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Sunday, December 17, 2017

Pictured at MAN Diesel & Turbo's Headquarter in Augsburg (from left): Stefan Eefting - Senior Vice President and Head of MAN PrimeServ Augsburg; Peter Keller - Executive Vice President of TOTE; Per Rud - Senior Vice President and Head of After Sales - Marine & Power Plants.

TOTE Invests (again) in LNG Conversions

TOTE Inc., courtesy of being the first in the world to order containerships powered by LNG, have been leaders in the push to design and build tonnage ahead of the emissions regulation curve. The company again makes headline with the announcement that TOTE Maritime Alaska has contracted MAN PrimeServ – MAN Diesel & Turbo’s after-sales division – to convert a pair of RoRo ships, North Star and Midnight Sun to dual-fuel operation on liquefied natural gas (LNG). Today the vessels are powered by four × MAN 58/64 engines and will be retrofitted to MAN 58/64 retrofit units.

Photo: Damen Shipyards Group

Iran Shipbuilder Signs MoU With Netherlands’ Damen

Iran’s Arvandan Shipbuilding Company and Netherlands’ Damen Shipyards signed a memorandum of understanding (MoU) for cooperation in shipbuilding industry, reports Trend News Agency. The deal envisages cooperation in manufacturing advanced offshore vessels in Iran, the Iranian company announced in a statement. The cooperation will include technology and the transfer of know-how to Iran while employing domestic capacities in shipbuilding. Managed by Iran’s Social Security Investment Company (Shasta)…

Photo: DNV GL

DNV GL, Chrysaor Pact for North Sea Operations

DNV GL has secured a combined engineering services agreement with Chrysaor Holdings Ltd. to deliver a unique range of services to the company in support of its North Sea Operations. Chrysaor recently completed the acquisition of a package of assets in the UK North Sea from Shell for a price of $3.0 billion. The transaction sees Chrysaor become the leading independent E&P company in the UK. It currently has more than 400 staff working in the UKCS. Hari Vamadevan, Regional Manager UK & West Africa…

Photo: Dania Ship Management A/S

Clipper Fleet, Dania Ship Announce Partnership

Dania Ship Management has announced plans to extend ship management capabilities to include dry cargo in a partnership agreement with Clipper Fleet Management, part of the Clipper Group. The partnership, which strengthens the commitment by V.Group, Nordic Tankers and Clipper Group to create a compelling platform for Copenhagen based ship management solutions, will see the transfer of 28 shore-based employees and around 1,000 seafarers to Dania Ship Management. With access to V.Group’s global marine services offering and Dania’s ship management platform…

Photo: ABS

ABS Partnership Enhances Safety in Ghana’s Offshore Industry

ABS, a leading provider of classification and technical services to the marine and offshore industries, formed a joint venture with Notabene Classification Limited to offer regulatory and technical support services, including key classification services to the upstream oil and gas market in Ghana. “This joint venture is an important milestone and demonstrates our strong commitment to advancing safety in all parts of the globe,” said ABS Executive Vice President, Global Offshore, Kenneth Richardson.

Photo: Emirates Global Aluminium PJSC

Khalifa Port to Handle World's Largest Ships

Emirates Global Aluminium, the largest industrial company outside oil and gas, has signed a long-term port facility agreement with Abu Dhabi Ports to use some of the world’s largest bulk cargo vessels to import raw materials through Khalifa Port. With this agreement, Abu Dhabi Ports will be able to develop the port to become the first in the Gulf capable of directly handling these massive ships. Abu Dhabi Ports will fund and complete dredging and widening works to the Khalifa Port approach channel and basin including EGA’s berth.

Photo credit: MSC Mediterranean Shipping Company

MSC Hires MacGregor to Upgrade 31 Vessels

MacGregor, part of Cargotec, has received orders to optimise the container carrying capabilities of 31 Mediterranean Shipping Company (MSC) vessels from six different ship series. The work is designed to optimise ships' cargo system productivity and earning potential. The orders were booked into Cargotec's third and fourth quarter 2017 order intakes and deliveries are planned for completion towards the end of 2018. "Container vessels are an integral part of the whole transportation value chain…

Photo: SolstadFarstad

SolstadFarstad Wins New Contracts in Australia

SolstadFarstad ASA (SOFF) has been awarded several new contracts for the provision of vessels within Australia. McDermott International Inc. affiliated company, MAPL have awarded the provision of a General Purpose Support Vessel, Far Stream, and pipe-haul PSV’s performing services for work Offshore Western Australia. The contract is due to commence during Q1/Q2 2018 and the combined vessels utilization is approx. 200 days. Cooper Energy has supplemented their earlier award of Far Saracen and Far Senator for their upcoming Bass Strait drilling campaign…

M/V Hamburg. Photo: Diana Containerships Inc.

Diana Containerships TC with Wan Hai Lines

Diana Containerships announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Wan Hai Lines (Singapore) for one of its Post-Panamax container vessels, the m/v Hamburg. The global shipping company specializing in the ownership of containerships said in a press release that the gross charter rate is US$11,000 per day, minus a 3.75% commission paid to third parties, for a period of minimum 120 days to maximum 220 days. The charter commenced on December 01, 2017.

Photo: Pan Ocean

PanOcean Signs USD 1.8bln Deal with Brazil's Vale, Orders Six VLOCs

South Korean shipper Pan Ocean has won a 1.98 trillion won ($1.82 billion) contract to transport iron ore over a period of 27 years for Brazilian mining giant Vale, Reuters reported. The South Korea company said in a regulatory filing that it is set to carry iron ore from Brazil to China from January 2020 to August 2047. According to Straits TImes, the contract commences from the first quarter of 2020. "The main objective of the company for entering into this COA is to secure a stabilised source of revenue and profit," said Pan Ocean.

