Portfolio Management News

The U.S. Navy and GSA have awarded Gecko Robotics a five-year IDIQ contract with a $71 million ceiling to deploy artificial intelligence and robotics to assess and maintain the health of military assets. Gecko will start work with 18 ships in the U.S. Pacific Fleet with the initial award worth up to $54m over a five-year period. Customers in all services will have access to this government-wide vehicle.The Chief of Naval Operations has set a target of 80% fleet readiness, which Gecko will have a crucial role in helping to meet.

Burger Boat Company announced the passing of longtime Burger Naval Architect Don O’Keeffe, whose influence on the company’s engineering excellence and yacht design legacy spanned decades. O’Keefe passed away at his home in Manitowoc, Wisconsin this week at the age of 90.O’Keeffe was widely respected for his exceptional technical expertise, quiet leadership, and unwavering commitment to sound naval architecture. His work helped shape many of Burger’s most enduring and admired yachts…

The American Club has reported positive developments for the 2026 renewal across all lines of business. Gross tonnage for the Club’s Class I (mutual P&I) entries increased modestly at the turn of the renewal at Noon GMT 20 February 2026, while the tonnage position since the 2025 renewal has increased by 5% and over the same period, Class I premiums have grown by 6%. The Club’s Class II (mutual FD&D) and Class III (charterers’ liability) portfolio were renewed for 2026 on a similar basis.Eagle Ocean Marine…

Burger Boat Company announced the promotion of Ron Cleveringa to Senior Vice President - Product Portfolio Management, reporting to Rich Thompson, Chief Sales & Marketing Officer.In this newly defined role, Cleveringa will lead the development of Burger’s product development and design DNA across the company’s four business segments: custom yachts, commercial vessels, repair & refit, and military applications. He will be responsible for defining how Burger’s craftsmanship and innovation translates into each product line…

Bulk shipping companies Torvald Klaveness and Lauritzen Bulkers are collaborating, with Lauritzen Bulkers testing Market Manager by Klaveness for better decision-making.The software-as-a-service (SaaS) platform developed by Klaveness Chartering enables customers to be better informed about shipping markets.Niels Josefsen, CEO at Lauritzen, said: “Over the past four years, Lauritzen Bulkers has transformed from a traditional shipowner and operator to a company with increasing focus on active portfolio management.

Danish shipping giant A.P. Moller - Maersk announced it is partnering with U.S.-based SunGas Renewables to secure a supply of green methanol to fuel its next generation of cleaner burning containerships.Under a recently signed letter of intent (LOI), SunGas Renewables, a spin-out of GTI Energy, will produce green methanol from multiple facilities that it will develop in the U.S. from which Maersk intends to offtake methanol. Slated to begin operations in 2026, the first facility is expected to produce approximately 390…

ABB announced its intention to spin off Accelleron (formerly ABB Turbocharging) turbocharging division, by way of a dividend in kind of Accelleron Industries Ltd’s shares to ABB’s shareholders. Accelleron’s listing on SIX Swiss Exchange in Zurich is planned for October 3, 2022, and is subject to, among others, approval by ABB’s shareholders at an Extraordinary General Meeting scheduled for September 7, 2022.“After careful consideration involving a dual-track process, we have concluded that spinning off Accelleron is the best way forward – for Accelleron itself and for ABB’s shareholders…

ABB on Tuesday announced that its Turbocharging division (PA) will go under the new brand name Accelleron, a compound word of: Access – Accelerate – Excel – on and on.ABB said the new brand is part of its portfolio management strategy to operationally separate the Turbocharging division before a final decision is made between a sale or a spin-off of the business toward the end of the first quarter. Whichever path is chosen by ABB to separate the business, this process should be completed in the first half of 2022.“Unveiling the Accelleron brand is a seminal moment for our business.

