• 2018 January 18 13:12

    Rolls-Royce announces strategic review of Commercial Marine operation

    Rolls-Royce announces that it is embarking on a further simplification of the business, including the evaluation of strategic options for its Commercial Marine operation and a reduction from five operating businesses to three core units based around Civil Aerospace, Defence and Power Systems. As part of this exercise, Rolls-Royce plans to consolidate its Naval Marine and Nuclear Submarines operations within existing Defence business, and Civil Nuclear operations within Power Systems business. This will facilitate a more fundamental restructuring of support and management functions in particular, the company said in its press release.

    Since 2015 Rolls-Royce Marine business has responded to weak demand for products and services for the offshore oil and gas market, which significantly impacted its profitability. It has divested non-core businesses and reduced the number of sites from 27 to 15 – an overall reduction in footprint of 40%. It has managed a reduction in its workforce by 30% to 4,200, with the majority now based in the Nordic region. At the same time, the business has been investing in new facilities and new technologies and become an industry leader in the fields of ship intelligence and autonomous vessels, culminating in June 2017 with the successful demonstration, in Copenhagen harbour, of the world’s first remotely operated commercial vessel. Given the progress the business has already made, it is now an appropriate time to conduct a strategic review of Commercial Marine. This review will be undertaken during 2018 and Rolls-Royce will update the market of the outcome at the appropriate time.

    Regardless of the outcome of this strategic review, Rolls-Royce will retain the Marine operations which supply complex power and propulsion systems to Naval customers, including the Royal Navy and US Navy. During the first quarter of 2018, these Naval operations will become part of an enlarged Defence business named Rolls-Royce Defence, comprising the current Defence Aerospace business and Nuclear Submarines operation. Rolls-Royce will also continue to have a successful engine business serving marine customers within Power Systems.

    In 2016, Marine contributed £1,114m revenue and generated a loss of £27m. Within this, the Commercial Marine business, which supplies equipment and vessel design across the oil and gas, merchant and other commercial markets, accounted for 75% of revenues while the Naval operations accounted for 25% and achieved a small profit. Marine continues to be impacted by weak demand for products and services for the off-shore oil and gas market.




2018 August 21

18:28 JMS-designed RV Virginia is launched, to be delivered to VIMS
18:11 UCL Ports’ Multipurpose Reloading Complex invests heavily in development
18:02 Railway to Sabetta to be built on a concession basis, regional official says
17:24 Ukrainian seaports see a 2.5% decline in Jan-Jul cargo volumes, to 73.9 million tonnes
17:12 Equinor extends contract with Prosafe for Safe Boreas
16:16 M/V RK-19 drydocking and refit begins at Delo Group’s Aleksino Port Marina Shiprepair Yard
16:12 V.Group launches project ‘Embark’ to transform crewing
15:31 Team Tankers reports Q2 net income of $4.4 million
15:11 MOL announces additional investment in PKT Logistics Group, Malaysia
14:47 Kenia Port Authority takes delivery of new 75bp tugboat Eugene
14:31 GasLog inks new charter agreements, orders LNG carrier duo
13:38 All-Russian Aquarobotech 2018 marine robotics competition kicks off in Vladivostok
13:08 Fangcun Port in China to close effective 1st October 2018
13:02 Ministry of Natural Resources offers to set up the NSR development project office
12:24 Far East ports bunker prices open the week on a bearish note
12:08 CMA CGM announces PSS from Asia, India, the Middle East and America to Nigeria
11:21 OSCE mission barred from access to the Russian flagged tanker detained in Kherson port
11:13 Wärtsilä to build Smart Technology Hub, next-generation innovation and production centre in Finland
11:08 MSC slows ships to help protect whales in U.S. waters
10:41 Baltic Dry Index adds 4 pts to 1727 points
10:28 Port of Long Beach box volume rose 11.3% in Jan-Jul to 4.64 million TEUs
10:17 Crude oil futures gain slightly to $72.23 in London and to $65.53 in New York
10:08 HELCOM publishes report on sewage port reception facilities in the Baltic Sea
09:29 Port of Los Angeles seven-month container volumes down 2.59% to 5.14 million TEUs
09:08 Port of Long Beach approves Toyota's Green Terminal makeover
08:26 Crowley successfully supports Appomattox platform tow-out in the U.S. Gulf

2018 August 20

18:26 Okskaya Sudoverf Shipyard delivers sixth serial oil barge BELMAX 6 of ROB20 design
18:06 Dan-Bunkering expands and merges with Australian company
17:36 Carbon Trust and Fistuca announce successful execution of offshore test of innovative new installation technology
17:26 Russian owners, operators stop shipping to Ukraine for fear of loosing cargo
17:09 ESL Shipping takes delivery of eco-friendly bulk carrier Haaga
17:05 Teekay LNG Partners mandates banks to arrange Fixed Income Investor Call
16:35 CMA CGM announces FAK rates from Asia to North Africa
16:05 Royal Wagenborg's m.v. Nassauborg discharges timber in Alexandria
15:30 CMA CGM announces FAK rates from Asia to the Mediterranean
15:02 Maersk and Vopak to launch 0,5% sulphur fuel bunkering facility in Rotterdam
14:48 SHI awarded contract for LNG carrier duo from Celsius Tankers
14:23 Spot market price for Russian M100 product ended last week higher at an average of RUB 18,212 / pmt
13:21 Baltic Shipyard loads heavyweight propulsion units onto the 60MW LK-60 nuclear-powered icebreaker URAL
13:11 APL's Eagle Express Service delivers X-factor in Los Angeles
12:13 Golden Ocean Group to equip its 16 Capsize vessels with scrubbers
12:10 ANL to implement Operational Cost Recovery Surcharge in Chittagong Port
11:07 Port of Vyborg volumes in first seven months rose 28% to 970,000 tonnes
10:57 Golden Ocean announces Q2 2018 results
10:17 Crude oil futures prices edge down to $71.61 in London, in New York to $64.95
10:03 Port of Everett breaks ground on $36 mln South Terminal Wharf Modernization Project
10:03 Baltic Dry Index gains to 1723 points
09:57 Chinese Blockchain Company Yuanben to protect the safety of global maritime freight data
09:36 Box traffic at busiest Chinese ports in Jan-Jul rose 4.1% to 5.36 billion tons
09:28 Port of Hong Kong seven-month box volumes drop 4.4% to 11,5 million TEUs
08:44 Kongsberg Maritime wins contracts for nine hybrid Ro-Ro vessels

2018 August 19

08:19 CMA CGM announces GRR from UAE to East Africa
08:14 Maersk Line introduces Peak Season Surcharge – Scope World to Apapa, Nigeria and Tin Can Island Port, Nigeria
08:12 CMA CGM announces GRR from India to East Africa
08:07 Maersk Line increases rates from Middle East & Indian sub-continent to North America

2018 August 18

08:03 Port of Oakland to build Seaport Logistics Complex
08:00 CMA CGM announces PSS from Europe, Scandinavia, Black Sea and West Med to Indian Ocean islands
07:57 CMA CGM announces FAK rates from Asia to North Europe
07:41 A.P. Møller - Mærsk A/S posts results for Q2 2018

2018 August 17

20:03 A system of floating containment booms installed near two jetties of Petersburg Oil Terminal