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Wednesday, July 24, 2019

Seaspan News

Video: CMA CGM Box Ship Smashes Into Dock

A CMA CGM containership plowed head-on into a pier at India's largest container port on Saturday, causing visible damage to the dock.The 336-meter, 10,000 TEU CMA CGM Mumbai reportedly lost steering while attempting to berth at the Jawaharlal Nehru Port,on the west coast of India. Officials said damage to the pier is only minor, and the damage to the ship is unkonwn. No injuries were reported.The Hong-Kong flagged vessel, owned by CMA CGM and operated by Seaspan, was delivered in May this year from Chinese yard Yangzijiang Shipbuilding.

Bill Dobie, Founder and CEO of SEDNA

SEDNA’s Powerful Teamwork and Transaction Tool

In shipping, the team with the best documentation always wins. Today, for many stakeholders, that increasingly means employing SEDNA’s E-mail software platform for myriad projects.Bill Dobie is Founder and CEO of SEDNA with over 20 years of experience in bringing technology and people together while creating opportunity for innovation and growth. His newest product, specifically designed for the shipping industries, is a cloud-based communication and transaction management platform…

Photo: SEDNA

NORDEN Adopts SEDNA

Danish dry cargo and product tanker operator NORDEN has announced the selection of SEDNA as a new platform for transaction management and team collaboration. NORDEN will use SEDNA across its business, replacing email as the default mode of communication for teams, and forming a key part the company’s business strategy of ‘Focus & Simplicity’.With an owned and chartered fleet of over 300 dry cargo and tanker vessels, NORDEN is the latest in a line of businesses in the shipping…

Mark Lamarre has been named CEO of Seaspan Shipyards. (Photo: Seaspan Shipyards)

Lamarre Named CEO at Seaspan Shipyards

Mark Lamarre, who most recently served as CEO of Australian Shipbuilding Company (ASC), has been named CEO of Seaspan Shipyards effective immediately. Lamarre succeeds Brian Carter, who stepped down to pursue other opportunities.Lamarre’s appointment follows recent Seaspan Shipyards additions to the senior leadership team, including Jari Anttila (previously with Philly Shipyard Inc. and Meyer Turku in Finland) as COO and Christof Brass (previously with Airbus Group SAS) as CFO.Lamarre is an experienced shipbuilding executive with more 30 years of experience in operations…

Seaspan Shipyards Names Anttila COO

Seaspan Shipyards (Seaspan) appointed Jari Anttila as Chief Operating Officer (COO), who has more than 25 years of experience in shipbuilding and industrial operations. Previously with Philly Shipyard Inc. where he served as Senior Vice President, Anttila has considerable experience in successfully leading organizations through large shipbuilding projects. Prior to joining Philly Shipyards Inc., he held positions as Executive Vice President, Chief Operating Officer and Senior Vice President with Meyer Turku and its predecessors in Finland. Mr.

Photo: Sailors’ Society

Sailors’ Society Launches Wellness at Sea E-Learning

International maritime welfare charity, Sailors’ Society, has launched an online version of its widely respected Wellness at Sea coaching program.The e-learning platform opens up the globally renowned course, which until now was only available in a classroom setting, to thousands more seafarers for just $3 per user.Sandra Welch, deputy CEO of Sailors’ Society, said, “Seafarers are the lifeblood of world trade and our latest Wellness at Sea conference highlighted yet again how important it is that the human element be valued…

Photo: Seaspan Corporation

Fairfax Financial Invests Additional USD 500mln in Seaspan

Containership owner operator Seaspan Corporation has announced that Fairfax Financial Holdings Limited, through certain subsidiaries, has entered into a definitive agreement to invest an additional $500 million of equity in Seaspan through the exercise of two tranches of warrants, increasing Fairfax’s total investment in Seaspan to $1 billion. "Building on our acquisition of Greater China Intermodal Investments and existing partnership with Prem Watsa and Fairfax, the cumulative investment of $1 billion from Fairfax will also significantly strengthen Seaspan’s balance sheet…

(Photo: Eric Haun)

Seaspan Recognized for Environmental Stewardship

Seaspan was recognized as a recipient of the Blue Circle Award at an Awards Ceremony in Vancouver last night, presented by the Vancouver Fraser Port Authority (VFPA). The Blue Circle Award recognizes marine carriers that excel in environmental stewardship and attain the highest participation rates in the Vancouver Port Authority’s EcoAction Program.“We’re very proud to be recognized by the VFPA for our efforts. As a leader in the marine industry, we firmly stand behind our commitment to care for the environment…

10,000 TEU Vessel Delivered to Seaspan

Seaspan Corporation said it has accepted delivery of the CMA CGM Cochin, a 10,000 TEU containership that will commence a fixed rate time charter with CMA CGM S.A. for a three year term with an option to extend for an additional three years.The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. and Jiangsu New Yangzi Shipbuilding Co., Ltd., is the second in a series of four 10,000 TEU vessels under time charter to CMA CGM that are scheduled to deliver in the first half of 2018.

