Deals this week: Corvus Energy, Total Marine Fuels Global Solutions (TMFGS), Cosco Shipping


Farstad Shipping has ordered a lithium-ion-based energy storage system (ESS) from Corvus Energy.

The ESS will be installed on Farstad’s platform supply vessel (PSV) known as Far Sun in order to enable its hybridisation.

Corvus Energy's ESS is set to be equipped on the PSV by Vard Electro in the second half of the year, and is expected to help reduce the vessel's fuel consumption and emissions.

The ESS will supply electrical power to the PSV’s electrical propulsion system and will be used during all aspects of its operation, especially during dynamic positioning and harbour operations. It will enable the PSV to operate in a safe, environmentally friendly and cost-efficient manner.

Total Marine Fuels Global Solutions (TMFGS) has signed an agreement to supply liquefied natural gas (LNG) to the first French LNG-powered cruise ferry, which has been ordered by Brittany Ferries (BAI) and is currently under construction.

TMFGS has also partnered with French companies Dunkerque LNG and Groupe Charles André (CGA) in order to develop LNG infrastructure to support the transportation of LNG bunkers to the Honfleur ferry in the port of Ouistreham, France.

The agreement with Dunkerque LNG includes construction of an automated truck-loading dock, where the containers will be filled with LNG, while the agreement with CGA includes the supply and transportation of ISO containers equipped with geolocation trackers and pressure sensors.

"Total Marine Fuels Global Solutions (TMFGS) has signed an agreement to supply liquefied natural gas (LNG) to the first French LNG-powered cruise ferry."

The partnership enables TMFGS to implement an innovative supply chain, which will use ISO containers to facilitate LNG bunkering.

Cosco Shipping and Shanghai International Port (SIPG) have jointly agreed to buy the entire issued shares of Orient Overseas International (OOIL) at an offer price of $10.06 a share, at a total value of $6.3bn.

The deal is subject to regulatory approvals and approval from Cosco shareholders. 

Cosco will hold 90.1% stake in OOIL upon completion of the acquisition, while SIPG will receive the remaining 9.9%.

The acquisition will expand Cosco’s fleet and capacity, while allowing it to achieve sustainable long-term growth by leveraging the strengths and synergies of the two businesses.

Wärtsilä has secured a contract to supply four of its waterjets, along with the hydraulics and control system, for a new 109m-long high-speed RoPax ferry, which is currently under construction at the Austal Ships yard in Australia.

The waterjets feature a compact axial flow and will offer optimal weight and performance criteria for the high-speed ferry. They will be made of stainless steel and be completely corrosion-resistant.

The components are scheduled for delivery in May 2018, while the ferry is scheduled to be launched in the final quarter of next year.