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Wednesday, August 23, 2017

File Image: CMA CGM's boxship Ben Franklin (CREDIT: Marad)

CMA CGM to Build World's Largest Boxships at Chinese Yard

French shipping group CMA CGM plans to build nine of the world's largest container ships at two Chinese shipyards, the China Daily newspaper reported on Wednesday. Shanghai Waigaoqiao Shipbuilding Co confirmed that it and its sister yard Hudong-Zhonghua Shipbuilding (Group) Co, had received a letter of intent from CMA CGM for the ships, which would be capable of carrying 22,000 20-foot equivalent unit containers (TEU), the newspaper said. The final order was subject to board approval from both sides, the newspaper said. Both yards are owned by state-run China State Shipbuilding Corporation.

(File photo: Maersk Tankers)

Maersk Tankers Invests in Quantitative Hedge Fund

Maersk Tankers said on Wednesday it has entered into an equity agreement with U.S. hedge fund CargoMetrics, giving it access to analytical models and algorithms to better manage its tanker operations. Maersk Tankers, a unit of shipping group A.P. Moller-Maersk , has invested a "significant" but undisclosed amount in the Boston-based hedge fund, which will give the firm exclusive right to its analytical models, algorithms and capabilities. CargoMetrics links satellite signals, historical shipping data and proprietary analytics for trading purposes in its systematic investment platform.

(File photo: Maersk Line)

Maersk Wants Trade Finance Role

Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry. Moving into traditional bank territory and further down the shipping value chain, Maersk Line, part of A.P. Moller-Maersk, is offering to finance shipments and remove the paper trail from financing deals. Maersk says it has no need to ask for collateral - one of the biggest headaches for banks and customers in trade finance deals - because it is carrying the goods on its vessels.

(File photo: Hyundai Merchant Marine)

Hyundai Merchant Marine, BlackRock in Investment Talks

South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) is in talks with BlackRock Inc about a potential investment but details have yet to be discussed, a HMM spokesman said on Monday. BlackRock is in talks with HMM to invest up to 1 trillion won ($880 million) in the nation's largest shipper, the Korea Economic Daily reported on Monday, citing unidentified investment banking and shipping industry sources. A BlackRock spokeswoman could not be immediately reached for comment. HMM shares were up 1.2 percent in morning trade, compared to a 0.2 percent fall for the wider market.

Nakilat's flagship, the QMax Mozah. Photo:  Qatar Gas Transport Company Ltd. (Nakilat)

Nakilat, Shell Completes First Phase of LNG Carrier Management Transition

Nakilat Shipping Qatar Limited (NSQL) a wholly owned subsidiary of Nakilat and Shell International Trading and Shipping Company Limited (Shell), have completed the first phase of what will be the world’s largest management transition of LNG carriers. The Q-Max LNG carrier Al Mafyar was the 10th vessel to transition from Shell to NSQL management in 10 months, bringing about the successful completion of the first phase. Al Mayfar is wholly-owned by Nakilat and chartered by Qatargas, with a cargo capacity of 266,370 cubic meters.

Domingo. Photo:  Diana Containerships Inc.

CMA CGM Hires Diana Containerships' Domingo

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with CMA CGM, Marseille, for one of its Panamax container vessels, the m/v Domingo. The gross charter rate is US$8,500 per day, minus a 3.5% commission paid to third parties, for a period of minimum 8 months to maximum  11 months. The charter will commence on September 15, 2017. The m/v Domingo is currently chartered to Nile Dutch Africa Line B.V.

Photo:  SITC International Holdings Co., Ltd

SITC Shipowning Orders Four Newbuilds

SITC Shipowning, a wholly-owned subsidiary of SITC International Holdings Co, has exercised the options for the construction of two container vessels, said a company release. SITC Shipowning also entered into the New Shipbuilding Contracts with the Builder for the construction of two additional container vessels. The four vessels to be constructed under the Option Contracts and the New Shipbuilding Contracts are 1,011 TEU class gearless container vessels. The aggregated costs for the construction of the four container vessels under the Options and the New Shipping Contracts is US$68 million.

Photo: Husky Energy Inc.

Husky Energy Pact for Canadian Offshore Project

NC-Lavalin, Dragados Canada and Pennecon announced that their General Partnership (GP) has been awarded a construction contract from Husky Energy as part of the company's West White Rose Project in Newfoundland and Labrador. The GP will build a concrete gravity structure (CGS) for a fixed drilling platform. The CGS, with an overall height of 145m and base diameter of 122m, will require 76,000m3 of concrete in its construction, which will take place in a purpose built dry dock from 2017 to 2021.

G. P. Zafirakis. Photo: Diana Shipping Inc.

Diana Shipping Extends Time Charter with RWE

Diana Shipping has  announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is US$15,000 per day minus a 5% commission paid to third parties, for a period of about 14 months to maximum 17 months. The new charter period will commence on August 14, 2017. The m/v G. P. Zafirakis is currently chartered…

Photo: Fugro

Fugro Bags Surveying Contract

Dutch geo-consultancy  Fugro’s integrated capabilities clinch further work for Sirius at the world’s largest high grade polyhalite deposit. The award of two major new contracts integrating geotechnical and geophysical investigations sees Fugro continue its site characterisation services at Sirius Minerals’ North Yorkshire polyhalite project. A new geotechnical package comprises seven deep boreholes in shaft and tunnel locations at the new UK mine, located 3.5 kilometres south of Whitby in North Yorkshire.

DSV Pins Growth Hope on e-commerce

CEO: freight forwarding industry undergoing transformation; plays down threat from new entrants. Danish freight forwarder DSV will invest more to meet rising demand for services such as e-commerce and address competition from new players including Amazon.com which is seeking a greater role in the logistics supply chain. DSV has specialised in complex transportation logistics for business-to-business customers but now wants to expand its e-commerce services where it sees great potential due to rapid growth in internet sales, CEO Jens Bjorn Andersen said in an interview.

File photo: Hyundai Heavy Industries

Hyundai Heavy Wins $600 Vitol Tanker Contract

The Korean shipbuilder Hyundai Heavy Industries (HHI) won a contract worth up to $600 million from Netherlands-based energy and commodities company Vitol to build as many as eight gas tankers, Reuters reported. HHI will construct two liquefied petroleum gas (LPG) tankers with a capacity of 84,000 cubic meters (3 million cubic feet) each. The ships are expected to be delivered in the first half of 2019. Under the deal, the energy company holds the option to order six more gas carriers.

Photo: ​ d’Amico ​Società di Navigazione SpA

d'Amico Tankers Updates Ship Sales and Purchases

In January 2017, d’Amico Tankers sold MT High Endurance and MT High Endeavour, two 46,992 dwt medium-range product tanker vessels, built in 2004 by STX, South Korea, to Sea World Tankers a client of Sea World Management SAM, for a consideration of US$ 13.5 million each. At the same time, d’Amico Tankers will maintain the commercial employment of the Vessels having also concluded with the Buyer a 4 years’ time-charter agreement at an attractive rate. In May 2017, d’Amico Tankers d.a.c.

