SunStone's Greg Mortimer Launched in China
The launching ceremony of the ‘Greg Mortimer’, the first polar expedition cruise vessel in SunStone Ships’ INFINITY series, was held in the morning of 12 March at the CMHI yard, China.The steel cutting ceremony of ship number three in the series was also arranged yesterday, said a press release from Ulstein Group ASA, Norway based ship designer.The cruise operator, Aurora Expeditions, has chartered the vessel, and named her after their founder, Greg Mortimer, who also attended yesterday’s launch ceremony.According to Xianpu Hu…
SunStone Orders Third Expedition Cruise Vessel at CMHI Yard
Miami-based SunStone Ships has declared option number two at CMHI shipyard after signing a long-term charter contract with Victory Cruise Line for the vessel, with a total of three newbuilds now under construction at the Chinese yard.A press release from the manager of passenger ships across the globe said that it originally placed one firm contract and nine options on Ulstein deliveries of expedition cruise vessel designs and equipment packages back in 2017.All ten vessels are part of SunStone Ships’ series of vessels in the ‘INFINITY-class’.
Ulstein Verft to Finalise Color Hybrid
The hull of the 'Color Hybrid', European cruiseferry line Color Line's next flag ship that will be servicing Sandefjord-Strömstad, has arrived Ulstein Verft for completion.The ship is contracted by Color Line at Ulstein Verft and is scheduled for delivery Q2 2019, said a press release from the largest cruiseferry line operating on routes to and from Norway.The ship presents an increased capacity on the line between Norway and Sweden. The 'Color Hybrid' is the world’s largest plug-in hybrid ship, measuring 160 metres in length, and with a capacity of 2,000 passengers and about 500 cars.
Keel Laid for National Geographic Polar Ship
Lindblad Expeditions Holdings, Inc., a global provider of expedition cruises and adventure travel experiences, and Ulstein Group, Norwegian shipbuilder and ship designer, celebrated the keel laying of Lindblad’s first polar new build. The keel laying at the CRIST shipyard in Gdynia, Poland, marked a milestone in the construction of the sophisticated expedition ship, and served as the official naming ceremony of the line’s latest addition to the Lindblad-National Geographic fleet.
Ulstein Group Records Operating Loss of $11.5M
In 2015, Ulstein Group recorded revenues of $279.4 million and an operating loss of $11.5 million. The business areas Design & Solutions and Power & Control both recorded profits. The downturn in the offshore sector and a tricky market has to be met with adaptation and innovation, according to CEO Gunvor Ulstein. ‘These are tough times. The group’s results for 2015 were weak as a result of lower utilization of capacity and the generally challenging market situation in our business areas. We believe 2016 will also be a challenging year.
Kristensen to Head Ulstein Design and Solutions
Eva Kristensen will take the helm as the new managing director at Ulstein Design and Solutions AS starting in January 2016. Kristensen will also enter into the role as COO for the Design & Solutions business area, and be one of the executives in the group management of Ulstein Group ASA. Kristensen joins Ulstein from GE Oil & Gas Nordics, where she was managing director for five years. Prior to this, she was managing director for two companies in the Aker system. Kristensen holds an MSc from the Norwegian University of Science and Technology (NTNU)…
Ulstein Implements Organizational Changes
Naming and organizational changes are underway in the Ulstein Group companies in the Netherlands. As of August 1, 2015, the ship design company Ulstein Sea of Solutions has been renamed Ulstein Design & Solutions BV (UDS BV), while the equipment company Ulstein Idea Equipment Solutions has been renamed Ulstein Equipment BV (UE BV). Edwin van Leeuwen and Gilbert Rezette enter positions as managing directors of the respective companies. Furthermore the holding company for the Ulstein…
Ulstein: Stronger Than a City
“Two brothers united are stronger than a city,” goes the biblical paraphrase. Surely, brother-sister tandems are also implied. According to local business records for Ulsteinvik — a swampy but beautiful corner of coastal Norway — Ulstein Group chief exec Gunvor Ulstein is tied to her chairman and deputy-CEO brother, Tore Ulstein, by 16 business entities. Strong ties on paper, to be sure, but this is no ordinary family enterprise. That’s because Ulstein has grown into a conglomerate comprising power and propulsion outfitting…
‘TWIN X-STERN’ – A Stern at Each End
Is a bow really a necessity for large ships? When the vessel’s main function is walk-to-work (W2W) services in the offshore renewable sector, a heightened sterncan operateeither way,thus facilitating on-siteDP positioning.This is the idea behind the TWIN X-STERN concept vessel from ULSTEIN, which also includes new thoughts on propulsion, bridge, gangways and cranes. “The exploitation of renewable energies will become increasingly important in the post-oil era. In the future, renewable energy farms within areas such as solar…
X-STERN Wins ‘Next Generation Ship Award’
The X-STERN solution from Ulstein was awarded the Next Generation Ship Award at the Nor-Shipping opening conference on June 2. Innovative ship design is the main criteria in the awarding of this prize. “Innovation is at the core of what we do, and we are truly delighted to receive this recognition,” comments Gunvor Ulstein, CEO of Ulstein Group. “The offshore industry is experiencing a downturn and eventually oil and gas supplies will come to an end. Tore Ulstein, Deputy CEO and Head of Market and Innovation…
The price of oil: everyone seems to be fixated on it. That’s because it also seemingly drives every aspect of the offshore energy business. This includes OSV day rates, rig utilization, shipbuilding and repair, and yes, manpower recruitment, retention and training. One year ago, the price of Brent Crude Oil was hovering at about $108 per barrel. At press time, the same commodity hovers at $60 per barrel. What a difference a year makes. Nowhere is that pain felt more acutely than in the human resources end of the business, where an estimated 120,000 professionals have gotten pink slips.
