAS will operate over a wide range of wavelengths and aspects: where centimeter-scale wavelengths are used for fine-detail imaging of the seabed and small objects that lay proud on it; and longer wavelengths, which can propagate deeper into the sediment volume, are used for imaging and analysis of buried objects.

    Kraken’s AquaPix® Multispectral SAS is the first commercial ultra-wideband sonar that combines techniques for high-resolution imaging and target analysis, automated target recognition and seabed change detection and advanced autonomy via situational awareness provided to the host platform by the sensor.

    Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company that is dedicated to the production and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Toronto, Ontario; Bremen and Rostock Germany; and Boston, Massachusetts. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. For more information, please visit,, Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc) and LinkedIn.

    Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

    Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.

    For further information, please contact:

    Greg Reid, Chief Financial Officer
    (416) 818-9822

    Sean Peasgood, Investor Relations
    (647) 955-1274

    Glenda Leyte, Marketing Manager
    (709) 757-5757 extension 288 Reported by GlobeNewswire 12 hours ago.

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    Russian-born British businessman battles investors  in bitter High Court fight Dmitry Tsvetkov, 38, and his two investors, Rustem Magdeev and Emil Gaynulin, opened a Graff Diamonds franchise (pictured) in Limassol Marine, Cyprus, in May 2015. Reported by MailOnline 12 hours ago.

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    KELOWNA, British Columbia, Jan. 08, 2019 (GLOBE NEWSWIRE) -- With the high US dollar combined with 10% tariffs on American made boats entering Canada, boat builder Campion Marine is heading into this year’s boat show season with a highly competitive suite of handcrafted Canadian made quality boats.As a result of the Canadian government’s 10% tariff on US manufactured boats, a response to the United States’ imposition of tariffs on certain steel and aluminum products coming from Canada, *buying a non-Canadian boat may no longer be affordable for many.*

    On his thoughts regarding the current market opportunity, Campion’s newly appointed CEO Lorne Nakonechny says, “The market conditions are perfect for consumers to buy Canadian made boats.  With the everchanging market climate due to tariffs on US manufactured boats and a strong American dollar, I have instructed our team to put everything on the table to make sure that the Canadian boat buyer can take advantage of Campion’s competitive position.”  He goes on to say, “Campion is definitely going to make an impact at this year’s boat shows.”

    While American companies, like General Motors, are pulling out of Canada and leaving employees without work, Canadian boat manufacturer Campion Marine is growing and looking to bolster its workforce.  “We are looking to add to our skilled boat building team and welcome those that are looking for work to contact us.  What could be better than building boats in the heart of the beautiful Okanagan Valley here in Kelowna, British Columbia?” says Campion’s General Manager Chris Forrest.

    As it relates to this year’s Toronto International Boat Show, Campion’s Director - Sales and Marketing, Brian Milligen says, “Campion will be featuring a whole new look at this year’s show.  We’ll be making the statement that the New Campion is going to be taking back market share that was once ours.  We will be focused on helping our customers get the right Campion package at the best price, with the best terms.”

    In Canada, the boat show season starts at the Toronto International Boat Show hosted at *Enercare Centre, Exhibition Place*, Jan 18 to Jan 27, 2019. Most of the boat shows across the country happen January through the end of April.

    *About Campion Marine*

    For over 45 years Campion Marine has been building a diverse quality line up of boats, consisting of its Chase high performance boats, Explorer sport utility boats, Allante runabouts/cruisers and Svfara wake and surf tow boats.  Campion and its team handcraft their boats in Kelowna, BC, Canada and ship them around the world.  Campion is growing its global dealer network and its workforce. For further information, contact Brian Milligen phone 250-765-7795 or email Reported by GlobeNewswire 10 hours ago.

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    Maritime Insurance Hires Director of Sales in NE and SE regions

    CHARLESTON, S.C. (PRWEB) January 08, 2019

    Maritime Insurance International, an independent marine insurance agency, has hired two Marine Insurance industry guru’s to expand their East Coast footprint. The independent marine agency brought on Adam Meyer as Director of Sales – Southeast and Rod Clingman as Director of Sales - Northeast, respectively, as of November 1st, 2018.

