Marine Link
Friday, January 19, 2018

Siemens Financial News

Siemens to Supply Eighty N. Sea Wind Turbines

Wind Farm: Image courtesy of NOAA

Siemens contracted by Germany's wpd group to supply & install 80 wind turbines for the Butendiek offshore wind power plant. The agreement also covers a long-term maintenance contract for a period of ten years, the first of its kind for an offshore wind project. Siemens is to provide a new logistics concept that includes a service operation vessel specially developed for deployments to offshore wind facilities. The order volume including service is more than EUR 700-million. When the Butendiek offshore wind power plant off Germany's North Sea coast comes online in 2015…

Siemens Highlights Sustainable Shipping at Workboat

Siemens Industry, Inc. announced that its booth at the 2010 International Workboat Show in New Orleans will focus on solutions for sustainable shipping, including the company’s SISHIP diesel-electric propulsion system. •    SISHIP Integrated Solutions for the Marine Industry – The SISHIP product family for commercial vessels integrates all products and services needed for sustained maximization of a ship’s performance with solutions designed to sustainably increase environmental compatibility and commercial efficiency of shipping operations. •    SISHIP Lifecycle Management – Proven life cycle management strategies built on real world successes help increase reliability while lowering operating costs.

DONG Becomes Lead Developer of UK's Offshore Wind Hornsea Zone

Photo: DONG Energy

Denmark's DONG Energy has become the lead developer of Britain's Hornsea Zone offshore wind scheme after it bought the project rights to the second and third phases of the development Mainstream Renewable Power and Siemens Financial Services. The Hornsea Zone, off the coast of northeast England, is being developed in phases to ultimately provide 4 gigawatts (GW) of renewable wind energy and has the potential to meet 40 percent of Britain's electricity demand. DONG acquired the first phase of the development, known as Hornsea Project One, earlier this year, which will have a capacity of 1.2 GW.

Mitsubishi Mulls Stake in Alstom

Nuclear steam turbine rotor (Photo: Alstrom)

Japan's Mitsubishi Heavy Industries is considering taking a direct stake in French engineering group Alstom as part of an offer with Germany's Siemens, two French newspapers said on Thursday. Financial daily Les Echos said Mitsubishi is considering buying part of French Bouygues's 29 percent stake in Alstom and would also buy Alstom's steam turbines while Siemens would take over its gas turbines. At a later stage, after an expected offer for Alstom on June 16, Siemens would contribute its transport assets to Alstom…

MHI, Siemens Outline Alstom Proposal

Mitsubishi Heavy Industries (MHI) and Siemens submitted an offer letter specifying further the proposed transaction to Alstom. With the specified offer MHI and Siemens reaffirm their commitment to strengthen Alstom as an independent Global Player in Energy and Transport. After extensive discussions with all stakeholders over the past days MHI and Siemens reviewed their proposal with regards to reducing complexity, strengthening execution and narrowing risk exposure. Based on this, MHI and Siemens decided to further simplify the structure of the proposal for the benefit of all parties involved. This resulted in an additional cash contribution of Euro 1.2 billion to Euro 8.2 billion, while the total valuation of Alstoms energy business increases by Euro 400 million to Euro 14.6 billion.

Alstom Accepts 10 Bln Euro GE Bid For Its Energy Unit

Brand

The board of Alstom accepted General Electric's 10 billion euro ($13.82 billion) bid for its energy unit on Tuesday, several sources familiar with the situation told Reuters. Sources said GE is not in exclusive talks with Alstom. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG , which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer. Alstom is expected to make a statement about the two offers early on Wednesday…

Foss Names Sumner CFO

Bryceon Sumner (Photo: Foss)

Bryceon Sumner has joined Foss Maritime as chief financial officer, hired to oversee all aspects of the organization's financial function and performance. Sumner brings to the role years of experience gained at a number of organizations ranging from education technology and real estate, to architecture and financial services. Prior to joining Foss, Sumner served as COO and CFO for public and private companies, family offices and as a senior financial officer of a $60 billion government banking insurance fund.

