Toyota Backs Japanese $1.8 Bln LNG Vessel Order
Japanese car manufacturer Toyota Motor Corporation is turning to LNG-powered ships to transport its cars across the globe, according to a report from Japanese daily Nikkei. The company has backed an investment in up to 20 LNG-powered car carriers with the capacity to carry 7,000 vehicles each, as it is preparing for the environmental regulations that will go into force in 2020. Nippon Yusen Kaisha (NYK), Kawasaki Kisen Kaisha (K Line) and Toyota’s Toyofuji Shipping are expected to be in the running for the contract, which is estimated to be approximately $1.83 billion.
Great Workboats of 2017: Apply Now
Will your vessel be honored as a “Great Workboat of 2017” in the December 2017 edition of Marine News? Every year, Marine News profiles the most outstanding vessels built in shipyards in North America, recognizing builders, owners and designers as leaders in their field. This edition — the much anticipated end-of-the-year edition — generates much excitement, as your work is profiled and delivered to the largest audited b2b maritime industry audience in this genre. The only way…
Global BCOs Hit by Rising Contract Rates from Asia
Contract freight rates paid by Beneficial Cargo Owners to move their products by container have increased for a 4th consecutive quarter, according to actual contract rate data from the Drewry Benchmarking Club. Average contract rates on two major container trade routes - from Asia to North Europe and North America – have increased by another 4% between the second and the third quarter of this year. This means that the latest Drewry Benchmarking Club Contract Index has increased by 39% in the year to the third quarter, based on $2 billion of ocean freight spending.
Jackson Promoted to Assistant VP at MOL
Diana Jackson has been appointed to assistant vice president, equipment, North America at MOL, where she will be responsible for equipment control throughout North America as well as for the North America trade. Jackson has worked for MOL since 1977 when she was employed by former MOL agent, Williams Dimond and Company. Prior to her latest promotion, Jackson served as MOL’s Director of Equipment, North America. Additionally, she has worked extensively in the areas of operations, traffic, sales, customer service, and documentation.
KOHLER Launches New Oils for Generator Applications
A new line of aftermarket genuine oil from KOHLER is engineered specifically for generator applications. The fully-synthetic premium oils are available in three formulations for different fuel types and are optimized for use in industrial, mobile, marine and home generators. “Generators have to run when they’re needed – there’s no room for downtime,” said Patricio Iligaray, Manager of Aftermarket Parts for Kohler Power Systems. “And, the oil you choose makes a real difference. Generators are subjected to unique conditions that are different from engines that power other applications.
FMC's Doyle: LNG Bunkering Needs to Move Forward
FMC Commissioner William P. Doyle delivered the keynote address to LNG Bunkering North America conference Vancouver, Canada, providing insight into LNG as a marine fuel and LNG bunkering. "Liquefied Natural Gas (LNG) bunkering in North America is moving forward. Quite frankly it needs to move forward,” Doyle said. “There is an abundant supply of natural gas in North America. Doyle touched upon hot topics such as MARPOL Annex VI and its feasibility, natural gas’ environmental benefits…
Zarmati Named President & CEO of Costa Cruise Lines—North America
Maurice Zarmati has been named president and CEO of Costa Cruise Lines—North America. Zarmati, who is currently vice president of sales for Carnival Cruise Lines, will assume his new role beginning March 31, 2008. An accomplished sales executive, Zarmati has been with Carnival Cruise Lines since 1972, leading one of the largest and most successful sales teams in North America. In his new role as president and CEO of Costa Cruise Lines—North America, Zarmati will report directly to Gianni Onorato, president of Costa Crociere, and will be responsible for all sales and marketing efforts for Costa’s North and Central American regions. This includes sales development, marketing, revenue management, finance, human resources and passenger services.
Harkand North America Salvaged by MBO
A team led by AJ Jain, Harkand North America Managing Director, has agreed to a management buyout (MBO) of Harkand’s North American and African business. The new company, to be named ETHOS OFFSHORE LIMITED, will continue to provide subsea engineering and construction services to Harkand’s existing US, Mexican and West African client base to market-leading standards. The new company, backed by investment funds advised and managed by Oaktree Capital Management, L.P. (“Oaktree”), is expected to have a contracted backlog of $145 million worth of projects. The move also could potentially safeguard more than 100 jobs across North America, Africa and Mexico.