Diana Reactivates Idle Containership

Diana Containerships Inc. said plans to reactivate one of its idle Panamax container vessels, the m/v Pamina, a 5,042 TEU container vessel built in 2005. The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Orient Overseas Container Line Ltd., Hong Kong, for the m/v Pamina. The gross charter rate is $9,500 per day, minus a 3.75 percent commission paid to third parties, for a period of minimum seven months to maximum 12 months. The charter will commence on September 13, 2017.

Golden Ocean to Look Towards Time Charters

We are slowly starting to consider chartering opportunities at the rate levels that we see now. Except for four long-term charters, we are more or less spot exposed for next year and we'll slowly start to add some charter cover.

Four Robert Allen/ Rastar 2900 SX terminal tugs from Sanmar will be used in the fleet in the Tanger-Med Port in Morocco, operated by the Danish towage company Svitzer as of 2018. The tugs will each be fitted with two 16V 4000 M73L MTU engines. (Photo: Rolls-Royce)

MTU 4000 Engines to Power Harbor Tugs

Rolls-Royce and Sanmar Shipyards in Turkey have signed a contract for the delivery of eight MTU Series 4000 engines for four new terminal tugs, including an option for a further four engines. The tugs will each be fitted with two 16V 4000 M73L MTU engines, each delivering an output of 2,700 kW (at 1,850 rpm). The MTU brand is part of Rolls-Royce Power Systems. Sanmar and MTU have been working closely together since 2009. Knut Müller, Head of the Marine and Government Business Division at MTU…

(Photo: SUNY Maritime College)

US, Panama Maritime Schools Partner

SUNY Maritime College said it has expanded its global reach by signing a memorandum of agreement with the International Maritime University of Panama, paving the way for further cooperation between the two institutions, including student and faculty exchange programs, collaborative research ventures and cooperative educational programs in a variety of areas including marine transportation and logistics, marine engineering, marine sciences and naval architecture. “Maritime College graduates enter a global industry,” said Dr.

Photo: Port of Dunkerque

Dunkirk, Dunkerque Port Sign LNG Pact

Dunkirk's LNG Terminal and Dunkerque-Port signed an agreement for the development of an liquefied natural gas (LNG) station to supply tank trucks. The use of LNG by shipping has grown significantly in recent months with new projects (orders for ships, LNG supply stations, etc). A month after signing the agreement, Dunkerque LNG and Total Marine Fuels Global Solutions (TMFGS) announced that they would supply LNG to the Honfleur, the first French ferry running on LNG, which will ply between Ouistreham and Portsmouth as of 2019.

(Photo: Grand Bahama Shipyard Limited)

Grand Bahama Shipyard Reports Commercial Success

Caribbean shipyard Grand Bahama Shipyard (GBS) said it has completed work on 30 commercial vessels within first half of 2017, predominantly comprised of companies returning to the yard with repeat business including tankers, bulk carriers, containerships, tugs, dive support vessels and drilling support vessels. In what is considered a volatile market, GBS said 2017 has been a great year for repeat customers, solidifying its position as a supporter of the major U.S. East Coast…

M/V Maia. Photo: Diana Shipping Inc

Diana Shipping's New Time Charter for Maia With Glencore

Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Maia. The gross charter rate is US$10,125 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum fifteen (15) months. The charter is expected to commence immediately. The m/v Maia is currently chartered, as previously announced…

Chabahar Port. Photo: Ports & Maritime Organization Iran

Iran's Chabahar Port Signs Pact with India Ports Global

India Ports Global has signed a contract with Aria Banader of Iran to equip and operate two terminals at Chabahar - Shahid -Beheshti Port in Iran for transportation of goods and other purposes. "As per Article 6 of the contract, effort are to be made to commence commercial operations at Chabahar –Shahid- Beheshti Port in Iran within 18 months from the contract activation date or 4 months from the date on which the Lessor hands over the Terminals and the infrastructure facilities to the Lessee in accordance with the terms of the Contract," said a press release from the government.

Photo: Crowley Logistics

U.S. DoD Awards Crowley $2.3 Billion Transport Deal

Following a series of protests and subsequent legal challenges, the U.S. Transportation Command (TRANSCOM), a command of the U.S. Department of Defense (DOD), this week confirmed a large, multi-year contract award to Crowley Logistics, Inc., to provide transportation and related services supporting DOD activities in the U.S. and Canada. The Department of Defense Freight Transportation Services (DFTS) contract is one of the largest logistics contracts awarded by the U.S. government.

Photo: STX Offshore & Shipbuilding

STX Bags Orders for Six Tankers

South Korea’s STX Offshore & Shipbuilding won contracts to build six tankers from Greece and local shippers, reports Korea JoongAng Daily. STX announced that Greek shipper OceanGold Tankers placed an order for four medium-range tankers of 50,000 DWT capacity. Two were order on an option contract, which gives the buyer a right to pay for the ship at a pre-determined price in case ship prices rise. The deal was worth $140 million in total. According to STX,  the ships will be constructed in its Jinhae shipyard in Changwon, South Gyeongsan, and delivered by the first quarter of 2019.

MOL Tribute (Photo: MOL)

Mega Ship MOL Tribute Under BSM Management

Bernhard Schulte Shipmanagement (BSM) has announced that the 20,146 TEU containership, MOL Tribute, came into full management of the Hong Kong Ship Management Center on July 10, 2017. Built by Samsung Heavy Industries in South Korea, MOL Tribute is 400 meters in length having a deadweight of 196,877 MT, with her sister ship, MOL Tradition, scheduled to enter Hong Kong management at the end of August. Through these milestones, BSM becomes part of a select group of operators that have the expertise to manage some of the world’s largest containerships.

Boskalis Bags Stockholm Norvik Port Contract

Royal Boskalis Westminster N.V. said it has been awarded a contract by Ports of Stockholm to construct the quay wall for the new Stockholm Norvik Port in Sweden. The contract value amounts to approximately €60 million ($69 million). The project will commence in the autumn of 2017 and is expected to complete in the spring of 2020. Stockholm Norvik Port, the new freight port for rolling goods and containers, will be constructed in Norvikudden located 60 km south of Stockholm. The port will have seven berths for container ships and RoRo ferries.

Photo: Diana Containerships Inc

Diana Time Charter with Maersk and CMA CGM

Diana Containerships has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Puelo, for a period of minimum eight months to maximum 18 months. The gross charter rate is US$10,600 per day for the first eight  months of the charter period and US$12,000 per day for the balance period of the time charter, in each case minus a 5.0% commission paid to third parties. The charter is expected to commence on August 2, 2017.

