Products & services

TECO 2030 receives BWTS order from CMI Ship Management

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Products & services Products & services; Published: 19 August 2022 19 August 2022

TECO 2030 ASA has received an order for one TECO 2030 Ballast Water Treatment System (BWTS) powered by BIO-SEA from CMI Ship Management, for the ship Ocean Diamond, worth approximately NOK 910 000.

This is sixth BWTS system CMI orders from TECO2030’s team in Miami, USA. This confirms TECO2030's position in the market as a preferred BWTS partner and proves our capabilities to cooperate with clients around the world.

"Ballasts are reservoirs used to stabilize ships according to their load. In order to prevent invasive species from travelling from one region to another, and possible health issues, a ship's ballast water needs to be treated before being discharged back to sea. Our system complies with the new G8 rules which were put in force in October 2020. TECO2030 Ballast Water Treatment System complies with International Maritime Organization and United States Coast Guard rules," the company said in a statement.

"The sale of existing and proven technology to reduce emissions and pollution from ships, means TECO2030 will have meaningful revenue streams while we work on our most ambitious project, the development of the TECO2030 Marine Fuel Cell, a hydrogen-based PEM fuel cell specifically developed for maritime use," says Tore Enger, Group CEO of TECO 2030.

"This order from CMI Ship Management, perfectly illustrates this combination of short-term sales and long-term development. By 2024, all ships will need a ballast water treatment system," Enger added.

De Wave targets 104 million euros orders in the cruise and refitting market

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Products & services Products & services; Published: 12 August 2022 12 August 2022

The Genoa based group, De Wave, leader in cruise vessels and yachting outfitting is willing to balance the 2022 first half book with an overall 104 million euro orderbook, including new orders just awarded and operations just completed.

Within the Cantieri Mariotti yard in Genova, after delivering the Seabourn Venture, the De Wave group is now engaged on board a sister ship (scheduled for delivery in 2023) with ultra-luxury suites that will characterize these units within the Carnival group top luxury brand.

In last June, De Wave completed a 40 million Euros intervention on board the Resilient Lady (Virgin group) built by the Fincantieri shipyard in Sestri Ponente, and is now involved in the construction of the fourth ship of this series, the Scarlett Lady. The Genoese company also completed a 10 million euros order on board the Norwegian Prima vessel built by Fincantieri in Marghera.

In terms of new orders, the first contract signed with Oceania Cruises provides for the refurbishment of over 600 cabins and other public areas of the Marina and Riviera vassels, at Chantier Naval de Marseille.

De Wave has also acquired orders worth over 6 million euros each, for the new Norwegian Cruise Line ships under construction in the Fincantieri yard in Marghera-Venice. De Wave will outfit the main public areas.

The group, led by Riccardo Pompili, signed an important contract for interior outfitting of the top suites of a the Royal Caribbean ship under construction at the French Chantiers de l'Atlantique shipyard.

During the 2022 first five months, De Wave delivered over 15 million euros orders for the Discovery Princess within the Monfalcone yard.

In fact the relationship between De Wave and Princess Cruises is strong and the Genoa based company undertook interventions on bord of all Princess different brands vessels. In April last De Wave also completed a 9.3 million Euros order on board of Celebrity Beyond, built at the Saint Nazaire shipyards,

"De Wave is taking profit from a robust market – explains Riccardo Pompili, CEO of the group – but also from diversification of outfitting interventions. New orders and the positive balance of work already delivered, allow us to confirm that 2022 is set to sail before the wind. In addition to newbuildings, an increasingly consistent market share is growing thanks to refitting of ships in operation for more than 10 years. Shipowners are asking for renewal of the fleet and we are ready to satisfy them: Italy is a leader in the sector and De Wave is able to provide skills and workers to accelerate the energy transition too ".

Significantly, De Wave, which is today a system-company, at the CSI (Cruise Ship Interiors Expo) fair recently held in Miami "presented itself for the first time - emphasizes Pompili - with two new companies that have joined the group, namely Tecnavi and FCR Finland. These companies allowed us to implement our skills and offer a full service to the market ". With this in mind, the Genoese group is already preparing its participation in the SMM fair, which will be held from 6 to 9 September in Hamburg.

SES to provide global connectivity services to Explora I

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Products & services Products & services; Published: 18 July 2022 18 July 2022

SES, the world’s leading content connectivity satellite service provider, today announced that it will be providing global connectivity services to Explora Journeys, debuting on EXPLORA I. Guests and crew will benefit from SES’s best-in-class low latency, highest available throughput and global Cruise mPOWERED connectivity service.