Novatek, Marubeni, Mitsui agree on LNG hub in Kamchatka

Russia's Novatek said on Tuesday it had signed a memorandum of understanding with Japan's Marubeni and Mitsui O.S.K. Lines to explore options for a liquefied natural gas complex in Russia's Kamchatka region.   Novatek added that the action plan was to explore opportunities to establish an LNG transshipment and marketing complex at Kamchatka in Russia's far east.   Novatek plans to launch its first LNG plant on Russia's Yamal peninsula next month, to export supercooled gas both to Europe and Asia. (Reporting by Katya Golubkova; Editing by Dmitry Solovyov)

Photos: Dromon Bureau of Shipping (DBS).

Panama Maritime Authority Authorizes Dromon Bureau of Shipping

Panama Maritime Authority has authorized Dromon Bureau of Shipping (DBS) as a Classification Society, Recognized Organization (RO) and Recognized Security Organization (RSO) to perform class and statutory certification services on behalf of the Flag Administration. The agreement was signed by Fernando Solorzano, General Director of Merchant Marine of the Republic of Panama and Andreas Nicolaou, Managing Director of DBS. The signing ceremony took place on 24th of November 2017 at the presence of Honourable Jorge Barakat Pitty…

Norfolk. Photo: Diana Shipping Inc.

Diana Shipping New TC Contract with SwissMarine

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Norfolk. The gross charter rate is US$13,250 per day, minus a 5% commission paid to third parties, for a period of minimum 21 months to maximum 24 months. The charter is expected to commence on December 1, 2017.

(Photo: Nisomar)

Nisomar Awarded First Launch Services Contract

The new data-driven maritime services company Nisomar confirmed a launch services partnership agreement with Norwegian Cruise Line Holdings for the 2017/18 cruise season in Chile. The agreement will see Nisomar South America provide launch services to the company’s Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises brands across 10 Chilean ports including pilot embarkation/disembarkation, berthing assistance, liaison with local port authorities and service launches for each visit.

M/V Boston. Photo: Diana Shipping Inc.

Diana Shipping Time Charters Capesize Bulker

Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with EGPN Bulk Carrier, Hong Kong, for one of its Capesize dry bulk vessels, M/V Boston. The gross charter rate is $17,000 per day, minus a 5 percent commission paid to third parties, for a period of minimum 16 months to maximum 19 months. The charter commenced yesterday. The m/v Boston was chartered, as previously announced, to Clearlake Shipping Pte. Ltd., Singapore, at a gross charter rate of $13…

Floaters. Photo: Sembcorp Marine Ltd.

Sembmarine Inks LoI with Shell for FPU

Sembcorp Marine announced that its wholly-owned subsidiary Sembcorp Marine Rigs & Floaters has signed a Letter of Intent (LOI) with Shell Offshore for the construction of the hull and topside as well as the integration of the Vito floating production unit (FPU). If the project moves forward, the Vito FPU will be a new facility located in the Mississippi Canyon, approximately 150 miles south of New Orleans, Louisiana, USA, in water depth of 4,050 ft. Comprising a single topside module supported by a 4-column semisubmersible floating hull…

Left: Alufer CEO Bernard Pryor Right: MOL Managing Executive Officer and Director General of Dry Bulk Business Unit Toshiaki Tanaka. Photo: MOL

MOL Signs Bauxite Transport Deal with Alufer Mining

Mitsui O.S.K .Lines (MOL) announced that it held a signing ceremony for a five year bauxite transport contract with Alufer Mining .The contract was signed by Toshiaki Tanaka, MOL's Head of Dry Cargo, and Bernard Pryor at MOL's offices in Tokyo. Republic of Guinea based independent mineral exploration and development company Alufer has received all required permissions from the government with regard to building the Bel Air bauxite mine and construction commenced in January 2017.

Photo: BIMCO

BIMCO, FONASBA Launch General Agency Agreement

BIMCO and FONASBA have once again joined forces to create and launch a new general agency agreement for port agents, shipowners and ship operators contracting port agency services. The new standard contract, which can be downloaded from the FONASBA website and BIMCO’s IDEA, formalizes and sets out clear terms for any agreements made, for the benefit of both sides. Drawn up by the group responsible for drafting the Agency Appointment Agreement which was released earlier this year, the new contract is easy to use and can readily be adapted for single use or a long-term contract.

Photo: Wärtsilä

Wärtsilä to Equip US LNG Fueling Barge

Wärtsilä said it will provide a broad scope of products and solutions for a new articulated tug barge (ATB) that will be used to supply liquefied natural gas (LNG) fuel to cruise ships along the east coast of Florida, U.S. The 4,000 m3 capacity ATB is being built at the VT Halter Marine (VTHM) shipyard in Pascagoula, Miss. on behalf of Quality Liquefied Natural Gas Transport LLC (Q-LNG). When delivered, the vessel will be on a long-term charter with Shell Oil Co. The barge will be fitted with a Wärtsilä LNG cargo storage, handling and control system.

Left: Two 117m high-speed vehicle passenger ferries to be built by Austal for Fred Olsen SA of Spain (Image: Austal). Right: The 127m Benchijigua Express was the world’s first and largest trimaran hull vehicle passenger ferry, designed and built by Austal for Fred Olsen SA in 2005. (Image: Austal)

Austal Opens Up Trimaran Deal with Fred Olsen

Austal’s latest contract announcement for two 117 metre high speed vehicle passenger ferries, for Fred Olsen SA, not only sends a strong signal to the international market that ‘fast ferries are back’, but confirms Austal’s proven trimaran hull design as the most cost effective and highly capable vessel platform to deliver superior seakeeping and schedule performance. The €126million Euro (A$190million) contract, announced at Interferry 2017 in Split Croatia represents Fred Olsen SA’s largest ever ferry order.

