August’s top stories: Lerwick Port Authority monitoring, KKR Credit’s $1.5bn loan
Lerwick Port Authority introduces new vessel monitoring system and KKR Credit to purchase $1.5bn shipping loan from NORD/LB. Ship-technology.com wraps up the key headlines from August 2016.
The UK’s Lerwick Port Authority installed a new vessel monitoring system (VMS), which uses the latest technology to advance the handling of ship movements at the Shetland port.
Provided by Transas, the new VMS covers four sites in the port area, including port control in the main building, and three remote stations.
The areas covered include Rova Head north of Lerwick, and Maryfield and Kirkabister, on the island of Bressay; monitoring the northern approaches, inner harbour and southern approaches, respectively.
Global investment firm KKR Credit and an undisclosed sovereign wealth fund finalised a deal to buy $1.5bn worth of shipping loans from German business bank Norddeutsche Landesbank (NORD/LB).
The proposed portfolio of performing and non-performing loans will cover up to 100 ships.
Following the completion of the deal, the buyers plan to establish a shipping portfolio management company.
Emerging Markets Communications (EMC), a unit of Global Eagle Entertainment (GEE), was contracted to provide marine VSAT services for Nakilat’s liquefied natural gas (LNG) and liquefied petroleum gas (LPG) carrier fleet.
As part of the deal, EMC has provided global Ku-band VSAT connectivity and content to allow a range of internet, data and voice services for the vessels and crew whilst at sea.
The on-board satellite communication suite features a high-quality voice-over-IP (VoIP) system for the corporate network, which will reduce the costs of voice calls over the satellites.
The National Transportation Safety Board (NTSB) in the US recovered the voyage data recorder (VDR) from El Faro, a US flagged cargo ship that sank during last year’s Hurricane Joaquin.
Retrieved from nearly 15,000ft under the ocean, where the wreckage of El Faro had settled down, the VDR was designed to record navigational data and communications between crewmembers on the ship’s bridge.
The recorder, recovered after a ten month long effort, is expected to provide information on the final hours of El Faro’s journey and the situations leading up to the sinking.
Chinese shipping company Cosco Shipping acquired a 67% stake in OLP, which operates the Piraeus port authority in Greece, for $409m.
The deal, approved by the Greek parliament in July, has allowed COSCO to run Piraeus until 2052.
The deal has also enabled COSCO Shipping to become the majority shareholder of OLP, taking over the port's management and operations, as well as its passenger ferry services.
New research conducted by a San Diego State University biologist has potentially found that some species of bacteria help with barnacle formation at the bottom of vessels.
The research demonstrated how these bacteria triggered organisms such as barnacles and tube worms to change from free-floating larvae into stable adults that usually settle upon a surface such as a ship bottom.
The study discovered that the interaction of some species of bacteria with tube worm larvae through spear-like appendages leads to the activation of a chain of proteins called MAPK, signalling pathways within the larvae.
Switzerland-based technology company ABB introduced a new arctic course for deck officers in order to meet demand in the ice-going vessel segment.
Developed in collaboration with customers, the five-day course was recently held in partnership with the Aboa Mare training centre in Turku, Finland.
The training includes discussions, lessons and full mission bridge simulator exercises.
Germany-based navigation system manufacturer Raytheon Anschütz provided an advanced gyro compass system for two 25,000 deadweight tonnage (dwt) polar class heavy transport vessels.
Designed for operations north of 70° latitude, both the Audax and Pugnax vessels have been built at the Guangzhou Shipyard International (GSI) in China for Red Box Energy Services.
Red Box Energy Services currently provides both offshore and onshore energy services.
UAE-based Abu Dhabi Ports unveiled an expansion plan for its deepwater Khalifa Port in order to handle more cargo.
As part of the plan, 1,000m of quay wall will be added to the port, deepening its main channel and basin to 18m from the existing 16m.
With the addition of the new quay, the terminal will get another 600,000m² for cargo handling.
US-based Hyperloop One collaborated with DP World to carry out an economic and technical feasibility study to build a hyperloop route in Dubai, United Arab Emirates.
The feasibility study will look into the possibility of Hyperloop technology to improve the efficiency, profitability and sustainability of DP World's Jebel Ali port in Dubai.
Hyperloop features an integrated structure that helps move passengers and cargo between two points immediately, safely, efficiently, and sustainably.