Marine Link
Friday, March 29, 2024
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Business News

28 Mar 2024

Insights: Cherrie Felder, VP, Channel Shipyard Companies

Cheryl “Cherrie” Felder is among the U.S. barging industry’s most well-known leaders, having built a reputation as a difference-maker and champion for the industry.

For Cheryl “Cherrie” Felder, the path to the maritime industry was both untraditional and seemingly meant to be. After studying African art, she began her career working in a museum in New Orleans before landing a role directing professional rodeo in the Big Easy.“It was a lot of fun, and I learned a whole lot,” Felder said. “But as you may imagine, New Orleans is not a rodeo town. After the third year, the board of directors decided, okay, that's it. No more rodeo.”And that’s when Felder’s doorway to the maritime industry swung open…

28 Mar 2024

Ocean Infinity Inks Deal with Shell for Subsea Data Capture Services

(Credit: Ocean Infinity)

Ocean Infinity signed a global framework agreement (GFA) with Shell to provide its robotic fleet for servicing the offshore energy sector.The GFA marks a significant milestone in the provision of lean-crewed and robotic seabed geomatics, spanning geophysical and geotechnical services, within the offshore energy sector.It covers a 5-year period, encompassing all countries where Shell is currently active or plans to operate in the future.Services governed by the GFA include the Armada fleet of uncrewed and lean-crewed vessels."This agreement enables new…

28 Mar 2024

Fincantieri Scoops $1.27B Deal to Supply Two Patrol Vessels to Indonesia

(Credit: Fincantieri)

Fincantieri and the Indonesian Ministry of Defense have signed a contract for the supply of two Multipurpose Offshore Patrol Vessel (PPA) units.The $1.27 billion (€1.18 billion) deal is part of the framework of collaborative relations initiated by the Italian Ministry of Defense.A PPA is a highly flexible ship with an outstanding technological standard. It has the capacity to serve multiple functions, ranging from patrol with sea rescue capacity to Civil Protection operations and first line fighting vessel.The vessels to be supplied by Fincantieri will be 143 meters long overall…

27 Mar 2024

Brazilian Built Submarine with French Tech Launched

(Photo: Naval Group)

The presidents of France and Brazil on Wednesday launched a submarine built in the South American country with French technology in a program that aims to build Brazil's first nuclear-powered submarine by the end of the decade.Presidents Emmanuel Macron and Luiz Inacio Lula da Silva attended a ceremony in the Itaguai shipyard near Rio de Janeiro, launching the third diesel-powered submarine built in a $10 billion partnership.Brazil first lady Janja da Silva smashed a champagne…

27 Mar 2024

Insurers Brace for Multibillion Dollar Losses After Baltimore Ship Tragedy

(Photo: Baltimore County Police Department)

Baltimore's Francis Scott Key Bridge collapse could cost insurers several billions of dollars in claims, sources say, but it is too early to calculate the likely full financial losses of the tragedy that has shuttered one of the busiest ports in the United States.Six peopleare still missing after a collision with a Singapore-flagged container ship destroyed the landmark bridge on Tuesday, forcing the closure of the Port of Baltimore.With little clarity on when the port would re-open, insurers and analysts are now assessing the likely losses borne by underwriters across several product lines in

27 Mar 2024

St. Johns Ship Building to Build Six Deck Barges for Seapath

(Photo: St. Johns Ship Building)

St. Johns Ship Building on Wednesday announced it has signed a contract with Seapath for construction of a series of six ABS deck barges in support of their Jones Act leasing business.The barges will be built at St Johns Ship Building’s facility in Palatka, Fla. and will be dispatched to multiple charterers along the US East Coast.Seapath is a subsidiary of the Libra Group, which is also parent to St. Johns’ holding company, Americraft Marine Group.Joshua Lubarsky, CEO of Seapath, said, “Domestic maritime transportation is the backbone of the US transportation system.

26 Mar 2024

Leadership Profile: Tor Svanes and NAVTOR's Quest to Transform Shipping

Tor Svanes, Founder and CEO, NAVTOR. Image courtesy Navto

Compliance, performance, profitability, sustainability; take the biggest ‘pain points’ for almost any shipping company and watch NAVTOR’s digital ecosystem work wonders. Here Tor Svanes, Founder and CEO, explains how NAVTOR has grown to lead the smart shipping world, why the recent merger with Voyager Worldwide was so critical, and how he hopes to help steer the industry towards brighter, simpler, and more intelligent horizons.“The morning of the announcement I got a text from the boss of one of our biggest competitors…

26 Mar 2024

Davie Awarded Contract for Canadian Icebreaker Design

(Image: Government of Canada)

