Fincantieri Buys 50% STX France
The Italian shipbuilder Fincantieri signed Friday an agreement to buy 50% of the share capital of France's STX Shipyard, for 59.7 million euros. This takeover is part of the agreement in principle reached in September between France and Italy, which put an end to months of tension between the two countries. "The signing takes place after the resolution of the share purchase agreement previously signed between Fincantieri and STX Europe on May 19, 2017 as a consequence of the exercise…
DP World Chairman meets French President at Investment Summit
DP World Group Chairman and CEO HE Sultan Ahmed bin Sulayem recently met the President of France, Francois Hollande and senior government and business leaders at a major investment summit at the Élysée Palace in Paris. France’s attractiveness as an investment location and DP World’s projects in the country were highlights of the discussions which also covered infrastructure development, port centric development, distribution and export hubs, rail freight, customs, and other logistics topics.
DP World Eyes France
France is an attractive investment location for DP World’s projects related to infrastructure development, port centric development, distribution and export hubs, rail freight, customs, and other logistics topics, said DP World Group Chairman and CEO Sultan Ahmed bin Sulayem. He has recently met the President of France, Francois Hollande and senior government and business leaders at a major investment summit at the Élysée Palace in Paris. Bin Sulayem outlined DP World's contribution to global trade…
EDF Offers Long-term LNG Regas Capacity at Dunkirk Terminal
Electricite de France (EDF) has offered up to three billion cubic metres of annual regasification capacity at the Dunkirk liquefied natural gas (LNG) import terminal for 18 years from Jan. 1, 2019, it said in a market notice. The terminal's remaining 10 bcm/year capacity has already been booked by shippers, EDF said. Long-term capacity is offered on a ship-or-pay basis. Subscribers will acquire firm rights to slots, LNG storage and send-out capacity, as well as the ability to re-load imported LNG for onward export.
Fincantieri the Sole Bidder for STX France
Italian shipbuilding and construction group Fincantieri SpA is the only bidder for shipping group STX France, a source close to the matter said on Tuesday. The sale of STX France, which specialises in building cruise ships in the western France city of Saint-Nazaire and is profitable, forms part of the broader sale of businesses from the collapsed STX shipbuilding group. A spokesman for a Korean court overseeing the process had said earlier on Tuesday that one bid had been received for the STX France business, without giving a name.
MSC Ships Get Bigger
MSC Cruises, the 4th largest cruise line, confirmed the existing STX France options to build an additional two ships in the Meraviglia class. The ships, valued by MSC at $1.7 billion, will be longer and bigger versions of the Meraviglia-class ship, which is scheduled to begin with the 167,600-gross-ton MSC Meraviglia in 2017. MSC now has four firm orders on the books from STX France, plus another three ships at Fincantieri. Furthermore, the two new next-generation ships known as Meraviglia-Plus will feature increased tonnage and overall size…
Strike In France: Implications for Tanker Demand
After the oil industry suffered from a severe drought in Venezuela, forest fires in Canada and rebel attacks on oil installations in Nigeria, it is now facing the consequences of a national strike in France, where members of the trade union CGT have organized strikes at the country’s refineries and blocked oil terminals and fuel depots, says the Tanker Research & Consulting department at Poten & Partners. The situation seems to be worsening as more unions join the CGT and clashes break out between protestors and the police.
STX Europe, MSC Cruise LOI for Newbuild
STX Europe’s subsidiary, STX France SA and MSC Cruise has signed a letter of intent for the construction of a new large cruise ship at its St. Nazaire shipyard in France to be delivered in mid - 2012. The new cruise ship will be a sister ship of MSC Fantasia and MSC Splendida, which were delivered from STX France's St. Nazaire shipyard in December 2008 and July 2009, respectively. The new vessel will be the 9th cruise ship built in St. Nazaire for MSC Cruises. The new cruise ship will have a length of 1,082.6 ft and a size of about 140,000 GT.
