Prestige News

Elisabeth Cosmatos, Managing Director of Cosmatos Group, has been elected President of The Heavy Lift Group (THLG), an international association for specialised heavy transport companies.The appointment was made as part of the executive committee election during the 68th THLG Conference on June 5.Taking over from FOX Brasil’s Murilo Caldana, Cosmatos becomes THLG’s first female president. She is joined on the executive committee by Rhenus Projects’ Colin d’Abreo, Alessio Bianchi of DCS Liburnus…

Finland-based marine technology group Wärtsilä will partner with Transworld Group to apply what it says are the most advanced decarbonization modeling capabilities to the bulk carriers sector of Orient Express lines of Dubai.Orient Exrpress is owned by Transworld Group and Managed by Transworld Ship Management (TWSM), one of India's premium private sector ship management firms. The project aims to provide decision-making support by simulating the impact of efficiency upgrade technologies on the vessel’s environmental performance.

Australian offshore support vessel owner MMA Offshore said Friday it had secured three contracts supporting offshore wind farm developments in Taiwan during 2023.The three contracts, with firm periods totaling 370 days, will increase the company’s contracted revenue by a total of approximately A$30 million (currently USD 20,2 million) and could provide additional revenue of approximately $15 million from 180 days in additional option periods.In March 2023, MMA Pinnacle vessel will mobilize from Singapore to Taiwan to support Seaway 7 on a wind farm development project.

Since Russia’s invasion of Ukraine a year ago, most of the fighting has been on land. However, there has also been a less visible – but nonetheless crucial – maritime dimension to the war across the full spectrum of tactical, strategic, economic and diplomatic considerations.After land troops crossed the Ukraine border on February 24 2022, the Russian navy quickly secured control of the northwestern Black Sea. This meant it could contribute to the air campaign against Ukraine by launching cruise missiles from the sea.

Gender equality has made enormous strides over the past century. In Canada today, women participate in the labour market at much higher rates than they used to — there are almost 3.5 times more women working now than there were in the 1950s.The proportion of women in traditionally male-dominated fields has also grown significantly. The number of female medical residents taking on orthopedic surgery residencies, for example, increased by 111% from 2006 to 2016. In addition, women’s…

Spain on Monday won backing from Europe's top court in its mutlimillion euros damage claim against The London Steam-Ship Owners Mutual Insurance Association for a massive oil spill on its northwestern coast two decades ago.The 2002 sinking of the Greek oil tanker Prestige, which was sailing to Gibraltar, released an estimated 63,000 tones of foul-smelling black fuel along the Galicia coast and forced the closure of Spain's richest fishing grounds.It led to a lengthy dispute between The London Steam-Ship Owners' Mutual Insurance Association Limited…

Tanker shipping company Hafnia on Thursday announced it has completed its acquisition of 32 product/chemical tankers from Chemical Tankers and 12 LR1 tankers from Scorpio Tankers.Singapore-headquartered Hafnia, created through a merger between Hafnia Tankers and BW Tankers in 2019, now has an owned fleet of 152 vessels and commercially managed fleet of 242 vessels.“These transactions cement our position as the world's largest operator in the product and chemical tanker segment. The 44 new vessels are all compliant with the 2023 EEXI requirements and bring Hafnia closer to achieving IMO’s 2030 carbon intensity goal by 2028," said Hafnia's CEO…

Israel received its most advanced warship on Wednesday, describing the German-made vessel dubbed "Shield" as a bulwark for vulnerable Mediterranean gas rigs as tensions with Tehran soar over the assassination of a top Iranian nuclear scientist.The Saar-6 corvette that docked in Haifa port, and three of the same model to follow next year, will bring to 15 the number of missile boats deployed by an Israeli navy which, while small, carries out missions as far away as the Red Sea and the Gulf.Israel also wants to protect off-shore natural gas fields close to Lebanon…

South Korean shipbuilders Hyundai Heavy Industries (HHI) and Hyundai Mipo Dockyard (HMD) have gained Approval in Principal (AiP) for the application of the “solvent free 1 coating system” for ballast water tanks from both the Korean Register of Shipping (KR) and the Liberian Registry.The eco-friendly (solvent free) 1 coating system has been verified for excellent coating quality when compared to the traditional double coating system and has passed quality standards for alternative…

