Pon Holdings Acquires Imtech Marine
Pon Holdings BV will take over part of the bankrupt Royal Imtech, a leading company in the global maritime market. Dutch engineering services company Imtech Marine will continue to operate independently after the acquisition. Parcom Capital is also partnering in this acquisition. The acquisition price is not disclosed. The ailing Imtech was formally declared bankrupt on Thursday. The takeover creates peace of mind and security amongst employees, customers and suppliers. Imtech is operating as a full-service provider and system integrator of tailor-made…
Buyers Reach Agreement on Imtech Takeover
Pon Holdings and Parcom Capital announced they have agreed to buy Imtech Marine, the marine division of Dutch engineering services company Royal Imtech who has been declared bankrupt. No monetary figures have been shared. The final details of the takeover are yet to be worked out. Pon Holdings and Parcom Capital claim their advent as the new shareholders guarantees the continuity of Imtech Marine while also allowing the company to realize its growth ambition. The takeover creates peace of mind and security among employees, customers and suppliers, the buyers said in a press release. “We are extremely happy with Pon Holdings and Parcom Capital as the new ‘owners’ of Imtech Marine,” said René ten Brinke, Director Global Services of Imtech Marine.
Imtech Marine Acquisition Finalized by Pon, Parcom
The acquisition of Imtech Marine by Pon Holdings and Parcom Capital has been finalized. The European Commission has approved the takeover of the leading maritime service provider. Imtech Marine will continue to operate independently and will, in the coming period, further focus on its growth ambitions. René ten Brinke, CEO of Imtech Marine: ‘’Now that the acquisition is completed, a new era arises for Imtech Marine. The coming years, our aim will be to further strengthen our leading position in the maritime sector, with dedicated focus on our customers, employees and suppliers. Imtech Marine is a company in the global maritime market, operating as a full-service provider and system integrator of tailor-made, innovative and sustainable technology solutions covering the whole ship.
Radio Holland Awarded Remote Monitoring Agreement
Radio Holland, part of the newly formed company RH Marine Group, has been awarded a Remote Monitoring Agreement from The China Navigation Company (CNCo). Under the new agreement, Radio Holland will install VDR Remote Interface on board three more CNCo vessels (Coral Chief, Highland Chief and New Guinea Chief). The company’s decision to place these three vessels under a Remote Monitoring Agreement follows a successful pilot scheme on its multipurpose vessel, the Papuan Chief. RH Marine Group…
Imtech Bankrupt, Parts Sold to Investors
Dutch engineering services company Royal Imtech has been declared bankrupt and its Marine and Nordic divisions are being sold to private investors, the company and its administrators said on Thursday. Imtech, which employs 22,000 people in 35 countries and has annual sales of roughly 4 billion euros ($4.5 billion), filed for protection from creditors on Tuesday after its German unit filed for insolvency. The break-up of Imtech, once a darling of the Amsterdam stock exchange, capped more than two years of financial turmoil triggered by accounting fraud at its Polish and German units. No figures were given, but Imtech said the sale of the two units would secure 7,300 jobs.
India Develops 14 Economic Zones for Port-led Industrialization
For promoting port-led industrialization, 14 Coastal Economic Zones (CEZs) covering all the Maritime States and Union Territories have been identified as part of the National Perspective Plan under the Sagarmala Programme. The Perspective Plans for all 14 CEZs have been prepared in consultation with relevant State Governments and Central Ministries. The idea behind developing the zones is to promote 'development of port-proximate industrial clusters'. Gujarat, Maharashtra, Karnataka…
W & O Supply Announces Leadership Changes
W&O Supply, a supplier of marine valves, pipe, fittings, engineered products and valve automation systems, announces a change in leadership. David Turner, currently the President and CEO of W&O Supply, has been promoted to the position of Director of Business Development for Pon Power, W&O Supply’s parent company, and Chairman of W&O Supply. In his new role, Turner will be tasked with growing the Pon division on a global basis during the next five years. Additionally, Turner will leverage marketing and growth opportunities in existing markets as well as execute against Pon Power’s global marine business growth goals. Turner’s new position requires his relocation to Holland where he will work out of the Pon Power headquarters in Almere, The Netherlands.
