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Drew Marine Acquires Chemring Marine

Affiliates of Drew Marine (“Drew Marine”) have reached a definitive agreement with Chemring Group PLC (“Chemring”) to acquire Chemring’s maritime interests (“Chemring Marine” or the “Company”) for a cash consideration of £32 million, subject to standard closing adjustments.  Under Drew Marine’s ownership, the business will be named Drew Marine Signal and Safety (“DMSS”).    Chemring Marine is the world’s leading supplier of marine distress signals including handflares, manoverboard buoys, line-throwers and other required rescue products under established brands including Pains Wessex, Comet, Aurora and Oroquieta.  The Company’s products are produced in Bremerhaven, Germany; Pamplona, Spain; and Lara, Australia.  The business will continue to be headquartered in Hampshire, UK.   Len Gelosa, President and CEO of Drew Marine, said: “The acquisition of Chemring Marine is a perfect fit with our strategy to provide essential products for safety, reliability and compliance to the global maritime industry.  Like Drew Marine, Chemring Marine is known for supplying the highest quality and best performing products to the markets that we serve.  The addition of these high quality brands is in keeping with Drew Marine’s philosophy of bringing the best of the market to our customers


Yank Marine Upgrades Marine Travelift Hoist at Tuckahoe Yard

Yank Marines New Travelift: Photo credit Yank Marine

A new 300 mt marine lift for Yank Marine is being installed at its Tuckahoe, NJ shipyard. This new 300 metric ton marine lift was transported from Marine Travelift in Sturgeon Bay, Wisconsin on ten trucks and is currently being erected on site. It was purchased using a $961,676.00  grant from the Maritime Administration under the Assistance to Small Shipyards Grant Program, and will replace Yank Marine Inc.’s  existing 200 metric ton Marine Travelift.


Harley Marine was Pivotal Private Equity Speaker at Marine Money

Harley Franco, Founder and Chairman of Pacific Coast operator Harley Marine Services, Inc., was a pivotal private equity speaker at a recent Marine Money conference held in New York City. Mr. Franco represented the private equity position on a finance panel consisting of public maritime companies including Overseas Shipholding Group and Horizon Line. In his presentation, Mr. Franco outlined the various finance structures utilized which enabled him to remain private


Marine Software Ltd Delivers Marine Planned Maintenance

U.K.-based software house Marine Software Ltd has successfully delivered its DNV type approved Marine Planned Maintenance system on QinetiQ’s Trimaran demonstrator vessel R.V. Triton . This innovative test vessel comes after ten years of research and is the largest motor powered trimaran demonstrator ever built, also being the worlds first of class ship based on this new concept triple-hull design. QinetiQ, formerly known as the Defense Evaluation and Research Agency ( DERA )


Sumitomo And Mitsui Finalize Merger Conditions

Sumitomo Marine & Fire Insurance Co. and Mitsui Marine & Fire Insurance Co. on Tuesday announced terms under which they will merge next October, creating Japan's largest non-life insurer with assets of 5.7 trillion yen ($51.6 billion). In a joint statement, the companies said 1.09 Mitsui Marine shares will be allocated for one Sumitomo Marine share. The merged entity will be named Mitsui Sumitomo Insurance Co. with Mitsui Marine president Takeo Iguchi and Sumitomo Marine president


Insights: Steve Dickey, Global Marine Market Director, Sherwin-Williams Marine Coatings

Stephen F. Dickey, Market Director – Global Marine for Sherwin-Williams Protective & Marine Coatings

If lifecycle asset management is at the very forefront of an economically driven shipping company, then marine coating have to be a part of that discussion. That, in part, is because the global regulatory scheme is now impacting everything from marine propulsion, vessel discharge protocol, ballast water management and everything in between. The fact that marine coatings can be at the very heart of any and all of these discussions shouldn’t surprise anyone. Stephen F


Travelift at Work in BC

Marine Travelift, Inc. announced Canada's largest Marine Travelift mobile boat hoist is currently in service in a brand new, 15-acre workyard and boat storage facility in Richmond, BC. The state-of-the-art, $1.1 million, 220-ton capacity hoist, which weighs 125 tons, can lift boats from roughly 30 to 150 ft. Arrow Marine Services is a division of well-known Canadian trucking firm Arrow Transportation Systems. According to Brian Charles, general manager


Cummins,CitiCapital Launch Alliance for Finance

Cummins Inc. and CitiCapital have reached an agreement to promote a co-sponsored marine finance program. Under the agreement customers who purchase Cummins engines for various commercial vessels will receive exclusive finance products provided by CitiCapital. This agreement demonstrates the cooperative efforts of both companies by bringing together the premier manufacturer of marine engines and the world's largest financial services conglomerate. The agreement will initially cover the U.S