Photo: Seaspan Corporation

GCI Acquisition Fetches Extra Money for Seaspan

The Hong Kong-based containership lessor Seaspan Corporation reported a net profit of $67 million for the quarter ended March 31, 2018 as revenues rose 11.7 percent to $244 million compared with the same 2017 period. The addition of operating vessels from the buyout of Greater China Intermodal Investments (GCI) led to higher revenues. The company has informed that it has completed accretive acquisition with an implied enterprise value of $1.6 billion of the remaining 89% that Seaspan did not own of GCI.

Mark Chu. Photo: Seaspan Corporation

Mark Chu Steps Down as COO of Seaspan

Seaspan Corporation, the world's largest independent containership owner operator, has announced that Mark Chu has notified the company that he plans to step down from his roles as General Counsel and Chief Operating Officer to pursue other opportunities. Chu will remain in his current roles through August 31st, 2018 to help facilitate a seamless transition. Bing Chen, President and Chief Executive Officer of Seaspan said, "I would like to thank Mark for his many contributions to Seaspan over the years.

Courson to Replace Spivak as Seaspan CFO

Ship owner Seaspan Corporation announced that Ryan Courson will take over as the company’s chief financial officer following David Spivak’s decision to leave the post in early May. Spivak will continue as CFO until May 5 and will stay on as special advisor to the president and chief executive officer through the end of June. Courson joined Seaspan in March 2018 as senior vice president of corporate development. Prior to joining Seaspan, he spent three years at Falcon Edge Capital…

Seaspan Buys GCI from Carlyle

Containership owner and operator Seaspan Corporation announced it has acquired Greater China Intermodal Investments LLC (GCI) from affiliates of The Carlyle Group and other minority owners. Seaspan, which previously held 11 percent of GCI and operated the company’s container vessel fleet, will take over GCI’s 16 on the water 10,000-14,000 TEU containerships plus two newbuilds scheduled for delivery during Q2 2018. All 18 vessels sister ships to Seaspan’s current fleet. “With GCI’s fleet now under our ownership…

An early morning view of TOTE Maritime’s North Star docked between two large boom cranes at Victoria Shipyards. Photo: Seaspan Shipyards

Seaspan Shipyards Gets Orders for LNG Vessel Engine Conversions

Seaspan Shipyards demonstrates its capabilities with liquefied natural gas (LNG) vessel engine conversions in the wake of a major project milestone. Victoria Shipyards (VSL) was selected by TOTE Maritime Alaska to carry out the yard production work and docking necessary for the conversion of their two TOTE Orca class vessels to dual-fuel systems, a process which is being carried out in four phases and will enable the two ships to use LNG as fuel. The ‘North Star’, the first of the two 839-foot-long roll-on…

Brian Carter, President and Chief Executive Officer–Seaspan Shipyards. Photo courtesy Seaspan

Seaspan Appoints Brass as CFO

Seaspan Shipyards (Seaspan) has appointed Christof Brass as Chief Financial Officer (CFO). Christof brings over 20 years of experience successfully delivering large, complex programs for multinational companies. With an extensive back-ground in strategic financial planning and analysis, Christof will help drive the continued success and improvement of Seaspan. “As a leader with experience in transforming international finance teams, Christof has all of the skills that we were looking for to lead the financial components of our business…

Seaspan Charters Newly Bought Vessels to Maersk

Seaspan Corporation said it has purchased two 2006-built 2,500 TEU containerships and entered into fixed rate time charter agreements for the vessels with Maersk Line A/S. The time charters will be for a term of four years with options for up to an additional two years at increasing charter rates. One of the vessels was delivered to Seaspan today, and the other is expected to be delivered by the end of the month. Upon delivery of the second vessel, Seaspan’s operating and managed fleet will consist of 112 containerships representing a total capacity of approximately 900…

(Credit: Conrad Shipyard)

Green Shipping: Cargo Carriers Clutch at Compliance

LNG looms as the bridge to a ‘zero emissions’ future for shipping. The advent of industry wide tightening of allowable sulfur emissions is getting nearer. Suddenly, with the deadline now just one year away, the countdown clock will very soon be ticking much louder. Simply stated, the cap on allowable sulfur content in marine fuels, presently at 3.5 percent in many geographical regions, will be reduced to 0.5 percent in January 2020. The 0.1 percent sulfur cap, already in effect since 2015 in coastal Emissions Control Areas (ECAs) in Europe and North America, will remain.

