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.
MOL PLUS Opens UK Desk in London
MOL PLUS, the corporate venture arm of Japanese shipping company Mitsui O.S.K. Lines, Ltd. (MOL), announced it has expanded its operations outside of Japan with the opening of a London location in July.The MOL PLUS UK Desk will be operated by the New Business Project Team members at MOL (Europe Africa) Ltd. It will aim to build investment and collaborative opportunities in shipping, primarily targeting new technologies and businesses focused on the environment and renewable energy…
Recovery, Resilience and Demand Shifts to Drive Inland Waterway Cargo Flows
Waterway traffic is coming back. November 2021 saw 52.1 million tons moving on the U.S. inland waterway system, the highest monthly tonnage since October 2019, a few months before the onset of the COVID-19 pandemic, and the shutdowns and stoppages of early 2020. Flows estimated by the Bureau of Transportation Statistics (BTS), part of the U.S. Department of Transportation, based on data from the U.S. Army Corps of Engineers (USACE) show a 25% rise from June 2020. Data in a presentation by The Waterways Council Inc (WCI)…
Strong Demand for Police and Fire Boats with More Orders on the Horizon
Today, despite an abundance of market challenges and supply chain headaches, many of America’s police and fire boat builders are in possession of the shipyard holy grail: a healthy backlog.Dave Hunt, business development and project manager for Theodore, Ala. based Silver Ships said vessel orders from police and fire agencies have been on the rise and that the expectation is that this trend will continue. “Between vessels delivered and in production, we have seen a year over year increase steadily since 2017; particularly the last two years.
China Looks to Lock in US LNG as Energy Crunch Raises Concerns
Major Chinese energy companies are in advanced talks with U.S. exporters to secure long-term liquefied natural gas (LNG)supplies, as soaring gas prices and domestic power shortages heighten concerns about the country's fuel security, several sources said.At least five Chinese firms, including state major Sinopec Corp and China National Offshore Oil Company (CNOOC) and local government-backed energy distributors like Zhejiang Energy, are in discussions with U.S. exporters, mainly Cheniere Energy and Venture Global…
Shipbuilding and The Navy Of Tomorrow
In the United States, it is a frustrating time to be in the government shipbuilding business. Even though America depends upon maritime commerce and faces growing security risks at sea, shipbuilding is just not a major national focus.Up to now, shipbuilders have had it pretty good. For the past several years, big naval shipbuilders have enjoyed steady growth and strong performance. In 2020, Huntington Ingalls Industries enjoyed record revenue of $9.4 billion, an 8.5% margin and gave a quarter billion back to shareholders in dividends and stock buybacks.
“It’s my dream job”: One-on-one with Søren Andersen, CEO, StormGeo
When Søren Andersen took the helm at StormGeo in September 2019, it was the self-confessed “dream job” for the 23-year shipping industry veteran. Andersen came with leadership experience from the likes of A.P. Møller – Maersk, APL, and Rickmers, among others, bringing to StormGeo inside experience on how ship owners can modernize practices and procedures to quantifiably cut emissions and fuel costs.“What I saw in StormGeo was a company with the opportunity to enrich the shipping industry…
Wakashio Spill Highlights Importance of Adopting Latest International Legal Instruments
The ongoing oil pollution incident from the grounded 203,000 DWT bulk carrier MV Wakashio is threatening an ecological catastrophe around the Indian Ocean island of Mauritius, endangering corals, fish and other marine life already under threat from climate change (IPCC 2018).In addition, it risks bringing devastating consequences for the economy, food security, health and tourism industry. Tourism in Mauritius - a popular destination for its pristine beaches - reportedly contributed about $1.6 billion to its economy during the last year…
Kongsberg Digital Acquires COACH Solutions
Kongsberg announced Wednesday it has acquired Danish software company COACH Solutions, expanding the Norwegian maritime technology company's range of solutions for vessel performance and monitoring.The newly rebranded KONGSBERG COACH Solutions will be integrated within Kongsberg Digital’s Maritime Digital Solutions portfolio, supplying vessel operators, owners, pool managers and technical managers with a suite of software tools for vessel performance, weather routing and noon…
Ship Repair Market to Reach $40Bn by 2026
Global ship repair and maintenance services market is expected to grow from USD 18.89 Billion in 2018 to USD 39.93 Billion by 2026 at a CAGR of 7.04% during the forecast period from 2019-2026.According to report published by Fior Markets, the key contributing factors for the market growth are increase in the demand for new ships and activities, shortening of supply chains in ship repair and maintenance services, increased seaborne trade against the backdrop of recent economic boom, increase in the production of vessels.The bulk carriers section is anticipated to remain leading in the global ship repair and maintenance services market with USD 4.12 billion.
