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Company Management News

10 Feb 2023

Michelin's WISAMO Wing Sail System Gets DNV Approval

The prototype of the sail that will be installed on the Maritime Nantaise ro-ro cargo vessel MN Pelican - ©DNV

DNV has awarded an approval in principle for Michelin's WISAMO wing sail system, which is the first AiP to have been awarded to an inflatable wing sail design. The WISAMO wing sail system is currently being installed for testing on the DNV-classed MN Pelican ro-ro cargo vessel.An Approval in Principle is an independent assessment of a concept within an agreed framework, confirming that the design is feasible, and no significant obstacles exist to prevent the concept from being realized.

21 Apr 2021

Atlantic Wind Transfers Pursuing Integrated Management System Certification

The offshore wind farm support vessels of Atlantic Wind Transfers, Atlantic Pioneer and Atlantic Endeavor, pictured together. (Photo: AWT)

Rhode Island-based owner and operator of crew transfer vessels (CTV) Atlantic Wind Transfers (AWT) has engaged classification society DNV for the company’s integrated Management System Certification as it seeks to scale up in the U.S. offshore wind industry. The company is working with DNV in pursuing international Safety Management Systems (SMS) certification and ISO 9001, ISO 14001, and ISO 45001 certification.As the U.S. offshore wind industry expands, the country's first Jones…

19 Mar 2021

tmax Honored as "Top 100' Innovator in Germany

Thorsten Thom, Chairman of the Management Board of the tmax Group. Photo courtesy tmax Germany GmbH

tmax Germany GmbH has been honored with the TOP 100 Seal for the first time in 2021. This award is bestowed on the most innovative companies in the German small firm sector each year. The prerequisite for the seal was the successful completion of a scientific selection process in which tmax was able to prove its innovative strength.On behalf of compamedia GmbH, which has been organizing the TOP 100 innovation competition since 1993, the innovation researcher Dr. Nikolaus Franke and his team investigated the innovative strength of tmax.

15 Feb 2021

AYRO Wind Assist Propulsion System Gets AIP from DNV GL

(Image: AYRO)

Classification society DNV GL said it has awarded AYRO an approval in principle (AIP) for its Oceanwings 3.6.3 wind assisted propulsion system for ships.As incoming maritime regulations are ramping up the pressure to improve sustainability and reduce emissions, maritime stakeholders are looking to reduce their greenhouse gas emissions and improve their EEDI or EEXI efficiency index, as part of efforts to comply with the IMO 2030 GHG strategy. The Oceanwings wind propulsion system…

10 Jul 2020

Ocean Tankers' Supervisor to Start Restructuring Talks with Owners

EY, the court-appointed supervisor for Ocean Tankers Pte Ltd (OTPL), has proposed two restructuring options to the shipping company's owners and could meet with them as early as next week to discuss the plans, according to an EY report seen by Reuters.The discussions are to ascertain whether the owners - Lim Oon Kuin, his son Evan Lim Chee Meng and daughter Lim Huey Ching, or the Lim family - are "willing to support any future restructuring of OTPL", the report said.EY declined to comment. Its lawyers, Rajah and Tann did not immediately respond to a request for comment.Evan Lim, the director of Ocean Tankers, said in an email that the Lim family would make it known if it decided to release a statement on the report.

13 Apr 2020

Fast Water Imperils Tricky Night Move

© Jesse / Adobe Stock

In late Spring at about 0300 local time, an aging towboat (#1) was pushing two loaded barges upbound on a swollen and fast-moving northwestern U.S. river. It was a moonless night and, while certainly not unusual conditions for the veteran captain and his longtime deckhand, it didn’t diminish the added challenges of the short but tricky nocturnal run. And, as towboat pilots know, activities and hazards that are literally clear in daytime hours, take on a decidedly different complexion after the sun sets and inky darkness envelops the river and shrouds its banks.

11 Feb 2020

Vessel Inspections: It's All About Safety

USCG marine inspectors at Marine Safety Unit Portland inspect a tug in Portland, Ore. (U.S. Coast Guard photo by Paige Hause)

With the announcements that New York Waterway, a ferry operator running 32 boats around New York and New Jersey waters, had been largely shut down by the U.S. Coast Guard just prior to Thanksgiving, 2019, the reactions ranged from surprise to outright shock. There was also a great deal of grumbling, as commuters, the major customer group, endured delays on New York Waterway’s extensive network across the Hudson River, bringing New Jersey commuters into New York’s business districts.So, what happened?

