NOVEMBER 11, 2015—Global engineering, technical and business services organization, Lloyd’s Register (LR), has announced the appointment of Mary Waldner as Group CFO. Waldner is currently Group Finance Director at FTSE 250 listed
Under the terms of the agreement, affiliates of Algoma and CSL will each acquire two vessels and Marbulk Shipping Limited, a company jointly owned by both Algoma and CSL, will acquire one vessel.
The transaction values the five vessels at $190 million in total.
The agreement is subject to technical due diligence on each vessel.
The subjects are likely to be lifted in December 2015, with a completion of the transaction in first quarter 2016.
The transaction will lead to an estimated accounting gain of approximately $30 million for KSH.
Klaveness CEO Torvald Lasse Kristoffersen says the deal “will free up significant investment capacity that we can use to realize projects we have been working on.”
The five vessels are the 49,463 dwt, 2002 built, MV Barkald; the 48,184 dwt, 2002 built MV Balder; the 75,569 dwt,1981 built MV Baldock; and the 71,900 dwt, 2013 built MV Balto and MV Balchen
Now standalone business segments, they were previously embedded in other company business units.
Leading the new business units are industry veterans Mike Golonka, vice president, government services, and Wendy MacDonald, vice president, global ship management.
The Government Services provides bundled vessel management solutions for the United States Maritime Administration, Military Sealift Command, and other agencies; custodial services for vessels seized by U.S. Government agencies; naval architecture and marine engineering services; project management and salvage and dive operations; and many other services. The team combines the technical and professional capabilities of the company’s owned and managed fleets, under the direction of a team of tenured professionals, many of whom are mariners, to bring together best-in-class operations, engineering and contracting personnel.
The Global Ship Management group – which includes international partnership Crowley Accord and Seattle-based subsidiary Maritime Management Services, Inc. (MMS) – provides technical services and crew management as well as a broad range of back-office services to a variety of conventional vessel types such as tankers, container and general cargo, and Roll-on/Roll-off (Ro/Ro) vessels; along with specialized vessels such as deep-water pipe-layers, geotechnical and seismic research vessels; and offshore construction support vessels. With offices in the U.S., Mumbai, Goa, Hong Kong and Amsterdam, Crowley’s global ship management group, including Crowley Accord, manages over 60 vessels in the U.S. domestic and international markets. The company has developed longstanding working relationships with vendors, suppliers and major foreign and domestic labor organizations, allowing them to provide professional management services, with an emphasis on Crowley’s No. 1 core value, safety. The policies and procedures reflected in every aspect of Crowley’s management system are based on recognized ISO and ISM standards to ensure regulatory compliance.
“Establishing these two new business groups will help Crowley focus its services for its distinct customer bases,” said Crowley’s Todd Busch, senior vice president and general manager, technical services. “Crowley offers both industries extensive experience, a reputation for working safely and honestly, and relationships that matter. Customers can expect all of that to continue, with the added benefit of more targeted and improved customer service.”
Leading the Government Services group is Mike Golonka, who previously served as vice president, ship management. He will continue reporting to Mr. Busch, and remain based in the company’s headquarters in Jacksonville, FL. He and his team will develop and synchronize government services offerings across the Crowley portfolio and will further align the group with government contracting requirements, including time keeping, cost accounting and compliance with Federal Acquisition Requirement (FAR) clauses.
“Mike did a great job building the ship management business and establishing Crowley as a serious competitor for government contracts,” said Mr. Busch. “He has shown the commitment to the business and represents the company as a respected professional. This is represented in the recent award of the TAGOS / TAGM and ROCON contracts from Military Sealift Command, both very important contracts from the U.S. Government.”
Mr. Golonka, who graduated from Calhoon MEBA Engineering School and holds an unlimited chief engineer license, joined Crowley in 1987 and has served as senior port engineer, manager of ship operations, director of engineering and director of contract operations prior to his appointment to general manager in 2009. In that role, he coordinated all sales, marketing and operations activities for Crowley’s ship management group and its growing number of customers and vessels served. In 2011, he was awarded the company’s highest honor, the Thomas Crowley trophy, given to employees who have aligned themselves closely with Crowley’s values and displayed outstanding performance along with dedication, leadership, initiative and productivity. .
Ms. MacDonald, now leading the Global Ship Management group, is the former vice president of procurement. She remains based in Jacksonville and also reports to Mr. Busch. She is responsible for all sales, marketing, engineering and operations activities for Crowley’s commercial ship management group and its growing number of customers and vessels. She will also oversee the activities for Marine Management Services and Crowley-Accord Ship Management, based in India.
“Wendy’s operational experience, organizational skills and management will be a great benefit to the ship management group,” Mr. Busch said. “She has done an excellent job building teams, and partnering with our vendors. Wendy has supported the business for several years, so she understands much of the business needs and the customer expectations. In her 20-plus years with the company, she has shown a drive and passion for the maritime industry, which has led to her successes.”
Ms.MacDonald, who has a California Maritime Academy bachelor’s degree in business administration with a focus on marine transportation and intermodalism, joined Crowley in 1992 as a management trainee and has held various positions of increasing responsibility within the company’s container shipping organization, including manager of freight services for the Puerto Rico/Caribbean services group, manager of pricing for the Latin America services group, director of inland operations and most recently vice president of procurement.
NOVEMBER 9, 2015— The tragic October 1 loss of the El Faro means that TOTE Maritime is having to delay the planned conversion of the first of two “built for Alaska” 839
The contract with Wärtsilä was placed in September. The Wärtsilä equipment is scheduled for delivery in 2016 and the vessel is due to be delivered in February 2017.