RMC to Build Ferries for TT-Line
Finnish shipbuilding company Rauma Marine Constructions (RMC) and Australian TT-Line Company have signed a Memorandum of Understanding on two fast car and passenger ferries.The Project will have an impact on employment totalling around 3,500 person-years, and the construction work will start at the beginning of 2021, said a press release from the company specialized in constructing car ferries, icebreakers and naval vessels.”We are proud and grateful of the trust TT-Line Company has shown us. We believe that with this new partnership, we can serve our customer in a way that results in a world-class car and passenger ferry solution for TT-Line Company’s business.
@ Glosten: “Crazy ideas are not off the table”
From racing scows on the inland lakes of Minnesota to graduating from the United States Merchant Marine Academy to taking the helm of Glosten, Morgan Fanberg has led a ‘maritime life.’ We caught up with Fanberg in his Seattle office to discuss the path ahead for one of the U.S.’ most progressive and respected naval architecture and marine engineering firms.Morgan Fanberg has always been a ‘maritime guy,’ but his early maritime aspirations centered on racing sailboats. “I went to St.
It’s Time to Upgrade to a Marine Evacuation System
As domestic traffic from coast-to-coast continues to worsen, ferry operators are seeing a steady growth in passenger demand. As passenger demand grows, so does the demand for efficiency and hybrid technology to be incorporated into fleets. But what innovations support a fleet’s number one priority – safety? Will efficiency and the latest green technologies support these critically important vessels in an emergency situation? Is the crew aware of how much time they have to evacuate all passengers?Traditional ferry evacuation systems require passengers to be loaded onto lifeboats on deck…
UK to Account for 35% Offshore Wind in Europe
The UK will account for 35% of the growth in offshore wind over the next five years, followed by the Netherlands and Germany, said , according to WindEurope’s new ‘Wind Energy Outlook to 2023’.In the next five years 22 GW of wind energy capacity will reach the end of its normal operational life (20 years). Most of this will get a lifetime extension. Around 2 GW will be repowered.And another 2 GW will be fully decommissioned. Government policy and regulation is still not as supportive of repowering as it should be, it said."If Governments end up producing clear and ambitious National Energy & Climate Plans (NECPs) and they improve the permitting arrangements for wind farms and they keep investing in new grid capacity, then Europe’s wind energy capacity would grow by 88 GW to 277 GW by 2023.
Port Nelson Reports Continued Steady Growth
New Zealand Port Nelson said that continued growth in cargo volume has contributed to the port's delivering an operating profit of $30.5 million for the 2018/2019 financial year.This is an increase of $3.4 million compared to the $27.1 million reported in 2018. Net Profit After Tax, including a $2.6 million increase in the valuation of investment property, was $15.3 million.In consideration of the steady growth of the region’s exports through the port and the promising returns on investments, Port Nelson’s Chair, Phil Lough, announced an additional $800,000 dividend payment would be made to shareholders, this is on top of the full-year…
Marine Hybrid quietly arrives … positioned to explode
Hybrid is not only here, it is growing, and with that growth it will soon reach far beyond coastal applications.For those who were around for the arrival of Y2K, you will remember the anticipation, preparation and perspiration as the maritime world waited for the failure of communications, navigation, security and machinery associated with the digital change of the clock. The forecasts, now historical urban legend, left the world without a digital catastrophe.We wait now for 2020 and the advent of the IMO maritime emissions regulations.
