Marine Link
Sunday, January 21, 2018

Successful Year News

Port Saint John Cargo Volume up 15%

Photo: Port Saint John

Year-over-year total cargo tonnage at Port Saint John, Eastern Canada’s largest port by volume, increased by over 4 million metric tonnes in 2017. Overall cargo tonnage handled for the year 2017 was 30,458,422 metric tonnes, a 15% increase over 2016. All cargo sectors, aside from the anticipated exception of containers, experienced significant gains in 2017. Additionally, the loss experienced in containerized cargo was lessened due the introduction of a new weekly container service by CMA CGM in 2017.

TT Club's Reports Strong 2003

The TT Club, a provider of insurance and risk management services to the international transport and logistics industry, has reported another successful year for its financial year 2003. combined ratio - the underlying operating performance. 18% from US$326.3 million) were at their highest for five years. increased 10% from US$62.8 million to US$69.3 million. million to US$17.1 million. improvement of US$2.3 million. commented Sir David Thomson, Chairman of the TT Club. three-year quota share reinsurance with the same Group. transferring its business to the joint venture partner, BV-Unicon. results positive. minus rating as quickly as possible," he said.

Sentinel Marine Secures Two New Contracts

(Photo: Sentinel Marine)

Sentinel Marine said it has secured two new contracts bringing the Aberdeen-headquartered firm’s contract wins to a total of £26.4 million ($34.4 million) since January this year. The latest contract wins will provide continued employment for 72 seafarers in the North Sea. Sentinel Marine’s contract with Statoil UK Limited will see the provision of an emergency response and rescue vessel (ERRV) Portland Sentinel in the energy producer’s Mariner field from the beginning of August. The Portland Sentinel will join Mariner Sentinel, the latest vessel to join the Sentinel Marine fleet.

EMGS Posts 4Q 2014 Results

pic : Electromagnetic Geoservices ASA

Electromagnetic Geoservices ASA (EMGS) recorded revenues of USD 52.5 million in the fourth quarter 2014, up from USD 41.7 million in the third quarter and from USD 44.9 million in the corresponding quarter in 2013. Contract sales totaled USD 25.5 million, while multi-client sales were at USD 27.0 million this quarter. The Company had an EBITDA of USD 18.6 million and a net income of USD 15.1 million. The Company had record-high multi-client sales in the quarter, mostly from the library in the Barents Sea.

Mersey Docks Records Profit Increase

Mersey Docks & Harbour Co. reported a marginal rise in pre-tax profit on Thursday and a successful year in terms of growth and progress. Pre-tax profit before exceptionals rose to 52.3 million pounds from 52 million in the previous year, on a 21 percent turnover rise to 229.9 million pounds. The results were well in line with market expectations. The company underlined the fact that profits had increased despite an estimated three million pound impact from the temporary closure of a Dublin container terminal. Industrial action caused by the decision to re-organize and re-equip the terminal led to its temporary closure from September 15 last year and the dispute pulled down the shipping division's results. - (Reuters)

Kelly Named Managing Director of Triogen

Eric Dehouck, CEO of Degremont Technologies (right), attended an official meeting on Thursday, January 9 where Jim Wheatley (center) and Tom Kelly (left) shared the traditional Scottish “Quaich” signifying the handover.

Triogen, a branch of Degremont Technologies (Suez Environment group), announce the appointment on January 1, 2014 of Tom Kelly as Managing Director. Tom Kelly succeeds Jim Wheatley, founder of the Company. Jim retires after more than 30 very successful years at Triogen. Tom began his career in Yarrow Shipbuilders and is a qualified electrician, draughtsman and design engineer. He has a BSc and B Eng (Hons) in Electrical Engineering. Tom joined Triogen in December 1990 as an Electrical Design Engineer and has progressed through various positions.

Stena Bulk Takes Control of Stena Weco

Erik HĂĄnell (Photo: Stena Bulk)

Stena Bulk has agreed to purchase the remaining 50 percent of the shares in Stena Weco from its partner WECO Shipping. Stena Weco will thus be wholly owned by Stena Bulk. Stena Weco’s head office will remain as it is today in Denmark in addition to the regional offices in Singapore, Dubai and Houston. Within the agreement between Stena Bulk and Weco, WECO Shipping will continue to run their controlled fleet in the Stena Weco logistic system. Stena Weco currently operates around 65 vessels, about half of which are owned and half chartered.

