NYK Bulk Shipping Records Lower Profit
Japanese shipping and logistics company Nippon Yusen Kabushiki Kaisha (NYK) said that its bulk Shipping division recorded lower profit than previous year.In the first quarter of the fiscal year ending March 31, 2020 (April 1, 2019, to June 30, 2019), its revenues from the bulk shipping amounted to 195.1 billion yen registering -11.3 decrease compared to the same period last year. The profit is down by -1.2 at 9.2 billion yen"Energy and Car transport is robust but lower dry bulk market due to production stoppage in Brazil and Western Australia…
García Joins the SENER
SENER has hired Luis García Jiménez as its Director of Corporate Development. This post is essential to the growth and development of the SENER Group, and reports directly to the CEO, Jorge Unda.From his new position, Luis García will be in charge of analyzing, organizing and coordinating medium- and long-term opportunities involving mergers, acquisitions and investments. He will also participate, together with the CEO and the directors of SENER's different divisions, in defining…
SENER Names Álvaro Lorente as MD
Spanish engineering and technology group SENER has appointed Alvaro Lorente, former Operations Manager in the energy division as Managing Director.He graduated in Industrial Engineering from the Pontificia Comillas University (ICAI), majoring in Electrical Engineering, and joined SENER in 1991. Among other posts, he has been head of SENER's Mechanics Section, Operations Manager for Renewables, Power, Oil & Gas and International General Manager at SENER.He was also appointed General…
Siemens Exits Power, Gas, Renewable Biz
German conglomerate Siemens AG said it will spin off and give up its majority stake in its energy division and merge it with separately listed wind turbine supplier Siemens Gamesa Renewable Energy (SGRE), creating a new multi-technology global energy powerhouse. The company’s supervisory board announced the spinoff on May 7 as part of its Vision 2020+ strategy concept. The board said the move would help Germany-based Siemens meet medium-term growth and profit targets by “clearly…
Oryx Acquires South African Marine Fuels
Oryx Energies, a provider of oil and gas products and services, has acquired the majority stake in South African Marine Fuels (SAMF), a bunkering company in Algoa Bay, Eastern cape, South Africa.Founded in 2016, SAMF is a woman-run enterprise with 100% South African staff operating at the only port in South Africa that has licensed offshore bunkering and ship service operations targeting both port calling ships and general passing traffic in this strategic location on the busy East-West routes."Thanks to its integration into Oryx Energies…
Maersk Vice CEO Steps Down After Energy Exit
Danish conglomerate A.P. Moller – Maersk informed that Claus V. Hemmingsen steps down as Vice CEO of the group. The company's energy division, which was headed by him, will also be shut down."The Energy division will close down latest by the end of June 2019, and Claus Hemmingsen will subsequently leave A.P. Moller – Maersk, after nearly 40 years in service," said a company statement.The Group has successfully concluded the separation of Maersk Tankers, Maersk Oil and Maersk Drilling as part of the transformation initiated in 2016 to focus A.P.
Maersk Aborts Sale of Maersk Supply Service
The world's largest container shipping company A.P. Møller – Mærsk A/S announced that its Board of Directors has decided to retain full ownership of Maersk Supply Service.The offshore support vessel industry, which Maersk Supply Service operates within, has over the last three years exhibited clear signs of distress, reducing company market capitalisations and lower asset values, negatively impacting the ability to find a sustainable ownership structure for Maersk Supply Service outside of A.P.
Crew Travel: Safety & Security in Shipping
Despite notable breakthroughs in technology and an overdue increase in conversations regarding safety at sea, the very nature of the marine industry means that risk is inevitable.Piracy remains a prominent concern in certain regions, for example, around the Gulf of Aden. According to statistical data provided by ICC International Maritime Bureau (IMB) , 107 ships were hijacked or were subject to attempted attacks by pirates between January-June 2018. This figure has risen by 20 per cent in comparison to data collected in 2017 and only further highlights the need for adequate safety measures. Even if your organizations’ activities aren’t near to one of the affected regions…
How to achieve crew travel efficiency in your business
Like all businesses, maritime organisations must strike a balance between managing operations with the right number of employees at the best possible price. But where they differ is that these businesses require specialist and highly trained workers– and getting them to where they need to be usually depends on circumstances that can rarely be taken for granted.Travel costs for crew make up the second-highest outgoing for most vessels, and without clear oversight costs can easily spiral out of control.
Crew Management: Day to Day Challenges
Tackling the time-sensitive challenges of maritime operations is at the forefront of all crew managers’ minds. They face an ongoing balancing act of supporting their Captain and crew in the best possible way to ensure a smooth and efficient running of the ship, whilst making sure it is commercially viable. This is rarely a straightforward operation, especially when it comes to managing travel for the 1.5 million people employed in the shipping sector, but there are key areas that…
Predictive Analytics Drives Better Crew Travel Management
Managing crew travel is just one area that can cause sleepless nights for shipping industry professionals. As someone who works in this specialist and incredibly dynamic sector, I know first-hand how quickly things can change. Overcoming challenges is just part of the day-to-day.Maritime organizations have a very particular set of needs when it comes to having the right personnel available at the right time. Seafarers’ travel is mission-critical and their working patterns are governed by tight regulations.
