Atp News

Denmark-based offshore wind developer Ørsted and ATP, Denmark’s largest institutional investor, have teamed up to bring leading offshore construction specialists to Denmark to support their bid for the North Sea energy island.Back in February, Denmark approved the construction of the first of its kind wind energy hub in the North Sea that promises to produce yet unseen amounts of green electricity, in what has been described as the largest construction project in Danish history.The…

Brazil recorded a $19.7 billion maritime trade surplus in the first four months of the year as imports by value fell as the real currency weakened and exports of agriculture goods remained strong, a port operators group said on Monday.The surplus is 14.56% wider than in the same period of 2019 despite the crisis caused by the novel coronavirus, which has disrupted transport systems worldwide, said ATP, which represents Brazilian private-sector terminal operators including miner…

Belgium-headquartered EXMAR Ship Management has selected the LuminUltra Quench-Gone Aqueous (QGA) test kit to monitor the quality of the drinking water produced onboard the LPG FSO NKOSSA II.The decision follows the success of the QGA solution in analysing the quality of the water produced by reverse osmosis aboard accommodation barges operating offshore West Africa.Paul-Philippe Halleux, who is a Technical Superintendent from EXMAR Ship Management’s Offshore Services division, commented: “We cannot emphasise enough the importance of testing the quality of our drinking water on a regular basis. We produce drinking water through reverse…

Danske Bank's largest shareholder, the Maersk family, has ousted the lender's chairman after a money laundering scandal that has also forced out its chief executive.A.P. Moller Holding, which controls about 21 percent of the share capital in the bank, has nominated Karsten Dybvad, who currently heads the Confederation of Danish Industry, to replace Ole Andersen as chairman of Denmark's largest bank.The move is a rare example of Denmark's Maersk family, which controls shipping giant A.P. Moller-Maersk through A.P. Moller Holding, openly flexing its muscles to seek change at one of its investments."Danske Bank requires new leadership and changes to its board to strengthen its position as a leading Nordic bank," Robert Uggla, chief executive of family-owned A.P.

A Danish court on Wednesday sentenced the former manager of OW Bunker's Singapore subsidiary to 18 months in prison after he was found guilty of granting credit outside his mandate, contributing to the bankruptcy of the marine fuel oil supplier.The 2014 bankruptcy of OW Bunker, then the world's leading supplier of marine fuel oil with a 7 percent market share, sent shockwaves through the global shipping industry and left investors and business partners scrambling to cover their losses.The city court of Aalborg said it found Lars Moller…

The Government of Canada is testing aqua-tools’ B-QUA ballast water sampling and monitoring kit for possible use in the Canadian ballast water surveillance program. The program is being led a research scientist from Fisheries and Oceans Canada out of the Great Lakes Laboratory for Fisheries and Aquatic Sciences, in Burlington, Ontario. The research scientist leading the program was also involved in a 2015 study to test the efficiency of various ballast water testing methods onboard the research vessel Meteor on behalf of Germany’s Federal Maritime and Hydrographic Agency (BSH).

A group of 24 Danish institutional investors in OW Bunker has decided to issue a writ against Carnegie and Morgan Stanley, accusing them of misleading investors ahead of the 2014 listing of the now bankrupt marine fuel oil supplier.   The investors, which include two of the largest pension funds in Denmark, ATP and PFA, claim they have suffered a loss of 767 million crowns ($123 million) following investment in OW Bunker shares "on the basis of a prospectus which was insufficient in material aspects".   Morgan Stanley declined to comment, while Carnegie said it did not know the details of the alleged claim.   Reporting by Stine Jacobsen

Institutional investors to sue Morgan Stanley, Carnegie. A group of institutional investors in OW Bunker said they plan to sue Morgan Stanley and Carnegie for about $80 million, accusing the two investment banks of misleading them ahead of the 2014 listing of the now bankrupt marine fuel oil supplier. Denmark's OW Bunker was valued at $1 billion when it floated in March 2014, but the company filed for bankruptcy in November that year after suffering hedging losses of almost $300 million, sending shockwaves through the global shipping and oil trading industry. "We are planning a lawsuit against the two investment banks involved in the OW Bunker IPO," Erik Bomans, partner in Deminor Recovery Services representing 30 institutional investors, told Reuters on Thursday.

