Marine Link
Friday, January 19, 2018

Chief Executive News

New CEO, Co-CEO to Lead MHI Vestas Offshore Wind

Photo: Vestas Wind Systems A/S

Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems (Vestas) have appointed Philippe Kavafyan to Chief Executive Officer (CEO) and Lars Bondo Krogsgaard to Co-Chief Executive Officer (Co-CEO) of MHI Vestas Offshore Wind. The appointments will take effect on 1 April, 2018, and are made in accordance with the joint venture agreement's principle of changing its leadership every four years. Under the leadership of out-going CEO Jens Tommerup and Co-CEO Tetsushi Mizuno, MHI Vestas Offshore Wind has established itself as a leading player in offshore…

Hapag-Lloyd: Shipping Demand Up, More Mergers in 2018

file Image (CREDIT: Hapag-Lloyd)

German shipping group Hapag-Lloyd sees demand for transport growing 4 percent in 2018 and expects more shipping firms to merge in the year, the chief executive said. CEO Chief Executive Rolf Habben Jansen also said Hapag-Lloyd, which merged with its Arab peer UASC, could achieve 85 to 90 percent of targeted annual savings from the deal of $435 million this year and 100 percent from 2019. More savings could be made in future, he told reporters in Hamburg, where he reiterated guidance for rising full-year 2017 earnings before interest, tax, depreciation and amortisation (EBITDA) and for EBIT.

Battery Hybrid Patrol Boat under Development

(Image: PBES)

PBES and NORIS Automation GmbH have partnered on the hybrid drive systems for Europe’s first battery hybrid patrol vessel. The 45m long vessel is being built at Baltic Workboats Shipyard in Estonia and will be delivered with 273kWh of PBES Power 65 battery modules. “PBES batteries provide hours of low speed propulsion with reduced sound and heat signature as well as greatly increased efficiency,” said Brent Perry, PBES Chief Executive Officer. “The vessel is first of many that we will be seeing in law enforcement.

Cheniere Signs 15-year LNG Supply Pact with Trafigura

© Wojciech Wrzesień / Adobe Stock

U.S. natural gas producer Cheniere Energy Inc said on Tuesday Singapore-based commodity trader Trafigura Pte Ltd would buy about 1 million tonnes of natural gas per year from its unit for 15 years, starting 2019. The agreement with Cheniere Marketing, LLC would help the Houston-based company to fund its expansion plans, Chief Executive Jack Fusco said. The company has been expanding its presence in Asia to benefit from the rising demand for liquefied natural gas from the region.

Bibby Offshore Recapitalization Completed

Bibby Offshore chief executive Howard Woodcock (Photo: Bibby Offshore)

Subsea services provider Bibby Offshore Holdings Limited said it has completed the recapitalization of its balance sheet announced on December 5, 2017. The agreement to recapitalize the balance sheet was approved January 10 by 98.7 percent of noteholders of the £175 million (approximately $243 million) 7.5 percent senior secured notes, and makes noteholders the new owners of the group. “The completion of the recapitalization will be transformational for Bibby Offshore and is a major milestone for our business,” said Howard Woodcock, chief executive of Bibby Offshore.

Global Ship Lease Eyes Acquisitions

Photo: Global Ship Lease

The London-based Global Ship Lease (GSL) said that it  is well-positioned as one of few publicly listed containership leasing companies to acquire attractive portfolios of ships, attract growth capital or find a complementary merger partner. The containership charter owner has engaged Evercore to act as financial advisor to assist in reviewing strategic alternatives focused on maximizing shareholder value. GSL has successfully refinanced of all of the its indebtedness in October 2017 and with a strengthening market backdrop.

Pankaj Khanna Appointed As CEO of Ocean Rig

Image: Ocean Rig UDW

Pankaj Khanna has been appointed as President and Chief Executive Officer of Ocean Rig UDW, a global provider of offshore deepwater drilling services,  effective January 1, 2018. Khanna is 47 years old with 29 years of varied experience in the maritime & offshore industry. He last served as Chief Executive Officer of Pioneer Marine Inc, a drybulk company that he founded in 2013. Prior to his position at Pioneer Marine Inc Khanna served as Chief Marketing Officer at Ocean Rig UDW Inc. from January 1, 2012 to October 2, 2012. Mr. Khanna served as the Chief Operating Officer of DryShips, Inc.

