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Tuesday, February 19, 2019

Nordic Tankers News

Pic: Nordic Tankers

Japan's MOL Acquires Nordic Tankers

Japanese shipping giant MOL's Chemical Tankers unit has agreed to take full control of Triton-owned Nordic Tankers. The deal expected to close in February 2019.Denmark-based Nordic Tankers said in a press release that its current sole shareholder Triton agreed to sell and deliver 100% of shares to MOL Chemical Tankers (MOLCT) and MOLCT buys and takes delivery of 100% of shares of NT from Triton, in each case together with all rights attached to them on and with effect from the…

Image: Nordic Tankers

Danish Compatriots Test Emissions Monitoring Solution

Danish shipping company Nordic Tankers, Dania Ship Management and Danfoss IXA have been cooperating on testing new innovative technology for monitoring emissions on an ongoing basis.The chemical tanker company hailed that the result is a front runner solution to ensure global enforcement of the IMO’s requirements for sulphur emissions way before any legislation is pushed through.“The sensor equipment from Danfoss IXA is an innovative piece of technology that enables ship owners to continuously prove compliance with the IMO’s requirements for sulphur emissions.

Photo: Nordic Tankers A/S

Crystal Nordic Sold to Essberger Tankers

Nordic Tankers and Embarcadero Maritime (a joint venture between Borealis Maritime and KKR) have signed and closed an agreement to sell the jointly held company Crystal Nordic to John T. Essberger in Hamburg, a leading owner and operator of chemical tankers in Europe. Crystal Nordic was established following the combination of Nordic Tankers’ inter-European stainless steel chemical tanker business with Crystal Pool in 2015. The parties have agreed not to disclose any financial information.

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…

Clipper, Dania Partner on Fleet Management

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…

NordicMarianne. Photo: Nordic Tankers A/S

Nordic Tankers joins forces with Borealis Maritime

Nordic Tankers and Borealis Maritime Ltd has announced the intention to form a jointly held company, Crystal Nordic A/S – a strong player in the short-sea, ice class chemical tanker trade in the Baltic and North-Western European market. Crystal Nordic A/S will be owned on a 50/50 basis by Nordic Tankers and Embarcadero Maritime (Borealis Maritime). The new company will take over the respective ice classed stainless chemical tankers businesses from its owners, which currently operate under the Nordic Tankers and Crystal Pool trade names.

Trident Alliance Welcomes New Members

Trident Alliance, the shipping industry initiative for fair competition through robust enforcement of maritime sulphur regulations, explores solution initiatives and welcomes four new members. Since its inception in July, the Trident Alliance has engaged in a number of industry conferences, working groups and media interviews to realize its objective of raising awareness around the lack of enforcement of sulphur regulations and the risk to human health, the environment and fair competition that this entails.

Steen Nygaard Madsen (Photo: Thome)

Thome Appoints Tanker Fleet COO

Thome Ship Management has added to its senior management tier by appointing Steen Nygaard Madsen as Chief Operating Officer (COO) for the Thome Ship Management Tanker Fleet. Madsen will take up the position on June 1 this year, bringing with him experience in running ships, stemming from his seagoing career as well as his time with A.P Moller in Copenhagen where he was operationally responsible for a large section of its fleet. Previously, he was also Technical Director for Nordic Tankers/Herning-Shipping .

Jan Kopernicki

Kopernicki joins BMT Group Board

BMT Group Ltd., an international design, engineering and risk management consultancy, has announced that Jan Kopernicki has joined the Board of Directors as a nonexecutive Director. Jan has extensive experience in the shipping industry, with his career at Shell spanning over 40 years. As Head of Shipping until his retirement in 2011, his global team was responsible for Shell’s portfolio of oil tanker, LPG and LNG vessels and for advising on safety and environmental aspects of shipping.

SHIPPINGInsight 2013 Announces Agenda and Speaker List

The SHIPPINGInsight conference producers have finalized the agenda and confirmed speaker list for the 2013 Fleet Optimization Conference, scheduled for Oct. 22-24 at the Sheraton Stamford Hotel in Stamford, Conn. “The theme for this year’s conference is ‘Connect and Engage,’” said conference co-producer Frank Soccoli. “We are bringing together an impressive lineup of speakers, moderators, panelists, sponsors, exhibitors and delegates representing all segments of the shipping industry.

Registration Open for SHIPPINGInsight Fleet Optimization Conference

The producers of the SHIPPINGInsight Fleet Optimization Conference have announced that online registration is now open. Following a successful inaugural conference in 2012, the 2013 event will take place October 22-24 at the Sheraton Stamford Hotel in Stamford, Conn. It will bring together senior executives from shipowners, ship managers, classification societies, regulatory bodies, consultancies and suppliers to address the pressing issues facing fleet operators in the current business climate.

SHIPPING Insight

SHIPPINGInsight 2013 Agenda Published

The SHIPPINGInsight producers announced that the agenda for the 2013 Fleet Optimization Conference has been finalized. Now in its second year, the 2013 SHIPPINGInsight Conference addresses the challenges, solutions, technologies and best practices for improving efficiency in ship and fleet operations. It will take place Oct. 22-24 at the Sheraton Stamford Hotel in Connecticut. Keynote speakers will be Anthony Chiarello, CEO of Tote, Inc., and Yasushi Nakamura, executive vice president of ClassNK.

FSL Trust: 2012 Was a 'Dismal' Year for Shipping

"The industry witnessed another dismal year as weakness in freight rates and asset values persisted in 2012. This resulted in a spate of defaults, restructurings and bankruptcies as shipping companies struggled with the poor market conditions. Unfortunately, FSL Trust was not spared from the unprecedented downturn. FSL Trust reported full year 2012 revenue of US$106.1 million, which was 4.2 per cent lower compared to the previous year. Net cash generated from operations declined by 25.4 per cent to US$47.6 million.

