Asset Management News

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.

10 Feb 2019

World's First: Wartsila Intros Hybrid Retrofit

Image caption: An impression of how the ‘Hagland Captain’ will look after the retrofit of a WĂ€rtsilĂ€ hybrid propulsion solution. The conversion will create fuel savings and environmentally sustainable operations. Image copyright: Hagland Shipping AS.

The Finnish technology group Wärtsilä has signed an agreement with the international shipping company Hagland Shipping AS for a hybrid retrofit installation.The project will take place onboard the ‘Hagland Captain’, a general cargo vessel owned by Hagland Shipping. It will be the first project of its kind ever in short-sea shipping applications. The agreement was signed in December 2018.The installation of a Wärtsilä battery hybrid propulsion solution will significantly enhance the ship’s environmental performance by reducing its emissions, fuel consumption, and noise.

25 Jan 2019

LOC Appoints Group Director for Hull, Machinery, Due Diligence Services

Nikos Benetis . Photo: LOC Group

London Offshore Consultants (LOC) Group announced the appointment of Nikos Benetis as Group Director of Hull & Machinery and Due Diligence Services.Nikos has been with LOC since 2017, previously in the role of Director of Financial Institution Advisory Services, and takes on his new role as part of the Group’s ongoing initiative to structure its shipping division to reflect the changes in the industry and client’s needs.According to a press release from the marine and engineering consultancy to the world’s shipping and offshore energy industries


03 Dec 2018

Babcock JV Secures $1.5b Australian DFS Program Contract

Photo credit: Department of Defence

Naval Ship Management (NSM), an existing joint venture between Babcock and UGL, has been awarded the support and sustainment program for two Landing Helicopter Docks (LHDs) at the Garden Island Defence Precinct in NSW, following a competitive bidding process.The announcement made today by the Australian Minister for Defence, the Hon Christopher Pyne MP, confirmed NSM was selected by the Australian Defence Force to sustain and support two LHDs and twelve LHD Landing Crafts (LLCs) for a period of 15 years.

26 Nov 2018

Ørsted Completes Divestment in Hornsea 1 Offshore Wind Farm

Image: Ørsted

Danish offshore wind farm developer Orsted A/S has completed the divestment of 50% of the Hornsea 1 Offshore Wind Farm to Global Infrastructure Partners (GIP).Three months ago, Ørsted signed an agreement to sell 50% of the 1,218MW offshore wind farm Hornsea 1 to Global Infrastructure Partners (GIP). Hornsea 1 is under construction and will be the world’s largest offshore wind farm when commissioned in 2020.As part of the agreement, Ørsted will construct the wind farm under a full-scope EPC contract.

22 Nov 2018

Norway's Equinor strikes LPG Deal with Malaysia

Image: Equinor

Norwegian oil and gas firm Equinor has entered into a long-term agreement with Malaysia's Global Petro Storage for a terminal and storage for liquified petroleum gas (LPG) volumes in Port Klang, in South-East Asia.According to statement from the petroleum and wind energy company, GPS will build a new facility to execute this agreement with startup of operations planned for mid-2021. Equinor will bring LPG to the terminal and sell into the domestic market in Malaysia as well as selling volumes to markets like Bangladesh


23 Oct 2018

Andy Richardson Joins as COO of SimecAtlantis Energy Limited

Andy Richardson. Photo: Simec Atlantis Energy

Simec Atlantis Energy  announced that it has appointed Mr. Andy Richardson into the role of Chief Operating Officer at Simec Atlantis Energy.A press release from the global developer, owner and operator of sustainable energy projects with a diversified portfolio of more than 1,000 megawatts in various stages of development said that this will be a non-Board appointment.Andy is a senior figure in the global power generation sector, a Chartered Fellow, having formally held roles


18 Oct 2018

Keppel Q3 Profit Falls

Singaporean conglomerate Keppel Corp on Thursday posted a 15 percent fall in third-quarter net profit, hurt by lower contributions from its investments and property divisions.Keppel, whose businesses range from rig-building to property development, posted a net profit of S$226 million ($164 million) for the quarter ended September, versus S$265 million a year earlier.Total revenue for the quarter stood at S$1.3 billion, a 20 percent fall from a year earlier.Higher revenue recognition from ongoing offshore and marine projects and increased power and gas sales were offset by lower contributions from property trading, asset management, as well as the absence of the sale of investments


04 Oct 2018

Seaspan to Invest $200 Mln into Offshore Vessel Owner Swiber

Image: Swiber

Singapore-based offshore contractor Swiber has signed a $200 million deal with box ship player Seaspan Corporation, just days after it announced the expiry of a term sheet for a share swop arrangement with Australian power generation firm, Interlink Power & Energy Holdings.In a stock exchange announcement, the offshore construction and services group said that it has signed with Seaspan a binding term sheet on October 3, 2018, which is subject to definitive agreements being entered into on mutually agreed terms.

