Deals this week: Baltic Sea ports, Wärtsilä, TPG Capital

15 September 2016 (Last Updated September 15th, 2016 18:30)

A memorandum of understanding (MoU) has been signed between the four Baltic Sea ports of the Port of Tallinn, the Port of Helsinki, the Ports of Stockholm and the Port of Turku to develop a joint approach for providing innovative onshore power supply for vessels.

A memorandum of understanding (MoU) has been signed between the four Baltic Sea ports of the Port of Tallinn, the Port of Helsinki, the Ports of Stockholm and the Port of Turku to develop a joint approach for providing innovative onshore power supply for vessels.

Under the MoU, the four ports will develop 11kV new-build connections with a frequency of 50Hz. The ports will also work towards minimising the impact of port operations and shipping on the environment.

Wärtsilä has been awarded a contract to supply a number of solutions for four new-build tanker vessels planned to be built at China’s Avic Dingheng shipyard.

"Wärtsilä has been awarded a contract to supply a number of solutions for four new-build tanker vessels."

The Finland-based manufacturer will supply a nine-cylinder Wärtsilä 34DF dual-fuel main engine, two Wärtsilä Auxpac 20 auxiliary engines, a controllable pitch propeller, a high-performance nozzle, a Wärtsilä Energopac rudder system, and a Wärtsilä selective catalytic reduction system.

TPG Capital, LP and The CPP Investment Board (formerly Canada Pension Plan Investment Board) have announced their plans to make a combined minority investment of $500m in Misa Investments Limited.

TPG is a private equity firm based in the US, while Misa Investments is a travel services provider also based in the US. CPP Investment is an investment management company based in Canada.