Siemens Asks Alstom For More Info

 French Economy Minister Arnaud Montebourg

Germany's Siemens wrote to Alstom on Tuesday asking for more information ahead of a likely offer for the French company's power business, French Economy Minister Arnaud Montebourg said. Alstom is already in talks with U.S. conglomerate General Electric over a 12.35 billion euro ($16.9 billion) bid for its power arm, which it is due to review by June 2. Under pressure from the French government, however, it has opened its books to Siemens as well. Sources have told Reuters that…

New CEO, Co-CEO to Lead MHI Vestas Offshore Wind

Photo: Vestas Wind Systems A/S

Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems (Vestas) have appointed Philippe Kavafyan to Chief Executive Officer (CEO) and Lars Bondo Krogsgaard to Co-Chief Executive Officer (Co-CEO) of MHI Vestas Offshore Wind. The appointments will take effect on 1 April, 2018, and are made in accordance with the joint venture agreement's principle of changing its leadership every four years. Under the leadership of out-going CEO Jens Tommerup and Co-CEO Tetsushi Mizuno, MHI Vestas Offshore Wind has established itself as a leading player in offshore…

Siemens Ups Stake in Offshore Renewables

British tidal energy company, Marine Current Turbines Ltd, announced that Siemens is increasing its share in the company to 45%. “With this increase in its stake, Siemens is strengthening its activities in ocean power generation. We will actively shape the commercialization process of innovative marine current power plants,” said Michael Axmann, CFO of the newly founded Solar & Hydro Division within Siemens’ Energy Sector. Marine Current Turbines (MCT) has evolved from a pioneer to a technology leader in horizontal axis marine current turbines and now has 25 employees. In February 2010 Siemens acquired a minor stake in the Bristol-based company and thus entered the marine tidal current market. Financial details of today’s announcement are not disclosed.

Siemens Debuts ELFA Propulsion Solution

Siemens is closing the gap between large merchant vessels and small recreational or commercial crafts traditionally powered by mechanical propulsion solutions with the introduction of one, unified platform that combines traditionally disparate on board systems. The company’s new ELFA propulsion solution merges normally stand-alone systems (power management, motors, thruster, auxiliary generators, batteries, monitoring and control) into a truly integrated, space saving solution. By integrating communications with the power supply, the ELFA propulsion solution can considerably reduce fuel consumption and enhance range, maneuverability, availability and redundancy. As the world’s first company to electrify a ship in 1879, Siemens has a long history in marine technology.

Siemens Provides Hypochlorination Systems for LNG Ships

Samsung Heavy Industries (SHI) has awarded Siemens Water Technologies an order for 14 Electrocatalytic Chloropac sodium hypochlorite generating systems. SHI, in turn, will install the systems on separate liquefied natural gas (LNG) carriers for three petrochemical companies. The Chloropac systems from Siemens will help prevent marine growth in the main components of the LNG carriers’ seawater cooling systems, including sea chests, piping, coolers, and heat exchangers. The first system was delivered to SHI in May, with subsequent deliveries scheduled throughout 2007 and 2008.

Shipbuilding: $13.3 Mln Awarded for R&D Projects

© wi6995 / Adobe Stock

The National Shipbuilding Research Program’s (NSRP) Executive Control Board has selected a new round of research and development (R&D) projects aiming to spur technology advancements in order to reduce costs associated with shipbuilding and ship repair in the U.S. The seven projects – valued at over $13.3 million, including cost share – were selected from those proposed in response to research announcement issued in July 2017, and are outlined below. Objective: The primary goal…

Siemens Appoints Janina Kugel As Chief Diversity Officer

 Janina Kugel

Siemens informed that with effect from July 1, 2014, Janina Kugel will assume the position of Chief Diversity Officer (CDO) for Siemens AG in addition to her current responsibilities as Head of Personnel Strategy and Executive Development. Ms. Kugel replaces Denice Kronau, who is leaving the company on May 31, 2014 by mutual agreement to further pursue her writing and speaking career. "Ms. Kronau's outstanding contributions as CDO and leader of Siemens' Diversity Initiative ensured that Diversity has become a significant part of the Siemens values," said Siemens President and CEO Joe Kaeser.

Hellenic Navy Orders Siemens Technology

Siemens Industrial Solutions and Services (I&S) Group is now to equip a fourth Class 214 submarine with modern propulsion, control and monitoring technology for Greece. The project includes delivery of the Permasyn electric motor, the PEM fuel cell modules, and the "Nautos" automation system. The order volume is about EUR 21 million. Handover of the submarine to the Hellenic Navy is scheduled for 2009. In 2001, Siemens had already received an order to equip three vessels of the same type. Like the previous three vessels, the new submarine will have a Siemens Permasyn type electric propulsion drive. These DC-powered permanent-magnet excited synchronous motors are characterized by an extremely low signature…

Siemens Fits Out Italian Submarines

The Marine Engineering Subdivision of Siemens Industrial Projects and Technical Services Group (ATD) is fitting out two submarines for the Italian Navy with propulsion and control systems worth $60 million. About half of the order will go to Siemens Power Generation Group (KWU), which will be supplying the fuel cells for the propulsion system. Currently under construction at Italy's Fincantieri shipyard to drawings supplied by German shipyards Howaldtswerke Deutsche Werft AG and Thyssen Nordseewerke GmbH. Siemens brings experience in the fitting out of more than 120 submarines to this project, with the Italian Navy also granting the company an option for the fitting out of two more submarines.