Her Excellency Leoni Cuelenaere, the Dutch Ambassador to Bangladesh (Photo: Damen)

Dredging Seminar Held in Bangladesh

On Tuesday, July 11, Damen hosted a dredging seminar in Dhaka, Bangladesh attended by more than 100 representatives from the Dutch Embassy in Bangladesh, experts from the Bangladesh Government, the Bangladesh Navy, local financing institutions, various customers of Damen and other industry stakeholders. Damen said it has enjoyed great successes all over the world in the sale of its dredging equipment, including Trailing Suction Hopper Dredgers, Cutter Suction Dredgers and renowned DOP pumps.

Image: Golar LNG Limited

Golar LNG Cuts Dubai FSRU Charter

Golar LNG Partners has agreed with the charterer of the Golar Freeze FSRU, Dubai Supply Authority (DUSUP) certain amendments to the existing time charter that was due to end in May 2020. DUSUP have two FSRU's on contract and do not currently have full time use for Golar Freeze and have therefore been working with Golar Partners to find alternative employment. Golar Partners and DUSUP will continue to cooperate with regards to future employment for Golar Freeze but in the meantime have agreed certain amendments to the existing charter.

File photo: Rickmers Maritime

Rickmers to Sell its Last 9 Vessels to Navios

HSH syndicate, comprising HSH Nordbank and DBS Bank, has approved the sale of the remaining nine of 14 vessels of Singapore-based Rickmers Trust Management for some $54 million to Navios Partners Containers and Navios Partners Containers Finance. The total consideration will also include an amount to support settlement of operational cash deficits to closing, said Rickmers Trust Management in an update on the winding up of Rickmers Maritime. The sales of these nine vessels are expected to be completed in parts from July 12, 2017, Rickmers said.

Damen’s local agent, Damien Barrow, Boris Peyterman, Technical Director PAP, George Puchon, CEO PAP and Damen Sales Manager Vincent Maes. (Photo: Damen)

Port Autonome de Papeete Orders Tug for Tahiti

Damen Shipyards said it has won an open tender for the supply of a tug to Port Autonome de Papeete on the Pacific island of Tahiti. Tahiti is part of French Polynesia, an overseas territory of the French Republic. The tug will be Damen’s popular ASD 2810 model, a rugged, versatile vessel capable of delivering 60 tonnes of bollard pull. Pape’ete is the capital of French Polynesia and the economic hub of the archipelago. Port Autonome de Papeete serves a wide range of vessels including local ferries…

File photo: A.P. Moller - Maersk

Maersk: Too Early to Predict Financial Impact of Cyber Attack

Asia CEO said ports have resumed releasing cargo; will discuss settlement, liability issues with customers. Maersk said it was too early to predict the financial impact of last month's global Petya cyber attack that hit the shipping giant's computers and delayed cargoes, but added that normal operations had resumed at its ports. A.P. Moller-Maersk, Danish owner of the world's biggest container shipping line, operates 76 ports via its APM Terminal division and was one of the many firms hit by the ransomware virus along with Russia's Rosneft and advertising agency WPP.

(Photo: SCH)

SCH to Handle Renault Vehicles in Southampton

Roll-on/roll-off cargo handlers Southampton Cargo Handling (SCH) said it has secured the stevedoring contract to handle all Renault vehicles being shipped through the Port of Southampton. The move follows the success of Euro Marine Logistics (EML), a joint venture project between Mitsui OSK Lines and Hoegh Autoliners, in winning the shipping contract for some 60,000 Renault vehicles a year that pass through Southampton. EML is making calls every four days in the port after loading vehicles in France and Spain.

Image: Yangzijiang Shipbuilding

Yangzijiang Bags Newbuild Orders Worth $133 Mln

China’s Yangzijiang Shipbuilding has won six shipbuilding contracts worth a total of $133m during the second quarter of this year, Business Times reported. Three of these orders for 1,800 TEU (twenty-foot equivalent unit) containerships were exercised from options tied to existing shipbuilding orders. Three others for 82,000-deadweight-tonne bulk carriers were new shipbuilding orders. The new ships are scheduled to be delivered in phases between 2018 to 2020. Yangzijiang Shipbuilding…

Photo: Hyundai Shipbuilding Division

Korean Shipyards Look Bullish

South Korea's major shipyards are estimated to have racked up solid profit during the second quarter of the year, aided by the increased delivery of ships, cost-cutting measures and a rise in new orders, Yonhap reported citing industry sources. Another report said that Korean yards have clinched the most new shipbuilding orders in the first half of the year, with their combined tally more than doubling from a year earlier. The trend appears bullish for ship building in the country.

Photo: Mitsui O.S.K. Lines

MOL Bags Yamal LNG Charter Contract for Four Ships

Mitsui O.S.K. Lines (MOL) announced it has signed a long-term charter contract for four liquefied natural gas (LNG) carriers with the tank capacity of 174,000m3, which will be delivered and serve on Yamal LNG project in 2019 and 2020 onward, through a wholly-owned subsidiary of MOL. The four contracted carriers will serve as a transport of LNG transshipped by the project from Europe. MOL did not provide any additional information on the vessels. Yamal LNG is a planned $27 billion LNG plant at Sabetta, north-east of the Yamal Peninsula, Russia.

Photo: d’Amico Group

d’Amico Chooses Sealink Premium Plus VSAT

Italian ship owner and long-term Telemar customer d’Amico Group has selected Marlink’s Sealink Premium Plus VSAT service to enhance connectivity across its fleet of over 50 product tankers and dry cargo vessels. Sealink Premium Plus provides global connectivity for d’Amico’s business and vessel operations, in addition to supporting crew welfare. With Sealink Premium Plus, the d’Amico fleet will receive a guaranteed Committed Information Rate (CIR) and completely unlimited Ku-band VSAT data in parallel to unlimited L-band back-up, for a single, fixed monthly fee.

Grace Barleria (Photo: NYK)

NYK, Kyushu Electric Power Partner on LNG Transport

Japanese firms NYK and Kyushu Electric Power Co. Inc. say they have reached an agreement to partner in various fields, including liquefied natural gas (LNG) transport. According to NYK, the agreement will allow Kyushu Electric Power to use vessels from the shipping company’s fleet for short-term LNG transport, enabling NYK to improve its profitability through efficient vessel allocation and Kyushu Electric Power to improve its flexibility in LNG transport. Shipping company NYK…

Image: Crowley

ExxonMobil Joins with Eagle LNG, Crowley on LNG Marine Fueling

ExxonMobil, Eagle LNG Partners LLC (Eagle LNG Partners) and Crowley have signed an agreement to collaborate on the development of LNG as a marine fuel. The goal is to establish the storage and technical support necessary to provide safe, reliable LNG delivery for vessel operators bunkering in North America. The three companies signed a Memorandum of Understanding (MoU) on June 27, 2017. The parties will initially focus their efforts in Florida before expanding to other North American markets.

