Improved Management News

Anything but new, the Victaulic method of pipe-joining has been around for a long time. Armed with myriad type approvals from most IACS groups, Victaulic’s output will no doubt (and soon) form a part of your marine equipment for a long time to come. The conservative and staid domestic waterfront, especially where it intersects boatbuilding and repair, recently set sail for increased efficiencies, driven in part by emerging technologies, but also through improved management and new assembly techniques. It was in 2013 that Boysie Bollinger’s son, Chris Bollinger, then a member of the Bollinger senior management team, proclaimed, “Boatbuilding is evolving into something that will more closely resemble manufacturing…

Anything but new, the Victaulic method of pipe-joining has been around for a long time. Armed with myriad type approvals from most IACS groups, Victaulic’s output will no doubt (and soon) form a part of your marine equipment for a long time to come. The conservative and staid domestic waterfront, especially where it intersects boatbuilding and repair, recently set sail for increased efficiencies, driven in part by emerging technologies, but also through improved management and new assembly techniques. It was in 2013 that Boysie Bollinger’s son, Chris Bollinger, then a member of the Bollinger senior management team, proclaimed, “Boatbuilding is evolving into something that will more closely resemble manufacturing…

One of the world’s largest and most active shipping registers, The Liberian Registry, has called on shipping regulators to ensure the effective implementation of existing rules to protect human life, safety and the environment, rather than creating new rules and regulations instead. Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry, the U.S.-based manager of the Liberian Registry, said, “It is the job of ship registries and other regulators to ensure the effective, efficient and practical implementation of rules and regulations. Unfortunately, the entire industry does not operate in this way. There are other regulators who are not enforcing the rules effectively and this is really troublesome because the result of ineffective implementation is yet more regulation.

ABS Nautical Systems today announced that they have been selected as the asset management software provider for Star Clippers, based in Monaco. Star Clippers is one of the premier specialty cruise lines and the only modern-day cruise line dedicated to re-creating the golden age of tall sailing ships with a “mega-yacht” experience. Operating three of the largest and full-rigged sailing ships in the world, Star Clippers will implement the Maintenance & Repair, Purchasing & Inventory and Crew Management modules…

Leading accountant and insurance industry adviser Moore Stephens has questioned whether data governance is being accorded the attention it deserves by the insurance industry. Recent FSA Arrow visits have highlighted a number of frequently recurring problems in insurance firms relating to risk management, governance, data and reporting. These include poor risk control culture, poor reporting, ineffective governance, inadequate allocation of control staff, lack of integration across controls and risks, and poor formalisation of roles and accountability.

American Commercial Lines Inc. (Nasdaq: ACLI) announced results for the first quarter ended March 31, 2009. Revenues for the quarter were $196.8 million, a 27.2% decrease compared with $270.5 million for the first quarter of 2008, as transportation revenue declined by 24.1% and manufacturing revenue fell 45% on fewer units sold. For the first quarter 2009, the company's net loss was $5.5 million or $0.11 per share compared to net income of $2.3 million or $0.05 per diluted share for the first quarter of 2008. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the first quarter of 2009 was $13.1 million with an EBITDA margin of 6.7% compared to $23 million for the first quarter of 2008 with an EBITDA margin of 8.5%.

Neptune Orient Lines (NOL) reported a net profit for the first quarter of 2007 of $43m, down 64% year-on-year. The Group’s Core EBIT (Earnings Before Gross Interest Expense, Tax and Non-Recurring Items) was $58 million, 59% lower than Core EBIT for the same period of 2006. The Liner business achieved Core EBIT of $41 million, down 67%. APL Logistics reported Core EBIT of $12 million, down 25%. 1Q2007 revenues rose year-on-year by 1% to $1.9 billion. NOL Group President and Chief Executive Officer, Dr Thomas Held, said: “Freight rate levels for our company in the first quarter of 2007 were, on average, 6% lower than in first quarter 2006. This reduction in rate levels year-on-year has been the major factor in the lower profit reported today.

ShipServ introduced ShipServ Pages on April 20m 2006, an online search engine for the shipping industry. ShipServ Pages makes immediate online search and listing access available to the 10,000 shipping companies and more than 30,000 marine suppliers operating in the world-wide ship supply market. ShipServ Pages enable all marine buyers to search for and qualify suppliers using a wide variety of criteria on as narrow or as wide a basis as required. They provide suppliers with a highly effective tool to market and advertise their services in an interactive manner. Fully integrated to ShipServ’s TradeNet and highly user friendly - ShipServ Pages provide shipowners / managers and their suppliers with further improved management and marketing tools.

BC Ferries' management is being restructured, resulting in a $5 million annual savings and a 20 percent reduction in non-fleet management and administration positions, President and CEO Bob Lingwood announced. Lingwood was joined in the announcement by Gordon Wilson, minister responsible for the corporation, and Michael Francis, chair of the corporation's board of directors. "This downsizing and re-organization is a substantial move forward in our efforts to get the corporation's financial and management house in order," said Lingwood. "The executive is serious about improving the corporation's performance for our customers and the taxpayers. -The corporation will be reducing its year 2000/01 overhead and administrative costs by $5 million.

BC Ferries' management is being restructured, resulting in a $5 million annual savings and a 20 percent reduction in non-fleet management and administration positions, President and CEO Bob Lingwood announced. Lingwood was joined in the announcement by Gordon Wilson, minister responsible for the corporation, and Michael Francis, chair of the corporation's board of directors. "This downsizing and re-organization is a substantial move forward in our efforts to get the corporation's financial and management house in order," said Lingwood. "The executive is serious about improving the corporation's performance for our customers and the taxpayers. · The corporation will be reducing its year 2000/01 overhead and administrative costs by $5 million.