Royston Expands UK Engineering Facilities
Royston Diesel Power has doubled the size of its UK engineering facilities to support continuing global growth in its marine engine service business and new technology development. As part of a £500,000 ($676,000) investment program the company has opened an additional 15,000 sq. ft. of engineering workshop premises alongside its existing headquarters on the banks of the River Tyne. As well as increasing the company’s engine repair and maintenance capability, the new center will also provide a focus for a range of other technical support functions.
Bahrein Shipyard Signs Maersk Ship-Repair Deal
Arab Shipbuilding and Repair Yard (ASRY) signs a long-term contract to repair Maersk vessels on preferential terms With 35 years experience in the shipbuilding and repair business, ASRY will repair Maersk ships operating in the Persian Gulf as required. In 2011 the yard repaired nine Maersk ships. Commenting on this agreement, Chief Executive Officer, of the ASRY Group Chris Potter, said: "I am very pleased to welcome Maersk company in the growing list of our customers."
Grand Bahama Shipyard Continues Relationship with PC Maritime Services
Grand Bahama Shipyard (GBS) informs its exclusive agency agreement in the Netherlands, Belgium and Luxemburg will continue, as PC Maritime Services’ new owner, Hilka Willms, takes the helm. Upon the retirement of Hans Stoop, his successor Willms will maintain the continuity of GBS representation in BeNeLux. Willms’ experience on both sides of the ship repair business started with a decade-long career at a ship repair yard in the Netherlands, followed by ship repair yard representation experience.
Leevac Acquires Quality Shipyards from Tidewater
LEEVAC Shipyards, LLC through its newly created subsidiary LEEVAC Shipyards Houma, LLC (LEEVAC) has completed the acquisition of substantially all assets of Quality Shipyards, Inc. (Quality) located at 3201 Earhart Street in Houma Louisiana from Tidewater Marine, LLC (NYSE: TDW). The acquisition of assets includes 35 acres of industrial property located on 2,500 feet of waterfront along the intracoastal waterway, 4 drydocks (the largest measuring 4,200 tons of capacity), 100,000 square feet of covered production facilities and several large track cranes.
Cosco to Grow Offshore and Shipbuilding Business
Cosco Corp. Singapore Ltd. aims to draw one third of its business each from ship repairs and conversion, new shipbuilding and offshore marine engineering services. The three key businesses contribute $481.2m or 91 percent of the company's $528.8m revenue during the January to March quarter, Energy Current reported. Of the total revenue from the three key business segments, 21 per cent comes from ship repairs contracts, half of its 42 per cent share last year. The smaller revenue share from ship repairs business is in line with Cosco's move to secure higher value contracts in new shipbuilding and offshore marine engineering services, Cosco Vice Chairman and President Ji Hai Sheng said during a press briefing in .
Wärtsilä Acquires Propeller Repair Business in the U.K.
Wärtsilä has acquired the UK-based propeller repair company McCall Propellers Ltd. The company's net sales are $12.7m with 33 employees. McCall Propellers is the largest marine propulsion support services company based in the U.K. specializing in emergency repair of propeller equipment. The acquired company has purpose-built repair facilities next to Glasgow Airport, and work is carried out either in the workshop or on site anywhere in the world.
VT Halter Marine’s Dry Dock Arrives in Pascagoula
VT Halter Marine Inc, a subsidiary of VT Systems Inc., announced the arrival of a 12,000 MT Floating Dry Dock transported by a heavy lift vessel from the Philippines. The dock dimensions are LOA- 546 FT x B 128.5 FT x D 46 FT. The dry dock is part of an overall expansion plan to the south yard in Pascagoula where VT Halter Marine is adding a repair facility for semi-submersible drilling rigs and Panamax-size ships. The addition of the Floating Dry Dock to VT Halter Marine will…
MSE Enters LNG Repair Business
In line with the changing business pattern in the ship repair industry and new business opportunities in the fast growing fleet of lng carriers around the world, Malaysia’s Malaysia Shipyard & Engineering (MSE) has entered the lng repair business. The yard has demonstrated its ability to innovate, reposition and transform itself to cater to this specialised niche market and shown its commitment by investing substantially to build up lng repair capabilities and facilities. As part of a drive to enhance capability and expertise in the repair of lng carriers, MSE has entered into a Technical Service Agreement on October 15th 2002 with Gaz Transport Technigaz (GTT).
