Marine Link
Monday, July 16, 2018

Ernst And Young News

Speedcast Announces Buyout

Speedcast announces buyout; also announces appointment of new Board Director and Chairman. SpeedCast Ltd. announced the buyout of SatComms Australia, a satellite solutions provider in Australia. The closing of the transaction is subject to regulatory approval. The acquisition will further consolidate SpeedCast’s leadership position in the Asia-Pacific region and provide SpeedCast with an expanded presence in Australia. SpeedCast also announced the appointment of Michael Malone as a nonexecutive Board Director and the appointment of John Mackay as Chairman of the Board.

TT Club Appoints Lewin as COO

TT Club, the transport and logistics industry's provider of insurance and related risk management services has appointed Colin Lewin as Chief Operating Officer, effective October 1, 2002. Lewin, currently Asia Pacific regional manager for TT Club, will take over the operational management of underwriting and claims in order to leave CEO Paul Neagle free to manage the strategic development of the business following its extensive planning initiative last year with Ernst and Young. Lewin has been involved in the insurance and transport industry for more than 20 years, joining TT managers Thomas Miller in 1986 after six years in various operational roles in the transport sector.

Cairncross Shipyard Taken Over

Ernst and Young reported that Cairncross Shipyard in Brisbane - reportedly the largest ship repair facility in the Southern Hemisphere - was taken control of by unlisted Australian company Forgacs Engineering Pty Ltd.

Cyberhawk CEO Shortlisted for EY Entrepreneur Award

Craig Roberts, CEO at Cyberhawk Innovations. Photo Cyberhawk  Innovations

Chief executive of Livingston-based Cyberhawk Innovations, Craig Roberts, has been shortlisted as a regional finalist in the 2016 EY (Ernst and Young) Entrepreneur of the Year Awards for Scotland. Formed in 2008, Cyberhawk has grown significantly to become the world leader in unmanned aerial vehicle (UAV) inspection and survey and in the conversion of drone captured data into powerful asset management information in the cloud. Craig was appointed in 2012 when the company decided an experienced CEO was required to build on its progress to date…

Barge Master Provides Stable Platform for Crane, Offshore Ops

Barge Master T700 supporting crane operations in the North Sea

Innovation is a theme rippling through Holland’s robust maritime industry. From ropes and winches to hull and crane design, Dutch marine engineers repeatedly answer the call for safe, efficient marine operations. An exemplary display of genuine Dutch innovation can be found at Barge Master, a company that develops and produces motion compensation platforms designed primarily for cranes and supply barges in the marine offshore and nearshore construction sectors. When a barge is operating on open water…

Vallianz Acquires OER Holdings for $28m

Darren Yeo, Executive Director and Chief Executive Officer

Vallianz Holdings Limited, a provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has today announced that it is acquiring OER Holdings Pte. Ltd. for $27.7 million (USD). Headquartered in Singapore, OER is a provider of manpower services to the offshore industry and has been supplying professional crew with proven experience in offshore work and related hospitality services to clients worldwide including Brunei, Indonesia, Malaysia, Vietnam, Thailand, India and Mexico.

Cape Town Venue for Recent ICOMIA Congress

After registration, delegates were taken on industry site visits to view rig designers, Southern Spars; large sailing-yacht builders, Southern Wind Shipyard, and the state-of-the-art facilities at Quantum Sails, which produce sails for multihulls and keelboats. Two more industry visits followed at catamaran builders Robertson and Caine and Two Oceans Marine. Congress commenced on Wednesday 18 April, and consisted of various committee meetings and the annual ICOMIA/IFBSO Joint Session was held on the Friday. The key note speakers were Michael Lalor of Ernst and Young, who spoke about the African market; Liesl Nel of Moorings, who gave a presentation on the global charter market…

European Offshore Wind: Financiers Can Invest, But ...

Image courtesy of EWEA

The offshore wind industry needs between EUR90 and EUR123 billion by 2020 to meet its 40 GW target
, and equity and debt providers are willing to invest, but they fear regulatory instability considers the the European Wind Energy Association (EWEA). What's blocking the needed investment is the uncertainty caused by changing regulatory frameworks, not least in the two largest markets, the UK and Germany, an independent survey of the financial community shows. By undermining investment stability…

Andrade Named CFO at Teekay Tankers

Stewart Andrade has been appointed Chief Financial Officer of Teekay Tankers, succeeding Vince Lok who will remain Teekay Corporation’s Executive Vice President and Chief Financial Officer.   Andrade joined Teekay in 2002 and has worked in several senior roles across the organization. His most recent role was Vice President, Strategy and Business Development for Teekay’s tanker business, a position he has held since December 2015.   Prior to joining Teekay, Andrade, a Canadian Chartered Professional Accountant, worked in Ernst and Young’s consulting practice providing advisory services to a variety of Canadian and international organizations.

MRG Promotes Sandaas to CFO

Marine Resources Group announced that Kirstin Sandaas has been promoted to Chief Financial Officer and Kevin Orstad has joined the company in the position of Group Controller. Sandaas joined MRG in the spring of 2004, and since that time has worked closely with the financial and operating divisions at the MRG group of companies. Her contributions include assisting in two corporate acquisitions, implementing an MRG-wide 401(k) program and assessing enterprise-wide systems solutions. Prior to joining MRG she held the position of Director of Finance at Sea Coast Towing. She served as Finance Manager at Optiva, makers of the sonicare toothbrush, working as an integral part of the team that helped sell the company to Philips Electronics.

Maritime Reporter Magazine Cover Jul 2018 - Marine Communications Edition

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