Norwegian ship owner and operator Ocean Yield ASA has taken delivery of three long range 2 (LR2) product tankers built in China.The three LR2 product tankers are Navig8 Pride (2018-built), Navig8 Providence (2018-built) and Navig8 Prestige (2019-built). The vessels were acquired from a major Chinese leasing company with about 9 year’s remaining bareboat charters to Navig8 Topco Holdings Inc.The fourth vessel, the “Navig8 Precision” is expected to be delivered next week. All four vessels are fitted with scrubbers and built in 2018 and 2019.Following the latest acquisition, Ocean Yield’s fleet currently comprises about 70 vessels.Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters.

The luxury motor yachts bulder Prestige Yachts announced the availability of 42 feet vessel, with the allnew Prestige 420.This new model makes the expertise of Prestige more accessible, said a press release.The latest evolution of the brand are now offered in a 42-footer for a new generation of owners, it said.Spacious and bright, the Prestige 420 reflects the core values of the brand and offers an incredible quality of life aboard a yacht of this size. Her bold, elegant lines are signatures of Garroni Design.This model boasts a V-Drive propulsion system that ensures perfect balance due to the centralization of weight. This effective…

Private investment firm Auxo Investment Partners said it is partnering with the Andrie family with an investment in Andrie LLC, a Michigan-based Jones Act bulk transporter of specialty products including liquid asphalt, cement, light oil petroleum products, and calcium chloride throughout the Great Lakes. The deal, terms of which were not disclosed, marks Auxo’s sixth acquisition in 16 months, and builds on the firm’s December 2017 acquisition of M/G Transport Services, a leading dry-bulk transportation and logistics company based in New Orleans.Andrie, founded in 1988, is a company serving the Great Lakes, working extensively with large global customers.

Deal builds on Auxo’s December 2017 acquisition of leading dry-bulk transportation and logistics company, M/G Transport Services. Private investment firm Auxo Investment Partners announced today that it is partnering with the Andrie family with an investment in Andrie LLC, a Michigan-based Jones Act bulk transporter of specialty products including liquid asphalt, cement, light oil petroleum products, and calcium chloride throughout the Great Lakes. The deal, terms of which were not disclosed…

German based company, Peter Döhle Schiffahrts-KG signed an Agreement with Erma First S.A., manufacturer of Ballast Water Treatment Systems (BWTS), for the installation of BWTS onboard its vessels.Erma Firstis represented in Germany by MOE Marine & Offshore Equipment, who has handled this prestige project during the last 18 months.After a thorough review of the different Ballast Water Treatment Systems (BWTS), Peter Döhle Schiffahrts-KG has decided to partner with Erma Firstfor the delivery of its approved BWTS on their entire fleet, comprised of different sizes and types of vessels, including but not limited to Bulk Carriers and Container Vessels.Konstantinos Stampedakis, Managing Director of Erma First commented: ‘It is our honor to work with such a well-esteemed company.

Russia’s largest shipping company Sovcomflot Group (SCF Group) informed that the SCF Far East Tall Ships Regatta 2018 was officially launched. This marks the first time that Russia’s Far East will host an international tall ship race.The principal competition begins on 1 September with the race from Yeosu (South Korea) to Vladivostok, with over 20 vessels from Russia, Japan, China, South Korea, Indonesia, and other countries competing to be the first to cover the distance of over 500 nautical miles. The ships are expected to arrive to Vladivostok on 8-9 September 2018. The regatta events in Vladivostok will coincide with the 4th Eastern Economic Forum (EEF).The regattas are traditionally held under the patronage of the heads of the participating states.PAO Sovcomflot (SCF)…

The 330m Royal Princess cruise ship arrived in Dublin this afternoon carrying more than 3,000 passengers and crew. Her arrival kickstarts a record cruise season for Dublin Port with 151 cruise calls confirmed for 2018, bringing just over 270,000 visitors to the city. The Royal Princess will hold a commanding presence in the city’s port with her size more than two-and-a-half times the length of Dublin’s Spire (which stands at 121 meters) and her 66-meter height making her taller than Liberty Hall. The ship also holds the prestige of being christened by The Duchess of Cambridge Kate Middleton. Among the 151 cruise calls confirmed for 2018, there are nine maiden calls. This year 23 cruise calls will feature ships longer than 300m including the 330m Regal Princess on September 13th.

