SAAM Acquires Intertug
Chilean logistics company SAAM has struck a deal to buy Intertug Investment Holding, a towage services company with operations in Colombia, Mexico and Honduras.SAAM will spend $54.5 million for 70% of Intertug, based on an enterprise value of $98 million, and carry out the acquisition through a capital increase and a share purchase, it said in a stock market exchange announcement.Intertug's 25-vessel fleet logs more than 18,000 maneuvers a year, generating around US$44 million in towage service revenue annually.The partnership with Intertug allows us to enter Colombia…
Svitzer Appoints Americas MD
Maersk's towage operator arm Svitzer announced on Thursday it has appointed Arjen Van Dijk as its new Regional Managing Director (MD) for the Americas region, effective February 1, 2020.Van Dijk is taking over from Marc Niederer, who has decided to step down due to personal reasons and is currently considering various options for his future role, the company said.Van Dijk joined Svitzer in July 2019 as regional CCO and is now advancing to Regional MD. With more than 15 years in global shipping and transportation…
Kalmar Hybrid RTGs for Argentina
Kalmar, the provider of cargo-handling solutions and services to ports and terminals, is delivering two rubber-tyred gantry cranes (RTGs) with hybrid drivelines for Exolgan S.A. container terminal in Buenos Aires, Argentina.The order that follows the delivery of four hybrid RTGs to the terminal this December, was booked in Cargotec's 2019 Q4 order intake with delivery scheduled to take place in late 2020, said a press release from the unit of Cargotec.The Exolgan terminal in Buenos Aires is a container-handling port terminal with strategic road, rail and river transport connections.
SAAM Towage to Enter El Salvador Market
Latest move to Enter El Salvador with Energía del Pacífico will Reinforce SAAM Towage's Presence in Central America.The Managing Director of SAAM Towage, Felipe Rioja, celebrated the company’s upcoming launch in the new market: El Salvador. “We will provide services for the Energía del Pacífico (EDP) project at the Port of Acajutla, which reinforces our presence in Central America and our commitment to the region,” he commented.The long-term agreement with EDP calls for allocating three tugs, two of which are new, to power plant operations.
INSIGHTS: Sean Fernstrum, President, R.W. Fernstrum
This month, listen in as Sean Fernstrum weighs in on how his firm arrived at its enviable market position, what comes next, and why.Sean Fernstrum is a third-generation owner of R.W Fernstrum & Company. He graduated from Michigan Technological University in 1990 with a Bachelor of Science degree in Scientific and Technical Communications. After college, he came home to Menominee, Michigan and began working as a Technical Writer at R.W. Fernstrum & Company. He has been President of the company for the last 8 years.
Rolls-Royce, RAL Collaborate on LNG Pushboat
Rolls-Royce and Canadian vessel designers Robert Allan have developed the world's first shallow-water push boat powered by LNG natural gas engines. DNV GL gave its “Approval in Principle” to the new design at the International Workboat Show in New Orleans. “The interest of the market regarding the design study of Robert Allan and Rolls-Royce confirms that the decision was right to develop a lean-burn gas engine. We have found operators across the globe who have seen the benefits of operational costs in addition to the reduction of environmental impact…
Offshore: OSV Market Report
The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic slowdown – whether cyclical or induced by a trade war – have weighed heavily on oil prices, even in the face of reduced production by the big producers. Though storm clouds persist, there appears a clearing on the horizon.The fate of Offshore Service Vessels (OSVs) is, naturally, closely tied to the price of oil. Seacor Marine’s John Gellert, in reviewing its Q2 results, said: “Activity levels in the U.S.
