Key Developments: Wartsila Oyj Abp (WRT1V.HE)
37.08EUR
20 May 2013
€-0.19 (-0.51%)
€37.27
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€36.98
127,772
424,096
€39.00
€23.30
Latest Key Developments (Source: Significant Developments)
Wartsila Oyj Abp Receives Final Approval for AQUARIUS EC Ballast Water Management System
Wartsila Oyj Abp announced that the Company has received the Final Approval status from the International Maritime Organization's (IMO) Marine Environment Protection Committee (MEPC) for its Wartsila AQUARIUS EC Ballast Water Management System. The approval was granted at the MEPC's 65th session held at the IMO headquarters in London on May 13, 2013. The Basic Approval was granted in October 2012. Wartsila AQUARIUS EC is a modular ballast water management system for the treatment of ballast water. Full Article
Wartsila Oyj Abp Signs Service Agreement for Power Plant in Zambia-DJ
Dow Jones reported that Wartsila Oyj Abp has signed an Operations & Maintenance (O&M) agreement with Ndola Energy Company Ltd (NECL), a subsidiary of Great Lakes Energy NV. The agreement was signed in April and is for ten years. It will cover the full operations, maintenance and servicing of the NECL power plant located in Ndola, Zambia. The plant will be powered by a total of six Wartsila engines running on heavy fuel oil (HFO), a by-product supplied from the Indeni refinery, which is immediately adjacent to the plant. The plant is scheduled to commence commercial operations at the end of July 2013, and the electricity produced will be sold to Zambia Electricity Supply Company Ltd (ZESCO Ltd). Financial details were not disclosed. Full Article
Wartsila Oyj Abp Signs Service Agreement for Mozambique Power Plant
Wartsila Oyj Abp announced that it has signed an Operations & Maintenance (O&M) agreement with Central Termica de Ressano Garcia, owned by Sasol New Energy from South Africa and the Mozambique state utility, Electricidade de Mocambique (EDM). The three-year agreement was signed in April 2013 and covers the company's gas engine power plant in Ressano Garcia, Mozambique. The Central Termica de Ressano Garcia plant will be powered by a total of 18 Wartsila 34SG engines running on natural gas, with the gas being fed from the Pande and Temane gas fields. The power plant is scheduled for completion by May 2014, and the electricity produced will be sold to EDM. By taking responsibility for operating and maintaining this power plant, Wartsila will implement its practices to ensure that it delivers the design output with maximum efficiency and minimal environmental impact. Local employees of Central Termica de Ressano Garcia will also be trained as part of this agreement. Full Article
Wartsila Oyj Abp Maintains FY 2013 Financial Guidance
Wartsila Oyj Abp announced that its fiscal year 2013 financial guidance remains unchanged. The Company still expects its net sales for fiscal year 2013 to grow by between 0% and 10% and its fiscal year 2013 operational profitability (EBIT% before non-recurring items) to be approximately 11%. The Company reported fiscal year 2012 net sales of EUR 4,725 million. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 net sales of EUR 5,035.19 million. Full Article
Wartsila Oyj Abp to Provide Integrated Power, Propulsion and Positioning System for DP3 Offshore Rig in China
Wartsila Oyj Abp announced that the Company will supply a comprehensive, fully integrated power, propulsion and positioning system for a DP3 Dynamically Positioned offshore accommodation rig being built in China. The contract was signed in January with Cosco (Qidong) Offshore Co. Ltd, the yard building the vessel for Singapore based Axis Offshore. Wartsila is responsible for engineering, delivery and commissioning of the integrated solution and will also support the yard on-site during the installation phase. The vessel is expected to enter into service in February 2015 for worldwide operations. Wartsila will begin deliveries of its equipment in May 2013. Financial details were not disclosed. Full Article
Wartsila Oyj Abp to Supply Inert Gas Systems for Three Oil and Gas Sector Vessels-DJ
