Investment Partnership News

British company Windship Technology has unveiled a whole-ship solution to tackle CO2 emissions from ships, launching its emissions-free bulk carrier and tanker designs alongside an investment partnership with classification society DNV.Starting from a clean drawing board, Technical Director Simon Rogers and his design team developed and tested at the Wolfson Unit in Southampton the company’s patented high performance, highly efficient triple-wing rig. The technical team further developed a new diesel electric ship drive system that eliminates CO2…

Vitol Investment Partnership(VIP), an investment vehicle sponsored and managed by Vitol, and IFM Investors, a global provider of investment services to institutional investors,  have agreed to acquire Buckeye Partners LP’s 50% equity interest in Vitol Tank Terminals International  (VTTI), a leading global independent provider of energy storage.On completion, VTTI will be owned 50% by IFM and 50% by Vitol and VIP. It will continue to be managed by an independent management team led by Rob Nijst, CEO.The transaction is subject to certain conditions precedent and is expected to close by year end.Rob Nijst, CEO VTTI says:  “It has been a pleasure working with Buckeye over the last two years and we wish Buckeye the very best in its future endeavours.

The European Union's trade chief described on Thursday the lack of a full trade accord between the bloc and the United States as ridiculous, but said the best that could be expected now was only a very modest agreement.Trade Commissioner Cecilia Malmstrom also rebuffed suggestions that the EU should simply seek to settle its differences over tariffs with the United States at the World Trade Organization, questioning whether the WTO's appeals process could survive in the longer term.EU leaders agreed last week to discuss opening their markets wider to U.S.

Honolulu-based Hawaii Stevedores, Inc. has received confirmation from Hawaii State Department of Transportation (HDOT) that, together with the state, Hawaii Stevedores will continue the joint development of the Kapalama Container Terminal (KCT). The state has confirmed its commitment for Hawaii Stevedores to lease the new 84-acre, state-of-the-art KCT, which will be constructed at the former Kapalama Military Reserve Terminal at Sand Island in Honolulu, as part of the state’s $448 million harbors modernization plan. “KCT is a shining example of a public/private investment partnership,” said George Pasha, IV, President and CEO, The Pasha Group, which owns Hawaii Stevedores.

The Commonwealth Enterprise and Investment Council (CWEIC) together with the Ship Owners Association of Nigeria (SOAN) have co-hosted an event on “The Future of the Maritime Industry in Nigeria” at Marlborough House in London on September 28. The event brought together investors, business leaders and government officials – representing maritime interests from across the Commonwealth – in a bid to stimulate discussion, increase cooperation and forge partnerships around the myriad opportunities of Nigeria’s maritime sector. The event was hosted as part of CWEIC’s Commonwealth Maritime Initiative (CMI), which aims to promote the maritime industry as a key driver of economic growth and trade (cargo carried by sea is set to quadruple by 2050)…

Grand Bahama Shipyard Limited (GBSL) has added three regional sales directors to its Marketing and Sales Division, with posts in the Americas, Europe and Asia/Middle East. According to the shipyard, their prime objectives will be to increase yard exposure, as well as develop future projects with existing and new customers for their refit, refurbishment or revitalization projects. Andre Szadzinski joined GBSL in August 2016 as Regional Sales Director for North and South America.

A free trade deal being negotiated by the European Union and the United States is at a dead end and an agreement with Canada is also at risk, Italy's industry minister said on Tuesday.   "I think (the TTIP deal) will fall through, and the agreement with Canada is at risk of doing the same. We have been negotiating it for too long," Carlo Calenda said at an event in Rome.   Calenda said confidence in the negotiations was lacking.   Talks on the Transatlantic Trade and Investment Partnership (TTIP), a sweeping U.S.-European free trade deal, started three years ago, but the two sides have been unable to settle differences over various issues, including agriculture.   (Reporting by Giuseppe Fonte, writing by Isla Binnie)

“Brexit” is the notion that the United Kingdom would leave the European Union. What would be the impact of Brexit on the shipping sector? Dr Vincent Power, EU & Competition Partner, looks at impacts of Brexit on the shipping sector. Shipping is extremely important to the EU. In 2014, more than 51.5% of EU external freight trade by value was transported by sea. More than 400 million people are transported by sea from EU ports annually. The EU’s 22 coastal Member States have more than 1,200 seaports offering direct employment to around 110,000 people and providing indirect support to around three million more. Almost 90 per cent of the EU’s external trade by volume is facilitated by seaports, as are 40 per cent of freight exchanges between member states.