Photo: Gazprom

Gazprom, Shell Discuss LNG Projects

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in St. Petersburg. The meeting addressed relevant aspects of strategic cooperation. Particular attention was paid to joint efforts in the liquefied natural gas (LNG) sector. The parties discussed the construction project for the third train of the LNG plant on Sakhalin Island and the progress of the Joint Study Framework Agreement for the Baltic LNG project. The meeting also focused on the Nord Stream 2 project.

Photo: Boston Carriers Inc

Boston Carriers Completes Contract of MV Nikiforos

Boston Carriers announces that on October 2017, Nikiforos completed a spot voyage contract to transport approximately 33,000 tons of dry bulk cargo from South America to the Middle East. The contract contributed approximately 1,283,000 USD in the revenues of the Company. Nikiforos has transported approximately 183,000 tons of dry bulk cargo from the beginning of the year and until the date of completion of this voyage and has produced operating revenues of approximately 3,2 million usd compared to approximately 2,1 million usd for the year ended in December 31 2016. Boston Carriers Inc.

Photo: TNPA

Ports of Durban and Cape Town Up Next for New Transnet Tugs

Transnet National Ports Authority (TNPA) launched its penultimate tug as part of its R1.4 billion, nine-tug construction contract, at Southern African Shipyards. UMKHOMAZI, meaning “place of cow whales” in isiZulu, will serve at the Port of Durban. All nine tugs are being built by Southern African Shipyards in Durban. Friday’s event also saw the handover to TNPA of the seventh tug, USIBA, which was named and launched in August. TNPA GM: Commercial & Marketing and Lady Sponsor of UMKHOMAZI, Lauriette Sesoko, revealed that USIBA would now be delivered to the Port of Cape Town.

Photo: "K" Line

“K” Line Introduces Auto Logistics in Chile

KAR Logistics S.A. (hereinafter shown as KAR*), Joint Venture Company between “K” Line and Agencias Universales S.A.(AGUNSA), which handles Total Logistics Services in Chile and other South and Latin American, has started Auto-Logistics service in Santiago, Chile from Aug, 2017. Customer requirements for services related to automobiles in Chile and other South and Latin American that are showing continuous growth of vehicle sales and imports have been on the increase. With the combined know-how of the two joint venture companies…

m/v Naias. Photo: Diana Shipping Inc.

Diana Shipping Time Charter for Naias With Phaethon

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Naias. The gross charter rate is US$10,000 per day, minus a 5% commission paid to third parties, for a period of about 15 months to maximum 18 months. The charter is expected to commence on November 24, 2017.

Tommy Olofsen Managing Director OSM Crew Management (Photo: OSM)

OSM Crew Management for Lauritzen Kosan Fleet

Global ship management company OSM Maritime Group said it has been awarded full crew management of Lauritzen Kosan’s entire fleet of liquefied gas tankers, including 26 refrigerated ethylene, semi-refrigerated and pressurised gas carriers. OSM’s focus on the provision of personal service and expert seafarers, combined with delivering business efficiencies and economies of scale, has seen the company grow considerably in 2017. This latest contract ranks as its largest individual win of the year, bringing the number of vessels OSM provides services to far beyond the 500 mark.

Image: Damen

Damen Inks Deal for Three Ferries

At the Europort 2017 exhibition in Rotterdam, Damen Shipyards Group and Belgian ferry operator Aqualiner signed a contract for the delivery of three more Damen Waterbus 2407 vessels, for operations on the Scheldt in Antwerp. At the signing were Gerbrand Schutten (CEO Aqualiner), Maurice Swets (CEO Aqualiner), Dimitri Romijn (CFO Aqualiner), Arnout Damen (CCO Damen) and Jelle Meindertsma (Sales Manager Damen). The Waterbus 2407 is a new composite design from Damen, first unveiled just over a year ago.

Contract Awarded for Hybrid Icebreaking Tug

Spain's Gondan was tapped to build a tug designed by Robert Allan Ltd for the Port of Luleå (Sweden). Gondan’s new contract with Port of Luleå (Sweden) specifies a new hybrid-powered icebreaking escort tug -- a RAL TundRA 3600-H class icebreaking design. The vessel is designed to perform icebreaking (it is designed to break 1 meter of ice at a speed of up to 3 knots), ice management, escort, ship-assist, coastal towing, fire-fighting and navigation aids service duties. This 36m…

 PRNewsfoto/Shell

Shell Charters LNG Bunker Barge in US

Shell Trading (US) Company announced it has finalized a long-term charter agreement with Q-LNG Transport, LLC for an LNG bunker barge with the capacity to carry 4,000 cubic meters of LNG fuel. As the first of its kind to be based in the United States, the ocean-going LNG bunker barge will supply LNG to marine customers along the southern East Coast of the U.S. and support growing cruise line demand for LNG marine fuel. "This investment in LNG as a marine fuel for the US will provide the shipping industry with a fuel that helps meet tougher emissions regulations from 2020…

Photo: Eniram

Eniram Inks Service Deal with Corsica Linea

Eniram, a Wärtsilä company, has signed a five-year service agreement with Corsica Linea to take them to the forefront of digitalization and performance management. The agreement covers the fleet owned and operated by Corsica Linea between Marseilles and Corsica. These five vessels will be upgraded to the latest Eniram real-time performance management standards. With Eniram's solutions, Corsica Linea is able to reduce fuel costs and optimize its operations. In addition, Eniram's solutions take into account upcoming regulations concerning the monitoring…

Image: Hafnia Tankers

Hafnia Tankers in Sale and Leaseback Deal

Hafnia Tankers has successfully completed its first sale and leaseback in the Japanese market through the sale and leaseback of its 2010 built LR1 tanker, MT Hafnia Africa. The Vessel has been sold to a large Japanese private ship owning company with an 8-year bareboat charter back with annual purchase options from year four onwards. The Company has an option to extend the lease to 12 years. The Transaction entailed a sale of the Vessel at market value and a fully levered lease arrangement which gives rise to a positive liquidity effect of approx.

