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Study Highlights Need To Reconsider Fixed Sea-Margin

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A study published by Norbert Bulten, Product Performance Manager at Wärtsilä, has demonstrated that “there is more in life than the straight-sailing, calm water condition.”

The research was carried out within the EU-funded CHEK project and involved full-scale CFD simulations that focused on the impact of rudder steering and vessel motion.

The study compared a gate rudder concept to a conventional semi-spade rudder for a Kamsarmax bulker.

Typically, a rudder is placed behind the propeller, where the movable part can be a part (semi-spade) or the complete rudder section (full-spade). The rudder profile sections can be pre-aligned with the incoming flow (twisted leading edge) or straight.

In contrast, the concept of a gate rudder has two symmetrical rudder parts located on either side of the propeller where the downstream, accelerated flow does not directly interact with the rudder. The rudder sections instead target a stagnation point of the flow close to the outer-side of the rudder leading edge. This creates a low-pressure region on the inner side of the gate rudder, which creates a net-thrust force. While both rudder parts are positioned at the same steering angle, their effect is…

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RSC Bio Solutions Launches FUTERRA Compressor Oils

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RSC Bio Solutions launched FUTERRA Compressor Oils, synthetic lubricants designed to meet the performance demands of industrial and marine sectors while addressing sustainability needs.

FUTERRA Compressor Oil is formulated with a synthetic, sustainable base oil, offering outstanding thermal stability, long service intervals, and inherent biodegradability. This product is tailored to rotary screw, reciprocating, and other high-performance air compressors in applications where reliability and environmental compliance are critical.

FUTERRA Compressor Oil provides a solution for industries that operate in environmentally sensitive areas, such as offshore energy, marine vessels, and heavy-duty industrial sites. This lubricant helps companies meet environmental regulations while optimizing equipment performance, extending service life, and reducing operational costs. By using renewable base oils, it contributes to decarbonization efforts in high-demand sectors.

“FUTERRA sets a new standard for compressor oils,” said Mike Guggenheimer, President & CEO at RSC Bio Solutions. “Customers no longer need to compromise between performance and sustainability. With FUTERRA, we are empowering marine and industrial businesses to enhance operational efficiency and…

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Conrad Shipyard Delivers First YRBM Vessel To The US

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Conrad Shipyard announced it has delivered the first Yard, Repair, Berthing, Messing (YRBM) vessel to the U.S. Navy. The delivery took place at Conrad’s shipyard in Amelia, La., where the final inspection by key Navy officials took place.

This YRBM vessel, the first in its class, was designed and constructed by Conrad Shipyard, featuring a new and innovative design tailored to meet the U.S. Navy’s operational needs. The vessel recently completed its acceptance trials during the challenging conditions of Hurricane Francine.

The delivered YRBM is part of a larger contract with seven more vessels currently under construction. On Wednesday, Navy officials visited Conrad’s shipyard in Amelia where construction is taking place and participated in a ceremonial hull plate signing to commemorate the construction of YRBM 61 and YRBM 62.

RADM Kevin Smith expressed that the Navy is “really excited to recognize Conrad as a new member of the navy shipbuilding team and their outstanding performance on YRBM 57; a much-needed berthing barge which will greatly improve Sailor Quality of Service.”

The vessel will be stationed at its initial homeport in Japan, where it will serve to enhance naval operations in the region.

Johnny Conrad, CEO of Conrad Shipyard,…

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High Frequency Tracking System Developed For Workboat

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Nebo Global is launching its NeboFleet tracking solution for workboat fleets at the International Workboat Show, November 12, 2024.

Already in operation with selected businesses in the United States and Australia, NeboFleet provides fleet managers and operational staff with a clear view of fleet and vessel status and an accurate track of where each vessel has been.

Nebo Fleet is accessed via a secure online portal and app, with a self-contained, waterproof GPS tracker installed on each vessel. Nebos provide a managed service, including secure data transmission from each vessel and rapid support.

Stephen Winter, Nebo Global’s founder and Technical Director said: “Nebo Fleet has been live with a number of our key clients for over 18 months, and all report significant improvements across their operations. With both wired and battery-powered devices, installation on old and new vessels is easy, and results are instantaneous.

