TOP Ships Signs New TC with BP
Greece-based ship-owning company TOP Ships announced that it has agreed a new time charter employment contract for 2 years with BP Shipping Ltd for its product/chemical tanker M/T Eco Revolution.The international owner and operator of modern, fuel efficient “ECO” tanker vessels currently focusing on the transportation of crude oil and petroleum products, said in a press release that the new time charter will commence in January 2019 immediately after the expiry of the present…
First of Six New LNG Carriers Delivered to BP
BP Shipping has taken delivery of British Partner, the first of a half dozen new 173,400 cubic meter capacity liquefied natural gas (LNG) carriers to be delivered through 2018 and 2019 from the DSME shipyard in South Korea.BP Shipping, which launched a fleet rejuvenation program in 2016 that includes 32 new vessels for delivery over a three-year period, says the six new Partnership class ships will increase its ability to transport LNG in emerging new markets, such as Pakistan, Jordan, Egypt and Bangladesh, in addition to established markets, such as India, China, the U.S.
Top Ships Extends Time Charter of M/T Eco Fleet
Top Ships, an international owner and operator of modern, fuel efficient "ECO" tanker vessels focusing on the transportation of petroleum products, announced that it has extended the firm period of the time charter of M/T Eco Fleet with BP Shipping Limited for six months. Following the signing of the above mentioned time charter party extension, the Company’s charter coverage is 100% of the operating fleet including vessels partly owned through joint ventures in the year 2018. The charter coverage of the operating fleet for the years 2019, 2020 and 2021 will be 83%, 65% and 20% repectively.
Texas A&M Galveston Degrees Lead Six Aggies to BP Shipping
Jenny Long was an Aggie with a challenge. She had an important job opening to fill with her company, BP Shipping Americas, located in Chicago. As the regional voyage operations superintendent for BP Shipping, it is her job to fill it with the best and most qualified candidates. Long graduated from Texas A&M University at Galveston with a Marine Transportation degree and a minor in Maritime Administration.So, when she has an open position, one of the first places she contacts is her alma mater, Texas A&M Galveston. “BP Shipping has an open and fair hiring process” says Long.
BP’s LNG Carrier Fleet is Growing
BP said it will take delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers in 2018 and 2019 to support its expanding global LNG portfolio. BP’s finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers. The vessels will join BP’s exixting fleet to help service a 20-year liquefaction contract with the Freeport LNG facility in Texas, as well as other international LNG projects in BP’s global portfolio. “These vessels will significantly increase BP’s ability to safely transport LNG to anywhere in the world…
Capital Product Bags 3 MR Charters
Capital Product Partners, an international diversified shipping company, announced that it has secured new time charter employment for three Medium Range (MR) Product Tankers. The M/T 'Amadeus' (50,108 dwt, IMO II/III Eco Chemical/Product Tanker built 2015, Samsung Heavy Industries (Nigbo) secured employment with Repsol Trading for one year (+/- 30 days) at a gross daily rate of $14,500. The charterer has the option to extend the time charter for an additional year (+/-30 days) at a gross daily rate of $14,750. The new charter will commence in October 2017.
Capital Product Partners Sings Pact for $460 Mln Refinancing
Capital Product Partners entered into a firm offer letter for a senior secured term loan facility of up to $460.0 million with HSH Nordbank AG and ING Bank as mandated lead arrangers and bookrunners and BNP Paribas and National Bank of Greece S.A. as arrangers. The lenders also include Alpha Bank S.A., Piraeus Bank S.A. and Skandinaviska Enskilda Banken AB (Publ). The closing of the credit facility is subject to finalization of the long form loan documentation. "We intend to use the net proceeds of the loans under the New Facility…
CSA Awards Vessel Safety
The U.S. maritime industry publicly recognized the merchant mariners responsible for safe ship operations at the Annual Safety Awards Luncheon held on June 7, 2017. In all, 211 people, representing 53 companies and their subsidiaries attended the annual industry-sponsored event where 1,582 vessels with 10,604 cumulative years of accident free operation were recognized. Since 1958, the Chamber of Shipping of America (CSA) has also sponsored the Safety Achievement Award program which recognizes outstanding feats of safety that contribute to saving a life, a ship or other property.
