AI & Machine Learning, Possible Force Multipliers for the Coast Guard
Artificial intelligence (AI) and machine learning (ML): mention these two terms and the listener may instantly think of the ads displayed as you view your favorite online news site. This is one version of what AI/ML might be. Given the state of AI and ML research today, these advanced mathematical techniques represent something the U.S. Coast Guard should explore for mission application. To do this, common definitions need to be created, challenges understood, and practical use…
North American LNG Exports to Grow: Study
North American LNG exports will grow quickly until 2023 then plateau until a second wave of capacity comes online from 2025, McKinsey Energy Insights said in 2019 North American Gas Outlook.Global LNG supply overcapacity puts pressure on US liquefaction capacity utilization, which has among the highest marginal costs, it said.Balancing out global LNG overcapacity is equivalent to an average US LNG capacity utilization rate of 70% from 2019-21. Construction delays primarily at…
Hapag-Lloyd Names Rothkopf COO
Hapag-Lloyd has announced that Maximilian Rothkopf is to be its new chief operating officer (COO). He will take over as new COO of Hapag-Lloyd when Anthony J. Firmin retires in late June.Maximilian Rothkopf, who holds a master's degree as well as a doctorate in business administration, has been a Partner since 2014 at McKinsey & Company, where he has been a member of the global Travel, Transport and Logistics (TTL) leadership team. He started his career in 2005 at the management consulting firm…
ChainPORT Renews Digital, Environmental Commitment
Delegates from the world’s leading ports have come together to examine their role in the rapidly evolving maritime logistics landscape and in particular to coordinate their contribution to the establishment of an interconnected maritime supply chain at the Port of Barcelona.The multilateral partnership of the world leading ports, ChainPORT, has just concluded its 4th Annual Meeting which was hosted last week by the Port of Barcelona.ChainPORT was initiated in 2016 by the Port…
Virgin Hyperloop One Selects New Chairman
Global hyperloop pioneer Virgin Hyperloop One elects Sultan Ahmed bin Sulayem as Chairman and Jay Walder as CEO as company leverages new round of funding to begin implementation of hyperloop from Pune to Mumbai.Sultan Ahmed bin Sulayem is the Group Chairman and CEO of DP World. Jay Walder, who is one of the world’s leading mass transportation and technology executives, has been appointed as its new CEO. Walder will also join the company’s Board of Directors.The selection of a…
The Drones are Coming
Nimble and quick, unmanned aerial vehicles have evolved into a valuable tool for marine and offshore applications.When a U.S. oil tanker conducts a Critical Area Inspection Plan (CAIP) as required by ABS, it is an onerous process. For example, each tank requires seven days of set up with scaffolding and staging. An ABS inspector and UDT technicians must access, and be carefully lowered into the tank with instrumentation and tools. Inspection points in far reaching places are surveyed.
Diana Shipping Appoints Directors and Executive Officers
Diana Shipping announced that, effective August 1, 2018, the Company increased the size of its Board of Directors from nine to eleven members.The global shipping company specializing in the ownership of dry bulk vessels appointed Christos Glavanis to serve as a Class I Director and appointed Mr. Andreas Michalopoulos, the Company’s Chief Financial Officer and Treasurer, to serve as a Class III director, in each case effective August 1, 2018.The Board has determined that Glavanis is an “independent director” as such term is defined under the Securities Exchange Act of 1934…
ZF Appoints New Board Members
ZF Friedrichshafen AG's Supervisory Board has appointed Sabine Jaskula and Dr. Holger Klein to the company's Board of Management.Jaskula, an experienced HR manager and lawyer, will be responsible for Corporate HR and Legal functions from latest January 1, 2019. In this function, she will also be in charge of compliance. Dr. Klein has been appointed to ZF's Board of Management with effect from October 1, 2018. His responsibilities will include Car Chassis Technology and Aftermarket (service and parts business).
