Rtm News

Singapore-based Megamas Resources, in partnership with Renaissance Technologies (RTM) has contracted Ulstein Design & Solutions AS to design a cable-laying and repair vessel. According to a press release issued Thursday, the decision to press ahead with the order was taken in view of the shortage of cable ships, as well as an aging fleet in the submarine cable industry. Megamas Resources plans to build two cable layers, with the first targeted to be ready for service in early 2026, to fill the gap in meeting the industry demand.

Mining giant Rio Tinto has entered an agreement with the oil major BP to start a one-year biofuel trial to reduce carbon emissions from Rio Tinto’s marine fleet. Under the trial, BP is supplying Rio Tinto with marine biofuel for approximately 12 months. The fuel will be trialed on Rio Tinto’s RTM Tasman bulk carrier on a mix of Transatlantic and Atlantic-Pacific routes, in what has been described as "one of the longest-duration marine biofuel trials to date." "Sustainable biofuels…

TGS-NOPEC Geophysical Company (TGS) and Schlumberger today announced a new multi- and wide-azimuth (M-WAZ) multiclient reimaging program in the highly prospective Central U.S. Gulf of Mexico. Final results are expected in early 2018, ahead of a period when substantial block turnover in the area is anticipated. The new Fusion M-WAZ reimaging program comprises data covering more than 1,000 Outer Continental Shelf (OCS) blocks (~23,000 km2) from 3D WAZ programs previously acquired by TGS and Schlumberger with the WesternGeco Q-Marine* point-receiver marine seismic system between 2008 and 2012. This large reimaging program will process data from the Mississippi Canyon…

Singapore-based Rickmers Trust Management (RTM), a trustee-manager of Rickmers Maritime,  is selling off a new ship from its fleet to ensure the company stays afloat. This means an impairment loss in the fourth quarter 2016. Rickmers has entered into a memorandum of agreement (MOA) for the sale of Kaethe C. Rickmers, a Panamax containership. The vessel is securing senior loan facilities extended by HSH Nordbank AG, Singapore Branch and DBS Bank (the HSH Syndicate) to the trust (the HSH Facility). The net proceeds from the sale will be applied towards the payment of operating costs of the secured vessels under the HSH Facility and partial prepayment of the HSH Facility. The Trustee-Manager has also entered into a deed of consent with the HSH Syndicate to obtain their consent for the sale.

Rickmers Maritime incurred a loss of US$55.6m in the second quarter, wider than the year earlier $15.7m on the back of a non-cash impairment charge as charter market conditions deteriorate. The Singapore-based consider is planning to lay up some of the 11 containerships it has operating in the spot market to save costs when the vessels are redelivered. Charter revenue fell 37 per cent to $18 million, due to reduced charter rates and lower vessel utilisation rates. The company’s net loss for the first half of this year was  $56.9 million, compared to $8.6 million during the first six months of last year. Additionally, charter revenue in the six-month period this year was $ 39.3 million, compared to $57.1 million in the first half of 2015.

Rickmers Maritime, which is affiliated to the Hamburg-based Rickmers Group,  slumped to a $129.2 million loss in 2015 from a $16 million profit a year earlier on increased write offs on the value of its ships and depressed container charter rates. The Container ship operator's charter revenue from its fleet of 16 container ships shrank by 17 percent to $108.5 million from $130.3 million last time. The bulk of the full-year loss was in the fourth quarter when the deficit widened to $129.6 million from $16 million last time, due mainly to an impairment charge of $128.4 million. This took the impairment bill for the full year to $148 million against $63 million in 2014.

Rickmers Trust Management (Rickmers Maritime) suffered a loss of USD15.7 million for the second quarter ended 30 June 2015 from a profit of USD16 million in 2Q14. Rickmers Maritime recorded a net loss after tax of US$15.7 million in 2Q2015, compared to a net profit of US$16.0 million in 2Q2014, due mainly to the non-cash recognition of a US$2.8 million goodwill impairment, and US$16.8 million provision for vessel impairment as market charter rates are still below historical averages. As a result of these impairments, Rickmers Maritime registered a net loss of US$8.6 million in 1H2015. Excluding the impact of the impairments totalling US$19.6 million, the Trust would have been profitable in both 2Q2015 and 1H2015, with net profit of US$4.0 million and US$11.0 million respectively.

