Wärtsilä Names Håkan Agnevall as President and CEO
Finland-based marine engine and technology provider Wärtsilä has appointed Håkan Agnevall as its next president and CEO.Agnevall, who currently president of Volvo's bus division, will start in his role no later than in April 2021, succeeding Jaakko Eskola, who will continue with the company as a senior advisor and executive until he retires on June 30, 2021, after 22 years with the group.Agnevall has been with the Volvo Group since 2013. In the decade prior to that he held various leadership positions in Bombardier and in ABB…
Reinauer Group Ramps Up for the Business of Offshore Wind
The promise of a vibrant U.S. offshore wind business has been long in the making. While questions remain on timing and pace, there is renewed confidence in the offshore wind sector, particularly in the northeast United States (global pandemic notwithstanding). Investment in the sector had escalated to start 2020, embodied best by Reinauer Group and its WindServe Marine unit, which when combined with its Senesco Marine boatbuilding and logistics hub give its an ‘ A-to-Z, soup-to-nuts’ enviable position to build…
Wärtsilä Reports 45% Fall in Q1 Profit
Finland's Wärtsilä on Tuesday missed expectations with a 45% drop in quarterly profit hurt by the coronavirus outbreak, sending its shares down more than 6%, despite order intake at the ship technology and power plant maker falling less than expected.CEO Jaakko Eskola said demand in the first quarter had remained reasonable given the market conditions but among Wärtsilä's clients the cruise ship segment had been severely affected and several energy project sites had been demobilized."In the energy markets, deteriorating macroeconomic conditions and the anticipated decrease in electricity consu
World’s First: Wärtsilä Hybrid Propulsion for Bulkers
The technology solutions provider for the marine and energy markets Wärtsilä has been selected to provide the complete system design and full equipment scope for two new 9300 DWT self-discharging bulk carriers featuring hybrid propulsion.The Finnish corporation announced that the ships will be the first of their kind to be fitted with a hybrid propulsion solution. They are being built for Norway’s Aasen Shipping at the Royal Bodewes shipyard in the Netherlands. The yard has also designed the vessels.
Wärtsilä Bags New Orders for Aquarius UV BWMS
Finnish technology giant in the marine and energy markets Wärtsilä Oyj announced that it has recently been awarded a number of contracts to supply its Aquarius UV Ballast Water Management System (BWMS) to global shipping operators.According to the provider of smart technologies and complete lifecycle solutions, the systems will enable the vessels to be compliant with the Ballast Water Management Convention regulations that entered into force in September 2017 for all new build vessels.The contracts cover in total 13 systems…
Wärtsilä Reorganizes Into Marine and Energy Units
Finnish based technology group Wärtsilä announced plans to reorganize into two business areas, Wärtsilä Marine Business and Wärtsilä Energy Business, covering both new sales and services for the respective markets.The new organizational structure will be operational as of January 1, 2019.Jaakko Eskola, President & CEO, said, “Developing stronger partnerships with our customers and providing them with greater value is essential for reaching our long-term target of profitable growth.
Wärtsilä is Building a Tech Hub in Vaasa
Wärtsilä is building a new center of research, product development and production, in Vaskiluoto, Vaasa. As of 2020, all of Wärtsilä's functions and personnel in central Vaasa will transfer to the new Smart Technology Hub, along with the logistics and maintenance workshop operations from Runsor.As a part of the project, Wärtsilä will invest 83 million euros in modern testing and production technology for the hub. The total investment in the Smart Technology Hub will be in the region of 200 million euros…
North Carolina Ferries Change Course for the Future
Shoaling shifts NCDOT’s propulsion needs, prompting a sea change. Thrustmaster waterjets step in to carry the day. In Swansboro, N.C., boatbuilder U.S. Workboats (formerly Armstrong Marine) is assembling the linchpin of the North Carolina Department of Transport’s (NCDOT) business plan for its future Outer Banks ferry services. Separately, in both Hatteras and Ocracoke, crews are preparing to break ground on new parking additions and visitor facilities. The Ocracoke Express passenger…
Interview: Chia Yoo Soon, Chevron Marine Lubricants
OK. Full disclosure. We spent more than ‘five minutes’ on the phone with Chia Yoo Soon, General Manager, Finished Lubricants – Marine, Chevron Marine Lubricants. But given that we are based in New York and he is based in Singapore, the time difference mandated an efficient conversation for both. Without overstating the obvious, ship owners are under tremendous pressures. A relentless regulatory hammer continues to pound out new and ever stricter environmental and emission rules, while at the same time many sectors are in the midst of a historic and prolonged slump.
