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Ugo Salerno News

07 Nov 2023

RINA Appoints Carlo Luzzatto as Next CEO

Carlo Luzzatto courtesy of RINA

Carlo Luzzatto has been appointed as the future CEO and General Director of classification society RINA.The appointment is set to be formalized by the end of 2023, coinciding with Fondo Italiano d'Investimento's acquisition of a minority stake up to 33% in RINA S.p.A. This transition aligns with the joint growth objectives established with Fondo Italiano d'Investimento, reinforcing the Group's intention to make its stock market debut within the next 3-5 years.Ugo Salerno will continue to play an integral role in the running of the company…

19 Sep 2023

Maritime Industry Explores Nuclear Power for Ships as Technology Opens Up

For illustration - Sevmorput is a Russian nuclear-powered cargo ship, and, reportedly, the only such vessel in the world - Credit: Wikimedia Commons - CC0

The maritime industry is exploring whether nuclear fuel can be used to power commercial ships as advancements in technology open up such options, industry officials said. Nevertheless, any possible nuclear fuel solutions for ships are at least 10 years away, they added.Shipping accounts for nearly 3% of global CO2 emissions and the industry is under pressure from investors and environmentalists to find cleaner fuel solutions, which include ammonia, methanol, and wind. Nuclear energy has been used in the past to power military submarines and icebreakers…

26 Jul 2023

Fincantieri to Study Feasibility of SMR Technology in Shipping

Stefano Buono courtesy of newcleo

Fincantieri, reactor developer newcleo and class society RINA have agreed to carry out a feasibility study for nuclear applications to the shipping industry, including newcleo’s lead-cooled small modular reactors (SMRs) technology.The deployment of newcleo’s lead-cooled fast reactor (LFR) for naval propulsion would involve placing a closed mini reactor on vessels as a small nuclear battery producing a 30MW electric output. This would require infrequent refuelling (only once every 10-15 years)…

29 May 2023

RINA and Eni Set Sail on a Journey to Decarbonize Maritime Operations

Ugo Salerno, Chairman and CEO of RINA (left) and Giuseppe Ricci, Chief Operating Officer for Energy Evolution at Eni (right) Credit: Eni

RINA, an international company specializing in inspection, certification, and engineering consultancy, and Italian energy company Eni have signed an agreement to jointly develop initiatives that can contribute to the energy transition and decarbonization of their respective operations and particularly maritime transport.The agreement focuses on the use of HVO (Hydrogenated Vegetable Oil) biofuel produced by Eni in its Venice and Gela bio-refineries, as well as of other energy carriers such as “blue” or “green” hydrogen and ammonia from biogenic…

01 Apr 2022

RINA and Fincantieri Partner on Maritime Decarbonization

(Photo: Fincantieri)

Inspection, certification and consulting engineering multinational RINA said it is teaming up with shipbuilding group Fincantieri to develop synergies in the field of decarbonization, with a focus on alternative fuels, carbon capture and renewable energies in the shipping sector.Under their signed signed a memorandum of understanding, the two Italian firms will partner in initiatives related to technology scouting, the analysis, study and simulation of new fuels and energy vectors - in particular hydrogen and ammonia - and carbon capture.

01 Sep 2021

RINA Acquires Logimatic Solutions

(Photo: RINA)

RINA announced it has acquired the entire share capital of Denmark-based software company Logimatic Solutions, in line with Italian classification society’s plan to boost its digital solutions knowledge and offering.The company, with a turnover of about 6 million euros, will be fully integrated within the RINA Group, and its nearly 50 employees will continue in the current structure from its offices in Denmark, Singapore and Chile.For RINA, the move will add the SERTICA fleet management solution to the RINA portfolio of maritime offerings…

01 Jul 2019

CSSC Teams Up with RINA

Photo courtesy of RINA

RINA and China State Shipbuilding Corporation (CSSC) have signed a Strategic Cooperation Agreement for some of the activities related to passenger ships building. RINA will provide technical advice to CSSC in accordance with RINA’s experience and expertise.The agreement, which has been conceived during the recent visit to Italy of President Xi Jinping for the signing of the Belt and Road Initiative agreements, was signed by RINA’s CEO, Ugo Salerno and Mr.Lei Fanpei, Chairman of CSSC, in Beijing.