ULSTEIN Reports ‘Good Results’ for 2014
Ulstein Group said it achieved a “good result” for 2014, with an operating turnover of NOK 2.7 billion compared to 2013’s NOK 2.3 billion. Meanwhile, the group’s operating profit of NOK 184.1 million comes in under the NOK 317.8 million operating profit for 2013, while the 2014 operating result before tax of NOK 167.7 million is again lower than NOK 360.8 million for 2013. “We are pleased with last year’s figures. Today’s market is tough, and we are preparing for even harder times to come. There will be major demand for restructuring and change,” said CEO Gunvor Ulstein.
Ulstein Adds ‘X-STERN’ to its Design Portfolio
Ulstein Group introduced the X-STERN, a design feature increasing vessel operability through positive effects on station keeping, wave response, comfort and safety in harsh conditions. An X-STERN vessel can stay on position in harsh weather with the stern towards waves, wind and current. For vessels where the best possible motion characteristics are vital, positioning the X-STERN towards the weather instead of the bow will be the captain’s natural choice. The X-STERN leads to reduced pitch and wave drift forces, as well as eliminating slamming.
Rapp Marine Hires Vatnehol as CEO
Helge Vatnehol has been appointed Group CEO of Rapp Marine. Vatnehol comes from the position of Senior Vice President Offshore Deck Machinery in Rolls Royce and takes over on September 1, 2014. “The companies in the winch division of former Rapp Marine Group have been collected within Rapp Marine Group. We are delighted that Helge Vatnehol has accepted the challenge to lead the group,” said Board Chairman of Rapp Marine, Olav Fjell. Vatnehol joined Rolls-Royce in 2000. He is currently Managing Director and board member of its Norwegian branch Rolls-Royce Marine AS.
Vatnehol Named CEO at Rapp Marine
Helge Vatnehol has been appointed Group CEO of Rapp Marine. Vatnehol comes from the position of Senior Vice President Offshore Deck Machinery in Rolls Royce and takes over on September 1, 2014. Helge Vatnehol joined Rolls-Royce in 2000 and is currently Managing Director and board member of its Norwegian branch Rolls-Royce Marine AS. Helge is Sivilingeniør (MSc) from NTNU, the Norwegian University of technology and Science, and has held senior leadership positions in Engineering…
Ulstein Reports Improved 2013 Results
Ulstein Group reported it delivered a good result for 2013 with an operating income of NOK 2.3 billion compared to 2012’s result of NOK 2.27 billion. Similarly, Ulstein’s operating profits improved in 2013 to NOK 317.8 million from NOK 228 million in 2012. The group’s operating result before tax was NOK 360.8 million, compared to NOK 211.4 million in 2012. Ulstein said it currently has more than 40 vessels in order, of which six to be built at its own yard, while the rest are being built at several shipyards worldwide. At the end of 2013, Ulstein Group had an order reserve of NOK 2.6 billion.
Ulstein Enters Oceangoing Tug Market
Ulstein has sold design and equipment packages for four ocean going tugs to Niigata Shipbuilding & Repair in Japan. The vessels will be built for the Dutch company ALP Maritime Services. The vessels are primarily designed for towing of large structures over long distances. This is a new market for Ulstein and the contract represents so far the highest value in one single contract for Ulstein Design & Solutions. The vessels of the SX157 design are developed especially for this project in close collaboration with ALP.