Seaspan to Raise $250m to Invest

Seaspan Corporation announced that it entered into a letter of intent (LoI) pursuant to which Fairfax Financial Holdings Limited, through certain subsidiaries, will make an investment of US$250 million in Seaspan in exchange for the issuance by Seaspan of 5.5% interest bearing unsecured debentures and Class A Common Share purchase warrants. Seaspan intends to use the proceeds from this US$250 million investment to fund future growth initiatives, debt repayment and for general corporate purposes.

Photo: Courtesy Seaspan Shipyards

Canada Launches Offshore Fisheries Science Vessel

Seaspan Shipyards (Seaspan) has celebrated the launch of the first large vessel to be designed and built under the Government of Canada's National Shipbuilding Strategy (NSS) - OFSV1, the first of three Offshore Fisheries Science Vessels (OFSV). In 2011, the Government of Canada competitively selected Seaspan to be its Non-Combat Shipbuilder as part of the NSS program. Under the NSS, Seaspan will build and deliver non-combat vessels at the company's state-of-the-art facility in North Vancouver for the Canadian Coast Guard (CCG) and Royal Canadian Navy.

Seaspan Appoints Bing Chen As Chief Executive Officer

Seaspan Corporation announced that Bing Chen will be joining the Company as its Chief Executive Officer (CEO), and appointed to the Board of Directors in January, 2018. Gerry Wang will be retiring as CEO and Director of Seaspan effective November 3. Upon Wang’s retirement, Peter Curtis, executive vice president and chief operating officer, will also serve as Seaspan’s interim chief executive officer until Chen’s arrival, after which he will continue in his current role. David Sokol…

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.

Gerry Wang. Photo: Seaspan Corporation

Seaspan CEO Gerry Wang to Retire

Seaspan Corporation announced that Gerry Wang, its Chief Executive Officer, Co-Chairman and Co-Founder, will retire from Seaspan effective December 31, 2017 to focus on family business investments and his ongoing charitable efforts. In order to facilitate an orderly transition, Wang will continue in his current role as CEO until the earlier of when a permanent CEO is identified or December 31, 2017, and will continue to serve on Seaspan's Board until the end of the year. Seaspan has commenced a search process to identify a new Chief Executive Officer.

From left to right: Steve Roth, President – Seaspan Ferries; Jerry Hong, Acting Mayor – City of Nanaimo; Frank Butzelaar, CEO – Seaspan ULC; Chris Good, Hereditary Chief – Snuneymuxw First Nation (Photo: Seaspan Ferries)

Seaspan Ferries Opens Duke Point Terminal

Seaspan Ferries Corporation (SFC) hosted an official ceremony in Nanaimo, BC to mark the grand opening of its new Duke Point Terminal. The 18 acre, multi-berth facility, which took approximately 19 months to build, consolidates operations from the previous downtown-located operation and the old facility at Duke Point. The terminal can accommodate 360 trailers as well as an overflow lot, and includes state-of-the-art hydraulic, dynamic-suspended ramps, each 35m x 10m wide. “The…

Photo: Port of New Orleans

Full Ahead: New Generation of Carrier Alliances

Full ahead: new generation of carrier alliances and slot/vessel sharing arrangements; SM’s (Bullet) Line; FWE for Hanjin. On April 1, 2017, the new generation of carrier alliances became reality. In the run up to April 1 there was a flurry of activity with ocean carriers entering into arrangements with other carriers in competing alliances and with other carriers not signatory to any of the alliances. The 2M Alliance is an existing alliance made up of Maersk Line and Mediterranean Shipping Company (MSC).

Steve Roth, President of Seaspan Ferries Corporation (SFC) (Photo: Seaspan)

Seaspan Makes Leadership Moves

Steve Roth has been promoted to President of Seaspan Ferries Corporation (SFC). In this position, Steve will continue to have the primary accountability for the overall performance of the SFC business unit, including management of day-to-day operations of SFC, as well as the short and long-term strategic planning processes, including setting and fulfilling revenue and profitability targets and maintaining relationships with all stakeholders. He is also responsible for ensuring that customer service expectations are met or exceeded while ensuring the safe operation of SFC’s vessels…

Kaity Arsoniadis-Stein (Photo: VIMC)

Advantage Vancouver: Building a Global Maritime Hub

As Canada’s largest port, Vancouver B.C has always been big on shipping. Now they have their sights set on becoming a world-class maritime center. “There’s no problem selling Vancouver,” says Kaity Arsoniadis-Stein, Executive Director of the Vancouver International Maritime Center (VIMC), the organization heading up the expansion initiative. She points out that despite the current slump in shipping, experts are pegging global growth to resume and gain momentum toward 2030. Many also predict that India and China will quadruple their freight volumes by 2050…