Pacific Towing (PacTow) is celebrating the return of its tug ‘Waiowa’ to the water.  One of PacTow’s 11 tugs, Waiowa is back at work following an engine replacement.  Predominantly used for open ocean towage and salvage projects, Waiowa has already been utilised on three projects since rejoining the PacTow fleet. Waiowa is a 35-metre-long Azimuth Stern...

Photo: Vision City Branch, Kina Bank, Papua New Guinea Kina Securities Ltd (KSL) reported a net profit of K96.2 million for the 2021 financial year, up 27% from the previous year's statutory net profit of K70.8 million. One-time expenditures linked with the termination of the Westpac purchase, according to the bank, harmed the statutory results. ...

Steamships Trading Company Ltd, based in Port Moresby, has declared an improved financial performance for 2021. “On the back of a strong performance in the hospitality division and a continued recovery in the shipping division, revenue increased 11 per cent to K564 million on a continuing basis and the underlying profit attributable to shareholders ros...

Photo: The Trio® TC84XR cone crusher Pebbles contain valuable ore but without a crusher capable of processing them, pebbles can end up discarded or stockpiled. Weir Minerals has developed the Trio® TC84XR cone crusher – specifically engineered to perform in the most challenging applications, including pebble crushing. Pebble crushing is one of the t...

Photo credit: gparchitect BSP Financial Group Limited (BSP) recently announced a net profit after tax of K1.075b for the financial year ended 31st December 2021. The result was driven by the release of COVID-19 provisions, good foreign exchange revenue, and strong transaction volumes across all markets. BSP CEO, Robin Fleming, noted that overall bus...

Photo: Pacific Towing’s recent ISO certifications – ISO:9001 (Quality), ISO:45001 (OH&S), and ISO:14001 (Environment) – reflect its marine services market leadership in not just PNG but broader Melanesia.  Pictured is a PacTow tug and linesboat assisting the berthing of US naval vessel ‘USS Charleston’ for refuelling purposes. Marine Services compa...

Santos recently announced its full-year results for 2021, reporting record free cash flow of US$1.5 billion and underlying profit of US$946 million. The results reflect significantly higher oil and LNG prices compared to the corresponding period due to the recovery in global energy demand combined with supply constraints across the industry due to lower c...

The resource sector’s preferred prefabricated modular building supplier, Ark Pacific, commenced 2022 with numerous buildings for multiple clients in its design, engineer, supply and construction pipeline.  The New Year also saw Ark’s production capacity increase by 100 percent, with its main factory now capable of producing 1,000 building modules per mont...

Photo: Built in Singapore, Pacific Towing’s newest ASD tug ‘Koranga’ (60 tonne bollard pull; 4,436 braking horsepower) will be dedicated to harbour towage in Lae.  The company also provides numerous services to PNG’s oil and gas sector. Pacific Towing (PacTow) has expanded its fleet with the purchase of a dedicated harbour tug ‘Koranga’ from Singapore....

Photo: Top left - Ani Topurua, top right - Carolyne Manahave, bottom left - Chantel Christensen and bottom right - Lyndah Brown Ok Tedi Mining Limited (OTML) has announced the appointment of four females to various management roles within the Company as part of its Vision 2025 to increase the number of females in leadership roles. These includes Ani...

Photo: Range of Isodry® thickeners (from conventional to paste) gives you the ability to create products with 30-70% solids percentage by weight. Weir Minerals’ range of industry-leading equipment seamlessly works together to provide comprehensive tailings solutions for the mining and aggregate industries. For decades, Weir Minerals have been provid...

It was another quarter of significant developments and milestone achievements across Mayur’s portfolio.  A major highlight was the granting of the Mining Lease for the Orokolo Bay iron and industrial sands project. As with the ML for the CCL project this was achieved in record time despite the impacts of COVID. This was followed by the signing of a mag...

Photo credit: REUTERS / David Gray Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos delivered record annual production and sales revenue in 2021, as strong base business performance positioned the company to benefit from higher commodity prices. Free cash flow of around US$1.5 billion for the year was also a record an...

Photo: Inside the discharge end of a ball mill being fitted with spiral lifters and rubber grates. Vulco® R67 mill liners last significantly longer and deliver a measurable reduction in mill downtime, installation and maintenance costs. Vulco® rubber is renowned throughout the mining industry for its exceptional wear life and reliability in mill lining...

Photo credit: Savi Moni Access to affordable credit is highly valued but not readily available in Papua New Guinea.  In an extremely competitive employment marketplace, businesses are increasingly assisting employees to access credit as a means to both attract and retain their top talent.  Even in the current economic downturn, there is still a ‘war...

Photo credit: Geopacific Resources The Board of Geopacific Resources Limited is pleased to announce the appointment of Mr. Andrew Bantock as Chairman and director of Geopacific, and the retirement of Mr. Ian Clyne as Chairman and director of the Company. Mr. Bantock has significant experience leading listed and private businesses, both in Australia ...