Connect with us

Container Shipping Lines

Maersk to acquire for Maersk Training of the Norwegian company, ResQ

Published

on

Maersk to acquire for Maersk Training of the Norwegian company, ResQ. Image: Maersk
Maersk to acquire for Maersk Training of the Norwegian company, ResQ. Image: Maersk
Listen to the story (FreightComms AudioPost)

 

A.P. Moller – Maersk announces the intended acquisition for its subsidiary Maersk Training of the Norwegian company, ResQ, a leading supplier of services and expertise in safety training and emergency preparedness in Norway.

ResQ has five survival centres located strategically in Norway to cater for training in the North Sea and offers more than 70 course titles, while the crisis management part consists of a full emergency response setup, which can be fully customised to the customer’s needs and handle all aspects of an emergency. ResQ has 67 permanent employees and over 300 temporary resources spread across the country.

“ResQ is a well-managed business with renowned competencies within training services. As part of Maersk Training’s ambitions to become a leading training provider with end-to-end services across the North Sea region, we regard ResQ as a perfect fit, as it will significantly increase our presence in Norway and increase our portfolio of training courses.” said David Skov, CEO of Maersk Training.

Maersk Training and ResQ have a close relationship today with ResQ being the largest third-party service provider for Maersk Training in Norway. Since 2019, ResQ has been a subcontractor of Maersk Training delivering services to support the Maersk Training’s global training management contracts.

“We are looking very much forward to becoming part of Maersk Training and believe combining our businesses will significantly strengthen our value proposition to customers. Together we can provide a full end-to-end offering and further evolve our crisis management services to digital platforms which will allow us to expand to other industries as well as to international customers.” said Njål Arne Vathne, CEO of ResQ.

Norway is a key hub for training services due to exposure to oil and gas and maritime segments in the North Sea and consequently Norway is a core market for many of Maersk Training´s global customers. Today, the majority of the customer base comes from the oil and gas industry and the general maritime industry, but Maersk Training is looking into other attractive sectors, including offshore renewable energy and financial services.

“There is a growing potential serving the offshore renewable energy industry in the North Sea which is constantly evolving, not least with the recent North Sea Summit in Esbjerg where it was agreed to target 65 Gigawatt installed before 2030 and 150 Gigawatt installed by 2050. Also, new advancements in technology will allow for larger wind farms to be built further offshore that use bigger and more powerful turbines than current models.” added David Skov, CEO of Maersk Training.

Within offshore renewable energy industry, the introduction of more and more new energy technologies such as floating wind, hybrid platforms, tidal energy lagoons and energy storage offer a wide range of future potentials. These advancements are pushing to reach set energy targets in order to tackle the issues of energy demand and security, reducing CO2 emissions and climate change, and will require new procedures for customers on safety training, emergency preparedness and operational performance planning. The acquisition of ResQ will provide a platform which will allow Maersk Training to service the offshore renewables industry in Norway.

The enterprise value of the transaction on a post IFRS 16 basis is approximately USD 26m (pre-IFS16 enterprise value of c. USD 14m) reflecting a pre-synergy EBITDA multiple of 5.3x based on adjusted 2021 EBITDA. Completion of the acquisition is subject to regulatory review and approval.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Container Shipping Lines

“K” Line enters into long term time charter contracts with QatarEnergy

Published

on

"K" Line enters into long term time charter contracts with QatarEnergy. Image: Unsplash
"K" Line enters into long term time charter contracts with QatarEnergy. Image: Unsplash
Listen to the story (FreightComms AudioPost)

 

Kawasaki Kisen Kaisha, Ltd. has announced that the execution of seven long term Time Charter contracts through joint venture companies with QatarEnergy.

The joint venture companies have concurrently executed Shipbuilding contracts for 174,000m3 LNG carriers with Hyundai Heavy Industries Co., Ltd. QatarEnergy is one of the world’s largest LNG producers and will allocate the newbuilding vessels to transport LNG around the world.

The newbuilding vessels will be equipped with X-DF 2.1 iCER and Air Lubrication System which will contribute to reduction of GHG emissions and realize the ease of environmental impact by lower fuel consumption in operation. Since the delivery of “Bishu Maru” in 1983 as the first Japanese LNG carrier, “K” Line has been establishing expertise on LNG transportation and developing its worldwide network for
nearly 40 years.

X-DF 2.1 iCER is a low speed dual-fuel engine with gas at low pressure. Air Lubrication System is technology to curb the resistance between the ship’s hull and seawater by generating air bubbles on the ship’s bottom.

“K” LINE and QatarEnergy have had long-term relationship through several existing projects. The new contracts have been executed as a successful result of supervision of vessel’s construction with abundant experience, the high-quality ship management, and the highest
level of safe and commercially optimized operation.

In our Medium-Term Management Plan published in May 2022, “K” LINE has placed LNG business as one of the top priority areas in the future investment. “K” LINE will further expand long-term contracts and accommodate growing energy demands by responding to various customers’ needs.