The growing worldwide demand for marine technologies, port construction and shipbuilding is generating new export opportunities for U.S. companies. As more firms look to boost their bottom line by maximizing their reach to the more than 95 percent of world consumers who live outside of the United States, many are taking advantage of numerous export resources along the way. At the same time, many other businesses have yet to export. International Trade Specialist Maryanne Burke leads the U.S. Commercial Service’s Marine Technology Team, and is based at the Boston U.S.

EU and U.S. negotiators seeking a transatlantic free trade agreement expressed cautious optimism on Friday that they could resolve most issues by July, which could lead to a conclusion of a deal by the end of the year. The two sides are trying to agree on the Transatlantic Trade and Investment Partnership (TTIP), which supporters say could boost each economy by some $100 billion at a time of slowing growth in China and emerging markets. "We now have proposed texts in the vast majority of the negotiating areas... we are well into the nitty gritty of the negotiating process," Dan Mullaney, chief U.S. negotiator, told a news conference at the end of a 12th round of talks.

MISC Berhad informed that its wholly-owned subsidiary MTTI Sdn. Bhd.have entered into an agreement with VIP Terminals Finance B.V. to dispose 50 percent of the issued share capital of VTTI B.V. for a cash consideration of $830 million, subject to completion of the conditions precedent. VIP Terminals Finance B.V. is ultimately a wholly-owned subsidiary of Vitol Investment Partnership Limited, an investment vehicle sponsored and managed by the Vitol Group. Upon completion of the proposed divestment, VTTI will cease to be a joint-venture company of MTTI. Yee Yang Chien, President/CEO of MISC said, "For MISC, this divestment will enable us to unlock the value of our investment in VTTI B.V.

The European Commission will publish detailed reports on its negotiations with the United States to forge the world's biggest trade pact, EU trade chief Cecilia Malmstrom said on Friday, responding to criticism that the talks have been shrouded in secrecy. If agreed, the Transatlantic Trade and Investment Partnership (TTIP) would encompass a third of world trade, and proponents say it would deliver more than $100 billion of economic gains on both sides. But opponents in Europe have voiced concern that it could erode EU standards on food safety and the environment, and argue the negotiations have not been transparent. In a blog post, Malmstrom said one of her first decisions as trade commissioner when she took office last year had been to make the negotiations more open…

MISC Berhad and its wholly-owned subsidiary MTTI Sdn. Bhd. have today entered into an agreement with VIP Terminals Finance B.V. to dispose 50 percent of the issued share capital of VTTI B.V., for a cash consideration of $830 million, subject to completion of the conditions precedent. VIP Terminals Finance B.V. is ultimately a wholly-owned subsidiary of Vitol Investment Partnership Limited, an investment vehicle sponsored and managed by the Vitol Group. Upon completion of the proposed divestment, VTTI will cease to be a joint-venture company of MTTI. Yee Yang Chien, President/CEO of MISC said, “It has been a great pleasure working with Vitol over the past five years. We wish Vitol the very best in its future endeavours and we are confident that the good relationship we have will continue.

According to the Internatinal Chamber of Shipping, the United States Congress signaled last week its intention to approve major free trade deals with Asia and Europe. ICS voices serious concern about the potentially protectionist approach being taken by the U.S. with respect to the future transport of energy exports. U.S. energy exports by sea are predicted to expand massively as a consequence of the shale revolution. International ship operators, represented by ICS, are particularly anxious that a regime currently being developed to promote the carriage of Liquefied Natural Gas (LNG) exports on U.S. flag ships may set an undesirable precedent should the U.S. decide to lift the current ban on crude oil exports (as is being considered by Congress at the moment).

“The prosperity of the United States is inextricably entwined with that of the rest of the world and international trade agreements provide stability and equity enabling increased trade,” said American Association of Port Authorities (AAPA) President and CEO Kurt Nagle in support of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015), which the Senate just approved and the House approved on June 18. He added, “Port cargo activity accounts for over a quarter of the U.S. economy and provides more than 23 million American jobs. As the unified and recognized voice of seaports in the Americas, AAPA has both independently, and in partnership with the Trade Benefits America coalition, strongly urged federal lawmakers to make TPA-2015 a priority.

