Companies In Europe
Tidewater to Acquire Troms Offshore Supply
US Firm, Tidewater, agrees with HitecVision to purchase Norway's Troms offshore, including 5 large PSV's. Tidewater say that the acquisition of Troms Offshore, headquartered in Tromsø, Norway, will expand their global footprint into the Norwegian sector of the North Sea and supplement their experience and vessel fleet operating in harsh environments, including cold climates. The Troms Offshore-owned fleet is expected to include five large, modern and technically-advanced deepwater Platform Supply Vessels (PSVs) at closing. In addition, Troms Offshore has one additional deepwater PSV under construction at the VARD Aukra yard in Møre og Romsdal, Norway and an option to build a seventh vessel. "We are committed to effectively serving our customers on a global basis and meeting their evolving needs, especially in challenging environments. We believe that the Troms Offshore management team, shore-based employees, mariners and fleet will help us deliver on that service commitment,” said Jeffrey M. Platt, President, CEO and Director of Tidewater Inc. The purchase price includes $150 million in cash and the assumption of approximately $245 million of combined Troms Offshore obligations, comprised of net interest-bearing debt and remaining installment payments on vessels under construction
L-3 M&PS Expands in Brazil, Appoints Lobo
L-3 Marine & Power Systems (M&PS) has extended its presence into the Brazilian marketplace by opening a new office and appointing key local staff. All regional operations for the new Brazilian office will be led by Jonas Henrique Lobo. Lobo will serve as the director of business development for the L-3 Marine & Offshore Brazil office, reporting directly to Brian Pope, senior vice president of business development for L-3 M&PS.
UK P&I Club Restructures to Increase Efficiency
The UK P&I Club has announced that it is reorganizing its structure to establish UK Europe as the sole provider of direct insurance to UK Club members. By reducing the number of separately regulated insurers from two to one, the UK Club aims to streamline governance, reduce compliance costs, and manage more efficiently the Club’s solvency capital requirements, while meeting the impending Solvency 2 regulations for insurers in the European Union.
STX Europe Sells Shares in STX OSV Holdings Ltd.
STX Europe Holding AS, a wholly owned subsidiary of STX Europe AS (STX Europe), has agreed to sell part of its equity interests in STX OSV Holdings Limited (STX OSV) to investment funds affiliated with OZ Management LP (Och-Ziff). The placement of 215,590,000 ordinary shares by STX Europe will be at a price of S$1.33 per share. This amounts to approximately 18.27% of the total issued share capital of STX OSV. Following the sale, STX Europe will hold 598,851
Maersk Line Launches Asia-Europe Network
Maersk Line is pleased to announce our improved Asia - Europe network, which we will launch in April 2007. The new Asia - Europe network is a result of the ongoing review of Maersk Line's global network. "To support the improvements and accommodate the expected market growth of 15% on the westbound trade we will increase our capacity by 13% during 2007, primarily through deployment of larger tonnage," says Peter Frederiksen, senior vice president in Maersk Line.
Sember Named President and COO of ABS Europe
ABS has named William J. Sember to the position of President and COO for one of its three divisions, ABS Europe, effective 1 January 2007. Sember replaces Christopher J. Wiernicki who moves to the organization’s worldwide headquarters in Houston, TX, USA to assume the role of President and Chief Operating Officer. Currently Vice President of Energy Development and a Corporate Officer, Sember is a 30 year ABS veteran having joined the class society as a
Aker Yards Now STX Europe
Aker Yards, builder of cruise and offshore vessels, changed its name to STX Europe. The name change reflects the entry of the South Korean-based STX Business Group as principal shareholder in the company during summer 2008. Effective Nov. 3, the international shipbuilding group Aker Yards, with head office in Oslo, Norway, and all its subsidiaries, will share the common brand STX Europe.STX Europe specializes in designing and building advanced cruise ships and purpose-built vessels for
France Buys into STX Europe
The French Republic became a 33.34 percent shareholder in STX France and its shipyards in Saint-Nazaire and Lorient. STX Europe is a builder of cruise ships and ferries, with a market share of 35 - 40 percent. The company builds cruise ships at its yards in France and Finland. The French yards also have experience with navy vessels. Other shipyards in STX Europe are build specialized offshore vessels. The new agreement between STX Europe and the French Republic is a realization of
Mitsui, Hoegh Establish EML
Mitsui O.S.K. Lines, Ltd. (Tokyo) and Höegh Autoliners AS (Oslo) have set up a 50/50 joint venture in Europe, integrating the existing European short sea and logistics activities of both shareholders and of Euro Marine Carrier BV. The new company, named Euro Marine Logistics NV (EML), was registered in March 2011 and has its offices in Meise (Brussels), Belgium. EML is a common carrier and started trading in the second week of June
CMA CGM Upgrades Service, North Europe, South Atlantic, Mexico and the Gulf
