Marine Link
Saturday, October 21, 2017

Expansion Plans

ISS wins global Hurtigruten contract

ISS has won a global port agency contract with Hurtigruten, a world leader in expedition travel Photo ISS.

Inchcape Shipping Services (ISS), the world’s leading maritime and logistics service provider, has won a global port agency contract with Hurtigruten, a world leader in expedition travel. The new business sees ISS providing Hurtigruten with port agency services across the globe for up to four years, as well as helping to support and advise the company with the management of its rapid worldwide expansion plans. In addition, ISS will provide hands-on advice on hotel operations, shore excursions and itinerary planning. As the world leader in expedition cruises, Hurtigruten operates along Norway’s western and northern coast and also offers explorer cruises to Antarctica, Greenland and Iceland. The company’s current growth plans include major expansion for its Antarctica operation for the 2018 season, featuring three vessels, plus focus on its Canadian Arctic operation. An even more extensive programme in Extreme Northern Europe and new warm water programmes are also in the pipeline. ISS’ global network will ensure Hurtigruten has consistent, compliant and reliable port agency services in some of the world’s most remote and challenging ports from Spitsbergen to South Georgia, and Antarctic landings in isolated locations. ISS’ Cruise Hub in Greece will oversee the smooth set up and operation of Hurtigruten’s port agency as well as analyse key data from YourISS2, ISS’ comprehensive port agency management application

Kursiu Linija Sells Eimskip Share

Kursiu Linija sold a further 20-percent share of its equity to Icelandic transport company Eimskip. The move gives Kursiu Linija additional financial power and paves the way for expansion plans. Following the increase in Eimskip’s stake, Kursiu Linija will be run by a four-man board consisting of Bragi Thor Marinosson, Bjorn Einarsson, Stefan August Magnusson and Kursiu Linija founder and former managing director Arijus Ramonas

Griffin Makes New Appointment

The Griffin Global Group Ltd., with the goal of increasing product portfolio, announced the expansion of its corporate business with the appointment of John Prentice as director of Corporate Services. Griffin’s Corporate department will be targeting the offshore and shipping sectors, but do have expansion plans further down the line. Prentice started in the travel business with Air New Zealand. He then came to the United Kingdom and spent 10 years with British Airways

Dolphin Offshore Lines up Investments

Dolphin Offshore Enterprises (India) Ltd., an offshore construction and ship repair company for the oil and gas industry, has lined up investments worth Rs 1,000 crore over the next 5-6 years, a senior company official said. Dolphin has already invested $35m in the initial expansion plans like acquiring ships. Offshore construction being its main focus, Dolphin is looking at moving up the value chain with bigger contracts and would invest Rs 200 crore for expansion in this field.

Costa Deliziosa Completes Her Technical Launch

Costa-Luminosa_Costa-Delizi.jpg

Costa Cruises, Italian tourism group and European cruise company, and Fincantieri celebrated the technical launch of the Costa Deliziosa at the Marghera yards: the first time the ship touched the sea flooding the dry-dock where she is under construction. The Costa Deliziosa, the 15th ship of Costa’s fleet with a total tonnage of 92,700 and a capacity of 2,828 passengers, is scheduled to be delivered at the end of January 2010, after completing the interior fitting out operations

Suez Canal: Better Service to the Shipping Industry

Photo courtesy of Suez Canal Authority

According to the U.S. Energy Information Agency, one of the world’s oil transit choke-points is the Suez Canal, the Panama Canal being another. However, the recently announced Suez Canal expansion plans are more likely to cater for containership transits, in strong competition with the expanding Panama Canal, rather than respond to the demand from oil tanker transits. On Tuesday, August 5, 2014, the Egyptian President Abdel Fattah el-Sisi unveiled the project

Daewoo Shipbuilding Projections 2007 Soar

In a sure sign that the shipbuilding boom continues, Daewoo Shipbuilding & Marine Engineering Co. announced that it has raised its yearly new order target to $17B, after surpassing its previous projection of $11B with orders for 13 new containerships from European owners. The containership order – worth almost $1.8B – sent the shipbuilder’s take this year to $11B and 84 vessels and offshore projects. The rise in the yearly projection from $11 to $17B is a nearly 55% increase compared to last

