FMD Acquires AMMCON
Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has acquired AMMCON Corp., a Jacksonville- based fittings and assembled components manufacturer. The defense contractorâs acquisition continues its expansion and commitment to providing critical components to the U.S. Navy and other marine defense customers.âFairbanks Morse Defense is working to build fully integrated products and services that will meet every need of maritime defenseâŠ
Leadership Profile: Tor Svanes and NAVTOR's Quest to Transform Shipping
Compliance, performance, profitability, sustainability; take the biggest âpain pointsâ for almost any shipping company and watch NAVTORâs digital ecosystem work wonders. Here Tor Svanes, Founder and CEO, explains how NAVTOR has grown to lead the smart shipping world, why the recent merger with Voyager Worldwide was so critical, and how he hopes to help steer the industry towards brighter, simpler, and more intelligent horizons.âThe morning of the announcement I got a text from the boss of one of our biggest competitorsâŠ
Amogy, W-Industries Enter Tech & Engineering Partnership
Ammonia-to-power solutions provider Amogy announced it has signed a Memorandum of Understanding (MOU) with W-Industries, a provider of engineering, technology, manufacturing, construction and services, to explore opportunities for technology and engineering collaboration.Tailored for industries such as maritime shipping and power generation, Amogyâs ammonia-to-electrical power system splits, or âcracks,â liquid ammonia into its base elements of hydrogen and nitrogen, and then funnels the hydrogen into a fuel cell for clean power generation.TogetherâŠ
RightShip Launches New Initiative to Support Adoption of Zero-Harm Maritime Tech
RightShip, an ESG-focused digital maritime platform, has launched Zero Harm Innovation Partners program aimed at supporting the development and adoption of technologies dedicated to achieving a zero-harm maritime industry.According to RightShip, zero-harm maritime industry can be achieved by enabling enhanced collaboration and connection between shipowners and managers, and innovative technology providers.The program invites technology providers and innovators to showcase products on RightShipâs platform that contribute towards enabling a zero-harm maritime industry.Besides tractionâŠ
Ten Organizations Team Up on Guidelines for Combating Illegal Wildlife Trafficking
Ten organizations have joined forces to combat illegal wildlife trafficking through increasing awareness and vigilance across global supply chains.Together, they have produced practical guidelines for all supply chain participants, with advice on measures to take, questions to ask to help identify criminal wildlife trade, and guidance on reporting suspicious activities. An accompanying "Red Flags" document serves as a daily reference for all individuals involved in the supply chain.
Green Ships ePSV to Feature Amogyâs Ammonia-to-power System
Green Ships Invest has signed a contract to purchase of Amogyâs carbon-free ammonia-to-electrical power systems for a fleet of new environmentally friendly platform supply vessels (PSV). Green Ships, which is designing/procuring so-called ePSVs (electrical PSVs), had signed a memorandum of understanding (MOU) with Amogy in October 2023.Under the newly signed contract, Green Ships Invest will design the ePSV to be equipped with 2 megawatts (MW) of clean energy capacity through the integration of ten of Amogyâs pioneering 200 kilowatt (kW) ammonia-to-electrical power systems.
SFL Acquires LR2 Product Tanker Trio
Shipowner SFL Corporation on Wednesday announced it has agreed to acquire three new LR2 product tankers in combination with long term time charters to an energy and commodities company.The vessels are currently under construction in China, with the latest eco-design features, SFL said, noting the sellers are affiliates of the companyâs largest shareholder Hemen Holding Ltd.SFL said it will acquire the three ships for an aggregate purchase price of approximately $230 million, inâŠ
Siemens and NVIDIA to Build Industrial Metaverse
Siemens is bringing immersive visualization powered by new NVIDIA Omniverse Cloud APIs to the Siemens Xcelerator platform, driving increased use of AI-driven digital twin technology and creating an industrial metaverse.âWe will revolutionize how products and experiences are designed, manufactured and serviced. On the path to the industrial metaverse, this next generation of industrial software enables customers to experience products as they would in the real world: in contextâŠ
Brunvoll Inks DP2 Upgrades Deal for More Møkster Vessels
Maritime systems supplier Brunvoll has signed a contract with Simon Møkster Shipping to deliver upgrades for Stril Mermaid and Stril Mariner vessels.In addition to replacing the existing DP2 systems for the two vessels, Brunvoll will also replace the current propulsion and thruster control systems, as well as the independent joystick system.The systems will be replaced with Brunvoll's BruCon DP2, BruCon PTC (Propulsion & Thruster Control), and BruCon JS.This will ensure even betterâŠ
Ship Evacuated After First Civilian Fatalities in Houthis' Red Sea Attacks
India's navy evacuated all 20 crew from a stricken vessel in the Red Sea on Thursday, after a Houthi attack killed three seafarers in the first civilian fatalities from the Yemeni group's campaign against the key shipping route.The Iran-aligned militants fired a missile at the Barbados-flagged, Greek-operated True Confidence on Wednesday about 50 nautical miles off the southern Yemeni port of Aden, setting it ablaze.In a statement, the owners and manager said all 20 crew and threeâŠ
Harvey Gulf Upgrading Liquid Mud Tanks on Five OSVs
Offshore vessel owner Harvey Gulf International Marine announced it is modifying its fleet of five dual fuel liquefied natural gas (LNG)/diesel electric powered offshore supply vessels (OSV).A key enhancement includes the segregation of Liquid Mud tanks into six isolated independent tank systems, each equipped with dedicated pumping, valve, loading, and discharging systems with zero chance of cross contamination.The first vessel to undergo these modifications, the 310â DP2 Harvey LibertyâŠ
