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Global Marine Port and Service Industry to Grow at a CAGR of 4.7%

Photo by Global Energy Holdings Ltd

 According to a new industry report published by Lucintel, the future of the global marine port and service industry looks good, with opportunities in the marine freight transportation industry.    As per a Lucintel study, the global marine port and service industry is forecast to grow at a CAGR of 4.7% from 2015 to 2020. The major drivers of growth for this industry are high growth of the marine freight transportation industry and surging demand of containerized and bulk cargo.    Increasing global exports, rising customer (Shipping companies) demand, and expansion of new regional trade hubs are the additional factors contributing to accelerated growth.   In this industry, container handling services, ship repair and maintenance services, navigation services, supply chain and logistic solution services, and mechanical and electrical engineering services are the operating segments in the global marine port and service industry.    Navigation services are expected to depict above average growth during the forecast period. Lucintel adds that the demand for navigation services is expected to experience the highest growth in the forecast period, supported by an increase in marine freight transportation, which in turn increases the calls of vessels at ports.   


Kanoo to Reveal Latest Developments at Services Show

Kanoo Shipping – an offshore and marine services provider in the Middle East, operating throughout Saudi Arabia, Bahrain, UAE, Oman, Qatar, Yemen, Iraq and Sudan – will be present at the Saudi International Marine Services Show -2013 to demonstrate various services provided by the company including marine operations, shipbuilding, ship and rig repair division, engineering and construction services and sea ports operations.


PPL Shipyard Completes Acquisition of Sabine Industries

Further to its announcement dated September 22, 2005, “SembCorp Marine’s PPL Shipyard Acquires Sabine Shipyard in Texas, USA”, SembCorp Marine is pleased to announce that its subsidiary PPL Shipyard has completed the acquisition of a 100 per cent equity interest in Sabine Industries, Inc. (SII) and its subsidiaries Sabine Offshore Services, Inc (SOSI) and Sabine Shipyards, Inc (SSI) and a 25 per cent equity interest in Sabine Vessels, Inc (SVI) for a total consideration of US$6.4 million.


Reid Joins Kvichak

Photo courtesy Kvichak Marine Industries

Carol Reid has joined Kvichak Marine Industries, Inc. as their Marketing Services Manager.  In her position she is responsible for all company related marketing, promotional and advertising functions. Prior to accepting the position she was in sales and marketing at Swiftsure Yachts, a premier full service yacht brokerage in Seattle, Wa.  In addition to a lifelong involvement in boating, Carol brings to Kvichak over eight years of direct experience in the marine industry


Offshore Services Chooses MarineCFO Software

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MarineCFO Inc., a provider of Marine Software including On-Vessel, Marine Operations, Personnel, Fleet Maintenance and Financial Management Software Solutions to the Marine Transportation Industry, announced that International Offshore Services has chosen to implement the full MarineCFO Enterprise software suite. International Offshore Services, LLC was formed in 2006 by combining International Marine (started in 1996) and International Construction Group


Tauber Oil Opens West Calcasieu Port Operations

Photo: West Calcasieu Port

Tauber Oil Company of Houston has become the West Calcasieu Port’s newest tenant.    “Tauber Oil is a service-oriented wholesale energy marketing company with a reputation for reliable performance and untarnished character,” said Lynn Hohensee, port director. “The marine vessel operators along the Gulf Intracoastal Waterway and the Calcasieu River Waterway will find they now have a new first class refueling option in Southwest Louisiana.”  


Litton Integrates Marine Ops In New Company

The consolidation of marine industry assets in the U.S. has taken a rather unique twist, as Litton Industries — with a strategy of becoming the marine industry's full-service leader — announced the formation of a new company, the Litton Ship Systems Full Service Center (LSS FSC). Litton, which for years has been amassing an impressive arsenal of marine equipment builders and suppliers from around the globe, formed LSS FSC to operate as a stand-alone business within the existing Litton Ship


ZF Explores Chinese Offshore Market

ZF Marine Retractable Thruster

Marine Propulsion Systems, a business unit of ZF Friedrichshafen AG, shared at the sidelines of Marintec China 2013 that China continues to be a key focus for the company and shared plans to strengthen its footprint in the market. ZF Marine has been in China since 2006 and currently operates a sales and services office in Shanghai which serves as a competence center for all marine applications in China. With optimism slowly returning to the global offshore market


Report: UK Marine Industry has £6.2b Impact

The full economic impact of the U.K. marine industry and spend associated with boating participation was estimated to total £6.2 billion in 2012/13, according to a new report released by the British Marine Federation (BMF). Latest industry trends results also announced by the BMF show encouraging signs of an upward trend for this key contributor to the U.K. economy. The two reports are announced in a week when the U.K


Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry. Created in Houston, Texas, in 1962, MatthewsDaniel is headquartered in London and has operations in Europe, the Middle East, Asia and the Americas. The company employs more than 150 people and reported revenues of approximately EUR 34M in 2013. MatthewsDaniel primarily provides services for the insurance market


Schlumberger to Acquire Majority Stake in Eurasia Drilling

Photo: Eurasia Drilling Company

 Russia's Eurasia Drilling Company (EDC) said on Thursday it would sell a 51 percent stake in the company to the oilfield services provider, U.S.-based Schlumberger NV.   The agreement is subject to approval by the Federal Antimonopoly Service of Russia (FAS), the company said


Europe to Build Ships of the Future

Photo: University of Limerick, Ireland.

