General Electric News

02 Dec 2019

Most Powerful Offshore Wind Turbine Erected

Power-Boom – both LR 11350 cranes were fitted with this system to increase their lifting capacity. The double lattice boom sections at the bottom produce a massive increase in lifting capacity values. Image: Liebherr

Swiss multinational equipment manufacturer Liebherr Group said that its cranes erected the prototype of what is currently the most powerful offshore wind turbine in the world in the Dutch port of Rotterdam.The gondola of the wind turbine, which measures an overall 207 meters in height, has a net weight of 675 tonnes. It was the heaviest load for the two Liebherr crawler cranes used for the job. In a tandem hoist, the two LR 11350 cranes managed a gross load of 780 tonnes and placed…

25 Nov 2019

GE Brings in Maersk's CFO as Finance Chief

Carolina Dybeck Happe (Photo: General Electric Co.)

General Electric Co on Monday named finance head at shipper AP Moller-Maersk as its new chief financial officer in the latest top-level change aimed at turning around the U.S. industrial conglomerate.Carolina Dybeck Happe will start in early 2020 and replaces Jamie Miller, whose departure was announced earlier this year as new Chief Executive Officer Larry Culp seeks to simplify operations and generate cash after booking billions of dollars in losses.The company has been struggling with the fallout of a series of poor long-term financial bets…

08 Nov 2019

Small Scale LNG Market to Grow by 6.81%

Cryogas-Vysotsk is Novatek's first small-scale LNG production project. Photo: Novatek

Global small-scale LNG market is expected to rise from its initial estimated value of USD 29.31 billion in 2018 to an estimated value of USD 49.66 billion by 2026, registering a CAGR of 6.81% in the forecast period of 2019-2026.Increasing demand for the LNG is the major factor for the growth of this market, said Data Bridge Market Research.The small scale LNG is especially used for the places where there is less production of LNG and they also don’t require large plants. They usually use tanker…

06 Nov 2019

GE Haliade-X 12MW Blade Arrives in US

Image: GE Renewable Energy

The blade for GE’s Haliade-X 12MW offshore wind turbine has arrived at MassCEC’s Wind Technology Testing Center (WTTC) in Boston, U.S.The 107-meter blade will undergo a series of fatigue tests that involve moving it millions of times over the period of a few months to validate that it can withstand more than 25 years of operation at sea. The testing is part of the process of commercializing GE’s Haliade-X 12 MW turbine -- the most powerful in the industry -- by 2021, strengthening the company’s ability to compete in a market steadily gaining momentum in the U.S.

04 Oct 2019

U.S. Drillers Cut Rigs Again: Baker Hughes

File Image: AdobeStock / © mentoys

U.S. energy firms this week reduced the number of oil rigs operating for a seventh week in a row as producers follow through on plans to cut spending on new drilling this year.Drillers cut 3 oil rigs in the week to Oct. 4, bringing the total count down to 710, the lowest since May 2017, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.In the same week a year ago, there were 861 active rigs.The oil rig count, an early indicator of future output…

27 Sep 2019

EOLOS Gets Capital Injection

Image:  EOLOS

EOLOS Floating Lidar Solutions, a start-up supported by EIT InnoEnergy, has completed a significant capital injection by the entity of the Swiss investment company Prorsum AG.Rajai Aghabi, CEO and founder of EOLOS, describes the capital increase as “a significant closing for EOLOS, allowing the present team the flexibility and capability to both grow and expand globally in the market of turn-key offshore wind data measurement campaigns, not only by strengthening our financial position…

24 Sep 2019

GERE Goes Carbon Neutral

Image: GE

GE Renewable Energy, the renewable energy arm of US industrial technology giant General Electric, announced its plan to make 100 percent of its operations carbon neutral by the end of 2020.GE Renewable Energy will reach carbon neutrality by reducing emissions through operational efficiencies, securing renewable electricity supply to all GE Renewable Energy sites throughout its operations for wind, offshore wind, hydropower, energy storage and grid businesses – and balancing remaining emissions with the purchase of carbon offsets to achieve a net-zero footprint.Jérôme Pécresse…

12 Sep 2019

Jan De Nul Enters French Offshore Wind Market

Image: Jan De Nul

Luxembourg-headquartered maritime contractor Jan De Nul Group has signed its first offshore wind construction contract in France.Sodraco International SAS, a French subsidiary of Jan De Nul Group, has signed a contract to transport and install 80 offshore wind turbines on the Saint-Nazaire offshore wind farm (OWF).The contract was awarded by Parc du Banc de Guérande, a joint venture between the French renewable energy company EDF Renewables and the Canadian energy infrastructure company Enbridge.“We are excited to contribute to the further development of renewable energy…

