Technology Investment News

11 Jan 2019

Oil and Gas Digital Investment Set to Surge

Digital Oil and Gas. Pic: Cisco

Global oil and gas executives are preparing to accelerate their investment in digital technologies, primarily as they seek to double down on their cost-saving ambitions.An EY survey of 100 global oil and gas executives found that 89 percent expect to step up their investment in digital over the next two years.Despite oil prices reaching more attractive levels during the third quarter of 2018, operational efficiency remains a top priority owing to a legacy of falling prices in…

02 Mar 2018

AVEVA, Schneider Electric Join Forces to Promote Digitalization

Image courtesy AVEVA

AVEVA announced it has combined with Schneider Electric’s industrial software business to drive digital transformation across the asset and operational life cycle for capital-intensive industries. “88% of leaders in capital-intensive industries say that digitalization would increase their revenues,” said Craig Hayman, Chief Executive Officer at AVEVA. “Yet less than half of these companies are actually in the process of adopting a digital strategy. “Digitalization demands a fundamental rethink of the way organizations operate.

03 Oct 2016

NYK Steams Ahead

(Photo: NYK)

Tokyo-based Nippon Yusen Kaisha (NYK) Group is not only one of the world’s largest ship owners with a diverse fleet of more than 800 ships, it is a growing global maritime logistics powerhouse. Maritime Reporter & Engineering News visited with Yasuo Tanaka, Senior Managing Corporate Officer, Naval Architect, in Tokyo for his insights on the company’s continued efforts to invest in operational efficiency. The story of NYK cannot start without a look at the numbers, because the numbers tell the story in a most impressive fashion.

15 Dec 2014

US, UK Navies Plan Future Cooperation

Leaders of the U.S. and British navies agreed on a shared vision for closer cooperation Dec. 11, the culmination of a yearlong effort that will build on a long-standing maritime partnership over the next 15 years. Chief of Naval Operations Adm. Jonathan Greenert and his counterpart in the United Kingdom, First Sea Lord Sir George Zambellas, signed a combined strategic narrative that articulates a shared vision for deeper cooperation between the U.S. Navy (USN) and the Royal Navy (RN). "The United States and the United Kingdom rely on our navies to project power in critical regions and to protect the freedom of navigation that underpins the global economy," said Greenert.

11 Nov 2014

Condition Based Monitoring & Saving Cash

Profitability in shipping goes up and down in waves. 2012 wasn’t too bad, with annual operating costs shrinking by 1.8% on average versus 2011, when average costs rose 2.1%, but 2013 weighed anchor in the losses column for many. And 2014? So far the waters are choppy, with the overall mood up in May but dipping down in the quarter that ended in August, according to Moore Stephen’s quarterly Shipping Confidence Survey. Much of what worries the industry concerns issues over which it has little to no control – oversupply…

08 May 2014

Corvus Energy Gets Green Marine Capital Backing

Image: Corvus Energy

Lithium-ion battery systems manufacturer, Corvus Energy, says agreement in principle has been reached with BW Ventures’ Green Marine Capital (GMC), a Maritime Technology Investment Partnership, for a strategic investment of US$5 million to fund working capital requirements. Corvus also says that Andrew Morden, Chief Financial Officer, has been appointed interim CEO replacing Brent Perry effective May 5, 2014. “The Board of Directors and majority shareholders of Corvus are very pleased to partner with Green Marine Capital.

06 May 2014

Corvus Partners with GMC; Morden Named Interim CEO

Corvus Energy today announced that it has entered into an agreement in principle with BW Ventures’ Green Marine Capital (GMC), a Maritime Technology Investment Partnership, for a strategic investment of $5 million with the primary purpose of funding working capital requirements. “The Board of Directors and majority shareholders of Corvus are very pleased to partner with Green Marine Capital. The firm is focused on the benefits that our technology brings to the marine industry and understands its future potential.” commented Nick Andrews, Chairman of the Corvus Board of Directors. “GMC is an industry leader and they have the capability to promote our technology quickly and globally and accelerate its deployment into the marketplace.

