Business Wire
BusinessJensen Huang’s “Buy at a Discount” remark returns to focus as Nvidia shares rise and an AI basket gainsThe Apex TimesBusinessAMD says it is expanding its AI infrastructure footprint in Saudi ArabiaThe Apex TimesBusinessVerizon readies network resources as Tropical Storm Edouard nearsThe Apex TimesBusinessNvidia shares show a rare trading pattern, underscoring how investors are rethinking semiconductor correlationsThe Apex TimesBusinessEli Lilly to buy Merida Biosciences in up-to $2.875 billion cash deal, betting on an expanded autoimmune pipelineThe Apex TimesBusinessNvidia backs MediaTek with $3.5 billion convertible-bond deal, indicating a push for local AIThe Apex TimesBusinessBoeing to resume contract talks with engineers, as strike threat remains on the tableThe Apex TimesBusinessFTC and 22 states sue Amazon, alleging it manipulated online ad auctionsThe Apex TimesBusinessAlphabet’s Google says Gemini-powered “Teamwork” agents solved open math, built a CPU simulator, and improved core open-source librariesThe Apex TimesBusinessKKR’s “mini Berkshire” push shows early results as it sells USI assets for about $17 billionThe Apex TimesBusinessDeere shares rise after Baird upgrade to OutperformThe Apex TimesBusinessReport: Exxon Mobil joins bidders for Shell’s U.S. chemicals assets, a potential shift for XOM’s refining-and-chemicals outlookThe Apex TimesBusinessJensen Huang’s “Buy at a Discount” remark returns to focus as Nvidia shares rise and an AI basket gainsThe Apex TimesBusinessAMD says it is expanding its AI infrastructure footprint in Saudi ArabiaThe Apex TimesBusinessVerizon readies network resources as Tropical Storm Edouard nearsThe Apex TimesBusinessNvidia shares show a rare trading pattern, underscoring how investors are rethinking semiconductor correlationsThe Apex TimesBusinessEli Lilly to buy Merida Biosciences in up-to $2.875 billion cash deal, betting on an expanded autoimmune pipelineThe Apex TimesBusinessNvidia backs MediaTek with $3.5 billion convertible-bond deal, indicating a push for local AIThe Apex TimesBusinessBoeing to resume contract talks with engineers, as strike threat remains on the tableThe Apex TimesBusinessFTC and 22 states sue Amazon, alleging it manipulated online ad auctionsThe Apex TimesBusinessAlphabet’s Google says Gemini-powered “Teamwork” agents solved open math, built a CPU simulator, and improved core open-source librariesThe Apex TimesBusinessKKR’s “mini Berkshire” push shows early results as it sells USI assets for about $17 billionThe Apex TimesBusinessDeere shares rise after Baird upgrade to OutperformThe Apex TimesBusinessReport: Exxon Mobil joins bidders for Shell’s U.S. chemicals assets, a potential shift for XOM’s refining-and-chemicals outlookThe Apex TimesBusinessJensen Huang’s “Buy at a Discount” remark returns to focus as Nvidia shares rise and an AI basket gainsThe Apex TimesBusinessAMD says it is expanding its AI infrastructure footprint in Saudi ArabiaThe Apex TimesBusinessVerizon readies network resources as Tropical Storm Edouard nearsThe Apex TimesBusinessNvidia shares show a rare trading pattern, underscoring how investors are rethinking semiconductor correlationsThe Apex TimesBusinessEli Lilly to buy Merida Biosciences in up-to $2.875 billion cash deal, betting on an expanded autoimmune pipelineThe Apex TimesBusinessNvidia backs MediaTek with $3.5 billion convertible-bond deal, indicating a push for local AIThe Apex TimesBusinessBoeing to resume contract talks with engineers, as strike threat remains on the tableThe Apex TimesBusinessFTC and 22 states sue Amazon, alleging it manipulated online ad auctionsThe Apex TimesBusinessAlphabet’s Google says Gemini-powered “Teamwork” agents solved open math, built a CPU simulator, and improved core open-source librariesThe Apex TimesBusinessKKR’s “mini Berkshire” push shows early results as it sells USI assets for about $17 billionThe Apex TimesBusinessDeere shares rise after Baird upgrade to OutperformThe Apex TimesBusinessReport: Exxon Mobil joins bidders for Shell’s U.S. chemicals assets, a potential shift for XOM’s refining-and-chemicals outlookThe Apex TimesBusinessJensen Huang’s “Buy at a Discount” remark returns to focus as Nvidia shares rise and an AI basket gainsThe Apex TimesBusinessAMD says it is expanding its AI infrastructure footprint in Saudi ArabiaThe Apex TimesBusinessVerizon readies network resources as Tropical Storm Edouard nearsThe Apex TimesBusinessNvidia shares show a rare trading pattern, underscoring how investors are rethinking semiconductor correlationsThe Apex TimesBusinessEli Lilly to buy Merida Biosciences in up-to $2.875 billion cash deal, betting on an expanded autoimmune pipelineThe Apex TimesBusinessNvidia backs MediaTek with $3.5 billion convertible-bond deal, indicating a push for local AIThe Apex TimesBusinessBoeing to resume contract talks with engineers, as strike threat remains on the tableThe Apex TimesBusinessFTC and 22 states sue Amazon, alleging it manipulated online ad auctionsThe Apex TimesBusinessAlphabet’s Google says Gemini-powered “Teamwork” agents solved open math, built a CPU simulator, and improved core open-source librariesThe Apex TimesBusinessKKR’s “mini Berkshire” push shows early results as it sells USI assets for about $17 billionThe Apex TimesBusinessDeere shares rise after Baird upgrade to OutperformThe Apex TimesBusinessReport: Exxon Mobil joins bidders for Shell’s U.S. chemicals assets, a potential shift for XOM’s refining-and-chemicals outlookThe Apex Times
Back to front
GE Aerospace starts another tranche of LM2500 deliveries for Turkey’s MILGEM I-Class frigates
The Apex Times

