Mergers: Commission to Assess Acquisition of Chantiers de l'Atlantique by Fincantieri
The European Commission has agreed to the request submitted by France and Germany asking it to look at Fincantieri's proposed acquisition of Chantiers de l'Atlantique in the light of the EU Merger Regulation.The Commission considers that the transaction could harm competition at European and global level.The proposed acquisition of Chantiers de l'Atlantique by Fincantieri does not reach the turnover thresholds set by the EU Merger Regulation for transactions notifiable to the European Commission because of their European dimension. However, the plan was notified for authorisation in France and Germany.France submitted a referral request pursuant to Article 22(1) of the EU Merger Regulation.
Northern French Ports Ready to Ease Congestion from Brexit Fallout
Smaller ports in northern France are ready to absorb more shipping traffic from Britain if congestion builds up due to any fallout from Brexit, a top French official said on Wednesday.The Ports of Normandy Authority (PNA) currently owns and operates Cherbourg and Caen-Ouistreham terminals and will take on operating Dieppe nearby in 2019."We can accept more (traffic) and we would like to accept more if there is congestion on the east side of the UK," Philippe Deiss, managing director of the PNA told Reuters during a trade visit to London.Over 1 million passengers and over 100…
De Boer Names Two New Tugs
A naming ceremony was held for two custom tugs built by Damen Shipyards Hardinxveld for De Boer Remorquage SARL, a joint venture between Dutch Dredging and Iskes Towage and Salvage. The ceremony took place in the port of Cayenne in French Guyana.According to the shipbuilder, both vessels represent innovative solutions and one of them has additional modifications that enable it to undertake dredging and other associated activities.Present at the event where representatives from a number of French government agencies and the port authorities…
CMA CGM Inaugurates the Incubator ZeBox
Rodolphe Saadé, chairman and chief executive officer of CMA CGM Group and French minister in charge of transport Elisabeth Borne inaugurated ZeBox, a new start-up incubator and accelerator in Marseilles.Initiated by CMA CGM, ZeBox is a human-sized incubator and accelerator with two objectives: Support start-ups throughout their development by immediately projecting them into an international dimension; and enable large companies to benefit from the innovations developed by these start-ups in their respective business sectors.On the occasion of the inauguration of ZeBox…
France Confirms Fincantieri-STX Shipyard Deal, Cautious on Defense Merger
The French government continues to support Italian shipbuilder Fincantieri's takeover of STX France, finance minister Bruno Le Maire said on Wednesday, but cautioned against hastening a related defense naval merger.Speaking in Rome after a meeting with the Italian government, he told journalists France had not changed its position on the deal, quelling concerns the takeover could be hampered by tenser relations between Paris and Italy's new anti-establishment government.However, he warned against hastening a merger between Fincantieri and French military shipyards operator Naval Group which ha
Migrants Rescued by Boxship Land in Sicily
More than 100 rescued migrants from private cargo ship Alexander Maersk, picked up off the coast of southern Italy on Friday, arrived in the southern port of Pozzallo in Sicily on Tuesday. The new Italian government has closed its ports to ships operated by charities in the Mediterranean, saying the European Union must share the burden of disembarking migrants rescued at sea, mostly off the Libyan coast. The Alexander Maersk is a container ship owned by Maersk Line, part of Danish transport and logistics A. P. Moller-Maersk Group, and is not operated by a non-governmental organisation.
Shippers Push to Undermine EU Ship Recycling Regulation
The EU member states’ experts on ship recycling met in Brussels to discuss the latest developments, six months ahead of the application of the 2013 Ship Recycling Regulation. With the recent decision by the Chinese government to stop the import of end-of-life ships for scrapping, the shipping industry is quick to lament that there will not be enough recycling capacity and that there will be too few options for them under the EU List of approved recycling facilities. The industry claims that the standard set by the EU must be lowered so that beaching yards can be approved.
