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January 18, 2019

Deals and M&As this week: Fincantieri, Jiangsu Zhenjiang Shipyard Group

Fincantieri has agreed to collaborate with Cassa depositi e prestiti (CDP) and Snam for developing port facilities in Italy.

Fincantieri has agreed to collaborate with Cassa depositi e prestiti (CDP) and Snam for developing port facilities in Italy.

The partners will analyse and execute medium-term strategic projects for modernising the port facilities, as part of the agreement.

The parties will also work towards developing sustainable technologies for maritime transport affiliated with the National Integrated Energy and Climate Plan Proposal (PNIEC) provisions.

The contract also includes developing infrastructure at the ports and related facilities to aid the supply, transformation and use of liquefied natural gas (LNG), along with developing maritime transport systems incorporating latest technologies and fuel sources.

Fincantieri and Snam will also set up workshops financed by CDP for promoting technical skills.

The trio will strive to enhance operating models and measures to optimise energy consumption in the naval and industrial sectors.

However, the collaboration will be subject to subsequent binding agreements between the companies.

London Offshore Consultants has received a C$551,554 contract from the Canadian Government to analyse the safety and economic viability of its waterways.

London Offshore Consultants will develop a risk assessment technique involving all ‘vessels of concern’ in Canadian waters or on Crown land, including abandoned and damaged vessels.

“All the outstanding shares of Pulogsa are expected to be bought by DP World through a tender offer.”

The risk assessment methodology will allow the Canadian Coast Guard in detecting the risks posed by such vehicles to the environment, public safety, and the economy, as well as help draft a plan for marine ecosystems preservation.

The contract is a part of the government’s C$1.5bn ($1.13bn) Oceans Protection Plan to conserve Canada’s waterways and coasts.

London Offshore Consultants has partnered with Dillon Consulting to perform the analysis.

Jiangsu Zhenjiang Shipyard (Group) has awarded a contract to MAN Energy Solutions for supplying four MAN GenSets.

The two MAN 9L 21/31 and two MAN 6L16/24 GenSets to be supplied under the order will be used to power a new deck carrier, which will be owned by United Wind Logistics (UWL) and operated by French company Louis Dreyfus Armateurs (Lda) for offshore wind farms operation and maintenance in the North Sea.

The specialised carrier will be able to carry offshore wind-turbine units such as blades, nacelles, and towers and is planned to be delivered by November.

To be used primarily in European waters, the dynamic positioning (DP2)-ready vessel will have a length of 148.5m and breadth of 28m.

CMP will manufacture, assemble and test the medium-speed engines in China, while Heavylift@Sea will provide the basic design and engineering work of the new vessel.

A selective catalytic reduction system will be installed in the engines to enable UWL to comply with International Maritime Organization’s (IMO) Tier III regulations to be in force in the North and Baltic Seas before 2021.

DP World has agreed to purchase a 71.3% stake in Puertos Y Logistica (Pulogsa) from Minera Valparaiso and other shareholders of Matte Group.

All the outstanding shares of Pulogsa are expected to be bought by DP World through a tender offer.

The Puerto Central (PCE) terminal in San Antonio, Chile, and Puerto Lirquen (PLQ) terminal in the country’s southern region are operated by Pulogsa, under a long-term concession.

DP World aims to serve cargo owners and shipping lines at major gateways on the west coast of South America in Posorja (Ecuador), Callao and Paita (Peru), and San Antonio and Lirquen (Chile), through the new assets that will be accessible following the stake purchase.

Subject to approvals from relevant third party, the deal is expected to be finalised by June.

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