01 Oct 2018

BV Launches BV Solutions M&O

Bureau Veritas announced the launch of a newly branded and separate family of experts, ‘Bureau Veritas Solutions Marine & Offshore’ (BV Solutions M&O).Aimed at the marine and offshore markets, BV Solutions M&O brings together services and people from within Bureau Veritas to create a proactive and dedicated capability, offering value to clients through technical services and solutions.BV Solutions M&O is focused on four service lines: Engineering & Risk Solutions, Asset Management Solutions


25 Sep 2018

Asset Management Optimized Using Aerial Drones

© Riko Best / Adobe Stock

A new alliance aims to shake up traditional asset management and engineering inspection services in North America.Partners DCL Rigging & Mooring (DCL) and Aerostar Drone Solutions Inc. intend to utilize advanced, multiple-imaging sensors on unmanned aerial vehicles (UAVs) to dramatically lower the cost of conducting engineering surveys and inspection engagements.“We are using our 50 years of combined industry and engineering experience to develop alternative inspection techniques utilizing UAV technology,” said Darren Jackson, President of Aerostar.

24 Sep 2018

Prysmian Completes Wikinger Offshore Wind Farm Cable Project

Image: Prysmian

Prysmian Group, world leader in the energy and telecom cable systems industry, announces the successful commissioning of the inter-array cable system for the Wikinger offshore wind farm, located within the West of Adlergrund cluster in the German Baltic Sea.According to a press release, Prysmian secured this project in February 2015 with a contract awarded by Iberdrola, the world-leading renewable energy developer and operator.“This important project marks a further significant milestone for the Group


03 Sep 2018

Rolls-Royce Health Management Solutions to Harness Power of Data

Image provided by Rolls-Royce

Rolls-Royce continues to develop its ship intelligence offerings to the market, and now introduces a pioneering new solution for Health Management of ship equipment.The technology is aimed at elevating the way in which customers manage and maintain the equipment and systems onboard their ships.Health Management is designed to provide ship operators with an unsurpassed level of understanding of the operational health and performance of all the machinery installations onboard.Developed by the Ship Intelligence team at Rolls-Royce


20 Aug 2018

Partners to Leverage AI to Optimize Maritime Logistics

© Gerhard1302 / Adobe Stock

Transmetrics’ digital solution optimizes marine logistics using AI technologies and Marlink’s global multi-band networkMarlink has signed an agreement with Transmetrics to establish a strategic business partnership aimed at predictive logistics optimization for maritime customers. The agreement will enable Transmetrics, a Forbes-awarded start-up, to leverage Marlink’s broadband satellite communications network, digital solutions and contacts to further develop maritime logistics innovations.

13 Aug 2018

CMM Selects ABS Asset Management Platform

(Photo: Consolidated Marine Management)

Tanker operator Consolidated Marine Management (CMM) is implementing an Enterprise Asset Management (EAM) Program with ABS Advanced Solutions.“We had intensive discussions with ABS to validate the assessment process and capabilities of the team to review our business processes, and we are quite satisfied with their technical expertise and strong EAM experience,” said Kostas G. Vlachos, Chief Operating Officer of CMM. “Our current efforts are focused on optimizing inventory management and the reliability of our assets.

08 Aug 2018

Maritime Thought Leadership: Christopher J. Wiernicki, ABS

Christopher J. Wiernicki, Chairman, President and CEO, ABS. (Photo: ABS)

The maritime industry has been challenged, to say the least. Today, where do you see challenge? Where do you see opportunity?It’s clear our business environment continues to change and we have a new definition of what normal means: nothing is normal. We are in era of rapid, disruptive and impactful change.The coming years will bring further turbulence, shaking out our industry and setting the course for the next 20 years and beyond. Market cycles will continue to evolve and will be impacted differently than they are today.For example


07 Aug 2018

Arcadia Shipmangement Signs ABS Advanced Solutions EAM Agreement

Photo: Arcadia Shipmanagement

Arcadia Shipmanagement Co. Ltd. selected ABS Advanced Solutions to implement an Enterprise Asset Management (EAM) Program to further enhance the reliability of its fleet of 15 tankers.The Advanced Solutions EAM program is designed to aid owners and operators with managing physical assets from design to decommissioning to optimize use, reduce costs, and improve vessel reliability and efficiency.According to ABS, the program addresses core elements established over more than a decade of experience: asset lifecycle management strategy


06 Aug 2018

Aerial Drones Perform Tanker Survey

Photo: Cyberhawk

Unmanned aerial vehicle (UAV) survey and inspection firm Cyberhawk has completed the first full ABS Intermediate Hull Survey 4 on an oil tanker using UAVs.Cyberhawk performed full class inspection across 19 tanks on board an oil tanker while at a shipyard in Singapore. This included 12 Cargo Oil Tanks (COT), two slop tanks and five ballast tanks. Attending was the American Bureau for Shipping (ABS) to ensure the quality of the inspection complied with the specific ABS rules (ESP) set for tankers.

Maritime Reporter Magazine Cover Apr 2019 - Navies of the World

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