Monday, February 14, 2000

Wärtsilä NSD and John Crane Lips to offer total
marine power systems

Two leading companies are planning to collaborate to offer shipowners and shipbuilders total marine power systems including the engine, gearbox, the ship's propeller and all controls. Wärtsilä NSD and the TI Group, the parent company of John Crane Lips, today signed al etter of Intent covering the development, marketing and sales of total marine power systems. They aim to sign the final co-operation agreement within the following two months.

Wärtsilä NSD has a comprehensive portfolio of marine engines. John Crane-Lips has a wide range of marine propulsion systems.

Under the co-operation agreement Wärtsilä NSD will act as the prime contractor to shipyards. Wärtsilä NSD and John Crane-Lips will continue tosell their products separately to customers not wishing to purchase total marine propulsion systems.

The parties have agreed to start negotiations over the potential integration of Wärtsilä NSD's propeller business in Rubbestadsneset, Norway, into John Crane-Lips.

"As ship design becomes increasingly complex and performance more demanding," says a statement announcing the cooperation, "shipbuilders are choosing to act as integrators and outsource complete marine power systems to suppliers on a turnkey basis. The co-operation agreement will place Wärtsilä NSD and John Crane-Lips in a strong position to benefit from this trend."

Wärtsilä NSD's network of 3,000 service professionals in 50 countries will provide global service for all marine systems supplied under the agreement. This will offer shipowners a single supplier of total propulsion system service during the lifetime of their vessels.


Korea continues inroads into FMS market
South Korean shipyards continue to expand into the Foreign Military Sales (FMS) sector. The Korean defense industry exported $197 million in military goods last year and sales are expected to reach $250 million this year, according to the Chosun Ilbo. The largest item sold in 1999 was a $57 logistical support vessel for Venezuela.

Korea's military exports totaled $45 million in 1996 and $57 million in 1997, but jumped to $147 million in 1998 with the export of a 2,000 ton frigate to Bangladesh.


Kvaerner sells Fjellstrand shipyards in Norway
Kvaerner has signed an agreement to sell the two Kvaerner Fjellstrand yards in Norway to a consortium consisting of the management of the company and other local investors. Efforts are continuing to find a buyer for the Singapore yard, which meantime will continue to market and produce 30 m and 50 m Flying Cats for worldwide delivery. The gross consideration for the sale of the Norwegian amounts to NOK 100 million.This will result in a small accounting loss for Kvaerner, but within the scope of previously announced provisions.

... and maritime projects business
Kvaerner has also entered into an agreement to sell Kvaerner Maritime, its Oslo, Norway-based maritime projects and technology business. The company, which has annual revenues of approximately NOK 150 million and employs 70 people, is to be sold to a consortium consisting of the management and staff of the company, and Reiten & Co ASA, for a cash consideration of NOK 130 million.



Bureau Veritas signs on to French Ship Safety Charter
Classification society Bureau Veritas is a founding signatory to a Ship Safety Charte. The charter was developed at a round table of all principal players in the French petroleum shipping industry, organized by the French government on Thursday, February 10, 2000.

The charter covers a series of technical and social measures and shows the determination of all the signatories to improve ship safety and better exchange of information between them. It may also provide an indication of some of the changes to tanker safety and pollution prevention regulations that France will push for within the European Union and through IMO.

Bureau Veritas has undertaken to seek adoption by IACS of those aspects of the charter which refer to classification societies.

For a not-too-elegant English translation of the charter, click here.

For the original French language version, click here

Bernard Anne, senior vice president and head of BV's Marine Division says, "This charter will raise levels of ship safety and improve transparency right across the industry. We are very happy to have played an active part in setting it up."

 

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