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Monday, August 19, 2019

Owned Subsidiary News

Photo: Veecraft Marine

New Shipbuilding Facility in Cape Town

Veecraft Marine, a wholly-owned subsidiary of Paramount Maritime Holdings and African-based global aerospace and technology company Paramount Group,  opened its new premises at a ceremony held in Cape Town. Veecraft Marine has manufactured more than 60  maritime platform solutions in various classes since its inception in 2002, totaling more than $130 million of contracts. Leveraging its specialization in the construction of 20 to 30 meter vessels, the company has secured an order book valued at more than $13.5 million.

Image: Hamburger Hafen und Logistik AG (HHLA)

RoPax Ferry Finbo Cargo Enters Muuga Port

The Estonian terminal operator HHLA TK Estonia is strengthening its position as a RoRo hub in the Baltic region.The wholly owned subsidiary of Hamburger Hafen und Logistik AG (HHLA) said in a press release that the Finnish ferry company Eckerö Line recently began connecting the port of Muuga, where HHLA TK Estonia operates a multi-function terminal, with Vuosaari in Finland. Twice daily, the RoPax ferry Finbo Cargo enters the port of Muuga, which is about 20 kilometres east of the Estonian capital, Tallinn.

Pic: Diana Shipping Inc

Diana Shipping Fixes Selina with Ausca

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Selina.The global shipping company specializing in the ownership of dry bulk vessels, said that the gross charter rate is US$11,750 per day, minus a 5% commission paid to third parties, for a period of minimum seven months to maximum nine months.The charter commenced on July 15…

M/v Atalandi. Pic: Diana Shipping Inc.

Diana Shipping Fixes Atalandi with Uniper

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Ice Class Panamax dry bulk vessels, the m/v Atalandi.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$12,250 per day, minus a 5% commission paid to third parties, for a period of minimum 11 months to about 13 months. The charter is expected to commence on July 7…

Pic: Exmar

Exmar Repays its 2014 Bond

Exmar Netherlands,  a fully owned subsidiary of Belgium’s Exmar and a manager of specialized floating assets, has completed the bond repayment issued in 2014, extended in July 2017 and maturing in July 2019.According to a press note from the Nicolas Saverys-led shipowner,  the outstanding senior unsecured bond was issued in 2014.This repayment has been funded partially with the new, unsecured NOK 650 million ($75 million) bond issued by Exmar on May 16, 2019, with final maturity in May 2022…

AtoB@C Begins Towage in Port of Raahe

AtoB@C Shipping, a ship operator and logistics company, said that it would start to offer port towage and related services in Port of Raahe, Finland in August 2019.A press release from the wholly-owned subsidiary of the Finnish dry bulk shipping company ESL Shipping said that it offers the services equally to all vessels. Port towage and related services shall be offered 24/7 all year round.“Our long term presence in Port of Raahe provides an excellent base for also offering of towage services.

Pic: Diana Shipping

Diana Shipping Fixes P. S. Palios with SwissMarine

Diana Shipping 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 P. S. Palios.The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the gross charter rate is US$17,500 per day, minus a 5% commission paid to third parties, for a period of about eight months to about nine months.The charter commenced earlier today. The m/v P. S. Palios was chartered, as previously announced, to Koch Shipping Pte.

George Toma (Photo: Furuno USA)

Furuno USA Hires Toma

Furuno USA has hired a new commercial business development manager. Based in Houston, Texas, Mr. George Toma will play a key role in establishing and developing business relationships with commercial ship owners, operators, and builders around the country to promote the Furuno product line.Toma comes to Furuno with forty years of experience in the maritime industry. He has served on the Board of Directors for RTCM (Radio Technical Commission for Maritimes), and received the Outstanding Professional Achievement Award in 2013 from the U.S. Merchant Marine Academy Alumni Association.

Image: Port NOLA

Port NOLA Names Mike Stolzman as GM

The New Orleans Public Belt Railroad Corporation (NOPB), a wholly owned subsidiary of the Port of New Orleans (Port NOLA), has named M.D. (Mike) Stolzman as its new General Manager, effective immediately.Stolzman, a veteran railroad executive with extensive short line and Class I rail experience, will report to Brandy D. Christian, President and CEO of Port NOLA and CEO of NOPB, which is a Class III railroad on the nation’s fourth largest rail gateway that connects with six Class…

Image: Orient Overseas (International) Limited

OOIL, JD, Cosco JV for Logistics

Gold Talent, Cosco Shipping Logistics and JD Logistics  entered into a cooperation agreement to jointly invest in online logistics platform EShipping through a joint venture (JV) formation.Gold Talent is a wholly-owned subsidiary of Hong Kong-based logistics major Orient Overseas (International) Limited (OOIL). Cosco Shipping Logistics is an affiliate of Chinese state-owned Shipping and logistics services supplier company China Cosco Shipping Corporation Limited. JD Logistics…

Photo: BSCS

BSCS Wins Cruise Ship Management Deal

Bernhard Schulte Cruise Services (BSCS) was awarded technical management of Jalesh Cruises’ new vessel, MS Karnika. (formerly Pacific Jewel).The 70,285-ton, 2,000-passenger Crown Princess-class cruise ship is presently undergoing comprehensive refurbishment at Sembcorp Marine Admiralty Yard in Singapore prior to entering service from Mumbai, India in mid-April 2019. MS Karnika will operate cruises from India and Dubai for the duration of 2019.BSCS Managing Director Les Royle and Deputy Managing Director Martin Springer worked closely with Jalesh Cruises on the new partnership.