 A new European research project seeks to revolutionize the shipbuilding sector by replacing steel with composite materials for the construction of more efficient large length ships.   FIBRESHIP is an ambitious project that will allow for the construction of light commercial vessels


Workshops Address Burning Issues in a Changing World

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 A series of one day NEXT GENERATION Workshops are being held 'back to back' at the Grand Harbor hotel and conference venue overlooking the historic port of Southampton, U.K., October 24-26, 2017.   The NEXT GEN program combines a group of dynamic international presenters with panel


Engineering Entrepreneur Buys Wren Industrial

(Photo: Wren Industrial & Marine Fabrications)

Merseyside maritime company Wren Industrial & Marine Fabrications has been bought by Merseyside entrepreneur and former member of the Armed Forces Jonathan Willoughby.   Bootle-based Wren Industrial has been run for 27 years by husband and wife team David and Helen Wren


Yang Ming to Float 500 mln Shares

Photo: Yang Ming Marine Transport

 The Taiwanese ocean carrier Yang Ming Marine Transport will make a public offering of 500 million shares as part of the company's ongoing recapitalization plan, the Taiwanese ocean carrier said in a statement .  It will offer the shares to existing shareholders


Rolls-Royce Inks Service Deal with Siem Offshore, Subsea 7

Photo: Rolls-Royce

Siem Offshore and Subsea 7 have signed a joint three-year service agreement with Rolls-Royce. The agreement covers a total of 74 offshore vessels. This is the first agreement the two Siem owned companies have signed with the same service provider.  


Bureau Veritas Approves Wison's W-FSRP Concept

Photo: Wison

Wison Offshore & Marine said its newly-developed floating storage regasification and power generation barge (W-FSRP) has received Approval in Principle from Bureau Veritas. W-FSRP integrates functions of LNG loading and storage facilities, regasification and power generation.


UK Partners to Launch Autonomous Vessels Testing Service

(Photo: BAE Systems)

The U.K.'s first maritime autonomous systems testing service is set to launch later this year.   BAE Systems said it has been awarded £457,000 (approximately $594,700) in grant funding from the Solent Local Enterprise Partnership (LEP) to design and deliver the U.K


Z-Drive Collaboration on the Inland Waterways Expands

(Photo: ACBL)

American Commercial Barge Line’s leadership and early adoption of ZF Marine’s z-drive propulsion technology underscores a growing trend on the inland waterways.    American Commercial Barge Line (ACBL) has been around a long time – since 1915


Odd Lundberg Chooses Rapp Marine Winches

The new Odd Lunberg is due for delivery in 2019. (Image: Odd Lunberg AS)

Rapp Marine said it has received a new order from Odd Lundberg As, marking the third generation of owners from the shipping company who have selected its deck machinery.   “This is the first time the shipping company has selected a high-tech electrical solution


Liquid Services Celebrates 25th Anniversary

Regional tankerman service Liquid Services, LLC, is celebrating 25 years of operation on the inland waterways.   In what started as a mom and pop shop in Paducah, Ky., in 1992, has flourished into a fully licensed, bonded, and dangerous liquid endorsed tankerman service specializing in safe


Wartsila Order Intake Beats Forecast as Marine Market Revives

file image: Wartsila

Finnish ship technology and power plant maker Wartsila reported on Thursday a bigger-than-expected rise in quarterly order intake, saying the market demand had improved for its marine solution business.   * Bookings of new orders in the second quarter increased 14 percent from a year


Shell's Integrated Lubrication Solutions for World's Largest Box Ship

Photo courtesy of Shell

Orient Overseas Container Line (OOCL) has appointed Shell Marine to provide its integrated marine solutions, which include lubricants and services for OOCL Hong Kong. OOCL Hong Kong, currently plying routes between Asia and Europe, is the latest vessel to claim the title of ‘world’s


Seacroft Hires Pearce as Engineering & DP Manager

Richard Pearce (Photo: Seacroft Marine Consultants)

Aberdeen-based Seacroft Marine Consultants said it has appointed Richard Pearce as Marine Engineering and Dynamic Positioning (DP) Manager, as the firm looks to develop more specialized offshore marine projects.   Pearce brings to the role 16 years’ experience in engineering and


New Tug Joins Harley Marine Fleet

(Photo: Caterpillar Marine)

Harley Marine Services has welcomed its newest vessel, Dr Hank Kaplan, to its Puget Sound fleet on June 22. The vessel has a length of 80', a beam of 36' and a depth of 13'7" and is equipped with two 3516C marine propulsion engines that deliver a combined 5,350 HP






 
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