Vuyk Engineering Rotterdam: Three Years of Independence
Three years ago in March, Vuyk Engineering Rotterdam gained full independence, and since then, the company has taken strategic steps to chart its own course and strengthen its independent position within the maritime sector.After the closure of the Vuyk shipyard in Capelle aan den IJssel in 1979, marking the end of all shipbuilding activities, former employees established a new company: Vuyk Engineering and Trading. Founded on the principles of technical know-how combined with experience in cost calculation…
Maersk to Spin Off Svitzer
Denmark's A.P. Moller-Maersk said on Thursday it will spin off its towage and marine services activities and plans to list the new company on the Nasdaq Copenhagen stock exchange.Maersk has sought to streamline its business in recent years, spinning off oil rigs and other units that did not fit with its core shipping and logistics operations.The anticipated first day of trading for the shares of the new company, to be called Svitzer Group, is on April 30, Maersk said as it reported…
Maersk Enters Deal for Half a Million Tonnes of Green Methanol Annually
Maersk on Wednesday announced it had entered into the shipping industry's first large-scale agreement for green methanol from China's Goldwind, and said production of green methanol was high on the political agenda in China.Shipping industry leader Maersk is investing in green fuels to power its fleet as it strives to reach net-zero emissions by 2040, while the shipping industry, responsible for 3% of global greenhouse gas emissions, aims for net-zero emissions by 2050."There's a lot of activity in China in this field for sure.
Thyssenkrupp, Wilhelmsen Create 3D Printing Firm of Maritime & Offshore Sectors
Wilhelmsen and Thyssenkrupp announced on September 29 their joint venture company, Pelagus 3D, marking the entry of a new player into global maritime and offshore services market."Pelagus 3D envisions to be the largest one-stop, on-demand digital manufacturing partner for the maritime and offshore industries. It uses Additive Manufacturing (AM) or 3D printing to deliver maritime spare parts more efficiently in terms of time and cost, allowing customers to ensure their vessels’ seaworthiness and keep their operations moving on schedule…
Shipping Rivals CMA CGM, Maersk to Collaborate on Green Fuels
Container shipping giants CMA CGM and Maersk said on Tuesday they will cooperate in efforts to reduce emissions in the sector, including by supporting the use of methanol and aiding research into potential fuels like ammonia. The shipping industry is grappling with which fuels and vessel technology to adopt on a large scale to meet an objective of net zero emissions by around the middle of the century. Danish group Maersk has focused on so-called green methanol and last week announced the creation a new company to produce fuel.
Maersk Sets Up Green Methanol Company
Maersk has teamed up with its majority owner to form a new company to produce "green methanol", the shipping company said on Thursday, as it held a naming ceremony for the world's first container vessel powered by the low-carbon fuel.Green methanol, produced either from biomass or captured carbon and hydrogen from renewable power, can reduce carbon dioxide emissions from container ships by 60% to 95% compared with conventional fossil fuels.With more than 100 container vessels capable of sailing on methanol on order…
New Company Will Combine Crowley and SEACOR Jones Act Tank Vessel Fleets
U.S. maritime companies Crowley and SEACOR Holdings' Seabulk Tankers have created a new joint venture that combines their liquid energy and chemical transportation vessels, operations and related services into a new, independent U.S. Jones Act service provider.The new company, Fairwater Holdings, will serve the U.S. domestic market with vessels and marine transportation solutions across the petroleum and chemical trades, as well as related third-party ship management services. It will include 20 oceangoing, articulated tug-barges (ATB) and 11 tankers, many under long-term charter.
PowerX Unveils 'First-ever' Battery Tanker
Japan-based company PowerX has unveiled the detailed design of the first-ever ‘Battery Tanker’ at an exhibition in Imabari City, Japan. The inaugural ship “X” aims for completion by 2025, with domestic and international field testing planned to start in 2026. This electric propulsion vessel will be 140 meters long and will be equipped with 96 containerized marine batteries, providing a total capacity of 241MWh. "The onboard battery system is based on our proprietary module design, featuring safe and reliable lithium iron phosphate (LFP) battery cells that ensure a lifespan over 6,000 cycles.
