Asset Management News

15 Nov 2019

Brittany Ferries Consortium Buys Condor

Pic: Brittany Ferries

Condor Ferries, an operator of passenger and freight ferry services between UK and France, has been sold to a consortium including the French shipping company Brittany Ferries.Brittany Ferries, in consortium with the Columbia Threadneedle European Sustainable Infrastructure Fund (ESIF), has reached an agreement to acquire 100 percent of Condor Ferries from Macquarie Infrastructure and Real Assets (MIRA).Contracts have been signed and the deal is expected to be executed following scrutiny by relevant regulatory authorities.

18 Oct 2019

Two LNG Dual-Fuel DP Shuttle Tankers Unveiled

AET's Eagle Blane and Eagle Balder were unveiled at a naming ceremony held at the Samsung Heavy Industries (SHI) Geoje Shipyard, South Korea, today
(Photo: AET)

AET, a petroleum tanker owner and operator, has named its newest vessels, two of the world's first LNG Dual-Fuel Dynamic Positioning Shuttle Tankers (DPSTs). The vessels, the cleanest DPSTs ever built, will emit 40-48% less carbon than equivalent vessels built in 2008, meeting the International Maritime Organization's (IMO) target of reducing carbon (CO2) emissions by 40% against 2008 baselines by 2030, and halving CO2 emissions by 2050.These LNG Dual-Fuel DPSTs also emit 85% less SOx…

10 Oct 2019

APM Terminals Appoints Dennis Lenthe Olesen as MD

Photo: APM Terminals

Effective January 1, 2020, Dennis Lenthe Olesen, currently Global Head of Operations at APM Terminals, will assume the role of Managing Director for APM Terminals Nordics.This joint management structure will enable APM Terminals Aarhus and Gothenburg to strengthen collaboration and unlock operational synergies. The terminals will remain separate legal entities in Denmark and Sweden.“I am pleased to announce Dennis in this new and exciting role, as we embark on an important journey of unlocking further synergies between our two terminals and strengthening collaboration in the Nordics area”…

21 Aug 2019

Shell Charters LNG-Powered Tanker Fleet

World’s first LNG-powered crude oil tanker (courtesy of SCF Group)

Shell Tankers (Singapore) Private Ltd has agreed a long-term deal to charter a fleet of 10 LNG dual-fuel Aframax crude oil tankers from Sinokor Petrochemical Co Ltd, which expects to take delivery of them from Samsung Heavy Industries in South Korea in 2021."Shell has agreed to charter a fleet of new liquefied natural gas (LNG)-fueled crude oil and products tankers, as part of its drive to decarbonise shipping," said a press note.Separately, Shell has agreed long-term charters for four new LNG dual-fuel oil products tankers, from institutional investors advised by J.P.

16 Aug 2019

MODEC Raises $1bln Bond for FPSO Project

PSO Cidade de Mangaratiba MV24. Image: MODEC

Japanese FPSO provider MODEC has decided to issue project bonds to international investors to refinance a floating production, storage and offloading  (FPSO) vessel chartered to the TUPI consortium.TUPI consortium is led by Petrobras with the aim of strategically diversifying its financing sources for MODEC’s entire FPSO charter business.MODEC, a unit of Mitsui E&S Holdings that builds floating oil-drilling platforms, said that project bonds are issued against future revenue from…

29 Jul 2019

Containers Market to Reach $12bln by 2023

Pic: China International Marine Containers (Group) Ltd. (CIMC)

The global shipping containers market garnered $9.29 billion in 2017 and is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.Surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market, said a research report by Allied Market Research.However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth. On the other hand…

26 Jul 2019

Onex Elefsis Acuires Elefsina Shipyards

Image: Onex Elefsis Shipyards

Greece-based Onex Elefsis Shipyards announced that it will allocate up to $400 million, over a 15-year period, to purchase and finance the operation of the Elefsina Shipyards, west of Piraeus.The Greek shipyard said that the US investment firm Chatsworth Securities has agreed with it to make an investment, as part of efforts to save the complex from bankruptcy.Onex Elefsis will acquire the second biggest Shipyard in Greece, through Greek Bankruptcy Law and rehabilitation plan that is expected to be approved by the Greek Courts within 3-6 months.Also…

