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Sunday, February 18, 2018

Femco Group News

SINOPACIFIC Delivers AHTS Vessel to FEMCO

Photo courtesy of SINOPACIFIC

On April 28, 2015, Sinopacific Shipbuilding Group (SINOPACIFIC) held a christening and delivery ceremony for a newly built SPA150 AHTS, constructed for shipowner FEMCO Group. This first SPA150 vessel is not only the first of this design to be delivered in the world, but is also the first of a series of four vessels contracted by FEMCO Group. Representatives from the Government, banks, shipowner, classification society, supervisors, suppliers, brokers and media, as well as other related parties, were present at SINOPACIFIC’s Zhejiang Shipbuilding base and witnessed this rather memorable moment.

China Shipyard to Build 4 AHTS for Russia's Femco

Artist's Impression courtesy of FEMCO

Sinopacific's Dayang shipyard in China, contracted to build four advanced specification Anchor Handling Tug Supply (AHTS) vessels for Femco Group. The four AHTS’ will have 12240 bhp and 150 tons bollard pull, and are of Sinopacific’s own SPA-150 design to BV class. Main engines, shafts, CPP propellers, thrusters and DP system will be supplied by Rolls-Royce. The rest of the main machinery will be provided by Norwegian and European manufacturers. All vessels will have DP-2 system, two vessels will be equipped with FI-FI 1 and two with FI-FI II and Oilrec systems.

Double Naming Ceremony of Russian Icebreakers

Double naming ceremony of Russian icebreakers Photo Havyard

On Saturday a double naming ceremony took place at Havyard Ship Technology, for the two icebreaking offshore vessels delivered to the Russian shipping company Femco. Femco Group is today the only privately-owned company in Russia specialising in operations of anchor handling vessels. The company has twelve offshore vessels with a long-term strategy of renewing its fleet. Last autumn, the icebreaking AHTS Aleut was delivered from Havyard Ship Technology. And now the two sister vessels Pomor and Normann are going to be delivered. Delivery time was an absolute requirement.

FEMCO Contracts Havyard for Ice Breaker Newbuild

Photo: Havyard

Havyard has been commissioned to design and build an ice breaker vessel for Russian shipping company FEMCO, to be designed by Havyard Design & Solutions in Fosnavaag, Norway and is going to be constructed at Havyard Ship Technology`s shipyard in Leirvik in Sogn, Norway. The vessel will become newbuild no.122 and is due to be delivered in September 2015. The Russian shipping company has also secured an option for the construction of one further Havyard 843 Ice. Havyard has experience in constructing icebreakers for Russian shipowners.

MME Inks Deal to Protect Luxury Cruise Vessels

Endeavor (Photo: MME Group)

MME Group has secured multiple orders for solutions that protect the newest generation of luxury cruise vessels built by MV WERFTEN (Germany) against corrosion and marine growth. The yard's "Global Class" and "Endeavor Class" vessels will be outfitted with MME Group's systems. Recently, MME Group inked the deal for the design, supply and commissioning of sacrificial anodes (SA), Impressed Current Cathodic Protection (ICCP) and Impressed Current Anti-Fouling (ICAF) systems for the Endeavor Class luxury expedition yacht (yard number 124) that MV WERFTEN builds for Crystal Cruises.

Moore Stephens Highlights New Accounting Rules

produce their accounts in a new, internationally agreed way. statements in accordance with International Financial Reporting Standards (IFRS). companies. And many other countries, too, have decided to move to IFRS. years. sit back and ignore the changes. those standards that may affect shipping. classify, separately, assets held for sale. least those at an advanced stage - for such disposals. being treated as held for sale. condition expected at the end of its useful life. prevailing scrap value. differently, but also what people are paid. now be detailed. interviews Pavel Lyshko, finance director of Russia's FEMCO.

DNV GL Lends Support to Walney 3 Offshore Wind Project

Image: DNV GL

DNV GL has secured a role as technical advisor to a group of institutional lenders with their investment of the 659MW Walney Extension. Located off the coast of North West England at Barrow-in-Furness, the Walney Extension offshore wind farm will bring a mix of wind turbine types, featuring 40 MHI Vestas V164 and 47 Siemens SWT-7.0-154 turbines. DNV GL conducted a detailed technical due diligence study and full independent energy production assessment, allowing the group of lenders to develop an understanding of the technical characteristics and risk profile.

Encik Rezza Resigns as ED of Bumi Armada Berhad

Shaharul Rezza. Photo: Bumi Armada Berhad

Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad has announced the resignation of Encik Shaharul Rezza bin Hassan, Executive Director and Head of Offshore Marine Services (OMS) of Bumi Armada Berhad. Encik Rezza will officially relinquish his roles at the Group on the 28 of February 2018. He has requested an early release from the Group to pursue other interests outside the Group. Rezza joined Bumi Armada in September 2005 and prior to his current role as Head of the OMS business, he was the CFO.