Bharati Shipyard Plans JV
Bharati Shipyard reportedly plans to set up a modern shipbuilding yard along India's eastern coast in a 50:50 joint venture with Apeejay Shipping, according to a report on http://www.domain-b.com.The proposed shipyard, expected to start operations in 2009, would build ships and also be a ship repairing business. India's shipbuilding industry is expected to touch the $20 billion milestone by 2020. (Source: http://www.domain-b.com)
Plan Ended for New Port of L.A. Shipyard
According to a report from www.dailybreeze.com, a proposal to build a $50m ship building and repair business at the Port of Los Angeles was sunk Thursday by the Board of Harbor Commissioners. The commission terminated its exclusive negotiations with Long Beach-based Gambol Industries, which has heavily campaigned to open a shipyard on the site of the shuttered Southwest Marine slips at Terminal Island. (Source: www.dailybreeze.com)
Friede Goldman Halter sells vessel repair unit
Friede Goldman Halter Inc., which provides support for the offshore oil industry, announced it has agreed to sell its vessel repair unit to Bollinger Shipyards Inc. for $80 million. The all-cash deal with the Lockport, La.-based company, which is expected to be completed in July 2000, is structured as an asset sale and is subject to certain regulatory conditions. "We undertook to evaluate the strategic fit of each of our business lines," said J. L. Holloway, company chairman and CEO. "We determined that the vessel repair business did not fit our primary and long-term focus on large-scale offshore energy projects, highly complex commercial and government shipbuilding, and engineered products.
BAE Systems to Acquire Atlantic Marine
BAE Systems entered into a definitive agreement to acquire Atlantic Marine Holding Company (Atlantic Marine) from JFL-AMH Partners, LLC, a portfolio company of the private equity firm J.F. Lehman & Company for $352 million. Atlantic Marine is a privately held vessel maintenance, repair, overhaul and conversion (MROC), marine fabrication, and ship construction services provider with operations at Mayport and Jacksonville, Florida; Moss Point, Mississippi; and Mobile, Alabama. The acquisition does not include Atlantic Marine's Boston and Philadelphia operations, which will be retained by JFL-AMH Partners, LLC. The acquisition will be funded from BAE Systems' existing cash resources.
BAE Names Clifford as President of Ship Repair Business
BAE Systems has appointed Bill Clifford as president of its Ship Repair business, effective April 1, 2008. Clifford will succeed Al Krekich, who will retire March 31, 2008, after serving as Ship Repair’s president for the past 10 years. As president, Clifford will lead the operation and grow the business, which provides ship maintenance and modernization services to U.S. Navy, government and commercial customers from shipyards in Norfolk, San Diego, San Francisco and Hawaii. Ship Repair also includes the Maritime Engineering & Services business area, headquartered in San Diego. Clifford has been with the company since 2004, when he served as president and general manager of Hawaii Shipyards, Inc., a United Defense Industries (UDI), Inc. company.
Merger Creates UK's Largest Independent Ship Repairer
Burgess Marine acquire Testbank Ship Repair, making them the country's largest independent in the ship repair business. Burgess Marine, headquartered in Dover and with sites in Poole and Portsmouth’s naval base, has acquired Testbank Ship Repair, with locations at Southampton docks, Portchester, near Portsmouth, and Avonmouth, near Bristol. The deal will see 120 full-time staff work under the Burgess Marine banner from the six sites, with a combined annual turnover of £20m-plus. Nick Warren, Managing Director, Burgess Marine, said: “The various work streams of both companies very much complement each other, so it made compelling business…
Wartsila India Signs Pact with CSL
Wartsila India, the Indian arm of Finland-based Wartsila Corporation, has signed a Memorandum of Understanding (MoU) with Cochin Shipyard Ltd (CSL) for setting up a containerised self-sufficient workshop. As per the MOU, Wartsila plans to locate a containerised self-sufficient workshop within the premises of CSL to cater primarily to propeller blade metallurgical repairs and engine component repairs. Wartsila also plans to support CSL with comprehensive engine services, propulsion services and electrical and automation services based on the requirements, said a press release.
Wärtsilä Acquires Propeller Repair Business
Wärtsilä has signed an agreement to acquire the entire business of the South African company Marine Propeller (Pty) Ltd in Cape Town, South Africa. Marine Propeller (Pty) Ltd is privately-owned and focuses mainly on repairing propellers. A minor part of the business is casting small propellers. This acquisition will expand Wärtsilä's offering in South Africa to include propeller repair. The knowledge, good reputation and customers that Marine Propeller will bring provides a good basis for this. Along with an increase in the marine and power plants businesses, Wärtsilä is looking for further expansion and a broadened services offering in southern Africa.
