Rolls-Royce Secures Island Offshore Contract
Rolls-Royce has won a $11.3 million order to provide design, integrated power and propulsion systems and equipment for an offshore service vessel for Norwegian ship owner Island Offshore. The offshore service vessel will be built at VARD shipyard in Brevik, Norway and is due for delivery in January 2016. In March this year Island Offshore placed an order for two Rolls-Royce designed vessels, due for delivery in 2015 from the same shipyard. The latest Rolls-Royce designed offshore support vessel will encompass an integrated power and propulsion system incorporating main engines…
Rolls-Royce to Design & Power Buoy Tender for India
Rolls-Royce has secured an £8-million contract to design and power a highly specialised buoy tender vessel for India. The vessel will be built at the Cochin Shipyard Ltd. in India, and is due for delivery in 2015, to operate in remote waters off the east coast of India and around the Andaman & Nicobar Islands maintaining and replacing navigational aids and buoys. The buoy tender vessel is a Rolls-Royce UT 755 S, which is a development of the well proven UT 755 series, and designed to operate safely in the most challenging conditions.
Two Oil Production Ships For Sale
Shipping companies Aker Maritime and Bergesen will sell two oil production ships, the Berge Hugin and Navion Nunin, which they co-own with Norwegian energy giant Statoil. "We have agreed with the other owners to sell those production ships," said a spokesman for Aker Maritime. Aker Maritime is a 50/50 co-owner with Statoil of the topside processing equipment of both ships. No sale price was given. Statoil declined to comment. Navion Nunin is co-owned by Statoil and its tanker subsidiary Navion, in which it holds an 80 percent stake. It is on charter to Statoil until 2004, and is stationed at the Lufeng field in China. Berge Hugin is co-owned by Statoil and Norwegian tanker group Bergesen.
Rolls-Royce Delivers Design for Spanish Stern Trawler
Norwegian shipbuilding company Kleven has been awarded a contract for a fishing stern trawler ordered by the Spanish company Pesquera Ancora S.L.U. to be designed and equipped by Rolls-Royce. The vessel is of Rolls-Royce’s NVC 374 WP design and is scheduled to be delivered from Kleven’s Myklebust yard in the first quarter of 2018. This is the fourth contract for the same Rolls-Royce design to be built by Kleven. Kleven CEO Ståle Rasmussen said, “This contract confirms our high level competitiveness in a tough global maritime market.
Frank Koch, President and founder of DeFelsko Corporation (1934 - 2011)
Frank Koch, President and founder of DeFelsko Corporation died peacefully in hospital on August 8, 2011 at the age of 77 with his loved ones by his side. Born and raised in Germany, Frank was formally trained as a tool and die maker before emigrating in 1956. In the 1960’s, Frank’s entrepreneurial spirit led him to Ogdensburg, New York where he started several successful businesses including DeFelsko Corporation. It was his involvement with coating thickness and test instruments that most defined his career.
Hanjin-chartered Ships Sold, More on Block
Three bulk carriers sold charter-free at about market rates. Two Hanjin container ships also up for sale. Three ships chartered to Hanjin Shipping Co Ltd have been sold and two more vessels are up for sale, ship brokers said on Wednesday, kicking off an asset sale sparked by the failure of the world's seventh largest container shipper. Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms worried about not being paid refuse to work for Hanjin, which filed for receivership in a Seoul court on Aug 31.
TEN Sells, Leaseback Two Suezmax Tankers
Greece-based Tsakos Energy Navigation (TEN) has announced that it has sold for $65.2 million gross, through a five-year sale and leaseback transaction, the 2005-built Suezmax tankers Eurochampion 2004 and Euronike. The sale proceeds have been used to reduce debt and add $16.0 million of cash to TEN’s balance sheet. The vessels were delivered to their new owners in late December 2017. “Following the 15-vessel renewal program that was completed last quarter, the sale and purchase of vessels remains an integral part of TEN’s strategy to maintain its owned fleet modernity and enhance liquidity…
FSL Trust Sells Vessel to Trim Debt
FSL Trust Management, as trusteemanager of First Ship Lease Trust (FSL Trust), announces that the Trust has sold its chemical tanker, FSL Tokyo, for a cash consideration of US$13.8 million. FSL Tokyo is a 2006, Japanese-built, 20,938 DWT chemical tanker that has been deployed in the spot market. The net proceeds from this Disposal will be applied in full to the outstanding loan facility in 1Q2018. FSL Trust will record a related impairment charge of approximately US$9.0 million in 4Q2017.