04 Sep 2019

Expedition Cruise Market Powers Ahead

National Geographic Endurance for Lindblad. Source: Ulstein Verft AS

While nothing lasts forever, the cruise industry – and particularly the ‘expedition’ cruise sector – remain on a historic run with no indication of a near-term slowdown.The leisure travel sector, of which expedition cruising is a part, offers numerous possibilities for delivering new “experiences” unlike industrial shipping businesses (or even conventional ferry and passenger transport), which can only grow as fast as the demand in a particular sector.Though there is no precise definition of “expedition”…

07 Aug 2019

Equinor,YPF Pact on Argentina Wind Power

Pål Eitrheim, executive vice president for New Energy Solutions in Equinor. (Photo: Ole Jørgen Bratland)

Norwegian multinational energy company Equinor ASA and Argentine power producer YPF Luz have joined for the development of the Cañadón León wind farm in Santa Cruz in Argentina.As per agreement, a subsidiary of Equinor will subscribe to shares in Luz del León. The shareholders of YPF Luz are YPF S.A and an affiliate of General Electric.The agreement establishes that Equinor will have a 50% stake of Luz del León, with an equity contribution of USD 30 million. After the subscription and capital integration…

22 Jul 2019

Floating LNG Power Vessel Market to $1bln by 2025

Pic: Wärtsilä

The global floating LNG power vessel market was USD 931 million in 2018 and is anticipated to reach USD 1,041 million by 2025, at a CAGR of 1.61% between 2019 and 2025.The floating LNG power vessel market is likely to experience significant growth over the upcoming years, owing to the growing demand for floating LNG power vessels, increasing power generation demand, and the lack of power infrastructure, said a market report by Zion Market Research.The floating LNG power vessel market is fragmented based on component, power output, and vessel type.

24 Jun 2019

Oilfield Communications Market to Grow 8%

© rawiii/AdobeStock

The global oilfield communication market is expected to grow with a CAGR of 8% over the forecast period 2019-2024, said a study.With the growing adoption of cloud-based services, oil companies are compelled to use oil field communication, said a report from ResearchAndMarkets. This keeps their offshore sites connected with the inshore site about production stats, which helps in better supply chain management.The smooth flow of materials is very important for oil companies as their profitability is highly dependent upon the turnover and downtime needs to be avoided.For instance…

15 Jan 2019

Offshore Wind Market Expected to Reach $50 bln by 2023

Image: Siemens

The global offshore wind energy market is poised to grow over USD 49.74 billion by 2023 at an estimated CAGR of around 11.12% during the period 2017 to 2023.The growth in this sector can be attributed to the increasing demand for clean and reliable energy in order to reduce the global carbon emissions and to maintain ecological balance by generating electricity through renewable resources, said a report by Market Research Future.However, high initiating capital cost of the projects with high maintenance cost and logistics issues, can hinder the offshore wind market.

23 Aug 2018

Scott Phillips Appointed Hiab President

Scott Phillips. Photo: Cargotec

Scott Phillips has been appointed President of Hiab crane manufacturing division of Cargotec group as of 1 October 2018. He will be a member of the Cargotec Executive Board and report to CEO Mika Vehviläinen. Scott Phillips joins Cargotec from General Electric where he holds the position of Vice President and CEO Mining. Prior to that, he has during his 28 years' career held various global leadership positions in the construction and mining industries, working for Sandvik and Caterpillar Inc., among others. "I warmly welcome Scott to Cargotec and Hiab.

16 May 2019

Simec Inks Technology Partnership with GE

Pic: Simec Atlantis Energy

Simec Atlantis Energy is set to team up with General Electric (GE) to develop the world's largest tidal stream turbine.According to a press release from Simec, its Atlantis Turbine and Engineering Services (ATES) division will enter into a Technology Partnership and Preferred Supplier Agreement (TPPSA) with GE’s Power Conversion business (GE).Under the terms of the partnership agreement, both parties will work together and share resources for the ongoing development of utility scale tidal energy generation and associated energy storage solutions.