ACB Unveils Expansion Plans

Aluminum Chambered Boats (ACB) signed a Letter of Intent (LOI) with Jansen Inc. to have a new manufacturing facility built in Ferndale, Wash. Jansen Inc. will provide ACB with a turn-key 190,000 sq ft manufacturing facility plus a separate 10,000 sq ft. general office building on the I-5 Industrial Center property in Ferndale. The new facility will allow ACB to increase their annual production capacity to 400 boats to meet the current and future demands of their growing recreational, commercial

P&O, Festival Squash Consolidation Plans

Citing, among other factors, a lackluster market for cruise shares on the U.S. stock exchange, P&O said it and Festival Cruises decided not to pursue the merger of their cruises businesses due to the continuing low valuations of cruise companies in the United States. The groups announced in May a deal to combine businesses as part of Peninsular and Oriental Steam Navigation cruises division in a deal worth up to $600 million.

Hyundai Engineering Falls on Concerns of Sale Delay

Hyundai Engineering & Construction Co., fell the most in almost five months in Seoul on concern Korea Development Bank may delay selling its stock in the company, holding up expansion plans, according to Bloomberg.com. Hyundai Engineering declined 7.5 percent to close at 89,500 in Seoul. Daewoo Shipbuilding & Engineering Co., also part-owned by state-owned Korea Development Bank, fell 5.2 percent to 44,550 won, the biggest drop in more than a month.

Viking Ocean Cruises Extends Order at Fincantieri

Viking Ocean Cruises and Fincantieri signed a memorandum of agreement for the construction of two additional cruise ships, with an option for another two.   The new builds will be sister ships to the six already ordered and will enter Viking fleet in 2021 and 2022, respectively. The final contracts will become effective upon the fulfillment of financing and other customary closing conditions.    The new ships will follow the same design as the current ships ordered and in

Seanergy Maritime Reports Q1 Results, Acquires Vessel

Photo: Seanergy Maritime

 For the quarter ended March 31, 2017, Seanergy Maritime Holdings Corp generated net revenues of $13.3 million, a 90% increase versus the same period 2016.    As of March 31, 2017, stockholders’ equity was $26.7 million and cash and cash equivalents, including restricted cash was $6.9 million.   Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “In March 2017, pursuant to our prudent fleet expansion plan

Gulf Navigation Issuing $250 million in Bonds by September

Dubai's Gulf Navigation Holding , a listed shipping firm, plans to issue $250 million in sukuk, or Islamic bonds, in late August or early September, the group's chief executive said on Monday.   The company has appointed First Abu Dhabi Bank to lead the transaction, the proceedings of which will be used to back the company's expansion plans, Khamis Juma Buamim told reporters at a press conference.   Gulf Navigation is targeting revenue growth of 300 percent by 2021, the CEO said

Konecranes for Bharat Mumbai Container Terminals

Goliath Gantry Crane. Photo: Konecranes

 Bharat Mumbai Container Terminals Pte Ltd (BMCT), a wholly owned subsidiary of PSA International Pte Ltd (PSA), exercised its option to purchase a further 18 Konecranes Noell Rubber Tired Gantry (RTG) cranes.   This order follows upon an initial order for 18 RTG and 4 RMG cranes that will be delivered by the end of this year. The 18 RTGs currently on order will be delivered in two lots: 9 units will be delivered by August 2018, and the remaining 9 by end-2018

India to Develop Paradip as World-Class Smart Port City

Photo by Paradip Port Trust

  The Ministry of Shipping is planning to develop Paradip as a world class, globally competitive, smart industrial Port City, Joint Secretary (Ports) Pravir Kishn said.   The rationale behind developing Paradip as a smart city is that it already has a Major Port and strong mineral resource presence in the region. These factors will make Paradip a hub for Micro Small & Medium Enterprises (MSME).  