Singapore-listed Rickmers Maritime Trust (RTM) will have a new ceo at the helm in June this year. Its CEO Thomas Preben Hansen has resigned from his post. Soren Andersen, a shipping executive with 17 years of experience at AP Moller-Maersk Group and American President Lines, will take over the helm. Hansen has held the role of ceo at RTM since its listing on the Singapore Exchange in May 2007. Andersen is currently head of global network and alliance, following a 15 years at AP Moller – Maersk. Andersen started his career with AP Moller-Maersk in Denmark in 1997 after graduating with a Master of Science in Business Administration, marking the beginning of an illustrious career with the group in various operational, marketing, and strategic positions.

A powerful new software upgrade is available for the Simrad AP70 and AP80 Autopilots. The upgrade is currently available as a free download and installed on all new systems sold. Continuing to build upon a legacy of state-of-the-art, high-performance autopilots, the Simrad AP80 and AP70 with RTM 2.0 software offer the most feature-packed and reliable solutions on the market. Adding the professional grade functionality that captains need, RTM 2.0 includes upgrades to system operation and greatly expands the overall feature set of both the AP70 and AP80. The RTM updates feature Quick Command and Quick Dodge enhanced manual steering. The…

Container ship owners & charterers out Rickmers Maritime describe a stable set of results in the first quarter of 2014. Charter revenue decreased slightly by 4% from the US$35.5 million reported for the first quarter ended 31 March 2013 to US$33.9 million, largely due to the redelivery of two vessels during the period. In the lead up to their new charters to Maersk Line, the two vessels, Henry Rickmers (formerly Ital Fastosa) and Richard Rickmers (formerly Ital Festosa) spent 19.7 days and 31.3 days respectively as at 31, March 2014 for preparation and positioning. In addition, the fleet incurred a total of 31.1 days of unscheduled off-hire, with Kaethe C. Rickmers incurring 20.0 days of off-hire due to engine problems. As a result, fleet utilisation for 1Q2014 fell to 94.3%.

Rickmers Maritime, inform it has chartered out to Maersk Line the container ships 'Henry Rickmers' (formerly 'Ital Fastosa') and 'Richard Rickmers' (formerly 'Ital Festosa'), each of them 3,450 TEU panamax-size container ships. Henry Rickmers will be delivered to Maersk Line this week and Richard Rickmers two weeks later; they have each been chartered for an initial minimum period of 12 months, up to a maximum of 24 months. The two vessels will be chartered at a floating rate based on an index agreed upon by both Maersk Line and RTM.

Container ship owners and operators, Rickmers Trust Management, report a net loss of US$8.0 million in 4Q2013 and a lower net profit of US$23.5 million in FY2013, compared to net profits of US$2.2 million and US$27.6 million in 4Q2012 and FY2012 respectively due to a a US$2.4 million provision for vessel impairment was made for 'Kaethe C. Rickmers'. A goodwill impairment of US$18.4 million was also recognised in 4Q2013, up from US$2.1 million a year ago. Rickmers Maritime’s fleet of 16 containerships is fully chartered out on fixed-rate time charters.

Rickmers Maritime is a Singapore business trust formed to own and operate containerships under long-term, fixed-rate time charters to leading container liner companies. Achieved vessel utilisation rate of 99.9%; Kaethe C. Rickmers Maritime achieved an outstanding vessel utilisation rate of 99.9% in 3Q2013. Its fleet of 16 containerships is fully chartered out, all of which are on fixed-rate time charters with an average remaining charter period of 2.5 years. Moreover, the vessel Kaethe C. Rickmers’ charter to Mediterranean Shipping Company S.A.

CCG with partners UES Malaysia and Vee-Tek Australia Epoxy will be given an award in the sector of Raw Materials at the JEC Asia Composites Show & Conferences in Singapore, June 2013. Composite solutions are successfully used in the auto, aircraft and marine industry, as well as in the fields of mass transportation, construction and wind energy. The development is ongoing and new solutions are continuously announced. One of them will be presented at the JEC conference in June. The task was to develop an infusible epoxy resin of high strength properties and with excellent FST capability. CCG teamed up with UES Malaysia, excelling in the construction of composite military vessels, and the Australia-based epoxy manufacturing company Vee-Tek.

'RTM Cook', built at Hanjin Heavy Industries in Subic Bay, Philippines, first of eight new RTM bulkers to fly the Red Ensign. Rio Tinto Marine provides services to the Rio Tinto Group to ensure that maximum efficiency is achieved in all of their mine-to-market supply chains, a critical aspect of Rio Tinto's mining business. In 2011 they shipped 160 million tonnes of dry bulk cargo and accounted for nearly 100,000 container movements. The company has now embarked on a new build programme, with 15 new buildings to be delivered by the end of 2014.

