Tag Archives: Veecraft

Weekly Press Review – 13 March 2017

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Sea Harvest is set to list on the Johannesburg Stock Exchange (JSE) this month, making it the second fishing company to list this year after Premier Food and Fishing (PFF).

According to the press Sea Harvest is a subsidiary of Brimstone Investment and is expected to retain its controlling stake in Sea Harvest after the listing, with an interest of more than 50 percent.

A bidding war is on for the ferry trade from mainland Cape Town to Robben Island.

According to the press, two new ferry tenders are embroiled in a battle over potential financial spoils. The vessel at the centre of the controversy is the Madiba 1, a R60 million, 200-seater ferry.

Butana Komphela, who has shares in the Madiba 1, also chairs a consortium bidding for a back-up ferry contract, currently shared by several companies based at the V&A Waterfront in Cape Town.

A rival bidder claims the MEC’s political connections could help the consortium secure the deal.

A second tender for a new-build ferry is also causing controversy after it was reported in the Sunday Times that the tender had been awarded to Damen Shipyards, even with a bid R20 million higher than rival bids from Veecraft and Nautic Africa.

Damen has not commented.

According to an article in the Cape Times this week ghost ships may be the way forward for the shipping industry. With self-driving motor vehicles set to be a real prospect by 2020, the shipping industry will soon find it necessary to follow the same path.

One of the key manufacturers in the unmanned vessel space, Rolls Royce, expects remote controlled vessels to be in use within the next 10 to 15 years.

Internationally the elimination of human input is regarded as one of the key benefits of automation, but with the scarcity of jobs in the South African market one would have to look closely at the viability of such an option in developing countries.

Weekly Press Review – 12 December 2016

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The big maritime news this week is the announcement that African Marine Solutions Group (AMSOL) has acquired the marine solutions company Smit Amandla Marine.

According to the press the sale of the Smit Amandla Marine to AMSOL, which is owned by a consortium including Smit Amandla Marine management and employees, the Mineworkers Investment Company, Pan-African Capital Holdings and RMB Ventures, is in line with a stated commitment by shareholders to capacitate the company over time and return it to 100 percent South African ownership.

Paul Maclons, AMSOL Managing Director, said, “We are excited to build a great South African company and to remain relevant to our clients in the energy, mining, ports and maritime sectors into the future.”

Mary Bomela, CEO of the Mineworkers Investment Company, believes the acquisition supports the objectives of Operation Phakisa. “In facilitating the transformation of the maritime economy in South Africa, AMSOL is now in a unique position to support the continued growth and transformation of the sector in the region – with the transaction including Smit Amandla Marine’s business in Namibia and Mozambique.”

Also making headlines this week is the announcement that South African company Veecraft, specialists in new vessel construction, will be selling two advanced specification security vessels after clients defaulted on payment.

The sale will take place in Cape Town and the vessels could fetch up to US$6 million each.

Ariella Kuper, managing director of Clear Asset who is assisting Veecraft with the urgent sale of the vessels says, “International companies are showing interest in these vessels.”

Finnish power systems company Wartsila is among several companies eyeing opportunities in South Africa’s mooted gas-to-power independent power producer (IPP) programme.

According to the press the programme is expected to be the catalyst for the development of the gas industry in South Africa.