DP World Sets Its Sights on Hyperloop Cargo Shipping
Dubai-based port operator DP World has partnered with Sir Richard Branson’s Virgin Hyperloop One to create a new venture that aims to provide hyperloop-enabled cargo systems.DP World and the U.S.-based Virgin Hyperloop One introduced their vision for “the future of on-demand freight transportation” at an event on April 29 at the historic vessel Queen Elizabeth 2.The joint venture, called DP World Cargospeed, will set out to be the world’s first to ship cargo with hyperloop technology.
Asia's Soaring Gas Demand Beckons New LNG Projects
Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015, to almost 40 billion cubic metres (bcm) a month.
Container Shipping Struggles with Overcapacity: McKinsey
The container shipping industry is expected to continue to struggle with overcapacity and an inability to deliver value to shareholders, warns consultancy McKinsey & Company in its latest report. As container lines search for successful paths forward, they need to first determine what their strategy and potential role in the continuing industry consolidation will be. While mergers will continue, they do not need to be feared, just managed—and the guidelines in this report provide a starting point.
Norautron Names Johannessen CEO
The board of Norautron Group AS has appointed Trond K. Johannessen as president and CEO, effective as of June 1, 2017. Johannessen comes from the position as CEO of Hatteland Display AS. He has also been part of the executive management team in Tomra Systems ASA for several years and worked as a consultant for McKinsey & Company. In addition to his new role, Trond K. Johannessen will maintain his duties as CEO of Hatteland Display AS until further notice.
Refining Capacity Growth to Exceed Demand Until 2020 -Forecast
Until 2020, global refining will move toward lower utilization and margins as capacity growth exceeds demand, according to energy industry data and analytics specialist McKinsey Energy Insights (MEI). Post-2020, however, market conditions are expected to improve with higher demand for distillates due to marine pollution (MARPOL) regulations. MEI’s latest Global Downstream Outlook notes the last two years have seen major shifts as a result of falling crude price, a subsequent rise in global product demand and the fuel / oil balance.
DSME Denounces McKinsey Report
The report by Global consulting company McKinsey & Company that Daewoo Shipbuilding & Marine Engineering (DSME) is least likely to survive among the big three shipbuilding companies has brought about strong opposition from DSME. McKinsey Korea has issued its preliminary report on the state of South Korea's shipbuilding industry, and its conclusions are dire: McKinsey believes that Daewoo Shipbuilding and Marine Engineering may not survive past 2020, due to a forecast negative operating margin and a liquidity shortfall reaching as much as $3 billion.
China’s One Belt, One Road: Will it Reshape Global Trade?
The future of trade in Asia could depend heavily on what becomes of China’s expansive One Belt, One Road initiative, which calls for massive investment in and development of trade routes in the region. In this episode of the McKinsey Podcast, recorded in May, McKinsey senior partners Joe Ngai and Kevin Sneader talk with Cecilia Ma Zecha about One Belt, One Road—what it really means, what it needs to become a reality, and why people should take it seriously. Cecilia Ma Zecha, an editor with McKinsey Publishing, based in Singapore: What exactly is One Belt, One Road?
LOC Appoints Rutler as Group CFO
International marine and engineering consultancy LOC Group has appointed Jerome Rutler to the newly created post of Group Chief Operating Officer, responsible for LOC’s global operations including marine assurance and risk, energy and shipping sectors. Rutler has worked for more than 20 years in the oil and gas, petrochemicals and marine industries for a variety of companies, EPCI (engineering, procurement, construction and installation), consultancy and technical advisory. He also has experience as a company director, with particular expertise in management, operations and strategy. Rutler joins LOC from Bureau Veritas where he has worked for 13 years, most recently as vice president, corporate development for the Marine, Oil and Gas division.