ENGIE, Wärtsilä to Develop Small Scale LNG Markets
ENGIE has signed a Memorandum of Understanding (MoU) with Wärtsilä, a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets to develop solutions and services in the small scale LNG business. The cooperation covers four work streams: LNG for ships, LNG distribution in islands and remote areas, LNG to Power solutions and small scale LNG and bio liquefaction. Both ENGIE and Wärtsilä are committed to work for a low-carbon economy and shifting from coal or diesel towards LNG-solutions is an important step in the right direction.
Finland's Wartsila Sticks to 2016 Outlook
Finnish ship engine and power plant maker Wartsila reported weaker-than-expected quarterly profit and order intake on Wednesday. Wartsila cited tight competition in the energy markets and overcapacity of ships. However, the company repeated its full-year profitability outlook, surprising analysts. Second-quarter adjusted earnings before interest and tax (EBIT) was 122 million euros ($134.4 million) versus forecast of 138 million euros in Reuters poll. Wartsila expects 2016 net sales to increase by 0-5 percent and profitability to be 12.5-13.0 percent.
Wärtsilä Yuchai J/V Inaugurate Marine Engine Factory
The Wärtsilä Corporation & Yuchai Marine Power Co., Ltd., Joint Venture (J/V) has inaugurated its new factory in Doumen District, Zhuhai City, Guangdong Province, China. The new factory covers a total area of 266,700 square meters and will be used for the assembly and testing of Wärtsilä 20, Wärtsilä 26 and Wärtsilä 32 medium speed engines. The assembly lines and test beds are in partial operation already, and the plant is expected to be in full production before the end of 2016. Wärtsilä and Yuchai Marine Power Co. Ltd.
Good Profitability Noted in Wärtsilä H1 Interim Report
Wärtsilä and China State Shipbuilding Corporation announced the establishment of a joint venture, which will take over Wärtsilä's two-stroke engine business. Going forward, the two-stroke engine business will be reported as discontinued operations. Wärtsilä and China State Shipbuilding Corporation announced the establishment of a joint venture for manufacturing medium and large bore medium-speed diesel and dual-fuel engines. Wärtsilä estimates its profitability for 2014 (EBIT% before non-recurring items) to be around 11.5%, due to the two-stroke business transaction.
LNG America & Liquiline Join Hands in Marine Fuel Market
LNG America and Liquiline announce an agreement to jointly develop commercial offerings for LNG marine fuel markets in the North American Pacific Northwest and the transport of LNG in ISO containers to remote markets in Hawaii and Alaska. The parties to the agreement explain that each brings unique skills and experience to the joint initiative: Liquiline has pioneered the use of LNG ISO containers for LNG fuel markets in Northern Europe; LNG America is developing LNG distribution networks including America’s first Jones Act LNG bunker/shuttle vessels.
Wärtsilä Executive Elected EUGINE President
Wärtsilä Corporation inform that Kari Hietanen, Executive Vice President at Wärtsilä Corporation, has been appointed President of the European Engine Power Plants Association (EUGINE). This is a newly established association of European manufacturers of engine power plants. Wärtsilä explains that there are 14 founding corporate members in the association, which acts as the voice of the industry in regulatory and policy matters relating to energy. The objective of EUGINE is to accelerate the acceptance of engine power plant technology as an essential and value adding energy source in Europe.
Corvus Energy Systems Get More Scandline Hybrid Ferry Orders
Corvus Energy informs it has again been selected as the Energy Storage System (ESS) of choice by Scandlines for their next three hybrid ferries. Based on successful operation of Scandline’s first hybrid, the 'MF Prinsesse Benedikte', the next 3 hybrids will use a 2.7MWh ESS consisting of Corvus Energy AT6500 advanced lithium polymer batteries integrated with Siemens drive systems. Corvus add that the ferries M/V Deutschland, M/V Schleswig-Holstein and M/V Prins Richard, in operation…
Tru-Marine Houston Joined by Isaac Yohanan
Maritime turbocharger services provider Tru-Marine Group say that Mr. Isaac Yohanan has joined as a General Manager and Director of Tru-Marine Houston LLC. The company inform that Mr. Yohanan will be responsible for Tru-Marine's business and service operation in the US and the Americas focusing on its rapidly expanding presence in the marine and off-shore energy markets in North, South and Central America offering scheduled overhauls, reconditioning and repair services for marine turbochargers.
Ship Power: Out of the Past Comes Wärtsilä's Engine of the Future
Although the well-known Finnish company Wärtsilä has a very long history, it was founded in 1834, the diesel engine era begins when the company signs a license agreement with Friedrich Krupp Germania Werft AG in Germany. The first diesel engine sees the light of day in Turku in November 1942. From there on Wärtsilä passed a number of rapid expansions in all fields of products. Some of the products stayed and some disappeared. The concentration of being a full solution provider for the maritime industry started in the early 2000’s after lots of talks with potential customers worldwide.