Pic: Cosco Shipping Energy Transportation Co Ltd

Cosco Firms Sign Insurance​ Agreement

Cosco Shipping Energy Transportation has entered into insurance services framework agreement with Cosco Shipping Insurance​ pursuant to which the latter will provide vessel-related insurance services to the Group. Cosco Shipping  Insurance is a wholly-owned subsidiary of Cosco Shipping , the Company’s indirect controlling shareholder. Accordingly, Cosco Shipping Insurance is a connected person of the Company, and the Insurance Services Framework Agreement and the transactions thereunder constitute continuing connected transactions of the Company.

Valletta Cruise Port Inks Agreement on Tourism Ethics

Valletta Cruise Port has signed the UNWTO Private Sector Commitment to the Global Code of Ethics for Tourism. This Code is a frame of reference for responsible and sustainable tourism development as endorsed by the United Nations General Assembly in 2001. Together with another five Maltese companies, Valletta Cruise Port was welcomed as signatory to this Code. By adhering to the Code, signatories commit to implementing and promoting its principles in their business strategies and operations. The Code’s 10 principles cover the economic, social, cultural and environmental components of tourism.

Bob MacDonald, CEO of Wood Group’s Specialist Technical Solutions business. Photo: Wood Group

Wood Group Bags Alexandroupolis FEED

Wood Group has secured a new front end engineering design (FEED) contract with Gastrade S.A. for the Alexandroupolis Independent Natural Gas System (INGS) offshore Greece. The project, to develop a floating liquefied natural gas (LNG) receiving, storage and regasification unit (FSRU), will create a new natural gas gateway to the markets of south eastern and central Europe. Wood Group’s subsea team will perform the design and engineering definition of the Alexandroupolis FSRU and its subsystems which will support the final investment decision for the project, planned for late 2017.

Photo: DFDS

Telenor Expands Communication Services for DFDS

Global maritime mobile operator Telenor Maritime said it will expand communications services for longstanding partner DFDS, deploying its connectivity platform with Premium Wi-Fi, Ka VSAT and mobile broadband backhaul for the Northern European shipping company. “We are moving fast forward into the Networked Society, and we are expecting the same experience whether we are at home or at sea when using our mobile devices,” said Frode Støldal, CEO of Telenor Maritime. “Speed and connectivity are crucial for passengers, and even more so in situations where a mobile device is used for business.

GeoSea Bags Offshore Wind Installation Work from EnBW

DEME Group’s offshore marine engineering subsidiary GeoSea said that, following successful completion of the design, it also received the Notice to Proceed for fabrication and offshore installation of 16 wind turbine foundations and 1 Offshore Transformer Module (OTM) for the EnBW Albatros offshore wind farm, for which GeoSea is Siemens’ EPCI partner. This partnership enables Siemens to provide a full-scope project (offshore wind turbines and OTM, incl. foundations) to EnBW. The Albatros offshore wind farm is located in the so-called “exclusive economic zone” of the North Sea…

© Nightman1965 / Adobe Stock

Dry Bulk, Tanker Newbuilds on the Rise -BIMCO

Tanker and dry bulk vessel newbuild contracts have been signed at an increasing pace so far in 2017, with newbuild activity for the first half of 2017 surpassing the same period last year by 20 percent. According to BIMCO, 5.9 million DWT was contracted in May 2017 and 3.1 million DWT so far in June 2017, which brings the total amount of newbuild orders up to 19.6 million DWT for 2017. So far for June 2017, 22 tankers have been contracted amounting to a total of 2.6 million DWT. For the crude oil tanker segment, this has been entirely for suezmax ships with 1.9 million DWT ordered.

LCS Class. Photo: Austal

Austal Wins USD 584.2 million US Navy Contract

Australian shipbuilder Austal has won a  $584.2 million contract to build a 14th Littoral Combat Ship for the US Navy, Reuters reported. The contract includes associated LCS class services and related material and integrated data environment support, as well as options for the construction of additional LCS, class services and post-delivery availability support, the Pentagon said in a statement. Australian Associated Press added quoting Asutal that  the 127-metre LCS28 will be built at its shipyard in Mobile…

Pic: Korea Line Corporation

Korea Line Signs USD 1.15 bln LNG Shipping Deal from KOGAS

Korea Line Corporation (KLC) has secured a KRW 1.27 trillion (USD 1.1 billion) contract to transport liquefied natural gas (LNG) for its compatriot Korea Gas Corporation (KOGAS). Yonhap reported that under the deal with Korea Gas Corp. (KOGAS), Korea Line will transport LNG through May 30, 2037, the company said in a regulatory filing. Other details of the contract were not revealed. In 2013, Korea Line was taken over by SM Group, a midsized shipping group. Korea Line currently operates some 30 vessels…

The shuttle tanker Eagle Barents currently on charter for Statoil from AET. (Photo: Statoil)

Statoil, AET Expand Shuttle Tankers Contract

Statoil ASA and petroleum and chemical tanker owners and operator AET are extending their partnership in the North Sea shuttle tanker sector. Statoil has, awarded a long-term contract to AET, a subsidiary of Malaysian energy shipping group, MISC Berhad, to operate two specialist DP2 offshore loading shuttle tankers (OLSTs) on long-term charter. These new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil. These new vessels are in addition to the two AET DP2 ships currently on charter in the same area for Statoil.

M/V Protefs. Photo: Diana Shipping Inc.

Diana Signs Time Charter with Hudson

Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hudson Shipping Lines Incorporated, for one of its Panamax dry bulk vessels, the m/v Protefs. The gross charter rate is $7,900 per day, minus a 5 percent commission paid to third parties, for a period of minimum 12 months to about 15 months. The charter is expected to commence on June 23, 2017. The Protefs is a 73,630 dwt Panamax dry bulk vessel built in 2004.

Left to right: Ken Kaczmarek, Chairman, Ports of Indiana Commission; Michael Ferguson, President, Metro Ports; Michael Giove, COO, Nautilus International Holding Company; Rich Cooper, CEO, Ports of Indiana; Jody Peacock, Vice President, Ports of Indiana; Ian Hirt, Port Director, Port of Indiana-Burns Harbor (Photo: Ports of Indiana)

Metro Ports to Operate Port of Indiana Bulk Terminal

The Ports of Indiana announced that Metro Ports – the country's oldest stevedoring company – will become the new bulk terminal operator at the Port of Indiana-Burns Harbor. Starting July 1, 2017, Metro Ports will manage the loading and unloading of shipments along the port's East Harbor for port tenants and outside companies shipping bulk cargoes, including products for the steelmaking, agricultural, manufacturing, energy and construction industries. Metro Ports is the brand used to collectively identify stevedoring affiliates of Metropolitan Stevedore Co.