Seacor Announces JV with Cosco Shipping Affiliates

File photo: SEACOR Marine

Offshore services vessel operator SEACOR Marine Holdings Inc. said it has formed a jointly owned company with affiliates of the world’s largest ship owner, COSCO Shipping Group. The Marshall Islands company, SEACOSCO Offshore LLC, entered into contracts for the purchase of eight Rolls-Royce designed new construction platform supply vessels (PSV) from COSCO Shipping Heavy Industry (Guangdong) Co., Ltd. Six of the PSVs are of UT 771WP design (4,400 tons deadweight), and two are of UT 771CD design (3,800 tons deadweight).

Rolls-Royce Shares Jump as Commercial Marine Unit Sale Mulled

File Image: a Rolls-Royce water jet offering (CREDIT: Rolls-Royce)

Britain's Rolls-Royce said on Wednesday it was considering the sale of its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as part of a restructuring of the company into three core units. Shares in the company jumped after it said the loss-making unit could be sold. They were trading up 7.2 percent at 1330 GMT. The announcement came as part of a restructuring of the aero-engine maker into civil aerospace, defence and power systems units, with naval marine and nuclear submarines consolidated into defence and civil nuclear into power systems.

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.

Rolls-Royce Mulls Sale of Commercial Marine Unit

Photo: Rolls-Royce plc

Industrial conglomerate Rolls-Royce is considering selling the bulk of its struggling marine business as the company embarks on another restructuring which aims to further slash costs. "We are embarking on a further simplification of the business, including the evaluation of strategic options for our Commercial Marine operation and a reduction from five operating businesses to three core units based around Civil Aerospace, Defence and Power Systems," said a press release from the company.

Global Ship Lease Extends TC with CMA CGM

Photo: CMA CGM

Global Ship Lease, a containership charter owner, announced that it has agreed to an extension of its charter with CMA CGM for the GSL Tianjin, a 2005-built, 8,063 TEU containership. The vessel will be chartered for a period of eight to twelve months (at the charterer's option) at a fixed rate of $11,900 per day, commencing in direct continuation from its current charter on January 26, 2018. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to have secured this extension with CMA CGM for the continued employment of the GSL Tianjin.

US Coal Exports Bound for Japan's New Power Plants

(Photo: Cloud Peak Energy)

U.S. miner Cloud Peak Energy said on Tuesday it will export coal from a Montana mine for 30 to 40 months to two new power plants in Japan with shipments that could start late next year. The coal from Montana's Spring Creek Mine will be carried by rail to Vancouver and then sent by ship for delivery to two 540-megawatt coal gasification plants in Fukushima Prefecture, Cloud Peak said. JERA Trading Pte Ltd, a trading company based in Singapore, will buy the coal from Cloud Peak. Sales of the coal are expected to reach 1 million metric tonnes in the final contract year, Cloud Peak said.

Saudi Aramco Shipyard Joint Venture Appoints CEO

(Photo: Saudi Aramco)

Saudi Aramco and its partners have appointed Fathi K. Al-Saleem as chief executive of a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. The state-owned oil giant said in a statement on Friday that International Maritime Industries (IMI) had been officially launched in partnership with National Shipping Co of Saudi Arabia (Bahri), engineering firm Lamprell Plc, and South Korea’s Hyundai Heavy Industries Co.

14 Appointed to NOIA Board

Logo

The National Ocean Industries Association (NOIA) elected 14 industry leaders to its Board of Directors on April 21, 2016 during its Annual Meeting in Washington, DC. Gary Luquette, President and Chief Executive Officer, Franks International, N.V. Kirk Meche, President and Chief Executive Officer, Gulf Island Fabrication, Inc. Richard Morrison, Regional President Gulf of Mexico, BP America, Inc. W. Matt Ralls, Executive Chairman, Rowan Companies, Inc. Jeff Platt, President and Chief Executive Officer, Tidewater, Inc.