BSM Appoints Two Managing Directors
Shipmanagement company, Bernhard Schulte Shipmanagement (BSM) has announced the appointment of two new Managing Directors: Neil McNeil will head BSM British Isles based in the Isle of Man, and Mingfa Liu will be his BSM China counterpart in Shanghai. Prior to joining BSM, McNeil was Regional Fleet Manager (Americas) for BP Shipping and latterly Managing Director at V Ships USA. McNeil also spent 13 years at sea with Denholm Ship Management and BP Shipping on a variety of vessels rising to Chief Officer.
Capital Product Partners Declare Cash Distribution
Capital Product Partners L.P. a Marshall Islands master limited partnership and an international owner of modern tanker, container and drybulk vessels today announced that its board of directors has declared a cash distribution of $0.2385 per common unit for the fourth quarter of 2015 ended December 31, 2015. The fourth quarter common unit cash distribution will be paid on February 12, 2016, to unit holders of record on February 5, 2016. All vessels of Capital Product Partners are under period charters to BP Shipping Limited, Cargill International S.A., CMA-CGM S.A., Cosco Bulk Carrier Co.
BP Shipping Marks its 100th Year
BP Shipping today celebrates its 100-year anniversary, making it the longest continually operating company in the BP group. Formed on April 30, 1915 as the British Tanker Company, the business has adapted to significant world events including two world wars, the Great Depression, closures of the Suez Canal, and the impact of oil nationalisations on the world economy and the movement of oil and gas. BP Shipping has also played its role in the evolution of safer and more environmentally sustainable shipping practices including inert gas systems…
BP Shipping Turns 100
BP Shipping celebrated its 100-year anniversary yesterday, making it the longest continually operating company in the group. Formed on April 30, 1915 as the British Tanker Company, the business has contributed to two world wars, the Great Depression, the closures of the Suez Canal, and the impact of oil nationalisations on the world economy and the movement of oil and gas. It has also played a role in the evolution of safer and more environmentally sustainable shipping practices including inert gas systems, crude oil washing and double hulling.
Drydocks World Chief in Top 50 Maritime Greats' List
Khamis Juma Buamim, Chairman Drydocks World & Maritime world has been recognized by Tanker Shipping & Trade as being among the top 50 most influential people in the tanker industry worldwide & is one of only 4 Chairmen globally to be so recognized. The publications annual survey profiles 50 of the sectors most influential leaders whose range of achievements is broad, covering most, if not all facets of the industry. What is not in doubt is that all those profiled represent outstanding examples of leadership…
Interview: Oil Spill Repsonse Insights from MSRC's Benze: Steven T. Benz, President and CEO, Marine Spill Response Corporation (MSRC)
As President and CEO of MSRC, Steve Benz presides over the largest oil spill response company in the United States (and worldwide). In that position since January 1996, he has during that tenure, overseen several critical phases in the Company’s evolution. These include a major restructuring in the late 1990s to make it more competitive; growth throughout the 2000-2009 period, including acquisition of several companies; leadership in overseeing MSRC’s role in responding to the 2010 BP spill in the Gulf of Mexico…
Videotel Expands LNG Training
With its latest offering, Videotel said now provides a more extensive portfolio of training for the LNG sector. Working with experts across the globe – BP Shipping, Shell, Maersk and SIGTTO, among others – the company said it has created a package of training covering the essentials required when operating in this important market. Nigel Cleave, CEO of Videotel Marine International, said, “Twice as many LNG carriers are operating today compared with five years ago, leading to a growing demand for quality training in the sector.
