SAAM Closes 2023 with Historic Earnings
SAAM reported net income of US$501 million in 2023, representing its best-ever results thanks to the sale of its port and logistics assets to Hapag-Lloyd, which generated a net gain of US$422 million.Sales for the year totaled US$540 million and EBITDA was US$160 million, surpassing the prior year by 17% and 9%, respectively."The sale of our port terminal and inland logistics operations leaves us in a solid position to move forward on the path we have set for ourselves: to lead the consolidation process in the towage industry and grow in air cargo logistics services.
Svitzer Reports 2023 Revenue Growth of 6%
Towage and marine services company Svitzer has published its 2023 annual report, showing that total revenue grew 6% to DKK 5,786 million driven by, among other things, a record number of harbour towage tug jobs of more than 150,000.Adjusted for foreign exchange impact, total revenue grew 9.5%. Operating profit (EBITDA) was up 4% to DKK 1,690 million, corresponding to an EBITDA margin of 29.2%. In the past five years, total revenue has on average grown by almost 6% annually with an average EBITDA margin of 30%.
Orsel Takes the Helm as ECSA's First Female President
Karin Orsel has been appointed the first female President ever in the history of the European Community Shipowners’ Associations (ECSA), starting on January 1, 2024 for a two-year term, with Mikki Koskinen joining as the new Vice-President. She succeeds Philippos Philis, who has held the position since January 2022.Commenting on her appointment, new ECSA President Karin Orsel said, “The strategic role of European shipping for the security of the Europe has come to the forefront.
New CEO Nominated for Royal Van Oord
The Supervisory Board of Van Oord intends to nominate Govert van Oord as the new CEO of Van Oord. The formal appointment will take place at Van Oord's Annual General Meeting of Shareholders on April 11, 2024.The Board is pleased to be able to transfer the leadership of the family business from the 4th to the 5th generation Van Oord family.Govert van Oord has been with Van Oord since 2002 and has worked for the company in the Middle East, Spain and Brazil, among others. He is currently responsible for the Dredging & Infra Business Unit as Managing Director.
Boskalis Water Box Design nabs IADC Safety Award
During the IADC Annual General Meeting in Barcelona, IADC President Frank Verhoeven revealed the winner of the Safety Award 2023: Boskalis for its improved safety design of the water box.Boskalis introduced new water boxes for sand fill areas, a design which is touted as greatly improving safety for its employees. The water boxes have been designed, calculated and constructed in such a way that the risk of implosion due to soil pressure is eliminated.Using an adjustable platform on the outside of the water box…
Nikolaus Schües Elected as BIMCO President
BIMCO, the world’s largest shipping association, has elected Nikolaus H. Schües, CEO and owner of Reederei F. Laeisz as President at the organization's general meeting in Hong Kong on Thursday.Schües takes over as the 46th President of BIMCO and the first German national holding the position since 2011. He takes over from Sabrina Chao of Wah Kwong Maritime Transport Holdings Limited, who has completed her two-year term.“I am honoured to be elected President of an organization…
Asian Shipowners’ Association Calls for Action on Seafarer Safety
The Asian Shipowners’ Association (ASA) held its 32nd Annual General Meeting (AGM) on May 16 in Shanghai with focus of much of the discussion on the safety of seafarers.The meeting was hosted by the China Shipowners’ Association (CSA) and attended by more than 230 representatives from ASA Ordinary/Associate members.The ASA said that unfair treatment of seafarers has a severe impact on seafarers' physical and mental well-being and a damaging effect on the image of the shipping industry and its ability to attract and retain qualified seafarers.
Petraki Appointed President of WISTA International
WISTA International (Women's International Shipping and Trading Association) elected their new President, Elpi Petraki, from WISTA Hellas, at its Annual General Meeting on October 26, in Geneva, Switzerland. WISTA International consists of 56 National WISTA Association (NWA) and each one is represented by the President or a delegate at AGM and casts their vote for their country's choice for the President.Petraki, Operations, Chartering & Business Development Manager at ENEA Management, said "I am truly honoured to have been elected as President of WISTA International.
ABB Intends to Spin Off Its Turbocharging Business
ABB announced its intention to spin off Accelleron (formerly ABB Turbocharging) turbocharging division, by way of a dividend in kind of Accelleron Industries Ltd’s shares to ABB’s shareholders. Accelleron’s listing on SIX Swiss Exchange in Zurich is planned for October 3, 2022, and is subject to, among others, approval by ABB’s shareholders at an Extraordinary General Meeting scheduled for September 7, 2022.“After careful consideration involving a dual-track process, we have concluded that spinning off Accelleron is the best way forward – for Accelleron itself and for ABB’s shareholders…
Maersk Quits ICS Board Over Climate Concerns
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AkzoNobel Names Poux-Guillaume as Next CEO
Coatings manufacturer AkzoNobel announced that Gregoire Poux-Guillaume will become the company’s new chief executive officer (CEO) as of November 1, 2022. He will succeed Thierry Vanlancker, who has been CEO and member of the board of management since 2017, and whose term of office is coming to an end.Poux-Guillaume, a French national, is an international business leader with 25 years of experience. Previous roles include CEO of Sulzer, CEO of GE Grid Solutions (previously Alstom…
Boskalis Management Says HAL's Offer Not Unreasonable, But Also Not Convincing Enough
Dutch marine services and dredging firm Boskalis said Friday that the price proposed by HAL Holding for the acquisition of all remaining shares of Boskalis wasn't unreasonable, but also not sufficiently convincing to recommend the price to its shareholders. HAL Holding on March 10 announced plans to launch a takeover offer for Boskalis' all remaining shares. The company said it planned to launch an all-cash voluntary public offer of €32.50 per share for all issued and outstanding ordinary shares of Boskalis. HAL had 46.2% shares at the time of the announcement.