Hume New W&O CEO, Guidry Advances in Pon
W&O, supplier of marine valves, pipe, fittings, engineered products and valve automation systems, announced that Michael Hume has been appointed President and CEO of W&O. He has been serving as the company’s Chief Operating Officer since 2009. Jack Guidry, former president and CEO of W&O, has been promoted to Senior Vice President of Pon and CEO of PVI, one of Pon’s American holding companies, which owns W&O, DMC-Carter Chambers and AT Controls. He will be relocating to Houston to lead and continue to grow the PVI group…
Imtech Marine Becomes RH Marine Group
The new RH Marine Group, formerly known as Imtech Marine was introduced at the Europort exhibition in Rotterdam today. Following the recent acquisition by Parcom Capital and Pon Holdings, Imtech Marine will now be known as RH Marine Group, built on the roots of founding companies Radio Holland and van Rietschoten & Houwens. The two ‘pillars’ for service and newbuild activities within Imtech Marine are also involved in the new naming structure. Global NavCom, Connectivity, On Board ICT service and maintenance brand Radio Holland will keep its name but will have a new logo.
Pon Power Supplies Engines, Gensets for ALP, Ulstein
Pon Power Scandinavia, a supplier of marine power and propulsion systems, announced that the company has been contracted by ALP Maritime Services and Ulstein Design & Solutions to provide engines and gensets to four oceangoing AHTS. Designed to tow large structures over long distances, the ALP Future Class tugs represent next-generation of AHTS, Pon Power said. The vessels, developed by Ulstein Design & Solutions in close cooperation with the owner, ALP Maritime Services, are SX157 design, with a 300-ton bollard pull, capable of operating at full loads for 45 days without refuelling. Øystein Solberg, Account Manager for Pon Power Scandinavia, said that under the terms of the contract, Pon Power Scandinavia will provide four main engines and gensets for all four vessels.
India Exempts Biometric Enrolment to Promote Cruise Tourism
In order to promote cruise tourism in the country the Government of India has exempted cruise tourists arriving with e-visa from the requirement of biometric enrolment for the major ports, said Union Minister of State for Shipping Pon. Radhakrishnan. The exemption will be in effect in the ports of Mumbai, Cochin, Chennai, Mormugao and New Mangalore for a period of three years till 31st December, 2020. The Government has also taken steps for customer-friendly and hassle-free immigration regime for cruise passengers such as implementation of e-visa and e-Landing cards at the five ports.
Iridium is Flying High Again
The fight in the maritime satcom sector is somewhat analogous to the one fought by Apple and Microsoft in the early ‘80s: two tech companies, polar-opposite philosophies and a raging battle for market share. Market watchers likely have noted an increased “competitive spirit” among providers of ship-to-shore communication services. • the need to keep crew content with Email, Internet & entertainment. A corporate driver for change has been Iridium, the McLean, VA-based…
Ocean Yield Acquires Four VLCC
Ocean Yield has announced that 100% owned subsidiaries of the Company have agreed to acquire four VLCC crude tankers with 15-year bareboat charters to companies owned and guaranteed by Okeanis Marine Holdings. All four vessels are sub-chartered to the shipping arm of a large industrial conglomerate for a period of 5 years. The gross purchase price is USD 83.75 million per vessel and the net cash purchase price is USD 74.25 million after a seller's credit of USD 9.50 million. The vessels are scheduled for delivery by the yard, Hyundai Heavy Industries, South Korea, in Q2-Q3 2019.
W&O Employees Volunteer at Local Food Bank
Employees of W&O, an international supplier of products and services to the marine industry headquartered in Jacksonville, Fla., volunteered their time with the Second Harvest Food Bank of North Florida last week. The employees volunteered their time sorting and stocking food during the workday as part of W&O's corporate responsibility program, Time2Help. Time2Help is an initiative launched by W&O's parent company, Pon, that allows employees to dedicate 1% of their time—or two full days per year for full-time employees—to work on a community service project…
Fuel Savings Confirmed by Ships on ABB DC Grid
ABB say that the first documented results from Onboard DC Grid vessel confirm considerable fuel and noise reduction through the use of its Onboard DC Grid, where engines to run at variable speeds for top fuel efficiency at each load level. ABB explain that its Onboard DC Grid represents a breakthrough for the maritime industry in optimized propulsion by distributing power through a single DC circuit providing significant power savings while also improving the safety and redundancy compared with traditional AC systems. up to 27 percent.