J.F. Lehman & Company Completes Sale of Atlantic Marine
J.F. Lehman & Company completed the sale of Atlantic Marine Holding Company to a subsidiary of BAE Systems, Inc. Atlantic Marine is a provider of vessel maintenance, repair, overhaul and conversion (“MROC”) as well as marine fabrication services to government and commercial maritime customers. The company has operations in Mobile, AL, Jacksonville and Mayport, FL and Moss Point, MS. JFL has retained the company’s MROC operations in Boston, MA and Philadelphia, PA and a parcel of real estate in Mobile. The sale price was approximately $352 million, subject to customary post-closing adjustments. An investment affiliate of JFL acquired the business in August 2006. Tig H. J.P.
Welch New CEO of Drydocks World
Dry Docks World announced that Denis Welch has been appointed CEO of Drydocks World South East Asia and will be based in their Singapore Office. Following the recent acquisition of two significant ship repair, shipbuilding and rig building companies, based in Singapore and Batam, Mr. Welch will oversee the expansion of Drydocks World operations in the region. The South East Asian group now encompasses the ex-Pan United Maritime ship repair and ship building facilities in Singapore and Indonesia, and also the Ex-Labroy ship building and rig building yards in Batam. Work is also underway on Batam Maritime Centre, a large repair and ship building facility, which will be established on a 175 hectare plot on the island of Batam.
Singapore Offshore Company's Executive Appointment
Jaya Holdings appoints George Horsington as the company’s first President for Business Development. Jaya Holdings is a leading Offshore Energy Services Group, headquartered in Singapore. The Jaya Group provides a wide range of services and solutions to the offshore oil and gas E&P domain. Mr Horsington, 38, is set to join Jaya on September 6, 2012 after more than 10 years in various senior management positions with Swire Pacific Offshore Operations. The new position is an executive…
Wärtsilä acquires Swedish Ship Repair Business
Wärtsilä has signed an agreement to acquire the entire business of the Swedish company Stockholms Fartygsreparationer AB. The agreement is worth 7.5 million Swedish krona (EUR 0.8 million). Stockholms Fartygsreparationer handles all types of ship repair on the eastern coast of Sweden and in 2005 had net sales of 8 million Swedish krona (EUR 0.9 million). The business will now be handled by Wärtsilä Sweden AB. Stockholms Fartygsreparationer's personnel of 10 persons will become Wärtsilä employees. This acquisition is a base for further expansion along the Swedish east coast and a part of Wärtsilä's strategy to expand the business operations of the Wärtsilä Services.
Wärtsilä Acquires Swedish Ship Repair Business
Wärtsilä has signed an agreement to acquire the entire business of the Swedish company Stockholms Fartygsreparationer AB. The agreement $1m ($.8 million Euros). Stockholms Fartygsreparationer handles all types of ship repair on the eastern coast of Sweden and in 2005 had net sales of $1.1m (0.9 million Euros). The business will now be handled by Wärtsilä Sweden AB. Stockholms Fartygsreparationer's personnel of 10 persons will become Wärtsilä employees. This acquisition is a base for further expansion along the Swedish east coast and a part of Wärtsilä's strategy to expand the business operations of the Wärtsilä Services.
Five Minutes with Bill Clifford, President, BAE Systems Ship Repair
How did you come to your current position? Clifford I currently serve as the president of BAE Systems Ship Repair and have been in this position since 2008. In this role, I lead our six full service shipyards and our 5,000 highly skilled employees. Prior to assuming my current role, I was the vice president and general manager of BAE Systems Norfolk Ship Repair. Before joining BAE Systems, I spent more than 20 years in the private sector serving in senior management positions at several shipyards.
Mobile's Maritime Renaissance
Timing, they say, is everything. Cliché, for sure, but BAE System’s strategic decision a few years ago to buy, invest and reinvigorate newbuild and repair operations in Mobile, Alabama, seems poised to pay off handsomely as the U.S. maritime market faces a historic rebound. As the energy profile of the United States changes, so too do the prospects for it commercial shipbuilding and repair sector, which virtually overnight has enjoyed an influx of new construction orders and general maritime business.