Explora Journeys, the new luxury lifestyle brand of the MSC Group, is redefining the ocean experience for a new generation of discerning luxury travellers. The brand’s aspiration is to create a unique ‘Ocean State of Mind’ by connecting guests with the sea, with themselves, and with like-minded people, while remarkable itineraries will blend renowned destinations with lesser-travelled ports, for a journey that inspires discovery in all its forms.

Today’s announcement means that guests onboard the EXPLORA I will enjoy complimentary, high-speed, reliable, and uninterrupted Wi-Fi, no matter how remote their location. Whether they are streaming their favourite content or sharing their onboard experience from any part of the ship. In addition, enhanced connectivity will improve crew welfare and training, employee performance, motivation, and retention.

This connectivity is delivered by SES’s upcoming second-generation medium earth orbit (MEO) system - O3b mPOWER - which operates around 8,000km above the earth’s surface, and SES’s geostationary (GEO) fleet of satellites ensuring seamless connectivity, wherever and whenever.

Michael Ungerer, CEO of Explora Journeys, commented: “High-speed, reliable and uninterrupted connectivity is no longer a ‘nice to have’, with demand for connectivity services at sea growing in tandem with the development of social media platforms. Today’s guests simply expect seamless and uninterrupted connectivity comparable to on land as they want to share their experiences and stay online as much as possible. We are pleased to be able to offer this connectivity experience to our guests onboard Explora I thanks to SES’s services.”

Simon Maher, Vice President Global Sales, Cruise Maritime Services at SES, said: “It is incredibly exciting to be working with Explora Journeys whose innovative approach is setting new standards in ultra-luxury curated travel experiences at sea. Connectivity is one of the most important enablers for such travel experiences from both a guest and crew point of view. Our O3b mPOWER ultra-fast, low-latency connectivity is empowering a new experience that will revolutionise the ultra-luxury expedition maritime segment.”

ABB to spin off its Accelleron turbocharging business

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Products & services Products & services; Published: 21 July 2022 21 July 2022

ABB to spin off Accelleron and list the company on SIX Swiss Exchange
The transaction will allow both ABB and Accelleron to focus on their respective core strategies and long-term value creation for their stakeholders
ABB’s shareholders can realize the full value of Accelleron while allowing ABB to focus on its core portfolio in the areas of electrification and automation
Accelleron as the market-leader in heavy-duty turbocharging can focus on reaching its full potential in the large engine industry
Accelleron is a profitable and cash generative business targeting an attractive dividend policy
ABB shareholders to receive 1 Accelleron share for every 20 ABB shares they hold
The spin-off is subject to approval by ABB’s Extraordinary General Meeting (EGM) scheduled for September 7, 2022, and subsequent listing planned for October 3, 2022

Following a decision by its Board of Directors, ABB today announces its intention to spin off Accelleron (formerly ABB Turbocharging), its market-leading turbocharging division, by way of a dividend in kind of Accelleron Industries Ltd’s shares to ABB’s shareholders. Accelleron’s listing on SIX Swiss Exchange in Zurich is planned for October 3, 2022, and is subject to, among others, approval by ABB’s shareholders at an Extraordinary General Meeting scheduled for September 7, 2022.

The proposed spin-off of Accelleron represents a unique opportunity for both companies, allowing them to focus on their respective core strategies and create long-term value for their stakeholders. ABB’s shareholders will be able to realize the full value of Accelleron, while ABB continues to simplify its portfolio and focus on the megatrends of electrification and automation. Accelleron will be able to concentrate exclusively on reaching its full potential in the large engine industry where the company is known as the market leader in heavy-duty turbocharging, with a compelling growth profile, high cash generation and an attractive expected dividend policy.

Björn Rosengren, Chief Executive Officer of ABB, commented: “After careful consideration involving a dual-track process, we have concluded that spinning off Accelleron is the best way forward – for Accelleron itself and for ABB’s shareholders. This decision also forms a key part of ABB’s active portfolio management, while allowing our shareholders to actively participate in the future growth of this Swiss champion.”

Global market leader in the turbocharging sector
Accelleron’s potential is driven by its position, built on its very long track record, as a global market leader in heavy-duty turbocharging for mission-critical applications.