Great Lakes Awarded $213 Mln Dredging Contract

Dredging, environmental and infrastructure services provider Great Lakes Dredge & Dock Corporation announced the receipt of a $213.3 million award for the Post 45 Charleston Entrance Channel Maintenance and New Work Dredging – Contract 2 Project base contract. The scope of work includes excavation of approximately 8 million cubic yards of material to deepen a portion of the Charleston, S.C. harbor entrance channel. Work is expected to be completed by the end of 2020. Great Lakes expects the U.S. Army Corps of Engineers to award the Option work items of the contract within 120 days.

Image: Samsung Heavy Industries (SHI)

GTT Bags Samsung Heavy Order for FSRU

GTT, leading engineering company in containment systems for the shipping and storage in cryogenic conditions of LNG (liquefied natural gas) announces a new order from South Korean shipyard Samsung Heavy Industries (SHI) regarding a Floating Storage and Regasification Unit (FSRU). GTT will design the LNG integrated tanks. Its delivery is scheduled in late 2020. This contract is the sixth FSRU order obtained by GTT this year. GTT has already managed the new build of over 40 LNGC and FSRU.

Philippe Berterottière, Chairman and CEO of GTT and Ying CUI, CEO of Wison Offshore & Marine sign the agreement. Photo:  Wison Group

Wison Inks LNG Tie-up with GTT

China’s Wison Offshore & Marine has signed a strategic cooperation agreement with GTT, a provider of design and engineering of containment systems for maritime transportation and storage of LNG. Pursuant to the agreement, both parties will conduct a cooperation work on various LNG projects, such as LNG Carrier, LNG FSRU (Floating Storage Regasification Units), FLNG (Floating LNG unit) or other LNG floating unit with GTT membrane tanks. The cooperation with GTT will help to strengthen Wison’s position in offering clients floating LNG products in full range of capacities.

Golden Fan (Photo: Wallem)

Wallem Appointed Manager for Sanasia's New PCTC

Wallem Ship Management has been appointed to manage Sanasia’s new pure car/truck carrier (PCTC )vessel, currently under construction and to be delivered next year. Wallem siad it was first choice for Sanasia thanks to a relationship which goes back decades with Wallem having been appointed to manage Sanasia's vessel the Golden Fan back in 1995. After coming to Hong Kong in 1993, Haruki Aono started his career in the Hong Kong-based company, Sanasia. In 1995, when he secured his first vessel to be operated out of the region…

Image: Navibulgar

Navibulgar Orders Up to Six Bulkers

Bulgarian ship owner Navigation Maritime Bulgare (Navibulgar) confirmed the building of another two high-efficiency up-to-date 45000t bulk carriers. This deal is a continuation of the contract for four + two newbuildings of DWT 45 000 t, signed in July this year with one of China’s three largest shipyards. According to local press reports the Chinese yard is Jiangsu Yangzijiang Shipbuilding. The order constitutes another step toward the implementation of Navibulgar’s objective to operate toward the middle of the 2020s its own fleet of 1.5 million tons of average age below seven years.

Photo: Hyundai Heavy Industries

Hyundai Heavy Signed $400 Million Order to Build 5 VLOCs

South Korea’s Hyundai Heavy Industries (HHI) has clinched a deal worth approximately US$400 million to build five very large ore carriers(VLOCs) from Seoul-based shipper Polaris Shipping. "HHI has signed a $400 Million worth contract to build five 325,000 dwt VLOCs (Very Large Ore Carrier) with Polaris Shipping. It is the option exercised following the contract of ten same class VLOCs with Polaris Shipping on September 25," said a company statement. HHI Group’s shipbuilding affiliates have so far this year won new orders of 110 ships worth $ 6.7 billion, 90% of the $ 7.5 billion annual target.

Photo: CMA CGM

Global Ship Lease New Time Charter with CMA CGM

Global Ship Lease (GSL), a containership charter owner, announced that it has agreed to a new time charter with CMA CGM for an 8,063 TEU containership, the 2005-built OOCL Tianjin, which will be renamed GSL Tianjin. The vessel will be chartered for a period of three to eight months (at the charterer's option) at a fixed rate of $13,000 per day, commencing immediately upon re-delivery from its current charter on or around October 25, 2017. Ian Webber, Chief Executive Officer of Global Ship Lease…

Pic:  John Wood Group PLC

Wood Wins LNG Platform FEED Contract

The Honghua Group Limited has awarded a $12 million front-end engineering design (FEED) contract to Wood for its liquefied natural gas (LNG) platform development in the West Delta area of the Gulf of Mexico. The main objective of the FEED is to finalize the design of the world’s first offshore platform-based natural gas liquefaction and storage facility. Wood recently completed the pre-FEED for this project. Wood’s scope of work includes the onshore gas pre-treatment plant configuration and layouts…

Photo: BBC Chartering

BBC Chartering, Jumbo Shipping Team Up in Global Project Alliance

Two market leaders in their respective fields, Jumbo and BBC Chartering have agreed to an exclusive strategic co-operation; the “GLOBAL PROJECT ALLIANCE”, effective immediately. This unique co-operation between two family-owned companies brings together established and reputed heavy-lift expertise and massive fleet capacity. The alliance is a mutually-shared aspiration to provide comprehensive solutions to customers on a global scale. “Jumbo and BBC Chartering make a great match, which one can truly call ‘the biggest and the best’.

APL Renews Terminal Lease at Port of Kaohsiung

An agreement has been signed between American President Lines LLC, Taiwan Branch and Taiwan International Ports Corporation Ltd, to renew APL’s terminal lease at the Port of Kaohsiung, Taiwan. The signed deal retains APL’s current terminal plot in the Kaohsiung port for another 10 years from January 1, 2018 to December 31, 2027. Nicolas Sartini, APL Chief Executive Officer said, “Today, Intra-Asia container volume accounts for one-sixth of all containers moved globally. We see further growth prospects in this trade where APL is seeking to be a major player.