Naval Group Names Dupont Director, International Trade
With effect on 2 April, François Dupont is appointed Director of the International Trade department at Naval Group. He will oversee all the areas in which Naval Group has prospective customers. He reports to Alain Guillou, Executive Vice President, Development. International development represents a major challenge for Naval Group, whose international sales should represent 50% of its revenues by 2020, compared to a third currently. François Dupont joined Naval Group at the age…
Ecoslops for Feasibility Study on Suez Canal
Ecoslops announces that it has made further progress in its project to expand in Egypt by signing a Memorandum of Understanding (MoU) with the Suez Canal Economic Zone for the development of a detailed feasibility study. The potential for recovering oil residues transiting the Suez Canal is estimated at more than 40,000 tonnes per year, based on 18,000 passages and 7,000 ports of call. Egypt also has important world-class ports like Alexandria, generating more than 5,000 calls a year, which also have significant potential for waste generation.
Total to supply LNG for CMA CGM's Future Boxships
Total to supply 300,000 T of LNG a year for 10 years. Total will supply liquefied natural gas (LNG) to CMA CGM to fuel the container shipping group's future very large vessels, the French companies said on Monday. CMA CGM had said last month it would use LNG to power the nine extra-large vessels it has on order, a first such move in a shipping industry grappling with how to comply with tougher rules on emissions. Under the 10-year agreement, oil and gas major Total will supply around 300,000 tonnes of LNG per year to CMA CGM, starting in 2020, the companies said in a statement.
France, Italy Agree on STX Shipyard Ownership Split
The French and Italian governments have agreed on a shared ownership deal of the STX France shipyards, but with a clause giving France the right to take control if needed, Le Monde newspaper reported. Le Monde reported, citing an adviser to French President Emmanuel Macron, that Italian company Fincantieri could get 51 percent ownership, including a 1 percentage point stake lent to it by France, which France could take back. Italian state-owned shipbuilder Fincantieri declined to comment.
France Sees Quick Accord on STX, Sees Naval Deal Taking Longer
France hopes for agreement over the future of the STX France shipyards at a Franco-Italian summit on Sept. 27, but a separate deal on warship co-operation would take longer to negotiate, French Finance Minister Bruno Le Maire said on Thursday. "I would like us to have an agreement between the French and Italian governments on STX for the summit on September 27," Le Maire told reporters after a meeting with suppliers in the aerospace sector. France clashed with Italy in July after ordering a "temporary" nationalisation of STX…
Fate of Seine-Nord Canal Project Depends on Funding
A project to build a canal to link Paris with major harbours of northern Europe will depend on lining up the necessary funds, the French government said on Wednesday, without saying if it believed the finance could be found. France has long planned to build the waterway dubbed the Seine-Nord canal to allow large barges to sail from Paris to the harbours of Antwerp and Rotterdam, reducing truck traffic on its motorways. The project has been studied for more than a decade and funding options for the 4.5 billion euro ($5.3 billion) programme have been discussed with regional governments and the European Union. The previous government had set up a project company with a view to start work on the 107 kilometre canal in 2017 and have it ready by 2023.
France Nationalizes Shipyard to Thwart Italian Majority
France will temporarily nationalise the STX France shipyard to prevent an Italian firm taking majority control, the economy minister said on Thursday, marking President Emmanuel Macron's first big industrial policy decision. As France's most avowedly pro-business leader in decades, few would have predicted the former investment banker's first big move in the corporate sector would be a nationalisation. However, his action fits with the interventionist style of other postwar French leaders. It also crosses into the defence sector, where many national governments prefer to wield influence over ownership. The Italian state-owned shipbuilder Fincantieri rejected a French offer this week of 50-50 ownership of the shipyard…
France to Nationalize STX if Italy Deal Fails
French govt has made 50/50 ownership offer to Italy; Minister says offer on the table until Thursday. The French state said on Wednesday it would nationalise the STX France shipyard if Italy does not accept its offer to split STX's capital equally, putting down a marker on the limits of economic liberalism under new President Emmanuel Macron. The threat raises the stakes in a standoff with Rome over the shipyard's fate, the only one in France with facilities large enough to build aircraft carriers.