Port Operator ICTSI to Double Capacity at Congo Terminal
Philippines-based port operator International Container Terminal Services Inc. (ICTSI) will more than double the capacity of its container terminal in Congo as part of a $100 million expansion, the company said on Thursday.Located on the Congo River, the port city of Matadi, where ICTSI operates the Matadi Gateway Terminal (MGT) under a joint venture with Congolese property management company SIMOBILE, is the Democratic Republic of Congo's primary shipping hub.The planned expansion will bring MGT's throughput capacity up to 400…
Joseph Angelo Awarded Global Maritime Prize
The prestigious International Maritime Prize for 2018 has been presented to Joseph J. Angelo, a former United States Coast Guard (USCG) and International Association of Independent Tanker Owners (INTERTANKO) senior executive who participated in International Maritime Organization (IMO) meetings for many years, providing leadership on a number of key regulatory developments.IMO Secretary-General Kitack Lim presented the prize on Monday (25 November) at the annual IMO Awards ceremony.
"Narcosubmarine" a First for Europe -Spanish Officials
The discovery of a submarine carrying 3,000 kg (3.3 tons) of cocaine off the coast of Spain marks a "historic" turning point in the battle against drug trafficking, Spanish authorities said on Wednesday.Police described it as the first "narcosubmarine" to be intercepted in Europe, adding in a statement that it had been found in waters off the northwestern region of Galicia on Saturday, stuffed with 152 neatly-wrapped bales of cocaine.The estimated street value of the drugs is 100 million euros ($110.22 million)…
MJP Appoints Regional Director for Americas
Marine Jet Power (MJP) has appointed Michael Rickey as President and Regional Director of Marine Jet Power, Inc. effective as of December, 2. Rickey will be responsible for business development in the Americas region, where the company holds a corporate office in Blacklick, Ohio.Prior to joining MJP, Rickey enjoyed a 24-year career with American Honda, where he began in 1995 as an assistant manager for export sales. Since then, he has served in several senior roles within the organization from operational to business development. Most recently serving as Senior Manager for Honda Marine.
Interview: Boriana Farrar, Ship Owners Claims Bureau
Boriana Farrar is a familiar face in maritime circles, the Vice President and Counsel and a Senior Claims Executive and Business Development Director for the Americas at the Ship Owners Claims Bureau, Inc. managers of the American P&I Club. We met with her in her NYC office to discuss her path from her native Bulgaria to a top maritime professional position.When Boriana Farrar moved from her native Bulgaria to the United States in 2001, she did so to be close to family, her mother and her sister who had already established a life in the U.S., some 5,000 miles from her homeland.
Epic Gas Buys 11,000 CBM Vessel
Epic Gas Shipping Company, which owns and operates a fleet of fully pressurized gas carriers, has announced the acquisition of 2015-built 11,000 cbm LPG carrier Epic Sicily.The Singapore-based LPG carrier operator said that the vessel, Epic Sicily, is built by the Sasaki Shipbuilding Co. Ltd. of Japan in 2015.The vessel has been on bareboat charter-in since Feb 2015 and Epic Gas is now exercising the purchase option under the charter contract. Finance of 60% of the acquisition cost comes from Epic Gas’s recently closed refinancing…
CEVA Logistics Opens Marseille HQ
On the occasion of his visit to Marseille for the National Industry Council, Prime Minister Edouard Philippe came to inaugurate the new global headquarters of CEVA Logistics, a subsidiary of the CMA CGM Group, with Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group.The Prime Minister was accompanied by Elisabeth Borne, Minister for the Ecological and Inclusive Transition, the President of the South Region, Renaud Muselier, and Nicolas Sartini, Chief Executive Officer of CEVA Logistics.With the acquisition of CEVA Logistics in May 2019…
First Commercial Cargo Loaded from Tango FLNG
Argentine oil company YPF SA has loaded its first commercial liquefied natural gas (LNG) cargo for export from a new floating facility, trade sources said on Friday.Argentina's export joins a wave of new supply flooding the spot market which has depressed Asian spot prices to their lowest in a decade for this time of the year.The state-owned firm issued a tender which closed on Nov. 6 to sell 2.1 trillion British thermal unit (Tbtu) of LNG for loading from FLNG Tango, the liquefaction vessel off Bahia Blanca…
LNG Terminals Market to Grow 3% by 2022
The large-scale LNG terminals market size is expected to post a CAGR of close to 3% during the period 2018-2022, according to the latest market research report by Technavio.The rising demand for clean fuels is one of the major reasons for the growth of the large-scale LNG terminals market. Fossil fuels constitute a major source of energy to cater to the demands from the residential, commercial, and industrial sectors. However, they result in heavy emissions of CO2 and other greenhouse…
Changes to Volvo Penta Executive Group Announced
After 26 years with Volvo and 7 as President of Volvo Penta Americas, Ron Huibers has decided to retire from his current role and move to another role within Volvo Penta. Succeeding Ron will be Martin Bjuve, currently CFO and SVP Business Office Volvo Penta. Planned transition date will be January 1, 2020. Bjorn Ingemanson, President and CEO Volvo Penta, today announced that Ron Huibers, President Volvo Penta Americas, has decided to retire from his current role and take up a new role within the company. "The team, customers and industries we serve here have been exciting and rewarding.