Moves at ExxonMobil Marine Fuels International Team

ExxonMobil Marine Fuels (EMMF) has appointed Ahmed Zaki and Boris Nigbur to its international team based in Leatherhead, near London in the U.K. Ahmed joins from ExxonMobil's local affiliate in Egypt, where he worked in Marine Fuels Business Development. Boris has come from the company's subsidiary in Germany, where he was involved in Marine Sales. Meanwhile, Emmanuel Onillon and Neal Bolton have left EMMF to pursue interests elsewhere


ZF Marine Named Supplier of the Year

Mercury award.jpg

ZF Marine has been chosen as one of Mercury Marine’s suppliers of the year. Each year Mercury Marine evaluates over 1,500 suppliers, and selects only 12 to receive this award.  AJ Halavacs, Pleasure Craft Segment Manager, and John Shea, Account Manager, both from ZF Marine were on hand to receive the award from Mercury Marine.  It was presented last month at the Mercury Marine Supplier Conference in Sarasota. Fla


Two Marine Engineers Join Specialists EBDG

John T.D. Lair: Photo EBDG

Naval architecture, marine engineering & production support service providers Elliott Bay Design Group LLC (EBDG) apprise that they have appointed marine engineers Nick Bannon to its Seattle office and John T.D. Lair to its New Orleans office.


Vice-Principal Of S.Korea School In Ferry Disaster Commits Suicide

The vice-principal of a South Korean high school who accompanied hundreds of pupils on a ferry that capsized has committed suicide, police said on Friday, as hopes faded of finding any of the 268 missing alive.   The Sewol, carrying 475 passengers and crew


Crewman Claims Ferry Captain "Rushed Back To Bridge"

The captain of a South Korean ferry that capsized two days ago rushed back to the bridge after it started listing severely and tried in vain to right the vessel, one of the helmsmen on the ship said on Friday.   A junior officer was steering the Sewol ferry when it capsized on Wednesday


Bodies found trapped in S Korean ferry

search for bodies in sunken South Korean ferry

Divers searching for survivors of a capsized South Korean ferry saw three bodies floating through a window of a passenger cabin on Saturday but were unable to retrieve them, the coastguard said, hours after the ship's captain was arrested. The ferry, carrying 476 passengers


Technology, Economy the Focus of New Marine Academy in China

Chinas Ningbo container port (Photo courtesy UNNC)

The Ningbo Nottingham International Academy for Marine Economy and Technology (IAMET) has been officially launched at a ceremony at The University of Nottingham Ningbo China (UNNC). A partnership between The University of Nottingham, Wanli Education Group and Ningbo Municipal Government


MAS Debuts Exclusive Armor Systems

Photo: MAS

Following on from the continued success of the product, Marine Armor System (MAS) announced its global launch and updated website. MAS is a nonlethal vessel protection system based on ballistic blinds, protecting the vessel or rig against pirate attacks and other potential threats such as armed


Shipbuilding: Vigor Industrial Grows Stronger

 Frank Foti, Vigor Industrial CEO

Vigor Industrial has ballooned from a modest shipyard in Portland, Oregon, to the largest shipbuilder in the Pacific Northwest and Alaska. Vigor increasingly thinks big and builds big. The company’s new floating dry dock will be the largest in the United States


A New Standard in Marine Communications

IPmobilecast.jpg

KVH provides and Harvey Gulf employs possibly the most sophisticated on-board SATCOM and related service package on the water. That’s no accident.     If quality service, high tech hardware and quality personnel are the common bonds shared by marine communications


Keppel Q1 Profits Dip Slightly

Maersk Intrepid was delivered by Keppel in Q1 2014 (Photo courtesy Maersk)

The Keppel Corporation released its limited unaudited results for the first quarter ending March31, 2014, reporting a 5% decrease in net profits to S$339 million compared to Q1 2013's S$357 million, though the company attributed the decline to one-off gains from the reversal of provision from the


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


UPDATE -Survivors still alive on South Korean ferry

Several people appear to have survived in an air pocket of a capsized South Korean ferry, the father of one of the school children aboard the boat told a Reuters reporter accompanying families out to the scene of the disaster on Thursday. About 290 people are still missing out of 450 passengers


Otto Marine's Financial Health on the Mend

Michael See Kian Heng: Photo Otto Marine

Michael See Kian Heng, Group Executive Director of Singapore-based offshore vessel owners & shipbuilders Otto Marine, says that his company reported revenue of US$512.0 million in year 2013, an increase of 36.8% over US$374.4 million in 2012


GE Gas Turbines Power USS America

Image courtesy GE Marine

GE Marine reports that the United States Navy’s future USS America (LHA 6) amphibious assault ship recently completed successful acceptance sea trials powered by two GE LM2500+ marine gas turbines. Acceptance sea trials were conducted in the Gulf of Mexico by Huntington Ingalls Industries


Kvichak-built Hovercraft for Sale

SUNAX (Photo courtexy Kvichak)

The 95’ BHT-150 hovercraft SUNAX, built by Kvichak Marine Industries and owned and operated by Aleutians East Borough, is for sale through public competitive bid.  The hovercraft will be sold through a sealed bid process. An IFB package will be available May 15, 2014


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


 
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