Stena Bulk Reports Profit for 2006

Stena Bulk finished another successful year with a profit of almost $141m. With a deployed fleet of 60 vessels totaling more than 6 million dwt, Stena Bulk is the largest tanker shipping company in Sweden. The company has a market share of 40% in the Caribbean, 20% on the North Sea and 15% in the Baltic Sea. A total of about 2,000 persons are involved in Stena Bulk’s activities, including about 50 persons ashore at offices in Gothenburg, Houston, London, Moscow, Singapore and Beijing. Five new vessels were delivered in 2006 and a further six have been ordered for delivery up until 2010. These six units are all so-called Stena P-MAX tankers and will join the fleet of ten vessels of the same design…

Bayonne Drydock Logs Successful '14

Mike Cranston, President of BDD

Bayonne Drydock kicked off last year with the repair and drydocking of the U.S. Navy Ship, Pomeroy followed by the successful drydocking and repairs of the USNS Watkins. It closed the year with the completion of the USNS Seay; all were completed on time, with the Seay coming in ahead of schedule with work that included bowthruster overhaul repairs, blasting and painting and hull coatings. In addition to the Grey hulls, BDD serviced several commercial customers via drydock and pier side repairs.

AIDA Celebrates Record Year

AIDA Cruises achieved an exceptional increase in its annual results for the business year 2005. With a turnover of € 375 million and a total of 233,000 passengers, AIDA Cruises has had its most successful year since the company was founded. Around 10% more guests spent their holiday on board an AIDA Club Ship than in the previous year 2004. Sales also rose from € 370 million to € 375 million. The increase in turnover is lower than that for passenger numbers on account of a considerable reduction in flight volumes. AIDA Cruises has initiated a number of major investment projects during the last financial year with, for example, three new AIDA vessels being built at the Meyer Shipyard in Papenburg at a cost of € 945 million.

James Murray Joins Gulfstream Shipbuilding Management Team

James Murray (Photo: Gulfsteam Shipbuilding)

Gulfstream Shipbuilding welcomes James Murray, a second generation boat builder and operator/owner, to the Sales Management Team. James is the son of Jim Murray, who originally opened the shipyard 35 years ago as Freeport Shipbuilding. James built a variety of custom boats at the shipyard before venturing off to start his own successful passenger excursion company. Now, James returns to partner with the current owner Stuart Reeves on a new generation of custom shipbuilding. “James exhibits the same passions and values that his father instilled on this company 35 years ago…

GEOSHIPS Extends Fleet Following Successful Year for First Vessel

SeaHold GEOSHIPS Ltd., a marine and subsea services shipping company, has taken delivery of its second multi-purpose support vessel (MPSV) on a contract valued at over £30million, following a successful year for its current vessel, the Stril Explorer. Formed in 2003, Aberdeen-based GEOSHIPS will manage and crew the MPSV Loch Roag vessel, which it has taken on a five-year bareboat charter basis from Otto Marine Ltd. The contract is valued at  £22million ($36.5 million) over five years with an option to extend the contract for two more years…

Stevens to Host 2013 Innovation Expo

Photo: Stevens Institute of Technology

Stevens Institute of Technology will host its 2013 Innovation Expo on April 24, 2013, allowing the public a peek at innovative technologies, products and services developed by students and faculty throughout the year, and introducing a new lecture series on business and entrepreneurship. The Stevens Innovation Expo is an annual, one-day, campus-wide event which displays the extensive research and innovation accomplishments of faculty and students. From mobile apps to solar houses to financial software to biomedical products…

Genting Acquires Crystal Cruises

 CRYSTAL SERENITY at sea, courtesy of Crystal Cruises

Crystal Cruises has been sold for $550 million to the owner of Asia's largest cruise line and a major shareholder of Norwegian Cruise Line. Crystal's parent company, Nippon Yusen Kabushiki Kaisha has sold the line to Genting Hong Kong, which owns Star Cruises. The deal is expected to close in the second quarter of 2015. The acquisition is expected to close in the second quarter of 2015. The announcement said that "with the support of GHK’s financial strength and expertise in ship design…

Tidal Energy Leaders to Collaborate

CEOs of the world’s leading tidal device developers to meet & collaborate at upcoming summit. CEOs from Atlantis Resources Corporation, Andritz Hydro Hammerfest, Marine Current Turbines, Tidal Generation (Rolls Royce) and Voith Hydro Ocean Current Technologies have again committed in 2012 to help push forward the tidal energy industry by continued collaboration and information sharing. They will be joined for the first time by Christopher Sauer, the President and CEO of the USA’s Ocean Renewable Power Company. The ORPC has made headlines this year by securing a PPA agreement with the Maine Public Utilities Commission to sell grid-connected power from their TidGen project in Eastport, giving a boost to device developers and manufacturers.

