"Ship-Spotter" of the Day
Barry Parker, contributor to Maritime Reporter & Engineering News and MarineNews magazines, is – like many people around the world – sequestered and working from home. He is our designated “ship spotter” for the day.In the maritime business, most of us have been adept at working from home (or from remote locations). Still, with the precautions being taken to prevent the spread of the Coronavirus (Covid 19), remaining at home – in my case, on the North Shore of Long Island, has not been without its challenges.
Chembulk Tankers to Join Womar
Chembulk Tankers signed commercial management agreements for its entire fleet of owned and chartered stainless-steel chemical tankers to enter commercial pools managed by Womar Logistics. “Chembulk’s commercial shift to the Womar chemical pools places our quality vessels in an established and growing revenue sharing platform, providing commercial efficiencies, logistics flexibility and a seamless continuation of the performance our customers expect from Chembulk vessels," said Bart Kelleher, CEO, Chembulk.
Madely Joins Ecochlor as VP of Global Service
Ecochlor announced the addition of Michael "Mick" Madely to fill a newly created position of Vice President of Global Service. Madely has had a full career in the global maritime industry with over 25 years of experience in senior management positions in both Commercial and Technical roles. He has extensive experience in Asia and the Middle East with a hands-on approach in leading sales and operations of world class capital equipment and engineering providers. For the past 10 years…
Chembulk Tankers Announces Leadership Changes
Chembulk Tankers announced on Wednseday that Bart B. Kelleher has taken over as Chief Executive Officer for David Ellis, who has resigned for personal reasons. Ellis will be available to the company through January 31, 2020.Kelleher has held senior executive roles within Chembulk since joining the company in early 2016, initially as Chief Strategy Officer and then Chief Financial Officer in early 2019. Prior to joining Chembulk, Kelleher was the Chief Operating Officer for Principal Maritime Management and held roles in investment banking…
Signal, Heidmar Join Forces on Tanker Fleet
Greek commercial ship management company Signal Maritime Services and tanker vessel trader Heidmar join forces to deliver commercial management to the global tanker market.Both companies have agreed a milestone partnership, under which Signal will manage a joint tanker fleet using its proprietary technology and analytical approach, said a press release.Signal’s Artificial-Intelligence-backed solution to pool management has consistently delivered superior earnings to its pool members…
Pangaea Orders 2 More High Ice Class Ships
Pangaea Logistics Solutionsexpanded its order for high ice class post-panamax dry bulk 95,000 dwt. vessels at Guangzhou Shipyard International (GSI) from two to four vessels.The four ships, two for delivery in April and May 2021 and two for delivery in November 2021, will be used to service Pangaea's Arctic customer base. The two added ships, also designed with Ice Class 1A specifications, will cost $37.7 million each.Pangaea also announced a series of committed transactions to finance the ships through a $129.2 million bareboat charter structure.
FDX Offshore Acquires Womar Logistics
Connecticut-based maritime finance company FDX Offshore has acquired Singapore’s tanker pool operator Womar Logistics. Watson Farley & Williams (WFW) advised FDX Offshore on its acquisition.The partnership intends to expand its chemical tanker pools as well as initiate and grow independent pools in other classes of ships.FDX is led by Managing Partner Jake Scott and Partner Andy Tuchman who will both become Womar board members. Formed in 2013, FDX has been providing financial advice and capital sourcing to maritime and energy projects.Incorporated in early 2009…
Diamond S Shipping Sells Two Vessels
Connecticut-headquartered Diamond S Shipping Group Inc. (DSG) announced that it has agreed to sell two of its 2008-built medium-range product carriers as part of its fleet renewal initiatives.The vessels - the Atlantic Aquarius and Atlantic Leo - are expected to be delivered in the third quarter or early the following quarter, said the owners and operators of crude and product tankers, which provide seaborne transportation of crude oil, refined petroleum and other products in international shipping markets.Diamond will recognize a non-cash charge of about $9.5 million per vessel this quarter…
Eagle Bulk Moves EU Ops to Copenhagen
The US-based shipowner-operator engaged in the global transportation of drybulk commodities, Eagle Bulk Shipping announced the establishment of a new commercial office in Copenhagen, relocating from its existing base in Hamburg.The Copenhagen office will be led by Mathias Groenvald, who recently joined Eagle Bulk, said a press release from the player in Supramax / Ultramax segment.Groenvald previously served as Senior Vice President, Head of Chartering for Clipper Bulk, and has over 30 years of drybulk industry experience.Gary Vogel…
Trade Fears Drag Stocks, Yuan at 10-Year Low
NEW YORK, Aug 5 (Reuters) - Stock markets around the world fell hard on Monday on fears that China's willingness to let the yuan slide in response to the latest U.S. tariff threat could further aggravate trade-related tensions between the world's two largest economies.China on Monday let the yuan tumble beyond the 7-per-dollar level for the first time in more than a decade, in a sign Beijing might be willing to tolerate further currency weakness after U.S. President Donald Trump vowed last week to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept.
