Finance News

Jim Milne, chairman and managing director of Balmoral Group (Photo: Balmoral Group)

Balmoral Invests in Blaze Manufacturing Solutions

growth.“Our 40 years’ of engineering design and manufacturing experience will be of great benefit to Blaze I’m sure, as well as our network of contacts in the oil and gas and offshore renewables markets.”Blaze plans to use the support to expand its global reach. Ann Johnson, finance director with the company, said: “Balmoral’s investment is much more than a cash injection. Their journey from small start-up in 1980 to an internationally recognized brand, leading its sector, is something that we aim to learn from.“We have seen international success to a degree

© glimpseofsweden / Adobe Stock

Protecting Subsea Cabling

to find the problem sooner, giving them the opportunity to cover the cable back up before significant damage occurs.DAS: The futureThe Global Wind Energy Council estimates that there’s nearly 19 gigawatts (GW) of offshore wind turbines installed around the world, with Bloomberg New Energy Finance forecasting that capacity will grow hugely to 115 GW by 2030.Although subsea cable networks are not a particularly visible part of offshore wind farms, they’re the most vulnerable. Without monitoring technologies such as DAS, it’s difficult for operators to assess the integrity of these

Pic: Saab Maritime Traffic Management

Saab Supplies PMIS to Port of Pascagoula

ensured a smooth transition".Delivering the software on the latest platform ensures optimal support and a better capability to meet the port’s future needs.“It was time for us to upgrade our current software from Saab that we had been using for the past 14 years", said Joe Abston, Finance Manager of Port of Pascagoula."With the newer software, we expect our ship management and billing processes to become the most streamlined that it has ever been by providing time saving measures and accuracy for accounting and reporting data. It is really important to have a software that fits

Photo: Maritime and Port Authority of Singapore

Singapore Launches digitalPORT@SG

Singapore Deputy Prime Minister and Minister for Finance, Heng Swee Keat, DPM Heng announced the launch of the Maritime and Port Authority of Singapore’s (MPA) ‘digitalPORT@SG’, a digital Portal for One-stop Regulatory Transactions, which is Singapore’s maritime single window system that will serve as a one-stop portal for maritime regulatory and port services transactions.It will be developed in two phases: Phase 1 – users can obtain approval for all arriving and departing ships from three public agencies – MPA, the Immigration & Checkpoints Authority and the

Nate Guy  (Photo: Greensea)

Greensea Expands Workforce

, creator of OPENSEA, the universal open software architecture for the marine industry, recently added three key personnel to its team to address current and future growth and to support its core business strategies. Positions have been created to support existing needs in business development, finance, and program management. Greg Probst comes to Greensea as Vice President, Sales and Business Development, having worked at Teledyne Marine where he drove sales and business development in the US defense sector. Chris Chase, CPA, joins Greensea as Financial Controller after several years with Fortune

The Kraken KATFISH graced the cover of the June 2019 edition of Marine Technology Reporter, the world's largest circulation b2b publication serving the subsea industry. To read the full story visit:

Kraken Bids on International Mine Hunting Upgrade Program

signing with Kraken is subject to several factors including the expiry of the standstill period (October 14, 2019) and Kraken entering into an industrial offset contract with the government business agency. In addition, the contract signing is subject to political approval, including approval by the Finance Committee of the customer’s Parliament. Kraken expects to provide additional customer and contract detail in the coming weeks.The Kraken KATFISH graced the cover of the June 2019 edition of Marine Technology Reporter, the world's largest circulation b2b publication serving the subsea industry

Image: Department for Transport, UK

UK Support Low-Carbon Maritime Technology

from shipping by at least 50% in 2050. This latest investment will help ensure our great maritime nation remains sustainable years into the future."The government is also announcing a push to bring financiers and budding entrepreneurs together to help innovation flourish in the sector.The new Green Finance for Maritime conference in Summer 2020 will bring together representatives from the government, financial services and technology sector to build relationships and broker new deals. This will help cement the UK’s position as a global hub for the provision of green finance and move the UK even

Dr. Mark Abbott, President & Director, Woods Hole Oceanographic Institution (WHOI). Photo: Greg Trauthwein

MTR100: #5 Dr. Mark Abbott, WHOI

Armstrong;  and the coastal vessel Tioga, small boats. It also have several underwater vehicles, from the human-occupied submersible Alvin; to ROVs, AUVs, hybrids and towed vessels.But the value proposition of WHOI far transcends the numbers, as WHOI serves as a hub for technology, business and finance, a rallying point for organizations of all sizes and individuals to colloborate on next generation solutions to some of the world’s most pressing problems in and around its waterways. This was on full display in July 2019 when some of the brightest minds in vehicle autonomy spent two days

 Richard Minogue  (Photo: FarSounder)

FarSounder Hires Minogue

FarSounder has announced Richard Minogue as Office & Finance Administrator. He will work closely with the CEO on accounting, corporate contracts, and human resources, in addition to providing administrative support to the FarSounder team.Minogue joins FarSounder with a background in human resources and finance. Much of his career has been at Brown University where he developed his skills supporting the School of Engineering.

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Atlantic Offshore Wind: Favorable Winds for Maritime

progress for OSW farms. This is also the case for what type of visa should be issued to specialists serving aboard OSW support vessels. (This will be addressed in the next issue of Maritime Reporter & Engineering News. )The current end of the PTC is also discouraging to developers who have to finance their own projects—albeit with some state support. The Department of Energy loan guarantee program and port infrastructure grants are other finance options.  ConclusionsOffshore wind is coming to the United States and a maritime community near you, accompanied by good jobs and clean renewable

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