Group Reports News

Classification society ClassNK announced it has granted an Innovation Endorsement for Products & Solutions to a vessel and voyage performance monitoring platform called Cassandra, developed by Deep Sea Technologies SMPC.Cassandra integrates performance data from vessels with AI technology, and then enables real-time monitoring of the ship’s current status. It is cloud-based and designed to monitor fuel consumption, CO2 emissions, as well as hull and engine performance from shore.ClassNK has verified the functions of Cassandra.CO2 emissions monitoring…

BIO-UV Group reported a 31% increase in revenues from its maritime business segment, contributing to full-year consolidated revenues of $56m for the 2022 financial year, confirming the sale of more than 200 BIO-SEA ballast water treatment systems throughout the course of the year."2022 was another year of very strong growth for BIO-UV Group, for both the Land and Marine divisions," said Benoît Gillmann, Founder, Chairman and CEO of BIO-UV Group.“Ultimately, targets were exceeded with $1.6 million more in sales than the $54 million we had anticipated.

The Damen Shipyards Group reports it has sold a full option Cutter Suction Dredger (CSD) 500 to the Argentinian dredging contractor Servimagnus. The modular dredger is currently under construction at the Damen Dredging yard in Nijkerk, The Netherlands, and will be shipped to South America later this year to join the Servimagnus fleet working on a waterways program in the province of Buenos Aires.“One of the major rivers in the outstretched plains in the Argentinian Province of Buenos Aires…

Damen Shipyards Group reports it has delivered five zero emissions propulsion ferries to Arriva Denmark in Copenhagen. Arriva is operating the vessels on behalf of Danish public transport agency Movia. When Movia issued the public tender for waterborne public transport in Copenhagen, its aim was to upgrade the service, making it cleaner and more sustainable.The new Damen Ferries 2306 E3 make significant strides towards a zero emission service, reducing Copenhagen’s public transport NOX emissions by 2.5%…

The coronavirus pandemic has not caused Italian shipbuilding giant Fincantieri to lose any of its existing orders, CEO Giuseppe Bono told a Senate defense committee.While the company has not received any order cancellations to date, the company—one of the world's top cruise ship builders—said in its first quarter report that it is in talks with clients and subcontractors to discuss potentially stretching out order delivery times for vessels currently under construction and on…

U.K. shipbuilder SMS Group reports it has delivered a newbuild aquaculture vessel to a Tuna farm operator in Malta.The new vessel, Emmaya, has 24m LOA, 8.5m beam and a 3m draft, and it is built to the MCA-MGN-280-Catergory 1 (150nm from safe haven) workboat code. Designed by Walker Marine Design, the workboat will provide tuna harvesting and aquaculture/fish farm logistical and maintenance support services.David Azzopardi, Director of Fish and Fish Ltd, said, “This represents a major investment for Fish and Fish Ltd…

Eastern Shipbuilding Group reports that the keel laying ceremony for the U.S. Coast Guard’s first-of-class Offshore Patrol Cutter (OPC) Argus (WMSM-915) was held on April 28, 2020 at Eastern’s Nelson Street facility in Panama City, Fla. USCGC Argus is scheduled to be delivered in 2022.The ceremony was performed and recorded without audience to comply with CDC guidelines to combat the spread of COVID-19.The keel laying represents the ceremonial start of a ship’s life by commemorating the assembly of the initial modular construction units.

Eastern Shipbuilding Group reports that steel cutting for the second Offshore Patrol Cutter (OPC), Coast Guard Cutter Chase (WMSM-916), commenced on April 27, 2020 at its facilities in Panama City, Fla. The cutting of steel started the fabrication and assembly of the cutter’s hull, and ESG is to complete keel laying of Chase in 2021. Additionally, ESG has commenced the placement of orders for long lead time materials for OPC #3, Coast Guard Cutter Ingham (WMSM-917).Eastern’s President Mr.