(Photo: Port of Los Angeles)

Port of LA Renews Terminal Lease SSA Pacific

The Port of Los Angeles informs it has approved a five-year lease extension for SSA Pacific, Inc. to continue operating the marine terminal that is the West Coast’s home to imported Chilean fruit. For more than 25 years, Chilean growers have relied on the dedicated terminal to deliver their fresh produce – primarily grapes, stone fruit such as peaches, nectarines and plums, and avocados – to North America’s consumer markets west of the Rockies stretching from Southern California to Vancouver and reaching into West Texas.

Photo: Qatargas Operating Company Limited

Qatargas to Supply LNG to Shell

Qatargas and Shell have signed a memorandum of understanding (MOU) that will lead to the two companies jointly researching liquefied natural gas (LNG) logistics. Through this joint logistics research collaboration, Qatargas and Shell aim to develop new ways to optimize supply chains to deliver to LNG global markets. The research will be conducted at the Qatar Shell Research & Technology Centre at the Qatar Science & Technology Park. The MOU was signed by Faisal Al Suwaidi, Chairman and Chief Executive Officer of Qatargas Operating Company…

Photo: Pacific Radiance Ltd

Pacific Radiance Gets USD 45.3mln in Vessel Deals

Singapore's Offshore support vessel (OSV)-focused Pacific Radiance said that it has won US$45.3 million of new contracts including options, which will add to its operating cash flow. Under these contracts, ten of the Group’s offshore support vessels, including a diving support vessel, are being deployed to support projects in Asia and the Middle East. They are chartered to new and existing clients to provide services which include towing, repair and maintenance, transportation and platform support.

Pic:  Seanergy Maritime Holdings Corp

Seanergy Time Charter Contract for Partnership

Greece-based Seanergy Maritime Holdings announced that it has entered into a time charter contract with a major European utility and energy company for its recently delivered Capesize vessel. The 2012-built M/V Partnership will commence a period employment of about twelve to eighteen months and is expected to generate approximately $8.8 million of gross revenue, assuming the full 18 months employment. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, said: “We are pleased to announce a period employment contract for our most recent Capesize acquisition.

Qatar Petroleum, Shell Sign LNG Bunkering Agreement

Qatar Petroleum and Shell signed a framework agreement to develop global LNG bunkering facilities on Tuesday, Qatar Petroleum said. "We view LNG bunkering as a promising opportunity for LNG to further grow as a clean energy source," Qatar Petroleum CEO Saad Sherida Al-Kaabi was quoted as saying. "LNG demand for bunkering is expected to increase significantly over the coming years and we believe there is real potential for such demand to reach up to 50 million tons per annum by 2030," he said.

Tore Andersen (Photo: Optimarin)

Optimarin, Goltens Ink Spare Parts and Service Deal

Optimarin informs it has signed an agreement with Goltens Green Technologies giving the Norwegian-headquartered ballast water treatment (BWT) specialist a global network of spare parts warehousing and service engineers. The framework agreement, negotiated at this month’s Nor-Shipping, will enable Optimarin to use facilities in Asia, North America and the Middle East to provide its worldwide customer base with local lead times for the commissioning and maintenance of its market proven Optimarin Ballast System (OBS). “We know Goltens very well,” said Optimarin CEO, Tore Andersen.

Bulk carrier anon: File photo

Hunter Maritime Terminates Tender Offer for Bulkers

Marshall Islands based Hunter Maritime Acquisition revealed it has “mutually agreed” with Germany’s Oskar Wehr to terminate the master agreement and the memoranda of agreement (MOA) related to the acquisition of five Capesize dry bulk carriers. The Tender Offer expired on June 9, 2017, and as of that time, certain conditions to the consummation of the Tender Offer and the Acquisition were not satisfied, including the condition that not more than 8,233,100 Class A common shares shall have been validly tendered and not properly withdrawn at the Expiration Date.

Ecoslops, Total Plan Micro-refinery in La Mède

Ecoslops, a company that upgrades ship-generated hydrocarbon residues, or “slops”, into valuable new fuels and light bitumen, said is has signed an agreement with TOTAL Group to set up a maritime transport induced oil residue waste-processing unit at La Mède, near Marseilles in the Bouches-du-Rhône. The agreement comes after the completion of technical and commercial studies, which commenced last year and were announced as a Memorandum of Understanding (MOU) in September 2016.

Design Contract Awarded for SC Container Terminal

AECOM said it has been chosen by the South Carolina Ports Authority (SCPA) to provide detailed design services for the new Hugh K. Leatherman, Sr. Container Terminal at the Port of Charleston. “Extending AECOM’s dedication to delivering a better world and continuing to grow its port presence in the Carolinas, this design work will facilitate development of North America’s newest and most advanced container terminal,” said Tim Keener, executive vice president and general manager of AECOM’s Southeast region.

Pic: Polaris Shipping Co

Polaris Orders 3 Iron Ore Carriers at Hyundai

South Korean shipping firm Polaris Shipping Co has placed an order with Hyundai Heavy Industries (HHI) to build three very large iron ore carriers, Yonhap reported. Polaris said the 325,000-ton iron ore carriers will replace some of its aged ships. The financial details of the shipbuilding contract and delivery schedule for the newbuildings were not disclosed. With the latest order from Polaris HHI's orderbook that was valued at $3.8bn in the first five months of 2017 will enlarge further.

Sideris GS. Photo: Diana Shipping Inc.

Diana Addendum to Time Charter with Rio Tinto

Diana Shipping, through a separate wholly-owned subsidiary, has agreed to extend and increase the time charter rate of the present time charter contract with Singapore-based Rio Tinto Shipping (Asia) for one of its Capesize dry bulk vessels, the m/v Sideris GS. The global shipping company specializing in the ownership of dry bulk vessels added that the contract is for a period of minimum 13 months to maximum 17 months. The new gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on June 20, 2017.

Photo: Port of Antwerp

Antwerp Mulls China Collaboration

Antwerp Port Authority signed a collaboration agreement with the port of Caofeidian in China. The collaboration forms part of the “One Belt One Road” project in which China seeks to connect its main ports and industrial cities more closely with crucial trade centres elsewhere in the world including Europe. The Memorandum of Understanding was signed in the presence of the prime ministers of Belgium and China at a ceremony held in Val Duchesse castle where seven other agreements between the two countries were also concluded at the same time.

© Wojciech Wrzesień / Adobe Stock

Qatari Export Costs to Rise as Port Ban Disrupts Trading

Region's largest bunkering hub shuns Qatari vessels; affected shippers may face delays, higher costs. The costs of Qatari energy and commodity exports are likely to rise as the United Arab Emirates' ban on Qatari vessels cuts the ships off from the region's main refuelling port, forcing ships to sail further for fuel or pay higher prices. Saudi Arabia and the UAE, along with Egypt, Yemen and Bahrain, on Monday cut diplomatic ties with Qatar amid accusations the country supported terrorists.