Offshore Wind Energy Market to Grow 20%
Global offshore wind energy market was valued at $2,727 thousand in 2019, and is expected to reach $11,334 thousand by 2025, registering a CAGR of +20% from 2019 to 2025, said a study.The global offshore wind energy market has been set blazing with a number of schemes that have recently began power production, according to Researchnreports. For instance, following the installation of its first 7-MW turbines, Scotland's biggest offshore wind farm has sent power for the first time to the National Grid.The growth of the offshore wind energy market is credited to the cumulative demand for clean energy to reduce carbon releases and the increasing demand for electricity generation with the help of renewable energy resources.
Rebuilding Confidence in Reactivated DP Assets
The offshore energy sector, like any industry, is constantly subject to market cycles. Challenging conditions may lower demand, resulting in a significant number of resources such as offshore support vessels (OSVs) and drillships being deactivated for potentially extended periods. Over time, however, cycles reverse and demand increases for these same assets.Operators reduced expenditures on offshore exploration and production activities, with a subsequent lower demand for these offshore assets, many of which were ultimately deactivated and laid-up (or “stacked”) for extended periods.
41 Flag States Recognize IRClass
The Indian Register of Shipping (IRClass) said that it is now recognised by 41 flag states globally, seeing recent additions in 2018 from the Netherlands, Vietnam, Jordan and Bahrain.Towards the end of 2018, it also received approval from Abu Dhabi National Oil Company (ADNOC), strengthening its offshore portfolio in the Middle East and opened an office in the Kingdom of Saudi Arabia to better service its customers in the region.IRClass claimed in a press release that it continues to record steady growth in its classed fleet, flag recognition and geographical presence, mirroring the shipping industry’s ongoing recovery.With tankers and bulk carriers continuing to dominate IRClass’ tonnage…
LNG Booster for Canada
Canada could increase revenues from exports to Asia by $6.366 billion with the two new major liquified natural gas (LNG) projects in British Columbiaprojects, said a new research report.A new paper by Macdonald-Laurier Institute Munk Senior Fellow Philip Cross, titled BC’s LNG Projects: A Turning Point for Canada’s Energy Industry, makes the case that these two projects will hold considerable benefits.The most important impact could be that greenlighting these projects sends a broader message to investors around the world that Canada is able to undertake these kinds of large projects, Cross argues in the paper.“Canada definitely needs a mega project to succeed to show investors that it is capable of building major resource projects,” writes Cross.
Kitron Signs MASS Nodes Deal with Magseis
Scandinavia's Offshore/Marine electronics manufacturing services company Kitron and Norwegian geophysical company Magseis ASA has entered into an agreement to manufacture Magseis' MASS (Marine Autonomous Seismic System) nodes to support their growth.Magseis, founded in 2009, is specialising in OBS - Ocean Bottom Seismic - acquisition. Magseis has developed their proprietary, autonomous MASS nodes and fully automated handling system, which is used to acquire high quality seismic data for clients. The OBS market is in steady growth and the demand for OBS nodes is increasing.Based on Kitron's experience and capacity, Magseis has awarded Kitron a contract to supply electronics, high-level assembly and system testing of the MASS nodes.
Konecranes to Install Container Cranes in Lithuania
JSSC Klaipedos Smelte in the Port of Klaipeda, Lithuania, has placed a large repeat order with Konecranes for ten Rubber Tired Gantry (RTG) cranes and two Ship-to-Shore (STS) cranes.The delivery of the RTG cranes will be completed in November 2019 and the STS cranes in December 2019. The parties have agreed not to disclose the value of the order.In August 2018 Konecranes signed a contract with JSSC Klaipedos Smelte in the Port of Klaipeda, Lithuania, for the supply of ten Konecranes RTG cranes and two Konecranes STS cranes.JSSC Klaipedos Smelte already operates seven Konecranes RTGs and three Konecranes STSs, and they are very pleased with the high productivity and reliability of the cranes.
4,000th Neopanamax Vessel Transits the Panama Canal
The Panama Canal registered the transit of its 4,000th Neopanamax vessel through the Expanded Canal, underscoring the steady growth of the burgeoning liquefied natural gas (LNG) segment – which began transiting the waterway for the first time following the inauguration of the Expanded Canal.The LNG tanker Maria Energy completed the milestone transit traveling southbound from the Atlantic to the Pacific Ocean on July 29."The steady increase in Neopanamax transits reflect our customers’ confidence in the Expanded Canal…