Yara Acquires Majority Stake in Green Tech Marine

Posted by Eric Haun
Monday, April 07, 2014
Image: GTM

Yara International will expand its emissions control business by acquiring a majority 63% stake in Green Tech Marine (GTM), a sulphur oxide (SOX) scrubber supplier to the marine industry.

“New International Maritime Organization (IMO) regulations are being implemented, and combining GTM with our existing Nitrogen Oxide (NOX) portfolio will help the maritime industry cleanse their emissions and be compliant,” said Yves Bonte, Senior Vice President and head of Yara’s Industrial Segment.

Within the next ten years, ships worldwide will need equipment to comply with the latest IMO exhaust gas emission rules. Starting January 1, 2015, SOX Emission Control Areas will be established in the North Sea, the Baltic Sea, The North American Atlantic Coast and in the Caribbean. According to the DNV “Future Development in Maritime Shipping” report, more than 15,000 ships are expected to be equipped with SOX scrubbers by 2020, representing a potential market of roughly €1 billion. GTM, a subsidiary of Marine Global Group, is an independent provider that has developed the smallest footprint SOX scrubber that can be retrofitted into any seagoing vessel.

“The synergies we have with Yara on technology development and market reach for maritime business, as well as their global reach, will allow us to take this business a step further and establish ourselves as a leading player in the global market,” said Peter Strandberg, CEO of Green Tech Marine.

The GTM investment is Yara’s third investment targeting technologies on emissions to air. Adding these technologies to Yara’s global reach and delivery system advances the company’s position in the emissions control business, now targeting the marine sector.

“In combining our existing portfolio of NOX technologies with SOX technologies, as well as with related supply of nitrogen based chemicals and services, we bring a unique total solution to the marine segment. This improves our delivery of a profitable business solution to harmful emissions to air,” Bonte said.

Certified by Det Norske Veritas (DNV), the GTM technology is a single stream technology which can be installed on ships instead of silencers. Easy to retrofit, it also benefits from a small physical footprint, and has already been selected by several companies, including Royal Caribbean Cruise Lines and Norwegian Cruise Lines.

Sulphur oxides cause a wide variety of health and environmental impacts. With asthma being the largest chronic disease of children in the Western world, authorities are addressing this issue through legislation. By using GTM scrubbers, ship owners can continue to operate on heavy fuel oil instead of more costly marine gas oil, while staying below the strict IMO requirements regarding sulphur emission.

yara.com

greentechmarine.com
 

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Rosneft and NADL Sign Exchange of Assets Deal

Rosneft, Seadrill Limited and North Atlantic Drilling Limited (NADL) signed a Framework Agreement that envisages long-term cooperation in the sphere of oilfield development projects.

Norman Murray, Petrofac Chairman Quits

Petrofac, the international oil & gas facilities service provider, today announces that Norman Murray, who has been Chairman since May 2011, has resigned from

MN 100: AEP River Operations

16150 Main Circle Drive, Suite #400 St. Louis, MO 63017 Tel: (636) 530-2100  Email: info@aepriverops.com Website: www.aepriverops.com President: Keith Darling The

Environmental

Japanese Technology Helps Farmers to Changes in Climate

The Japanese technology firms are using their experience in saving energy and in cloud technology to help farmers cope with changes in climate, cheaper imports and declining labor.

MARAD: Total Fuel Cycle Study for Natural Gas

The Maritime Administration (MARAD) released a study that evaluates total fuel cycle emissions for natural gas versus conventional marine fuels. Results showed

Caribbean Storm Likely to Strengthen, Veers Away from US

A low-pressure system moved over Puerto Rico on Friday and is expected to veer northeast away from the U.S. East Coast but still has an 80 percent chance of forming

News

Japanese Technology Helps Farmers to Changes in Climate

The Japanese technology firms are using their experience in saving energy and in cloud technology to help farmers cope with changes in climate, cheaper imports and declining labor.

Sinopec's Profit up at 32.5 billion yuan in 1H, 2014

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.

Kuwait to Boost Oil Exports to China

Kuwait plans to increase the volume of crude oil exports to China to 500,000 barrels a day (bpd) in three years, an executive at the state-run Kuwait Petroleum Corporation (KPC) said Saturday.

Marine Equipment

Polynesian Shipping Sold to Neptune Pacific Line

The Board of Polynesian Shipping Line Limited, Apia informed   that the business and the Company’s associated investments have been sold to Neptune Pacific Line Limited.

EBDG Completes Repower of COLUMBIA

Elliott Bay Design Group (EBDG), a leading naval architecture and marine engineering firm with offices in Seattle, New Orleans and Ketchikan, Alaska today announced

Mexican Navy Delegation Visits NSSA

The U.S. Navy reported that its Norfolk Ship Support Activity (NSSA) welcomed the Mexican Navy Delegation to Building CEP-200, Naval Station Norfolk, Aug. 21 for

Mergers & Acquisitions

Mexican Alfa Tie-up with Pemex for Onshore Exploration

Mexican conglomerate Alfa He is interested in participating in association with the state oil company Pemex Exploration Projects in fields on earth, aunque también

Polynesian Shipping Sold to Neptune Pacific Line

The Board of Polynesian Shipping Line Limited, Apia informed   that the business and the Company’s associated investments have been sold to Neptune Pacific Line Limited.

CEVA Expands Presence in Los Angeles Market

CEVA Logistics, one of the world’s leading supply chain management companies, today announced the expansion of its Los Angeles (LAX)/Torrance freight management operation.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2003 sec (5 req/sec)