Bunker Holding Buys LQM
Bunker Holding Group (Bunker Holding), a global leader in the purchase, sale and supply of marine fuel with 54 offices in 27 countries, announced today the acquisition of LQM Petroleum Services Inc. (LQM). LQM is one of the largest international marine fuel oil brokers who handles approximately 10 million mts per year across ~250 customers worldwide. The Company has a strong presence in the United States with offices in New Jersey, Connecticut and Texas; as well as offices in London, Paris and Singapore. Bunker Holding Group CEO, Keld R.
Nicaragua Canal Project Study Delivered, Details Scarce
A long-awaited study on the impact of the proposed $50 billion Nicaraguan waterway by a British consultancy has been delivered, a canal official said on Monday, the first major milestone since a symbolic groundbreaking six months ago. The social and environmental impact study by the consultancy, Environmental Resources Management Ltd, will be discussed by an inter-institutional commission in June, before being voted on by the canal commission in July, Telemaco Talavera, spokesman of the government canal commission, said. The 172-mile (278 km), Chinese-backed project, which the Nicaraguan government says will be operational by 2020, is one of the world's most ambitious infrastructure schemes, but has been met with widespread incredulity.
India Seeks Private Cash for Intermodal Bridge
Rail system needs more tracks and wagons; Not enough coal gets from port to power stations. India is targeting up to $1 billion of private investment by 2017 to build rail lines linking ports and national networks to ease growing congestion, which has delayed coal imports for power plants and contributed to a power supply crisis. Such investment would more than double the $400 million that India's state-owned railways have attracted in the decade since they allowed limited private participation and help fund crucial "last mile" links to ports. Cash-starved, India's British-built rail system has added just 11,000 kilometres (6,800 miles) of track in the 67 years since independence, and the network has come to symbolise the poor state of India's infrastructure.
Hans Hansen is DNV GL's Area Manager for Scandinavia
In the power sector DNV GL supports the industry in delivering a secure, sustainable, available and affordable energy supply. In his new role Hans Tormod Hansen will be responsible for offering energy advisory services to the Scandinavian market, assisting power transmission and distribution companies with strategic advice, planning, implementation and energy delivery optimization – from policy to use. “Having started my career at DNV, I’m fascinated by how the company has evolved over the years,” said Hans Tormod.
FLNG Prelude: A New Dawn in the Age of Maritime & Energy
Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting, game-changing floating liquid natural gas (FLNG) facility will serve as a prelude to a killing in the offshore LNG market. It’s not alone. Many industry observers believe FLNG will do for gas offshore what fracking has done for shale or natural gas trapped in the ground on shore. “This is revolutionary technology …[that]… has the potential to change the way we produce natural gas…
North American Oil Trains Under Scrutiny
Sheriff Craig Apple assured a room of concerned citizens that county emergency crews were prepared to handle an oil-train accident involving three or four tank cars. Firefighters have been training to combat railcar fires with foam, and evacuation plans are detailed in a 500-page emergency response plan, Apple told residents in a May 12 address. Albany's tracks handle as much as a fourth of the oil pumped from North Dakota's booming Bakken Shale, or up to several 100-car trains per day, each carrying 70,000 barrels. It is one of several spots along North America's new oil-by-rail corridors where residents and officials are restless, following six fiery derailments in the past 10 months.
China's "Ordinary" Billionaire Behind Nicaragua Canal Plan
Wang Jing, the enigmatic businessman behind Nicaragua's $50 billion Interoceanic Grand Canal, shrugs off scepticism about how a little-known entrepreneur can be driving a huge transcontinental project, insisting he's not an agent of the Beijing government. "I know you don't believe me," said Wang, who reckons that he's forked-out about $100 million in canal preparation work, and is burning as much as $10 million a month on the project. "You believe there are people from the Chinese government in the background providing support. High-ranking Chinese officials including President Xi Jinping, Premier Li Keqiang and former leaders Jiang Zemin and Wen Jiabao have all visited the state-connected wireless communication technologies company Wang took control of four years ago.