Upstream Cuts 208 deals worth $156Bn in 2019
Upstream companies cut 208 deals worth $156 billion in 2019, with value up $26 billion year-on-year. However, the number of transactions was 40 percent below the five-year trend, pointed out latest report by Deloitte.That, combined with the fact that the Oxy/Anadarko transaction comprised more than a third of the total value, meant that 2019 proved sluggish, reflecting the overall weakness in the oil and gas sector.In fact, there were only $5.8 billion in deals in Q1, the lowest value seen in any quarter in more than a decade.
Chembulk Tankers Announces Leadership Changes
Chembulk Tankers announced on Wednseday that Bart B. Kelleher has taken over as Chief Executive Officer for David Ellis, who has resigned for personal reasons. Ellis will be available to the company through January 31, 2020.Kelleher has held senior executive roles within Chembulk since joining the company in early 2016, initially as Chief Strategy Officer and then Chief Financial Officer in early 2019. Prior to joining Chembulk, Kelleher was the Chief Operating Officer for Principal Maritime Management and held roles in investment banking…
Neptun Werft Lays Keel for AIDAcosma
The first building-block for AIDA Cruises’ second LNG-fueled cruise ship was put in place at the Neptun Werft shipyard in Rostock, Germany.The two trainees, Charleen Hoffmann (AIDA Cruises) and Kenny Schaft (Meyer Werft shipyard) placed the traditional lucky coin beneath the first of a total of 90 blocks.On the occasion of the keel-laying, the name of the new ship and its first routing were announced: the ship will be named AIDAcosma, and will be cruising from Kiel to the Norwegian…
Roxtec received the 2019 Sweden’s Best Managed Companies recognition, sponsored by Deloitte in cooperation with Nasdaq. Mikael Helmerson, CEO of Roxtec, sees the award as an acknowledgement of the company’s determined improvement work.Best Managed Companies is a quality award to recognize the overall success of private Swedish companies based on strategic direction, ability to execute, corporate culture and financial performance. The program was established in Canada in 1993 and…
Port of Oakland Names Haggerty as Chief Audit Officer
A longtime Santa Clara County audit and accounting manager becomes the Port of Oakland’s Chief Audit Officer next month. The Board of Port Commissioners said it has appointed Rebecca Haggerty to its top auditing post.Currently the Internal Audit Manager for Santa Clara County, Haggerty will direct operational and financial audits for all Port offices. She’ll report to the Port Board. She succeeds Acting Chief Audit Officer Katherine Buckley who returns to her role as a Port Audit Manager.Haggerty joined Santa Clara County in 1997, holding various accounting and auditing roles.
TNPA Appoints Business Development Officer
Transnet National Ports Authority (TNPA) has appointed Linda Seroka as its Business Development Officer, effective September 18.Seroka’s role will be to explore and unlock growth opportunities for TNPA and its clients in the fields of commercial and marketing, strategy, property and facilities management.An experienced professional with more than 17 years of practice in developing and executing strategies to grow businesses, Seroka most recently served as an Associate Director at Deloitte Consulting…
OOCL Bags 2018 Singapore Environmental Achievement Award
Orient Overseas Container Line (OOCL) has received the 2018 Singapore Environmental Achievement Award (Regional) at a ceremony held by the Singapore Environment Council’s (SEC) recently.The SEAA (Regional) Award category recognizes local or international companies and organizations with outstanding environmental performance in Asia, and this year, the regional scope has been expanded to welcome companies from Greater China, Japan, South Korea, and ASEAN countries to take part in the awards scheme.In the review and evaluation process…
New CEO Sketches Port of Newcastle Expansion Plans
The new CEO of the Port of Newcastle, Craig Carmody, committed the Port of Newcastle to developing a world-class container terminal to boost jobs and business opportunities in the Hunter region and dramatically reduce the number of trucks on Sydney's roads through expanded use of Newcastle's rail connectivity."The potential for a container terminal in Newcastle to diversify and grow the NSW economy is far bigger than the NSW government seems to realise. We are already exploring…
Darling, Parker join Tidewater
Tidewater has strengthened its management team with the appointments of David Darling as VP and Chief Human Resources Officer and Mark Parker as Vice President, Corporate Taxation. Darling joins Tidewater with over 24 years of domestic and international human resources experience, most recently as Senior Vice President and Chief Human Resources Officer for Gulfmark Offshore, Inc., where he was the Human Resource Director since 2007. Prior to Gulfmark, he served in executive human resources roles with Rigdon Marine and a subsidiary of Ford Motor Company.