aqua-tools, the specialist in water microbiology, has delivered the first in series of 30 state-of-the-art Rapid ATP Ballast Water Monitoring Systems to SGS Group. The Geneva-based testing and certification body has agreements in place with several countries to inspect and monitor the treated ballast waters of vessels entering their ports, the latest of which is The Kingdom of Saudi Arabia. Vessels discharging ballast water in Saudi Aramco ports will be required to present a ballast water report and sample from August 16, 2017. Dr.

The cloud is for “device-agnostic young slashers,” said Trond Bjorseth, marketing manager, of Oslo-based cloud consultancy, Tieto. His company offers an information management tool for subsea projects and “repositories” for the shipping sector’s operations. With Tieto you can get “one big happy project room,” although he admits at least three suppliers offer something similar. For its own future “slashers,” Glasgow-based ship manager Norbulk Shipping opted instead for Google Cloud Technology Solutions…

A group of 26 institutional investors has issued a summons against bankrupt Danish ship fuel supplier OW Bunker in the latest stage of a legal campaign for allegedly misleading them in its 2014 initial public offer (IPO). The investors had said last year they would sue Bunker, private equity fund Altor and the company's board over their responsibility for the company's flotation prospectus, after the company filed for bankruptcy just months after listing. The investors, which include two of the largest pension funds in Denmark…

Turner Designs, along with scientists from around the world participated in a research cruise aboard the RV Meteor, a vessel owned by the Federal Republic of Germany through the Ministry of Research and Technology (BMFT) and funded by the German Research Foundation (DFG). The goal of this cruise was focused on ballast water sampling techniques and protocols. Various instruments were used to test collected ballast water enabling researchers to determine efficiency for the various sampling techniques employed.

Wondering What to Trim? Look to the skies: billions in offshore savings may be orchestrated from the back office. For many managers (and analysts), sales, general and administrative costs, or SG&A, are ordinary accounting lines on an offshore services company’s ledger. Less ordinary — less known — is that a sizable chunk of the “A” in SG&A are travel costs that can be better managed. A recent restructuring-focused Deloitte report suggested that SG&A costs might be the wisest costs to shed without thwarting operations. For offshore suppliers, the wisest SG&A costs to shed might just be travel costs. Examining SG&A for offshore outfits produces some interesting travel numbers…

A group of 27 Danish institutional investors say they will launch a legal action against the former management of OW Bunker, a shipping company that filed for bankruptcy last year just six months after listing, and the private equity firm that brought the company to market. The Danish investors including two of the largest pension funds in Denmark, ATP and PFA, with assets of more than $165 billion have sued OW Bunker for 800 million Danish crowns ($120 million). The first case is against OW Bunker, its management and its owner, private-equity company Altor Funds. The second case claims that OW Bunker failed to disclose information at the appropriate time, in accordance stock exchange rules.

A group of Danish investors have sued OW Bunker for 800 million Danish crowns ($120 million) for misleading them in its initial public offer (IPO), after the ship fuel supplier filed for bankruptcy just months after listing. The 27 institutions, including two of the largest pension funds in Denmark, ATP and PFA, with assets of more than $165 billion, filed two lawsuits, they said on Friday. The company, which had been valued at $1 billion when it floated at the end of March, came to grief in November 2014 after suffering hedging losses of almost $300 million. The first case is against OW Bunker, its management and Altor Funds, the private equity fund that owned the company before listing it, regarding their responsibility for drawing up the prospectus for the flotation in March 2014.