21 Jul 2016

RINA Closes Edif Group Acquisition

RINA S.p.A, the holding company of the multinational testing, inspection, certification and consulting engineering group based in Genoa, Italy, has announced that it has closed its acquisition of the entire share capital of Edif Group Limited for £118.5 million (around $156 million). High levels of synergy can be seen between Edif and RINA’s services, complementing and expanding RINA’s existing industry services and geographic network. This strategic acquisition also allows RINA to branch into new areas within its industries and geographies, providing an enhanced service offering to new and existing clients. This growth will provide extensive global coverage and strengthen RINA’s presence in key sectors, including defence, energy, transport, built environment and infrastructure.

25 Jan 2016

50 Students Selected by Italian Ship-Owners

Photo: Ingresso ITS Fondazione Caboto

23 letters of employment delivered to new graduates in the presence of the Institutions of the School. Eleven Italian shipping companies “christened” the courses at the I.T.S. Fondazione “G. Caboto” (Caboto Foundation), an Institute of Advanced Technology, addressed to 50 students who will be recruited and taken aboard their ships once having completed the two-year training period, during which they will already have the opportunity to sail the seas worldwide as part of their education.

14 May 2015

RINA: Energy, Marine Propel Growth

International testing, inspection, certification and consulting engineering group RINA reports it has grown strongly during 2014, propelled by an upturn in marine, acquisition in the energy sector and international diversification. Turnover for 2014 grew 13 percent to Euro 333 million. EBITDA (adjusted) grew to Euro 37.7 million. Ugo Salerno, Chairman and CEO of RINA S.p.A., said, “2014 was an important year for RINA. We were not only able to seize opportunities for new business around the world such as major development projects in Egypt and Turkmenistan, but we were also able to take advantage of signs of recovery in shipping and opportunities in energy.

09 Jun 2014

Marine Rebound Strengthens RINA Results

Ugo Salerno

International engineering, testing, certification and classification group RINA has reported improved results for 2013. Its performance was strengthened by an upturn in marine activities and a drive to improve efficiency and drive down costs. RINA turnover for 2013 increased 4% to €294 million, while EBITDA was up 6% to €37.2 million. Ugo Salerno, RINA Chairman and CEO said, “Returning confidence in the global marine markets and a new management team which took on their responsibilities with enthusiasm at all levels meant the group exceeded expectations in 2013.

17 Apr 2014

Intesa Sanpaolo, Vei Capital Invest in RINA

Photo courtesy RINA

Intesa Sanpaolo, through the Merchant Banking Management of its Corporate and Investment Banking Division, and VEI Capital, investment company of Palladio Finanziaria in the Private Equity Mid-Cap segment, have agreed to buy a stake in RINA S.p.A., parent company of the RINA Group, Italy’s E-TIC (Engineering, Testing, Inspection, Certification) service provider. The initial 25 million euros investment by Intesa Sanpaolo and VEI Capital, which will be underwritten by and shared equally between the two partners…

28 Jan 2014

RINA Acquires CSM Materials Technology Center

Growing Italian engineering, testing, inspection, certification and ship classification group RINA has bought the major shareholding in Italy’s leading center for innovation in materials technology, CSM. According to RINA, the move strengthens its expertise in specialized steel processes and products, especially for the energy sector and in innovative waste to energy conversion technologies. RINA CEO Ugo Salerno said, “Bringing CSM into RINA is part of our long-term growth strategy of developing and widening our specialist competence. CSM CEO Mauro Pontremoli said, “Joining RINA gives us the financial platform and market outreach we need to deliver our skills and knowledge globally.

01 Oct 2013

Wood Forever Pact: New Criteria for RINA Green Plus Yacht

Signing ceremony

A Monaco yacht show dedicated to the Green philosophy through numerous initiatives aimed at boosting environmental awareness in the world of pleasure craft. On Saturday 28 September, aboard the 55-meter Ocean Paradise built by Benetti shipyards, an event was held which left a notable green footprint on the decks of the super yachts: leading classification company RINA Services and the Prince Albert II of Monaco Foundation joined forces to promote the sustainable use of wood in the yachting industry.

09 May 2013

RINA and Drydocks World Team Up

Ugo Salerno (seated, left) signing the agreement with Drydocks World

The RINA Group has entered a framework agreement to supply certification and engineering services to UAE-based Drydocks World - Dubai (LLC). Under an MOU signed in Rome (Italy) today Drydocks World will draw on RINA Group's field of expertise to deliver assistance on project management and ship’s classification and certification for a number of projects including floating hotels, mega yachts, special project vessels, underwater units and warships. The MoU was signed in the presence of H.E. Ms. Datin Paduka Halimah Abdullah, Ambassador of Malaysia to Rome, Mr.