Port Tech, Info Sharing Discussed
A group of leading ports from around the globe wrapped up a two-day meeting in Los Angeles this week as part of a maritime collaboration called chainPORT, a global initiative established in 2015 to digitally connect ports worldwide and boost efficiency within the global maritime supply chain. The chainPORT initiative is led by the Ports of Los Angeles and Hamburg Port Authority in Germany, in collaboration with the Global Institute of Logistics. Other ports participating in the third annual meeting are Shanghai, Antwerp, Barcelona, Montreal, Felixstowe, Indonesia and Shenzhen.
Cautious optimism returns to North Sea – Deloitte
Reacting to the latest Oil and Gas UK Economic Report, to be published on Wednesday 6 September, Graham Hollis, Senior Partner for Deloitte in Aberdeen, said: “A cautious optimism has returned to the industry, as it weathers the storm of the past three years. “Nevertheless, challenges still remain for the North Sea and its recovery needs to be carefully fostered. The report shows there are a potential £40 billion worth of developments in companies’ business plans – it’s up to all of those involved in the industry to help these come to fruition…
Peel Ports Appoints Schaap as Container Director
Peel Ports has appointed APM Terminals’ Jouke Schaap to head up its entire container operations. The position has been created to drive commercial opportunities focussed on the company’s network of terminals and port-centric logistics facilities. Most recently Head of Commercial for Maasvlakte 2 container terminal in Rotterdam, Jouke has overall responsibility for Peel Ports’ container businesses in Liverpool, Dublin and the Manchester Ship Canal. He took up his position in May. Peel Ports’ container terminals handled over 980,000 TEU in 2015, representing over 9% of the UK and Irish market.
Valletta Declaration on EU Shipping Strategy
European Transport Ministers adopted Wednesday afternoon a ministerial declaration on maritime transport. The declaration outlines priorities for the EU's maritime transport policy, focusing on competitiveness, digitalisation and decarbonisation. The so-called 'Valletta Declaration' was agreed at the end of a two-day ministerial stakeholder conference organised by the Maltese Presidency of the EU. European Community Shipowners’ Associations (ECSA) President Niels Smedegaard congratulated…
EU Shipping Needs Stronger Global Orientation -Study
The EU has an overall competitive regime in place for fiscal and social measures as well as quality registers and a strong skills base. This combination supports the current status of the EU as an attractive location for shipping activities. To develop further growth in European shipping, the EU however needs to adapt this framework into a comprehensive, globally oriented shipping policy that aims to improve the EU’s competitiveness as a location for international shipping. That…
DMA Cutting Back Special Rules for Danish Shippers
A benchmark analysis shows that Denmark has 33 special requirements for ships flying the Danish flag, a number which the Danish Maritime Authority (DMA) seeks to scale back as it aims to create a more favorable environment for shippers. “Denmark is characterized by quality shipping and Deloitte’s benchmark analysis confirms that Denmark is a good place to conduct maritime business,” said DMA Director General Andreas Nordseth. “We have been alleviating burdens for a long time and we have already abolished four of the 33 special requirements identified in the analysis.
Northern Powerhouse Partnership Meet at Liverpool
Peel Ports has hosted the inaugural meeting of the Northern Powerhouse partnership at the Port of Liverpool today (8 December). The initiative is creating a new network to help grow the Northern economy and aims to champion the area’s strengths and promote local developments. Topics at the first meeting included transport and connectivity, the government’s industrial strategy, quality of life improvements and how partners can work together to support the Northern Powerhouse programme.
Happy Holidays from Hanjin
Barry Parker dissects one the most disruptive events ever to impact the intermodal supply chain. There is more pain to come, lessons to be learned – and corrections applied. The Hanjin Shipping debacle, brewing over time and seeing a full blown eruption in late August, is still ongoing. The company voluntarily opted to enter ‘receivership,’ followed by a Chapter 15 bankruptcy filing in the States, shortly after the initial bombshell. The move provided a template for Hanjin vessels to dock, and cargo to be discharged.
