Asset Management News

Shipowner and shipping fund manager Pelagic Partners announced it has teamed up with asset management firm Borealis Maritime to invest in a pair of platform supply vessels (PSV).Built in 2021, the 89-meter Aurora Coey – formerly Viking Coey – and Aurora Cooper – ex-Viking Cooper – are both dual-fuel and capable of operating on liquefied natural gas (LNG), as well as being ammonia-ready. The ice-class sister vessels are fitted with hybrid battery power, and Low Loss Concept (LLC) solutions that further reduce emissions…

MAN Energy Solutions, MAN Energy Solutions USA and Carnival Corporation & plc, the world’s largest cruise company, have signed a service agreement (LTSA) for five of Carnival’s Vista Class cruise ships powered by MAN 48/60CR type engines. The scope of the agreement covers the management of all maintenance, including planning, parts, technical advisory service, training and remote monitoring support. MAN Energy Solutions will manage the agreement via MAN PrimeServ, its after-sales brand.Riccardo Cordara…

Kongsberg Maritime has secured a contract with Ulstein Verft for the supply of an extensive equipment package for four wind farm commissioning service operation vessels (CSOV), two for Bernhard Schulte Offshore and two for J.P. Morgan Asset Management.The 90-meter vessels are being built at Ulstein Verft, to the ULSTEIN SX222 design. Kongsberg Maritime will supply the same range of equipment to all four vessels.Bernhard Schulte Offshore Orders Two Ulstein CSOVsUlstein Inks Deals…

Demand for data that can inform strategies for asset management and performance monitoring is driving the wider adoption of digital tools in shipbuilding. Vessel designers are increasingly able to employ a software-driven approach that creates efficiencies and satisfies compliance.Shipowners want visibility on assets over their lifecycle, and as the era of planned maintenance routines gives way to predictive interventions, shipyards are turning to 3D models to create digital twins…

Norwegian shipbuilder Ulstein Verft has signed contracts with J.P. Morgan Asset Management for offshore wind Construction Service Operation Vessel (CSOV) newbuilds.In 2023, Bernhard Schulte Offshore ordered the design and construction of two such vessels from Ulstein under a contract which included options for two plus two vessels.These options have been transferred to institutional investors advised by J.P. Morgan Asset Management, who declared the first two.The CSOVs will be…

Latest advances in digital technologies and faster, cheaper connectivity walk hand-in-hand as vessel owners of all sizes aim to cut fuel consumption, cut emissions and increase efficiencies. AST is aiming to do both, offering connectivity plus a suite of productivity solutions courtesy of its new Integrated Remote Asset Management System (IRAMS) solution, as CEO Andrew Peters explains.The maritime industry is often lamented as slow on the uptake of new technologies, but many of these boats and ships were born and raised in an analog society, designed to last up to 50 years.

Applied Satellite Technology (AST) has launched its Integrated Remote Asset Management System (IRAMS).IRAMS is designed to address the challenges faced by industries such as oil and gas, maritime, renewables and utilities, where maritime assets are in remote and often harsh environments. With IRAMS, users can remotely control and monitor assets. IRAMS brings together live asset performance data, predictive maintenance scheduling and environmental impact reporting onto one single platform.

Silverstream Technologies appointed Catriona Savage into the newly created position of Chief Technology Officer (CTO). Savage will lead the continued development of the innovative Silverstream System and will further develop the technical centre-of-excellence built by Silverstream Technologies. The new role will lead on Product Development and Application Engineering and all aspects of product quality, safety and performance.Savage joins Silverstream following a career at BMT as Technical Assurance and Capability Director…

Singapore's Keppel Corp KPLM.SI on Thursday reported a more than seven-fold jump in its first-half profit boosted by a one-off gain from the sale of its offshore and marine (O&M) unit and strong performance from the infrastructure business.Keppel sold its offshore and marine business in February for S$4.50 billion ($3.40 billion) to Sembcorp Marine, recognising a gain of S$3.3 billion, as it aims to transform into an asset manager overseeing $150 billion by 2030 and focus on green energy.It managed S$53.2 billion in funds as of June 30.In May…

Australian financial conglomerate Macquarie Group said on Thursday it would divest its U.S.-based port terminal operator Ceres Terminals, with a source familiar with the matter placing the deal value north of $900 million.Macquarie did not disclose any further details on the deal, and declined to comment on Reuters' request seeking confirmation of the sale value.The Wall Street Journal in May reported that Macquarie was looking for about $1 billion from the sale, citing sources familiar with the matter.The deal value could be at the lower end of what the Wall Street Journal reported…

Cloud enterprise software company IFS said Tuesday that Havfram, the Norwegian offshore wind company with its two subsidiaries Havfram Wind and Kontiki Winds, has chosen to implement IFS Cloud.Havfram opted for the solutions to manage the urgent needs around its subsidiaries` core businesses, such as the transport, installation of wind turbines and development of offshore wind farms.Bjørn Ola Smievoll, VP IT, Havfram, said: "The choice of IFS Cloud as an ERP solution was largely…

Danish shipowner NORDEN has recently placed a newbuilding order for six dry cargo vessels from Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), a joint venture between COSCO Shipping and Kawasaki Heavy Industries, for delivery in the next two to three years. All six orders are for Supramax vessels with a capacity of 64,000 deadweight tonnes.NORDEN's Head of Asset Management, Henrik Lykkegaard Madsen, said, “Placing this newbuilding order is an integrated part of our asset trading strategy…