CAT 3500 D-F Gensets Power Rio Fast Ferries
Caterpillar Marine with Cat Dealer Pon Power are pleased to announce the first Cat 3512C marine generator sets with Dynamic Gas Blending (DGB) have been selected to power Assessoria Transporte Aquaviaro fast ferries for the 2016 Olympics in Rio de Janeiro, Brazil. A total of 28 Cat generator sets will be installed on 7 aluminum-hull fast ferries, with 14x Cat 3512 generator sets and 14x Cat 9 generator sets providing prime and auxiliary power. Each 3512 generator set will provide 1550 eKW @ 60 Hz of rated power.
Cat to Power Ferries for 2016 Olympics in Rio de Janeiro
Caterpillar Marine and Cat Dealer Pon Power announced the first Cat 3512C marine generator sets with Dynamic Gas Blending (DGB) have been selected to power Assessoria Transporte Aquaviaro fast ferries for the 2016 Olympics in Rio de Janeiro, Brazil. A total of 28 Cat generator sets will be installed on seven aluminum-hull fast ferries, with 14x Cat 3512 generator sets and 14x Cat 9 generator sets providing prime and auxiliary power. Each 3512 generator set will provide 1,550 eKW at 60 Hz of rated power.
Stena Line, Caterpillar Marine Begin Digital Partnership
Ferry operator Stena Line and Caterpillar Marine, together with Pon Power, have entered into a digital partnership where the Cat Asset Intelligence solution will provide vessel monitoring of multiple Stena new builds with planned delivery during 2019 and 2020. The vessels will be optimized for efficiency and flexibility and will be built by AVIC Shipyard in China. Unlike technologies that only monitor individual equipment performance, or focus only on very specific operational parameters…
Caterpillar to Power Stena Line's New RoPax Ferries
Caterpillar Marine has announced Cat power solutions have been selected to power four 3100 LM RoPax Ferries for Stena Line. Each ferry will be equipped with two MaK 12 M 43 C propulsion engines. “By combining a set of proven technologies Caterpillar’s solution will provide Stena Line the most fuel efficient ferries in the world and will set a new industry standard when it comes to operational performance, emissions and cost competitiveness, positioning Stena Line to support its customers in the next decades,” said Ulf Hannemann, cruise and ferry segment manager at Caterpillar Marine.
Subsea 7 to Invest in Xodus Group
Leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry Subsea 7 S.A. and Chiyoda Corporation announced that Subsea 7 has agreed to acquire a 60% holding in Xodus Group, a leading energy consultancy, from Chiyoda. Yokohama-based Chiyoda, which provides services in the fields of engineering, procurement and construction on a global basis for gas processing, will retain a 40% holding as a joint venture partner. This investment…
Gulf Navigation Holding FY Profit Falls
Dubai based tanker owner Gulf Navigation Holding PJSC reported its 2017 FY net profit fell to 40.7 million dirhams versus 136.6 million dirhams a year ago. The company's FY gross revenues rose to 137.9 million dirhams versus 129.5 million dirmahs for the year prior.
Dry Bulk, Container Markets Strengthened in 2017: Torvald Klaveness
The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness. Torvald Klaveness managed to improve its financial results in 2017, but they “were still not at a satisfactory level”, Torvald Klaveness said. Earnings before tax (EBT) for 2017 ended at a loss of USD -2 million. Torvald Klaveness maintained a high solidity and good liquidity in 2017. Stronger markets resulted in improved results for the container segment and the dry bulk segment compared to 2016.
India Takes Steps To Prevent Attacks On Vessels
Gulf of Aden (East Coast of Africa), Malacca Strait and West Coast of Africa are shipping routes which suffer incidents of pirate attacks. (i) Guidelines for anti-piracy measures issued through Merchant Shipping Notice No.1 of 2011 dated 14.1.2011 to be implemented by Indian Ships. The guidelines provide for elaborate anti-piracy measures (Best Management Practices), including safe house/citadel for vessels. (ii) Banning of sailing vessels to ply in waters south or west of the line adjoining Salalah and Male through Merchant Shipping Notice No. 3/2010 dated 31.3.2010.