Inaugural IMarEst Marine Electrical and Control Systems Saftey Conference
Ships are becoming increasingly dependent on complex electronic equipment and electrical power systems, with incidence of engine failure and blackouts increasing. Safety and reliability are paramount, as will be discussed and debated at a new conference taking place in early October. With just over a week before the inaugural Marine Electrical and Control Systems Safety Conference (MECSS 2013) organized by the Institute of Marine Engineering, Science and Technology (IMarEST) opens in Amsterdam, speakers from Germany, Italy, Japan, the Netherlands, U.K. and U.S.
POLB 'Green Flag', 'Green Ship', Program Awards
The Port of Long Beach's Green Flag and Green Ship annual awards honored 20 shipping lines for efforts to improve air quality. Efforts to improve air quality locally were accomplished by slowing ships down or deploying cleaner vessels, or both. The Port’s Green Flag Program was created in 2005 and participation today is nearly universal. In 2012, almost 96 percent of all ships calling at Long Beach slowed to 12 knots within 20 nautical miles of the Port. In 2009, the Port added the 40 nautical mile option and last year, more than 83 percent of vessels slowed from 40 nautical miles.
Guide to Human Element in Shipping Published
Aimed at everyone in the shipping industry, the Guide explains the fundamental aspects of human behaviour – 'The Human Element'. Based on a wide range of consultations with maritime organisations, the guide was produced by organisational psychologists gs partnership ltd, for consortium partners UK Maritime & Coastguard Agency, BP Shipping,Teekay Marine Services, and the Standard P&I Club. Aimed at everyone in the shipping industry, the Guide explains the fundamental aspects of human behaviour, which together constitute what the commercial maritime sector calls "the human element".
BP Order 13 New Tankships
BP Plc confirms an order for 13 of the vessels, 2012’s largest tankship shipbuilding order. According to information obtained by Bloomberg the order, placed with Changwon, South Korea's STX Offshore & Shipbuilding Company, includes three Suezmax ships, each able to hold 1 million barrels of crude, and 10 smaller Aframaxes. BP Shipping Ltd., based in Sunbury-on-Thames, England, manages a fleet of more than 50 vessels that carry crude, oil products and liquefied natural gas. Source: Bloomberg
BP Contract Jeppesen Voyage Planning
Jeppesen optimization solutions to be used aboard BP's LNG, Product & Crude Oil vessels to increase efficiency, reduce risks & save fuel. The contract will result in the installation of Jeppesen’s Vessel and Voyage Optimization Solution (VVOS) on 52 BP vessels carrying crude oil and LNG shipments globally. The contract also provides for integration of Jeppesen’s FleetManager shoreside component into BP Shipping operations. FleetManager will be used to track BP’s owned and chartered vessels.
North American ECA Distance Calculator Introduced by AtoBviaC
The imminent tightening of fuel control areas around the US is providing ship operators with a new set of challenges to face in the drive for cost effective operations. AtoBviaC has provided the answer to cost control during affected voyages with its new Port to Port – Online version of the BP Shipping Marine Distance Tables. “Our research has shown that it is rarely cost effective or practical to avoid these routes entirely,” said Captain Trevor Hall, Director of AtoBviaC. “It is…
Pirate Attack Avoidance Routing Software Now Available
AtoBviaC Plc announces a new anti-piracy routing tool in its popular subscription 'BP Shipping Marine Distance Tables'. The AtoBviaC tool enables the ship operator to select routes based on the most current intelligence, and accurately calculate the time and fuel implications of the voyage. "In many cases this can work out to be considerably more accurate than the other available options and provides a level of self-determination that is missing from other solutions,” said Captain Trevor Hall, Director of AtoBviaC.
BP Shipping Charters Extended
Capital Product Partners L.P. (Nasdaq: CPLP) announced the extension of the charters of both the M/T Agamemnon II and the M/T Ayrton II to BP Shipping. The M/T Agamemnon II (2008 STX Offshore & Shipbuilding Co., 51,238 dwt) was fixed to BP Shipping at a daily charter rate of $14,000 net for 12 months (+/- 1 month) and the charter is subject to a profit sharing arrangement which allows each party to share, at a 50/50 percentage, additional revenues earned for breaching the Institute Warranty Limits.