Peeters to Leave Barco; Desender Appointed as New CFO
Barco has announced the departure of its Chief Financial Officer, Carl Peeters, who has decided to pursue a new professional opportunity. Ann Desender, currently Vice President Finance & Control will succeed Carl as CFO for Barco. This change will become effective as of September 2016. Ann Desender joined Barco in 2008 and has been leading Barco’s global finance team since 2010. Prior to joining Barco she held management positions as Corporate Director of Finance & Reporting at Unilin and was a Senior Audit Manager at Arthur Andersen and Deloitte.
HCI Capital Acquires Ernst Russ GmbH
HCI Capital AG acquires the long-established Hamburg shipping company Ernst Russ GmbH & Co. KG. The HCI Group, which early in 2016 already the majority of the shares of König & Cie. Group had taken, thus expanding again the controlled fleet and strengthen its maritime services division. This HCI consistently pursued the strategic positioning as an asset and investment manager with a maritime focus. The Ernst Russ GmbH & Co. KG is one of the oldest, internationally known Hamburg shipping companies and has existed since 1893.
Struggling U.S. O&G Companies Eye Rare Financing Deals
Some cash-strapped U.S. oil and gas companies are considering creating an unusual layer of debt as a way of surviving the rout in oil and gas prices, according to restructuring advisors. Chesapeake Energy Corp for example is considering the strategy to swap some of its roughly $9 billion debt. Severely distressed companies may issue so-called 1.5 lien debt, sandwiched between the first and second liens, to raise new capital. Investors with a stomach for risk would get a better yield than for the top debt, and have a stronger claim than junior creditors if the company filed for bankruptcy.
Royal HaskoningDHV appoints two Directors
Royal HaskoningDHV has appointed new Corporate Directors for Human Resource Management and Corporate Strategy. Cindy Meervis (40), joining from AkzoNobel, will further develop the global HR strategy in support of building a performance and client driven culture. She succeeds Kees Lekkerkerker who will retire on 1 April 2016. Royal HaskoningDHV is thankful for his contributions in building the HR team. In her previous role as HR Director Vehicle Refinishes at AkzoNobel, Cindy led a global HR team that supported a business-wide reorganisation aimed at enhancing client focus and reducing cost.
India Fosters Growth in its Maritime Sector
The Indian government’s has been going all out to put the growth of the Indian maritime Industry on a fast track by opening up a host of opportunities, offering goodies and putting in place new facilities. Setting the tone for his keynote address at the 9th Biennial International Conference on Ports, Shipping & Logistics organized by the Bombay Chamber of Commerce & Industry at the Taj Mahal Hotel, Mumbai, Nitin Gadkari, Union Ministry of Road Transport, Highways and Shipping…
BMT Group Implements Internal Reorganization
BMT Group (BMT), an international design, engineering and risk management consultancy, has announced an internal reorganization which will see the existing BMT operating companies grouped into five market focused partnerships in a move that aims to enhance services and improve efficiencies across the business. These partnerships will be headed by new leaders who will come into post over the next three months. Jan van Smirren, who will lead the Energy Partnership, will join BMT in its Houston office, having worked for the past 25 years for Fugro Inc. and Fugro GEOS.
Johnson Joins NYK Ports
NYK Ports LLC announced that Brian Johnson will be joining the company as Director of Business Development, effective September 21, 2015. Johnson began his career as Environmental Coordinator for Metropolitan Stevedoring Company in 1998. He left the industry in 2000 to earn an MBA at the University of Chicago. In 2002, Johnson served as a Consultant for Deloitte and Touche. He subsequently served as Senior IT Strategist and later as Director of Business Solutions for New Century Financial.
NorSea Group Adds UK Finance Director
NorSea Group (UK) Ltd has appointed Karen Russell as its first UK Finance Director. Russell becomes the third addition to the group’s executive team as the company continues to grow its activity across Scotland in both the decommissioning and subsea support sectors. She joins MD Walter Robertson and Operations Director Mike Munro in the new team leading the company’s expansion in the UK. Russell has more than 13 years’ experience in the oil and gas industry. She began her accountancy training with Deloitte and Touche…
Nagata to Lead Relocated Yanmar HQ
Yanmar has announced far-reaching strategic changes to its marine recreational engine business. In a double break with traditional Japanese business practices, Yanmar Marine International commenced the relocation of its marine recreational engine business headquarters from Osaka to Almere in the Netherlands and recruited Shiori Nagata as its first president, with effect from January 1 this year. Almere, about 40km to the east of Amsterdam, has been home to Yanmar Europe BV since 1988…