Photo: RINA

RINA Consulting to Advise on New Kuwaiti Ports

RINA Consulting, a consulting engineering arm of the RINA Group, has won a consultancy contract to determine the general strategy for the development of three existing and one new port in Kuwait. The contract, valued at €1,450,000, ($1,631,000)  was placed by the Kuwaiti Port Authority this week and will be completed by end 2018. The plan will be an important element in the Kuwaiti governments overall development strategy and plan for the country’s future. RINA Consulting is already…

Mike Deeks (CSC, Managing Director Forgacs Marine and Defence), Mark Lamarre (CEO ASC Shipbuilding), Roland Briene (Area Director Asia Pacific, Damen Shipyards Group). Photo by Damen Shipyards Group

Damen Consolidates Australian Partnership

Damen Shipyards Group recently visited Adelaide to further consolidate their partnership with ASC Shipbuilding and Forgacs Marine and Defence (Forgacs) (ASC Forgacs Shipbuilding) to build twelve Offshore Patrol Vessels (OPV) for the Australian Navy and to explore domestic and export opportunities for both the commercial and naval markets. Roland Briene, Damen’s Area Director Asia Pacific, also highlighted two important milestones for Damen in Australia: the 5th anniversary of Damen’s Australian company…

Photo: Hapag-Lloyd

Hapag-Lloyd Expects Post-Merger Job Cuts

German shipping company Hapag-Lloyd confirmed on Wednesday that it is looking to cut up to 12 percent of its almost 11,000 land-based workforce after completing its merger with Arab peer UASC last week. A spokesman at Hapag-Lloyd's Hamburg headquarters said the job cuts would be made over the next 18 months to two years, confirming a report in Abu Dhabi-based The National newspaper and hints to this effect earlier this year. The company did not say where jobs would be cut. Some 2,100 sea-based jobs would not be affected because vessels would continue to travel, the spokesman said.

MSC Inks 35-year Deal to Run Ivory Coast Terminal

Mediterranean Shipping Company (MSC) has signed a 35-year concession agreement with Ivory Coast's second port of San Pedro to operate its container terminal as part of a deal to upgrade the facility, the Swiss shipping company said on Tuesday. Ivory Coast is the world's leading producer of cocoa, and over half of its total output is exported via the port of San Pedro, which is located near the main western growing regions. The country's main port is Abidjan, which is one of the region's busiest.

Photo: Maritime CleanTech

Fjellstrand's Rolls Out Environmental Ferry

Norwegian ship yard Fjellstrand AS has signed a contract with Norwegian ferry operator Fjord1 for the building of a new ZeroCatTM 120 car ferry. Fjellstrand was also responsible for building the car ferry MF Ampere which wrote history in 2015 as the world’s first full electrical ferry. The yard had a central position in the introduction of new battery technology in the ferry market. The new ferry is a further development of the MF Ampere and will be equipped for higher speed and longer range.

VARD 8 10 for Aker BioMarine - Artist impression. Photo: VARD

Vard Confirms Fishing Vessel Contract for Aker BioMarine

Vard Holdings Limited (VARD), one of the major global designers and shipbuilders of specialized vessels, is pleased to announce that the contract for the design and construction of one krill fishing vessel for Aker BioMarine in Norway has been confirmed. The contract had been announced on 14 February 2017, with effectiveness of the contract still subject to certain conditions, including customary financing conditions. All conditions have now been fulfilled and the contract has become effective.

Photo: International Container Terminal Services

ICTSI Terminates Nigeria Port Project

International Container Terminal Services (ICTSI) subsidiary Lekki International Container Terminal Services LFTZ Enterprise (LICTSE) has given up on its Nigerian port project due to delays in its execution, reports Nikkei. LICTSE and Lekki Port LFTZ Enterprise (LPLE) have mutually agreed to terminate their sub-concession agreement dated Aug. 10, 2012. "The parties arrived at this decision following delays in the execution of the Lekki Port Project," ICTSI told the Philippine Stock Exchange.

Photo: Sungdong Shipbuilding

Sungdong Wins Tanker Order

South Korea's Sungdong Shipbuilding  won an order for seven mid-sized tankers, including two as an option, from a Greek shipowner, reported Korea Economic Daily. It has been more than one year that the Korean mid-sized shipyard to receive a newbuilding contract. Sungdong Shipbuilding signed a deal with Greece’s Kyklades Maritime to build five 115,000-ton tankers in firm order and two more in option. The per-ship newbuilding price is estimated at US$44 million. The report said…

Photo: OSC

OSC Launches VLCC Chartering Business

Oman Shipping Company (OSC) has officially set up a new commercial chartering desk offering its Very Large Crude Carrier (VLCCs) to major traders and charterers covering VLCC routes worldwide. OSC, one of the biggest ship owners in the MENA region, has a diversified and young fleet of 50 vessels. OSC owns 16 VLCCs within the fleet out of which OSC is now commercially managing 15 VLCCs through its subsidiary Oman Charter Company (OCC). The move follows an announcement in December 2016 which saw OSC withdrawing 15 VLCCs from the VL8 pool based in Singapore.

Pic: Kalmar

Kalmar Delivers RTGs to Evergreen

Kalmar, part of Cargotec, has successfully delivered five rubber-tyred gantry (RTG) cranes to Evergreen International Storage & Transport Corporation in Taiwan. The cranes will be used in Taoyuan Inland Container Terminal and Hsichih Inland Container Terminal. Evergreen International Storage & Transport Corporation offers inland container terminal services to customers all over Taiwan, including lifting operations and control of inbound and outbound containers; container repairing and cleaning service; and warehousing in the distribution center.

Photo: Cosco Shipyard

COSCO Singapore Wins FSRU Deal

Cosco (Qidong) Shipyard Co, a subsidiary of Cosco Corp's 51 per cent subsidiary Cosco Shipyard Group Co, has entered into an agreement with a European buyer for the construction of the floating storage regasification unit (FSRU) module. Cosco Corp did not identify the European buyer. COSCO Qidong and the European buyer have agreed to keep the contract prices confidential. Delivery of the module is scheduled for the first quarter of 2018. A press statement from the company said that brring any unforeseen circumstances…

Photo: Diana Shipping Inc

Diana Shipping Adds m/v Astarte

Diana Shipping, a company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Astarte (formerly “Seatrust”). Astarte  is a 2013 built Kamsarmax dry bulk vessel of 81,513 dwt that the Company entered into an agreement to purchase in April 2017. Including the newly delivered m/v Astarte, Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 4 Post-Panamax, 5 Kamsarmax and 23 Panamax).