Wilhelmsen Acquires Stake in Reach Subsea
Wilhelmsen has acquired a 21% stake in Reach Subsea ASA, and together the firms will form a strategic partnership to commercialize the Reach Remote concept, bringing Reach Subsea into new industry verticals and geographical regions.Jan Eyvin Wang, Executive Vice President, New Energy at Wilhelmsen says, “We have been actively assessing the subsea market to find a company that could add complementary scale to our ambition within renewables. We see potential to grow within emerging sectors such as offshore wind…
Generational Change: Maersk Board Nominates Family Heir as New Chairman
A.P. Moller-Maersk's board said on Tuesday it has nominated family heir Robert Maersk Uggla to be its next chairman as part of a generational handover at the Danish shipping company.Current chairman Jim Hagemann Snabe and vice-chair Ane Maersk Mc-Kinney Uggla, Robert Maersk Uggla's mother, are not standing for reelection to the board at its March 15 annual general meeting, the company said in a statement."After three decades on the board, it is time for me to pass on the responsibility…
American Salvage Association Elects New Leadership
Trade group the American Salvage Association (ASA) announced a new leadership team at its annual general meeting in New Orleans last week.Michael Jarvis, director of marine operations at Northstar Marine Inc was elected as the new ASA president.Nadja Knoulton. president of Laredo Construction, Inc. will serve as ASA's new vice president.Joseph Farrell III of Resolve Marine Group will be stepping into the ASA secretary/treasurer position.Outgoing ASA president Lindsay Malen-Habib…
Sabrina Chao Named BIMCO President
Sabrina Chao has been named the 45th president of international shipping association BIMCO, taking over from Ĺžadan KaptanoÄźlu, managing director of Kaptanoglu Shipping, who has completed her two-year term.Chao has been in the shipping industry since 2001 and joined the family business Wah Kwong Maritime Transport Holdings Limited in 2002. Chao held the position as chairman of the group from 2013 until August 2019 and from 2016, she served a two-year term as chairman of the Hong Kong Shipowners Association.
James Fisher Names CFO
Marine and offshore services provider James Fisher and Sons on Tuesday announced the appointment of Duncan Kennedy as Chief Financial Officer and as an Executive Director with effect from May 4, 2021, when he will join the Board.Group Finance Director Stuart Kilpatrick in March informed the James Fisher Board of his intention to step down from the Board on April 29, 2021, following the Company's Annual General Meeting.Kennedy joins James Fisher from BTG plc ("BTG"), previously a FTSE250 international specialist healthcare company…
Geelen Nominated as Fugro CFO
Dutch-based geo-data specialist Fugro said its supervisory board has nominated Barbara Geelen for appointment as member of the board of management and chief financial officer. She will succeed Paul Verhagen, who is slated to step down as Fugro CFO at the upcoming general meeting of shareholders.Geelen's nomination as member of the board of management in the role of CFO for a period of four years until the general meeting of shareholders in 2025, will be submitted to shareholders for approval at an extraordinary general meeting of shareholders to be convened on May 12.
AqualisBraemar to Acquire LOC Group
Offshore energy and marine consultancy AqualisBraemar will acquire marine and engineering consulting firm LOC Group (London Offshore Consultants).Oslo-listed group AqualisBraemar, which offers consultancy services to the offshore energy industries, said Monday that the acquisition would create "a leading global independent offshore energy and marine consultancy."David Wells, CEO of AqualisBraemar, said: "Our strategy is clear; we want to grow through continued expansion in the rapidly growing offshore renewables industry…
Interferry Names New Chair and Board Member
Ferry industry trade group Interferry announced Brittany Ferries CEO Christophe Mathieu as the new Chair of its board of directors. He was elected at the association’s annual general meeting on October 27 - held virtually due to COVID-19 travel restrictions - in succession to John Steen-Mikkelsen, former CEO of Denmark’s Danske Faerger. The meeting also confirmed the appointment of a new director extending Southeast Asia representation on the board.Mathieu, an Interferry board member since 2010…
Poulsson Reappointed as ICS Chairman
The board of the International Chamber of Shipping (ICS) reappointed Esben Poulsson, the current Chairman of ICS for a further two-year term.Having been at the helm of the shipping industry trade association since 2016, Poulsson has overseen ICS’s engagement with international bodies, national governments, and industry organisations on the key issues impacting international shipping. In the past year, under Poulsson’s leadership, ICS submitted, along with other industry partners…
Norwegian Ship Recycling Firm Takes over Kleven
Norway's ship recycling firm Green Yard is taking over the cash strapped Kleven Verft shipyard after the latter recently filed for bankruptcy.In a press release issued on Tuesday, and titled "Kleven is saved!," Kleven said that Green Yard had reached an agreement with the bankruptcy estate and the banks involved, to take over the Kleven Verft."The core competence is preserved and Green Yard Kleven will also in the future be one of Norway's most renowned shipyards," Kleven said.Kleven was in January this year taken over by Croatia's DIV Group from Hurtigruten and the future seemed brighter…
Nautical Institute's New President Outlines Top Goals
The newly elected President of The Nautical Institute, Jillian Carson-Jackson has vowed to help the Institute and wider maritime community meet three important challenges – those of diversity and inclusion, branch engagement and managing the impact of technology.Speaking at today’s Nautical Institute Annual General Meeting she announced a pledge from the Institute on diversity and inclusion saying: “There has been a concerted effort over the past years to raise visibility of not just women, but the overall role of diversity and inclusion in maritime.