Marine Link
Monday, February 19, 2018

Itg Group News

ITG Orders Two Ulstein PSVs

Ulstein PX121 PSV

The ROC yard, China, will construct two platform supply ships of Ulstein’s PX121 designs for the ITG Group. The contract includes an option for two additional vessels. According to Ulstein, the PX121 has become very popular among various ship-owners and investment companies, and ROC is a new yard entering the stage of constructing vessels carrying the X-BOW hull line design from Ulstein. This inverted bow leads to reduced speed loss in waves, and consequently less fuel oil consumption, and the absence of slamming is an attractive feature as the comfort for the crew is increased.

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.

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…

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.

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.

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.

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.

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.

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.

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.

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.

MOL Allies with NCC

VLCC Kazusa. Photo: MOL

Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed a capital and business alliance agreement with chemical tank specialist logistics provider Nippon Concept Corporation (NCC). "MOL and NCC concluded the agreement with the objective of developing a comprehensive two-way strategic partnership including both partners' group companies, and steadily enhancing their businesses," said a statement from the company. The agreement gives NCC the opportunity to globally increase…

Ammar Kanaan Appointed CEO of Terminal Investment by MSC

Photo: MSC

The shipowning group Mediterranean Shipping Company (MSC) has appointed Ammar Kanaan as Chief Executive Officer of its cargo container terminals arm Terminal Investment Limited (TiL). TIL directly manages or crosses 53 container terminals in ports of five continents. As the founder and Chairman of International Port Management, Ammar Kanaan brings a wealth of expertise and 30 years’ experience in the transport and port sectors. He has built companies focused on port management…

Morén Rejoins MJP

Photo: Marine Jet Power (MJP)

Marine Jet Power (MJP) welcomed Nils Morén as International Sales Manager responsible for sales in Israel, India, Taiwan and South Korea. In this role Nils will be responsible for business development and customer relations, reporting to MJP CEO, Magnus Sörenson. Nils originally joined MJP in 1996, during which time he was mainly responsible for sales for 14 years. During his tenure Nils was a key player and helped secure many notable contracts including orders worldwide. Most…

Policy Planning Lessons for Maritime Students

Photo: International Maritime Organization (IMO)

Students from the International Maritime Law Institute (IMLI) in Malta are being introduced to key policy planning issues as part of International Maritime Organization (IMO)'s on-going work to support the future leaders of the maritime world (15-16 February). The event focused on the National Maritime Transport Policy (NMTP) formulation, which is being promoted by IMO as a good governance practice to guide planning, decision making and legislation in the maritime sector, and a key driver for a country's sustainable development.

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.

Updated ECDIS 4.0 Now Available

Photo: eMaritime Group

The latest 4.0 Reference cards for the Type Specific Manufacturers are now available to download. The eMaritime Group have published a three minute video explaining how these non-profit procedure cards work at the above link. Managing Director Mark Broster from ECDIS, which is part of the eMaritime Group, stated,"We appreciate the significant effort and help received from hundreds of shipping companies, manufacturers and OEMs that have supported their production. They are designed to help keep ships stay safe and prepare for 2018 S52 4.0 ECDIS audits and inspections."

Jason Marine CEO to Retire

Joseph Foo Chew Tuck (right) will take over for retiring CEO Ronald Tan Lian Huat (left) at Jason Marine Group (Photos: Jason Marine Group)

Joseph Foo Chew Tuck will take over as chief executive officer at Singapore based marine electronics systems integrator Jason Marine Group, following the retirement of long-serving CEO Ronald Tan Lian Huat.   On March 31, Ronald Tan Lian Huat will step down as a director of the Jason Marine and its subsidiaries and associated companies after more than 35 years with the group.   Company founder Joseph Foo Chew Tuck, who currently serves as executive chairman, will assume the role of CEO from April 1, 2018.

LR Appoints Butcher as Managing Director

Lloyd’s Register (LR) has announced the appointment of Paul Butcher as Managing Director, LR Management Systems & Inspection Services. Based in Birmingham, U.K., Butcher brings with him over 30 years of leadership experience in global professional services businesses. After graduating from Southampton University, Butcher held a number of leadership roles in the assurance, IT services and telecommunications sectors, including positions with SAI Global, Marconi, Ericsson and Damovo. With full responsibility for the leadership and development of Lloyd’s Register’s Management Systems and Inspection Services international business, Butcher will play a key role in building on the organization’s outstanding reputation for service and delivery to clients.

Fincantieri Buys 50% STX France

Photo: STX France

The Italian shipbuilder Fincantieri signed Friday an agreement to buy 50% of the share capital of France's STX Shipyard, for 59.7 million euros. This takeover is part of the agreement in principle reached in September between France and Italy, which put an end to months of tension between the two countries. "The signing takes place after the resolution of the share purchase agreement previously signed between Fincantieri and STX Europe on May 19, 2017 as a consequence of the exercise…

Maritime Reporter Magazine Cover Feb 2018 - Cruise Ship Annual

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