Pic: Idwal Marine Services Limited

Idwal Marine Secures Ten Year Contract for Flag Services

Idwal Marine announced the signing of a new contract after tender process with the Isle of Man Ship Registry, for the provision of maritime support services, which has been inked for a 10 year term. The Ship registry has developed a new General Inspection regime which is being carried out by the Ship Registry’s own team of surveyors and is supported globally by Idwal Marine in locations such as China, Singapore, Philippines, Brazil, Germany, UK, France, Spain and the USA by the Idwal Marine surveyor network.

Photo courtesy of KotugSmit / Andrew Sassoli-Walker / Dietmar Hasenpusch

KotugSmit, MOL Team up for Smart Operations

Mitsui O.S.K. Lines, Ltd. (container, tanker, dry-bulk and car carrier divisions) and KOTUG SMIT TOWAGE (KotugSmit) signed long term towage agreements, effective early 2017. The two have agreed upon a long term towage contract for the ports of Rotterdam, Antwerp, Ghent, Terneuzen, Flushing, Bremerhaven, Hamburg, London and Southampton. With this strategic partnership, both organizations aim to boost operational performances by benefiting from smart collaboration and sharing operational knowledge and valuable information.

Photo: Diana Shipping

Diana Adds Post-Panamax Bulker, Bags Contracts

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Phaidra (formerly “Soya May”), a 2013 built Post-Panamax dry bulk vessel of 87,146 dwt that the Company entered into an agreement to purchase in April 2017. The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore for one of its Capesize dry bulk vessels, the m/v Semirio.

Photo: Samsung Heavy Industries

New Ship Building Orders for Korean Yards

South Korean shipyards emerged on top for new orders in April, Business Korea reported quoting industry data. The global total amount of new shipbuilding orders reached 750,000 CGT last month and 340,000 CGT and 260,000 CGT went to South Korean and Chinese shipbuilders, respectively. Japanese shipyard orders came to nil. In terms of numbers, Korean shipyards clinched new orders to build 12 ships. South Korea took the largest portion of very large crude oil carrier (VLCC) orders placed in quantity early last month, said the report.

Photo: Elbit Systems Ltd

Elbit Bags Order to Supply Equipment to Brazil Marine Corps

Elbit Systems announced that it won a $40 million contract from the Brazilian Marines to supply advanced systems for computerization, electronic warfare, radio, and communications. The contract will be performed over a two-year period. The contract calls for the supply of cutting-edge technologies and operational capabilities, including a variety of Battle Management Systems (BMS) applications, C4I systems for artillery, latest generation of Soldier C4I suit as well as advanced EW capabilities.

The Map Ta Phut Tank Terminal Company (MTT) signed an official preparedness framework agreement with Ardent. Ffrom left: Polshom Chan-urai, Managing Director from MTT; Bas Michiels, Ardent’s Asia Commercial Director; and Oliver Timofei, Ardent’s Director of Emergency Management. (Photo: Ardent)

Thailand’s MTT Arranges Emergency Response Framework

The Map Ta Phut Tank Terminal Company (MTT) has signed an official preparedness framework agreement with Ardent. The deal is the first of its kind in Thailand and is specifically structured to mitigate risk by pre-staging response elements and training Thai-based terminal operators to work with emergency management elements. MTT is a commercial port and storage terminal dedicated for liquid and gaseous petrochemical products. MTT terminal, comprising of four marine jetties and 33 storage tanks, is able to support more than 20 varieties of petrochemical products.

File Image (CREDIT: AdobeStock / (c) Adita Petria Warman)

Strike to Disrupt Operations at Jakarta's Main Port

A union workers' strike next week is expected to disrupt shipping operations at Jakarta's main port, which handles the bulk of international shipments for Southeast Asia's biggest economy, a labour union official said. Around 2,000 union members are expected to go on strike from May 15-20 at the Tanjung Priok port to protest against an affiliate of Hutchinson Ports, which the union says is bad for the country and for workers' rights. "We are going all out in (next week's) strike…

Photo: Akzo Nobel N.V.

Akzo Nobel Rejects Third PPG Takeover Bid

Marine coating major AkzoNobel announced it has declined a third unsolicited, non-binding and conditional proposal submitted by PPG Industries on April 24, 2017, for all outstanding ordinary shares in the capital of AkzoNobel. A statement from AkzoNobel said that it has concluded its own strategy, presented on April 19, 2017, offers a superior route to growth and long-term value creation and is in the best interests of shareholders and all other stakeholders. This decision follows considerable in-depth analysis of PPG’s proposal by the Supervisory Board and Management Board of AkzoNobel…

Bahri and HHI signed an MoU at Bahri headquarters in Riyadh to strengthen existing relationship and spur Big Data innovation. Photo: Bahri

Bahri, Hyundai Heavy Pact for Big Data Initiatives

The National Shipping Company of Saudi Arabia (Bahri)  has signed a Memorandum of Understanding (MoU) with Hyundai Heavy Industries (HHI) Group to harness Big Data and technological innovation in the maritime industry. HHI Group is the world’s largest shipbuilding group with extensive experience in ship construction and shipyard management. The two parties signed a Memorandum of Understanding (MoU) that lays out a comprehensive business cooperation framework to jointly evaluate the feasibility of launching new long-term projects…

Photo: Damen

Saqr Port Orders Damen ASD Tug

Saqr Port, part of Rash Al Khaimah (RAK) Ports, has signed a contract with the Damen Shipyards Group for the delivery of an ASD 2913 tug. The vessel will be built a short distance away at Albwardy Damen in Sharjah and will be delivered in time for the opening of the new bulk terminal at Saqr Port in mid-2018. Saqr Port is a major bulk-handing port in the Middle East and a vital part of the regional economy. Located at the foot of the Hajar Mountains, it serves the fast-growing quarry industry in the emirate of Ras Al Khaimah.

© Cifotart / Adobe Stock

Brazil Mulls Longer, Flexible Port Licenses to Draw Investment

Brazil may revise public port regulations to lengthen operators' contracts and encourage improvements, officials told Reuters, in an effort to attract more private investment in infrastructure that is crucial to the country's powerhouse farm sector. Building on the success of recent airport and power line auctions , President Michel Temer's government is hoping to add capacity at ports exporting commodities from sugar and coffee to soy at some of the world's lowest prices. Samuel Cavalcanti…

General Dynamics Wins DLA Enterprise IT Contract

Company will deliver IT support services to the military, civilian agencies and foreign countries. General Dynamics Information Technology, a business unit of General Dynamics, was awarded a contract to support the Defense Logistics Agency’s J6 Enterprise Technology Services program. The multiple award, indefinite delivery, indefinite quantity contract has a ceiling value of approximately $6 billion for a five-year base period with three option years. General Dynamics will provide network and telecommunications…

Tom Allegretti (Photo: AWO)