By Barbara H. In order to efficiently fabricate large, multi-component yachts using the strongest and lightest material possible, Intermarine Savannah has developed and refined a process of applying composite materials that is designed to save time, money, and to be environmentally friendly. Intermarine's method is a vacuum infusion process (VIP) in which vacuum is used as the main force to pull resin through dry fiber reinforcements. The reinforcements are loaded into a mold. A manifold system is then added to allow air to escape and resin to enter. The mold is sealed with a plastic bag, and vacuum is applied to evacuate air and pull resin into the fiber. The specialized technique developed at Intermarine enables resin to flow through and around without requiring a disposable flow medium.

RTM STAR Center® has been awarded a contract to perform a simulator-based study by TMM (Transportacion Maritima Mexicana), in cooperation with various cruise lines to investigate access by conventionally propelled vessels, as well as AZIPOD® propelled vessels at the inside berth (eastern side of the pier). These types of vessels were chosen because they are a good representation of the ships that may utilize the docking facilities now and in the future at Cozumel. STAR Center provided a geographical model of the port of Cozumel that accurately depicted the piers, shoreline, aids to navigation, and other distinctive features to ensure a high level of fidelity during the simulation exercises.

Carnival Cruise Lines has signed a contract with RTM STAR (Simulation, Training, Assessment & Research) Center, to provide five-day simulator based training programs in Bridge Resource Management (STCW '95 compliant, U.S. Coast Guard, Bahamas and Panama approved), AZIPOD training, Advanced Shiphandling, and Command Shiphandling to Carnival Officers. The courses have been developed, updated and customized to include the latest ship platforms and Carnival specific operating areas. The most up-to-date materials in the subject areas of team building, situational awareness, effective communications, stress management, fatigue, and cultural diversity will be included in the course text. Exercises using the full mission simulation create a "learning-by-doing" atmosphere.

RTM Star (Simulation Training, Assessment & Research Center) has received USCG approval for its 80-hour Advanced Shiphandling Course. The objective of this course is to provide students with theory and training in shiphandling and to satisfy company, national and international regulations for candidates for certification as master or chief mate as follows: STCW Code A-II/2 Maneuvering and Handle a Ship in all Conditions; and USCG 46 CFR 10.910 Table 10.910-2 Ship Maneuvering and Handlin

RTM STAR Center® has resolved a dispute concerning a competitor’s unauthorized use of STAR Center copyrighted training manuals. The resolution of the dispute included payment of damages and termination of all use of the infringing training manuals. STAR Center is satisfied with the resolution of the dispute.

RTM STAR (Simulation, Training, Assessment and Research) Center has announced the upgrade and modernization of their 247 degree “field-of-view” Full Mission Bridge Simulator. The simulator is located at STAR Center’s Dania Beach, Fla., facility and is based on a design by Kongsberg Maritime Ship Systems Inc. (KMSS). Following the successful upgrade of STAR Center’s 360 bridge with the Litton Sperry 2100 Integrated Bridge System in 1999, STAR Center is proud to announce the upgrade of its other Full Mission Bridge Simulator. The 247° Full Mission Bridge Simulator has been upgraded with KMSS equipment and features the capability to simulate Azipod® equipped vessels in addition to other traditional propulsion systems.

RTM STAR (Simulation, Training, Assessment & Research) Center announced that it has upgraded its 360º Bridge Simulator. The image generation system now features the Simfusion 4500Q with photo-textured graphics, and the projector system has been replaced by Christie 3-chip Digital Light Processing (DLP) with soft-edge blending provided by 3D Perception.

RTM STAR Center® (Simulation, Training, Assessment and Research) has installed what it dubs the world's first Full Mission Diesel Electric Simulator. It is referred to as the DE III. The simulator is located at STAR Center's Dania Beach, Fla., facility and is based on a previous design by Kongsberg Maritime Ship Systems. This simulator however has enhanced mechanical and electrical systems enabling it to meet the demanding STCW '95 requirements for Class "A" full mission simulation. The simulator is based on a large cruise ship requiring 40 MW of power at 6,600 volts. There are four diesel generator sets each rated at 11 MW connected to two 14 MW synchronous propulsion motors. In addition there are four thrusters (two forward and two aft) and two 600 KW emergency generators.