“We’re super-keen to demonstrate how quickly NeboFleet adds value, particularly by integrating with client’s existing systems. Inserting arrival and departure times and passing mile markers on river systems are simple examples of automation and integration that save time and improve the accuracy of vessel logs.”

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GTT Secures Tank Design Job For Two Ultra Large Ethane

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French engineering company GTT has received an order from Korean shipyard HD Hyundai Samho for the tank design of two new Ultra Large Ethane Carriers (ULEC).

The order has been placed on behalf of shipowner Eastern Pacific Shipping.

GTT will design the tanks of these two vessels, which will each offer total capacity of 150,000 m3. The tanks will be fitted with the Mark III membrane containment system developed by GTT.

The containment system has been designed to carry a wide range of liquefied gases from the petrochemical industry, in addition to LNG, allowing broad operational flexibility over the vessel’s lifetime.

The delivery of the vessels is scheduled between the second and third quarters of 2027.

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Al Seer Marine Secures USD 80 Million Financing from BOCOM Leasing for MR Tankers Betelgeuse and Bellatrix – Main Feed

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  • This agreement marks the first collaboration between Al Seer Marine and BOCOM Leasing, establishing a new partnership in the maritime industry.
  • This financing is a milestone for Al Seer Marine, as it secures its first funding from outside the UAE. It empowers the company to expand its operations and invest in modern, eco-friendly vessels, strengthening its position within the global maritime landscape.

Abu Dhabi, 16 October, 2024: Al Seer Marine (ADX: ASM), a frontrunner in the maritime industry and a subsidiary of International Holding Company (ADX: IHC), is pleased to announce that it has secured USD 80 million in financing from BOCOM Financial Leasing Co., Ltd (BOCOM Leasing), a subsidiary of the Bank of Communications, one of China’s largest commercial banks, for its newly delivered MR tankers, Betelgeuse and Bellatrix. This transaction represents the first financing that Al Seer Marine has secured for its shipping fleet from outside the UAE.

These two tankers have been built ready for alternative fuels such as Liquefied Natural Gas (LNG), ammonia, and methanol, ensuring compliance with the latest environmental regulations. With a deadweight of 49,757 MT each, both vessels are IMO II/III oil and chemical tankers designed to carry six fully segregated grades of cargo and have been fixed on five-year time charters (TC) to Reliance International DMCC.

Guy Neivens, CEO of Al Seer Marine, said: “Securing this financing from BOCOM Leasing is a key step in our strategy to diversify funding sources and strengthen our fleet with backing from both local and international financial institutions. It highlights the robustness of our financial performance, which continues to attract global investors like BOCOM. This deal reflects strong confidence in the future revenue potential of Al Seer Marine, driven by the expected rise in global demand for liquefied natural gas (LNG) and petrochemicals. As the world shifts towards sustainable energy sources, we are well-positioned to capitalise on these trends and drive sustainable growth for our company and its stakeholders.”

WU Jiajun, Deputy CEO of BOCOM Financial Leasing Co., Ltd, stated: “At BOCOM, we maintain high standards in selecting projects to invest in, and Al Seer Marine is one of the companies we trust to be a long-term cooperation, delivering satisfying returns on investment. We are thrilled to embark on this new collaboration with Al Seer Marine, a company that shares our commitment to innovation and sustainability in the maritime industry. This leasing agreement marks the beginning of what we anticipate being a strong and mutually beneficial cooperation.”

Al Seer Marine is an important part of the UAE’s maritime sector, contributing to attract substantial global investment and supports the UAE’s strategy to become a global hub for commercial shipping. This developing sector is creating new opportunities for growth and innovation. The cooperation between Al Seer Marine and BOCOM Leasing underscores the UAE’s status as a prime destination for international maritime investments, further reinforcing its position as a key player in the global maritime arena.

ENDS-

About Al Seer Marine (ASM)

Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime organisation headquartered in Abu Dhabi. Our extensive service portfolio encompasses commercial shipping, yachting, boat building, large-scale 3D printing, unmanned vessel platforms and capabilities, and cutting-edge technological innovations. We seamlessly integrate top-tier services, innovative technological solutions, and a proven track record of operational excellence.