17 Feb 2019

Panama Canal Appoints New Administrator

Ricaurte Vasquez. Pic: Florida State University

The Panama Canal Board of Directors announced the appointment of Ricaurte Vasquez as the next Panama Canal Administrator.According to a press note from the artificial 82 km waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean, Vasquez will take office on September 4, 2019, succeeding current Administrator Jorge L. Quijano, who concludes his seven-year term at the helm of the waterway.The decision was made by the Board of Directors in accordance to an independent…

18 Apr 2019

Voser Steps in as Interim CEO at ABB

Peter Voser (Photo: ABB)

ABB Chief Executive Ulrich Spiesshofer has quit the Swiss industrial group as the board and major shareholders look for a speedier turnaround at the maker of industrial robots and supplier of factory automation.Spiesshofer’s abrupt exit follows the launch of the biggest overhaul in ABB’s 31-year history to reposition the company more toward digital industries and agreeing to activist shareholder demands to sell its power grids business.But the latest revamp by the former management consultant failed to revitalize ABB’s stock…

22 May 2019

KVH Appoints Loke VP Asia Pacific

Ken Loke (Photo: KVH Industries)

KVH Industries (Nasdaq: KVHI) said that Ken Loke has been named Vice President – Asia Pacific, to direct all initiatives for KVH in this  region. Loke has extensive experience in satellite and managed services with top companies active in the telecommunications and maritime industries. KVH provides connectivity solutions for the maritime market, including global mini-VSAT Broadbandsm services used by thousands of vessels worldwide.Prior to joining KVH, Loke held the positions of chief commercial officer and chief executive officer for Eutelsat – Asia Pacific…

04 Jun 2019

F2I Buys Porto di Carrara

Image: Porto di Carrara

Italian infrastructure investment fund F2i announced its entry into the ports sector with the acquisition of the Porto di Carrara Spa (PDC Spa) Group, which owns port terminals at Carrara, Marghera and Chioggia.The Group, which each year handles around 5 million tons of solid bulk cargoes, is one of the main Italian port hubs and operates in the strategic sector of supplying some of the key Italian industrial segments, said a press release from the biggest Italian infrastructure fund with around 5 billion euro in assets under management.Most of the steel supplies for the districts of Brescia…

04 Jun 2019

Irving Shipbuilding Pushes Canadian Content

Pic: Irving Shipbuilding

Canadian shipbuilder Irving Shipbuilding Inc stated that it is committed to maximizing Canadian content and benefit through its construction of the Royal Canadian Navy’s Arctic and Offshore Patrol Ships (AOPS)."Our AOPS contract requires us to achieve at least 50% of Canadian Content Value (CCV) in direct work, recognizing that in some instances, we must procure material for the ships internationally," said the shipbuilding and repair company in Halifax, Canada in a press note.Today, approximately 70% of the work on AOPS is direct Canadian content.

08 May 2019

Tellurian to Decide on Louisiana Driftwood LNG Project in 2019

Tellurian Inc confirmed on Wednesday it still plans to make a final investment decision to build its proposed $30 billion Driftwood liquefied natural gas (LNG) export project in Louisiana in 2019:* The company, in a first-quarter earnings statement, said it was on track to make a final investment decision in 2019, start construction in 2019 and begin operations in 2023.* Driftwood is designed to produce 27.6 million tonnes per annum (MTPA) of LNG or about 4 billion cubic feet per day (bcfd) of natural gas. One billion cubic feet of gas is enough to fuel about 5 million U.S. homes for a day.* The company has said the first phase will likely comprise 16.6 MTPA.* Driftwood is one of more than a dozen U.S.

24 Mar 2019

Hydrogen Fuel for Zero Emission Cruise Ships

Pic: GE Power Conversion

General Electric’s (GE) Power Conversion business and Nedstack, Dutch fuel cell manufacturer, have entered into a partnership to develop hydrogen fuel cell systems for powering zero-emission cruise vessels.The two companies envisage using this technology on passenger ships, replacing traditional diesel engines with fuel cells, and heavy fuel oil (HFO) with hydrogen."This partnership brings together GE’s recognized expertise in cruise electrical power and propulsion solutions plus system integration capability…

27 Mar 2019

Arctic (& Wind) Operations: Hands Across the Water

Renderings of the proposed Aeolus wind support fleet

As the North American offshore wind model evolves, it is clear that fit-for-purpose, Jones Act compliant and Arctic ready tonnage will need to be part of the equation. If so, we’ve got that box checked, with a little help from Europe.As of September 2018, the Walney Extension off the United Kingdom is the largest offshore wind farm in the world at 659 megawatts. There are at least 70 major wind farms, each with hundreds of wind turbines, each generating as much as 10 megawatts in offshore England, the North Sea, Russia and China.

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

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