Dow Jones reported that Wartsila Oyj Abp is to supply inert gas systems for a Floating Storage Unit (FSU) to be located on Norway's Heidrun offshore oil and gas field, and for two shuttle tankers that will support the FSU. The FSU is owned by Statoil, the Norwegian state owned energy company, and the tankers by AET Tanker Holdings, the Singapore based petroleum transportation company. All three vessels are being built by Samsung Heavy Industries (SHI) in South Korea. The Wartsila contract with SHI was signed in February 2013. Delivery of the Wartsila equipment is scheduled for October 2013. The financial details were not disclosed. Full Article
Wartsila Oyj Abp to Supply Integrated Solutions for New Series of LNG Carriers
Wartsila Oyj Abp announced that it has received an order to supply a comprehensive solutions package for a series Liquefied Natural Gas (LNG) Carriers being built for Danish operator Evergas, a transporter of petrochemical gases and natural gas liquids. The ships are being built at the Sinopacific Offshore & Engineering (SOE) shipyard in China. In addition to LNG, the ships will be able to carry and reliquefy Ethane and LPGs with the cargo handling package supplied by the Company. In addition, the Company’s scope of supply of the integrated systems order includes the dual-fuel engines and propulsion equipment. The vessels will operate primarily on liquefied natural gas (LNG) using Wartsila dual-fuel engine technology. This will enable them to comply with current and anticipated environmental legislation, including the International Maritime Organization's (IMO) Tier III regulations. Full Article
Wartsila Oyj Abp to Design and Power Four New Offshore Support Vessels for Malaysian Owner
Wartsila Oyj Abp announced that the Company has been awarded a contract to design a series of four multi-purpose platform support vessels (MPSVs) for Armada Offshore MPSV Limited, a wholly-owned subsidiary of Bumi Armada Berhad, a Malaysian-based international offshore oilfield services provider. Wartsila will also supply a comprehensive solutions package for each of the vessels. The vessels will be built by a subsidiary of Nam Cheong Limited, Malaysia's Offshore Support Vessels builder, in one of its subcontracted yards, Fujian Mawei Shipbuilding Ltd, in China. The Company's contract with Fujian Mawei Shipbuilding Ltd yard was signed in March 2013. For each of the four vessels, this comprehensive solution contract comprises the basic customized design, the main power generation system, the propulsion system, the Wartsila Low Loss Concept (LLC) electrical system and the automation. Financial details were not disclosed. Full Article
Wartsila Oyj Abp Launches GasReformer
Wartsila Oyj Abp announced that it has introduced a product, GasReformer, which uses steam reforming technology to convert associated gas so that it can be used as fuel in Wartsila's range of gas fuelled engines. The Wartsila GasReformer is a product that enables gases produced during oil production, which by nature are rich in heavy hydrocarbons, to be converted into a methane rich product for utilization in Wartsila dual-fuel engines operating at full performance levels. Traditionally such gases would be flared and wasted. Full Article
Wartsila Oyj Abp to Set Up New Manufacturing Plant in Brazil
Wartsila Oyj Abp announced that the Company will set up a new fully-owned manufacturing facility in Brazil to meet the increasing market demand, particularly in the offshore market. Wartsila's investment in the new facilities is approximately EUR 20 million. The manufacturing premises will be based on a multi-product factory concept for the assembly and testing of Wartsila generating sets and propulsion products. The new manufacturing plant will be located approximately 300 kilometers north of Rio de Janeiro in the Acu Superport Industrial Complex. The construction of the 4,000 square meter plant, with its own waterfront and quay, will commence in April 2013 and it is scheduled to be fully operational by mid 2014. The new delivery centre is expected to employ close to 100 people. Full Article
STXNEWS LATAM-Brazil's LLX wins port contract from Finland's Wartsila
Wartsila Oyj Abp, a Finnish maker of power plants and ship propulsion systems, signed a contract to lease land and build a 20-million-euro ($26 million) factory at Brazil's Port of Açu, the company said in a statement. The Port of Açu, 300 kilometers (186 miles) northeast of Rio de Janeiro, is owned and being built by LLX Logistica SA, the port and real estate group controlled by Brazilian billionaire Eike Batista. The port is home to Batista-controlled shipyard OSX Brasil SA and is expected to
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