The Canadian government has awarded a contract to shipbuilder Chantier Davie Canada Inc. of Lévis, Quebec, for initial work related to the construction of new Program Icebreakers. Under this $19.6-million contract including taxes, Davie will begin work to develop the initial design.A series of six new Program Icebreakers is planned to replace the Canadian Coast Guard’s (CCG) medium icebreakers that operate in Atlantic Canada and the St. Lawrence waterways during the winter, and in the Arctic during the summer.This contract enables the shipyard to initiate project planning phases…

25 Mar 2024

Van Oord Doubles Profit, Announces New CEO

Source: Van Oord

Van Oord concluded 2023 with revenue reaching record high and profits more than doubled.The company saw revenue growth across both its Dredging & Infra and Offshore Energy business units, which resulted in a significantly revenue increase of 42% to EUR 2.9 billion from EUR 2.0 billion in 2022.Net profit doubled to EUR 127 million from EUR 60 million in 2022. High fleet utilisation and the continued sharp focus on risk and contract management contributed to the improved results.The order book increased by 3% to EUR 4…

25 Mar 2024

Maritime Partners Hires Two In Executive Leadership Roles

(Photo: Maritime Partners)

Maritime Partners,a Louisiana-based provider of maritime financing solutions primarily focused on Jones Act vessels, announced the addition of Stephen J. Bordes and Greg Chase to its executive leadership team.Bordes joins Maritime Partners as its chief financial officer, and Chase as as the firm’s chief legal officer.Bordes brings to the company more than 20 years of experience in the fields of finance and fund management. Prior to joining Maritime Partners, he served as the CFO for New York-based American Industrial Partners…

24 Mar 2024

Weathernews Launches "Berth Waiting Forecast" Service

Source: Weathernews

Weathernews Inc. has launched its Berth Waiting Forecast which seamlessly integrates business data from shipping companies with precise weather insights to enable users to accurately predict the status of delayed ships at ports.In maritime operations, adverse weather conditions such as strong winds, high waves, and tropical cyclones frequently disrupt cargo handling operations at ports, leading to operational adjustments and increased fuel consumption. Weathernews' Berth Waiting…

20 Mar 2024

ABB to Supply Shore Connection System for DEME’s Fleet in Vlissingen Port

DEME’s Offshore Base in Vlissingen (Credit: DEME Group)

ABB has secured a contract to deliver shore connection installations that will enable DEME’s fleet to avoid emissions when berthed in the Port of Vlissingen in the Netherlands.ABB’s shore connection technology will support DEME’s long-term decarbonization strategy, providing the flexibility required to adapt to changing grid capabilities.Shore connection enables the diverse fleet of dredgers, offshore construction and support vessels to avoid carbon emissions by shutting off their…

19 Mar 2024

DNV and Ocean Sovereign Ink Deal on Fish Farming Superyacht

Source: Ocean Sovereign

DNV has teamed up with Ocean Sovereign to obtain French registration for the deployment of a unique fish farming superyacht.Ocean Ark’s patented advanced self-cleaning trimaran superstructure was developed by Ocean Sovereign according to MARPOL, SOLAS and IMO regulations. The vessel is designed to operate in high offshore waters, drifting with the natural current and natural fish shoals. The mobile nature of Ocean Ark will help to ensure the health and welfare of the fish and…

19 Mar 2024

Vestdavit Hits New Sales Record as Orders Increase 76% From Last Year

Vestdavit’s Telescopic davit, from the TDB series, undergoing inspection at Vestdavit Production in Poland (Credit. Vestdavit)

Norwegian davit supplier Vestdavit has notched up a new annual sales record for another consecutive year after seeing its order intake surge by 76% in 2023 on high demand from the offshore wind and oil and gas sectors, as well as increased sales in its core naval market.Vestdavit has expanded its market position in offshore wind after both gaining new customers and winning repeat orders with existing clients, including Esvagt and Rem Offshore, with orders in this sector accounting for more than $9.4 million (NOK 100 million)…

19 Mar 2024

Saipem and Fincantieri Form Subsea Alliance

(Credit: Saipem)

Saipem and Fincantieri have signed a memorandum of understanding (MoU) to evaluate commercial and industrial opportunities for cooperation in the field of autonomous subsea vehicles (AUV) and their integration with surface and underwater units.The MoU is among the initiatives aimed at promoting and developing Italy’s national excellence in the underwater sector.The agreement aims to enable the two companies to participate in major programs in the Italian and international markets in the area of surveillance and control of critical underwater infrastructure and rescue activities…

18 Mar 2024

OMSA Announces New Board Members

(File photo: Bordelon Marine)