Photo: Pasha Hawaii

Pasha Hawaii to Deploy Jones Act Vessel to Puerto Rico

Pasha Hawaii will provide the U.S. Jones Act vessel Horizon Spirit to ship hundreds of containers from the West Coast in support of hurricane relief and rebuilding efforts in Puerto Rico. The Horizon Spirit serves as a drydock reserve ship in Pasha Hawaii’s container service between the mainland and Hawaii. Pasha Hawaii is partnering with family-owned Lipsey Mountain Spring Water, the nation’s largest governmental bottled water supplier for disaster relief, to bring approximately…

Gastrade Signs LNG Deal with State-owned DEPA

Greece's state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquified natural gas terminal in northern Greece, DEPA said. Greece currently has one LNG terminal on an islet off Athens. Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis. The project has been described as a 'project of common interest' by the European Union.

Goliath Gantry Crane. Photo: Konecranes

Konecranes for Bharat Mumbai Container Terminals

Bharat Mumbai Container Terminals Pte Ltd (BMCT), a wholly owned subsidiary of PSA International Pte Ltd (PSA), exercised its option to purchase a further 18 Konecranes Noell Rubber Tired Gantry (RTG) cranes. This order follows upon an initial order for 18 RTG and 4 RMG cranes that will be delivered by the end of this year. The 18 RTGs currently on order will be delivered in two lots: 9 units will be delivered by August 2018, and the remaining 9 by end-2018. At this time BMCT will operate a total of 36 Konecranes Noell RTG cranes and 4 Konecranes Noell RMG cranes.

Photo courtesy of BigLift

BigLift Expands with Two MC-Class Vessels

BigLift Shipping has decided to end its co-operation with Rolldock Shipping in the Joint Venture ”BigRoll Shipping” per January 1st 2018. From then on, the Heavy Transport vessels will be added to the BigLift fleet. BigLift Barentsz and BigLift Baffin are two identical state of the art Module Carriers. They advance BigLift’s shipping capabilities by offering a large flush deck for ro-ro cargos. The broader range of vessels will enable BigLift to offer clients even better customized shipping solutions of ever larger and heavier cargoes, both in large projects as in single shipments.

Photo: Bahri Data

Bahri Data, DNV GL Ink Deal to Leverage Big Data

Bahri Data, one of the six business units within Bahri, a leader in transportation and logistics, and DNV GL,  a classification society and recognized advisor for the maritime industry, have signed a contract to co-develop and jointly leverage their Big Data capabilities for safety, quality and compliance innovation. The contract laying the framework for the partnership, was signed in Hamburg, Germany, in the presence of Anwar Siddiqui, President of Bahri Data, Per Helge Pedersen…

Photo: APM Terminals

APM Terminals Tacoma Ends Lease

APM Terminals Tacoma concluded its operations on September 30, 2017, ahead of the December 31, 2017 lease expiration date, transferring the lease to Seattle-based SSA Marine who formed a new joint venture with Matson Lines, called SSAT, starting operations October 2, 2017. APM Terminals Tacoma was used primarily by the Matson Alaska Service, with twice-weekly sailings between Tacoma, Anchorage and Kodiak, Alaska, and a weekly service between Tacoma and Dutch Harbor, Alaska, handling a combined 190,000 TEUs in 2016. APM Terminals’ U.S.

(Photo: Foss Maritime Company)

Foss Joins FEMA's Hurricane Relief Operations

Foss Maritime Company said it has contracted with the U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA) to support the relief and rebuilding efforts in Puerto Rico and the U.S. Virgin Islands following Hurricane Irma and Hurricane Maria. Three accommodation vessels are being utilized and will serve as floating hotels, providing safe housing and warm meals for responders. With these vessels, Foss will be able to help feed and temporarily house 729 people.

Photo: Pioneer Marine

BaltNav to Handle Part of Pioneer Marine's Fleet

Pioneer Marine, a leading shipowner and global drybulk handysize transportation service provider enters into cooperation with BaltNav A/S, Copenhagen. The owner of 16 handy size bulk carriers commenced as of October 3rd, a cooperation with the Danish operator BaltNav. Part of Pioneer Marine's bulk carrier fleet will thereafter be commercially operated by BaltNav who already operates a fleet of about 15 handysize vessels. Dimitris Papoulis, S.V. Pioneer Marine is a leading ship owner and global drybulk handysize transportation service provider.

M/V Crystalia. Photo: Diana Shipping Inc.

Diana Shipping TC Contract for Crystalia With Glencore

Diana Shipping  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 Ice Class Panamax dry bulk vessels, the m/v Crystalia. The gross charter rate is US$11,100 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to about 15 months. The charter is expected to commence later today. The m/v Crystalia is currently chartered, as previously announced…

In order to fully optimize the hull and propose a more mature design, Metal Shark built a PBX running prototype hull, designated PB(X)-P1, which was extensively tested in a wide range of operating conditions. (Photo: Metal Shark)

Metal Shark Wins USN PB(X) Contract

Metal Shark won the contract to produce the U.S. Navy’s next-generation patrol boat, the PB(X), the replacement for the fleet of force protection boats currently in use with Navy Expeditionary Combad Command’s Coastal Riverine Forces (CRF). Subject to annual appropriations, the Navy intends to replace approximately 100 to 160 of its existing 25-ft. and 34-ft. CRF patrol boats with the larger and more modern PB(X) platform over the next 15 years. The Navy has placed an initial, immediate order for eleven of the new vessels.