AWO Testifies on Carrier Alliance, Tug Negotiations

AWO testifies before Congress on dangers of foreign carrier alliances negotiating collectively with U.S. Tom Allegretti, President & CEO of The American Waterways Operators, testified before the House Transportation & Infrastructure Committee's Subcommittee on Coast Guard and Maritime Transportation on the dangers posed by the Federal Maritime Commission's (FMC) decision to allow foreign carrier alliances to collectively negotiate with U.S. tugboat operators. Allegretti also emphasized AWO's view that such agreements violate both the letter and congressional intent of the Shipping Act…

© Mikhail R. Vorobiev / Adobe Stock

Egypt to Import Indian Rice

Egypt, traditionally a rice exporter, has contracted to purchase 20,000 tonnes of Indian rice, a cabinet statement said on Wednesday. The government statement did not explain why it had contracted to buy the rice. But in December, the government had said it would import rice after cancelling a tender to buy locally produced rice when the bidding companies all offered higher prices than the government had asked for. Egypt's 2016 rice paddy production is estimated at 5.1 million metric tonnes versus annual consumption of about 3.95 million tonnes…

U.S. Federal Maritime Commissioner William P. Doyle

U.S. FMC Unanimously Rejects Proposed Tripartite Pact

U.S. Federal Maritime Commissioner William P. Yesterday, I voted to reject the Tripartite Agreement proposed by Kawasaki Kisen Kaisha, Ltd. (K Line); Mitsui O.S.K. Lines Ltd. (MOL); and Nippon Yusen Kaisha (NYK). This agreement was unanimously rejected by the Commissioners on the Federal Maritime Commission (FMC). This decision by the FMC in no way precludes the Japanese carriers from merging their container trade business units into a single stand-alone company. Rather, the vote…

Photo: African Marine Solutions Group (AMSOL)

AMSOL Bags New Contracts

AMSOL has been awarded a five-year contract by the South African Department of Transport to operate the standby tug utilized as part of state driven proactive marine pollution prevention measures. And in another development, AMSOL has been appointed by the Sunrise Energy Liquefied Petroleum Gas (LPG) Import Terminal as the preferred marine contractor to fulfill marine operations and multi buoy mooring surface and subsea maintenance requirements in Saldanha Bay, South Africa. AMSOL’s…

Image: Global Ship Lease

Global Ship Lease Report Q1 Financials

The containership charter owner Global Ship Lease (GSL) has reported first-quarter net income of $6.8 million. Its revenue stood at $39.6 mln for the Quarter. Ian Webber, Chief Executive Officer of Global Ship Lease, stated, "During the first quarter of 2017, we continued to execute our core strategy, maximizing the value of our long-term time charters with high-quality counterparties, maintaining high levels of vessel utilization and closely controlling costs. The fleet generated operating revenues from fixed-rate time charters of $39.6 million in the three months ended March 31…

Photo: PAO Sovcomflot

Sovcomflot Launches LNG-Powered Ships

Russia’s biggest tanker operator will launch four new vessels in 2018 that will run on liquefied natural gas (LNG), Bloomberg reported. Sovcomflot’s Aframax ships, capable of carrying 600,000 barrels of oil through the Baltic Sea to the port of Rotterdam, will be the first tankers run on LNG. Royal Dutch Shell Plc and other energy companies that have invested more than $700 billion in LNG projects over the past decade are going to be benefitted by this project. While ships won’t transform the market,  Energy Aspects Ltd.

Photo: Diana Shipping Inc

Diana Shipping Gets Time Charter Contracts for Three Vessels

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$14,450 per day, minus a 5% commission paid to third parties, for a period of about six (6) months up to December 29, 2017. The charter commenced on April 23, 2017. The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.

Sagitta (Photo: Diana Containerships)

Diana Charters out Sagitta to Hapag-Lloyd

Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hapag-Lloyd AG, Hamburg, for one of its Panamax container vessels, the MV Sagitta. The gross charter rate is $9,500 per day, minus a 1.25 percent commission paid to third parties, for a period of up to minimum July 7, 2017 to maximum August 15, 2017. The charter is expected to commence on May 12, 2017. Sagitta is a 3,426 TEU container vessel built in 2010.

File photo: Hamburg Sud

Maersk to Pay $4 Bln for Hamburg Sud

The world's biggest container shipping company Maersk Line will pay 3.7 billion euros ($4.02 billion) for its acquisition of smaller German rival Hamburg Sud, it said on Friday. Combined, the two companies will be able to realise annual operational savings of about $350 million to $400 million, Maersk Line said in a statement fleshing out detail on the deal announced in December. "By keeping Hamburg Sud as a separate and well-run company, we will limit the transaction and integration risks and costs while still extracting the operational synergies…

BW Offshore to get FPSO from Keppe

Keppel Shipyard Ltd (Keppel Shipyard), is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to BW Catcher Limited, a wholly-owned subsidiary of BW Offshore. When completed BW Catcher will be on a 7-year fixed term and 18 years of options contract with Premier Oil and will be deployed to the Catcher Field located in Central North Sea, UK. Keppel Shipyard's work scope on the FPSO include the installation and integration of topside modules. BW Catcher is scheduled for sailaway from the shipyard in the next few months and is on track to achieve its first oil in 2017.

Photo: CMA CGM

CMA CGM, Adani Ports Sign Pact to Operate Mundra Port

French shipping group  CMA CGM and Adani Ports and Special Economic Zone (APSEZ), India’s leading port infrastructure developer and part of the Adani Group, today signed a joint venture agreement, to operate a new container terminal (CT4) at Mundra Port, for next 15 years with an option to extend it twice for 10 more years. Rodolphe Saadé, CMA CGM’s Chief Executive Officer said: We have been present in India for over three decades now and employ 4,000 people. Speaking on this momentous occasion…

Graph: Drewry Shipping Consultants Limited

Drewry Trims Long-Term Freight Rate Outlook for LNG shipping

Given the mounting pressure on freight rates and continuing fleet growth over the next two years, Drewry believes that excess vessel supply will reduce only gradually with the recovery in rates pushed back to the latter part of next year, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. Drewry maintains a bearish stance on the LNG shipping freight rate outlook for 2017 on account of strong fleet growth which is expected to be around 13%.

President /CEO Ventis, Jose Ramon R. Garcia (left), with Managing Director OSM Crew Management Ltd., Tommy Olofsen (right). (Photo: OSM)

‘K’ Line Partners with OSM for LNG Crewing

In a meeting in Manila on April 18, OSM signed a joint venture agreement with “K” Line’s crewing agency Ventis to provide Filipino crew to “K” Line’s entire fleet of liquefied natural gas (LNG) carriers. “Today marks a significant milestone in the relationship between ‘K’ Line group and OSM, in that we have signed an MOU for establishing a JV for ‘K’ Line’s LNG Filipino manning,” said Tommy Olofsen, Managing Director for OSM Crew Management. When the two companies signed the strategic manning partnership agreement…