AIDA Has Most Successful Year, Fleet to Grow

2010 was the most successful year in the history for AIDA Cruises, with a strong surge in both sales and passenger numbers. A total of 511,400 guests travelled on the seven AIDA ships, corresponding to 97,400 more passengers than in the previous year. Total sales revenue also rose to $1,161m, compared to $949.7m in the financial year 2009. AIDA Cruises started the business year with six ships. The newly built AIDAblu then joined the fleet soon after on 9 February 2010 as the company’s seventh vessel. In line with helping to protect the environment, the reduction of fuel consumption plays an important part in the development of our new ships…

Ferguson Reports Profits Increase for 2012

The Ferguson Group, global specialists in the provision of offshore DNV 2.7-1/EN12079 containers and accommodation solutions, has posted its 2012 results, which show continuing growth, with worldwide sales increasing by over 10% to £57.6m and pre tax profits up to £16.2m from £15.6m in 2011. Commenting on the results, Richard Smith, Group Finance Director, said: “2012 was another successful year for the Ferguson Group, which saw the company increase profits during a year of continuing investment in our global infrastructure and asset base.

Sparrows Reports Profit and Turnover Growth

Doug Sedge

Sparrows,  a company in offshore lifting and mechanical handling services, announced increases in both profits and turnover for 2012. Earnings at the Aberdeen headquartered company before interest, tax, depreciation and amortisation (EBITDA) were £20.8 million with turnover reaching £188million. In comparison, profits in 2011 were £17.5million on a turnover of £172million. The U.K. accounts for 53% of total turnover with international sales making up the remaining 47%. Sparrows also increased staff numbers from 1,649 at the beginning of 2012 to 1,748 by the end of the year.

Greenbrier Condoles the Passing of Emeritus Board Member Atiyeh

Victor G. (“Vic”) Atiyeh: Photo courtesy of Greenbrier

The Greenbrier Companies, Inc. says it joins all of Oregon in expressing its condolences to the family of Victor G. (“Vic”) Atiyeh, former Governor and past member of Greenbrier’s board of directors. Atiyeh died late Sunday at the age of 91. He is remembered as a two-term Governor who helped shape the modern economy of Oregon, where Greenbrier continues to grow and prosper to this day. Atiyeh completed eight successful years as Governor from 1979-1987 that were preceded by decades of impactful service in the Oregon Legislature.

MOL Okays Dividend and Share Split

Photo: MOL Group

MOL Shareholders in the Annual General Meeting have accepted the Board’s proposal for HUF 58 bn dividend payment, which was set to allow the Dividend Per Share (DPS) to grow by 10.2% to HUF 625 from last year’s HUF 567. This represents the continuation of the last years’ gradually increasing trend of the regular dividend payment. Shareholders also approved the proposal of the Board of Directors for an 8 for 1 stock split. The current price of one MOL share (around HUF 20,000) is multiple of the share prices of other companies of the BSE premium segment.

NorShipping Logs Successful Week

Nor-Shipping recorded its most successful year ever, in terms of exhibitors, visitors and events. "As a source of strategic inspiration and professional opinion, Nor-Shipping this year was truly seen by the market as an opportunity to join the leaders," said Tollef Schiander, director for Nor-Shipping on behalf of its organiser Norway Trade Fairs. Nor-Shipping had 13,745 professional visitors during the 4-day event. 828 exhibitors from 42 countries brought 6,685 representatives to Nor-Shipping 2007, adding the total number of official delegates to well over 20,000. Given the wide variety of social and professional arrangements happening in parallel throughout the Oslo region, the leading maritime event week's numbers rise to probably more than 25,000.

Widdows to Lead Rickmers

Ron Widdows to take over from Jan B Steffens as CEO of Rickmers Holding and Rickmers-Linie. After ten very successful years with the Rickmers Group and especially, with Rickmers-Linie, Jan B Steffens will by 31 March 2012 step down from the twin positions of CEO of Rickmers Holding and of Rickmers-Linie although he will continue to serve on the Rickmers Group advisory board. Ronald D Widdows, former CEO of NOL/APL, is to become the new Chief Executive Officer of Rickmers Holding and Rickmers-Linie as of 1 April 2012. Rickmers’ Chief Financial Officer Dr Ignace Van Meenen will act as his deputy. Announcing this change, Bertram R C Rickmers…

Bibby Renews Contract with Talisman Sinopec Energy U.K.

DSV Bibby Topaz

Aberdeen-based subsea installation contractor Bibby Offshore has secured a contract extension worth in excess of £100 million,with Talisman Sinopec Energy UK. A further three years with a one year extension option has been signed, making this the longest fixed term contract to be secured by Bibby Offshore. As part of the agreement, Bibby Offshore will deliver construction and inspection, repair and maintenance (IRM) works via its Diving Support Vessel (DSV) Bibby Topaz. Howard Woodcock…

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

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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