Whether it’s operating a fleet of superyachts with luxurious precision, owning & operating a fleet of commercial vessels, employing innovative additive manufacturing processes, or engineering futuristic unmanned vessels, Al Seer Marine stands as a beacon of expertise, capability, and excellence, capable of transforming any maritime vision into a reality.

Our comprehensive service approach ensures a seamless journey from conception to realization, leveraging the latest in commercial ship and yacht management innovations. Our dedicated boat building team not only excels in additive design techniques and precision builds but also offers extensive training and expert maintenance, ensuring the longevity and performance of our creations.

www.alseermarine.com

About International Holding Company (IHC)

IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 895 billion as of June 30, 2024. IHC endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), representing the top 15 largest and most liquid companies on the ADX.

IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 1,000 subsidiaries, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Asset management, Healthcare, Real Estate and Construction, Marine and Dredging, IT and Communications, Financial Services, Food Production and Service, Utilities, and Services.

With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes and new opportunities arise, IHC remains focused on resilience, innovation, and redefining the marketplace for itself, its clients, and its partners.

www.ihcuae.com

About BOCOM Financial Leasing Co., Ltd (BOCOM Leasing)

BOCOM Financial Leasing Co., Ltd is a wholly owned subsidiary of Bank of Communications, which is one of the big five commercial banks in China. It adheres to the development strategy of “professionalization, internationalization, differentiation, and specialization”. Bocom Leasing is also an officially licensed and regulated financial leasing company with a deep participation in global shipping finance business for years. At the end of the first half of 2024, the company’s total assets amounted to 60.61 billion US dollars, with a lease asset scale of 54.06 billion US dollars.  The company’s registered capital, lease asset balance, operating revenue, net operating income, total profit, net profit, net increase in lease assets, and shipping portfolio all rank first in the industry.

 

 

الصير مارين تبرم اتفاقًا مع “بوكوم ليسينغ” بقيمة 80 مليون دولار لتمويل ناقلتي بيتيلجوس وبيلاتريكس

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أبوظبي، 16 أكتوبر، 2024: أعلنت شركة الصير مارين للمعدات والتوريدات البحرية،إحدى الشركات الرائدة في القطاع البحري، والتابعة للشركة العالمية القابضة، عن حصولها على تمويل بقيمة 80 مليون دولار من شركة “بوكوم ليسينغ” للتأجير التمويلي المحدودة، التابعة لبنك الاتصالات، أحد أكبر البنوك التجارية في الصين، وذلك لتمويل ناقلتي بيتيلجوس وبيلاتريكس، اللتين تم تسليمهما حديثًا. وتمثل هذه الصفقة أول تمويل تحصل عليه الصير مارين لأسطولها البحري من جهة تمويلية من خارج دولة الإمارات.

تم تجهيز الناقلتين من طراز IMO II/III،

لتشغيلهما باستخدام الوقود البديل؛ مثل الغاز الطبيعي المسال، والأمونيا، والميثانول، ما يضمن امتثالهما لأحدث التشريعات البيئية. وتبلغ الحمولة الساكنة لكل ناقلة 49,757 طنًا، ويمكنهما نقل ست شحنات منفصلة تمامًا من النفط والمواد الكيميائية، وقد تم تأجير الناقلتين بعقد مدته خمس سنوات لشركة “ريلاينس إنترناشيونال دي أم سي سي”.

وقال جاي نيفينز، الرئيس التنفيذي لشركة الصير مارين للمعدات والتوريدات البحرية: “يُعد الحصول على هذا التمويل من “بوكوم ليسينغ” خطوة رئيسة في استراتيجيتنا لتنويع مصادر تمويلنا، وتعزيز أسطولنا بدعم من المؤسسات المالية المحلية والدولية، ما يؤكد على قوة أدائنا المالي الذي يجذب المستثمرين العالميين مثل “بوكوم ليسينغ”. وتعكس هذه الصفقة الثقة الكبيرة في إيراداتنا، مدفوعة بالارتفاع الكبير المتوقع في الطلب على الغاز الطبيعي المسال والمنتجات البتروكيماوية، مواكبة للتوجه العالمي بالتحول لمصادر الطاقة الأكثر استدامة، وقد قمنا بالاستعداد للاستفادة من هذا التحول لتنمية أعمالنا وزيادة العوائد لشركائنا.”

