R Holdings News

The Coastal Sustainability Alliance (CSA), an industry collaborative effort led by Kuok Maritime Group (KMG), has announced the start of construction of its first fully electric PXO-series tug (e-tug) and supply boat (e-supply boat) by PaxOcean Group.The zero-emissions vessels are among the first and largest local electric harbour craft designed for operation in Singapore’s coastal waters. They are targeted for deployment in 2025, ahead of the nation’s goal for all new coastal…

Fincantieri has received a highly significant order from Norwegian Cruise Line Holdings for the construction of four new next-generation cruise ships.The order entails the construction of two cruise ships for the Regent Seven Seas Cruises and two for the Oceania Cruises brands respectively.The ships designated for Regent Seven Seas Cruises, scheduled for delivery in 2026 and 2029, will boast a gross tonnage of 77,000 tons and accommodate approximately 850 passengers.Meanwhile…

Libra Group subsidiary Seapath has launched a Jones Act leasing business offering maritime leasing and financing solutions and a growing portfolio of vessels valued at approximately $25 million.The group said it sees significant unmet demand for the supply of Jones Act compliant transport assets.Joshua Lubarsky, president of Seapath, said, “Domestic maritime transportation is the backbone of the U.S. transportation system. By launching our new Jones Act leasing business, Seapath…

Singapore's Temasek Holdings has shortlisted energy giants Shell and Saudi Aramco among a handful of companies to purchase most of the assets of liquefied natural gas (LNG) trading firm Pavilion Energy, sources with knowledge of the matter said.The sale process comes a decade after the state investment firm set up Pavilion Energy to focus on LNG-related investments, and takes place as spot Asian LNG prices LNG-AS have fallen more than 40% since mid-August, potentially weighing on the deal's valuation.Temasek is evaluating bids for the sale of Pavilion Energy's assets…

KOTUG International, a marine services and towage provider based in the Netherlands, announced on Thursday it has concluded its acquisition of Kotug Seabulk Maritime (KSM), taking full ownership of the Caribbean marine towage business.KOTUG said it has acquired the interest of its joint venture partner, Fort Lauderdale, Fla.-based SEACOR Holdings via its Seabulk subsidiary KS Maritime Holdings, owner of the 50% share in KSM.Founded in 2017, KSM acts as the exclusive provider of maritime terminal support services for Buckeye Partners’ Bahamas Hub…

Mauritius will allow a ship belonging to Norwegian Cruise Line Holdings to dock after no trace of cholera was found in samples taken from passengers on board, a senior health official said on Monday.Authorities on the island nation off the coast of east Africa prevented the Norwegian Dawn from docking over the weekend over what they said were "health risks," without elaborating.Samples were taken from around 15 passengers who were experiencing a mild stomach illness.Bhooshun Ori…

DHT Holdings announced it has entered into agreements to build four very large crude carriers (VLCC) in South Korea for delivery between April and December 2026.Two of the large tankers will be constructed at Hyundai Samho Heavy Industries and the other two at Hanwha Ocean (formerly known as Daewoo Shipbuilding & Marine Engineering), for an average price of $128.5 million. The contracts include options for an additional four vessels that can be delivered during the first half of 2027.The vessels have been ordered to Super Eco-designs and have carrying capacity of about 320,000 metric tons.

Mauritius stopped a ship belonging to Norwegian Cruise Line Holdings from docking at its ports due to what it said was a health risk and took samples from about 15 passengers who were in isolation on board, its port authority said on Sunday.The Norwegian Dawn had been scheduled to dock in Port Louis on Sunday, but since it had not gone to Reunion Island, it arrived in Port Louis a day earlier, the Mauritius Ports Authority said in a statement."The decision not to allow the cruise ship access to the quay was taken in order to avoid any health risks…

Nippon Paint Marine appointed Gladys Goh as its President, effective immediately, making her the first female and foreign national to lead a principal operating company in Japan. The marine division is the founding business for the 140-year-old Nippon Paint Holdings Group, a leader and pioneer in marine paint and Goh Gladys joined Nippon Paint Malaysia in 2006, driving the brand to become Malaysia's top coatings provider and subsequently led expansion into new markets. She concurrently serves as Senior Vice-President…

Marine Towing of Tampa announced it is expanding its ship assist services to Florida's east coast following a deal with E.N. Bisso & Son to acquire towing assets formerly owned by SEACOR Holdings' Seabulk arm.In September 2023, SEACOR divested its U.S. harbor towing operations, selling to Bisso 12 tugs across ports in Florida and Alabama.Under a recently executed asset purchase agreement with Bisso, Marine Towing of Tampa acquired the Port Canaveral operations and assets from the SEACOR-Bisso deal and will operate them in Canaveral under a newly formed affiliate…

Nashville-based Ingram Barge Company announced it has formed a new material handling and supply chain solutions subsidiary, Ingram Infrastructure Group.The move, fueled by the company's acquisitions of Inland River Transport Holdings (SCF) and NexStar Solutions, is intended to enhance Ingram's end-to-end supply chain solutions capabilities.Ingram acquired integrated river transportation and logistics services provider SCF from SEACOR Holdings following the signing of a purchase agreement last October.Ingram currently operates across more than 4,500 miles of the U.S.