Main Particulars of the Vessel

Shipyard: Hyundai Heavy Industries Co., Ltd.
Delivery: From 2025 through 2026
LOA: About 299m
Beam: 46.4m
Tank Capacity: 174,000m3
Propulsion System: X-DF
Speed: 19.5knt

Continue Reading

Container Shipping Lines

Yang Ming to add ‘YM Throne’ – a new 11,000 TEU container vessel

Published

on

Yang Ming to add 'YM Throne' - a new 11,000 TEU container vessel. Image: Unsplash
Yang Ming to add 'YM Throne' - a new 11,000 TEU container vessel. Image: Unsplash
Listen to the story (FreightComms AudioPost)

 

Yang Ming Marine Transport Corp. will add one more new 11,000 TEU container vessel, ‘YM Throne’. The vessel is chartered from Shoei Kisen Kaisha, Ltd. and built by Imabari Shipbuilding Co., Ltd. The naming ceremony of YM Throne took place at Imabari Hiroshima Shipyard. Yang Ming’s attendees joined the ceremony remotely at their Taipei office.

To further strengthen Yang Ming’s mid- to long-term operational efficiency, the company ordered a total of fourteen 11,000 TEU newbuildings through long-term charter agreements with ship owners. YM Throne is the thirteenth in the series and will be delivered in late August. This type of vessels has a nominal capacity of 11,860 TEU and is equipped with 1,000 plugs for reefer containers. With a length of 333.9 meters, a width of 48.4 meters, a draft of 16 meters, these vessels are designed to cruise at a speed up to 23 knots. The containerships incorporate various environmental features including scrubbers, Water Ballast Treatment Plant and Alternative Marine Power system.

This type of vessels adopts the twin-island design to increase loading capacity and navigational visibility to ensure more efficiency and safety. The ship hull form optimization will further increase energy saving, reduce overall emissions and increase fleet diversity. In addition, the ships are designed with shorter length and beam, which makes them easier to maneuver during berthing or departure. The new dimensions enable these ships to call at major ports worldwide and pass through the new Panama Canal with no restriction, and facilitate greater flexibility in vessel deployment.

Yang Ming started taking delivery of these new vessels from 2020. These additions can lower the average age of Yang Ming’s global fleet, reduce unit cost and achieve energy efficiency. In addition, these newbuildings will help the company to proactively cope with the challenges faced by the fast-changing shipping industry. YM Throne will be deployed on Yang Ming’s Trans-Pacific service PN3 after delivery. The new vessel will not only meet customer needs but also maximize capacity utilization. The joining of YM Throne will significantly enhance the competitiveness of Yang Ming’s global fleet and service network.

The port rotation for the 1st voyage of YM Throne in PN3 is Hong Kong – Yantian – Shanghai – Pusan – Vancouver – Tokyo – Kobe – Pusan – Kaohsiung – Hong Kong.

Continue Reading

Container Shipping Lines

MOL to equip bulk carrier with the “Wind Challenger” hard sail system

Published

on

By

MOL to equip bulk carrier with the "Wind Challenger" hard sail system. Image: MOL
MOL to equip bulk carrier with the "Wind Challenger" hard sail system. Image: MOL
Listen to the story (FreightComms AudioPost)

 

Mitsui O.S.K. Lines, Ltd. announced its intent to equip a second bulk carrier with the “Wind Challenger” hard sail system, which harnesses the power of wind to propel the vessel. MOL Group company MOL Drybulk Ltd. will operate the vessel, which will transport wood pellets for Enviva Inc., the world’s leading producer of sustainable wood bioenergy, and has signed a construction contract for the new ship with Oshima Shipbuilding Co., Ltd. The vessel, slated for delivery in 2024, will be the second Wind Challenger-equipped vessel in the MOL Group fleet, following one scheduled to enter services in October of this year.

MOL group is also examining the feasibility of adopting “Rotor Sails,” an auxiliary wind propulsion system developed by Anemoi Marine Technologies Ltd, of the U.K. Combined use of both the Wind Challenger and Rotor Sails is expected to reduce greenhouse gas emissions by an average of 20%.

For years, Enviva and MOL have engaged in discussions to improve the efficiency of marine transportation through a contract for the shipping of wood pellets in Atlantic waters. In recent years, there has been a need to reduce the environmental impact of the entire supply chain. As we entered into a partnership in March 2021 with the aim of realizing an environmentally friendly bulk carrier, we have been considering the introduction of energy-saving technology and this is a culmination of our studies so far.

MOL Group clearly states that the group will make a concerted effort to achieve net zero GHG emissions by 2050, under “MOL Group Environmental Vision 2.1.” It will further push forward adoption of energy-saving technologies using wind such as the Wind Challenger and Rotor Sails, to help reduce GHG emissions and realize a low- and de-carbonized society.

Continue Reading

Popular

Copyright © 2017-18 | FreightComms | Made with ♥ in Singapore