New Standard for LNG Cargo Containment Systems
Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day. WTS subsidiary company Ti Group completed the test on the LNG carrier Seishu Maru, currently under construction at Mitsubishi Heavy Industries in Japan for NYK Line. Ti Group was responsible for supplying the cargo tank insulation system on Seishu Maru, one of six LNG carriers to be delivered in this order. The vessel is a next generation Sayaendo design vessel, with a cargo capacity of 150,000 cubic meters.
Wärtsilä, John Crane-Lips In Marine Propulsion Deal
In a move which firmly signals that marine propulsion power consolidation of resource is far from complete, Wärtsilä NSD and TI Group, on behalf of John Crane-Lips, signed of a co-operation agreement to develop, market and supply total marine propulsion power systems to the shipbuilding industry. Agreement has also been reached for TI Group to purchase Wärtsilä NSD's propeller production and related servicing business at Rubbestadneset, Norway, with approximately 120 employees transferring from Wärtsilä NSD Norway to John Crane-Lips. The co-operation agreement follows the signing of a Letter of Intent in February and is subject to clearance by the appropriate regulatory authorities. Wärtsilä NSD and John Crane-Lips have significant complementary strengths.
Contracts
Bollinger Shipyards, Inc., Lockport, La., has signed a contract to build two, 250-ft., double hull, jumbo coastwise service, single rake hopper barges for Tide Leasing, LLC, Birmingham, Ala. Construction has begun on the first barge and building of the second vessel will begin in August. Both are scheduled for delivery in November 2000. Overall, each barge will be 250 ft. in length, with a 52.5-ft. beam and 14-ft. depth and 11.5 ft. maximum draft. They will be built with .75-in. steel at the hopper bottoms and .625-in. steel at the hopper sides plus .5-in. T-1 liner plates on the bottom and upper sides of the hopper. Each will be able to carry up to 3,000 metric tons of coal and will operate out of Santa Marta, Colombia. Shearer and Associates, Inc., Metairie, La.
Marine Diesel Propulsion: Where Less Is More
Alstom Diesel engines and its three well-regarded brands — Mirrlees Blackstone, Paxman and Ruston — were recently bought by MAN B&W. Several recent deals have confirmed the continuing trend towards a consolidation of resources in the realm of marine propulsion equipment. The trend, to regular followers of the industry, is hardly a new development. However, a spate of recent new deals and consummations has brought the topic to the forefront again. As reported in the June 2000 edition of Maritime Reporter & Engineering News, the emergence of Rolls Royce as a major force in the field of marine propusion is solidified with a collection of brand name equipment suppliers. The U.K.
Rolls-Royce Proposes $933 Million Offer for Vickers
In yet another case of giant-eating-giant consolidation, Rolls-Royce Plc has made a surprise $933 million agreed cash offer for Vickers Plc, in a move aimed at making Rolls-Royce the global leader in marine power systems. The acquisition would place a significant portion of marine propulsion products - including the Ulstein, Aquamaster, Kamewa, Rauma, Brown Brothers and Mitchell Bearings brands - in one company's control, affecting operators of all vessel types, from VLCCs to tugboats. Ironically, the move comes just as Vickers put the finishing touches on its own revived industrial empire, by acquiring several marine propulsion equipment suppliers in order to dominate a once fragmented piece of the international maritime market.
Rolls-Royce Launches $933 M Offer For Vickers
Just as soon as Vickers Plc put the finishing touches on its revived industrial empire - acquiring a myriad of marine propulsion equipment suppliers in order to dominate a once fragmented piece of the international maritime market - wheels have been set in motion to acquire the goliath itself. Last week Rolls-Royce Plc launched a surprise $933 million (576 million pound) agreed cash offer for Vickers Plc in a move aimed at making it the global leader in marine power systems. But the deal, pitched at a 53 percent premium over Vickers share price last Friday, prompted concern from some analysts who felt Rolls-Royce may be paying too much merely to bolster its marine propulsion business. "This was a big surprise.