25 Jul 2019

Kogas, EVC Pact for Vietnam LNG Terminal

Image: ECV Holdings

South Korean public natural gas company Korea Gas Corporation (Kogas) and Vietnam-focused development and asset management company Energy Capital Vietnam (ECV) have entered into a memorandum of understanding (MOU) for the development of a privately-funded LNG regasification terminal in Vietnam.The MOU also covers the development of a storage facility, gas supply system, and a 3,200 MW gas-fired power project near Mui Ke Ga, Binh Thuan Province, Vietnam, said a press note.The MOU…

15 Jul 2019

Containers Market to Reach $12bln by 2023

Pic: A.P. Moller - Maersk

The global shipping containers market, which amassed $9.29 billion in 2017, is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.According to a report by Allied Market Research, surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market. However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth.On the other hand…

12 Jul 2019

S'hail Adds 2 Ships to Klaveness Pool

Image: Shail vessel Credit: Shail Shipping

Qatar based  S'hail Shipping and Maritime Services has added two panamax dry bulk carrier into the Baumarine pool, a specialized panamax, kamsarmax and post-panamax pool run by Torvald Klaveness.The Norwegian shipping company said in a press note that the good vessels MV S’hail al Rayan and MV S’hail al Dukhan of S’hail Shipping recently joined its pool.Head of Pool Management at Klaveness, Hans Næss Olstad explained, “With this fourth and fifth vessel in the Baumarine Pool, S’hail…

12 Jul 2019

Mainstream Names Asia-Pacific Head

Photo: Mainstream Renewable Power

Irish wind and solar projects developer Mainstream Renewable Power has appointed Raghuram Natarajan chief executive of its Asia-Pacific business."This key appointment to the Group’s Leadership Team, based out of its newly opened regional headquarters in Singapore, comes ahead of significant expansion plans for the region," said a press release.Natarajan brings a decade and a half of senior leadership experience in the wind and solar industry across India, Thailand, the Philippines…

04 Jul 2019

MAN in Global Service Deal with Wallem

Photo: MAN Energy Solutions

German solution provider to the marine and energy sectors, MAN Energy Solutions (MES) has signed a Global Key Account Management contract with Hong Kongbased Wallem Group.The contract covers the supply of spares and services to MAN main engines, generators and turbochargers aboard vessels managed by Wallem, the provider of technology-driven maritime solutions.According to a press release from Augsburg-based MES, the global agreement covers all offices of the Wallem Group and provides access to a dedicated global and local key account manager from MAN PrimeServ…

24 Jun 2019

Huelva, Enagás Launch Cold Logistics Hub

Presentation of a sustainable cold logistics hub. Photo: Port Authority of Huelva (APH)

Port Authority of Huelva (APH) and Enagás, in collaboration with HuelvaPort, presented the Sustainable Cold Logistics Hub, a project that will be launched in the South Quay of the Port of Huelva through the awarding of the corresponding tender for the construction of cold stores by companies interested in participating."The logistics centre will enhance the competitiveness of the South Quay and its intermodal terminal, providing infrastructures prepared for the booming market of temperature-controlled goods in an extremely well-positioned port…

12 Jun 2019

Helm Connect Hits 4,000 Vessel Mark

Logo: Helm

Helm Operations has announced that it has surpassed the 4000 vessel mark on its maritime asset management and operations platform, Helm CONNECT. Since launching Helm CONNECT in July 2016, more than 1000 vessels have joined the platform each year, with the 4000 vessel mark reached earlier this month.This milestone coincides with Helm Operations’ 20th year as a company.

16 May 2019

Shea to Receive 2019 Connie Award

Bill Shea (Photo: CII)

William J. “Bill” Shea, Jr. to Receive 2019 Connie Award in Long Beach, CAJ. Christopher Lytle to Be Honored with the Lifetime Achievement AwardWilliam J. “Bill” Shea, Jr., Chief Executive Officer of Direct ChassisLink Inc. (DCLI), will receive the 2019 Connie Award presented by the Containerization and Intermodal Institute on September 17. The industry-wide event to honor Mr. Shea will be held at the Renaissance Hotel in Long Beach, CA.In his current position, Mr. Shea has been…

16 May 2019

Voith Intros Online Digital Platform

Image: Voith Group

German engineering firm Voith has rolled out online platform 'MyVoith' for digital applications and services."MyVoith is a global platform that brings together the company’s digital services and business-related information in one location. The platform offers users personalized access to their applications, services and data from the Voith world," it said in a release.These include industry-specific webshops, asset management solutions and further self-service applications, as well as the Voith IIoT (Industrial Internet of Things) applications and services.