The global ship repair, conversion and fabrication specialist A&P Group is now using 100% renewable energy across all three of its facilities as it aims to improve its green credentials and meet Government targets.The UK-based A&P Group with three shipyards located in Hebburn, Middlesbrough and Falmouth said it is committed to improving the sustainability of its services and reducing carbon emissions to ensure it meets UK Government’s legal requirement of bringing all greenhouse gas emissions to net zero by 2050.A&P Group’s decision to buy its energy from Haven Power, a company which only supplies energy from a renewable source, is the latest measure to help achieve this goal…

Jan De Nul Group reports that it has finished the maintenance dredging operations in the Port of Maputo, Mozambique, for the Maputo Port Development Company. This dredging campaign restored the depths created after Jan De Nul Group’s 2016 capital dredging campaign.Since 2017, the Port of Maputo is open for vessels up to 80,000 tonnes. Jan De Nul Group executed capital dredging works in 2016 to deepen the access channel and port basins from -11mCD to depths varying between -13.05mCD and -14.4mCD.

Eastern Shipbuilding Group reports that steel cutting for the first offshore patrol cutter (OPC), Coast Guard Cutter ARGUS (WMSM-915), commenced on January 7, 2019 at Eastern’s facilities. ESG successfully achieved this milestone even with sustaining damage and work interruption due to Hurricane Michael. The cutting of steel will start the fabrication and assembly of the cutter’s hull, and ESG is to complete keel laying of ARGUS later this year. Additionally, ESG completed the placement of orders for all long lead time materials for OPC #2…

Golden Ocean Group Limited (GOGL) reported a net income of $9.0 million for the second quarter of 2018, compared to net loss of $12.0 million for the second quarter of 2017.The Norway based dry bulk shipping company has entered into a $120 million loan facility to refinance 10 vessels on favorable terms. It delivered the Golden Eminence, a Panamax vessel, to her new owner in early August 2018.The company has also signed contracts to install exhaust gas scrubbers on 16 Capesize vessels and options for 9 additional installations.Birgitte Ringstad Vartdal, Chief Executive Officer of Golden Ocean Management AS, commented: "Golden Ocean generated positive results once again in the second quarter. The market continues to strengthen over the summer, in particular for Capesize vessels.

Switzerland based equipment manufacturer Liebherr Group reports its 2017 turnover was the highest in the group's history, with total sales of €9,845 million.The company’s 2017 revenue increased 9.3 percent compared to the previous year, a trend the group says it believes will continue in 2018.The group posted a net result of €331 million for 2017, an increase of €33 million or 11.1 percent compared to the previous year.Liebherr reported a significant improvement in the operating result in the reporting year.

Commodities trader Noble Group reported a second- quarter loss of $1.75 billion on Thursday, weeks after warning it faced its steepest quarterly loss in a year and a half and would slash jobs and sell assets to cut debt. Once Asia's largest commodities trading house, Noble is slimming down drastically to its core Asian coal trading business after a crisis-wracked two years. Last month, it announced the sale of its U.S. gas and power business and began a process to sell its oil liquids unit. "Conservative liquidity management, scaling back of risk positions and constraints placed on the group's access to trade finance lines led to disruption costs and prevented the group from taking advantage of profitable opportunities," the Singapore-listed company said in a statement on Thursday.

Hyundai Heavy Industries’ shipbuilding affiliate Hyundai Samho Heavy Industries (HSHI) said it recently won a $240 million order to build four 114,000 DWT Ice-Class IA aframax tankers from Sovcomflot, the Russia’s state-owned shipping company. The vessels are said to be the world’s first LNG-fueled aframax tankers, and will measure 250 meters in length, 44 meters in width and 21 meters in height. They are scheduled to be delivered from the third quarter of 2018 and to be chartered to Shell.

TRIYARDS Holdings Limited (“TRIYARDS” or the “Group”) reports a revenue of US$91.2 million for the three months ended 30 November 2016 (“1QFY17”), a 17% increase from the corresponding year-ago period (“1QFY16”). The increase was mainly a result of contributions from two units of multi-purpose support vessels (“MPSVs”), three units of chemical tanker, four units of escort tugs, one unit of scientific research vessel and two units of oil tankers during the reporting period and contribution from the Strategic Marine Group Net attributable profit (“PATMI”) for 1QFY17 was US$2.1 million, down 66%, from the previous  corresponding period mainly due to lower gross profit margins resulting from different project mixes as well as competitive market environment…