Nordic American Offshore Appoints CEO
Nordic American Offshore Ltd. (NAO) announced that Tor-Øyvind Bjørkli will join the company as chief executive officer (CEO), effective April 1, 2014. Tor-Øyvind will be working from out of the Oslo office on the same premises as Orion Tankers; the chartering department of Nordic American Tankers Limited (NAT). A subsidiary of Nordic American Tankers is the manager of the recently established Nordic American Offshore Ltd. (NAO). Tor-Øyvind graduated from Vestfold University College with a Bachelor of Science degree in Marine Engineering in 1992.
NAT Drops 10%
Nordic American Tanker (NAT) opened this morning on the stock exchange down more than 10% (Down $0.85 to $8.025/share in late morning trading) after saying it has priced a 8.13 million public offering at $8 per share, an almost 10% discount to Thursday's closing price. The company has granted the underwriters a 30-day option to purchase up to an additional 1,218,750 common shares. In making the offring announcment, the tanker company said CEO Herbjoern Hansson is expected to buy 250,000 shares in the offering at the same terms as other investors.
Ulstein Group Awarded Academic's Union Gold
Norway's Tekna (Technical and Scientific Association) awards its gold medal to Ulstein Group for creating opportunities in technology. Gunvor Ulstein, CEO of Ulstein Group, received Tekna’s Gold Medal at a recent ceremony. The medal is given as an honour and encouragement to Norwegian managers or companies for outstanding efforts in creating new opportunities for Norwegian technologists, both in Norway and internationally. It was last awarded in 2008. Gunvor Ulstein thanked Tekna by sharing the honour with all employees in Ulstein: “Together with all our talented employees…
Offshore Marriage of Interests Judged Successful
Nor-Shipping 2013 'Agenda Offshore' hear the Director General of the Norwegian Shipowners’ Association pronounce the marriage of maritime and offshore oil and gas industries interests a success. The offshore industry is “a legitimate child” of the marriage between oil and gas as well as maritime companies. “It is maybe a relationship driven more by cooperation and innovation than by love or passion – a bit of an arranged marriage maybe – but today the offspring of this relationship are the specialized vessels…
Ulstein Delivers Fourth PSV in PX121 Series
Ulstein Verft delivered Blue Thunder, the fourth of six medium-sized platform supply vessels of the PX121 design from Ulsteinto Blue Ship Invest, on Monday, May 13, 2013. Owned by Blue Ship Invest, a wholly-owned company in Ulstein Group, the platform supply vessel (PSV) is commercially and technically under the management of Atlantic Offshore. Blue Thunder will enter a four-month contract with Statoil, with four monthly options. “This ship also enters into a contract for work in the North Sea…
Ulstein Reports Good 2012 Financial Result
Ulstein Group report an operating income of NOK 2.27 billion and an operating profit of NOK 228 million in their 2012 financial report. “We deliver a good result in a demanding market thanks to our competent and hardworking employees and an organisation that provide for execution and delivery precision. The good collaboration we have with our customers and suppliers creates good and future-oriented solutions. The result will allow us to develop further, so that we can continue to develop innovative product and services to the maritime market,” says CEO of Ulstein Group, Gunvor Ulstein.
Norway's Future Engineers Visit Ulstein Yard
College students from three different schools in the Ålesund region of Norway make familiarisation programme visit to Ulstein Group. The students are participants in the “Motivational course”, a cooperation between ULSTEIN, STX OSV, Rolls-Royce Marine and NCE Maritime, whose purpose is to motivate youths for engineering studies. The Motivational Course has been arranged for 13 years, and results show that about 50% of the participants later choose to become engineers. For four days…
PSV Delivered by Ulstein Verft
Ulstein delivers second PX121 Platform Supply Vessel (PSV) 'Blue Prosper' to Blue Ship Invest. “This project has flowed really well, and we’ve been able to draw on the experiences we made when building the first vessel in this series, ‘Blue Fighter’, says Karsten Sævik, Managing Director of Ulstein Verft. “The vessels were ordered based on market trends showing a future increase in demand for this type of PSV. ‘Blue Prosper’ will enter the North Sea spot market under the management of Remøy Shipping…
Offshore 'Fail-Safe' PSV Design by Ulstein Under Construction
Ulstein Group joined forces with GC Rieber Shipping to provide a ship that refuses to accept failure, thanks to pioneering ‘operation+’ philosophy. GC Rieber Shipping, the Norway-based harsh environment shipping specialist, has charged Ulstein with developing a high-capacity subsea vessel based on its SX121 design. This NOK 800 million ship, ordered in June 2012, alongside an option for a sister vessel, has been commissioned in response to strong market desire for offshore construction support vessels (CSVs) for deep and harsh environments.