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which carries out repairs and new construction, for a site at Dubai Maritime City (DMC), which DWD manages. Dubai Shipbuilding plans to transfer some of its existing operations from Jadaf to the 11,000m2 DMC site.
Yards Investec funds Gibdock
buy-out Investec Growth & Acquisition Finance (GAF) has provided finance to US private equity fund, MVC Private Equity, to undertake a £28 million (US$45.31million) management buy-out of Gibraltar shiprepair specialist, Gibdock. Gibdock is the holding company for the ex-Royal
Navy shipyard in Gibraltar and offers repair, maintenance and conversion facilities from its three drydocks and protected deepwater port. John Clifford, Investec Growth & Acquisition Finance, commented: “MVC is an impressive sponsor with a working knowledge of this niche sector, and the management team led by Joe Corvelli has clearly demonstrated an excellent track record and the skills required to drive future growth.” Gibraltar is located at the crossroads of the
Mediterranean and Atlantic shipping lanes resulting in minimum deviation and downtime for ships operating in these waters. Clifford added: “First-class facilities, a highly qualified and skilled work force, and a year round climate ideally suited for outdoor work, makes Gibdock a very attractive option for international ship owners and operators requiring time-critical and high quality repair and maintenance services.”
Cruise Mivan opens Southampton office
Northern Ireland-based Mivan has opened an office on the south coast of England. The Southampton base will help the company to further service the ongoing maintenance and interiors requirements of clients in the cruise industry in particular. This year to date Mivan has secured over £4
million (US$6.47million) of cruise ship outfitting orders. The largest of these contracts is the £1.7 million (US$2.75million) refit of
the Crystal
Symphony for Crystal Cruises, a two week project carried out at Blohm + Voss, Hamburg. Other notable contracts include Mivan’s first project with Pullmantur Cruises for the refit of Horizon as well as Saga Sapphire refit for Saga Shipping.
10 Yards Qatar link for Harris Pye
Te UK’s Harris Pye Group has signed an agreement with Sora Marine services to cooperate on projects
Shiprepair and Conversion Technology 2nd Quarter 2012
Cruise Cruise lines sign engine
M&R deals Two leading cruise ship groups have signed long term engine maintenance arrangements with original manufacturers. Norwegian Cruise Line (NCL) has contracted MAN
Diesel & Turbo to carry out engine maintenance on nine of the fleet’s cruise ships. Te service agreement, which is worth around US$30 million, runs for four years and is being handled by the MAN PrimeServ service office in Fort Lauderdale, Florida. During the term of the agreement, two further Norwegian cruise ships will be put into service which and these will then also be incorporated into the contract. Dr. Stephan Timmermann, MAN Diesel & Turbo
executive board member says: “It is one of the first service agreements of its kind with one of our major customers and constitutes a key aſter-sales success in the very exciting cruise liner business.” To date, 52 MAN engines with 542 cylinders from various series have been produced for Norwegian Cruise Line’s vessels, including the world’s first Common Rail conversion. Finland’s Wärtsilä has signed a five-year service
agreement with US-based Prestige Cruise Holdings, the parent company of Oceania Cruises and Regent Seven Seas Cruises. Te deal covers six vessels, with a total of 27 Wärtsilä engines, and has the option to include further vessels in the future. Te declared aim of the agreement is to facilitate the
process of making cost projections in connection with the maintenance of Prestige’s cruise fleet, while also minimising downtime during routine maintenance and overhauls. Te agreement provides for a broad scope of services, including maintenance planning, spare parts supply, training, technical surveys, condition monitoring and workshop services. According to Wärtsilä the agreement is one of
the most comprehensive yet for the cruise industry. Te company says it has assumed a large part of the responsibility for service and logistics, while offering a streamlined cost structure. In another initiative relevant to shiprepair and
conversion sector, Wärtsilä has expanded its boiler services business offering by acquiring MMI Boiler Management, a Singapore-based company specialising in the service and maintenance of boilers for marine and industrial applications.
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