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Global Marine Port and Service Industry to Grow at a CAGR of 4.7%

Photo by Global Energy Holdings Ltd

 According to a new industry report published by Lucintel, the future of the global marine port and service industry looks good, with opportunities in the marine freight transportation industry.    As per a Lucintel study, the global marine port and service industry is forecast to grow at a CAGR of 4.7% from 2015 to 2020. The major drivers of growth for this industry are high growth of the marine freight transportation industry and surging demand of containerized and bulk cargo.    Increasing global exports, rising customer (Shipping companies) demand, and expansion of new regional trade hubs are the additional factors contributing to accelerated growth.   In this industry, container handling services, ship repair and maintenance services, navigation services, supply chain and logistic solution services, and mechanical and electrical engineering services are the operating segments in the global marine port and service industry.    Navigation services are expected to depict above average growth during the forecast period. Lucintel adds that the demand for navigation services is expected to experience the highest growth in the forecast period, supported by an increase in marine freight transportation, which in turn increases the calls of vessels at ports.   


Kanoo to Reveal Latest Developments at Services Show

Kanoo Shipping – an offshore and marine services provider in the Middle East, operating throughout Saudi Arabia, Bahrain, UAE, Oman, Qatar, Yemen, Iraq and Sudan – will be present at the Saudi International Marine Services Show -2013 to demonstrate various services provided by the company including marine operations, shipbuilding, ship and rig repair division, engineering and construction services and sea ports operations.


PPL Shipyard Completes Acquisition of Sabine Industries

Further to its announcement dated September 22, 2005, “SembCorp Marine’s PPL Shipyard Acquires Sabine Shipyard in Texas, USA”, SembCorp Marine is pleased to announce that its subsidiary PPL Shipyard has completed the acquisition of a 100 per cent equity interest in Sabine Industries, Inc. (SII) and its subsidiaries Sabine Offshore Services, Inc (SOSI) and Sabine Shipyards, Inc (SSI) and a 25 per cent equity interest in Sabine Vessels, Inc (SVI) for a total consideration of US$6.4 million.


Offshore Services Chooses MarineCFO Software

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MarineCFO Inc., a provider of Marine Software including On-Vessel, Marine Operations, Personnel, Fleet Maintenance and Financial Management Software Solutions to the Marine Transportation Industry, announced that International Offshore Services has chosen to implement the full MarineCFO Enterprise software suite. International Offshore Services, LLC was formed in 2006 by combining International Marine (started in 1996) and International Construction Group


Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry. Created in Houston, Texas, in 1962, MatthewsDaniel is headquartered in London and has operations in Europe, the Middle East, Asia and the Americas. The company employs more than 150 people and reported revenues of approximately EUR 34M in 2013. MatthewsDaniel primarily provides services for the insurance market


Tauber Oil Opens West Calcasieu Port Operations

Photo: West Calcasieu Port

Tauber Oil Company of Houston has become the West Calcasieu Port’s newest tenant.    “Tauber Oil is a service-oriented wholesale energy marketing company with a reputation for reliable performance and untarnished character,” said Lynn Hohensee, port director. “The marine vessel operators along the Gulf Intracoastal Waterway and the Calcasieu River Waterway will find they now have a new first class refueling option in Southwest Louisiana.”  


Litton Integrates Marine Ops In New Company

The consolidation of marine industry assets in the U.S. has taken a rather unique twist, as Litton Industries — with a strategy of becoming the marine industry's full-service leader — announced the formation of a new company, the Litton Ship Systems Full Service Center (LSS FSC). Litton, which for years has been amassing an impressive arsenal of marine equipment builders and suppliers from around the globe, formed LSS FSC to operate as a stand-alone business within the existing Litton Ship


Reid Joins Kvichak

Photo courtesy Kvichak Marine Industries

Carol Reid has joined Kvichak Marine Industries, Inc. as their Marketing Services Manager.  In her position she is responsible for all company related marketing, promotional and advertising functions. Prior to accepting the position she was in sales and marketing at Swiftsure Yachts, a premier full service yacht brokerage in Seattle, Wa.  In addition to a lifelong involvement in boating, Carol brings to Kvichak over eight years of direct experience in the marine industry


ZF Explores Chinese Offshore Market

ZF Marine Retractable Thruster

Marine Propulsion Systems, a business unit of ZF Friedrichshafen AG, shared at the sidelines of Marintec China 2013 that China continues to be a key focus for the company and shared plans to strengthen its footprint in the market. ZF Marine has been in China since 2006 and currently operates a sales and services office in Shanghai which serves as a competence center for all marine applications in China. With optimism slowly returning to the global offshore market


Report: UK Marine Industry has £6.2b Impact

The full economic impact of the U.K. marine industry and spend associated with boating participation was estimated to total £6.2 billion in 2012/13, according to a new report released by the British Marine Federation (BMF). Latest industry trends results also announced by the BMF show encouraging signs of an upward trend for this key contributor to the U.K. economy. The two reports are announced in a week when the U.K


Hyundai Global Services Enters into Eco-friendly Ship Services Business with KSS Line

Gas Star, 84,000cbm LPG carrier of KSS Line. The ship is going to be the first among KSS Line’s fleet to be retrofitted with Exhaust Gas Cleaning System. Photo: Hyundai Global Services

 Hyundai Global Services (HGS), Hyundai Heavy Industries’ (HHI) newly spun-off company specializing in providing total marine services announced today it signed an MOU with KSS Line, a Korean shipping company, for entering into eco-friendly ship business.  