CMA CGM announced the launch of its New Victory Bridge service linking North Europe to U.S. South Atlantic, Mexico and the U.S. Gulf, effective October 17, 2010. Launched in partnership with CSAV, this service previously operated in cooperation with MSC will deploy five vessels of 3,000 teus (3 x CMA CGM, 2 x CSAV) and strengthen the presence of CMA CGM on the North Europe / Mexico / United States trade thanks to the following developments:
U.S. DofE Likely to Grant More LNG Export Permits
The Department of Energy is likely to approve additional permits this year to companies looking to export liquefied natural gas more broadly, reports Market Watch, citing Morgan Stanley. Freeport LNG has recently received DOE approval to export LNG to countries without a free trade agreement with
SENER Hires New GM for Engineering Business Unit
Rafael de Góngora Escrivá de Romaní has been appointed Head of the Marine Engineering Strategic Business Unit (MaSBU) and director of the Department of Engineering and Marine Systems of SENER, an engineering and technology group that has a workforce of more than 5
PPG Begins Protective/Marine Coatings Production at Poland Facility
PPG Industries announced it has started manufacturing protective and marine coatings (PMC) at the company’s facility in Ostrów Wielkopolski, Poland. The facility, which previously produced architectural coatings and was part of PPG’s January 2012 acquisition of Dyrup A/S
Strategic Marine Delivers Two Windfarm Service Vessels
Specialist boatbuilder Strategic Marine delivered the Njord Puffin to offshore windfarm service fleet operator Njord Offshore for deployment in Northern Europe. “The Puffin is the sixth in a series of eight vessels ordered, a strong signal of our commitment to the global windfarm industry
Port of Montreal Open to post-Panamax Ships
The Canadian Coast Guard (CCG) authorizes the passage of vessels up to 44 metres wide in the Quebec-Montreal section of the St. Lawrence navigation channel. The previous authorized width was 32.1 metres without restrictions. The CCG has made the provisions following a study commissioned by
Admiral Papp to Explain USCG Arctic Strategy at CSIS Forum
Admiral Robert J. Papp, Commandant of the U.S. Coast Guard, to address the Center for Strategic & International Studies (CSIS) forum on May 21, 2013. CSIS Europe Program will host a Military Strategy Forum on the Coast Guard's strategic vision for its future role in the Arctic
Korean Shipyard Delivers Container Ship ‘Hanjin Argentina’
The 3600 TEU container ship, built under the supervision of Navgathi Marine by Hyundai Sambo delivered to Pacific International Lines. Hanjin Argentina is the third of a series of four such vessels ordered by Pacific International Lines of Singapore from the S. Korea shipbuilders.
Global Freight Rates Plunge, Report Finds
Average global freight rates have fallen to a 15-month low, according to Drewry’s new online Container Freight Rate Insight. Drewry’s Global Freight Rate Index fell 12% in April to reach its lowest level since February 2012, when container shipping was still recovering from the last
Harris Pye Opens New Office in Dubai
Harris Pye marked another milestone in their bid for further global expansion last week with the opening of their brand new company in Jumeirah Lakes Towers, Dubai, United Arab Emirates. This company was established to centralize engineering teams to support global business dealings with regard to
Hamburg Süd 2012: Better, but Not yet Good Enough
Hamburg Süd’s performance in brief Following the powerful recovery of the world economy in 2010 and a weaker 2011, global growth continued in the past financial year, albeit at a slower pace. Against this backdrop, container shipments increased once again
NGO's Condemn IMO Environmental Implementation Delays
The International Maritime Organisation (IMO) today decided to postpone the entry into force of nitrogen oxide (NOx) emissions limits for ship engines from 2016 to 2021. Environmental NGOs Transport & Environment (T&E) and Seas at Risk
Amber Coast Logistics Challenge Cross-border Mindsets
The Amber Coast Logistics project brings together 19 project partners from Belarus, Denmark, Germany, Latvia, Lithuania and Poland, as well as another 25 associated partners. Founded with EU support, the project is designed to strengthen and exploit the existing potential of the transport and
Northrop Grumman Names CEO U.K. and Europe
Northrop Grumman Corporation will appoint Andrew Tyler chief executive for the United Kingdom and Europe, effective July 1, 2013. In this new position, Tyler will play a leading role in supporting the company's current programmers, developing strategies for growth and identifying new business
Container Carrier Rate Wars Intensify
Ocean carriers cannot afford to operate services from Asia to Europe at rates which are between 25% and 30% lower than in January, says Drewry. Although the recent collapse of rates was excessive, it will not be reversed until carriers withdraw at least two more loops to North Europe –
BMT Restructures Marine Survey Businesses
To better position itself in the market and meet customers’ needs of regional expertise accessible through local offices, BMT Group Ltd (BMT) has announced that marine surveying companies BMT De Beer and BMT Techmar became BMT Surveys on the May 1, 2013.