Marine Limited News

GE Vernova’s Power Conversion business was awarded a contract by Singapore shipbuilder ST Engineering Marine Limited to supply its Ship’s Electric Grid with Integrated Full Electric Propulsion (IFEP) equipment for the Republic of Singapore Navy’s six-ship Multi-Role Combat Vessel (MRCV) program.The six MRCVs will be the first IFEP-powered vessels for the Republic of Singapore Navy (RSN) and will replace its fleet of mechanical drive Victory-class missile corvettes, which have been in service since 1989. Delivery of the electric propulsion systems for the new ships is planned over the next 10 years.GE Vernova’s Ship’s Electric Grid includes all generators…

Diana Shipping on Monday announced it has taken delivery of the DSI Andromeda (formerly STH Tokyo), a 2016-built Ultramax dry bulk vessel. The 60,309 dwt vessel is one of nine modern Ultramax dry bulk vessels that the company entered into an agreement to purchase in August 2022.The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with ASL Bulk Marine Limited, for one of its Ultramax dry bulk vessels, the DSI Polaris. The gross charter rate is $13,100 per day, minus a 5% commission paid to third parties, for a period of minimum 18 months to maximum 20 months. The charter commenced on November 12, 2022.The DSI Polaris is a 60,404 dwt Ultramax dry bulk vessel built in 2018.

Dry bulk shipowner Diana Shipping Inc. on Monday announced it has entered into separate time charter contracts for three of its vessels.The company said it will charter its vessel Amphitrite to Cobelfret S.A. for $14,250 per day, minus a 5% commission paid to third parties, for a period until minimum December 1, 2023 up to maximum February 15, 2024. The charter is expected to commence on November 10, 2022. The Amphitrite is a 98,697 dwt Post-Panamax dry bulk vessel built in 2012.Diana will also charter its vessel Crystalia to Reachy Shipping (SGP) Pte. Ltd. for $12,500 per day, minus a 5% commission paid to third parties, for a period until minimum September 1, 2023 up to maximum October 15, 2023. The charter is expected to commence on November 8, 2022.

Dry bulk shipowner Diana Shipping on Thursday announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Speed Logistics Marine Limited, for one of its Panamax bulk carriers, Selina, a 75,700 dwt vessel built in 2010.The gross charter rate is US$22,000 per day, minus a 5% commission paid to third parties, for a period until minimum April 15, 2023 up to maximum June 20, 2023. The charter is expected to commence on Friday.The employment of Selina is anticipated to generate approximately $6.56 million of gross revenue for the minimum scheduled period of the time charter, Diana said.

Canada’s Irving Shipbuilding has cited Thordon Bearings as one of a number of partners playing a pivotal role in ensuring the Royal Canadian Navy’s (RCN) new Arctic and Offshore Patrol Ships (AOPS) are capable of environmentally sustainable operations.The first two in a series of six twin-screw vessels entrusted to Irving Shipbuilding, have been put to water with Thordon’s COMPAC water lubricated propeller shaft bearings, which the shipbuilder says are “environmentally progressive” resulting in “zero risk of pollution”.In a recent article…

Crew transfer vessel specialist Northern Offshore Services (N-O-S) has expanded its fleet with two vessels SURE Diamond and SURE Dynamic from Sure Wind Marine Limited. The company's offshore support vessel fleet now stands at 41 vessels. The two vessels are being renamed to M/V Master and M/V Mariner and will be part of the M-Class series, now four vessels in the series.They will continue their current operations on offshore wind farms in Germany, Northern Offshore Services said Thursday.The M-Class series are 27 M high-speed offshore support vessels…

Greece-based provider of seaborne transportation for containerized cargoes Euroseas  announced that it has entered into agreements to acquire four 4,253 teu containerships built in South Korea, three in 2009 and one in 2008.The owner and operator of container carrier vessels said in a press release that the vessels are being acquired from companies controlled by Synergy Holdings Limited for a total consideration of approximately $40 million.The acquisition will be financed by bank debt, existing funds of the Company and $6 million raised in private placements.Euroseas  will also assume the charters the vessels are currently under. As part of the transaction…

Leading marine asset company Bibby Marine Ltd has appointed Helen Samuels as Chief Executive Officer to lead the company into its next phase of development.Helen Samuels will join the Group in January 2020 from Network Rail, where she currently holds the position of Engineering Director for their $6.4bn pa national capital program. Prior to this Samuels worked as Engineering Director for United Utilities, and also held a series of senior positions at Halcrow/CH2MHill (now Jacobs) including Operations Director…