The Lloyd’s Register (LR) Marine Approved Training Provider Scheme has awarded approval of the Korea Institute of Maritime & Fisheries Technology (KIMFT) training centre and Ice Navigation training courses. The President of KIMFT, Hyung-Taek Jung, met with LR's Asia & MEA Regional Marine Manager, Iain Wilson and Korea Chief Representative, Soo-Young Lee last month for the presentation ceremony of ATP certificate and plaque at the KIMFT office in Busan, Korea. "With accumulated technology, know-how and highly experienced qualified professors, we have been well managing our service to the Korean maritime community. "Gaining accreditation…

A group of the largest Danish institutional investors has initiated an investigation of the collapse of ship fuel supplier OW Bunker, they said in a joint statement on Wednesday. "The purpose of the investigation is to understand the events leading up to the bankruptcy and to obtain information that can be used to determine whether there are grounds for asserting legal liability," the statement said. The group of institutional investors include, among others, ATP, PFA, AP Pension, DIP, Industriens Pension, JOEP, Maj Invest, PensionDenmark and SEB. Reporting by Ole Mikkelsen

Under a settlement agreement with the United States, ATP Infrastructure Partners, LP (ATP-IP) will pay a $1 million civil penalty and perform corrective measures to resolve claims by the U.S. under the Clean Water Act and the Outer Continental Shelf Lands Act (OCSLA) of unauthorized discharges of oil and chemicals from an oil platform into the Gulf of Mexico, announced the U.S. Environmental Protection Agency (EPA), the Department of Justice, and the Department of the Interior’s Bureau of Safety and Environmental Enforcement (BSEE). This is the first joint judicial enforcement action involving EPA and BSEE claims in response to alleged violations of both the Clean Water Act and OCSLA. The United States’ complaint, which was filed in February 2013, in the U.S.

Today there are 324 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 64% of the existing systems, 79% of systems on order. Production semis, barges, spars and TLPs comprise the balance. The oil/gas production floater inventory has increased by four units since last month. Three FPSOs were ordered in August. We also reinstated a partially completed production semi,  Octobuoy, which we earlier deleted from the list of orders when the contract was terminated. This unit was being built for use by ATP in the North Sea.

Acteon company InterMoor completed decommissioning operations of the Innovator platform in the Gulf of Mexico’s Gomez field, Mississippi Canyon Block 711. Conducted in water depths of 910 meters, the scope of work involved disconnecting 10 risers/umbilicals; disconnecting 12 mooring lines and then towing the Innovator to Ingleside, Texas. InterMoor said it developed special procedures for disconnection and towing, procured rigging and tow equipment for all vessels including the Anchor Handling Vessel (AHV)…

An investment agreement has been signed between  ATP, Goldman Sachs funds and PFA to invest DKK 11 billion in DONG Energy A/S. The final closing of the transaction is conditional on the approval of the State Finance Committee of the Danish Parliament. Fritz Schur, Chairman of the Board of DONG Energy A/S, says: 
"We look forward to welcoming ATP, Goldman Sachs funds and PFA to DONG Energy's 
ownership group. The new equity entails that we can carry out our growth 
strategy, including our significant investment programme within offshore wind. "
In this area, DONG Energy is today a global market leader and our ambition is 
to become even stronger.

InterMoor, an Acteon company, has won a contract for design, fabrication and installation of 12 suction pile anchors, preset installation of 12 chain/polyester/chain mooring lines and hook-up of the LLOG Delta House production semi-submersible (the Floating Production System “FPS”). The work will be conducted in the Mississippi Canyon 254 block of the U.S. Gulf of Mexico. The project will involve suction pile design, fabrication and installation, followed by preset mooring installation and pre-set mooring hook-up of the FPS. The 12 piles will be 85 ft. long and 16 ft.

DONG Energy, a leading energy group with offshore interests in Northern Europe, announce that Goldman Sachs will subscribe for new shares for DKK 8 billion, ATP for DKK 2.2 billion and PFA for DKK 0.8 billion. Coincidentally, Carsten Krogsgaard Thomsen will step down as CFO after 11 years with DONG 
Energy. His successor will be Marianne Wiinholt, who comes from the position of 
Senior Vice President of DONG Energy's Customers & Markets division. Henrik Poulsen, DONG Energy’s CEO, says: 

“I would like to thank Carsten for the huge contribution he has made to the 
company over many years.