Fincantieri Forms New Company in U.S.
Italian shipbuilding powerhouse Fincantieri has formed a new company, Fincantieri Marine Systems North America, Inc. FDGM, Inc., the U.S.-based subsidiary of Fincantieri, will be absorbed by this new company. The establishment of this new company is part of the vision of the Fincantieri CEO Giuseppe Bono to enlarge its presence in the global maritime market. Drawing on the vast resources of the parent company and forming strategic partnerships with other U.S. companies, Fincantieri Marine Systems North America, Inc. is uniquely qualified to provide fully engineered and integrated propulsion systems and machinery plant solutions to the U.S. shipbuilding industry for naval and commercial vessels. Service to the U.S.
Cummins Reports Revenue Jump in Q2 2014
Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013. The increase year-over-year was driven by stronger demand in on-highway markets and distributor acquisitions in North America. Revenues in North America increased 14 percent while international sales decreased 1 percent compared to the second quarter a year ago. Within international markets, lower revenues in Mexico, Brazil and India offset stronger demand in China.
MOL, Changes to N America Sales Team
MOL (America) Inc.’s Product Management Team has announced changes to its North America Sales Management. Effective immediately, Dennis Sheehan, Vice President Atlantic Services will direct MOL’s sales activities in the US Northeast, Midwest and Southeast regions, while Jim Galligan, Vice President Pacific Services will lead sales activities in the US Western States and Mexico. In their new assignments both gentlemen will report directly to Thomas M. Kelly, Executive Vice president and Chief Operating Officer for North America Area Management. MOL’s Product Management Team also includes Stephen Ryan, Vice President North America Customer Service and Richard Craig, Vice President Area Operations.
Swiss Re Establishes North America Marine Team
Swiss Re Corporate Solutions has expanded its marine business by opening a North America marine office. Beginning October 1, 2015, the New York-based team will provide ocean cargo insurance, with additional products to follow, the company said. Leading the marine North America team will be Graeme Schultz, who brings 18 years of industry experience to the role. Swiss Re Corporate Solutions said the new marine team will support its regional North American clients, enabling better service to midsized-to-large manufacturers, importers, exporters and logistics providers, among others. Swiss Re Corporate Solutions now has dedicated marine teams in Zurich, Genoa, London, Sao Paulo, Paris, Singapore, Mexico City and Shanghai.
COWI NA Merges its Marine Companies
Ben C. Gerwick, Inc. and Ocean and Coastal Consultants, Inc. COWI North America, Inc. (COWI NA) announced that its two marine companies, Ben C. Gerwick, Inc. and Ocean and Coastal Consultants, Inc. will join forces to establish COWI Marine North America (COWI Marine NA). According to the company, the new entity will aim to compete with top national specialist marine firms. COWI NA announces that effective January 1, 2015 Ben C. Gerwick (Gerwick) and Ocean and Coastal Consultants (OCC) will merge operations to form the new specialist business unit in North America…
Kounalakis Joins OW Bunker N. America
OW Bunker, a reseller and physical supplier of marine fuels, announced the appointment of Georgia Kounalakis to its physical supply operation in North America. Kounalakis joins the region’s senior team to take on responsibility for business development and help to drive further sales growth across North America, in line with the company’s global expansion strategy. Kounalakis joins OW Bunker North America from Aegean Marine Petroleum Inc, where she most recently held the position of General Manager – Americas.
DNV Recommends LNG Shipping for North America
DNV’s new report, Greener shipping in North America, proposes that LNG l is the most efficient and economical way to meet air emissions requirements in the U.S. and Canada that take effect in August 2012. Environmental Control Areas (ECA) will gradually be enforced along the North American coastlines. They will have full force in 2015 and 2016, leaving shipowners a limited number of options for modifications to their ships if they want to continue trade in North America. Specifically, the use of LNG fuel for a ship would reduce nitrous oxide (NOx) emissions by 85-90%, sulphur dioxide (SO2) and particulate matter by almost 100%, and it would result in 15-20% less greenhouse gas emissions.