Danish shipper Maersk Line, part of A.P. Moller-Maersk, said it is no longer considering Hyundai Merchant Marine for membership in the group, reports Reuters. This is a major blow to the troubled Korean shipping company. Membership in 2M Alliance would have guaranteed HMM a steady income during one of the industry’s worst down-cycles and cut annual operating expenses by sharing ships, networks and port calls. The world's two largest container shippers, Maersk Line and Mediterranean Shipping Co (MSC), have discussed with Hyundai since July about including the Korean shipper in the 2M alliance. "The parties have discussed the possibility of Hyundai Merchant Marine joining 2M as an operating partner and now decided to look at other cooperation possibilities…

The restructuring issue of Samsung Heavy Industries (SHI) will spread to the entire Samsung Group as its main creditor Korea Development Bank(KDB)  and the financial authorities are putting pressure on the group, reports Business Korea. SHI has submitted its self-rescue plan to its main creditor, the state-run KDB, the Korea Herald reports citing a company official as saying on Tuesday. The plan, aimed at restoring the company’s liquidity, reportedly includes up to 1,500 job cuts, selling of KRW 200 billion worth (USD 169 million) of real estate assets and disposing of stakes in Doosan Engine. SHI’s move is in line with the three-track plan revealed by the country’s financial regulator…

Chinese shipping subsidiaries will realign their businesses in response to the merger between China Ocean Shipping (Group), known as Cosco Group, and China Shipping Group, reports Nikkei. Sinotrans & CSC Holdings Co., the nation's third largest shipping company, will become a wholly-owned subsidiary of China Merchants Group (CMG). Earlier in December, China approved the merger of another two of its biggest state-owned shipping companies, China Ocean Shipping Group (Cosco) and China Shipping Group. China Cosco Holdings is selling its entire stake in a bulk shipping company to parent Cosco Group for 6.77 billion yuan ($1.04 billion). Meanwhile, Cosco Pacific will buy a port operator from China Shipping Container Lines for 7.63 billion yuan.

Turnover increased by 8 percent to reach 1.315 billion Euros, with net profit rising by 66 percent to reach 57.8 million Euros. The engineering and technology group SENER ended 2014 with a turnover of 1,315.7 billion Euros; an increase of 8.02 percent over the previous year. The group’s operating result came to 73.3 million Euros, representing an increase of 54.7 percent compared to 2013, and the holding company’s profit reached 57.8 million Euros (an increase of 66.1 percent). The number of people working at SENER has remained almost constant at 5,541 (a decrease of 0.52 percent).

Rickmers Group reports that a representative of its company today has been allowed to board the seized container vessel Maersk Tigris, following an urgent request to Iranian authorities. The seized ship, managed by Rickmers Shipmanagement (Singapore), has a crew of 24 seafarers. The Rickmers representative has been able to establish that all seafarers are safe and on board the vessel. Given the current circumstances they are all in a good condition, the ship’s manager said. Maersk Tigris was seized by the Iranian Navy on Tuesday April 28 and has since been under control of the authorities. Iranian officials said the seizure is related to a cargo dispute with Maersk Line, the charterers of the vessel, which dates back to 2005.

Lamprell published a trading update ahead of its results for the year ending December 31, 2014, stating it has delivered a robust operational and financial performance in 2014 as a result of strong project execution, favorable phasing of rig construction cycles and some one-off elements. The group reports it has seen a strong rate of conversion of its bid pipeline with six new build jackup rig orders won and several smaller awards signed recently. In the second half of the year, Lamprell commenced construction for four new build jackup rigs, two for Ensco rigs and two for Shelf Drilling.

NYC-based PIRA Energy Group reports that oil inventories are higher and crude demand is lower. In the U.S., stock surplus to last year is roughly flat. In Japan, crude stocks draw amid peak run rates. Oil inventories are higher, crude demand is lower and PIRA is beginning to question the expected 2H 2014 and 2015 lift off in economic activity. Also, add in unrelenting upward revisions to U.S. oil supply growth with non-OPEC supply additions continuing to substantially outpace demand growth and you have a combination of factors pointing to lower prices. This past week’s inventory increase kept the year-on-year overall stock surplus to around 4 million barrels.