China first domestically developed aircraft carrier looks set to begin sea trials after pictures appeared on the Chinese internet on Monday of it leaving its dock in the northeastern port of Dalian. The still-unnamed carrier was launched this time last year but since then has been undergoing fitting of weapons and other systems and has not yet entered service. Chinese President Xi Jinping is overseeing an ambitious military modernisation scheme, including stealth jets and anti-satellite missiles, as China ramps up its presence in the disputed South China Sea and around self-ruled Taiwan, an island it considers its own. Online Chinese news portals…

Oslo based MPC Container Ships ASA said it has reached a deal to acquire five feeder containerships presently managed and operated by Simatech Shipping & Forwarding L.L.C., Dubai for a total purchase price of $41.9 million in cash.    MPC said it will establish wholly-owned subsidiaries to take over the five vessels, which include Sima Pride (1,201 TEU, built 2004), Sima Perfect (1,221 TEU, built 2005), Sima Prestige (1,221 TEU, built 2005), Sima Sapphire (1,440 TEU, built 2006) and Sima Sadaf (1,440 TEU, built 2007).   Physical takeover is expected in the first half of 2018, lifting the MPC Container Ships fleet to 64 feeder units.   MPC Container Ships was formed in April 2017 and owns and operates a portfolio of containerships between 1,000 and 3,000 TEU.

China launched its first domestically built aircraft carrier on Wednesday amid rising tension over North Korea and worries about Beijing's assertiveness in the South China Sea. State media has quoted military experts as saying the carrier, China's second and built in the northeastern port of Dalian, is not expected to enter service until 2020, once it has been kitted out and armed. Foreign military analysts and Chinese media have for months published satellite images, photographs and news stories about the second carrier's development. China confirmed its existence in late 2015.

MAN Diesel & Turbo said it has contractually agreed to acquire a 40 percent participation in Aspin Kemp & Associates (AKA), a Canadian company specializing in power supply, energy management and drive systems for marine applications. Jointly, the companies will offer turnkey integrated power, propulsion and automation solutions. AKA co-founder Jason Aspin will remain with the company as Managing Director and shareholder, while the other founding partner, Neale Kemp will sell his shares in AKA and retire from active business operations. MAN Diesel & Turbo said the investment is part of its strategic development program, "Basecamp 3000+", launched in 2016.

An improved and upgraded version of the Miko Marine ShipArrestor system has been delivered to the Norwegian Coastal Administration (NCA). The system has been developed to give nations the ability to protect their coastlines from the danger of ships that have lost engine power and from the pollution that can result when they run aground. The ShipArrestor system uses a specially designed parachute-shaped sea anchor that is connected to a drifting ship by helicopter and secured without any need for crew involvement.

Robert (Bob) Clyne, ABS Senior Vice President, General Counsel and Corporate Secretary , was recognized with the Outstanding Professional Achievement Award for his distinguished accomplishments as a graduate who best exemplifies the finest tradition of Kings Point – Acta Non Verba – and lending honor and prestige to the United States Merchant Marine Academy. “Bob is most deserving of this recognition,” said ABS Chairman, President and Chief Executive Officer Christopher J. Wiernicki. Clyne began his career at ABS working in various positions from 1982 to 1988. Upon earning his law degree, he joined the firm of Hill Rivkins LLP where he practiced maritime law for 24 years and served as Co-Managing Partner from 2006 to 2012.

Key figures from Maersk Group, Statoil and the Organization for Economic Co-operation and Development have signed up to discuss future ocean business opportunities, demands and strategies at Opening Oceans Conference 2018 (OOC). The event, Nor-Shipping’s first outside its Norwegian home, will see c-level executives gather in Copenhagen on May 2nd and 3rd  to examine how to responsibly realise the huge potential of the ocean, gaining the understanding, partners and tools to equip businesses for the way ahead.