The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping on Tuesday announced its management team. to join CEO Bo Cerup-Simonsen in building an organization capable of facilitating the transition to a carbon free global shipping industry.Made possible by a DKK 400 million ($63.5 million) donation by the A.P. Møller Foundation, the Center was formed in June by a group of global shipping entities committing themselves to decarbonizing the maritime industry. The Center, which recently revealed its Board of Directors and a location at the heart of the Danish Shipping cluster in Copenhagen…

ONE SEA has appointed Capt Eero Lehtovaara as its new Chairman. Lehtovaara, a Master Mariner and Associate Fellow of the Nautical Institute, is Head of Regulatory & Public Affairs at ABB Marine & Ports.He brings a wealth of experience to the expanding ONE SEA alliance where he has been a Board member for two years, as well as Vice Chairman. His past experience at sea provides a unique understanding of the challenges set by new regulations, human resource management and technological developments…

The offshore supply vessel (OSV) industry has emerged from its 2017 trough, thanks in large part to a slight shrinkage of the active fleet, a string of debt restructurings, improved cost management, and an uptick in drilling activity in a few regions. The industry is far from healthy, though, and the climb back to financial well-being will likely be long and unsteady. Not every operator will survive. And even though we’ve seen some improvement from 2017 levels, leverage ratios remain sky-high, the supply of vessels far outstrips demand, and—most crucially—the price of oil remains volatile.

The subsea services provider to the oil and gas industry Rever Offshore, has announced the appointment of Bob Bryce to the newly-created role of Operations Director.The provider of fully integrated subsea construction and offshore management services said in a press release that  Bryce’s 40-year career in the oil and gas industry has seen him hold senior leadership positions on a global basis with key subsea-surf contractors, including McDermott, Subsea7 and Technip.He joins Rever’s executive team with a remit to oversee the operations, assets & services and QHSE functions. He does so as the company announces a board re-structure and will sit alongside fellow-executive team members…

Bermuda-based owner and operator of dry bulk vessels GoodBulk entered into an agreement to sell the M/V Aquapride, a 2012 built Supramax vessel of 61,465 dwt built by Imabari, JPN at $20.0 million to Suisse Bulkers, an unrelated party.The vessel is expected to be delivered to its new owner between September and November 2018. The M/V Aquapride was acquired by GoodBulk, for a total consideration of $17.0 million and is expected to contribute net profit of approximately $2.3 million between being delivered into the Company’s fleet on 1 June 2017 and assuming delivery to the vessel’s new owners on 30 September 2018, resulting in a levered IRR of 51.0%.Separately…

APM Terminals announced the sale of its 5% share in Terminal de Contêineres de Paranaguá (TCP) to China Merchants Port Holdings. The share sale was initiated and led by Advent, who is the controlling shareholder of TCP. Price and terms were not disclosed and the share sale is subject to the normal reviews and condition precedents. In March 2016, APM Terminals had acquired the 5% share in TCP as part of the Grup Maritim TCB acquisition. In Brazil, APM Terminals maintains a strong port and landside offering to supply chains with ports in Itajai, Pecem and Santos that are integrated with inland services in Itajaí, Itapúa and Paranagua.

ABB has launched Stage 3 of its so-called “Next Level” strategy which aims to drive company-wide growth via four entrepreneurial divisions, while realizing the group’s full digital potential and improving operational efficiencies. “Over the last two years, ABB has become faster, leaner and more efficient. We have continuously improved margins and further strengthened our cash generation,” said ABB CEO Ulrich Spiesshofer. Effective January 1, 2017, ABB will shape its divisional structure into four divisions: Electrification Products…

NORD/LB Norddeutsche Landesbank and KKR Credit have reached an agreement by which, subject to completion of certain conditions precedents, KKR Credit, together with a sovereign wealth fund (the “Investors”), will acquire a portfolio of performing and non-performing shipping loans originated by NORD/LB. The initial portfolio with a total volume of about USD 1.5 billion will include up to 100 ships and would form the seed mandate for a shipping portfolio management company that the Investors will create simultaneously with the closing of this sale. This company is designed to be open for use by third party banks for their portfolio management.