U.S. DOT Names Nine Marine Highway Projects
The U.S. Department of Transportation’s Maritime Administration (MARAD) today announced the designation of nine Marine Highway Projects and a Marine Highway Route that will benefit Connecticut, Florida, Michigan, New York, Oregon, Texas, Virginia, Washington State and American Samoa. Marine highways are navigable waterways that can be used as alternate options to traditional shipping methods. “The designation of marine highways by Congress will help move cargo and people to help grow the economy and shift freight off of congested highways,” said Transportation Secretary Elaine L. Chao.
SHORTSEA SHIPPING: All the Right Moves (Finally)
Marine Highways Gain Traction in the Intermodal Supply Chain.In the United States, landside infrastructure is at a crisis point. Congestion at the big hub ports, exacerbated by imperfect intermodal interfaces with surface transport serving cargo hinterlands is at the heart of the matter. As politicians bicker over a possible infrastructure package, the Highway Trust Fund, funded by taxes on gasoline and diesel fuel, has continued its downward journey towards further deficits (now $144 billion). And, where countless U.S.
Connecticut Port Authority: the future is now
2019 brings new missions, strategies and new optimism for this three-port Northeast gateway.The Connecticut Port Authority began operations in 2016. The quasi-public agency’s mission is to grow Connecticut’s economy and create jobs by strategically investing in the state’s three deepwater ports and small harbors. In a nutshell, the Connecticut legislature teamed up with the governor to create the Connecticut Port Authority by statute in 2014.When it fully stood up, CPA’s first full time employee was none other than Evan Matthews, CPA’s Executive Director. He got right to work.
CPA Announces P3 Investment in State Pier
Connecticut Port Authority and Governor Lamont announced $93 million public-private investment in State Pier to develop Connecticut into the center of New England’s offshore wind industry.May 2, 2019 was a historic day for job creation and economic growth across southeastern Connecticut.The Connecticut Port Authority, Gateway Terminal, Eversource and Ørsted announced a partnership to revitalize State Pier and establish New London as a major northeast center for the growing offshore…
CPA Opens New Round of SHIPP Grants
The Connecticut Port Authority (CPA) issued a Request for Applications (RFA) for project funding under the Small Harbor Improvement Projects Program (SHIPP), a competitive grant program managed by the CPA. Under SHIPP, Connecticut municipalities and other properties, in or adjacent to waters of the state, may apply for matching funds to conduct a project that improves the infrastructure or management of their local waterway.The actual selection of grant recipients will take place…
MARAD Awards $6.7m in Marine Highway Grants
The U.S. Department of Transportation’s Maritime Administration (MARAD) has announced $6,790,000 in grants to three Marine Highway projects. The funding, provided by MARAD’s Marine Highway Program, will go towards enhancing existing services in Louisiana and Virginia as well as supporting the development of a new project in New York.“These grants will expand the use of our country’s waterways, which are essential to our economic growth and vitality,” said U.S. Secretary of Transportation Elaine L. Chao.
CPA Selects GZA GeoEnvironmental for Work
Connecticut Port Authority announced that GZA GeoEnvironmental will provide design and engineering solutions for repairs and modifications of Pier 7 located at Fort Trumbull.Working closely with the Connecticut Department of Energy and Environmental Protection (DEEP) – the facility owner – the Connecticut Port Authority is investing in the project and will oversee GZA GeoEnvironmental during the study.Pier 7 is an important piece of Connecticut’s maritime infrastructure, and…
Cruising: Small is Beautiful
Cruise shipping, at the intersection of maritime and hospitality industries, continues to be vibrant. The Cruise Lines International Association (CLIA), the industry’s major trade association, forecasts that the ocean cruise segment will draw 30 million passengers in 2019, up from 28.2 million in 2018. At the start of the decade, in 2010, the comparable count was 19.1 million passengers. CLIA members will have 272 vessels operating in 2019- with 18 ocean going vessels set to begin service.
