Ocean Yield Invests in 3 NAT Suezmaxes Newbuilds
Ocean Yield ASA has agreed to acquire three suezmax crude tankers with 10-year bareboat charters to Nordic American Tankers Limited (NAT). The net purchase price is USD 43.2 million per vessel after seller's credit. The net purchase price constitutes 77.5% of the gross purchase price, which is equal to the yard contract price. The vessels are scheduled for delivery by the yard, Samsung Heavy Industries, South Korea, in June, August and October 2018. NAT will have options to acquire the vessels after year 5 and 7 in addition to an obligation to repurchase the vessels at the end of year 10.
Navig8, Ocean Yield in Chemical Tanker Deal
Norway’s Ocean Yield has bought eight chemical tanker newbuildings for $306.8m from Navig8 Chemical Tankers Inc, which will lease the vessels back on 15-year "hell and high" bareboat charters. Navig8 Chemical Tankers has options to buy the vessels during the charter period, with the first option exercisable after five years. The Oslo-listed ship-owner Ocean Yield will provide Navig8 Chemical Tankers with a pre-delivery loan matching the remaining yard installments for the STX vessels.
Ocean Yield to Acquire Four LR2 Product Tankers
Norway’s Ocean Yield ASA has agreed to acquire four 115,000 dwt LR2 product tankers which are currently on order from Navig8 Product Tankers at Sungdong Shipbuilding in Korea. Ocean Yield has agreed to acquire the product tankers for a total consideration of USD 198.1 million, in combination with 13 years "hell and high water" bareboat charters to Navig8 Product Tankers Inc, says a company statement. The four vessels are being built at Sungdong Shipbuilding & Marine Engineering Co., Ltd, Korea, and are scheduled for delivery in January, March, May and July 2016.
BIMCO applauds IMO for setting emission target
"The IMO has done something no one has done before: set an absolute target for emission reductions for an entire industry. It is a landmark achievement in the effort to reduce emissions, and something that every other industry should look to for inspiration," says Lars Robert Pedersen, BIMCO Deputy Secretary General and delegate at the IMO meeting. BIMCO is very satisfied with the Green House Gas (GHG) strategy adopted by the International Maritime Organization (IMO) at the Marine Environment Protection Committee on April 13.
Eight LARS Systems Delivered to the Kuwait Coast Guard
Ending 2016, TBV Marine Systems, part of High-Tech Solutions & Design B.V., has finished the commissioning for eight FRC/RHIB Launch and Recovery systems (LARS) that have been delivered for four new vessels ordered by the Kuwait Coast Guard. For this project, the LARS was designed to carry a craft with a length of nearly nine meters, with a maximum weight of six tons. For each vessel, the stern ramp was designed to carry two systems, which were both powered by one hydraulic power unit.
SBS Worldwide Announce Lars Kloch as CEO
SBS Worldwide promoted their U.S. CEO Lars Kloch to CEO – Freight Division, expanding his existing U.S. role to take responsibility of their global freight operations. Kloch takes up the role with immediate effect and will become responsible for developing SBS Worldwide’s global freight product offering, both nationally and internationally. Lars started his career at Dan Transport in Denmark (now DSV) and went on to work at Exel Global Logistics before moving to the U.S. in 2004 where he held various senior sales…
Pedersen BIMCO Deputy Secretary General
BIMCO has appointed Lars Robert Pedersen as new Deputy Secretary General of BIMCO as of 1 February 2010. Lars Robert Pedersen is currently Director of Regulatory Affairs in Maersk Maritime Technology at A.P. Moller-Maersk Group in Copenhagen. Apart from being part of the Management team, BIMCO's two Deputies will respectively overlook the two most important areas of the association's work. Lars Robert Pedersen will focus on further consolidating BIMCO's Industry Affairs activities involving political and regulatory developments at international…
GAC Group Appoints Bengt Ekstrand President
Global shipping, logistics & marine services provider GAC Group appoints Bengt Ekstrand as its new Group President. Ekstrand is currently Group Vice President of GAC’s Asia-Pacific region and was previously the head of the Middle East region. "Bengt brings substantial experience in GAC’s core businesses plus an intimate understanding of GAC’s values to the position of Group President," says GAC’s Group Executive Chairman, Björn Engblom. Engblom paid tribute to Capt. Säfverström for his successful management of the GAC Group’s worldwide expansion.