Ocean Yield Acquires Two Handysize Dry Bulkers

Photo: Ocean Yield Official Linkedin Page

Norwegian shipowner  Ocean Yield announced that 100% owned subsidiaries of the Company has agreed to acquire two 2018 built handysize dry bulk vessels with 12-year bareboat charters to companies owned and guaranteed by Louis Dreyfus Armateurs Group (LDA). The net cash purchase price is USD 18 million per vessel after a seller's credit. Both vessels are expected to be delivered to the Company during March 2018. LDA has options to acquire the vessels during the charter period, with…

Schulte's PRONAV Acquisition Greenlighted

The Hamburg-based Schulte Group said it has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist PRONAV. With this strategic move, the family-owned ship owner and manager continues to increase its capabilities and capacity in the growing liquefied natural gas (LNG) market. Through the acquisition of PRONAV, the Schulte Group has increased the number of vessels under full management in its third-party management fleet by six additional LNG carriers (LNGC). At present, the Schulte Group provides full management for three LNGC and crew management for 21 LNGC. Five LNGCs with a capacity of 173…

MacGregor Acquires Marine Business from TTS Group

MacGregor, part of Cargotec, has entered into an agreement to acquire the marine and offshore businesses from TTS Group, a global provider of cargo handling equipment and services for merchant and offshore ships for an enterprise value of EUR 87 million ($106 mln). The combination of the two businesses will produce greater scale and diversification and will strengthen MacGregor's portfolio and market position in key markets for cargo and load handling equipment. Based on preliminary estimates, potential cost synergies are estimated to be around EUR 30-35 million on annual level and are expected to be reached within three years from closing.

Western Bulk Eyes Strong Performance in 2018

Jens Ismar, CEO. Photo: Western Bulk

Norway's dry bulk shipping company Western Bulk made a profit in 2017, due especially to a strong finish to the year. This means that the carrier is again profitable after a double-digit deficit in 2016. The Group expects continued strong performance in 2018. After neutral performance for the first half of the year, the Company gained substantial momentum in the second half with the Group posting a profit after tax of USD 6.4 million. The full year profit after tax ended at USD 4.3 million, a significant improvement from the realised loss of USD -20.1 million in 2016.

Zeaborn Takes Over E.R. Schiffahrt

Erck Rickmers (Photo: E.R. Schiffahrt)

Hamburg entrepreneur Erck Rickmers has sold his ship management and ship brokerage activities. Effective January 1, 2018, Bremen-based Zeaborn Group acquired all shares in E.R. Schiffahrt GmbH & Cie. KG and shipbroker Harper Petersen & Co. With the takeover, Zeaborn’s shipping fleet under commercial and technical management has been expanded by 61 container vessels and 20 bulk carriers to more than 165 vessels. All staff, approximately 200 employees ashore and 2,800 at sea, will transfer to the Zeaborn Group. Nils Aden, currently chief executive officer of E.R.

NYK, NTT, MTI Conclude Joint Test of Next Generation Onboard IoT Platform

Image: NYK Line

Nippon Yusen Kabushiki Kaisha (NYK), MTI, Nippon Telegraph and Telephone Corporation (NTT), and NTT DATA Corporation have successfully conducted a proof-of-concept experiment for a next-generation onboard IoT platform. The test was held aboard Hidaka, a domestic coastal vessel owned and operated by Kinkai Yusen Kaisha of NYK Group. The NYK Group (NYK and MTI) previously developed a ship information management system (SIMS) that enables the gathering, monitoring, and sharing of detailed data between ship and shore, with the aim to promote safe, efficient operations.

WCI Presents Leadership Award to Senator Mitch McConnell (R-KY)

Senator Mitch McConnell (R-KY) received Waterways Council, Inc.'s (WCI) 17th Annual Leadership Service Award. Stephen Little, Chairman of Crounse Corporation, made the presentation. CREDIT: WCI

On February 14, 2018, Senator Mitch McConnell (R-KY) received Waterways Council, Inc.'s (WCI) 17th Annual Leadership Service Award for his strong and continued leadership on ports and inland waterways issues. He was presented the award by Stephen Little, Chairman of Crounse Corporation. WCI President & CEO Mike Toohey said, “We were honored to have the opportunity to celebrate Senator McConnell, who has been a stalwart advocate for the inland waterways in his state of Kentucky, but throughout the United States. Also on February 14, 2018, recently retired former U.S.