When delivered, the ship will be operated on a long-term charter by Skangass, the leading player in the Nordic and Finnish LNG markets. Sirius Veder Gas AB, the owner of the new vessel, is a joint venture formed by Sirius Rederi of Sweden and the Netherlands based Anthony Veder Group.
The Wärtsilä propulsion package will comprise a 6-cylinder Wärtsilä 34DF dual-fuel main engine capable of running on either LNG or diesel, a reduction gearbox with power take-off (PTO), a shaft line suitable for use with environmentally friendly lubricants and equipped with a Wärtsilä Airguard aft seal that allows zero emissions, and a Wärtsilä controllable pitch propeller.
The latest Wärtsilä 34DF engine version features high power output and reduced fuel consumption in both gas and diesel modes. In gas mode, the vessel will comply with the IMO’s Tier III NOx emission regulations without need of secondary exhaust cleaning systems.
“We are committed to developing energy-efficient solutions for small to mid-size LNG shipping. The use of LNG as a marine fuel is rapidly increasing and there is growing demand for efficient bunker and feeder vessels. Wärtsilä has both the technology and the experience necessary to meet the needs of this market,” says Jan Valkier, CEO of Anthony Veder.
“Since Wärtsilä introduced dual-fuel engine technology, more than 1,300 Wärtsilä DF engines have been ordered. Similarly, bunkering and feeder vessels such as this one are also increasingly taking advantage of our proven technology. This extensive experience adds tremendous value as it allows us to provide expert engineering and project support to the shipyard, which importantly saves time and reduces risk,” says Göran Österdahl, General Manager, Wärtsilä Marine Solutions .
Singapore-based Neptune Orient Lines Limited (NOL) issued a statement on November 7 confirming that it is in “preliminary discussions with CMA CGM SA and A.P. Moeller-Maersk A/S with respect to a potential acquisition of NOL.”
Speculation that NOL, whose principle operating entity is APL, has been seeking a suitor has been rising since it announced a third quarter loss of $96 million, compared to a net loss of $23 million in third quarter 2014.
“NOL has a duty to assess all options to maximize shareholder value and improve its competitiveness,” said the November 7 statement. “From time to time, NOL enters into discussions on possible combinations involving NOL, while remaining focused on returning its core liner business to sustainable growth and profitability.”
It promised that “NOL will make an appropriate announcement in the event that there are any material developments” and advised shareholders investors to “exercise caution when dealing in shares in and other securities of NOL.”
The Maersk Group delivered a profit of $778 million (compared with $1.5 billion in the third quarter of last year) negatively impacted by the lower oil price and lower average container freight rates, down 51% and 19% respectively compared to the same period last year. The return on invested capital (ROIC) was 7.6% (12.7%).
The underlying profit was $662 million ($1.3 billion) with lower profits in Maersk Line, Maersk Oil and APM Terminals and improved result for Maersk Drilling, while APM Shipping Services was on par with Q3 last year.
Group CEO Nils S. Andersen said the decline of nearly 50 percent in underlying profit compared to last year was primarily due to container freight rates deteriorating to a historically low level, especially in the later part of Q3, and profits in Maersk Oil being impacted by the lower oil price.
“The expected underlying result of around $3.4 billion for 2015 reflects good performance in very challenging oil and container shipping markets, where the continuous actions taken in all our business units to reduce the cost base will enable us to maintain our ability to pursue the opportunities arising in our industries,” says Mr. Andersen.
The Shipowners’ Limitation of Liability Act sets a formula for the amount at which total claims can be capped and yesterday, Judge Schlesinger ordered the vessel’s insurer, Steamship Mutual Underwriting Association Limited, to pay into court $15.3 million as surety for that amount, calculated as the value of the vessel (which is now zero), pending freight which is $2,072,703.50, and $420 per gross registered ton funds ($13,236,300) for death claims.
He also ordered that all claims in relation to the case must be filed in the U.S. District Court for the Middle District of Florida by December 21, 2015 and that any other actions “be hereby restrained, stayed, and enjoined until the hearing and determination of this action.”
A footnote to the ruling said, in part, “The Court notes the rarity of issuing an injunction when the Court has only heard from one side of a case. The admiralty rules are unique and call for such a situation.”
Read Judge Schlesinger’s order HERE
Providing a 360 viewing field, the AlphaBridge incorporates a number of unique and sophisticated functions, presented on three ultra sharp displays in a fully integrated package.
Detection and identification are key demands to be met by patrol vessels.The patrol vessel has a state of the art tactical navigation and observation system onboard allowing target motion analysis, intelligence and target alarms to enable quick response to emergency situations.
The vessel can share intelligence with the shore based surveillance center using a secure voice link via VHF and MF/HF and data through a VSAT communications line.
The multiple solutions and capabilities of the AlphaBridge are supported by specialized WECDIS functions, presented on large displays in an easy to use format.
AEU is the program administrator for American Longshore Mutual Association (ALMA), a group mutual association which is authorized by the U.S. Department of Labor to provide USL&H coverage in all 50 states.
AEU is a member of the SCA based on its longstanding support of the U.S. shipbuilding and repair industry.
“This is a high visibility position in the industry and within the SCA where the Committee represents the 88 Industry Partner members of the SCA disseminating information about SCA activities to the Industry Partners, responding to their concerns, and representing them to the overall SCA Board of Directors,” said AEU’s Jack Martone, one of the founding members of the SCA Industry Partner’s Committee in 2012.