Nitin Gadkari. Photo: Official FB page of Nitin Gadkari

Work Begins at Wardha Dry Port

The Indian Minister of Shipping Nitin Gadkari will perform the Bhoomi Poojan (Ground breaking ceremony) the Wardha dry port at Sindi (Railway) in Wardha, Maharashtra on 2nd October, 2017. The Dry Port is being developed by the Jawaharlal Nehru Port Trust (JNPT) in a bid to cater effective logistics services to the industries in Vidarbha region and improve cargo throughput at the Port. The proposed Wardha Dry Port is to be constructed over an area of 350 acres in phased development with a total estimated investment of Rs 500 Crore.

Photo: Scorpio Tankers

Scorpio Tankers Signs Sale-Leaseback with Bocomm

Scorpio Tankers has agreed to sell and leaseback five 2012 built MR product tankers (STI Amber, STI Topaz, STI Ruby, STI Garnet, and STI Onyx) to Bank of Communications Financial Leasing  (Bocomm Leasing). As of today, three of the five transactions have been completed, which has increased the Company’s liquidity by approximately $21 million in aggregate after the repayment of the outstanding debt. The sales price for each vessel is $27.5 million, and the Company will bareboat charter-in the vessels for a period of seven years at $9,025 per day per vessel.

Photo: Kalmar Global

Kalmar, K-Motion Heading to China

Kalmar, part of Cargotec, has received the first order of Gloria reachstacker with K-Motion Technology from Kunming Tianfu Logistics Co. Ltd. in China. The order was booked into Cargotec's 2017 third quarter order intake with delivery scheduled on September 2017. Kunming Tianfu Logistics Co., Ltd. is a well-known logistics company in the Yunnan Province, specialising in logistics and transportation services to large corporations within the region. The new equipment will join a fleet of four existing Kalmar reachstackers to support the company's growth in railway transport business. Mr.

A NORDEN dry cargo vessel loading salt in Patillos (Photo: NORDEN)

NORDEN to Ship Road Salt from Chile to US

NORDEN has entered into a 10-year contract effective 2020-2029 for the transportation of 4-5 million metric tons of road salt to be loaded in Caleta Patillos 1,400 kilometers north of the Chilean capital Santiago and discharged primarily on the American East Coast in ports between Boston and Baltimore. Road salt – or rock salt – will be carried on Supramax vessels. The contract covers 8-10 voyages per year of 50,000 metric tons each. A voyage is expected to take approximately 30 days and the vessels will pass through the Panama Canal to get from the South American West Coast to U.S.

Photo supplied by the company

CMA CGM Confirms CSSC Yards for Mega-Ships

CMA CGM, the world's third- largest container line, and CSSC Group have officially signed the contract for the construction of nine 22,000 TEU ships, the largest container vessels ordered to date. Representatives from CMA CGM, Hudong-Zhonghua Shipbuilding (Group), Shanghai Waigaoqiao Shipbuilding and CSTC signed the contracts in Marseille on September 19. The order from the French-based container shipping firm underlines a recovery in the industry this year following a prolonged downturn.

Maera. Photo: Diana Shipping Inc

Diana Enters TC Contract with Unico Logistics

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Unico Logistics, Seoul, for one of its Panamax dry bulk vessels, the m/v Maera. The gross charter rate is US$11,900 per day, minus a 5% commission paid to third parties, for a period of minimum nine months to maximum eleven months. The charter is expected to commence on September 19, 2017.

Graph: Drewry Benchmarking Club

Global BCOs Hit by Rising Contract Rates from Asia

Contract freight rates paid by Beneficial Cargo Owners to move their products by container have increased for a 4th consecutive quarter, according to actual contract rate data from the Drewry Benchmarking Club. Average contract rates on two major container trade routes - from Asia to North Europe and North America – have increased by another 4% between the second and the third quarter of this year. This means that the latest Drewry Benchmarking Club Contract Index has increased by 39% in the year to the third quarter, based on $2 billion of ocean freight spending.

Photo:  Eni

CNPC, Eni Sign LNG Deal

China National Petroleum Corporation (CNPC) and Italy’s Eni signed a cooperation agreement that includes assessing opportunities in the gas and LNG value chain. "CNPC and Eni signed cooperation agreement today in order to cooperate in oil & gas exploration and production, gas and LNG value chain opportunities, trading and logistics opportunities, refining and petrochemicals. The partnership will regard both China and overseas activities," said a statement from the company. The signing took place in Rome at Eni's headquarters during a meeting between the Chairman of CNPC…

(File photo: Port of Long Beach)

CMA CGM Confirms Order for Nine Mega Ships

CMA CGM, the world's third-largest container shipping firm, said it expected operating profits to improve further in the second half as the market continues to recover, and confirmed an order for nine giant vessels. The announcements by French-based CMA CGM underlined a recovery in the industry this year after a prolonged downturn that sparked a series of consolidation deals. In a second-quarter results statement on Friday, CMA CGM said its board had approved an order for nine container ships…

File Photo: DryShips Inc

DryShips Commences 5 Year TC for Second VLGC

DryShips, a diversified owner of ocean going cargo vessels, announced today that, its second Very Large Gas Carrier commenced its time charter on a fixed rate with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years. The Company expects a total gross backlog associated with this time charter of up to USD 92.7 million including the optional periods. Five days ago, DryShips announced that it has taken delivery of the previously announced high specifications second newbuilding VLGC.