Pic: Castor Group

Castor Maritime Fixes Magic P with Oldendorff

The international shipping company specializing in the ownership of dry-bulk vessels Castor Maritime announced that, through a wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GMBH & Co KG Luebeck for its Panamax vessel Magic P.The owners of a dry bulk vessels said in a press release that the gross charter rate is US$ 11,250 per day, for a period of a minimum of five months up to a maximum of about eight months (for the first 30 days period the daily gross rate is US$ 9,000).

 Pic: GasLog Partners

GasLog Acquires Glasgow

The liquefied natural gas (LNG) carriers  operators GasLog Partners and  GasLog announced that the Boards of Directors of both companies and the Conflicts Committee of GasLog Partners have approved entering into an agreement for the Partnership to purchase from GasLog 100% of the shares in the entity that owns and charters the GasLog Glasgow.According to a press release from the company, the aggregate purchase price for the Acquisition will be $214 million, which includes $1 million for positive net working capital balances to be transferred with the vessel.

Salt Lake City. Pic: Diana Shipping

Diana Shipping Fixes 'Salt Lake City' with Cargill

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Salt Lake City.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$9,750 per day, minus a 4.75% commission paid to third parties, for a period of minimum 20 months to maximum 23 months. The charter is expected to commence on March 14…

M/V San Francisco. Pic: Diana Shipping Inc

Diana Fixes m/v San Francisco with Koch

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 Newcastlemax dry bulk vessels, the m/v San Francisco.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period of minimum 19 months to about 22 months. The charter commenced earlier today.The “San Francisco” is a 208…

Pic: Subsea 7 S.A.

Subsea 7 Buys-back Shares

With the market looks upbeat, Luxembourg-based subsea services vessel owner Subsea 7 announced a share buy-back programme."Reflecting Subsea 7’s strong financial and liquidity position and improving market outlook as well as a rebalancing of cash returns to favour share repurchases, the Board of Directors authorised a new share repurchase programme of up to USD 200 million," said a press release from the subsea engineering, construction and services company serving the offshore…

Inland Port Development: Take the train

The intermodal equation for any deep draft port is incomplete without its inland component.It’s definitely a work in progress.There are inland ports in the truest sense: major lakefront and riverfront cities such as Chicago and St. Louis, including even Duluth and Tulsa, with vast distribution areas, wildly varying cargo, roads, trains and waterways to serve them.And, then, there are inland ports, dry ports that have vast distribution areas, containerized cargo delivered from true oceanfront ports…

Pic: Diana Shipping

Diana Shipping Fixes Two Dry Bulkers with SwissMarine

Diana Shipping has announced time charter contracts for m/v Newport News and m/v Los Angeles with SwissMarine.The 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 Newcastlemax dry bulk vessels, the m/v Newport News.The gross charter rate is US$16,500 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to maximum 19 months.

LNG bunkering vessel supplying a containership. Pic: MOL

MOL Signs LNG Charter with Pavilion Gas

Mitsui O.S.K. Lines (MOL) has announced that it has signed a long-term charter contract to operate Asia's largest (12,000m3-class) LNG bunkering vessel in Singapore, the world's largest fuel supply port, with Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy.Demand for LNG as bunker fuel is expected to grow on a global scale as stricter SOx regulations take effect in January 2020. Singapore's Maritime and Port Authority (MPA) is focusing considerable effort on development…

Pic: Diana Shipping Inc.

Diana Shipping Fixes Houston with Koch

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 Houston.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$10,125 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to about 17 months. The charter commenced on February 17…

(L-R) m/v Crystalia and m/v Maera. Pic: Diana Shipping Inc.

Diana Fixes Crystalia, Maera with Glencore

Greek dry bulk owner 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$10,500 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to maximum 17 months. The charter is expected to commence on February 23, 2019.The “Crystalia” is a 77,525 dwt Ice Class Panamax dry bulk vessel built in 2014.Additionally…

M/v Danae. Pic: Diana Shipping Inc

Diana Shipping Fixes Danae with Phaethon

Diana Shipping 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 Danae.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$8,100 per day, minus a 5% commission paid to third parties, for a period of minimum 11 months to maximum 14 months. The charter is expected to commence later today.The “Danae” is a 75…

Pic: Kingston Freeport Terminal Limited (KFTL)

KFTL Hits Container Moves Milestone

Kingston Freeport Terminal Ltd (KFTL), a Jamaican consortium formed by French global terminals operator CMA CGM and its majority-owned subsidiary Terminal Link, said it recorded the best performance ever in the history of the port of Kingston in terms of container moves.Kingston Freeport, which has leased Kingston Container Terminal, KCT, under a 30-year concession, said a total of 3,304 moves were handled within 24 hours of operation on the Post-Panamax vessel Cosco Beijing, which arrived at the terminal on January 24.

Pic: Diana Shipping

Diana Shipping Fixes with Uniper and Phaethon

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite, for a period of minimum 14 months to maximum 17 months.The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the gross charter rate is US$5,000 per day for the first five (5) days of the charter period and US$12…

Crowley's LNG fueled con/ro ship El Coqui, arriving at Puerto Rico for the first time. (Photo courtesy Crowley)

For JAXPORT, LNG Spells Success

‘A thousand firsts’ and a constantly growing list of players underscores the rapid development of LNG as a fuel – especially along the East Coast of the United States.Click on the headlines for the phrase “LNG Bunkering” and you immediately learn that it is an industry of a thousand firsts and a constantly growing list of players.“Russia's Novatek ships first LNG cargo to China via Arctic; Yamal LNG ships first LNG cargo to Spain; Qatar ships first LNG to Japan, signs accord; Japan orders its first LNG bunker vessel…

Image: Diana Shipping Inc

Diana Shipping Win TC for m/v Myrsini with Glencore

Diana Shipping  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 Myrsini.The global shipping company specializing in the ownership of dry bulk vessels, today announced that the gross charter rate is US$12,750 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum twelve (12) months.The charter commenced on December 22, 2018.