German state-owned lender NordLB and KKR Credit said they had reached an agreement by which KKR Credit will acquire a $1.5 billion portfolio of shipping loans from NordLB jointly with an unspecified sovereign wealth fund. The portfolio of performing and non-performing loans will include up to 100 ships and will form the seed mandate for a portfolio management company that the buyers plan to set up. NordLB is one of several German banks seeking to cut its ship loan exposure as the container and dry bulk shipping industries struggle with their worst downturn due to a glut of ships, a faltering global economy and weaker consumer demand.

France’s CMA CGM now holds over 78 percent of the shares in Neptune Orient Lines (NOL), bringing it closer to taking the Singapore company private. CMA CGM currently owns approximately 78.07% of all NOL shares, and does not intend to preserve the listing status of NOL. Further to the Offer Implementation Agreement, this change in control results in a change in the composition of NOL's Board of Directors. Consequently, a reconstituted Board of Directors, comprising ten members, has been appointed with effect from 9 June. The members of the reconstituted Board of Directors are Mr. Rodolphe Saadé (Chairman), Nicolas Sartini, Lars Kastrup, Serge Corbel, Ziad Tabet, Mrs. Mathilde Lemoine, Ng Yat Chung, Kwa Chong Seng, Quek See Tiat and Tan Puay Chiang.

A consortium led by Fiera Axium Infrastructure Inc. The consortium includes Desjardins Group, via its insurance subsidiaries and its pension plan, Manulife, Fonds de solidarité FTQ and Industrial Alliance. Fiera Axium, an independent portfolio management firm focused on infrastructure investments in Canada and the United States, joined co-operative Desjardins Group, financial services provider Manulife, labour fund Fonds de solidarité FTQ and Industrial Alliance to buy the facility, known as Montreal Gateway Terminals. “Montreal Gateway Terminals represents an essential infrastructure asset” so fits with Fiera Axium’s investment strategy, Stéphane Mailhot, president of Fiera Axium, said in a statement.

APM Terminals’ increased invested capital to USD $6.2 billion in 2015 as ongoing strategic plans to drive portfolio growth, improve productivity and safety performance, generated USD $4.2 billion in revenue, and a profit for the year of USD $654 million. Portfolio throughput weighted by equity share was 36 million TEUs for 2015, and when not including the divestment or exit of operations in Houston, Jacksonville, and Charleston, USA and a share in the Med-Center Terminal in Gioia Tauro, Italy, volume declined 1.1% from the year prior, while the overall global container market grew by 1.3%. Lower oil prices in 2015 affected APM Terminals bottom line, as reduced oil revenue resulted in declines in import cargo into oil producing countries in West Africa, Russia and Brazil.

The HCI Group and two other investors have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1,800 TEU, with an average age of nearly ten years. Deutsche Bank AG will be refinancing part of the portfolio. The parties have agreed not to disclose the purchase price for the vessels. In its role as general manager, the HCI Group has outsourced technical ship management to three providers within the north-German maritime cluster. Commercial ship management will be coordinated by the HCI Group and carried out by experienced partners.

The proposed cash acquisition of NOL at SGD 1.30 per NOL share, represents a 49% premium to NOL’s unaffected share price. Strategic acquisition resulting in combined turnover of USD 22 billion and fleet size of 563 vessels. CMA CGM, a global leader in container shipping, today announces a pre-conditional voluntary general cash offer for Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company (SGX: N03), subject to the satisfaction of the pre-conditions specified in such announcement. NOL’s majority shareholders (Temasek and its affiliates) have irrevocably undertaken to tender all of their shares in acceptance of the Offer.

Singapore sovereign wealth fund Temasek Holdings has agreed to sell its entire 67 percent stake in Neptune Orient Lines (NOL) to France’s CMA CGM, the world’s third-largest container shipper. CMA CGM will pay S$1.30 a share in cash for the 2.6 billion shares in NOL, 6 per cent above the last closing price on the Singapore Exchange, and a 33 per cent premium to the three-month volume-weighted average price to July 16. Temasek has accepted the offer. Tan Chong Lee, Head of Portfolio Management at Temasek said: “We are supportive of this transaction as it presents NOL with an opportunity to join a leading player with an extensive global presence and solid operational track record… Their complementary strengths will yield mutually bene-ficial results.