France Could Nationalise Saint-Nazaire Shipyards
The French state is considering nationalising the Saint-Nazaire shipyards before selling it to new investors if no deal can be reached with Italian shipbuilding group Fincantieri, Le Monde newspaper said on Friday. Shipbuilders MSC and Royal Caribbean have already expressed an interest, the newspaper said. State-owned Fincantieri has made a bid for STX France, which specialises in building cruise ships at France's Saint-Nazaire shipyard. The sale forms part of a broader sell-off of businesses following the demise of the South Korea's STX shipbuilding group. However, completion of the deal has been delayed as the French government has made clear it does not want Fincantieri alone to hold more than 50 percent of STX…
France: STX France talks with Fincantieri to Continue
French industry minister Christophe Sirugue said he would meet Italy's Fincantieri in a week's time to discuss its bid for STX France, but added France was still against Fincantieri gaining dominance in the governance of STX France. "Our position is that we do not want Fincantieri to be the sole majority shareholder in the governance of Saint-Nazaire shipyards," Sirugue told Reuters on Friday, speaking on the sidelines of a news conference in Paris. "We continue to work with Fincantieri and we will probably have to meet again in a week's time".
Fincantieri's STX Bid Approved by S.Korean Court
French state holds 33 pct of STX France; acquisition could boost Fincantieri's position in cruise shipbuilding. A South Korean court approved on Tuesday Italy's Fincantieri as the preferred bidder to buy shipbuilder STX France, helping Fincantieri move closer to a deal that could boost its position in the cruise shipbuilding market. The Seoul court spokesman, who announced the decision on Tuesday, declined to give further details on the situation, while a Fincantieri spokesman also declined to comment. The sale of STX France, which specialises in building cruise ships and is profitable, forms part of the broader sale of businesses from the demise of the South Korean STX shipbuilding group.
France May Step in on Shipyard Sale
France may intervene in the sale of the Saint-Nazaire shipyard by bankrupt South Korean shipbuilder STX if the French government's conditions are not met, Industry Minister Christophe Sirugue said. "The government is fully mobilised and will not hesitate to use all of the levers at its disposal," Sirugue told French daily Les Echos in an interview published on Friday. The French state, which owns a third of STX France and its western Saint-Nazaire shipyard, has a right of refusal on the sale of STX Offshore & Shipbuilding's majority stake once a winning bid has been selected…
Fincantieri the Sole Bidder for STX France
Italian shipbuilding and construction group Fincantieri SpA is the only bidder for shipping group STX France, a source close to the matter said on Tuesday. The sale of STX France, which specialises in building cruise ships in the western France city of Saint-Nazaire and is profitable, forms part of the broader sale of businesses from the collapsed STX shipbuilding group. A spokesman for a Korean court overseeing the process had said earlier on Tuesday that one bid had been received for the STX France business, without giving a name. A spokesman for the Seoul court overseeing STX Offshore's receivership had said in November that four parties had expressed interest in buying one or both of South Korea's STX Offshore & Shipbuilding Co Ltd and a controlling stake in STX France.
France to Defend Interests in STX Shipyards
The French government has told South Korea it will oppose any solution for shipbuilder STX France that is against national industrial interests, Industry Minister Christophe Sirugue told Reuters on Thursday on the eve of a deadline for bids. STX France is 66.7 percent owned by failed South Korean shipbuilding group STX. An insolvency court in South Korea ruled last month that the French arm could be sold either separately from the parent, or as part of a bigger sale. Bids are due by Nov.
Scorpene Submarine Data Leak: Setback to Indian Navy
India has began multiple investigations to determine the extent of damage caused by the reported massive leak of secret data detailing the combat and stealth capabilities of the Indian Navy’s soon-to-be-inducted Scorpene submarines. The government thinks that the leak of the detailed plans for the stealth submarines of the Indian Navy, built by the French military manufacturer DCNS (in which the French government has majority stakes), is a matter of serious concern. 'The Australian'…
DCNS Predicts Turning Point for Tidal Power
Tidal power is moving beyond the prototype stage for state-backed French naval shipbuilder DCNS, which is targeting a billion euros in sales from the technology in the next decade. DCNS, which is 35 percent owned by defence group Thales and 64 percent by the French state, builds warships and submarines but aims to sell its first commercial tidal power system in four years and wants to get up to 25 percent of its sales from renewable marine energies by 2025. The firm bought Ireland's OpenHydro…