Industry trade group the Offshore Marine Service Association (OMSA) announced the addition of four CEOs to its board of directors.The new board members include Wes Bordelon, Chief Executive Officer, Bordelon Marine; Stacy Jo Stanley, Chief Executive Officer, Offshore Oil Services, Inc.; David Dantin, Chief Executive Officer, Odyssea Marine; and Lasse Petterson, Chief Executive Officer, Great Lakes Dredge and Dock."With the addition of these four executive leaders, OMSA pays homage to its roots while welcoming expanded opportunities in emerging energy frontiers…

18 Mar 2024

CEO Says Exxon Mobil Not Trying to Buy Hess

Source: Hess

Exxon Mobil CEO Darren Woods on Monday said his company is trying to establish it has rights over Hess Corp's Guyana assets in its dispute with Chevron, not buy the company itself.In his first public remarks on the company's pursuit of an arbitration case that could block Chevron's $53 billion deal for Hess, Woods said Exxon would not have waited for Chevron to announce its Hess deal if it had wanted to buy Hess."We're basically standing up for what we believe is a fundamental right," Woods told Reuters at the CERAWeek energy conference in Houston.

17 Mar 2024

Launch Ceremony Held for A-O-S' New Jones Act CTV Gripper

(Photo: American Offshore Services)

An official launch ceremony was held to celebrate the commissioning of a new Jones Act compliant crew transfer vessel (CTV) built for American Offshore Services (A-O-S)—the company's first.Constructed by Blount Boats in Warren, R.I., the 100-foot-long aluminum catamaran is owned and operated by A-O-S, a joint venture formed in 2020 by leading European CTV operator Northern Offshore Services (N-O-S) and U.S.-based investment firm OIC.The vessel will support Ørsted and Eversource’s portfolio of offshore wind farms in the Northeast…

14 Mar 2024

NYK Receives Data Management Award

Source: NYK

NYK received the grand award at Data Management 2024 hosted by the Japan Data Management Consortium (JDMC) on March 8.JDMC established the Data Management Award in 2014 to publicize data management's role and importance and share pioneering know-how.NYK has been developing and utilizing data lakes - a data management system for data utilization and analysis. They are suitable for collecting and storing vast amounts of data, regardless of the format or scale of the data to be stored.NYK…

18 Mar 2024

Schottel Breaks Ground for Rudder Propeller Factory Expansion in Germany

Ground breaking ceremony for new logistics center (Credit: Schottel)

Schottel has marked the symbolic start of construction for the expansion of its rudder propeller factory in Dörth, with the construction already advancing towards the planned commissioning in 2025.Schottel is expanding its rudder propeller factory by adding a logistics center measuring around 4,000 m2.As the official ground-breaking ceremony was delayed, it has now taken place symbolically against the backdrop of the shell construction that has already begun.The total investment volume amounts to €9.5 million…

18 Mar 2024

Steiner Shipyard Launches Newbuild for Maine State Ferry Service

(Photo: Steiner Shipyard)

Bayou la Batre, Ala. shipbuilder Steiner Shipyard reports it has launched a new ferry it is building for the Maine Department of Transportation.The 104-foot passenger/vehicle ferry, named Charles Norman Shay, is designed by Gilbert Associates and is scheduled to be delivered in the near future.Once completed, the brand-new vessel will service the Maine State Ferry Service’s (MSFS) longest route, between Rockland and Matinicus Island (23 miles). It will provide the necessary upgrade to the ferry service that transports nearly 500…

18 Mar 2024

Strategic Marine Delivers Crewboat for Truth Maritime Services

(Photo: Strategic Marine)

Singaporean aluminum boat builder Strategic Marine recently delivered TMS Ranod, the first of two Gen 4 Fast Crew Boats to growing Thai offshore services provider Truth Maritime Services (TMS). The pair of newbuild contracts were signed in 2023.Strategic Marine launched the 42m Gen 4 FCB design in collaboration with Southerly Designs, and the vessel comes with a highly efficient new hull form and Z-bow which improves seakeeping and requires less power for the same speed and deadweight tonnage…

18 Mar 2024

GE Vernova Notches Singapore Navy Win

GE Vernova’s Power Conversion business was awarded a contract by Singapore shipbuilder ST Engineering Marine Limited to supply its Ship’s Electric Grid with Integrated Full Electric Propulsion (IFEP) equipment for the Republic of Singapore Navy’s six-ship Multi-Role Combat Vessel (MRCV) program.The six MRCVs will be the first IFEP-powered vessels for the Republic of Singapore Navy (RSN) and will replace its fleet of mechanical drive Victory-class missile corvettes, which have been in service since 1989. Delivery of the electric propulsion systems for the new ships is planned over the next 10 years.GE Vernova’s Ship’s Electric Grid includes all generators…