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Service Sectors News

11 Apr 2022

Harland & Wolff Wins Contracts for Dry Docking of Two Cruise Vessels

P&O Cruises Aurora / Photo By MacdonaldAndy - Own work, CC BY 4.0, https://bit.ly/3E2kroB

Harland & Wolff Group has been awarded a dry dock contract for two cruise ships from P&O Cruises and Cunard respectively that will occupy the Belfast drydock for 33 days in total. The companies have selected Harland & Wolff's 81-acre Belfast shipyard to undertake drydocking works on two of its ships - Aurora and Queen Victoria. The works due to be undertaken on both ships are standard drydocking operations.The first ship to dock under this agreement will be Cunard's Queen Victoria which entered service in December 2007.

08 Sep 2021

Vaccine Inequalities and Supply Chain Woes Threaten Global Recovery -BIMCO

© Hor / Adobe Stock

Unequal vaccine distribution has put a stopper in the recovery in parts of the world, adding to supply chain disruptions and slowing growth even in countries protected by higher vaccination rates, says shipping trade organization BIMCO. In a globalized world, no one can return to normal before everyone can.The world is increasingly divided between countries where high vaccination rates are protecting populations, and thereby protecting the economies, and countries at the other end of the scale where vaccination rates, in some cases, still stand in single-digits.

20 May 2021

Vestdavit Establishes Dutch Subsidiary

(Photo: Port of Antwerp)

Vestdavit has bolstered its presence in the European market with the launch of a new subsidiary in the Netherlands that positions it for business growth in one of the world’s major maritime hubs. The Norwegian davit supplier is now able to provide readily available resources and expertise for new and existing clients from its Vestdavit BV office located in Maastricht that opened on May 1.Headed by managing director Kai Gjerde, the office will function as a sales and service center located at the intersection of the Netherlands…

02 Nov 2018

Maritime Administrator Welcomes Cadets to Annual Women on the Water Conference

Maritime Administrator Mark H. Buzby welcomed female cadets from the seven U.S. maritime academies to the 10th annual Women on the Water Conference, held November 1-3 in Castine, Maine. The conference, sponsored by the Maine Maritime Academy (MMA) in partnership with the U.S. Department of Transportation’s Maritime Administration (MARAD), showcases the successes of women in the maritime industry.“The demand for a highly trained mariner workforce increases daily,” said Administrator Buzby. “By providing our female cadets with the opportunity to learn from other female maritime industry leaders, we hope to inspire them to greater levels of achievement in their careers.”The Women on the Water Conference…

02 Jan 2017

BIMCO: What Shipping Market can Expect for 2017

The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. 2017 will see another year of die-hard competition, which now includes tankers. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach. The longer global economic growth remains weak and lacks investment, the lower future growth potential for shipping. For eight years, the world has struggled to cope with huge changes and challenges brought around by the crash of the financial market in 2008.

20 Dec 2016

Northern Shipping Fund Closes above Target

Northern Fund Management America LLC (“Northern Shipping”), an alternative capital provider to the shipping and offshore oil service sectors, said that it has completed a final closing for Northern Shipping Fund III LP, with total investor commitments of $505 million. The fund is one of the largest dedicated to maritime credit. The oversubscribed maritime credit fund, managed by Northern Shipping, exceeded its initial target of $400 million. The fund received commitments from a diverse group of institutional investors including public and private pension plans and other institutions, as well as high net worth family offices and shipping executives.

20 Dec 2016

Northern Shipping Fund Closes above Target

Northern Fund Management America LLC (“Northern Shipping”), an alternative capital provider to the shipping and offshore oil service sectors, said that it has completed a final closing for Northern Shipping Fund III LP, with total investor commitments of $505 million. The fund is one of the largest dedicated to maritime credit. The oversubscribed maritime credit fund, managed by Northern Shipping, exceeded its initial target of $400 million. The fund received commitments from a diverse group of institutional investors including public and private pension plans and other institutions, as well as high net worth family offices and shipping executives.

11 Sep 2015

London Tops Xinhua/Baltic Exchange Index for Maritime Services

London has come top of a listing of maritime service centres published by the Baltic Exchange and Xinhua, China’s news agency, whilst Singapore heads the overall list for its combined port and maritime services offering. The International Shipping Centre Development Index (ISCD) covers 46 of the world’s largest ports and cities and is designed to bring clarity to investors and governments on the relative performance of shipping centres around the world. London makes second place on the overall index, closely followed by Hong Kong. All three cities have large port facilities and support comprehensive maritime business service sectors. Shanghai has moved up to sixth place, overtaking Dubai. Tokyo has dropped out of the top ten with Athens taking its place at number ten.

09 Sep 2014

Realizing the Promise of Brazil Shipbuilding

If and when Brazil gets its maritime act together, oh what a shipbuilding market force it could be. The modern Brazilian shipbuilding industry was established in the 1960s, induced by a broad and effective governmental policy. The 1960s and 1970s saw the rise of the merchant marine and shipbuilding industry in Brazil. The creation of the “Merchant Marine Fund” and the “Tax for the Merchant Marine Renewal,” in 1958, together with other specific targets set by the government at that time, made investments available to the shipbuilding industry and for the development of the merchant marine in general. Counting on such incentives, new shipyards such as Ishibras and Verolme were built…

06 Feb 2014

BAE Systems Name Tom Arseneault COO of US Subsidiary

Tom Arseneault: Photo credit BAE Systems

BAE Systems announce that Tom Arseneault has been appointed chief operating officer (COO) of BAE Systems, Inc., the U.S. subsidiary of BAE Systems plc. He will serve as deputy to President and CEO Jerry DeMuro and will continue to be a member of the Group Executive Committee. “Tom brings a wealth of experience and insight to his expanded position and I look forward to partnering with him to optimize program and business performance across our company,” said DeMuro. Arseneault has worked for BAE Systems for more than a decade…

05 Aug 2013

WSS Opens Myanamar Office

Bjorn Tonsberg, Wai-phyo Naing: Photos courtesy of WSS

Wilhelmsen Ships Service (WSS) has opened its first office in Myanmar (formerly Burma) as part of its global expansion programme. Since Burma has opened up to foreign investment following recent political reform, WSS has made plans on how to offer its customers a direct service from inside the country. The company has concluded the time is right to play a role in shaping Myanmar’s ports, shipping and offshore service sectors. Myanmar is rich in natural resources and activity in the offshore and energy sector is growing rapidly.