Singapore-listed operator of offshore support vessels PACC Offshore Services Holdings (POSH) has agreed to acquire the 50 per cent stake held by Sembcorp Marine (SMM) in harbour services provider Pacific Workboats Pte Ltd (PWPL) for over US$679,400 in cash.PWPL is a 50:50 joint venture between POSH and Dolphin Shipping Company, a 100% owned subsidiary of Sembcorp Marine Limited. The 50% stake actually belongs to Dolphin. PWPL offers harbour services in Singapore and across the region.The Acquisition is expected to complete by end 2019, following which PWPL will cease to be a joint venture of POSH and will become a wholly-owned subsidiary of POSH…

Canada’s marine services provider McKeil Marine Limited has acquired Topaz, an IMO 2, ice class 1A chemical tanker.With this newest addition to its diversified fleet of tugs, barges, workboats and vessels, including bulkers, cement carriers, and tankers, McKeil expands its offering and is poised for additional growth.The Panamanian-flagged Topaz built in 2009, measures 137 metres by 20 metres, with a DWT of 13,965 metric tonnes. The vessel was acquired to service the needs of McKeil’s customer Petro-Canada Lubricants Inc. (PCLI).Her journey originated in Singapore and continued to Malaysia where she loaded a cargo for delivery to the Mediterranean.

Thai shipbuilder Italthai Marine Limited in July hosted a keel laying ceremony for a new 32-meter tug that it is building for the Royal Thai Navy (RTN).The builder was awarded the construction contract for this second RAmparts 3200 tug earlier this year after delivering the first, Panyi 857, in 2016.Designed by Canadian naval architect and marine engineering firm Robert Allan Ltd., the tugs are built for handling large navy vessels and submarines coming in and out of port, as well as supporting oil recovery operations…

At the end of June, Damen Shipyards Group along with Ampelmann and VEEM hosted a Marine Access Event, where over two days delegates from both the offshore renewable and non-renewable industries had the opportunity to sail from IJmuiden in the Netherlands to experience the latest in marine access solutions. The demonstrations took place on board a Damen Fast Crew Supplier 5009 equipped with an Ampelmann L-type gangway and two VEEM VG 260SD gyro stabilizers.This combination of VEEM gyro stabilizers…

Ampelmann has secured two contracts with vessel owner L.A.T.C Marine Limited, on behalf of ExxonMobil, for the supply of two L-type gangway systems, offshore Nigeria. Following successful sea trials of the L-type gangway system, the integrated solution was approved for operations. Vessel owner L.A.T.C Marine has installed the personnel transfer system on its Damen FCS-5009 Fast Crew Supplier vessel Dijama for in field operations with ExxonMobil. The L-type is particularly suited to small, crew change vessels and allows a continuous flow of up to 50 personnel every five minutes. Gbolahan Shaba, CEO, L.A.T.C. Marine, said: “We are proud to have partnered with Damen and Ampelmann in delivering one of the most innovative solutions for the Nigerian upstream industry in recent years.

On January 19, 2018, Italthai Marine Limited of Thailand signed a contract with the Royal Thai Navy (RTN) for the construction of a sister ship to the Robert Allan Ltd. designed RAmparts 3200 tug Panyi 857. Italthai have built three Robert Allan Ltd. tugs previously for Thailand, Panyi 857 built in 2016 and a pair of RAmparts 2800’s for The Port Authority of Thailand, Tarua 120 and Tarua 302 both built in 2012. Hull form and all equipment are the same as Panyi 857 with enhanced fendering system to handle the navy’s new submarines. Purpose of the tug includes handling large navy vessels and submarines during in or out port, supporting of oil recovery operation, firefighting operation and other duties.

CEMEX UK Marine Limited has placed an order for the first Damen Marine Aggregate Dredger (MAD). The vessel, which will be built at Damen Shipyards Galati, in Romania, is designed to extract sand and gravel from the sea bed up to depths of 55 meters, including in the challenging conditions experienced in the North Sea. Damen said the MAD is the result of extensive market research and customer consultation. A new, future-facing vessel of this type is aligned with an aggregate industry faced with an aging fleet of vessels and an increased focus on marine activity.