Photo: BMT

BMT Secures Coal Jetty Engineering Contract

BMT Group subsidiary BMT Asia Pacific (BMT) will provide detailed engineering design and risk management consultancy services for a new coal unloading jetty and associated bulk handling system at the Tanjung Bin Energy (TBE) Power Plant in Johor, Malaysia. The contract was awarded by a Consortium led by HSL Constructor Sdn Bhd, and including Tecgates Engineering (M) Sdn Bhd and Gema Antara Sdn Bhd. “BMT has a strong presence in Malaysia and is well respected for its technical capabilities and expertise having worked on several other local projects and as such…

FMC Commissioner William P. Doyle

Cyber Attacks Threaten Shipping & Dominate Maritime News

The maritime industry must redouble its efforts to secure IT systems and data. In June, Maersk Line A/S’s information systems were severely disrupted by the so-called Petya virus. FMC provided Maersk with relief to help them get through the difficult situation. In Mid-July, a researcher penetrated a ship’s internet system through its very small aperture system (VSAT). The ship was operating in the South America trade. An internet security researcher identified as “x0rz” discovered that many shipboard VSAT systems can be penetrated through the public internet…

Photo:  CMA CGM

GSL Extends TC with CMA CGM

Global Ship Lease, Inc., a containership charter owner,  has announced that it has signed time charter extensions with CMA CGM for two 2,207 TEU containerships, the 2002-built Julie Delmas and the 2003-built Delmas Keta. The vessels will be chartered for a period of 12 months (plus or minus 45 days at charterer’s option) at a fixed rate of $7,800 per vessel per day, commencing immediately upon expiration of the current time charters on September 11 and 20, 2017, respectively.

Rendering of the VARD 6 01 (Image: Vard)

Vard Wins Expedition Cruise Contract

Vard Holdings Limited said it won a contract for the design and construction of an expedition cruise vessel for Coral Expeditions of Australia. Newly developed by Vard Design in Norway in cooperation with the customer, the vessel is specially designed for small ship expedition cruises to remote and exotic destinations in the regions of Asia-Pacific. The vessel of VARD 6 01 design, measuring 93.5 x 17.2 meters, with room for 120 guests. True to the Coral Expeditions business concept…

Ismene. Photo:  Diana Shipping Inc

Diana Shipping TC Contract for m/v Ismene with DHL

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with DHL Project & Chartering Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$12,000 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter is expected to commence on September 16, 2017. The m/v Ismene is currently chartered, as previously announced…

Dockwise Bags Marine Transport Contracts Worth $50 Mln

Royal Boskalis Westminster N.V. said its wholly-owned subsidiary Dockwise has recently been awarded a number of marine transport contracts with a combined contract value of approximately $50 million. Dockwise was awarded a contract by Husky Oil Operations Ltd. for the transportation of the West White Rose Topside from Texas, U.S. to Newfoundland and Labrador, Canada. The contract includes the engineering, preparation and execution of the loading, transport and discharge operation of the topside.

DSME CEO Jung Sung-leep (left) and HMM CEO C.K. Yoo (right). Photo: Hyundai Merchant Marine

HMM Confirms Contract With DSME For Five VLCCs

Hyundai Merchant Marine (HMM) announced that it has signed a formal contract with Daewoo Shipbuilding & Marine Engineering (DSME) for construction of five 300,000 dwt Very Large Crude Carriers (VLCC) with an option of five more vessels. HMM’s letter of intent with DSME for five VLCCs (+5 option) was singed back in April 2017. Under the agreement, DSME will build five VLCCs for HMM worth approx. KRW 470 billion (USD 420 million) that will be financed by the New Shipbuilding Program.

Photo:  Nordic American Tankers

NAT Wins TC Contract with BP

Nordic American Tankers Limited (NAT) has entered into a 2 year time charter (TC)  with British Petroleum (BP). This follow's NAT's TC arrangements with Shell, ExxonMobil and other major oil companies both in the West and in the East. "The minimum rate is well above our cash break-even level with an index linked formula providing for upside potential to NAT. Commencement is mid September; i.e. in about 10 days," said a statement from the company. "As an example of the income potential of NAT…

Image: Drewry Shipping Consultants Limited

Drewry Warns BCOs to Adapt Their Contract Strategy

International transport and logistics executives using container shipping are facing the biggest shift in their ocean provider base for 20 years and must adapt their procurement and contract strategy, according to ocean freight procurement consultancy Drewry Supply Chain Advisors. In the last five years, beneficial cargo owners have been able to secure large reductions in freight costs by running traditional competitive bids with numerous providers in an over-supplied, fragmented market.

Photo: Vitol

Vitol Signs Deal with Angola LNG

Angola LNG (ALNG) and Vitol, the world’s largest independent energy dealer, have entered into a multi-year LNG sales agreement. Under the agreement, ALNG cargoes will be delivered to Vitol at destinations around the world. Commenting on the sales agreement, Artur Pereira, CEO, Angola LNG Marketing Ltd, said: “This sales agreement is an important step for Angola LNG and demonstrates our ability to respond to the needs of our customers and the market. Pablo Galante Escobar, Head of LNG, Vitol, said; “We are delighted to have entered into this agreement with Angola LNG.

Photo: NSB GROUP

NSB Adds 31 Ships

German ship manager NSB Group  has added 31 new ships under its management. In the course of the new joint venture named PT Asia Marine Temas fleet of NSB grows up to 96 vessels in total. At the same time NSB extends its business in Southeast Asia. Partner of the new joint venture is Indonesian shipping company Temasline. Headquarter of the company is located in Jakarta. Until 2020 the corporate structure of the group of companies will undertake further changes. REEDEREI NSB is extending international ship management activities under corporate brand name NSB GROUP.

Korean Shipyards Bag $1.5bln Newbuild Order from MSC

Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - two major shipyards in South Korea -  are poised to sign a deal worth $1.5 billion to build container ships for Mediterranean Shipping Company (MSC), according to the Financial Times. The report said that this deal is the latest signal that the South Korea’s troubled shipbuilding industry is showing signs of recovery, after large losses posted by both companies in recent years because of a lack of orders. MSC is working on an order for up to 11 container vessels, the report said.

Graph: Drewry Shipping Consultants Limited.