General Counsel Sjöbring Quits Transocean
Transocean Ltd. today announced that Lars Sjöbring, Senior Vice President and General Counsel, has informed Transocean that he will be leaving the company. Mr. Sjöbring has agreed to aid in the search for a replacement, but will resign no later than December 31, 2015. "Lars has done an outstanding job guiding Transocean through the extensive litigation following the Macondo Well incident, and was instrumental in securing the related settlements with BP and the Plaintiff's Steering Committee announced earlier this year," said Jeremy Thigpen, Transocean's President and Chief Executive Officer.
Employee Representatives Elected to NORDEN Board of Directors
The new employee representatives will join the Board of Directors immediately following the annual general meeting, which will be held on Thursday, April 23, 2015. The present employee representatives Ole Clausen, Anne-Katrine Nedergaard and Lars Enkegaard Biilmann will withdraw from the Board of Directors immediately following the annual general meeting on April 23, 2015. However, Lars Enkegaard Biilmann will join the Board of Directors again as he has been reelected.
EIVA CEO Hansen Resigns
The board of directors of maritime and offshore software provider EIVA has accepted Lars Hansen’s resignation as CEO. Hansen has accepted a new management position in the United States and will relocate to the US with his family towards the end of the year. “We have appreciated Lars’ dedicated management style and straightforward way of communicating during the time we have had the pleasure of working with him. We wish Lars and his family all the best on their relocation to the US”, said Frans Boch, Chairman of the Board as comment from the board of directors of EIVA. The board of directors has initiated the process of recruiting a new CEO.
Forland Selects Kongsberg Evotec ROV System
New systems enhances ROV handling capabilities. Kongsberg Evotec, a wholly owned subsidiary of Kongsberg Maritime, has been selected to supply its sophisticated new Launch and Recovery System (E-LARS) for Remotely Operated Vehicles (ROV), for installation on a new Forland Shipping AS subsea vessel currently under construction at Havyard Leirvik, Norway. The Kongsberg Evotec’s E-LARS installation for Forland Shipping’s new 110 meters long, 22 meters wide subsea vessel, which is due for delivery in 2013, consists of both an ‘overboard’ system and a ‘moon pool’ system. The system is designed to handle work class ROVs with or without a Tether Management System (TMS) to depths below 4000m.
Radio Holland, Lars Thrane Team
Radio Holland Group and Lars Thrane A/S concluded a global distribution agreement for the LT-3100 Iridium system. As a ‘kick-off’, mid-March Peter Thrane (CEO & Co-founder) and Thomas Flinth (Sales Manager) visited the Rotterdam office of Radio Holland Netherlands for a sales presentation, a commercial and a technical training. The global agreement enables every Radio Holland office in the world to distribute the LT-3100 Iridium system as well as perform after-sales service and maintenance.
Endorsement of Emissions Trading
SEAaT, the association dedicated to shipping emissions abatement and trading, welcomed the endorsement of the concept of emissions trading for shipping by the British Chamber of Shipping as a Red Letter Day for the shipping industry. On Dec. 15 the Chamber of Shipping announced its support for an emissions trading scheme (ETS) in line with land-based industries in Europe, whereby polluters are either given or must buy permits for their level of their emissions. SEAaT Secretary-General, John Aitken said: “The Chamber of Shipping has shown the kind of leadership the shipping industry requires if demonstrable and meaningful reductions in greenhouse gases from shipping are to be achieved.
ROV Launch/Recovery System Chosen for Subsea Vessel
The Kongsberg Evotec's E-LARS installation for Forland Shipping's new 110 meters long, 22 meters wide subsea vessel, which is due for delivery in 2013, consists of both an 'overboard' system and a 'moon pool' system. The system is designed to handle work class ROVs with or without a Tether Management System (TMS) to depths below 4000m. Technical highlights of the new system include the use of Permanent Magnet Motor (PM) technology and an innovative control system designed…
New CEO, Co-CEO to Lead MHI Vestas Offshore Wind
Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems (Vestas) have appointed Philippe Kavafyan to Chief Executive Officer (CEO) and Lars Bondo Krogsgaard to Co-Chief Executive Officer (Co-CEO) of MHI Vestas Offshore Wind. The appointments will take effect on 1 April, 2018, and are made in accordance with the joint venture agreement's principle of changing its leadership every four years. Under the leadership of out-going CEO Jens Tommerup and Co-CEO Tetsushi Mizuno, MHI Vestas Offshore Wind has established itself as a leading player in offshore…
KMSS Appoints New President
Per Branstad, has completed his 2 year assignment to organize and integrate the three companies which together now comprise an important part of Kongsberg’s Marine and Offshore Operations. Branstad will now return to his specialist field within Kongsberg in the development of the Maritime Training Business. Commenting on the company’s performance during his tenure as President Per said “KMSS has continued to expand & reinforce its positive market position since the merger two years ago and I am delighted to hand over a fit enterprise to an enthusiastic new president. the Asian market, which is already the centre of the world ship building industry. worked for many years based in Indonesia, Singapore and Hong Kong.