    For the last 19 years Rod has worked strictly in the marine insurance industry. Starting his insurance career as an underwriter for a P&C company, then moving into sales and product / policy development. He has worked with some of the country’s leading marine agencies and marine insurers. Prior to joining Maritime Insurance, Rod was a program manager for Berkley Recreational Marine (W.R. Berkley Co.)

    Adam Meyer graduated Wake Forest University School of Law in 1996, then started his marine insurance career in Cincinnati as a Marine Loss Control Specialist with St. Paul Fire & Marine. He then went on to Chicago to specialize in Mega Yacht and Commercial Marine underwriting as an Ocean Marine Underwriter for St. Paul / Travelers. After 5 years in marine loss control and underwriting, Adam moved back home to North Carolina, where his passion led him to the agency and sales side of marine insurance. Since 2000, Adam has built an impeccable reputation as a specialist marine producer, and led two successful marine divisions.

    Both Directors will focus on boat, yacht and commercial boat insurance in their respective regions, further expanding the East Coast and National presence of Maritime Insurance. “The experience and knowledge these two individuals add to our team, on both our products and industry, made this a natural fit for us all. We are excited to have them join our niche agency.” said Maritime Insurance Vice President Garrison Rudisill

    About Maritime Insurance International

    Maritime Insurance specializes in Boat, Yacht, Marina, Boatyard, Boat Dealers, & Boat Builder insurance solutions. MII has amassed over 100 years of collective experience in the marine industry and has a group of professionals that are unmatched in this niche insurance industry. They pride themselves on providing clients responsive and personal service coupled with competitive markets throughout the relationship. The agency is licensed in 46 states with offices in four port cities.

    Offices are located in Charleston, SC; Annapolis, MD; Mystic, CT; and Wrightsville Beach, NC. For more information call 843-606-5270 or visit Reported by PRWeb 10 hours ago.

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    A nearly meter-long skull of a giant fossil marine ichthyosaur found in a farmer's field more than 60 years ago has been studied for the first time. Using cutting-edge computerized tomography (CT) scanning technology, the research reveals new information including details of the rarely preserved braincase. The almost 200-million-year-old fossil, which was found in 1955 at Fell Mill Farm in Warwickshire, had never formally been studied prior to this research. Reported by Science Daily 7 hours ago.

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    Anthony Zinni, a retired Marine Corps General and former head of CENTCOM, had been working to resolve Qatar dispute Reported by CBS News 9 hours ago.

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    KEMP, Texas, Jan. 08, 2019 (GLOBE NEWSWIRE) -- Larson Electronics, a Texas-based company with over 40 years of experience spearheading the industrial lighting and industrial equipment sectors, announced the release of an explosion proof signal light with an audible horn alarm for use in hazardous industrial locations. This unit is a signal stack light designed for synchronizing with Kidde Aries Netlink fire alarm systems. This signal comes with a pre-drilled heavy gauge aluminum base for mounting on walls and other flat surfaces.The EPL-TL-1XSVS-C-PA-SYNC-24V-MOD1 explosion proof signal light has nine high-intensity LEDs and offers eight watts of LED light in either red, blue, amber or white light output with an audible horn alarm. This 10-watt unit is rated for Class I, Divisions 1 and 2, Groups C and D; Class II, Division 1, Groups E and F; and Class III, Groups E, F and G hazardous environments. This weather and dust proof unit is IP67 rated for wet environments, T3 temperature rated and NEMA 4X rated. 

    Larson Electronics’ signal light operates on 24V DC configurations for low voltage operation and features indicator lights that have a 50,000 lifespan. This signal light has 30 different flash patterns and can be configured for different light colors and tones. The alarm on this signal operates with up to five different tones that can reach a peak output of 110dBA. Suitable applications include use at manufacturing plants and other hazardous industrial work sites.

    *About Larson Electronics LLC: *Larson Electronics LLC is a manufacturer of industrial lighting equipment and accessories. The company offers an extensive catalog of industry-grade lighting and power distribution products for the following sectors: manufacturing, construction, food processing, oil and gas, military, marine and automobile. Customers can benefit from the company’s hands-on, customized approach to lighting solutions. Larson Electronics provides expedited service for quotes, customer support and shipments.

    *For further information, please contact:*

    Rob Bresnahan, President and CEO
    Toll-free: 1-888-351-2363
    Int’l: 214-616-6180
    Fax: 903-498-3364

    Four photos accompanying this announcement are available at Reported by GlobeNewswire 8 hours ago.