Container Equipment Leasing Rates Under Pressure

Leasing companies are tightening their stranglehold over container equipment ownership as ocean carriers cut back on new purchasing and sell older inventory for leaseback, Drewry's report said. But the lessors’ rapid expansion has come at a price as the combination of low borrowing costs and competitive pressures has had an adverse impact on lease rates and accompanying investment returns. Lease rates slumped to a new low in 2015 and although the improved market climate since has prompted some recovery, they remain well below the long-term average.

File Image (CREDIT: AdobeStock / (c) Carabay)

Traders Look to Asia Products for U.S. Options

Traders adding U.S. port options to cargoes for flexibility. Traders are scrambling to find oil products in Asia to ship to the United States and Latin America after Hurricane Harvey shut almost a quarter of U.S. refining capacity, several trading and shipping sources told Reuters on Wednesday. Many are also asking for ships to have a U.S. option added to their original destination to allow for flexibility in sending the cargoes across the Pacific, shipbrokers said. At least one oil products tanker…

File Image (CREDIT: AdobeStock / (c) Marina Ignatova)

COSCO Books H1 Profit of $288 mln

China's COSCO Shipping Holdings Co Ltd reported a first-half profit on Wednesday and forecast that improved demand in the container shipping market would continue for the rest of the year. China's largest shipping group, which last month offered to buy a Hong Kong peer to become the world's third-largest container liner, said January-June net profit was 1.86 billion yuan ($288.32 million). That matched an estimate it announced in July, citing improved market conditions. It also booked revenues of 43.5 billion yuan for the period.

Thyssenkrupp Wins Order to Build Fertilizer Plant in Brunei

Germany's Thyssenkrupp said it has won an order from Brunei to build a fertilizer plant in the southeast Asian state, in a much-needed boost to its struggling industrial solutions division. It did not disclose the value of the contract, awarded by state-run Brunei Fertilizer Industries. However, an industry source familiar with the matter said the order was worth a high triple-digit million euro sum. The plant, to be completed by 2021, will have a daily production capacity of 2,200 tonnes of ammonia and 3,900 tonnes of urea, Thyssenkrupp said.

Photo: National Shipping Company of Saudi Arabia (Bahri)

Bahri to Build 4 Bulk Carriers for USD 120mln at Hyundai Heavy

The National Shipping Company of Saudi Arabia (Bahri) announces that its subsidiary Bahri Dry Bulk Company (owned 60% by Bahri) (BDB) has signed contracts with Hyundai Heavy Industries (HHI) to build 4 bulk carriers. These carriers will be delivered during the first half of 2020. The financial impact of these contracts will appear after the delivery of the vessels. These vessels are designed to the latest international technical specifications and are fitted with environmentally-friendly specifications and high efficiency in fuel consumption…

Photo: Capital Product Partners L.P.

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.

Image: Keppel Offshore & Marine

Keppel AmFELS to Build Two LNG Fueled Containerships

Keppel AmFELS, a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) in the United States (US), has secured a contract worth more than US$400m from Honolulu-based Pasha Hawaii for the construction of two Liquefied Natural Gas (LNG) fueled containerships. The dual fuel LNG vessels will be built to Keppel's proprietary design with delivery of the first vessel expected in 1Q 2020, and the second vessel in 3Q 2020. Simon Lee, President of Keppel AmFELS said, "We are pleased that Pasha has chosen us to build their first two LNG fueled containerships to our innovative design.

From the left ESL Shipping represented by Tero Valu, Ship Operator and Mikke Koskinen, Managing Director. Skangas’s Tommy Mattila, Sales and Marketing Director and Jouni Bedda, Sales Manager. Photo: Skangas

LNG from Skangas

Skangas and ESL Shipping have entered into an agreement for providing gas fuel to ESL’s LNG-powered bulk carrier newbuildings. These two new vessels will start operating during first half of 2018. The first of the two vessels was named “Viikki” in June 2017, honoring the shipping company’s tradition to name its ships for places in Helsinki. “This agreement is a milestone for Skangas. Ms Viikki will be the first vessel that we will serve from the new LNG terminal in Tornio”, explains Kimmo Rahkamo, CEO of Skangas. “There will be more to come. This is supported by ESL Shipping.

Verifavia to Provide IMO DCS Services for Liberian-flagged Ships

Emissions verification company for the transport sector Verifavia said it has signed a strategic cooperation agreement with the Liberian Registry to conduct IMO DCS and EU MRV verification services for Liberian-flagged vessels. The Liberian Registry – the second largest in the world – includes more than 4,200 vessels aggregating 150+ million gross metric tons, representing 12 percent of the world’s ocean going fleet. As part of the cooperation – the company’s first major step…

Photo: Cargotec

Kalmar Signs Deal with DP World Australia

Kalmar, part of Cargotec, continues its long-term cooperation with DP World Australia, the country's largest stevedore, with orders of 38 new machines for its new logistics arm, DP World Logistics Australia. The orders include 7 Kalmar reachstackers, 11 loaded and 20 empty container handlers. 22 units have successfully been delivered to DP World Logistics Australia's Botany Intermodal terminal with the remaining equipment to be delivered by September 2017. The order was booked into Cargotec's 2017 first quarter intake.

Seaspan Takes Delivery of 11,000 TEU Containership

Seaspan Corporation said it has accepted delivery of the MSC Shuba B, an 11,000 TEU containership that will commence a 17-year fixed-rate bareboat charter with Mediterranean Shipping Company S.A. (MSC). Upon completion of the bareboat charter period, MSC is obligated to purchase the vessel for a pre-determined amount. The MSC Shuba B, which was constructed at HHIC-PHIL INC., is Seaspan’s first 11,000 TEU SAVER design containership in a series of five ships, all of which are signed to bareboat agreements with MSC.

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.

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.

(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.

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.

(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.

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:  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: 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: 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.

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.