IBIA CEO Quits to Join Saudi Seaport

Acting IBIA CEO Trevor Harrison: Photo courtesy of IBIA

International Bunker Industry Association (IBIA) chief Cliff Brand resigns to become Marine Director, King Abdullah Economic City Seaport. International Bunker Industry Association has announced that it is searching for a new chief executive following the resignation of its Chief Executive Cliff Brand. Cliff Brand will be leaving the organisation on 28 March, 2013. IBIA board member Trevor Harrison will act as interim chief executive until a replacement is found, having previously acted as IBIA chief executive for 15 months during 2011/12.

Global Maritime take Center Stage @ Danish Forum

The second Annual Danish Maritime Forum, scheduled for October 7-8, 2015, in Copenhagen, brings together a wealth of global maritime leaders to address present and long-term challenges for industry. Discussions at this year’s Danish Maritime Forum are influenced by volatility in global markets and uncertainties about future growth and will focus on how the maritime industry can address these challenges in both the short and long term. Other topical issues will include the New Chinese Silk Road, the global energy outlook and the future of ocean governance.

DP World Santos Appoints Dallas Hampton as New CEO

Photo:  Embraport

The Brazilian terminal DP World Santos will now be run by the new CEO Dallas Hampton, , an Australian executive with degrees in Business Administration, Logistics and Occupational Safety and with vast experience in the ports and logistics sectors. The modern private port terminals, situated on the left bank of the Port of Santos, announced that Ernst Schulze, who served as Chief Executive Officer for nearly six years, is stepping down to assume another opportunity at the DP World group.

SCA Elects New Chairman

The Shipbuilders Council of America (SCA) announced that Steve Welch, chief executive officer of Todd Pacific Shipyards Corp., has been elected its new chairman, replacing Donald T. “Boysie” Bollinger, chief executive officer of Bollinger Shipyards, Inc. Butch King, chief executive officer of VT Halter Marine, Inc., was elected to the position of vice-chair. The elections took place during the Council’s annual Spring Meeting, held April 30 through May 1, in Washington, DC.

RCCL Names Pimentel President & CEO

Royal Caribbean Cruises Ltd. (RCCL) has announced the appointment of Larry Pimentel to the newly created position of president and chief executive officer of Azamara Cruises. Pimentel will have responsibility for the strategic direction and leadership of the deluxe brand to ensure its continuous growth and success. He will report directly to Richard D. Fain, chairman and chief executive officer of RCCL. Pimentel has more than 25 years of travel industry experience catering to the high-end consumer. Most recently, he served as president, chief executive officer and co-owner of Seadream Yacht Club and was previously president and chief executive officer of Cunard Line, Seabourn Cruise Line, and Classic Hawaii.

New Chief Executive for Maritime and Coastguard Agency

The U.K.’s Department for Transport announced the appointment of Peter Cardy as the new Chief Executive of the Maritime and Coastguard Agency. He will succeed John Astbury who retires from his post as Acting Chief Executive of the Agency in May 2007.

Port of New Orleans: Varied Third 2013 Meeting Agenda

The port informs that its meeting no. 3 of fiscal year 2013-2014 is to be held on Thursday, September 26, 2013, 11:00 a.m. in the main auditorium at 1350 Port of New Orleans Place, New Orleans, Louisiana. II. III. IV. VI. A. Consider Award of a Contract to Kostmayer Construction, L.L.C., for Jourdan Road Terminal Substructure Repairs Necessitated by Hurricane Katrina (Ms. B. Consider Award of a Contract to C.E.C., Inc., for Repair of Pipe Discharge Supports at the Jourdan Road Patterson Pump Station on the Inner Harbor - Navigation Canal (Ms. C. Consider Award of a Contract to Boines Construction & Equipment Company, Inc., for Repairs Necessitated by Riverbank Erosion at Berth 1 of the Julia Street Cruise Terminal (Ms.

Baltic Exchange to Develop LNG Freight Index

(File photo: Teekay Corporation)

The Baltic Exchange is looking into launching a freight index for liquefied natural gas (LNG) and is working with leading ship brokers to explore potential shipping routes that might be used as the LNG market grows, the company said on Thursday. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates, including ones used by the multi-billion dollar freight derivatives market. Singapore Exchange acquired the exchange in 2016 and since then the Baltic has been looking for new markets to develop.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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