First collaboration for Sydney City Marine and Damen

Sydney City Marine has completed its first maintenance docking of a Damen vessel since the signing ofa Memorandum of Understanding (MOU) with Damen Shipyards Group last year. The works signify the successful cooperation between Damen Services in the Netherlands


Miliaras tapped for Carnival Maritime Post

Minas Miliaras has taken on the role of Vice President Fleet Cruise Execution at Carnival Maritime, the Marine Service Unit of the Costa Group (AIDA, Costa) in Hamburg.   Minas will head the fleet teams and the maintenance development team for all AIDA Cruises


ABS Issues First Cyber Safety Notation

© Maksim Kabakou / Adobe Stock

ABS said it has issued its first notation for the ABS Guide for Cybersecurity Implementation for the marine and offshore Industries.    “The focus on cyber safety is increasing, and that is changing the expectations industry has for classification services


Tototheo Commits 1,500 Vessels to Fleet Xpress

L-R Socrates Theodossiou, Managing Director, Tototheo Group Ltd, Ronald Spithout, President, Inmarsat Maritime and Despina Panayiotou Theodosiou, Managing Director Tototheo Group Ltd Photo Inmarsat

Satlink Satellite Communications has entered into a new agreement with Inmarsat to integrate Fleet Xpress into Satlink’s existing service portfolio. Through the agreement, Satlink will bring more than 1,500 vessels to the Fleet Xpress service over a five-year period.


First Purpose-built LNG Bunkering Vessel Delivered

Photo NYK Line

ENGIE, Fluxys, Mitsubishi Corporation, and NYK have taken delivery of the world’s first purpose built liquefied natural gas bunkering vessel (LBV) from Hanjin Heavy Industries & Construction Co. Ltd., at the Yeongdo shipyard in Busan, Korea


Commercial Sea Training Resumes for USMMA Cadets

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The United States Merchant Marine Academy (USMMA) has announced that Sea Year training for USMMA Midshipmen will resume on three commercial carriers beginning in March 2017.   The reinstatement of the program follows the implementation of comprehensive new policies


Hanjin Heavy Delivers Purpose-Built LNG Bunkering Vessel

Photo: ENGIE

ENGIE, Fluxys, Mitsubishi Corporation, and NYK have taken delivery of the world’s first purpose built liquefied natural gas bunkering vessel (LBV) from Hanjin Heavy Industries & Construction Co. Ltd., at the Yeongdo shipyard in Busan, Korea.   


Galasso Named Ocean Signal Sales Manager

Rich Galasso (Photo: Ocean Signal)

Communication and safety at sea specialist Ocean Signal has announced the appointment of Rich Galasso as its new US Sales Manager. Galasso will assist with the company’s sales growth strategy in the US as demand continues to increase for Ocean Signal’s communication and safety


The MN100 Edition is Coming

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The August 2017 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators, workboat builders and repairers, and product and service providers.


Shipbuilder HII Declares Quarterly Dividend

Columbia Class Courtesy Huntington Ingalls Industries

 Huntington Ingalls Industries announced today that its Board of Directors has declared a quarterly cash dividend of $0.60 per share, payable on March 10, 2017, to shareholders of record as of the close of business on March 3, 2017. Huntington Ingalls Industries is America’s largest


NMMA CSI award for Volvo Penta

One can experience first-hand how the combination of Volvo Penta’s Glass Cockpit and joystick has changed the way boaters can monitor, control and maneuver their entire vessel with ease. Photo Volvo Penta

The National Marine Manufacturers Association (NMMA) has presented the 14th consecutive annual Customer Satisfaction Index (CSI) award to Volvo Penta for its gasoline sterndrive engines.   The CSI awards, presented at the Miami International Boat Show Feb


FUSION Wins NMMA Innovation Award

NMMA Innovation Award in the Watersport Equipment category at the 2017 Miami International Boat Show for its STEREOACTIVE purpose-built portable marine stereo. Photo FUSION Entertainment

FUSION announced today that its STEREOACTIVE purpose-builtportable marine stereo has won the National Marine Manufacturers Association (NMMA) Innovation Award in the Watersport Equipmentcategory at the 2017 Miami International Boat Show. The Innovation Awards program


Fincantieri, Ferretti Group join forces

Fincantieri and Ferretti Group today announced they have signed a wide-ranging co-operation agreement , with the aim of developing industrial and commercial synergies between the world's two leading Italian companies in their respective sectors.


LNG Bunkering Commences in Australia

(Photo: EVOL)

First Australian commercial LNG bunkering completed in WA’s north-west on 23 January 2017 by EVOL LNG for Woodside   Under an agreement with Woodside, EVOL LNG refueled the platform supply vessel, Siem Thiima, on January 23 at King Bay Supply Base near Dampier






 
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