من جانبه، قال وو جياجون، نائب الرئيس التنفيذي لشركة “بوكوم ليسينغ” للتأجير التمويلي المحدودة: “نلتزم في شركتنا بأعلى المعايير في استثماراتنا والمشاريع التي نموّلها، ونتشارك مع الصير مارين في تبني الابتكار والاستدامة في القطاع البحري، ولدينا ثقة عالية بقدرتها على تحقيق عوائد استثمارية متميزة على المدى البعيد، ونحن حريصون على إطلاق هذا التعاون الجديد، الذي سيمهد الطريق لبناء شراكة متينة ومثمرة بين الطرفين.”

تُعد الصير مارين لاعبًا رئيسًا في قطاع النقل البحري بدولة الإمارات، لتحقيق استراتيجيتها في أن تكون المركز العالمي للشحن التجاري، وذلك عبر إسهام الشركة في جذب استثمارات عالمية كبيرة في هذه الصناعة التي تشهد ابتكارات متنامية، وسيعزز هذا التعاون مكانة الدولة باعتبارها وجهة رئيسة للأعمال والشركات البحرية الدولية.

-انتهى- 

نبذة عن الصير مارين للمعدات والتوريدات البحرية:

تعتبر شركة الصير مارين للمعدات والتوريدات البحرية (ADX: ASM) مؤسسة عالمية رائدة في القطاع البحري، ومقرها أبوظبي. تقدم الشركة مجموعة واسعة من خدمات الشحن التجاري، وإدارة اليخوت، وبناء القوارب، والطباعة ثلاثية الأبعاد للمجسمات الضخمة، إضافة إلى قدراتها في تطوير السفن والمنصات غير المأهولة ذاتية القيادة، وعدد من الابتكارات التكنولوجية المتقدمة. تدمج الشركة خدماتها عالية المستوى مع الحلول التكنولوجية المبتكرة، وتمتلك سجلًا حافلًا بالتميز في أدائها التشغيلي.

www.alseermarine.com 

نبذة عن الشركة العالمية القابضة 

تأسست الشركة العالمية القابضة في عام 1998 كجزء من مبادرة لتنويع وتطوير قطاعات الأعمال غير النفطية في دولة الإمارات العربية المتحدة ونمت لتصبح الشركة القابضة المدرجة الأكثر قيمة في الشرق الأوسط بقيمة سوقية تبلغ 876 مليار درهم إماراتي اعتباراً من 31 مارس 2024.  تسعى الشركة إلى تنفيذ مبادرات الاستدامة والابتكار والتنويع الاقتصادي عبر ما يُعد الآن إحدى أكبر التكتلات في المنطقة. وانضمت الشركة العالمية القابضة إلى مؤشر فوتسي سوق أبوظبي 15 “فاداكس 15” والذي يضم الشركات الخمسة عشرة الأعلى سيولة في سوق أبوظبي للأوراق المالية.

وتتمثل أهداف الشركة العالمية القابضة في تعزيز محفظتها من خلال عمليات الاستحواذ والاستثمارات الاستراتيجية وتجميع الأعمال. وتضم الشركة أكثر من 900 شركة تابعة، وتسعى إلى توسيع أصولها وتنويعها عبر عدد متزايد من القطاعات، بما في ذلك إدارة الأصول، والرعاية الصحية، والعقارات والإنشاءات والخدمات البحرية والتجريف والخدمات المالية، وتكنولوجيا المعلومات والاتصالات، والخدمات المالية، وإنتاج الأغذية، والخدمات، والمرافق والخدمات.