Russian Shipyard Cuts First Metal for Mistral-class Warship
Baltic Shipyard cuts metal for the hull of first Mistral-class amphibious assault ship for construction in France. Russia and France signed a US$1.2-billion contract on two French-built Mistral class ships, including the transfer of sensitive technology, in June 2011. Under the contract, STX France will carry out the final assembly of the hulls from 24 blocks produced in Russia. STX France handed over in July the first batch of technical documentation on the Mistral project to Russian subcontractor Admiralty Shipyards.
STX Europe Company Update
STX France has recently experienced cost overruns mainly related to one of its cruise vessels under construction at its St Nazaire shipyard. The cost overrun could represent a negative deviation up to $20.3m – 27.1m, but every possible effort is being made to limit such cost overrun. The physical construction of the vessel is however in good progress, and the vessel is expected to be delivered on-time and to the client's full satisfaction. STX France has a solid working capital position, and the funding of such cost overrun will be managed from the existing working capital in STX France.
Ince & Co Advises EDF on NYK LNG Carrier
EDF LNG Shipping, a subsidiary of EDF group, signed a long term charter contract with the Japanese shipowner NYK on January 26th 2018. The vessel, with a capacity of 174,000 cbm, will be built by the shipyard Hyundai Heavy Industries with delivery expected by spring 2020. Ince & Co supported EDF LNG Shipping in the negotiation and drafting of the time charter contract providing for an initial charter period of seven years which can be further extended to twenty years. This major…
NavCad 2011 Has New Features
New features for the industry-standard resistance and propulsion software. HydroComp NavCad is a software tool for the prediction and analysis of vessel speed and power performance. It also provides for the selection of suitable propulsion system components – engines, gears and propellers. HydroComp has been working since late 2009 on the development of a new architecture for NavCad, and improvements to the interface. This new platform was developed with an eye to the future, and will provide a new structure for future development.
Milestone Reached in Take-over Cruise Ship Construction
At the STX shipyard in Saint-Nazaire, France, two commemorative coins are welded to 'MSC Preziosa’s' mast radar, to mark a construction milestone. Earlier this year, following the termination of the agreement with the original owner, MSC Cruises signed a contract to take over the 140,000-ton cruise ship. Renamed MSC Preziosa, she will be the 13th addition to the MSC Cruises’ fleet, as well as the fourth ship in the series of Fantasia class ships. MSC Preziosa is 1,092 feet long, 124 feet wide, and weighs 140,000 gt and the 4,345-guest luxury cruise ship will have a speed of 23 knots.
China Merchants Holdings Complete Terminal Link Deal
China Merchants Holdings (International) announce completed acquisition of a 49% stake in container port operators Terminal Link from CMA CGM. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates," reflects the recognition and consent to the transaction from the governments from whose regulatory units consents and approvals were obtained. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates…
Technip to Modernize Flexi France
Technip announces an investment over four years to modernize its flexible pipe manufacturing plant, Flexi France, in Le Trait, France. Further strengthening Technip’s expertise and industrial capabilities at the site will reinforce its global position in the production of flexible pipes, for the development of offshore oil and gas fields. This modernization plan focuses on the installation of new-generation machines and site optimization to fit 12 meter diameter reels, on which flexible pipes are spooled.
Areva Cutting as many as 6,000 Global Jobs
Loss-making French state-controlled nuclear group Areva plans to axe as many as 6,000 jobs, about 14 percent of its headcount, as it seeks to reduce labour costs by about 15 percent in France and 18 percent in total internationally. "We expect 3,000 to 4,000 job cuts in France and 5,000 to 6,000 globally, but more towards 6,000," Francois Nogue, human resources director for the group, said on Thursday. The job cuts in France will be part of the global headcount reduction, which the company hopes to complete by the end of 2017.
Bureau Veritas Selects New Offshore Lead
Bureau Veritas has appointed Matthieu de Tugny as Senior Vice President in charge of offshore activities within the marine and offshore operating group. He is tasked with driving forward Bureau Veritas Group initiatives in the oil and gas offshore market and enhancing Bureau Veritas’ technical leadership and recognition in this market. Matthieu de Tugny graduated from the Ecole Nationale de la Marine Marchande, France and from the Ecole Supérieure d'Electricité, France as an engineer. He started his career at Bureau Veritas in 1994 in the Electricity and Automation Section.