16 Jan 2020

Master Fined for Delayed Engine Failure Reporting

A tanker captain has been convicted and fined for failing to immediately alert Australian authorities of a main engine breakdown in 2019.On January 31, 2019, the tanker Asphalt Spirit suffered a main engine breakdown and began drifting 30 kilometers northeast of Point Lookout on North Stradbroke Island while carrying 14,000 tonnes of asphalt from from Korea to Australia.The ship’s master reported the incident via email to the Australian Maritime Safety Authority (AMSA) just after 10 p.m. that night – six hours after the initial breakdown.Modelling predicted the possibility of the ship running aground at the southern end of the island…

28 Oct 2019

Crew Members: the Key to Greater Efficiency

Logo: Danica

Ship operators are placing greater recognition on the role crew members play as the key to reaching higher efficiency goals, according to crew specialist Danica, which is expanding to meet the growing demand for quality crew services.As part of its expansion plans, the company will shortly open a new office in Riga, Latvia, and more are set to follow. Danica Managing Director Henrik Jensen said: “Shipping companies are beginning to realize that they have 8-10 seafarers on board…

10 Oct 2019

Autonomous Shipping – Cyber Hazards Ahead

A look at the typical areas most frequently seen as the scene of common accidents on board workboats. (source: European Maritime Safety Agency [EMSA])

If autonomous vessels are the future of maritime shipping, then cyber threats may be its Achilles heel. Congested shipping, restricted visibility, limited maneuverability, and intensive docking activities all contribute to port hazards – 42 percent of EU reported marine accidents (injury/death/damage to ships) took place in port areas and 44 percent of workboat fatalities occurred on Tugs. Autonomous shipping should provide numerous benefits including increased safety by relieving crewmembers of unsafe and repetitious tasks.

11 Jun 2019

KHI Wins AiP from DNV GL for LFPP

The international accredited registrar and classification society DNV GL has awarded the Japanese multinational corporation Kawasaki Heavy Industries (KHI) an Approval in Principle (AIP) for their LNG floating power plant (LFPP).The classification body said in a press release that the LFPP is a decentralized energy generation solution that enables locations to tap into natural gas as part of their power mix.The LFPP concept is designed for installation in areas where energy demand is rapidly increasing, but onshore infrastructure is not feasible or commercially viable. Instead, the LNG would be offloaded from a carrier, stored onboard in two cylindrical (IMO type C) tanks, and then regasified for power generation and exported to the onshore grid.

02 Apr 2019

ShipInox: AiP on Small LNG Vessel Design

Rendering of the new small-scale LNG carrier/bunker vessel design by ShipInox. (Source: ShipInox)

DNV GL presented ShipInox with an Approval in Principle (AiP) for its new small-scale LNG carrier/bunker vessel design, reportedly the first ever class-approved design based on an offshore supply vessel (OSV). With a length of 92 meters the ship will have a carrying capacity of 6,000 cubic meters.“The enthusiastic support we have received throughout the challenging development of this design makes us feel very humble,” says Rune Østbøe, CEO of ShipInox. “Not only DNV GL and the Norwegian Maritime Authority (NMA)…

20 Nov 2018

Shipyard Report: Abeking & Rasmussen

©Abeking&Rasmussen

111 years of success by designWhen Georg Abeking and Henry Rasmussen from Denmark established their boat and yacht yard 111 years ago, it is likely that neither of them suspected at that time that their small shipyard, headquartered in Lemwerder next to Bremen, would one day evolve into a world-renowned company known for building first class vessels.Today the company, which has been transferred into a European Company (Societas Europaea, SE), is a company that designs and manufactures, among other things. Included in this mix are some of the world’s most luxurious yachts.

24 Oct 2018

Blue Water Energy Partners with Apex International Energy

Apex International Energy announced that affiliates of Blue Water Energy (BWE) have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corporation (IFC) and company management.The oil and gas exploration and production company focused on Egypt and other Middle Eastern and North African countries (MENA) said that it is primarily focused on pursuing acquisitions and drilling opportunities in MENA, with an initial focus on Egypt.The company will continue to acquire assets and licenses, whilst driving value creation through the execution of production optimization opportunities, developments and exploration opportunities of scale.Blue Water Energy…

28 Sep 2018

Key People Changes in Aegean Marine Petroleum Network

International marine fuel logistics company Aegean Marine Petroleum Network (AMPNI) announced that President Jonathan McIlroy will leave the Company, effective November 15, 2018.The marine fuel and lubricants  supplier announced last month  the appointment of Kostas Polydakis to the position of Chief Operating Officer, as well as his qualifications and experience.Polydakis is serving on the Company’s Management Committee, along with the Company’s Chief Financial Officer, and the Company’s Global Director of Supply and Trading. Effective November 15, 2018, Polydakis will assume Mr. McIlroy’s remaining duties, and will continue to serve on the Management Committee.Aegean also announced that David Gallagher has been appointed to the Company’s Board of Directors…

22 Aug 2018

Workers at Croatian Shipyard Uljanik Go on Strike

(File photo: Uljanik)

Some 4,500 workers at Croatia's largest shipbuilding group Uljanik went on strike on Wednesday and called for management to step down in protest over late payment."The management has lost credibility in our eyes, the workers and suppliers have lost confidence," one union leader, Marina Cvitic, said.Uljanik controls two docks in the northern Adriatic, in the cities of Pula and Rijeka.The workers control less than 50 percent of the company, with the state also a minority shareholder.