Sea States: Documentary on the Shipping Industry to debut in Spring 2019
Sea States, a new documentary film on the importance of the shipping industry is currently under production by Third Wave Films. Endorsed by the Connecticut Maritime Association, and the Marine Industry Foundation, the film is being funded by key stakeholders in the maritime community.Sea States will show how shipping is the life blood of our global economy. Despite the fact 90% of all consumables arrive by ship, the public remains unaware of the value of this hidden, yet massive industry.
Quadrise Fuels Signs MoU with Freepoint Commodities
Fuel oil technology firm Quadrise Fuels International said it had signed a non-binding memorandum of understanding with commodities trader Freepoint Commodities to provide commercial opportunities for its MSAR fuel technology product.The Synthetic fuel developer said that this followed the effective end of a trial in Saudi Arabia for a combustion boiler project that would have used MSAR due to the lack of an agreement between the utilities involved. MSAR is a low viscosity oil in water emulsified synthetic HFO.Freepoint…
XPO profit buoyed by strength in 'last-mile' deliveries
XPO Logistics, one of the largest global freight transportation and warehousing companies, reported a jump in quarterly profit on Wednesday, fueled by shipments of heavy and bulky items and strong demand for e-commerce order fulfillment.Greenwich, Connecticut-based XPO is North America's largest provider of "final-mile" deliveries of heavy goods like Home Depot barbecue grills and Best Buy televisions from warehouses direct to homes.
BW LPG: Proposal to Combine with Dorian Withdrawn
BW LPG Limited (BW LPG) announced that it has withdrawn its proposal to combine with Dorian LPG Ltd. (Dorian). BW LPG will also withdraw the candidates it previously intended to nominate to stand for election to the Dorian board at Dorian’s 2018 Annual Meeting of Shareholders.BW LPG also announced that the following letter has been sent on October 8, 2018 to the Chairman, President and Chief Executive Officer of Dorian:Mr. John HadjipaterasChairman, President and Chief Executive OfficerDorian LPG Ltd.c/o Dorian LPG (USA) LLC27 Signal RoadStamford…
CPA Selects Gateway as New Operator of State Pier New London
The Connecticut Port Authority (CPA) has reached an agreement with Gateway New London LLC for the long-term operation of State Pier in New London. The decision comes after a rigorous competitive selection process designed to determine the highest and best use of State Pier and to find a partner with the capability to deliver expanded economic opportunity to the state.Under terms of the 20-year agreement, Gateway assumes operation of State Pier on May 1, 2019, with an option at the end of the term for the CPA to extend for two additional ten-year periods.
U.S. Army Corps Selects 10 Beneficial Use Pilot Projects
At the end of December, the U.S. Army Corps of Engineers (ACE) announced its selection of ten dredging projects that will form the core of a pilot program to advance the beneficial use of dredged material.The recent U.S. Army Corps of Engineers’ announcement culminated a program required by Congress, established within the Water Resources Development Act (WRDA) of 2016, specifically Section 1122. Congress directed that the ten pilot projects selected were required to present environmental…
Mass. Maritime Honors IRI's Gallagher
William Gallagher, President of International Registries, to be named Massachusetts Maritime Academy's Maritime Person of the Year.Since 1995, Massachusetts Maritime Academy has been honoring leaders with a renowned career of excellence, innovation and service to the maritime industry with the Emery Rice Medal at their Salute to the Maritime Person of the Year events. This year they will honor Mr. William Gallagher the President of International Registries, Inc. for his distinguished support and expertise…
Int'l Ice Patrol Resumes Operations for 2019 Season
The Coast Guard International Ice Patrol announced it has commenced operations for the 2019 ice season as of Feb. 5, 2019 and will resume production of the North American Ice Service (NAIS) daily iceberg warning products from its operations center in New London, Connecticut.The International Ice Patrol generates the iceberg warnings from February through August, when icebergs pose the greatest threat to transatlantic shipping. The Canadian Ice Service generates the iceberg warning products for the remainder of the year.