15 Apr 2013

Rina Announces Annual Results

The Board of Directors of Rina S.P.A approved the consolidated balance sheet for the period 2012: revenues of 280 million Euros (+23%) were achieved and the operating income reached 26.3 million Euros. The Board of Rina S.p.A. – holding company of the RINA Group – has approved the consolidated balance sheet for 2012 which confirmed the growth trend of recent years with revenues of 280 million Euros (+23% compared to 2011). For the first time, the balance sheet of Rina S.p.A. was…

01 Jun 2012

RINA Launches Management Shareholding Scheme

International classification society RINA has introduced a management shareholding scheme which will increase group capital by Euro 12 million and give managers across the group the opportunity to share in RINA’s growth. In the first tranche almost 50 per cent of the available shares have been taken up by 90 managers, who have paid Euro 6 million for 2,840 shares, around 5 per cent of the group capital. A further tranche of 3,000 shares will be released to staff over the next four years.

19 Apr 2012

RINA Acquisitions Fuel Growth

International verification, certification and ship classification group RINA continued to grow in 2011 as it embarked on an acquisition strategy. Turnover for 2011 was up to 249 million Euros (+21 per cent) and EBITDA 41 million Euros. Turnover is expected to rise to over 300 million Euros in 2012 following major acquisitions late in 2011. “Two-thousand and eleven was a memorable year for RINA,” said Chairman and CEO Ugo Salerno. “We celebrated our 150th anniversary by transforming the company.

18 Nov 2011

Acquisition Boosts RINA Development Services

 Ugo Salerno, CEO, RINA

Acquisition strongly boosts RINA offshore and port development services. By taking control of the D’Appolonia Group, a global engineering consultancy, international classification society RINA has increased its group turnover by almost 50 per cent and significantly strengthened its expertise and range of services in the offshore and port development fields. Says Ugo Salerno, CEO, RINA, “By bringing the D’Appolonia Group’s 580 multidisciplinary staff and Euro87m turnover into RINA we have made a quantum jump in size and capability.

10 Nov 2011

RINA Acquires D’Appolonia Engineering

Ugo Salerno, CEO of RINA

INTERNATIONAL classification society RINA has taken control of the D’Appolonia Group, a global engineering consultancy headquartered in Genoa. The acquisition of an 80 per cent holding in D’Appolonia SPA significantly strengthens RINA’s global engineering consultancy and takes RINA’s projected 2012 turnover to over Euro300m. The D’Appolonia Group, founded in the USA but headquartered in Genoa since 1981, delivers engineering competencies in the field of strategic consultancy, planning and design in various industrial sectors from a global network of offices.

16 Sep 2011

RINA celebrates ties with China

International certification, verification and ship classification company RINA is celebrating its ties with China on its 150th anniversary. It also took the opportunity to celebrate the ties between Italy and China on the 150th anniversary of Italian Unification. Formed in Genoa, Italy, in 1861 as a ship classification society, RINA is today a global multi-disciplinary and multi-cultural company with growing business in China and the surrounding region. Today in Shanghai RINA CEO Ugo Salerno and Vincenzo De Luca…

07 Jul 2011

U.S. Coast Guard Commissions RINA

Genoa-based classification society RINA has been authorized by the U.S. Coast Guard to conduct plan review and approval and initial and subsequent surveys for U.S.-flagged cargo and passenger vessels. Under the agreement signed yesterday, RINA has received delegation for Load Line, SOLAS, MARPOL, ISM, and Tonnage survey and certification services. The MOA delegating authority and establishing guidelines for co-operation between the USCG and RINA was signed at Coast Guard Headquarters in Washington yesterday, by Rear Admiral Paul F.

20 May 2009

RINA Continues Steady Growth

Italy-based classification-society RINA has reported continuing growth in both turnover and returns for 2008. Turnover for the 2008 year was $252.2m, up 17 per cent on 2007, and EBITDA was $41.2m, up 18 per cent on the 2007 financial year. Ugo Salerno, ceo of RINA said, "2008 was a year of careful scrutiny of our services and client base to ensure that we are doing the right things, for the world we live in, for our clients and for ourselves. It was also a year for consolidation and careful attention to detail within the group, to ensure that we are doing things right. We had to consolidate the companies acquired in 2007, control costs and work hard to get the right people with the right skills and the right management support into the right places around the world.