EPD, Siemens Form Solutions Partnership

Electronic Power Design, Inc. (EPD) and Siemens Industry, Inc. Drive Technologies today announced that the companies have formed a solutions partnership for Siemens ELFA R hybrid propulsion systems. Siemens recently released its newly designed ELFA hybrid propulsion system, which offers considerably enhanced fuel consumption, range, redundancy, and maneuverability. The Siemens ELFA successfully closes the gap between large merchant vessels and small recreational and commercial crafts traditionally powered by mechanical propulsion solutions. The standardized plug and operate solution further reduces the time/effort required for installation and integration into the vessel.

Siemens Plans US Wind Service Training Center

Siemens plans to build a new, state-of-the-art wind turbine service training facility in Orlando, Florida. The demand for skilled wind service technicians is increasing as more wind projects come online in the Americas, thereby requiring long-term service and maintenance. Siemens is designing this new 40,000-square-foot center, which will be located close to the global headquarters of Siemens’ Energy Service division in Orlando, to be among the most advanced wind training facilities in the world. Siemens’ initial investment will be approximately $7 million and the company plans to create 50 new full-time jobs and host approximately 2,400 trainees annually from the U.S. and the Americas.

Merkel Says Siemens-Alstom Is Above All Corporate Decision

Chancellor Angela Merkel

Chancellor Angela Merkel said on Saturday that the German government would positively accompany a tie-up between Siemens and Alstom but said that any link would be first and foremost a corporate decision. Speaking at a news conference with French President Francois Hollande in the Baltic town of Stralsund, Merkel said the German government, at least, does not want to intervene in the corporate decision-making. She said Siemens first has to come forth with an offer. Alstom is the target of a takeover bid from U.S. giant General Electric.

OC Selects Siemens Blue Drive PLUSC Propulsion Solution

Siemens Blue Drive PLUSC Low Voltage Propulsion Solution providing reliability, Safety, increased fuel efficiency, reduced greenhouse gas emissions (Methane, NOX and SOX) and reduced maintenance costs. Siemens Industry announces it was awarded a contract to equip Otto Candies (OC) Subsea Support and Construction Vessel (SSCV) for offshore Oil & Gas support, with its unique Blue Drive PLUSC Diesel Electric Propulsion (DEP) Solution. Candies Shipbuilding located in Houma, LA. will build the vessel. The total order value is more than $6 million.

Siemens And France Weigh In As GE Eyes Alstom Deal - Update

Siemens and the French government intervened in General Electric's plan to buy the power arm of Alstom on Sunday with an alternative European "champions" tie-up proposal and a pledge to act inFrance's national interest. Though French trains-to-turbines maker Alstom is privately owned, firebrand Economy Minister Arnaud Montebourg issued a stark reminder of the influence the government holds over a company that relies heavily on orders from state rail operator SNCF and partly state-owned utility EDF. "GE and Alstom have their calendar, which is that of shareholders, but the French government has its own, which is that of economic sovereignty," Montebourg said in a statement, providing the first official confirmation of GE's offer.

L-3 Contract to Manufacture Siemens Transformers

L-3 Power Paragon announced that its Power Magnetics division has been awarded a multi-million dollar contract by Siemens Industry, Inc. The contract calls for L-3 to manufacture an undisclosed number of Siemens’ 17-megawatt Perfect Harmony Medium Voltage Converter Transformers, which Siemens will use for a large pipeline project in Asia. L-3 Power Paragon engineers, develops, manufactures and integrates power conversion and distribution systems for defense, government and advanced industrial applications. www.L-3com.com

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday. Siemens declined to comment on the report. Such an offer would put Siemens in competition with Swiss pump maker Sulzer, which said on Wednesday it was in talks on a potential merger with Dresser-Rand.   Reporting by Georgina Prodhan

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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