THE APEX TIMES

Business/The Apex Times/Jun 7, 4:44 AM EDT

GE Aerospace starts another tranche of LM2500 deliveries for Turkey’s MILGEM I-Class frigates

GE Aerospace says an order for frigates 9 to 12 in Turkey’s İstif-class MILGEM program is underway, adding more LM2500 marine gas turbine power to each ship.

GE Aerospace said an order for frigates 9 to 12 has been initiated for Turkey’s İstif-class (I-class) frigates under the MILGEM project, building on an earlier deal to supply propulsion for frigates 6 to 8. The company said its LM2500 marine gas turbines will provide 23 megawatts of power to each frigate.

The İstif-class frigates, described by GE as an enlarged version of the Ada-class corvettes, are designed with a larger hull to improve endurance, range capability, and accommodate longer-range weapons. GE said the MILGEM program is a multi-country effort that has also been exported beyond Turkey.

GE said it has been providing propulsion solutions to the Turkish Naval Forces since 1997 and that a total of 31 LM2500 gas turbines are currently onboard 18 ships for Türkiye. It also pointed to other naval programs that use the LM2500 family, including Turkey’s Barbaros and Gabya class frigates and the DIMDEG fleet oil replenishment vessel.

On the product side, GE characterizes the LM2500 family as a compact marine gas turbine offering “reliable power” for military applications, designed to support speed, endurance, and payload. The company also said the engines can burn a wide variety of fuels and are intended to meet existing and proposed environmental regulations.

GE added that the LM2500 family has operated with what it calls strong in-service performance, citing a 99% reliability and 98% availability record across more than 16 million naval operation hours. The company also said LM2500-family engines are aboard 513 naval vessels for 39 international navies, with support provided globally through eight service depots.

GE also used the announcement to emphasize its longer-running footprint in Türkiye, saying it has offices and facilities in Istanbul, Ankara, and Gebze and that more than 440 employees support an installed base of over 2,300 engines for commercial and defense customers in the country. The company said its technology center in Türkiye contributes to global engineering work, including software development and additive manufacturing.

The announcement did not disclose contract value, the timing of delivery for frigates 9 to 12, or whether the additional engines include any specific variants or configuration changes beyond power output. It also did not specify the scope of aftermarket support or long-term maintenance terms associated with the new order.

Why It Matters

  • The new tranche suggests continued demand for proven aeroderivative marine gas turbines in Turkey’s domestically built naval procurement pipeline.
  • Because LM2500 is widely fielded, the order reinforces a platform strategy that can help streamline training, parts, and sustainment across a fleet.
  • GE framed the engine family as future-relevant for Turkey’s TF-2000 air defense destroyer roadmap, linking near-term shipbuilding to longer-term requirements.
  • The announcement highlights how defense ship programs can translate into follow-on aftermarket and service work for engine OEMs, even when new warship contracts do not disclose financial terms.

Sources

Key Facts

  • GE Aerospace said an order for İstif-class (I-class) frigates 9 to 12 under Turkey’s MILGEM program has been initiated.
  • The company said the LM2500 marine gas turbines will supply 23 MW of power to each frigate.
  • GE noted that the earlier agreement that covered frigates 6 to 8 was signed one year prior with TAIS OG-STM İş Ortaklığı in Istanbul.
  • GE described the İstif-class as an enlarged version of the Ada-class corvettes, with a larger hull aimed at greater endurance, range, and room for longer-range weapons.
  • GE said 31 LM2500 gas turbines are onboard 18 ships for Türkiye, and that it has provided propulsion to the Turkish Naval Forces since 1997.
  • GE said the LM2500 family is used by 39 navies worldwide across 513 naval vessels, and that it has reported 99% reliability and 98% availability across more than 16 million naval operating hours.

Energy & Industrials Related

Aug 31, 7:07 PM EDT
The Apex Times

Deere shares rise after Baird upgrade to Outperform

Deere (NYSE:DE) climbed about 3% in the afternoon session after Baird analyst Mircea Dobre lifted the stock rating from Neutral to Outperform, according to a Yahoo Finance report.

Deere shares rise after Baird upgrade to Outperform
The Apex Times
Aug 31, 1:21 PM EDT
The Apex Times

Chevron rises 2.3% as crude strength offsets refining pressure

Shares moved higher as higher oil prices supported upstream earnings expectations, while concerns over Washington scrutiny around gasoline pricing raised uncertainty about how much refining margin flows to investors.

Chevron rises 2.3% as crude strength offsets refining pressure
The Apex Times
GE Aerospace starts another tranche of LM2500 deliveries for Turkey’s MILGEM I-Class frigates | The Apex Times