Marine Link
Monday, October 15, 2018

Board Of Management News

Star Bulk Carriers Acquires Songa Bulk Fleet

Photo: Star Bulk Carriers Corp

Greece-based dry bulk shipping firm Star Bulk Carriers has entered into definitive agreements to acquire 18 dry bulk vessels in two all-share transactions. 15 of the vessels will be acquired from Songa Bulk and three of the vessels will be acquired from Oceanbulk Container Carriers. The consideration for the vessels was determined based on average vessel valuations by independent vessel appraisers. The Company has agreed to issue an aggregate of 13.725 million common and pay $145 million in cash for the acquisition of all of Songa’s 15 modern dry bulk vessels .

ZF Appoints New Board Members

Dr. Holger Klein (Photo: ZF)

ZF Friedrichshafen AG's Supervisory Board has appointed Sabine Jaskula and Dr. Holger Klein to the company's Board of Management.Jaskula, an experienced HR manager and lawyer, will be responsible for Corporate HR and Legal functions from latest January 1, 2019. In this function, she will also be in charge of compliance. Dr. Klein has been appointed to ZF's Board of Management with effect from October 1, 2018. His responsibilities will include Car Chassis Technology and Aftermarket (service and parts business).

Energy-efficiency Training Course Now Online

Energy efficiency training Course Photo IMO

A complete package of training materials on IMO’s energy efficiency requirements is now available to download free of charge from the IMO website. The package, including presentations, posters, exercises and assignments, will be of interest to anyone wanting to understand how to implement the regulations in Chapter 4 of MARPOL Annex VI and what the technical and operational implications are for ship designers, shipbuilders, companies and seafarers. The course has been designed to train individuals to become trainers themselves.

Fugro Bags Australian Subsea Contract

Fugro has been awarded a contract from INPEX Operations Australia Pty Ltd (INPEX) for subsea services to be executed across the Ichthys facilities in the Timor Sea, located approximately 220 kilometres from the coast of Western Australia. INPEX is Japan’s largest oil and gas exploration and production company. The five year contract encompasses field operations support, inspection, repair and maintenance (IRM) services and will run for five years, with options to extend. Fugro will provide all services through its office in Perth. The work will be performed under Fugro's QHSE system, which is in accordance with industry leading QHSE and operational standards.

EMGS CEO Christiaan Vermeijden Resigns

File Photo: Electromagnetic Geoservices ASA

The Board of Directors of  the Norwegian geophysical services company Electromagnetic Geoservices (EMGS)  announces that Christiaan Vermeijden has decided to resign from his position as CEO due to personal reasons.A press release from the marine EM market firm said that  Vermeijden will step down as CEO per 31.12.2018. He has held the position of CEO since February 2016.Eystein Eriksrud, Chairman of the Board of Directors: "We regret that Christiaan Vermeijden has resigned but we respect his decision.

Furgo Taps Heine as New CEO

Mark Heine (Photo: Fugro)

Dutch offshore services company Fugro NV has appointed longtime employee Mark Heine as its next CEO and Chairman of the Board of Management. He succeeds Øystein Løseth, who has decided to resign after only several months in the role.Heine, who most recently served as director of Fugro's marine division, began his career at Fugro in 2000 as geodesist on various onshore and offshore survey projects. By 2002 he fulfilled several management roles in the survey division with increasing responsibilities. From 2012 he served as regional director Europe-Africa for the survey division.

Heijermans Joins Boskalis Management Board

Bart Heijermans (Photo: Boskalis)

During today's Extraordinary General Meeting of Shareholders, Bart Heijermans was appointed to the Board of Management of Royal Boskalis Westminster N.V. for a term until the Annual General Meeting of Shareholders in 2022.Heijermans will be responsible for the company’s offshore energy division, effective September 1, 2018.Heijermans brings to the board extensive experience in the offshore industry, having recently served as CEO and board member of subsea services provider DeepOcean.