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    A tiny diabetes drug maker in Norway decided to get into energy trading — and failed spectacularly· *Norwegian pharmaceuticals company, Vistin Pharma, decided to take a gamble on energy markets in March last year despite being best known for making a diabetes drug. *
    · *The company announced Tuesday that it was closing its energy trading operation following the departure of resignation of head of energy trading, Torbjørn Kjus, on Friday. *
    · *Vistin's contracts are worth negative 85 million Norwegian kronor ($9.8 million) as of December 31, 2018. They expire at the end of 2020. *

    Energy trading is a notoriously tricky gamble. Prices of a variety of products are subject to intense volatility that can catch even the most savvy investors off guard. For the not so savvy, it can be even worse. Take Norweigan pharmaceuticals company Vistin. 

    Vistin Pharma, best known for its type-2 diabetes medication Metformin, announced in March that it would try its hand at the energy market. In a veering turn from its business model, it explained that it made the move "to take advantage of the global change in sulphur specifications for marine fuel in the global shipping industry in 2020." 

    However, things didn't go to plan. 

    The company announced last week that its head of energy trading, Torbjørn Kjus, would be leaving immediately. Losses totalled $12 million and at the end of 2018 margin calls — deposits required to cover trading losses — had reached 163.5 million kroner (about $19 million), tying up more than half the entire company’s cash, according to Bloomberg.

    *Read more*: A hedge fund run by one of the world's most famous oil traders is the latest major victim of surging market volatility

    Not content with making money off diabetes patients, Vistin decided to also bet on the price difference between low-sulfur gasoil futures on the Intercontinental Exchange in London and contracts for higher-sulfur fuel oil traded in Singapore.

    Under these contracts, the company was financially exposed to the difference in dollars per metric ton between two types of shipping fuel. Its bets went the wrong way, and Vistin finally threw in the towel. 

    "To establish a sustainable business unit based on energy trading has proved to be demanding," it said on Tuesday. "The international energy markets have been challenging and the trading positions taken by the company has so far not performed as planned. The current market conditions have also made it difficult to raise external capital for closed-end funds."

    Volatility has jolted energy markets in 2018, eroding profit at major oil traders including Trafigura. 

    Vistin CEO Kjell-Erik Nordby declined to comment and Chief Financial Officer Gunnar Munum didn’t immediately return calls seeking comment.

    *SEE ALSO: The crash in oil prices is raising a major red flag about slowing global growth*

    Join the conversation about this story »

    NOW WATCH: Bernie Madoff was arrested 10 years ago today — here's what his life is like in prison Reported by Business Insider 7 hours ago.

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    Regent L.P., a Los Angeles–based private equity firm led by investor Michael Reinstein has launched ARCHETYPE ( a global media accelerator geared to revamp storied print titles into multi-platform subscription, advertising, and licensing media companies.

    BEVERLY HILLS, Calif. (PRWEB) January 08, 2019

    Archetype’s mission is to acquire and transform legacy publication businesses. The potential of each acquired business stems from enhancing and expanding the channels of how each brand monetizes its assets while keeping attune to customers evolving media consumption habits. Through fostering executive and editorial teams, overhauling technology stacks, and capitalizing on cross corporate synergies, Archetype’s accelerator model has proven to positively impact each acquired company within a short timeframe.

    The Archetype portfolio currently includes the iconic Sunset Magazine, Sightline Media Group’s Military Times, Defense News, Federal Times and other government focused titles, as well as HistoryNet’s robust portfolio of history publications. These brands reach an audience of 20+ million across 17 print publications, more than 30 digital & social platforms, an expanding library of television & OTT video programming, and a strong event series.

    “The official launch of Archetype marks the culmination of three years proving our unique media accelerator concept,” said David Steinhafel, Archetype CEO and Regent Principal. “Post-acquisition, each company is approached with a mindset similar to launching a startup. We apply intellectual and capital investment, platform efficiencies, full product and brand exploration, along with a strategic business path focused on maximizing profitability.”    

    “When assessing acquisition opportunities, we gravitate toward distinguished titles with strong brand equity established over decades. As an example, Sunset launched in 1898 solely as a magazine. Today Sunset has extensions across print, digital, social, connected TV, branded airport retail locations, book series, and even a plant line. Each of our publications have loyalists of all generations who are consuming media in many ways. We work with each brand’s unique heritage to maximize their revenue opportunities and look forward to applying our successful formula in future acquisitions,” adds Steinhafel.