ClassNK Grants Innovation Endorsement for Cassandra Monitoring Platform
Classification society ClassNK announced it has granted an Innovation Endorsement for Products & Solutions to a vessel and voyage performance monitoring platform called Cassandra, developed by Deep Sea Technologies SMPC.Cassandra integrates performance data from vessels with AI technology, and then enables real-time monitoring of the shipâs current status. It is cloud-based and designed to monitor fuel consumption, CO2 emissions, as well as hull and engine performance from shore.ClassNK has verified the functions of Cassandra.CO2 emissions monitoringâŠ
Twin Disc Inks Deal to Acquire Katsa for $23 Million
U.S. based power transmission equipment manufacturer Twin Disc announced it has entered into a definitive agreement to acquire Katsa, a Finnish-headquartered manufacturer of power transmission components and gearboxes for industrial and marine markets, in an all-cash transaction valued at âŹ21 million (approximately $23 million).The transaction is expected to close in the first half of calendar year 2024, subject to customary closing conditions, including regulatory approval, TwinâŠ
ClassNK Grants Innovation Endorsement for âACE Functionâ
ClassNK has granted its Innovation Endorsement for Products & Solutions to a straight leg course control called âACE Functionâ (ACE: Advanced Control for Ecology), which can be integrated with the autopilot systems, âPR-9000â and âPR-6000â offered by Tokyo Keiki Inc.âACE Functionâ can automatically create a straight route and implement navigation at the shortest distance, only by setting the ship's current position and the heading of a destination. While navigating, it constantly estimates disturbances (tidal currentsâŠ
Turkish Oil Terminal Halts Russian Oil Business
One of Turkey's mid-sized Mediterranean oil terminals - the Dortyol terminal - will no longer accept Russian imports after receiving record volumes last year, amid an increase in sanctions pressure by the United States.Turkey has become one of the biggest importers of Russian crude and fuel since 2022, after the West imposed sanctions on Moscow for the invasion of Ukraine. Russia responded by re-routing oil away from Europe and the U.S. to Asia, Turkey and Africa.Global Terminal Services' (GTS)âŠ
Port of Long Beach Opens New Fireboat Stations
Officials dedicated two new Port of Long Beach fireboat stations that are enhancing the Long Beach Fire Departmentâs waterside and landside emergency response capabilities, better safeguarding visiting ships, cargo and waterfront workers.The facilities â Fireboat Station 15 and Fireboat Station 20 â are the products of a $109 million Port of Long Beach program to preserve business continuity, security and economic interests. With an anticipated lifespan of 50 years, both stationsâŠ
Iridium Acquires Satelles
Iridium Communications has entered into an agreement to acquire Satelles, Inc., a leader in secure satellite-based time and location services that complement and protect GPS and other GNSS-reliant systems. The service, named Satellite Time and Location (STL), is designed as an easy-to-adopt, secure solution that increases the efficiency and reliability of timing systems for digital infrastructure like 5G base stations, data centers, and other critical infrastructure and protectsâŠ
Odfjell Completes Terminal Expansion in Houston
Odfjell Terminals US (OTUS) reports it has completed the construction and commissioning of its Bay 13 at the Houston Terminal (OTH), adding nine new tanks, with a combined capacity of 204,000 barrels. The new tanks are a combination of stainless steel and carbon steel, and each tank has been engineered with positive pressure systems and full automation, Odfjell said. The newly commissioned bay is specifically designed for the storage needs of specialty chemical products, the company added."As we continue to invest in our assetsâŠ
MAN Energy Solutions Opens Service Hub in Singapore
MAN Energy Solutions has opened its largest service hub outside of Europe, located in Tuas, Singapore.The EUR 20 million (S$30 million) investment will include a new MAN PrimeServ training academy for customers and employees, a logistics center to serve as the warehouse for Asia, and a PrimeServ workshop to provide maintenance and repair services, including for MAN Energy Solutionsâ alternative-fuel engines.The facility has over 9,000 square metres of floor space, and MAN expectsâŠ
US Gulf Coast Fuel Oil Imports Hit Five-year Low
Imports of fuel oil bound for the U.S. Gulf Coast fell to a five-year low last month as refiners ran more cheap, heavy Canadian crude and geopolitical tensions in the Middle East pressured fuel oil flows.Fuel oil deliveries to the Gulf Coast dwindled in February to just 318,000 barrels per day (bpd), a 20% drop from the prior month and marking their lowest level since February 2019, data from tanker tracking firm, Kpler showed.Heavy fuel oil feedstocks like high sulfur fuel oilâŠ
Ukraine Expands Ship War Insurance with Marsh & Lloyd's to Iron Ore, Steel
Insurance broker Marsh and Lloyd's of London underwriters have expanded a marine war insurance program backed by Ukraine from grain shipments to all non-military cargo, such as iron ore and steel, Marsh said on Friday.Marsh, Lloyd's and Ukrainian state banks launched an initial program in November to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, following Russia's invasion of Ukraine two years ago."Expanding insurance to cover ships carrying all non-military cargo is extremely important for UkraineâŠ
KOTUG Takes Full Ownership of Its Bahamas Towage JV with SEACOR
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 Partnersâ Bahamas HubâŠ
Barge Fuel Exports Help Russia Negotiate Tanker Shortage
Russia exported more than 700,000 metric tons of oil products from the Black Sea port of Novorossiisk in 2023 using small river barges because of a lack of bigger tankers owing to EU sanctions and price cap limitations, market sources said and LSEG data showed.Some ship owners have avoided Russian ports since the EU embargo and price cap on Russian refined oil products went into effect in February last year, forcing shippers to turn to a so-called shadow fleet of ageing tankers.The shadow fleet has supported the flow of Russian barrelsâŠ