Thrustmaster Takes a Majority Stake in Blue Thruster
Thrustmaster Holdings B.V., affiliated with US-based Thrustmaster of Texas Inc., has acquired a 58,5% stake in Blue Thruster, a Dutch-based maritime innovations company.With this transaction, Thrustmaster, a leading supplier of thrusters, gains access to two innovative patents developed by Blue Thruster. These patents relate to the so-called V-pod concept, which is a highly innovative concept configuring an azimuth thruster with an integrated permanent magnet motor.With this transaction, Thrustmaster further expands its product portfolio. and its global footprint.
The Modern Approach to NOx Reduction
ADNOX A/S, the R&D start-up in which Hans Jensen Lubricators A/S recently acquired the majority stake, has released details of their Advanced Diesel NOx reduction method, “ADNOX”. The ADNOX System is a SCR system using diesel oil as reductant offering more than 80% NOx reduction. The oil injected is converted to heat, leaving 50% more heat for recovery. No need for storage tanks for the reductant. No extra overall costs of reductant. The waste heat can be recovered for production or electricity. Significant reduction of weight and space saving, leaving more cargo space.
GP Global Acquires MAG Lube
GP Global (Formerly Gulf Petrochem Group) today announced that it has completed its acquisition of MAG Lube LLC in the United Arab Emirates. MAG Lube LLC is a manufacturer of lubricants in the Middle East, distributing its full range of lubricants in more than 40 countries across the Middle East, Africa and Asia. GP Global has acquired a majority stake of MAG Lube LLC, a company valued at close to $75m, in a global lubricants market said to reach $166.23bn by 2025 according to Grand View Research, expanding at a 3.8% CAGR during the forecast period.
Volvo Penta Debuts New Diesel Engine and IPS
Ever since the global financial meltdown of 2008 briefly crippled the world leisure boat market, Volvo Penta adopted a strategy to increase its commercial market share with its family of innovative propulsion systems and controls. Last week off the west coast of Sweden, Maritime Reporter & Engineering News got up close and personal with the new D8 diesel and IPS15 pod, as well as the full range of command and control products courtesy of a day of test drives at Krossholmen, Volvo Penta’s Global Marine Testing Center.
Volvo Penta Acquires Majority Stake in Humphree
Volvo Penta has signed an agreement to become the major shareholder of marine technology provider Humphree. The transaction is subject to conditions and expected to close within four weeks. Having a majority share in Humphree will further accelerate the next step in Volvo Penta’s journey to become a full marine system supplier, the company said, adding it will also gain the ability to extend its range of boat dynamics solutions with new trim and stabilization functions; and Humphree…
Yara Acquires Majority Stake in Green Tech Marine
Yara International will expand its emissions control business by acquiring a majority 63% stake in Green Tech Marine (GTM), a sulphur oxide (SOX) scrubber supplier to the marine industry. “New International Maritime Organization (IMO) regulations are being implemented, and combining GTM with our existing Nitrogen Oxide (NOX) portfolio will help the maritime industry cleanse their emissions and be compliant,” said Yves Bonte, Senior Vice President and head of Yara’s Industrial Segment.
STX OSV Becomes VARD
Shipbuilders & designers STX OSV adopt new brand name following sale of STX Europe’s majority stake in the company to Fincantieri Oil & Gas. Chief Executive Officer and Executive Director of VARD, Roy Reite, said, “I am excited to announce that VARD will be our new name. It conveys a sense of stability and strength, relevance and flexibility. More importantly, it reflects our long-standing Norwegian heritage, as well as our leading position within the offshore and specialized vessels industry globally.