Cargotec will repurchase maximum 200,000 class B shares to be used as reward payments for Cargotec’s share-based incentive programmes. The shares will be purchased at public trading on Nasdaq Helsinki Ltd at the market price. The repurchases will start on 1 November 2016 at the earliest. According to the authorisation given to the Board of Directors by the Annual General Meeting, the maximum amount of shares that can be acquired is 952,000 class A shares and 5,448,000 class B shares.
Aquamec launches new Watermaster Dredger – Classic V
Watermaster Classic V has 50 % more suction dredging capacity compared to the Classic IV -model. Aquamec’s continuous research and development work has also generated the innovative Watermaster Urban dredging concept and new features for hard soil dredging.
Watermaster Classic V
With a bigger Watermaster Cutter Pump together with a more powerful engine and other new features, the Classic V reaches 900 m3/h pumping output.
“It would be easy to increase dredging capacity by growing the size and weight of the dredger, but at the same time you would lose the excellent mobility, which is the key feature of an amphibious dredger. The challenge has been to increase dredging capacity while keeping the dredger compact, mobile and robust at the same time. Watermaster is a unique combination of these features” says Mr. Lauri Kalliola, Managing Director of Aquamec. The size of the Watermaster has stayed basically the same (20 tons) since the first generation model, Classic I, but the capacity has nearly tripled since then. “Watermaster Classic V is truly amphibious, not just in theory. It can work and move where others cannot, in the whole shallow water area from dry ground to 6 meters depth” adds Mr. Kalliola. The Classic V -model has gone through an extensive test program over the last two years. Several units have been operating in various environments for thousands of hours.
New innovative urban dredging concept and new features for hard soil dredging
Aquamec is a leading developer of urban dredging technology. A big part of the work Watermaster does globally is located in urban areas and done for environmental reasons, such as flood prevention and removing of polluted sediments. Watermaster’s patented Cutting Knife System for debris enables Watermaster to pump soils containing a significant amount of plastics and other urban trash and thus dredge in areas where only excavation work was previously possible. Other new features increase the pace of the urban dredging process further. The new hard soil cutter crown together with the bigger, more powerful hydraulic motor take Watermaster Classic V to a new capacity level in hard soil dredging, too.
New CEO for The Nautical Institute
John took up the COO post in November 2015 in which he has had overall responsibility for the Institute’s specialised training services, including the industry-standard Dynamic Positioning Operator (DPO) accreditation and certification scheme.
His 16-year seagoing career began in 1975, gaining command in 1987 and spending two years as a marine pilot at Walvis Bay. His extensive experience in maritime education has included senior positions at Warsash Maritime Academy and Flagship Training in the UK, CEO of Vanuatu Maritime College and Professor of Maritime Training at the Australian Maritime College in Tasmania.
As Chief Executive of The Nautical Institute, John will be managing the resources of an organisation that has 7,000 members and over 50 branches around the world. He has been a member of the Institute for 30 years.
On being appointed, John said: “I am thrilled and honoured to be given the opportunity to lead the next phase of development at the world’s leading body for maritime professionals – The Nautical Institute.”
He continued: “The Nautical Institute makes a real difference to professionalism through our publications, our qualifications and the special projects we lead. It is essential we continue to foster the benefits of membership and to encourage younger, fresher minds to make constructive contributions to what we mean by a ‘maritime professional’ in the 21st century.”
John’s appointment comes at a time of rapid change within the industry and increasing demand for the kind of professional standards and recognition that the Institute promotes. Part of his role will be to ensure that the organisation’s governance structure – comprising committees, Council and Executive Board of Trustees – fully represents the interests of its members.
“We will continue to engage positively, helpfully and constructively with individuals, regulators and employers in our ambition to make the maritime sector safer, cleaner and more effective,” John pledged.
He concluded: “I look forward to increasing our influence on matters of importance to our members and engaging with the worldwide community of maritime specialists.”
Umbrella agreement signed between COSCO Shipping and DEME
The umbrella agreement was signed on 31 October in the presence of Belgian Prime Minister Charles Michel and the Chinese Premier Li Keqiang. The attendance of both Heads of Government signifies the importance of the cooperation agreement and the Chinese vision concerning the transition to renewable energy.
DEME and COSCO Shipping are both market leaders in their sectors and have found one another in a joint venture active in offshore wind energy in China. The cooperation is in line with the Chinese climate vision and the development of renewable energy, which were recently incorporated in the 13th Five Year Plan (2016-2020) for social and economic development. The Chinese government wishes to significantly increase the installed capacity of offshore wind energy by 2020 and beyond.
As the largest shipping company in the world, COSCO Shipping wishes to enter this new market segment and has found a partner in DEME’s subsidiary GeoSea, with its extensive experience in developing, building and maintaining offshore wind farms.
Luc Bertrand, Chairman of DEME: “As a pioneering company, DEME is a global leader in offshore wind energy, offering overall solutions via EPCIM contracts (Engineering, Procurement, Construction, Installation & Maintenance). Thanks to the accumulated know-how and experience with complex infrastructure projects at sea, DEME can support and carry out COSCO Shipping’s offshore wind vision. The cooperation is also in line with the Group’s partnering philosophy, in which DEME expands its international activities through sustainable cooperation with local partners. Such combinations have repeatedly proved successful in DEME’s dredging and environmental divisions. The joint venture with COSCO Shipping is a win-win for both parties and will contribute to realising the ambitious Chinese climate objectives but creates also perspectives on further development and services in COSCO Shipping’s areas of expertise such as heavy lift transport, shipbuilding, etc ….”
Xu Lirong, Chairman of COSCO Shipping: “The cooperation with DEME is in line with our strategy, and I believe it is going to help fortify our cooperation with customers, extend our business chain, moreover push forward the sustainable and healthy development of renewable energy industry in China. COSCO Shipping Corporation Limited is a world-leading integrated logistics and supply chain service provider, with shipping, integrated logistics and relevant financial services as core businesses, featuring coordinated development of multiple industrial clusters. Focusing on four strategic dimensions, which are “scale growth, profitability, anti-cyclical capability and building a global company”, the Group highlights the “6+1” industrial clusters layout. The “6” is shipping, logistics, finance, equipment manufacturing, shipping services, and social services industrial clusters. The “1” means “Internet Plus” business based on business model innovation. This layout will help facilitate the integration of shipping factors and build a world-class logistics service provider.”