28 Jun 2018

Icahn Cuts Stake in Cheniere

Activist investor Carl Icahn has reduced his stake in energy company Cheniere Energy Inc to 9.5 percent, and said he was confident in the company's management and Chief Executive Officer Jack Fusco.   Icahn, still the biggest shareholder of the company, had disclosed a stake of 13.8 percent in Cheniere in December 2015.

26 Jun 2018

HCAC to Aquire NRC, Sprint Energy from JFLCO

Glen Shore, Director of NRC Group and a Managing Director at JFLCO (Photo:JFLCO)

J.F. Lehman & Company (JFLCO), a middle-market private equity firm said that its investment affiliate JFL-NRC-SES Partners, LLC  signed an agreement to sell its membership interests in NRC Group Holdings, LLC (NRC Group), formed earlier this year with the combination of JFLCO companies National Response Corporation (NRC) and Sprint Energy Services (Sprint) , to Hennessy Capital Acquisition Corp. III (HCAC). After the transaction is completed, NRC Group will be a wholly-owned direct subsidiary of HCAC, who will change its name to NRC Group Holdings Corp. NRC Group Holdings Corp.

15 May 2018

Star Bulk Carriers Acquires Songa Bulk Fleet

Greece-based dry bulk shipping firm Star Bulk Carriers has entered into definitive agreements to acquire 18 dry bulk vessels in two all-share transactions. 15 of the vessels will be acquired from Songa Bulk and three of the vessels will be acquired from Oceanbulk Container Carriers. The consideration for the vessels was determined based on average vessel valuations by independent vessel appraisers. The Company has agreed to issue an aggregate of 13.725 million common and pay $145 million in cash for the acquisition of all of Songa’s 15 modern dry bulk vessels . The cash portion of the Songa consideration will be financed through proceeds of a new five-year capital lease of $180 million with China Merchants Bank Leasing with a margin of 280 bps…

18 Jun 2018

Great Lakes Group Announces New Management Hires

Thomas Rigolo (Photo: Great Lakes Group)

The Great Lakes Group announced recent new hires to the company’s management team: Thomas Rigolo – Shipyard General Manager; Kirsten Buccigrossi – Director, Marketing & Communications; and Emery Eiber – Quality, Health, Safety, Security, and Environment (QHSSE) Manager.Tom Rigolo is a senior shipbuilding executive with more than 25 years of experience gained from hands-on engineering and high-level leadership roles at several U.S. shipyards. Rigolo is a licensed Professional Engineer…

25 Oct 2017

Navibulgar Orders Up to Six Bulkers

Bulgarian ship owner Navigation Maritime Bulgare (Navibulgar) confirmed the building of another two high-efficiency up-to-date 45000t bulk carriers. This deal is a continuation of the contract for four + two newbuildings of DWT 45 000 t, signed in July this year with one of China’s three largest shipyards. According to local press reports the Chinese yard is Jiangsu Yangzijiang Shipbuilding. The order constitutes another step toward the implementation of Navibulgar’s objective to operate toward the middle of the 2020s its own fleet of 1.5 million tons of average age below seven years. The ambition of the company’s management is to establish Navibulgar as one of the leading shipowners in Europe in the sector of Handysize bulk carriers.

04 Jan 2018

Seaspan to Raise $250m to Invest

Seaspan Corporation announced that it entered into a letter of intent (LoI) pursuant to which Fairfax Financial Holdings Limited, through certain subsidiaries, will make an investment of US$250 million in Seaspan in exchange for the issuance by Seaspan of 5.5% interest bearing unsecured debentures and Class A Common Share purchase warrants. Seaspan intends to use the proceeds from this US$250 million investment to fund future growth initiatives, debt repayment and for general corporate purposes. Fairfax has agreed to subscribe on a private placement basis, and subject to certain conditions, for Debentures in a maximum aggregate amount of US$250 million.

31 Jan 2018

What Happens when Commercial and Recreational Vessels Face Off?

© Jo Ann Snover / Adobe Stock

A generally sound assumption to make is that many recreational boaters operating power boats and sailing vessels are not very familiar with the maritime Rules of the Road that their professional mariner counterparts understand and adhere to. The unfortunate consequence is a wide array of marine casualties and incidents from collisions, allisions, capsizings, groundings, wake damage, many unreported and countless near misses. Another safe assumption is that it’s almost certain that when a professional mariner gets involved with a recreational boater, the authorities, most notably the U.S.