30 Apr 2014

ABS Reports Continued Successes in 2013

ABS Chairman and CEO Christopher J. Wiernicki

ABS hosted its Annual Meeting in New York on April 29, 2014. ABS Chairman and CEO Christopher J. In 2013 the ABS-classed fleet expanded to 205.6 million gross tons (gt), a growth rate of more than 6 percent year-on-year. ABS became only the second classification society to surpass the 200 million gt mark. ABS also maintained a leading position in the global orderbook closing out the year with 38.8 million gt contracted to class with ABS, 22 percent of all vessels on order. "Through sound technology investment…

07 Nov 2013

ABS Appoints Chief Scientist for CFD

Dr. Richard Korpus

ABS, a provider of maritime and offshore classification services, appointed Dr. Richard Korpus as Chief Scientist, Computational Fluid Dynamics (CFD). In the Chief Scientist role, Korpus will support the Chief Technology Officer (CTO) and the organization through his focus on developing and applying CFD technology. "We see technology as the road forward," said ABS Chairman and CEO Christopher J. Wiernicki. The creation of this Chief Scientist position is the most recent step in the continuing process of technology investment at ABS.

06 Nov 2013

Liverpool Container Terminal Drives Technology Upgrade

Port of Liverpool

The development of a £300 million container terminal in Liverpool (U.K.) is driving a major technology investment by Britain’s second largest ports group. Peel Ports is introducing the Navis N4 terminal operation system – acclaimed as the gold standard in global container management – at eight sites in the U.K. and Ireland. The upgrade is being driven by Liverpool2 – a new container hub for the U.K. and Ireland which will serve as the enabling platform from which the group will standardise and centralise its terminal operation systems.

07 Oct 2013

Wrist Ship Supply Reports 30% U.S. Growth

Wrist Ship Supply has announced growth of more than 30% in its North American-based operation, in what it describes as a milestone for ship supply in the United States. The growth follows Wrist’s acquisition of World Ship Supply, West Coast Ship Supply, East Coast Ship Supply and Karlo Corporation – collectively known as One Source North America – in 2010. The successful integration of the largest ship supply organization in North America has given Wrist a significant presence in the North American and Canadian markets. “The geography and sheer scale of North America makes it one of the toughest regions to deliver efficient ship supply services.

06 Sep 2013

Intelsat Appoints John Diercksen to Board of Directors

John Diercksen (Photo: Verizon)

Intelsat S.A., a satellite services provider, announced that its board of directors has elected John W. Diercksen to serve on the board as an independent director effective today. Mr. Diercksen will also serve on the Audit Committee. Mr. Diercksen is currently an executive vice president of Verizon Communications, with responsibility for key strategic initiatives related to the review and assessment of potential mergers, acquisitions and divestitures. At Verizon, he previously held the position of executive vice president…

30 Apr 2013

Ports of Auckland Selects Navis Terminal Operating System

Photo: Port of Auckland

Navis, a part of Cargotec Corporation and the global technology standard for managing the movement of cargo through terminals, announced that New Zealand-based Ports of Auckland (POAL) has selected the Navis SPARCS N4 terminal operating system (TOS) as part of a strategic technology investment. With SPARCS N4, POAL will optimize vessel and yard planning, as well as leverage the TOS as a driver for other key process improvement technologies at the terminal. After a previous engagement with another packaged TOS…

30 Apr 2012

Cummins Announces High HP Dual Fuel Product

QSK50 Tier 2

Oil And Gas Dual Fuel Products In Production Midyear 2013. Cummins Inc. announced today its plans to produce dual fuel engines from 800 hp to 3500 hp (597-2610 kW) for high-horsepower markets. The first in the product portfolio, QSK50 Tier 2 for oil and gas well servicing applications, will begin production in midyear 2013, with other QSK Series engines to follow, including engines capable of meeting upcoming EPA Tier 4 Final emissions regulations. Cummins high-horsepower dual fuel engines will operate with common integrated controls…

25 Oct 2011

GE: Significant Progress in GE38 Engine Testing

GE reports significant progress in the GE38 engine qualification program at its Lynn, Massachusetts, test facility. Testing to date indicates the GE38’s capabilities will successfully meet United States Navy requirements for the Ship-to-Shore (SSC) project at an affordable cost. Nearly 1,000 hours have been completed during GE38 factory engine testing under the U.S. Navy’s Heavy Lift Replacement System Development and Demonstration program. The first of 20 flight test engines -- shipped in August 2011 -- will be installed on the first CH-53K ground test prototype helicopter.

24 Sep 2010

NSRP Issues New Research Announcements

The National Shipbuilding Research Program (NSRP) issued a new Research Announcement (RA) on September 24, 2010. The RA is posted on the NSRP website (http://www.nsrp.org/Solicitation/ra0901_solicitation.html), along with associated proposal guidance, forms, and sample contracts. The RA is also being published on FedBizOpps (www.fbo.gov). Proposers must submit a project abstract no later than October 25, 2010. Full technical and cost proposals are due no later than 12:00 pm Eastern Time on February 11, 2011. An on-line Proposers Conference using GoToMeeting® has been scheduled for October 12, 2010 at 2:00 pm Eastern Time; access to the conference will be open at 1:30 pm. Details on the Proposers Conference and a required registration form are posted on the NSRP website.