Keppel Explores Sale of Jack-up Rigs to Borr Drilling
Singapore yard Keppel Corporation is considering a sale of jack-up rigs to Norwegian offshore drilling contractor Borr Drilling, reports The Business Times. The world’s biggest builder of oil rigs is seeking to offload six jack-up rigs for up to US$960 million to the Oslo-listed drilling firm headed by Tor Olav Trøim, said the report. BT also reported that Keppel Capital has already hooked up with structured finance provider Clifford Capital to potentially extend a sale-and-lease-back arrangement for at least one jack-up contracted by Grupo R.
Rolls-Royce Shares Jump as Commercial Marine Unit Sale Mulled
Britain's Rolls-Royce said on Wednesday it was considering the sale of its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as part of a restructuring of the company into three core units. Shares in the company jumped after it said the loss-making unit could be sold. They were trading up 7.2 percent at 1330 GMT. The announcement came as part of a restructuring of the aero-engine maker into civil aerospace, defence and power systems units, with naval marine and nuclear submarines consolidated into defence and civil nuclear into power systems.
EU Opens Investigation into Tax Incentives for Polish Shipyards
The European Commission on Monday opened an investigation into tax incentives for shipyards in Poland, saying it had concerns the scheme would give an unfair advantage to companies. Under the Polish scheme, shipmakers can pay a flat-rate tax on sales from the building and conversion of ships. The Commission said such a measure could be seen as “operating aid”, which is illegal under EU rules. “The Commission will now investigate further to determine whether its initial concerns are confirmed,” the EU’s competition watchdog said in a statement.
Book Review: Ship Knowledge A Modern Encyclopedia
by K. Bound hard back & front, 341 pages Published in 2003 by Dokmar, P.O. Box 360, 1600 AJ, Enkhuizen, The Netherlands. The book "Ship Knowledge - A Modern Encyclopedia" is basically the adapted and extended English language version of the very successful Dutch book "Scheepskennis" (published in 2001, author Klaas van Dokkum). In a state-of-the-art lay-out the book's 16 chapters lead the reader in great detail through the multitude of facts related to ships, ship building and shipping. The parts and systems together forming a modern ship from design drafts up to the finished construction including paint systems and legal aspects, are extensively dealt with.
Norway SWF Dumps 3 Shipping Firms
The Norwegian Central Bank has decided to exclude ship owners Evergreen Marine Corporation, Precious Shipping, Korea Line Corporation and Thorensen Thai Agencies from the Government Pension Fund Global (GPFG). The exclusion is based on the companies’ poor management of their end-of-life ships and the sale of these for dirty and dangerous shipbreaking on the beaches of Gadani, Pakistan and Chittagong, Bangladesh. The Norwegian Council on Ethics directs the Norwegian Central Bank…
SBM Offshore Hands over FPSO Turritella to Shell
SBM Offshore said it has completed the transaction related to the sale of floating production storage and offloading (FPSO) vessel Turritella to Shell E and P Offshore Services B.V. Shell exercised an option to purchase the FPSO from SBM Offshore in summer 2017. The Turritella FPSO is contracted for the Stones deepwater development in the Gulf of Mexico, which began production in 2016. The vessel has a daily production capacity of approximately 60,000 barrels of oil and 15 million cubic feet of natural gas.
BMT Hires Strategy Director Tomlinson
BMT has appointed Guy Tomlinson as Group Capability and Strategy Director. Tomlinson joins BMT from QinetiQ where he led a 35-strong business development team as UK Sales Director. He brings to the role experience from across the maritime, defense, cyber and information and training domains, as well as leading on several sales and business development transformation programs. Prior to joining QinetiQ, Tomlinson served in the Royal Air Force for 23 years as an engineer officer, with operational tours in Iraq, Kosovo and the Falkland Islands.