Marine Power - CEO in Focus: Chris-Marine’s Jens Groth
Malmö, Sweden-based Chris-Marine is long-tenured in the business of keeping engines running smoothly, efficiently. Led by its energetic young CEO Jens Groth, this 60-year-old- company finds itself in transition: firmly rooted in its traditional business of creating the tools and technique to keep commercial ship engines running smoothly, but at the same time transitioning its revenue to include services, particularly as ships at sea increasingly run with fewer, less experienced crew.
Bourbon and Horizon Join Forces to Provide Offshore Vessel Services in North Sea and Canada
Bourbon and Horizon Maritime have created a new joint venture that will offer marine services and operations in the North Sea and Canadian offshore markets.Incorporated in Norway, the new company is called Bourbon Horizon, and, according to a press release issued Thursday, it will become "a new leader in offshore operations in the harshest environments."It will be strategically positioned in Fosnavåg (Norway) and St. John’s (Newfoundland and Labrador, Canada), with a base fleet of "seven modern and capable offshore support vessels."The fleet includes five platform supply vessels…
New Company: Lehmann Marine Offers COBRA Battery System
With the founding of Lehmann Marine, a subsidiary of Höpen GmbH, a new supplier of innovative maritime products such as the COBRA battery system has entered the maritime market in 2023.The COBRA (Compact Battery Rack) battery system, which is freely scalable and tailored to maritime requirements, has several references in the shipping industry for the hybridization or electrification of vessels. Initially developed by Becker Marine Systems, COBRA has now been incorporated into Lehmann Marine, which was founded on January 1, 2023.
Soncini Returns to Help Lead Maritime IT Company
Giampiero Soncini, former officer of the Italian Navy and a retired leader in the maritime IT sector, returns to the helm via his appointment as MD of Oceanly, a new company established in December by Esa Group, following its acquisition from Arribatec of a business unit, formerly of IB srl, which develops and supports "Performance", a software dedicated to the monitoring of ship performance and the control of related emissions.To fuel the growth, Oceanly will have two MDs; alongside Soncini…
Two Offshore Drilling Firms Set to Merge
Offshore drilling firms Seadrill Limited and Aquadrill (ex-Seadrill Partners) on Thursday announced a definitive merger agreement under which Seadrill will acquire Aquadrill in an all-stock transaction. When the transaction is completed, Seadrill shareholders and Aquadrill unitholders will own 62% and 38% of the common shares in the new company, respectively. Based on Seadrill's 30-day volume-weighted average share price of US$31.25 on the NYSE as of December 22, 2022, the deal…
ABS Launches Maritime Software Firm ABS Wavesight
As digitalization in the maritime sector gains speed, the American Bureau of Shipping (ABS) has launched a new maritime software as a service (SaaS) company called ABS Wavesight, to effectively consolidate all digital products under one roof, offering ship owners a one-stop-shop for it’s A-to-Z digital solutions.In an interview with Maritime Reporter's Greg Trauthwein, Paul Sells, the CEO and the president of the newly formed ABS Wavesight provided the rationale behind the ABS decision to launch the new company.He said: "...ABS has been for over 160 years…
Zero-C Offshore: A New UK Firm Aiming to Address ‘Chronic’ FIV Shortage
The global offshore wind industry is staring down a potential shortage of foundation installation vessel capacity. A new UK company led by former offshore drilling executive Jon Oliver Bryce intends to help tackle this challenge as the industry’s first pure-play foundation installation vessel (FIV) firm.The number of planned offshore wind projects globally is growing, spurred by green targets and a shift away from Russian oil and gas. This growth, alongside a shift toward the next generation of larger offshore wind turbines…
'Carbon Free' Platfom Supply Vessel Firm Launched in Norway