    Archetype allows advertising agencies to combine their client's messaging with award winning content consumed by an aggregated unique audience. “Properties within Archetype deliver marketers rich, integrated cross-platform experiential executions. Our goal is to bring a highly engaged audience to brands of all types, leading to strong campaign conversion and unaided recall,” says Doug Neiman, Archetype Chief Revenue and Marketing Officer and Regent Operating Partner.

    Archetype has locations in Beverly Hills, San Francisco, San Diego, Honolulu, Chicago, New York. Atlanta and Washington D.C.

    About Sunset
    Founded in 1898, SUNSET is the defining lifestyle brand of the modern American West. Through its magazines and books, events and experiences, and digital and social media, the iconic 120-year-old brand reaches a monthly audience of more than 6.5 million educated and affluent consumers, covering the region’s top travel destinations, food and wine experiences, home and garden trends, and personalities. Some of its flagship events include Celebration Weekend, the SUNSET Smart Cottage, the SUNSET Idea House program, Camp SUNSET and the SUNSET International Wine Competition, one of the most successful wine competitions launched in US history. For more information, visit

    About Sightline Media Group
    Sightline Media Group is the leading news organization covering military, defense, public sector, federal technology, C4ISR and cyber defense. Brands include Military Times, Army Times, Airforce Times, Navy Times and Marine Corps Times, along with Defense News, Federal Times, C4ISRNET and Fifth Domain. Its independent, award-winning journalism offers coverage from around the globe. Sightline is headquartered in Washington, D.C. area with bureaus and correspondents in dozens of cities across the world. The portfolio of multi-platform products — web, mobile, TV, print and custom publishing — provides its audiences and clients with the information and insights they need to thrive and grow. For more information, visit

    About History Net
    HistoryNet is the world’s largest publisher of American and military history-related content. The Company’s magazine titles include America’s Civil War, American History, Aviation History, Civil War Times, Military History, MHQ: The Quarterly Journal of Military History, Wild West, World War II and Vietnam. HistoryNet’s magazines have a total paid circulation of approximately 350,000 and a combined readership of 1.4 million loyal readers. The Company’s website,, attracts approximately 2 million unique visitors each month, making it one of the Web’s largest and most popular history websites. For more information, visit

    About Regent
    Regent is a global private equity firm focused on innovating and transforming businesses. The firm’s mission is to create long-term value for its partners, the companies it invests in and the communities in which it works. Regent’s investments span the globe and operate in a wide array of industry verticals including technology, media, consumer products, industrial, retail and entertainment.
    Additional investments include Sassoon, La Senza, Lillian Vernon, Regis Salons and MasterCuts. Regent is based in Beverly Hills, California.

    For more information, please visit


    Christine Aquino
    Vice President, Business Operations and Press Relations
    Email: caquino(at)
    Phone: (650) 569-0596

    Mort Greenberg
    Senior Vice President of Advertising Sales
    Email: mgreenberg(at)
    Phone: (650) 569-0596 Reported by PRWeb 6 hours ago.

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    WASHINGTON (AP) — A State Department spokesman says a retired Marine general has quit his post as an envoy seeking to resolve a dispute with Qatar.Spokesman Robert Palladino said Tuesday that the Trump administration will continue... Reported by New Zealand Herald 6 hours ago.

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    Thinktank Science Museum and University of Manchester researchers used a medical scanner to digitally reconstruct the giant marine reptile's entire skull in 3D.

      Reported by 5 hours ago.

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    Microscopic marine plants flourish beneath the ice that covers the Greenland Sea, according to a new study. These phytoplankton create the energy that fuels ocean ecosystems, and the study found that half of this energy is produced under the sea ice in late winter and early spring, and the other half at the edge of the ice in spring. Reported by Science Daily 3 hours ago.

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    Anthony Zinni, a retired Marine Corps general and former head of U.S. Central Command who has been working as an envoy for the Trump administration to resolve a dispute with Qatar, has resigned from his position with the State Department. "Face The Nation" moderator Margaret Brennan reports. Reported by CBS News 5 hours ago.

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