Technology Investment News

Norwegian offshore vessel owner Solstad Offshore ASA has received an 87 million crowns (~$9.79 million) grant from Innovation Norway to reduce emissions from its fleet.Including the funds from Innovation Norway, the company plans to invest investing more than 300 MNOK ($33.73 million) in battery hybrid conversion projects. Solstad Offshore is planning for a 50% global fleet emission reduction by 2030, with eleven vessels planned to be upgraded over the next three years. The vessels will undergo battery hybrid conversions and will be able to connect to shore power in ports and harbors.

As the maritime industry settles in on a COVID-19 induced ‘new norm,’ and long-range planning is dramatically shortened,, Nick Brown, Marine and Offshore Director, Lloyd’s Register, said that while much deserved focus must be paid to the current crisis, the industry cannot lose sight of another one looming just as large: climate change. “We strongly maintain that the climate emergency is an event of the same magnitude, just with a different time domain to COVID-19," Brown told Maritime Reporter & Engineering News recently.

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 recent years.Forty-two percent of survey respondents say their primary motivation for investment in digital is to improve efficiency, while 55 percent say that their priority for technology investment will be focused around operational improvement.

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. They need to be confident that their technology investment will deliver a high return on capital and can lower the total cost of asset ownership.

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.

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.

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…

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. 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.

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.

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…

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.

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.

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.

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…

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…

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…

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.

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.

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.

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.

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.

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.

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.