Norway-based company Amon Maritime has launched Amon Offshore - a new company focused on the offshore oil and gas market – with plans to operate carbon-free platform supply vessels. The ship has already received approval in principle from DNV and preliminary flag approval from the Norwegian Maritime Authority, Amon Maritime said. Amon Offshore has been created to build, own and operate a fleet of ammonia-powered supply ships for the Norwegian Continental Shelf. "The ships have been developed to meet oil companies’ current and future offshore logistics needs…
Sembcorp Marine to Buy Keppel Offshore & Marine for $3.2B, Scraps Merger Plan
Singapore's Sembcorp Marine (Sembmarine) scrapped a deal to merge with Keppel Corp's offshore and marine unit and form new company, in favour of directly buying the unit for S$4.50 billion ($3.19 billion), the Temasek-backed oil rig builder said on Thursday. The new structure also lowers the value of Keppel's unit by S$378 million from the S$4.87 billion valuation it got according to the terms of the previous agreement struck in April, Sembmarine said. This deal gives Sembmarine's shareholders a bigger stake –– of 46% stake…
Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices
Russia announced on Friday a decree that seizes full control of the Sakhalin-2 gas and oil project in the country's far east, a move that could force out Shell and Japanese investors and adds another bullish factor to prices in a tight global LNG market.The order, signed on Thursday, creates a new firm to take over all rights and obligations of Sakhalin Energy Investment Co, in which Shell SHEL.L and two Japanese trading companies Mitsui and Mitsubishi hold just under 50%. Japanese…
Greensea Acquires C-2 Innovations' Line of Seafloor Crawling Robots
Greensea Systems today launched Bayonet Ocean Vehicles, a new company created to develop, manufacture, and distribute a line of amphibious robots recently acquired from C-2 Innovations Inc.The deal includes the acquisition of the IP and inventory of C-2 Innovations’ crawling robot product line. The robots have been rebranded and are launched to market as the Bayonet 150, Bayonet 250, and Bayonet 350 vehicles.Bayonet joins the Greensea group of companies as an independent entity managed by the Greensea Executive Team.
Continued Investment Strengthens Key US Midwest Ports
More than a half a billion dollars in recent, current or expected improvements at three Midwestern ports will strengthen these facilities and reinforce their important roles in the global freight network. The significant investments at Port KC, America’s Central Port, and Kaskaskia Regional Port District, along with new infrastructure funding recently secured, will spur an increase in barge services and deliver cost efficiencies that drive profitability for the industry. Port KC is located on the Missouri River.
Scana Records Strong Growth
Scana reports that it has more than doubled revenues and EBITDA in the first quarter. Revenues increased by 126 percent to $21.2m (NOK 208 million) compared to the same period last year, while EBITDA was up 140 percent to $1.63m (NOK 16 million), with the acquisition of PSW Group being the main driver.“Scana have transitioned to a new company. The acquisition of PSW Group closed on 11 January 2022, and Scana now forms a driving force for the green shift in the ocean industries,” says Styrk Bekkenes, CEO of Scana.“Our ambition is to reach $173m (NOK 1.7 billion) in revenues in 2025.
From Cruise Ships to Condos, Meyer Group JV Aims at the Floating Real Estate Biz
MEYER Group, aleading shipbuilding consortium with three modern, large-scale shipyards in Europe, has joined forces with ADMARES Marine, a leader in floating real estate, to form a new joint venture. Headquartered in Turku, Finland, MEYER Floating Solutions is focused on developing and manufacturing high quality floating real estate.“MEYER Group had recognized great potential in the floating solutions business and identified ADMARES Marine as the market leader in this developing industry.
Ballast Water Management: Techcross Reports Record Start to 2022
Despite the prolonged COVID-19, Techcross reports that it has kicked off the new year with a new record in amount of order, FAT and shipments in January 2022.As of the third week of January, Techcross sold Ballast Water Management Systems (BWMS) for 81 ships, representing already its largest January amount of order, $23 million, expected to exceed $26 million, which was the largest monthly order in 2021.In addition, Techcross finished Factory Acceptance Test (FATs ) for 93 ships also set a new monthly record for the company…