MV Werften Selects MAN Engines for New Cruise Ships

Global Class ship (Image: MAN Diesel & Turbo)

 MAN Diesel & Turbo and MV Werften have concluded a contract to equip two Global Class cruise ships for Star Cruises. With a registered tonnage (RT) of 200,000 tons each, the ships will be some of the largest on the market and will each be equipped with six type 48/60CR engines with a combined output of 96,000 kW. The ships are scheduled for delivery in 2020 and 2021.   The customer and recipient of these ocean-going giants, which will operate in China and all over Asia

King Abdullah Port Hits New Milestone

Photo courtesy: King Abdullah Port

 The infrastructure works for Berth 5 and Berth 6 are about to be finished in a few weeks, King Abdullah Port announced.    The two berths are part of the port’s strategic expansion plan, which aims to significantly uprate the port’s capacity, thus boosting its standing in the maritime industry, both regionally and internationally.   “With the two new berths, the port’s annual capacity will rise to four million TEU as of the beginning of the

TTS Worldwide is OL USA

Cargo ships entering one busiest ports in world Singapore Photo OL International Holdings

OL International Holdings LLC (OL International) today announced the renaming and rebranding of TTS Worldwide as OL USA. Effective February 1st, 2017, the change is the latest and most symbolic development in an aggressive, multi-year strategic expansion plan for OL International’s businesses – now with representatives on the ground in over 140 countries. The announcement follows quickly on the heels of the launch of OL South Africa and OL Dubai in recent months.

Shipbuilding Looks Up in India

Photo: PIB, Govt of India

 Global recession in the shipbuilding industry has affected the financial position of a number of yards especially in the private sector.    Due to market downturn post 2008 and the lack of government policy support, all shipyards other than the defense shipyards are facing challenging times with very few global shipbuilding orders coming in.    The Indian shipbuilding industry has continued to concentrate on defense and offshore sector vessels

Port Klang's throughput surge to 13.2m TEU

Table showing Performance

Port Klang Authority stated that Port Klang registered a positive growth of 10.8% in 2016 in container handling compared to 2015 with a total of 13,169,577 TEU’s, Northport handled 3,223,544 TEU’s while Westports handled 9,946,033 TEU’s. In terms of import container throughput, Port Klang handled 2,063,736 TEU’s,registering growth of 3.6 % compared to 2015’s performance - Northport handled 802,993 TEU’s while Westports handled 1,260,743 TEU’s in 2016

Abu Dhabi Ship Building Adds New Dry Dock

Photo: Abu Dhabi Ship Building

Abu Dhabi Ship Building PJSC (ADSB) held a ceremony to inaugurate its new floating dry dock at its location in Zayed Port. The floating dock, which began servicing vessels in July 2016, has greatly enhanced ADSB’s commercial service offering, allowing the company to service larger ships and tap into new customers in industries such as oil and gas, the company said. To date, the dry dock has received 20 customers for routine dry docking, electrical and mechanical works. 

Lloyd’s Register Sets Its Sights Subsea

Andrew Inglis (Photo: Lloyds Register)

Eying a subsea sector rebound, Lloyd’s Register (LR) aims to bring its expertise to underwater operations in offshore oil and gas as well as wind farm power generation and submarine cable markets.   The provider of integrity, compliance and specialist risk consulting services has launched Subsea Inspection Services, which it said will support underwater inspections of subsea pipelines, assets and facilities to energy companies operating offshore.  

Container Volumes zoom at Virginia Port

Details Courtesy Port of Virginia

The Port of Virginia moved 228,516 twenty-foot equivalent units (TEUs) in January, setting a new volume mark for the month, growing volume by 18.5 percent when compared with last January and pushing the fiscal-year-to-date growth to 8 percent.The port handled the heavy volume despite two lost workdays in January that were the result of a heavy snow at the start of the month. The continued growth comes as the port prepares to begin work on its three-year capacity expansion plan at Virginia

Marlink Announced as Telenor Satellite’s Platinum Partner

Telenor Satellite has announced that Marlink, a worldwide satellite communications provider, has been assigned Platinum Service Provider status for the provision of services on the THOR 7 satellite.   Marlink is now integrating its full range of Value Added Services into the THOR 7 product offering, providing high-throughput connectivity to Marlink’s regional vessels across all its market segments, ranging from fishing and commercial shipping to high-end yachts and passenger

Port of Virginia Expansion Work is Underway at VIG

Photo: Port of Virginia

 The Port of Virginia moved 220,376 twenty-foot equivalent units (TEUs) in February, 351 TEUs lower than February 2016, but placing its fiscal-year-to-date growth at 6.9 percent.   The continued growth comes as the port has started the engineering and survey work on its capacity expansion plan at Virginia International Gateway (VIG); work at Norfolk International Terminals will begin this summer.   

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

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