Seaspan Corporation announced today that it has entered into an agreement with Greater China Intermodal Investments LLC and Blue Water Commerce, LLC to extend the term of their Right of First Refusal Agreement by one year to March 31, 2016. GCI is Seaspan's investment partnership established with an affiliate of global asset manager The Carlyle Group and others, including affiliates of Seaspan's director Graham Porter and of its largest shareholder, Dennis R. Washington. Under the ROFR Agreement and subject to its terms, Seaspan has a right of first refusal in respect of containership investment opportunities identified by GCI, as well as a right of first offer in respect of certain proposed containership sales by GCI.

Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined that the sixth negotiations round of the Trans-Atlantic Trade and Investment Partnership (TTIP) should include concessions from the American side on maritime transportation issues. Specifically, he called for European access to the “feedering” of international cargo in U.S. domestic trades and access to the American dredging and offshore sectors. They didn’t ask for anyone’s first born child, but I suppose that there’s still time to issue that edict before the end of the summer. EU and US negotiators met in mid-July for the sixth Trans-Atlantic Trade and Investment Partnership (TTIP) negotiations.

Japan's Prime Minister Shinzo Abe touted the success of his economic policies on a visit to Brazil on Friday and said it was time for the two nations to expand their trade and investment partnership. On the first visit to Brazil in a decade by a Japanese prime minister, Japanese banks extended $700 million in loans to boost Brazilian soy and corn exports to Japan and build ship platforms for Brazil's burgeoning offshore oil industry. Abe told Brazilian business leaders that Japan has closed a 15-year deflation cycle since his stimulus policies began to kick in and there is great potential to expand trade and investment with Latin America's biggest economy. "With Japan growing again, we can grow with other nations," he said in comments to executives translated by an interpreter.

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital, an investment partnership of global maritime companies that draws on the maritime heritage of the BW Group and DNV GL to assist Corvus deliver its growth strategy. “We are very pleased to complete this process and continue to drive both the commercial success and the innovation of our solutions not only for the maritime industry, but also in a number of adjacent sectors where our value proposition and competitive advantage is well established,” commented Andrew Morden, Interim CEO of Corvus.

Lithium-ion battery systems manufacturer, Corvus Energy, says agreement in principle has been reached with BW Ventures’ Green Marine Capital (GMC), a Maritime Technology Investment Partnership, for a strategic investment of US$5 million to fund working capital requirements. Corvus also says that Andrew Morden, Chief Financial Officer, has been appointed interim CEO replacing Brent Perry effective May 5, 2014. “The Board of Directors and majority shareholders of Corvus are very pleased to partner with Green Marine Capital. The firm is focused on the benefits that our technology brings to the marine industry and understands its future potential.” commented Nick Andrews, Chairman of the Corvus Board of Directors.

Corvus Energy today announced that it has entered into an agreement in principle with BW Ventures’ Green Marine Capital (GMC), a Maritime Technology Investment Partnership, for a strategic investment of $5 million with the primary purpose of funding working capital requirements. “The Board of Directors and majority shareholders of Corvus are very pleased to partner with Green Marine Capital. The firm is focused on the benefits that our technology brings to the marine industry and understands its future potential.” commented Nick Andrews, Chairman of the Corvus Board of Directors. “GMC is an industry leader and they have the capability to promote our technology quickly and globally and accelerate its deployment into the marketplace.

On 18 September 2013, Thom Dammrich, president of the National Marine Manufacturers Association and Robert Marx, President of European Boating Industry, signed a joint declaration stating the intention of both organizations to work together in order to reduce and looking ahead, eliminate, unnecessary regulatory costs and unjustified regulatory differences between the EU and the US in the boating industry. This common declaration is occurring during the wider EU-US trade negotiations which were launched in July 2013 under the name of Transatlantic Trade & Investment Partnership (TTIP). President Robert Marx from European Boating Industry explained that “the US and the EU are natural trade partners and have a long tradition of exchanges in the boating industry…

MarineNews: What did you do before coming to Senesco Marine, and how did you get into the shipbuilding industry? How does your former field compare/contrast with the marine business? Gary Schuler: I served as CEO of Bostitch, a $500 million producer of pneumatic tools and fasteners, from 1980-1990. After leaving there, I was involved in some turnaround situations before joining an investment partnership. The majority investor at Senesco Marine, whom I've know for about 20 years, gave me an opportunity to invest in the company and become CEO. So that's how I got into the shipbuilding business. I had no prior experience in shipbuilding, but I have been in manufacturing all my life, specifically in the design, production, and delivery of pre-engineered metal buildings.