DNV GL Advised Partners Group on Offshore Wind Project

Image: DNV GL

DNV GL, the world’s largest resource of independent energy experts and certification body, has successfully completed a comprehensive due diligence project on the 730 MW Borssele III/IV construction-ready offshore wind project in the Netherlands. The work was commissioned by Partners Group, the global private markets investment manager, in preparation for its successful bid to acquire a 45% stake in the project on behalf of its clients. The investment will make funds managed and/or advised by Partners Group the largest shareholder in the Borssele III/IV farm.

Tug Malta’s New Tug Named

Damen ASD 2913 St Angelo (Photo: Damen)

St. On Friday, February 9, Tug Malta’s Damen ASD 2913 was named St. Angelo at a ceremony attended by the Prime Minister of Malta, Joseph Muscat, and the island nation’s Minister of Transport, Ian Borg. Acting as sponsor of the vessel was Mrs. Michelle Muscat, the wife of the Prime Minister. Tug Malta is part of the Rimorchiatori Riuniti Group. The ceremony was also attended by Tug Malta Chairman John E. Sullivan and CEO Mario Mizzi, Rimorchiatori Riuniti Group Chiefs Giovanni Delle Piane and Gregorio Gavarone and Damen Sales Manager Antonio Marte.

Coleman Joins Elliott Bay Design Group

Eric Coleman (Photo: EBDG)

Eric Coleman has joined Elliott Bay Design Group's team of naval architects and engineers, bringing with him six years of marine experience. Coleman’s experience is broad, with an emphasis on preliminary and detail design work of aluminum and steel vessels. He has worked on a wide variety of commercial vessels and charter yachts up to 210 feet in length. His background includes hands-on shipyard experience, comprising production oversight, class and regulatory compliance, and designing for production.

Sberbank, Sovcomflot Sign $106m Finance Deal

Ice-breaking LNG carrier Christophe de Margerie. Photo: PAO Sovcomflot

The largest bank in Russia Sberbank and shipping company Sovcomflot have signed a new USD 106 million project financing agreement, with a term of up to 14 years. The funds will finance the construction of a high ice class Arctic shuttle tanker (Arc7) for the Novy Port project, under a long-term agreement with Gazprom Neft. This is the third major transaction of its kind between Sberbank and Sovcomflot. The first joint project between the companies was in 2015, to finance the construction of three Arctic shuttle tankers to transport crude oil from the Novy Port field.

Noble Group deals to sell four ships fall apart

Photo: Noble Group

The commodity trader Noble Group says proposed agreements to sell four dry bulk carrier vessels fell through after the buyers failed to get approval from their boards, reports Strait Times. The disposal of the freight vessels for gross proceeds of about USD 95 million had been approved by Noble shareholders at a special general meeting on Jan 25. The crisis-wracked company estimates it would have received about USD 30mln in net proceeds if the vessels had been sold. The proposed disposal of the vessels is a part of the Noble’s debt reduction plans.

Noble Group: Sale of Four Bulkers Falls Through

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

Crisis-wracked commodity trader Noble Group said on Friday said proposed agreements to sell four dry bulk carrier vessels have fallen through after the buyers failed to get approval from their boards for the deals by Thursday. Noble estimated it would have received net proceeds of about $30 million if the vessels had been sold, after repayment of mortgages associated with the ships and other costs. "Noble Group wishes to update that the vessels are, in the current market, profit generating and cash flow positive," it said in a statement.

Culina Group to Set Base at Peel Group's Port Salford

Port Salford View Courtesy Peel Port

Food and drink logistics giant, Culina Group, has been announced as the first major tenant at the new National Import Centre being developed by the Peel Group, as part of its multi-million pound Port Salford development (located approximately 6 miles (9.7 km) west of Manchester City Centre in the UK). Culina Group will take occupation of the first warehouse distribution unit to be built on the Port Salford site - the UK’s first tri-modal inland port facility and Distribution Park, accessible by rail, road and short sea-shipping. The property comprises 26,022 sq. m. (280,000 sq.

Subsidiaries of ExxonMobil, Onassis Group, Goulandris Group Launch Double-hull Tanker

Exxon Mobil Corp. announced that M/T Kestrel, a new double-hull very large crude oil carrier (VLCC), was delivered for leasing to a Trust established by Marcare Shipping Co., a joint shipping venture among subsidiaries of ExxonMobil, the Onassis Group and Petros J. Goulandris Sons Group. Kestrel, the second of two sister vessels to be leased to the Marcare Trust, will be chartered by International Marine Transportation Limited (IMT), a subsidiary of Exxon Mobil Corporation based in the UK. Kestrel's sister ship, the M/T Hawk, was delivered for leasing on August 25, 2000. The joint venture, in which all three partners hold an equal share, was formed in December 1998. Ulsan, Korea shipyard. The 307,000 dwt Kestrel is 1,100 x 190 x 206 ft.

Maritime Reporter Magazine Cover Feb 2018 - Cruise Ship Annual

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