19 Aug 2010

NSRP ASE Pre-Solicitation Notice

A pre-solicitation notice has been released for the NSRP Advanced Shipbuilding Enterprise (ASE) Program. Upon reasonable assurance that FY11 funds will be provided (expected late summer 2010), the NSRP Advanced Shipbuilding Enterprise (ASE) Program plans to issue a formal Research Announcement on the research effort described below. The NSRP ASE program goal is to reduce the cost of building and maintaining U.S. Navy ships. To accomplish this, NSRP ASE is focused on industry‐wide implementation of solutions to common cost drivers – solutions to consensus priority issues that exhibit a compelling business case to improve the efficiency of the U.S. Shipbuilding and Ship Repair Industry.

30 Aug 2010

NSRP ASE PreSolicitation: Notice for Research Announcement

This is a pre‐solicitation notice for the NSRP Advanced Shipbuilding Enterprise (ASE) Program. Upon reasonable assurance that FY11 funds will be provided (expected late summer 2010), the NSRP Advanced Shipbuilding Enterprise (ASE) Program plans to issue a formal Research Announcement on the research effort described below. The NSRP ASE program goal is to reduce the cost of building and maintaining U.S. Navy ships. To accomplish this, NSRP ASE is focused on industry‐wide implementation of solutions to common cost drivers – solutions to consensus priority issues that exhibit a compelling business case to improve the efficiency of the U.S. Shipbuilding and Ship Repair Industry. Solutions include both leverage of best commercial practices and creation of industry‐specific initiatives.

12 Nov 2009

Opening of SMM Int’l Trade Fair, India

The world has come to recognize the potential of the Indian shipping industry, its capability to innovate and grow on the global stage, said APVN Sarma, former Secretary, Shipping, at the inaugural SMM India, shipbuilding, machinery & marine technology trade fair and exhibition. “The SMM exhibition is being organised at a very appropriate time”, said Arun K Mago, Chairman, Advisory Council, SMM India 2009. Mago said, “Though India and China were not affected as much as by other developed countries, it has had an adverse affect on the shipping trade. It has been one of the worst moments for the sector in living memory. SMM India 2009 provides a platform for dialogue and business interaction between over 100 exhibitors from all parts of the world.

13 Oct 2009

NSRP Research Announcement Released

The National Shipbuilding Research Program (NSRP) issued a new Research Announcement (RA) on October 12, 2009. The RA is posted on the NSRP website (http://www.nsrp.org/About_Us/solicitation_information/solicitation_information.html), along with associated proposal guidance, forms, and sample contracts. The RA is also being published on FedBizOpps (www.fbo.gov). Unlike previous NSRP solicitations, proposers must submit a project abstract no later than November 12, 2009. Full technical and cost proposals are due no later than noon on February 12, 2010. An on-line Proposers Conference using GoToMeeting has been scheduled for October 27, 2009 at 2:00 pm Eastern Time; access to the conference will be open at 1:30 pm.

15 Jan 2001

Greeks Boost Liberian Registry

Greek shipowners have boosted the Liberian Registry, committing important newbuildings to the flag. European Navigation has committed five tanker newbuildings, Metro Star has put seven tankers onto the registry and Chandris-backed Celebrity Cruises chose the Liberian flag for its newbuilding cruise ship Millennium and has committed two further newbuildings to the flag. Yoram Cohen, chief executive of LISCR, which manages the Liberian Registry, says, "The choice of our flag by these significant owners demonstrates the confidence they have in the Liberian Registry's ability to deliver the highest quality service and the highest standards of any registry.

02 Apr 2003

UK Report: VT Halmatic Takes Charge

Despite a parceling of marine business to the Far East, the British commercial and naval marine construction base has fought to maintain an edge in certain niches. VT Halmatic has been one of the more progressive and aggressive British companies in maintaining a strong hold on commercial and military marine business, with the production of some outstanding boats for pilot, patrol, marine security and naval operations. Noting the 60 to 70 percent of the company's production is for export, Sebastian Freeman, commercial controller, said, "that's how we survive." While the client list is diverse, VT Halmatic's "bread and butter" is the pilot and workboat markets, and despite the fact that the majority of is boats are sent abroad, the Royal Navy is still its biggest customer for RIBs.

Maritime Reporter Magazine Cover Mar 2019 - Cruise Shipping

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