Rhodin Appointed Swedish Club Deputy Managing Director
Lars Rhodin has been appointed Deputy Managing Director of The Swedish Club. His appointment takes effect on September 1. Lars Rhodin, previously Director, Claims & Legal Support, will work alongside Managing Director Frans Malmros in implementing a new structure for the Club centred around five teams – three based in Gothenburg and the others in Piraeus and Hong Kong. The new organisation, headed by an Insurance Division, will be introduced from October 1. The Piraeus and Hong Kong teams will continue to be headed by Clas Rydén and Tord Nilsson respectively. The Leaders of the three Gothenburg teams have yet to be appointed. The Gothenburg teams will be organised on the broad basis of geographic zones of membership.
ODIM Gets Contract
A contract worth $10m covering automated handling equipment has been awarded to ODIM by Zhejiang Shipbuilding (Sinopacific Group) in , reports indicated. The delivery comprises four automated ODIM LARS launch and recovery systems for remotely operated vehicles (ROVs), and two ODIM ABAS deck cranes. The handling equipment is due for delivery in 2009, and will be installed on the two IMR-vessels (inspection, maintenance and repair) being built for Neptune Offshore, . ODIM's Launch And Recovery System (ODIM LARS) is an established industry standard onboard new subsea vessels. The Launch And Recovery Systems will handle remotely-operated vehicles being used in water depths down to 4 000 metres. Source: Yoursubseanews.com
Second ROV Secured Aboard 'Seabed Prince'
A Subfighter 15k ROV has been mobilised onto the Swire Seabed AS vessel, deployed using an active heave compensated LARS system. The vessel is also fitted with a 3,000m Heavy Duty Work Class ROV, currently operated by an active heave compensated A-Frame system. This additional ROV will increase redundancy on certain IMR and subsea requirements and also present the opportunity for simultaneous operations. Seabed Prince is currently available prompt in Dundee, having completed a North Sea sensor recovery project on 16th December.
Norstar to Launch JV
The tanker company Norstar is setting up a new Commercial Management joint venture based in Westport Connecticut USA named Norstar Chartering (USA) LLC. The new entity is a collaboration between brothers Chris and Tom Bonehill, principals of the Norstar Group and two senior shipping industry executives Lars Ebbesen and Olav Ekeberg formerly partners of Sokana Chartering and Navig8 Chemicals. Tom Bonehill said, “We are delighted to be joining forces with Lars and Olav to form this new company.
Staffing changes at MAN Diesel in Denmark
With effect from 1st January 2007, Stefan Eefting (41) has taken over as manager of MAN Diesel PrimeServ in Frederikshavn and Holeby in Denmark. Lars Peter Olsen (49) was already appointed as new site manager in Frederikshavn on 1st December 2006. Both managers have worked in various positions at MAN Diesel for many years. Lars Peter Olsen, in his role as site manager, is not only responsible for the Frederikshavn site, but also continues to perform the duties of his post of production manager in Copenhagen. Lars Peter Olsen has been with MAN Diesel since 1983. He is a mechanical engineer and also holds a Bachelor of Commerce degree. Stefan Eefting has previously headed up MAN Diesel PrimeServ’s technical service division at the Augsburg head office.
Transocean Appoint Lars Sjobring Senior V-P & General Counsel
Mr. Sjobring will join the company upon completion of the notice period with his current employer and will be based in Geneva, Switzerland. In the interim, Mr. Allen Katz will continue to serve as the company's Interim Senior Vice President and General Counsel. His qualifications include over 15 years of law practice in international settings, and he received his education in both Europe and the United States. Mr. Sjobring has been serving as the Vice President Legal Affairs, General Counsel and Secretary of Autoliv, Inc., an automotive safety supplier, since 2007.