Maersk to Pursue Separate Listing of Maersk Drilling
Danish shipping company A.P. Moller-Maersk has decided to pursue a demerger with its offshore drilling operation Maersk Drilling via a separate listing of Maersk Drilling on Nasdaq Copenhagen in 2019.Maersk Drilling will become a stand-alone company next year as its parent company continues its exit from the oil and gas business.Having evaluated the different options available for Maersk Drilling, A.P. Moller – Maersk has concluded that listing Maersk Drilling as a standalone company presents the most optimal prospects for its shareholders…
Maersk Signs on to Help Clean up Ocean Plastic
Offshore services provider Maersk Supply Service has signed onto a project that aims to collect tons of plastic waste littering the world's oceans.In the comping months, the Denmark based firm will provide marine support to the Dutch nonprofit The Ocean Cleanup, which will install its first cleanup system in the North Pacific as part of the planet’s first large-scale initiative for collection of floating ocean-plastic debris.Global plastic production has risen steadily since the 1950s. It is estimated that more than 5 trillion pieces of plastic waste now litter all major ocean basins.
Boskalis Rethinks Loss-making Transport Operations
Boskalis will terminate loss-making transport activities at its offshore energy division, the Dutch marine and engineering company said on Thursday after posting lower than expected first-half earnings.A resulting one-off charge of 397 million euros ($451.6 million) pushed Boskalis to a net loss of 361.4 million euros, compared with a profit of 75.1 million euros in the first half of 2017. The consensus forecast in a company-compiled poll of analysts was for a profit of 60 million euros.The company aims to position the business at more lucrative areas of the transport and installation market…
Heijermans Joins Boskalis Management Board
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.
Successful Factory Acceptance Test for The Switch EBL
The Switch Norway, part of Yaskawa Corporation’s Yaskawa Environmental Energy Division, reports it has completed a Factory Acceptance Test (FAT) for its Electronic Bus Link breaker (EBL). It is the first time the new EBL, a key element within its DC-Hub, has undergone a FAT.The procedure was conducted in Trondheim under the supervision of class society DNV-GL and the undisclosed end customers. There were no issues recorded with the first three EBL units to undergo stringent testing…
Yaskawa Ups Investment in The Switch
Yaskawa Corporation is making a multimillion-euro investment to strengthen the R&D capabilities of The Switch and purchase new equipment at the company’s factory in Lappeenranta, Finland.The investment will enable drive train testing of up to 15 MW. The Switch will now become Yaskawa European’s Environmental Energy Division, leading the Japanese company’s global business in the marine, wind and turbo/industry segments.This latest investment provides The Switch with the capability to test high-power machines…
Fog Lifts as Maersk CEO Remains Upbeat
Container shipping fundamentals at best since 2010 - CEO. Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by more than 4.5 percent as investors looked beyond one-off second-quarter charges. Maersk has been hit by low oil prices at its energy arm and sliding prices in its shipping business in recent years due to lacklustre global trade and a glut of available ships for hire. But its chief executive Soren Skou, who has staked his future on Maersk as a transport business…
Maersk Wants Trade Finance Role
Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry. Moving into traditional bank territory and further down the shipping value chain, Maersk Line, part of A.P. Moller-Maersk, is offering to finance shipments and remove the paper trail from financing deals. Maersk says it has no need to ask for collateral - one of the biggest headaches for banks and customers in trade finance deals - because it is carrying the goods on its vessels.
Speedcast Announces Executive Management Changes
Speedcast International Limited has announced two changes to its executive management team: Keith Johnson will become chief operating officer, and Erwan Emilian will lead the Enterprise & Emerging Markets division. Johnson, currently EVP of Speedcast’s Energy Division, will take over for David Kagan as chief operating officer, while also keeping his existing Energy Division responsibilities. Kagan leave Speedcast in early December for personal reasons, but will remain as an advisor to the CEO on a limited-time basis. Johnson joined Speedcast in 2014 after spending over 20 years at Harris CapRock Communications, where he held numerous senior operational roles, including heading global operations and business unit leadership roles.
Mærsk Strengthens Executive Board
In line with the strategic direction announced in September 2016 A.P. Møller - Mærsk A/S has made significant progress in focusing the future business on container shipping, ports and logistics. To further accelerate the development of customer oriented end-to-end transportation and logistics solutions the Board of A.P. Møller - Mærsk A/S today announces that it is strengthening the management of the company by appointing the Chief Operating Officer, Chief Commercial Officer as well as the CEO of APM Terminals to the Executive Board.
Maersk, Statoil and OECD to Discuss Future Ocean Development
Key figures from Maersk Group, Statoil and the Organization for Economic Co-operation and Development have signed up to discuss future ocean business opportunities, demands and strategies at Opening Oceans Conference 2018 (OOC). The event, Nor-Shipping’s first outside its Norwegian home, will see c-level executives gather in Copenhagen on May 2nd and 3rd to examine how to responsibly realise the huge potential of the ocean, gaining the understanding, partners and tools to equip businesses for the way ahead.
Asia's Soaring Gas Demand Beckons New LNG Projects
Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015, to almost 40 billion cubic metres (bcm) a month.