Thursday, May 28, 2020

Energy Markets News

Photo: Courtesy Senesco

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…

(Image: Wärtsilä)

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

The self-discharging bulk carriers being built for Aasen Shipping will be the first of their kind to operate with hybrid propulsion. Copyright Aasen Shipping.

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.

The Wärtsilä Aquarius UV Ballast Water Management System. Image: Wärtsilä Marine

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…

(Photo: Wärtsilä)

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.

(Image: Wärtsilä)

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…

Credit: NCDOT

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…

Chia Yoo Soon, General Manager, Finished Lubricants – Marine, Chevron Marine Lubricants (Photo: Chevron Marine Lubricants)

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.

File Image: a Wartsila built marine engine (Wartsila)

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.

The new factory: Rendering courtesy of Wärtsilä Yuchai Engine Co

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.

Wärtsilä 46DF Engine: Image courtesy of the manufacturers

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 ship bunering in Europe: File photo

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.

Kari Hietanen: Photo Wärtsilä

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.

MF Prinsesse Benedikte: Image courtesy of Scandlines

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…

Image courtesy of Tru-Marine

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.

The new two-stroke gas engine design was developed within Wärtsilä’s global R&D function. The design was carried out jointly at Winterthur, Switzerland and Vaasa, Finland. The Wärtsilä engine laboratory located in Trieste in Italy was the site for test installation as it has gas supplies.

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.

Samsung LNG Carriers Powered, Propelled by GE

Liquefied natural gas (LNG) is one of the fastest growing energy markets worldwide, and global production capacity could be more than double by the end of the decade. Higher natural gas prices and growing efficiencies in the LNG value chain are making it economically attractive to ship LNG over long distances, transforming natural gas from a regional to a global market. GE’s Power Conversion business is working closely together as a partner with the Power & Control Systems division (PCSD) of Samsung Heavy Industries (SHI).