Photo: Shipping Insight

Chiarello to Keynote 2013 SHIPPINGInsight

Anthony Chiarello, president and CEO of TOTE, Inc., will be the keynote speaker at the SHIPPINGInsight 2013 Fleet Optimization Conference, Oct. 22-24 in Stamford, Conn. Prior to TOTE, Inc., the largest of five operating groups owned by Seattle-based Saltchuk Resources, Inc., which includes five companies organized in maritime, logistics and ship management lines of business, Chiarello, was the COO and executive vice president at NYK Logistics (Americas), Inc. Prior to NYK, Chiarello was with the AP Moller/Maersk organization for 16 years.

Transas: Increasing ECDIS Reliability

Transas announced that the Transas Navi-Sailor is the first ECDIS in the market compatible with the new Admiralty Information Overlay. The Overlay includes all Temporary and Preliminary Notices to Mariners (T&P NMs) and provides navigationally significant information from UKHO’s ENC validation programme. The overlay is displayed as a single layer on top of the basic ENC and it will be available within the standard Transas Admiralty Data Service (TADS) license, via the Transas Navi-Sailor ECDIS.

Nordic Tankers, WOMAR establish “Nordic Womar” JV

Nordic Tankers A/S and WOMAR Logistics Pte. Ltd. have reached an agreement to establish a jointly owned independent pool management company with the name of “Nordic Womar”. Nordic Womar will initially manage two pools of coated chemical tankers with a total of approximately 40 vessels in the 10,000 to 25,000 deadweight tonnes (dwt) segment. The agreement is made in continuation of the joint marketing agreement that commenced 1 June 2010, where Nordic Tankers and WOMAR started marketing each others' coated chemical tankers in the range of 10…

MOL, Hafnia Agree To Jointly Operate New LR1 Pool

On the May 1, “Straits Tankers Pte Ltd”, a MOL and Hafnia Management strategic J/V set up in Singapore, will be ready to market 25 coated LR1’s, entered into the “Straits Tankers LR1 Pool”. The goal is to further utilize the fleet to flexibly meet diversifying needs of customers who will be serviced from the Straits Tankers offices in Singapore and Copenhagen, Denmark. The Pool consist of LR1 product tankers from Japanese shipowner MOL, Swedish shipowners Marinvest and Gotlandsbolaget and Danish shipowner Nordic Tankers.

Danish Shipowners: On Growth track in Wake of Economic Crisis

Denmark has retained its position as one of the world's leading maritime nations, despite the economic crisis. In terms of operated tonnage, Denmark is today the fifth largest maritime nation in the world. In all, Danish shipping companies transport some 10% of the world trade. Henrik Segercrantz reports on Danish maritime issues. Danish shipping is global, with trade within Europe counting for only a quarter of the industry’s total revenues. The primary markets are the US and China, making up more than 15 percent of the revenues. "Here in Denmark the shipping sector is really a success.

Nordic Tankers Marine Chooses Transas Marine Course

Nordic Tankers Marine (Denmark) has chosen Transas Marine solutions for the ECDIS Training of its officers. Transas Marine has supplied 35 sets of Transas ECDIS Computer Based Training to Nordic Tankers Marine. Mr. Hanus Mikkelsen, Director Marine HR, Nordic Tankers Marine says: 'Training is a key element in transition to ECDIS. All our officers attend 5-days ECDIS generic training course ashore and now ECDIC CBT from Transas will be a perfect supplement to enhance the users' knowledge and fulfill familiarization on Type Specific equipment required by PSC and ISM Code and…

Nordic Tankers: 2Q "Slightly Improved"

The second quarter of 2011 saw slightly improved time charter equivalent (TCE) revenue resulting in improved results compared to the first quarter 2011, and led to an impoved H1 2011 EBITDA compared with H1 2010. EBITDA in Q2 2011 was $4.8 million, up from $1.5 million in Q1 2011, and cash flow was a positive USD 4.3 million compared to a negative cash flow in Q1 2011 of USD 6.1 million, Nordic Tankers reported for the first half of 2011. In H1 2011 Nordic Tankers’ TCE revenue increased by $20.4 million compared to H1 2010 to $51.2 million ($30.8 million).

Nordic Tankers: Weak Rates Drive Revenues Down

In its summary of interim report Q3 2011, Nordic Tankers said that in the third quarter of 2011 the time charter equivalent (TCE) revenue dropped back to the low levels of the first quarter of 2011. The main reason was the continued weak freight rates, a result of low general market activity combined with a slow summer market in the first two months of the quarter. EBITDA was $0.7 million in Q3 2011, down from $4.8 million in Q2 2011. Nevertheless compared to the first nine months of 2010 both revenue and EBITDA have developed positively…

(Source: FSL)

FSL TRUST: Vessel Portfolio Positioned for Stability, Opportunity

SINGAPORE – FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust, announced the financial results of FSL Trust for the quarter ended 31 March 2012. Revenue for 1QFY12 rose $2.2 million or 9.3% year-on-year to $26.1 million. The net increase in revenue was contributed by the full quarter lease revenue from the two vessels leased to TORM A/S which were acquired in June 2011, as well as higher freight income from the vessels trading in the spot market.

Nordic Shipholding Sells Chemical Tanker Activities

Nordic Shipholding A/S completes sale of chemical tanker activities. In continuation of company announcement no. 1/2012 published via NASDAQ OMX on 27 March 2012, Nordic Shipholding A/S (formerly Nordic Tankers A/S) today has completed the sale of its chemical tanker activities to a company controlled by Triton, a European investment company. The acquiring company has today changed name to "Nordic Tankers A/S".