Accelleron develops, produces and services turbochargers and large turbocharging components for engines, which enhance propulsion and increase fuel efficiency while reducing emissions. Its leading products support clients in sectors including marine, energy and rail, helping to provide sustainable and reliable power and highest efficiencies. Accelleron has an installed base of over 180,000 turbochargers globally and delivers around 10,000 turbochargers every year.

The turbochargers are produced, sold and serviced by Accelleron’s ∼2,200 employees across its network of 100 service stations in approximately 50 countries. The business has a significant and increasing presence in key established and growth markets in Asia.

Accelleron is considered best-in-class when it comes to reducing fuel consumption and improving the emissions and green profile of its clients’ applications. The company’s outstanding technological competence is increasingly important as pressure grows on its clients to decarbonize, and will remain so, as its turbochargers can also be implemented in alternative and low-carbon fuel applications and drive systems.

Strong financial profile to invest for growth and reward shareholders
Accelleron’s technological pre-eminence is underpinned by market leading investments in research and development, representing approximately 7 percent of its 2021 revenues. Following the spin-off, the company expects that its strong financial profile will allow it to remain at the forefront of innovation by continuing investing in R&D and strengthening partnerships with OEM’s and end users as well as to offer attractive returns to its shareholders.

In 2021, Accelleron generated revenues of $756 million with an operating margin of 25 percent. These results are comprised of resilient service revenues accounting for about 75 percent of 2021 revenues. Accelleron has a profitability above sector average with robust cashflow generation with Cash Flows from Operating Activities of $163 million in 2021. This will allow Accelleron to adopt an attractive dividend policy.

Daniel Bischofberger, CEO of Accelleron, commented: “Through the spin-off, we will have an even greater focus on our own operations, meeting the critical high-power propulsion needs of our customers while enabling them to achieve their environmental targets. Our strong track record and financial profile position the business to be a leader in the energy transition, developing cutting-edge products and services – both now and far into the future; all while remunerating our shareholders.”

Transaction structure
Provided that the spin-off is approved at the EGM and the conditions precedent for it are met, ABB will distribute to its shareholders, on a pro rata basis, as a dividend in kind, 1 Accelleron share for 20 ABB shares held. Further information on the transaction structure and other important dates in connection with the spin-off will follow in the invitation to the EGM and in the Shareholder Information Brochure prepared by ABB in relation to this process.

On August 31, 2022, ABB has scheduled a Capital Markets Day focusing on Accelleron in order to provide further information on the company and the transaction.

ABB has retained Credit Suisse and Goldman Sachs International as exclusive financial advisors on the transaction. Credit Suisse will be acting as listing agent.

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Steerprop steps up its establishment in North America

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Products & services Products & services; Published: 11 July 2022 11 July 2022

Steerprop, a leading designer and manufacturer of propulsion systems, is continuing to build up its presence in North America by appointing key management personnel to lead its local operations.

As previously communicated, Steerprop is establishing a subsidiary in Houston, Texas to meet its North American customers’ needs for local support. This strategic move includes setting up proprietary sales and maintenance services as well as building substantial warehouse facilities.

The establishment process has now reached its next level as Steerprop appoints two experienced propulsion professionals to manage and lead its local operations:
– Hank Morgan has been appointed President of Steerprop Inc. as of July 1, 2022. Morgan has long and comprehensive experience in sales and after-sales service in the North American marine market. In his new role he is responsible for developing Steerprop Inc.’s business operations, providing new and existing customers with the high level of support that Steerprop customers worldwide have grown to depend on.
– Samuli Järvinen has been appointed Chief Operating Officer of Steerprop Inc. His extensive experience from various roles within Steerprop Services is perfect for ramping up the subsidiary’s operational activities. Järvinen is responsible for bringing Steerprop’s world-class services to North American customers, ensuring fast and professional maintenance and availability of Steerprop Original Spare Parts.

“The time has now come to move into the next phase of strengthening our presence in North America. From our prespective, the market is moving in a positive direction as we see the number of loyal Steerprop customers increasing. With Morgan’s strong ability to resolve customers’ challenges and Järvinen’s solid knowledge of Steerprop technology, we will be able to serve our customers even better from now on,” says Riku-Pekka Hägg, President and CEO of Steerprop Ltd.

“With these appointments, we cement our long-term commitment to our customers in the area, and we look forward to continuing the development of our local service business and customer relationships,” Hägg continues.