STX France Gets Contracts for Europa 2
STX France received an order to build a luxury cruise ship, the EUROPA 2. The new ship is being acquired by a third-party proprietary company outside the TUI group at the French STX shipyard and will enter service in 2013. The vessel, that will complement the EUROPA in the fleet of German cruise operator Hapag Lloyd-Cruises, will be designed and built according to latest international regulations and delivered in 2013. For STX France this new contract represents about 2.5 million working hours. Construction will start in September 2011.
This Day in Navy History
1800 - U.S. concludes treaty of peace with France, ending Quasi War with France. 1944 - USS Nautilus (SS-168) lands supplies and evacuates some people from Panay, Philipppine Islands. 1946 - U.S. Government announces that U.S. Navy units would be permanently stationed in the Mediterranean to carry out American policy and diplomacy. 1958 - Marines leave Lebanon.
CMA CGM to Resume Service to Iran
The world's third-largest container shipping group, France's CMA CGM, said on Monday it would resume operations to Iran following the deal between Tehran and world powers over the Middle Eastern country's nuclear program. "Following the recent positive developments involving Iran and the P5+1 Group - comprising the U.S., China, France, the UK, Germany and Russia - and with the conclusion of the joint comprehensive plan of action, CMA CGM Group has decided to resume service to Iran starting (at the) beginning August 2015," it said in an email.
ClassNK Opens Survey Office in France
Classification society ClassNK has opened its new Nantes Office in western France, with operations commencing June 1, 2016. With survey offices already established in Dunkerque and Marseille, ClassNK’s newest location marks its third exclusive survey office in France.
Mistral Deal - A Storm Brewing at Sea
While France is seeking a way to cancel its contract to deliver two helicopter carriers to the Russian navy, Russia wants 1.163 billion euros ($1.32 billion) from France in compensation for nixing the deal. President Francois Hollande is under pressure from Western allies to scrap the deal because of Moscow’s role in the Ukraine crisis. France has offered Russia its terms to scrap a contentious contract to supply two warships that was suspended due to the Ukraine crisis, but Moscow judged the sum as unacceptable.
GAC Yacht Team Wins in France, Now Faces Bermuda Challenge
GAC Pindar skipper Ian Williams & team arrive for the Argo Group Gold Cup after winning in Match Race France. After a spectacular conclusion to the Match Race France last weekend, which saw the GAC Pindar skipper battle the elements against young Kiwi William Tiller (Full Metal Jacket Racing), Williams and his winning crew were in high spirits as they landed on the island of Bermuda. The Argo Group Gold Cup is the world’s oldest Match Racing event involving International one-design yachts.
Offshore Wind Power Europe: Areva & STX France Ally Expertise
The companies agree to jointly make wind turbine and foundation offers on major European projects. AREVA will bring its expertise in design and production of wind turbines and STX France its know-how in specialized offshore foundations, with a view to strengthen competitiveness of offshore wind power in a European market that should see its installed base reach around 40,000 MW by 2020. STX France would, in addition to designing the foundations, be responsible for complete or partial manufacture of the structures.
French Nuclear Plants in New Mystery Drone Overflights
Unidentified drones illegally overflew five French nuclear power plants overnight, a source with knowledge of the matter said on Saturday, in the latest of a series of unexplained incidents that have raised safety concerns. The small unmanned aircraft were detected late on Friday above the five plants in northern and eastern France, the source said, confirming an earlier report by Agence France-Presse. State-controlled utility EDF, which operates the plants at Penly, Flamanville…
Technip Certified to EDGE Standard
Technip and EDGE Certified Foundation announce today that Technip in Brazil, in France and in Italy, including flexible pipe manufacturing plants in Brazil and France and Group’s headquarters, have been certified to the EDGE (Economic Dividends for Gender Equality) global standard for gender equality in the workplace. EDGE is the leading global assessment methodology and business certification standard for gender equality applicable across all industries and countries. This independent certification…