SEACOR Holdings Inc. announced it has concluded the sale of its Caribbean liner and logistics business SEACOR Container Lines LLC (“SEACOR Island Lines”) to King Ocean Services Ltd. The transaction includes all operations and assets.King Ocean specializes in marine transportation and logistics solutions to close to 50 destinations across the Caribbean and South and Central America out of their Port Everglades facilities in Ft Lauderdale, Fla.“For 40 years, King Ocean, a multi-generational…

Ocean Network Express (ONE) has launched the world’s first dual-temperature refrigerated container equipped with controlled atmosphere functionality in collaboration with Pan Pacific International Holdings (PPIH) and NAX Japan.It is the world's first use of marine transportation of the dual-temperature refrigerated container equipped with controlled atmosphere functions that will transport various types of perishable goods and fruits from Japan to overseas stores of Don Quijote…

Seattle-headquartered Saltchuk Holdings has renewed its bid to take over Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—OSG’s largest shareholder—had previously offered to acquire OSG in June 2021 but suspended those discussions several months later, citing pandemic-related market uncertainties.OSG, which operates U.S.-flag tankers and articulated tug barges (ATB), on Monday confirmed its board of directors…

Norwegian Cruise Line Holdings (NCLH) has signed a partnership agreement with ABB to accelerate the decarbonization and digitalization of the Norwegian Cruise Line fleet.Targeting increased safety and efficiency, the agreement covers 14 existing ships and a further four vessels due for delivery from 2025 to 2028.The first phase of the partnership includes a 10-year Azipod propulsion service agreement for the fleet, providing efficient preventive maintenance to support safety and maximize vessel availability as well as fast turnaround for planned Azipod propulsion maintenance.In addition…

Houston based dredging and marine construction contractor Orion Group Holdings – Marine Group has become a member of trade group the Dredging Contractors of America (DCA).Orion has a near 100-year legacy and today ranks among market leaders in the provision of dredging services to keep waterways serviceable and to expand ports and other marine infrastructure throughout the United States, territories and Caribbean. The company works to create beneficial marsh habitats, dredging…

Damen Shipyards Group announced it has delivered a pair of Damen Combi Freighter 3850 vessels to Baltnautic Holding B.V.The newbuilds, Indigo and Violet, were built at Damen Yichang Shipyard in Shanghai, China. A third Combi Freighter for Baltnautic Holding B.V. is currently under construction at the same yard and is set to be delivered in November this year.The vessels are the first new builds in the history of Baltnautic Holding B.V. and will be deployed for operations in Europe.

China has called for an end to attacks on civilian vessels in the Red Sea that have dramatically widened the Hamas-Israel conflict and placed Beijing's commercial interests along the Suez Canal at risk.The Iran-backed Houthi militia from Yemen that seeks "Death to Israel" is challenging the ability of the world's biggest trading nation to defend billions in strategic investments in Egypt.Since President Abdel-Fattah el-Sisi came to power in 2014, China has stepped up its investment and commercial activities along Egypt's Suez Canal…

Yanmar Power Technology Co., Ltd. (YPT), a subsidiary of Yanmar Holdings Co., Ltd., has embarked on the development of a hydrogen-fueled four-stroke high-speed engine for power generation for coastal vessels in Japan as part of the Nippon Foundation’s zero emission ship demonstration experiment. The engine utilizes hydrogen as a fuel, emitting no CO2 during combustion.In parallel with the hydrogen engine development, YPT will also work on the creation of a hydrogen engine-compatible hybrid electric propulsion vessel, combining hydrogen engine generators with batteries.

Harim Holdings on Tuesday said it has been chosen as the preferred bidder to buy control of South Korea's biggest container shipping company HMM in what people with knowledge of the matter said was a 6.4 trillion won ($4.92 billion) deal.Harim and HMM creditors Korea Development Bank and Korea Ocean Business will negotiate a final deal by the first half of 2024 for 58% of the shipper, said the people, declining to be identified as they were not authorised to discuss terms.Harim entered bidding via a consortium led by its bulk shipping unit Pan Ocean.

Integrated Wind Solutions (IWS) announced its IWS Fleet subsidiary has taken delivery of the new commissioning service operations vessel (CSOV) IWS Skywalker from shipbuilder China Merchants Industry Holdings Co., Ltd. (CMI).After transit to Europe, the vessel will commence the first out of three charter contracts at the world's largest offshore wind farm—Dogger Bank, in the U.S.—in the first quarter of 2024.The purpose-built IWS Skywalker is the first of a series of six identical sister vessels, with the remaining five vessels scheduled for delivery in 2024 and 2025.

NYK, JERA Co., Inc. and Resonac Holdings Corporation signed an agreement to jointly study the supply of ammonia as fuel to ships.As part of the Green Innovation Fund Project of the New Energy and Industrial Technology Development Organization (NEDO), NYK is conducting research and development of a tugboat equipped with a domestic ammonia-fueled engine (A-Tug) together with other partner companies. As part of this initiative, in conjunction with the completion of the A-Tug scheduled for next June…

Singaporean shipbuilding group Seatrium announced it has appointed Adrian Teng as Chief Financial Officer (CFO), effective January 1, 2024.Teng brings over two decades of diverse international experience in strategy, finance, restructuring, operations and corporate management across developed and emerging markets. Prior to his current appointment, Teng was Group Chief Financial Officer and Chief Operating Officer of Clifford Capital Holdings, with responsibilities in finance, treasury…