Iveco Opens N. American Ops
Iveco, a leading Italian manufacturer of commercial vehicles and diesel engines, announced the opening of its U.S. engine operations, Iveco Motors of North America, in conjunction with the unveiling of their new brand name, Iveco Motors. Serving 79 countries with their acclaimed diesel engines, Iveco Motors opened North American operations in Carol Stream, IL to respond to the demands of the growing Canadian and the U.S. marketplace. The new U.S. operation will serve as an independent engine business that will focus on application development, sales, marketing and support of Iveco’s total line of engines. The new location will include a full service and parts department to assure OEM’s 100% customer satisfaction.
Cummins Reports Results for Q2 2013
Cummins Inc. today reported results for the second quarter of 2013. The company said they expect full year revenues to be in line with 2012. Second quarter revenues of $4.5 billion increased 2% from the second quarter of 2012. Revenues in North America increased by 7% and international revenues declined by 4%. Within international markets, growth in Brazil and China was offset by weaker demand in Europe, India and Mexico. Earnings before interest and taxes (EBIT) were $621 million or 13.7% of sales, compared to $663 million or 14.9% of sales a year ago, excluding special items. Net income attributable to Cummins in the second quarter was $414 million ($2.20 per diluted share), compared to $465 million ($2.45 per diluted share) in the second quarter of 2012 excluding special items.
CMA CGM Deploys Theodore Roosevelt on SAX
The CMA CGM Theodore Roosevelt will be deployed on the South Atlantic Express (SAX) line, linking Asia East Cost to North America Cost through the Panama Canal, says a statement from the company. With transit times among the fastest in the market between Asia and North, Central America and with an optimal coverage, the SAX line offers a high-quality service to the Group’s customers. This line is also operating through the OCEAN Alliance powered by CMA CGM. In recent years, CMA CGM in the United States has grown to become an industry leader…
Masterman President, CEO ESAB, N. America
ESAB Welding & Cutting Products announced the appointment of Andrew Masterman as President and Chief Executive Officer of ESAB North America. Masterman will be based in Florence, S.C., and will replace Brendan Colgan, who will be assuming the role of Chairman of The ESAB Group, Inc. (North America) and will also assume additional responsibilities by year's end as Operations Director for ESAB Global including India, South America, Asia Pacific and China. Masterman was previously president of Metalico’s Platinum Group Metals division.
Wrist Seals Record Deal
Wrist Ship Supply, part of the Wrist Group, announced the acquisition of World Ship Supply, West Coast Ship Supply, East Coast Ship Supply and Karlo Corporation – collectively known as One Source North America - the largest ship supply organization in North America. The move represents the largest deal in the Wrist Group’s corporate history, and provides the organization with a major footprint into the U.S. and Canadian markets. The acquisition marks Wrist Ship Supply’s fifth deal in the past 12 months, and continues Wrist Group’s strategy of controlled global expansion. The Group now has a significant presence in all key global regions in Europe, The Far East, Middle East and the Americas. OneSource has a turnover of $120m and employs 259 people.
Iveco Launches New N. American Ops
Iveco announced the opening of its U.S. engine operations, Iveco Motors of North America, in conjunction with the unveiling of their new brand name, Iveco Motors. Serving 79 countries with its diesel engines, Iveco Motors opened North American operations in Carol Stream, IL to respond to the demands of the growing Canadian and the U.S. marketplace. The new U.S. operation will serve as an independent engine business that will focus on application development, sales, marketing and support of Iveco’s total line of engines. The new location will include a full service and parts department to assure OEM’s 100 percent customer satisfaction.
Trelleborg Acquires US Marine Fender Company
Swedish based Trelleborg AB has finalized the acquisition of Maritime International, Inc., a U.S. based privately owned designer and manufacturer of marine fender systems and other quay accessories. The transaction will be consolidated as of October 15, 2015. Trelleborg said the bolt-on acquisition aims to strengthen its presence in berthing, docking and mooring in North America as part of its strategy to improve its position in attractive market segments. “With the acquisition…
Donnelly Appointed President, Wärtsilä North America
Frank W. Donnelly has been appointed President, Wärtsilä North America, Inc. He is also continuing as Vice President, Power Plants in Wärtsilä North America. After graduating from Rice University, Houston, Texas, Donnelly began his career with the French engine manufacturer, SACM, as its head of North American operations. During this period, he focused primarily on offshore generation for semi-submersibles and standby power for nuclear plants. Donnelly joined Wärtsilä in 1988 in connection wíth the acquisition of SACM. During the 90s, he was active in Wärtsilä's Power Development and sales of power plants in Central America and Caribbean.