Port of Rotterdam Pact for Brazil's Pecém Port

Photo: Port of Rotterdam Authority

As shareholders in the Port of Rotterdam Authority, the Municipality of Rotterdam and the Ministry of Finance have approved the participation in the Port of Pecém, a rapidly growing port in Northeast Brazil.The participation involves an investment of some 75 million euros and, in addition to holding 30% of the shares, the Port of Rotterdam Authority will have joint control of strategic decisions and positions at Executive Board, Supervisory Board and management level.The Port of Rotterdam Authority and Ceará State are expected to sign the decision next month…

Marco Wirén Appointed President at Wärtsilä

Marco Wirén(Left) and Arjen Berends. Photos: Wärtsilä Corporation

Marco Wirén, M.Sc. (Econ.), has been appointed President of Energy Solutions, Executive Vice President and member of the Board of Management of Wärtsilä Corporation, effective October 1, 2018.In this position, he is responsible for Wärtsilä's Energy Solutions business globally, and will report to President & CEO Jaakko Eskola.Wirén is currently the Chief Financial Officer of Wärtsilä, holding this position since August 2013. Prior to joining Wärtsilä, he had broad-ranging experience of financial management and international business management from the steel manufacturer SSAB…

Boskalis Board Member Heijermans Buys Company Shares

Dutch dredging and maritime services provider Royal Boskalis Westminster N.V. announced that Bart Heijermans, member of the Board of Management as per September 1, 2018, has acquired 10,000 Boskalis shares.The shares were purchased Wednesday by Heijermans with his own funds through a bank.

Powered by China, Deutz Earnings Surge 37%

In its interim report for the first half of 2018, engine maker DEUTZ AG reports that in the first half new orders surged nearly 37 percent to €1.096 billion. Unit sales in the first half of 2018 came to 105,201, which included 6,345 electric motors sold under the Torqeedo brand. This was an increase of 32.2 per cent on the number of engines sold in the prior year period (H1 2017: unit sales of 75,599). Revenue amounted to €877.6 million, which was 19.5 percent higher than the €734.5 million generated in the first half of last year. DEUTZ also saw a further double-digit percentage increase in revenue in the second quarter of 2018, relative to both the first quarter of the current year and the second quarter of 2017.While the company saw orders and revenue surge…

Dorian LPG Post 3Q 2016 Profit

Courtesy Dorian-LPG

Dorian LPG Ltd. a leading owner and operator of modern very large gas carriers, today reported its financial results for the three months ended December 31, 2015. John Hadjipateras, Chairman, President and Chief Executive Officer, commented, "The third quarter was an extremely busy period for Dorian as we took the delivery of seven new Eco-design VLGCs. Our cash flow generated from operations has allowed us to repurchase an additional 480,231 shares of our common stock for $5.8…

Schottel's Strahberger: One Year at the Helm

Dr. Christian Strahberger (Photo: Schottel)

Schottel, a ubiquitous German-based maritime propulsion company, is firing on all cylinders and preparing now for the inevitable maritime market upturn. As Schottel’s new Managing Director, Dr. Christian Strahberger, closes in on his first year at the helm, he discusses the strategy with Maritime Reporter & Engineering News. While the maritime industry endures an overall downturn, quality, long-term companies see opportunity amidst the challenge, using lean times to optimize operations and staff while plotting a course for the inevitable turnaround.

Akzo Nobel Rejects Third PPG Takeover Bid

Photo: Akzo Nobel N.V.

Marine coating major AkzoNobel announced it has declined a third unsolicited, non-binding and conditional proposal submitted by PPG Industries on April 24, 2017, for all outstanding ordinary shares in the capital of AkzoNobel. A statement from AkzoNobel said that it has concluded its own strategy, presented on April 19, 2017, offers a superior route to growth and long-term value creation and is in the best interests of shareholders and all other stakeholders. This decision follows considerable in-depth analysis of PPG’s proposal by the Supervisory Board and Management Board of AkzoNobel…

Rigdon Named Interim CEO at Tidewater

Larry Rigdon

Larry T. Rigdon will serve as interim president and chief executive officer (CEO) of Tidewater Inc. while a search committee seeks a permanent successor to Jeffrey M. Platt, who has elected to retire from his role as director, president and CEO of offshore service vessels (OSV) owner and operator effective October 15, 2017. “Having successfully completed the financial restructuring of Tidewater at the end of July, which positioned the company to weather current industry conditions and achieve success in the future…

MV Kobi Ruegg Joins Fugro Survey Fleet

MV Kobi Ruegg (Photo: Fugro)

A 58-meter, multi-role survey vessel MV Kobi Ruegg has joined Fugro’s fleet and is set to begin her first project in the Egyptian sector of the Mediterranean Sea. Working on behalf of Saipem, Fugro will deploy its large diameter piston core system to collect soil samples in the Zohr gas field; geophysical surveys for Pico and Shell will follow. Having previously operated in the Gulf of Mexico for Fugro, the three-year-old vessel has recently been renamed in honor of a former member of Fugro’s management board who passed away in March 2017.