C-Job CEO Basjan Faber was Born to Design
Born and raised on the water by entrepreneurial parents, Basjan Faber knew from a young age that his future and fate was in maritime, specifically ship design. Today the CEO leads a vibrant, diverse and fast-growing naval architecture firm that he co-founded with partners in 2007. Headquartered in Amsterdam, C-Job has a unique approach to its business and is expanding its international footprint, as Maritime Reporter & Engineering News discovered when we visited with him in The Netherlands last month.“I have always been inspired by ships…
Kalmar Supplies Hybrid Shuttle Carriers to Virginia Port
Kalmar, part of Cargotec, has announced that it will supply 25 Kalmar Hybrid Shuttle Carriers to the Port of Virginia, a growing, deep water port on the U.S. East Coast.The $23 million (USD) order was booked in Cargotec's 2019 Q3 order intake, and represents the exercising of a contract option for further units that was agreed upon in 2017. Delivery of the new machines is scheduled to be completed by the end of July 2020.The new units will be delivered to Norfolk International Terminals (NIT)…
U.S. Shipping Sanctions Give Boost to EU Refiners
U.S. sanctions imposed last month on subsidiaries of vast Chinese shipping fleet Cosco have given an unexpected boost to European refiners as less crude oil from the North Sea and West Africa heads east, traders and analysts said.Freight rates have soared as oil producers scramble for non-blacklisted vessels, discouraging longer-distance voyages.Complex refining margins for advanced facilities capable of extracting even more valuable products like diesel and gasoline, have been especially strong in Europe, industry sources said.The U.S.
SHORTSEA SHIPPING: All the Right Moves (Finally)
Marine Highways Gain Traction in the Intermodal Supply Chain.In the United States, landside infrastructure is at a crisis point. Congestion at the big hub ports, exacerbated by imperfect intermodal interfaces with surface transport serving cargo hinterlands is at the heart of the matter. As politicians bicker over a possible infrastructure package, the Highway Trust Fund, funded by taxes on gasoline and diesel fuel, has continued its downward journey towards further deficits (now $144 billion). And, where countless U.S.
DP World Becomes a Full Logistics Operator in Peru
DP World, a Dubai-based global port operator, announced that it has expanded its business in Peru into a fully-integrated maritime and logistics operation.It has completed the development of the first phase of the deepwater port of Posorja in Ecuador for around $538 million. The whole project is estimated to cost around $1.2 billion.The development of the port by DP World will make Ecuador a trade and logistics hub for South America’s west coast. It will also see large container ships with capabilities exceeding 10…
Dachser Opens Argentina, Chile Offices
Due to the continuous growth of its South American operations, global logistics provider Dachser recently relocated both its Buenos Aires, Argentina regional office as well as its Santiago, Chile regional office to larger facilities.“The business in both Argentina and Chile is expanding and we simply outgrew our offices in these countries. We needed more employees, equipment and space to properly handle the business we have today as well as prepare for the growth we anticipate in these markets,” said Guido Gries, Managing Director Dachser Americas.