Wärtsilä has set out to accelerate new business ideas using a collection of “Digital Acceleration Centers” (DAC) scattered around the globe. The first DAC in Helsinki has been running in beta for several months and was officially launched today, and will be followed by the second to open in Singapore in December, as well as one in Central Europe and one in North America anticipated during 2018. Additional “pop-up” DACs will be tested with customers at other locations. Wärtsilä said opening the DACs is part of its digital transformation, which aims to help the company shift toward a data-driven, insights led, smart technology. Wärtsilä's Chief Digital Officer, Marco Ryan, explained, “The Digital Acceleration Center is all about getting business outcomes at pace.

Wärtsilä has acquired Guidance Marine Limited, a technology leader within the marine industry for sensor solutions relating to dynamic positioning and other vessel control systems, such as collision avoidance and remote control operations. Wärtsilä said it is committed to providing technologies needed to enhance “intelligent” shipping, whereby digital solutions will improve the efficiency, safety and profit earning capabilities. According to Wärtsilä, the acquisition of Guidance Marine will enhance its capabilities in the areas essential for more intelligent vessel navigation such as situational awareness and near-field measurement.

Keppel Corporation Limited (the “Company” or “KCL”) refers to its announcement on 2 August 2013 on the construction contract ("Construction Contract") entered between Keppel FELS Limited (“KFELS”), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (“KOM”), and Parden Holding S.R.L. (“Parden”) for the construction of a KFELS B Class jackup rig (the “Jackup Rig”). Following Parden’s failure to take delivery of the Jackup Rig and make payment for the balance 80% of the contract value, among others, KFELS has today, following discussion with the guarantor of Parden’s obligations under the construction contract, entered into a Settlement Agreement with the guarantor.

Otto Marine Limited, an offshore marine company specializing in building complex offshore support vessels, ship chartering and offers specialized offshore services, has announced that its wholly-owned subsidiary, Otto Marine Shipyard Pte Ltd, has entered into a Memorandum Of Understanding (MOU) with a port operator to explore the potential development of a fabrication and marine facility. The proposed development is strategically located in close proximity to Singapore and to the South East Asia region oil and gas fields. Otto Shipyard currently operates a 65 hectare shipyard through its sister company PT. Batamec. The Proposed Development will use a fraction of the yard space and is not expected to cause any disruption on PT. Batamec's existing shipyard facilities.

Singapore-based Otto Marine Limited has signed a  Memorandum of Agreement to sell a Work Maintenance Vessel known as SOC  ENDEAVOUR to an unspecified party through  its wholly owned subsidiary,  Koi  Marine Limited.    The  sale of the vessel  will reduce its inventory on hand and  is part of  the ordinary course of business of the shipyard business.   “The sale of the vessel will reduce its inventory on hand and is part of the ordinary course of business of the shipyard business,” offshore services provider Otto Marine said.    Financial details and the name of the buyer were not disclosed.   The sale is expected to have a positive impact on its earnings for the financial year ending 31 December 2016.

After last week's media reports that an undisclosed party was looking to buy Singapores offshore marine company Otto Marine Limited, the company said that it received a proposal from RHB Securities Singapore Pte Ltd (RHB). RHB is the financial adviser to the potential offer. The name of the potential party who is looking to buy the company is undisclosed. If the acquisition materialises, Otto Marine may be the first in the struggling sector to be privatised. "On Sunday, June 5 2016, (Otto Marine) informed RHB that if no formal proposal is received by 5pm on June 6, pursuant to Chapter 13 of the Listing Rules, the company will proceed to lift the trading halt on its shares at the commencement of trading on June 7.

Go Offshore,  wholly-owned subsidiary of Otto Marine has entered into an agreement for two long-term anchor handling tug supply (AHTS) charter contracts worth USD25.2 million with a large oil and gas company. The two contracts are in respect of two 16,000 brake horsepower (bhp) large anchor handling tugs supply vessels. None of the Directors or controlling shareholders of the Company has any direct or indirect interest on the above transaction other than through their respective shareholding interests, direct or indirect in the Company, Go Offshore or Go Marine. The transaction is expected to have a positive impact on the consolidated net tangible assets per share or earnings per share of the group for FY15.

The Royal Thai Navy has ordered a new 32-meter tug from shipbuilder Italthai Marine Limited of Thailand, announced the vessel’s designer, Robert Allan Ltd. Italthai Marine, whose Managing Director Wirat Chanasit inked the construction deal with Navy Commander Admiral Krisorn Chansuvarnich on September 17, has entered a contract with Robert Allan Ltd. for its RAmparts 3200 Class Tug design, part of the popular RAmparts Series. According to the designer, the Z-drive diesel-powered harbor tug is optimized for ship-assist service and coastal towing.