23 Jun 2013

China & Taiwan Agree to Open Up Cross Straits Trade

China's mainland and Taiwan sign an agreement to open up their service sectors, including transportation. The signing in Shanghai followed two years of negotiations, reports Shanghai Daily, and will take effect later this year. Under the agreement signed by the mainland-based Association for Relations Across the Taiwan Strait and the Taiwan-based Strait Exchange Foundation, the mainland will open 80 service sectors to Taiwan, while Taiwan will open 64 sectors to the mainland.They include those related to commerce, telecommunications, construction, distribution, environment, health, tourism, entertainment, culture, sports, transportation and finance.

08 Sep 2011

STATOIL Mariner Concept Presented

Mariner field illustration (Photo Courtesy www.statoil.com)

Peter Mellbye, Statoil’s executive vice president for Development and Production International. The concept chosen for the Mariner heavy oil project on the UK continental shelf includes a production, drilling and quarter (PDQ) platform based on a steel jacket, with a floating storage unit (FSU). Statoil expects a final investment decision in late 2012 and first oil in late 2016. The Bressay heavy oil project on the UK continental shelf is also progressing according to plan, one year behind Mariner, to ensure transfer of learning and synergies.

08 Sep 2011

Mariner Concept Presented

The concept chosen for the Mariner heavy oil project on the UK continental shelf includes a production, drilling and quarter (PDQ) platform based on a steel jacket, with a floating storage unit (FSU). Statoil expects a final investment decision in late 2012 and first oil in late 2016. The Bressay heavy oil project on the UK continental shelf is also progressing according to plan, one year behind Mariner, to ensure transfer of learning and synergies. The Mariner and Bressay projects were presented at a press briefing by Statoil’s executive vice president for Development and Production International, Peter Mellbye, at SPE Offshore Europe 2011 in Aberdeen. “After a period of uncertainty, I am proud to be able to say that we are back on track with the landmark Mariner and Bressay developments.

19 Jan 2011

General Maritime to Sell, Leaseback Product Tankers

General Maritime Corporation (NYSE: GMR) announced that it has entered into memoranda of agreement to sell three product tankers, the 2004-built Genmar Concord, the 2005-built Stena Concept and the 2005-built Stena Contest, to affiliates of Northern Shipping Fund Management Bermuda, Ltd., an alternative capital provider to the shipping and offshore oil service sectors. General Maritime will receive net proceeds totaling $61.7m for the sale of the three vessels. The sale will fulfill the requirement under the amended bridge loan, which is expected to be repaid in the current first quarter of 2011. The sale is subject to the leaseback of the vessels under bareboat charters to be entered into with the purchasers for a period of seven years at a rate of $6…

19 Aug 2003

Canada Maritime Earns World Trade Award

invest in new tonnage and pioneer new services. reliability, price, technology, customer relations and on-time delivery. the largest ships ever to be deployed in the St. teu containerships Canmar Venture and Canmar Spirit. fastest transit times between the continents. responsibility for Canada Maritime. with the new ships and terminal investments at our Montreal Gateway.

22 Dec 2003

Schottel Going Full Speed Ahead

Schottel ended the year 2003 with record sales. With 550 employees worldwide, the company continued the previous year’s trend, achieving sales in the new systems and service sectors totalling 90 million euro (2002: 81 million). Sales for the group were thus increased by 11%, and once again exports accounted for some 80% of the total. The extremely satisfactory volume of incoming orders in the last 12 months, amounting to some 88 million euro, means that 42 million euro of orders are on hand for the year 2004. Of particular significance are the latest worldwide sales successes in the areas of tug propulsion systems, offshore supply vessels, cruise ships, research vessels, ferries and military vessels.

11 Jan 2005

Schottel Reports Successful Year

The propulsion specialist SCHOTTEL, with headquarters in Spay/Rhine, remains on course for success, rounding off the year 2004 with another sales record. The corporate goal of 100 million euro in group sales for the new building and service sectors was achieved (2003: 90 million euro). Exports accounted again for about 80 percent. Of particular significance are the latest worldwide sales successes in the areas of tug propulsion systems, offshore supply vessels and tankers, research vessels, ferries and military vessels. More and more SCHOTTEL propulsion and manoeuvring systems are also being successfully implemented in the megayacht sector. Also contributing to the good overall results is our Service department, with a large number of conversions and modernizations of existing systems.

27 Aug 1999

Secretary Slater Switches On Satellite Navigational and Positioning Systems

U.S. Secretary of Transportation Rodney E. Slater and South Dakota Senator Tim Johnson joined with Admiral James M. Loy, Commandant of the USCG, to officially switch on the latest satellite-based positioning technology, a federally required system that will benefit all 50 states as well as private industry. The ceremony marked the official availability of the Maritime Differential Global Positioning System (MDGPS) and its expansion into the Nationwide Differential Global Positioning System (NDGPS), which will extend the technology's benefits to all modes of the nation's transportation systems. The Differential Global Positioning System (DGPS) provides a significant advance in the application of satellite technology.