ومن خلال استراتيجيتها القائمة على تعظيم القيمة للمساهمين وتحقيق النمو، تحرص الشركة العالمية القابضة على رفع الأداء التشغيلي وزيادة الكفاءة في جميع القطاعات وخفض التكاليف إلى الحد الأقصى، كما تواصل العمل على استكشاف وتقييم أفضل فرص الاستثمار عبر الاستحواذ المباشر وبناء الشراكات داخل دولة الإمارات وحول العالم، لمواكبة التغيرات المتواصلة واقتناص أفضل الفرص، حيث تركز الشركة العالمية القابضة جهودها على زيادة المرونة في استثماراتها المبتكرة، وتشكيل الأسواق التي تستثمر فيها لخدمة عملائها وشركائها الاستراتيجيين.

www.ihcuae.com

 

How Propane Can Help Ports Meet Emissions Goals

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Ports can’t afford to slow down, and stricter environmental regulations and emissions standards are pushing port authorities to balance operational efficiency with reducing their carbon footprint. By replacing traditional gas and diesel as an energy source, propane can help ports reduce emissions and air pollution without sacrificing power or efficiency. Let’s explore how.

Reduced Emissions
Propane is non-toxic and won’t contaminate soil or water. A byproduct of natural gas processing and sometimes crude oil refining, propane is recognized for its lower emissions profile compared to fuels like gas and diesel. In fact, propane is listed as an approved alternative fuel under the Clean Air Act. When used in engines to power port tractors, forklifts, light- and medium-duty vehicles, and more around port terminals, propane emits significantly fewer greenhouse gases, nitrogen oxides (NOx), and particulate matter than diesel and gas.

Here are some examples:

Propane Port Tractors

  • In terminal tractors and light-duty vehicles, propane produces 12 percent fewer greenhouse emissions than gasoline.
  • Terminal tractors produce 99 percent less particulate matter than diesel tractors.

(Photo: Propane Education & Research Council)

Propane Forklifts

  • Propane forklifts…

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North Star Gets Its First CSOV Contract

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UK-based offshore vessel owner North Star has secured its first contract for a commissioning service operation vessel (CSOV) from EnBW, which will be deployed at 960 MW He Dreiht offshore wind farm in Germany.

This award for the newbuild Grampian Kestrel CSOV of VARD 4 22 design, will precede the decade-long minimum charter contract the firm signed in February to provide a service operation vessel (SOV) for the German energy utility firm’s He Dreiht wind farm in the North Sea.

Tailored for the commissioning phase, the Grampian Kestrel CSOV will offer essential accommodation and logistics to support the construction and commissioning works in 2025.

Following this period, it will lead EnBW’s operations and maintenance activities until the newbuild SOV is delivered in the third quarter of 2026.

The Grampian Kestrel is the first of two CSOVs under construction for North Star. The VARD 4 22 design has been developed especially for North Star, with new methanol ready hybrid-propulsion solutions and an increased number of single cabins, providing hotel quality accommodation for the technicians working in field.

“The CSOV, part of North Star’s growing fleet as we aim to add 40 SOVs by 2040, will be equipped with market leading accessibility to…

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Ship Recyclers Caught In “Eerie Calm”

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Cash buyer GMS reports an eerie calm has descended across tense global economies, including the destitute ship recycling sector.

It’s been some time since a regular supply of a decent variety of vessels has been regularly available (likely the worst in a decade), says GMS. 

Levels have declined by over USD 100/LDT since the peaks of early 2024 and offerings continually retreat, firmly relegating all vessels below the commensurate USD 500/LDT mark.

Geopolitical events have been to blame for much of the trauma across the ship recycling markets this year. “Such has been the unpredictable nature of global instability at present that sentiments are yoyoing wildly from one week to the next.”

Bangladesh has remained virtually out of the picture for over a couple of weeks, given that most infrastructure projects remain on hold under the current interim government.

India has managed to haul in a massive tranche of tonnage, but ship recycling yards across Bangladesh and (especially) Pakistan lie empty due to comparatively weak sentiments that have left demand stifled.

As cheaper Chinese steel continues to flood the markets and has been a key source of frustration for Indian and Pakistani recyclers in recent times, meaningful tariffs have done little to…

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