Paefgen Named Chairman of ZF's Supervisory Board

The Supervisory Board of ZF Friedrichshafen AG appointed Dr.-Ing. Franz-Josef Paefgen as its new chairman, at an extraordinary meeting on December 4, 2017. Paefgen, a member of the Supervisory Board since 2008, will succeed Prof. Dr. Giorgio Behr. Since 1976, Paefgen has held various managerial positions in the automotive industry. From 1995 until 2002, he was member of the Board of Audi AG, and from 1997, he was chairman of the Board of Management. From March 2002, he was responsible for the Bentley brand, and as chief representative of Volkswagen AG, was also responsible for Volkswagen's Corporate Research and Motorsports. Between 2003 and 2005, Paefgen was head of Bugatti Engineering GmbH. From 2007 up to his retirement in 2011, he was president of Bugatti Automobiles S.A.S.

Deutz Names Strecker CFO

Dr. Andreas Strecker was named CFO, Deutz AG. (Photo: Deutz)

Dr. Andreas Strecker, 56, was appointed as a member of the Board of Management of DEUTZ AG, effective 1 March 2018, and will assume responsibility for Finance, Purchasing, Human Resources and Information Services from 1 April 2018. He succeeds former CFO Dr. Margarete Haase, 64, whose contract ends on April 30 2018. Dr. Strecker previously worked in managerial positions in the Bus and Controlling units of the Daimler Group, most notably for many years as the President and CEO of Daimler Buses North America.

FSL Trust Sells Vessel to Trim Debt

Photo: FSL Trust

FSL Trust Management, as trusteemanager of First Ship Lease Trust (FSL Trust), announces that the Trust has sold its chemical tanker, FSL Tokyo, for a cash consideration of US$13.8 million. FSL Tokyo is a 2006, Japanese-built, 20,938 DWT chemical tanker that has been deployed in the spot market. The net proceeds from this Disposal will be applied in full to the outstanding loan facility in 1Q2018. FSL Trust will record a related impairment charge of approximately US$9.0 million in 4Q2017.

PSA International Profit Jumps by 5.1% for 2017

Fock Siew Wah, Group Chairman, PSA International. Photo: PSA International

Port and terminal operator PSA International posted a 5.1 per cent jump in net profit to S$1.23 billion for the year ended 31 December 2017 on higher revenue and container throughput at its terminals worldwide. The Group’s terminals saw a 9.8% year on year increase in box volumes handled to 74.2m teu. PSA’s flagship Singapore Terminals contributed 33.35 million TEUs, increasing 9.0% over 2016. PSA terminals outside Singapore delivered a total throughput of 40.89 million TEUs, increasing 10.4% over 2016. PSA Group revenue rose 7.8% and profit from operations grew 5.0% compared to previous year.

Boskalis Profits Zoom as Expected

Royal Boskalis Westminster N.V.  closed the third quarter of 2016 in line with expectations. Image Boskalis

Royal Boskalis Westminster N.V. (Boskalis) closed the third quarter of 2016 in line with expectations. Both revenue and operating profit were higher than the average seen in the first two quarters of the year. The increase was wholly attributable to the contribution from the offshore activities acquired from VolkerWessels, which are consolidated with effect from the third quarter. Adjusted for these activities there was a slight decline in revenue and operating profit compared to the average seen in the first two quarters of the year.

Schaller Takes Over as Head of the Voith Group

Stephan Schaller (Photo: Voith Group)

As of April 1, 2018, Stephan Schaller has begun in his role as head of the Corporate Board of Management at Voith GmbH & Co. KGaA and will lead the international technology company. He succeeds the long-serving head of the Board, Dr. Hubert Lienhard, who, at the age of 67, is retiring as planned. Schaller has supported Voith since 2015 as a member of Voith’s Shareholders’ Committee. Schaller has many years of international experience in various sectors and industries outside Voith.

Rolls-Royce, ZF Strengthen Propulsion Ties

Wilhelm Rehm and Dr. Ulrich Dohle sign the collaboration agreement (Photo: ZF)

An agreement between ZF Friedrichshafen AG and Rolls-Royce Power Systems will see the two companies collaborate even more closely on the development, marketing, sales and service of marine propulsion systems. The combination of MTU engines from Rolls-Royce Power Systems and marine transmissions from ZF have long been a match for many commercial ships and yachts. Now, the two companies plan to work together even more intensively to develop new technologies and products to help ensure clients are provided with fully optimized propulsion solutions.

Maritime Reporter Magazine Cover Oct 2018 - Marine Design Annual

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