Hyundai Heavy Sets 2018 Sales Target $7.5 billion
South Korea's leading shipbuilder Hyundai Heavy Industries (HHI) aims to achieve 7.98 trillion won ($7.5 billion) in sales this year as its president warned of an unprecedented crisis due to declining order backlogs, reports Yonhap. Hyundai Heavy has not won any offshore plant orders for the past two years. The company's 2018 sales target represents a 60 percent decline from a decade ago. The shipyard said it is expected to post an estimated 10.03 trillion won in sales for 2017. The sales target is based on a parent base.
China, Vietnam Want Amicable Sea Dispute Solution
China and Vietnam agreed on Monday to use an existing border dispute mechanism to find a solution to a territorial dispute in the South China Sea, saying they did not want it to affect relations. The two countries have sought to patch up ties since their long-running row erupted in May, triggered by China's deployment a drilling rig in waters claimed by the communist neighbours, which lead to confrontation at sea between rival vessels and violent anti-Chinese protests in Vietnam. After a meeting between China's top diplomat, State Councillor Yang Jiechi, and Vietnam Foreign Minister Pham Binh Minh in Hanoi, China's foreign ministry said they had agreed to "appropriately handle the maritime problem".
Cheniere Signs 15-year LNG Supply Pact with Trafigura
U.S. natural gas producer Cheniere Energy Inc said on Tuesday Singapore-based commodity trader Trafigura Pte Ltd would buy about 1 million tonnes of natural gas per year from its unit for 15 years, starting 2019. The agreement with Cheniere Marketing, LLC would help the Houston-based company to fund its expansion plans, Chief Executive Jack Fusco said. The company has been expanding its presence in Asia to benefit from the rising demand for liquefied natural gas from the region.
Grand Bahama Shipyard Expands Sales Team
Grand Bahama Shipyard Limited (GBSL) has added three regional sales directors to its Marketing and Sales Division, with posts in the Americas, Europe and Asia/Middle East. According to the shipyard, their prime objectives will be to increase yard exposure, as well as develop future projects with existing and new customers for their refit, refurbishment or revitalization projects. Andre Szadzinski joined GBSL in August 2016 as Regional Sales Director for North and South America.
US Coal Exports Bound for Japan's New Power Plants
U.S. miner Cloud Peak Energy said on Tuesday it will export coal from a Montana mine for 30 to 40 months to two new power plants in Japan with shipments that could start late next year. The coal from Montana's Spring Creek Mine will be carried by rail to Vancouver and then sent by ship for delivery to two 540-megawatt coal gasification plants in Fukushima Prefecture, Cloud Peak said. JERA Trading Pte Ltd, a trading company based in Singapore, will buy the coal from Cloud Peak. Sales of the coal are expected to reach 1 million metric tonnes in the final contract year, Cloud Peak said.
Signal International Expands Sales Team at SSR
Signal International, Inc. announces the appointment of Tom Godfrey to the position of Domestic Sales and Marketing at the Signal Ship Repair (SSR) facility in Mobile, AL. Godfrey complements the sales staff with his 18 years of ship repair experience. Godfrey has a solid background in the Maritime industry including Planning and Project Management as well as sales. In recent years, Godfrey’s sales experience has focused on foreign and domestic blue water market. He is a 1986 graduate of the State University of New York Maritime College.
Jacobsen, Smordalen Wilhelmsen Management
The new vice presidents will have two roles. Each will be responsible for their own fields of operations - International Customer Services and International Sales - but they will also have a critical role in the CMT. Jacobsen started her career in shipping with the company in 1995. Since that time she has been employed in a number of key positions within Sales and Marketing, before moving into International Sales in 2008. Smordalen has a background in sales management. He started in 1993 as a sales trainee and rose to the position of Sales Director, Europe.
Japanese Yards Form Alliance
Three major Japanese shipbuilders are forming an alliance on commercial vessels and ocean engineering to survive competition with South Korean shipyards. The three firms -- Ishikawajima-Harima Heavy Industries, Kawasaki Heavy Industries Ltd and Mitsui Engineering & Shipbuilding Co Ltd will cooperate on joint procurement of materials and design skills for building commercial vessels, aiming to cut production costs. They will decide in one or two years whether to spin off their divisions for commercial ships and ocean engineering to form a joint venture, a Kawasaki spokesman said. If they do so, the joint firm's sales are likely to rise to a level equal to that of Mitsubishi Heavy Industries Ltd, spokesmen for the three shipbuilders said. The alliance excludes military ships.