24 Apr 2019

Seagull Maritime Acquires Tero Marine

Photo courtesy of Seagull Maritime

Seagull Maritime announced that they have acquired a majority of the shares in Tero Marine. Tero Marine, headquartered in Bergen, Norway, has developed fleet management software for the shipping industry for more than three decades. The company’s flagship, TM Master, is recognized as one of the leading brands in the business. Today, TM Master is a crucial tool for shipowners all over the world, not only as an instrument for planned maintenance (and asset management), but also as a business intelligence resource.Tero Marine is growing fast and has currently more than 55 employees…

18 Apr 2019

Keppel Posts Lower Profits

Pic: Keppel Corporation

The Singaporean offshore and marine conglomerate Keppel Corporation reported a net profit of S$203 million (USD 150mln) for the first three months of 2019, 40% below that of S$337 million for 1Q 2018.In 1Q 2018, the Group benefitted from a S$289 million gain arising from the en-bloc sale of Keppel Cove in Zhongshan, China as compared to gains of S$174 million in the current period from the divestment of a 70% interest in Dong Nai Waterfront City, Vietnam and the re-measurement of previously held interests in M1 Limited (M1) at acquisition date.The Group achieved revenue of S$1…

16 Apr 2019

Frank Coles Charts New Strategy for Wallem

Pic: Wallem Group Limited

The maritime solutions company with expertise in ship management Wallem said that it  has updated its corporate identity to mark the beginning of a shift in its service offering that will harness the latest technology to improve asset management transparency and efficiency in a program intended to transform the relationship between owners and their shipsHong Kong headquartered Wallem Group is changing itself and its brand to support the maritime industry as it undergoes a structural…

04 Mar 2019

Peter Döhle Sells Hammonia Reederei

Pic: Hammonia Reederei

Hamburg-based provider of shipping services Peter Döhle and Ernst Russ are selling ship management company Hammonia Reederei  to  Scandinavian investors, Ness Risan and Partners (NRP), a Norwegian investment fund and former owners of Containerships Group, Finland.With the transaction, Ernst Russ follows its strategy and further focuses on activities in asset investment and asset management in shipping and real estate, said a release from Ernst Russ AG, a listed asset and investment management company in Germany with a focus on maritime business.Prospectively…

26 Feb 2019

Rolls-Royce EMS for Nine Havila Vessels

Photo courtesy of Rolls-Royce

Rolls-Royce Commercial Marine has been awarded a contract to install its next generation Energy Management System across nine vessels in the Havila Shipping fleet: four anchor handling tug supply (AHTS) ships, four platform supply vessels (PSV) and one rescue and recovery vessel (RRV).The Energy Management System (EMS) was first introduced in November 2017 by Rolls-Royce, as part of a suite of vessel Intelligent Asset Management (IAM) products, and has since then been installed…

25 Feb 2019

PPG Launches PPG AIM in U.S., Canada

Photo: PPG

PPG announced that its protective and marine coatings business (PPG-PMC) has introduced the PPG ASSET INTEGRITY MANAGEMENT (PPG AIM) system in the United States and Canada. This software-based asset management system assists facility owners, managers and maintenance engineers in scheduling, budgeting and optimizing the corrosion protection of metal structures, buildings and equipment under their care for up to 20 years in the future.The PPG AIM system is based on proprietary algorithms developed by PPG from NACE 509 and ISO 12944® corrosion-forecasting standards.

20 Feb 2019

Navios Names Two Directors

File Pic: Navios Maritime Containers

Monaco-based seaborne shipping company Navios Maritime Containers  announced the appointment of Stefan Kuch and Vasilios Mouyis to its Board of Directors.The owner and operator of container ships informed that Kuch has over 32 years of experience in finance and ship finance, having served in senior leadership positions in the shipping division of Commerzbank AG, one of Germany’s leading financial institutions.He also served as Managing Director of Hanseatic Ship Asset Management GmbH, a vessel-owning company within the Commerzbank Group.

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

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