Unions hope a $30 million grant to electrify tractors in a Long Beach, California, port terminal's final push to become the world's first zero-emissions facility will serve as a bulwark against lost jobs in an era of energy transition and increasing automation. The money from U.S. President Joe Biden's administration for Long Beach Container Terminal's purchase of 60 electric yard tractors that haul shipping containers from stacks to waiting trains comes with strings attached…

Market drivers have created a significant opportunity for Wallem to grow a specialised area of business, according to Capt. Anurag Mathur, Managing Director, Commercial Services, Wallem Group.Wallem’s portfolio of commercial services is ideally placed for expansion across a full range of vessel types, according to the executive appointed to drive for growth in January 2023. And Capt. Anurag Mathur, whose previous roles include senior managing directorships at leading ship owning and ship management companies…

A new service operation vessel (SOV) has arrived at Scotland's Montrose Port, home to Seagreen offshore wind farm’s operations and maintenance base, SSE Renewables, a partner in the offshore wind farm project has informed.The 82-meter-long Edda Brint has been designed and built to order for offshore wind operations at Seagreen, the world's deepest fixed-bottom wind farm.The vessel can accommodate up to 60 personnel in separate high-standard cabins, and features a motion-compensated gangway system enabling it to land on any kind of offshore facility.The Edda Brint…

Florida Marine Transporters LLC Holdings has completed a refinancing with  a unit of TCW Asset Management Company LLC.Investment bank Carl Marks Advisors announced it facilitated the transaction.FMT, headquartered in Mandeville, La., is one of America’s largest independent, family-owned, Jones-Act-compliant marine transportation companies, providing liquid petrochemical, chemical cargo, and dry cargo transportation services in the inland waterways of the United States, primarily the Gulf intercoastal Waterway and Mississippi River System.

International trade by sea has long been a key part of the world economy and approximately 90% of traded commodities is reliant on shipping. Once wind-propelled in the days of sail, the current generation of ships now heavily rely on fossil fuels. Fossil fuel propulsion contributes to global warming with carbon emissions approximating 940 MtCO2e per year and also has health implications for communities surrounding ports through the release of air pollutants. The environmental impact of fossil-fuelled engines is further compounded by their use in port infrastructure…

The Höegh Esperanza floating storage and regasification unit (FSRU), for Germany's first LNG terminal, has arrived in Wilhelmshaven, Germany, Uniper has informed."The arrival of the FSRU marks an important milestone shortly before the opening of Germany's first LNG terminal on December 17, 2022," Uniper said.The FSRU was previously loaded with around 165,000m³ of liquefied natural gas (LNG) in Spain - enough to supply around 50,000 - 80,000 German households for a year. While it did bring the LNG, from now on, Höegh Esperanza will no longer bring the LNG to Wilhelmshaven itself. Its task is to regasify LNG delivered by other LNG carriers and to feed at least five bcm of natural gas into the German gas grid each year.

China's exports rose at the fastest pace in five months in June as factories revved up after the lifting of COVID lockowns, but a sharp slowdown in imports, fresh virus flare-ups and a darkening global outlook pointed to a bumpy road ahead for the economy.Analysts say the rebound in exports reflected an easing of supply chain disruptions and port congestion that hammered the world's second-largest economy in spring when the government rolled out widespread lockdowns.Outbound shipments in June rose 17.9% from a year earlier…

Singaporean conglomerate Keppel Corp on Thursday reported a first-half profit that rose 66%, helped by higher earnings across most of its main businesses and a rebound at its offshore & marine (O&M) unit.Keppel, which traces its roots to a small ship repair yard corporatized in 1968, has seen its renewable energy and asset management units bounce back this year, offsetting a decline in its urban development business."In an extended inflationary environment, demand for real assets with cash flow, such as those which Keppel develops, operates and manages, will continue to grow," Chief Executive

Finland-based marine engine and technology specialist Wärtsilä has signed agreements with the Japanese shipping group MMS to optimize maintenance and emissions for two MMS LNG carriers and maximize engine uptime.Wärtsilä said the agreements were designed to deliver maximized engine uptime and long-term cost predictability, optimizing maintenance for the highest efficiency, and lowest carbon footprint.The project includes Wärtsilä’s digital predictive maintenance solution, Expert Insight.

Tthe Louisiana Department of Transportation and Development (DOTD) announced this week that it received an apparent low bid from Houma, La. based Thoma-Sea Marine Constructors for the construction of two new ferry boats for the Cameron crossing in Cameron Parish. The bid was $49,706,865.Designed by Elliott Bay Design Group, the new boats will be 190’ x 50’ x 13’ and will replace the M/V Cameron II, which was built in 1964. The boats will be end-loading vessels in order to load and unload large commercial vehicles.

Mobile, Ala. repair yard Alabama Shipyard, LLC announced it has appointed Greg Wagner as its new chief executive officer (CEO).Wagner is joining the Alabama Shipyard team from the position of CEO at Navarro Capital Partners LLC., an oil and gas industry marine and subsea construction support services provider.Wagner is a graduate from the State University of New York Maritime College and has held various management and executive positions in marine operations, business development, and project and asset management.