Ship Management News

Belships Sells Bulker to Marti Shipping

Belships ASA, a bulk carrier operator and ship management company, has confirmed that it  entered into an agreement with Marti Shipping & Ship Management of Turkey for a bareboat charter and subsequent sale of BELEAST.The 50 000 dwt bulk carrier was built in 2006 and was the oldest ship in Belships fleet. BELEAST was delivered in December as planned and Belships realized a gain of USD 4.4m.The Charterer has an obligation to purchase the vessel within 24 months and the net cash flow during the period will be approximately USD 3.5m after repayment of outstanding loans.In October…

Wilhelmsen Delivers 3D Printed Parts to Berge Bulk

Norway-based global maritime industry group Wilh. Wilhelmsen Holding ASA  announced that Berge Mafadi, a Berge Bulk vessel has received the world’s first commercial delivery of 3d printed scupper plugs, as part of Wilhelmsen’s Early Adopter Program.According to a press release, the program, where customers have exclusive access to on-demand additive manufacturing was launched by Wilhelmsen’s Marine Products division in December 2019. Customers include Berge Bulk, Carnival Maritime…

US Lifts Sanctions on COSCO's Dalian Unit

The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington.President Donald Trump's administration on Sept. 25 blacklisted two units of COSCO, named after the northeastern Chinese port of Dalian. The move sent worldwide freight costs to record highs and disrupted the global shipping market.The U.S.

Tallink to Repair Silja Europa at Turku Yard

Estonian shipping company Tallink Grupp said that its vessel Silja Europa has set sail to Turku Repair Yard in Naantali, Finland for scheduled maintenance and planned renewal works that would make the ship more environmentally friendly.The 1993-built vessel will stay in Turku Repair Yard for two weeks, returning to the Tallinn-Helsinki route on February 9, said a press note from the provider of mini-cruise and passenger transport services in the northern Baltic Sea region.During the scheduled docking, the vessel will undergo considerable renovation of several key passenger areas.

New LNG Bunkering & Fuel Supply System Simulator

Wärtsilä has launched a new LNG Bunkering & Supply System simulator. The simulator will promote greater safety on board liquefied natural gas (LNG) fueled vessels by improving the level of training for operators of LNG systems. The design is based on the Wärtsilä LNGPac and Gas Valve Unit (GVU) technologies, and includes all auxiliary systems used in connection with the fuel supply. The design is also in accordance with the STCW requirements for training seafarers onboard gas…

Signal, Heidmar Join Forces on Tanker Fleet

Greek commercial ship management company Signal Maritime Services and tanker vessel trader Heidmar join forces to deliver commercial management to the global tanker market.Both companies have agreed a milestone partnership, under which Signal will manage a joint tanker fleet using its proprietary technology and analytical approach, said a press release.Signal’s Artificial-Intelligence-backed solution to pool management has consistently delivered superior earnings to its pool members…

IMO2020: 4 Tips to Using Methanol as Fuel

Lessons learned on designing, building & operating with methanol as fuel.Generally averse to technological risk, maritime professionals lean on lessons learned, when available, to make future decisions. According to Fredrik Stübner, Director Ship Management, Marinvest, his organization’s experience running ships on methanol can be instructive for others considering emission reductions technologies, and to this end he suggests:1. VESSEL DESIGN“For other shipowners considering methanol as fuel…

IMO2020: Methanol Proves Promising

When the clock strikes midnight on December 31, 2019, the maritime world enters a bold new era of emission reduction. With its growing fleet of methanol fueled ship and more than 60,000 hours of operating experience under its belt, Waterfront Shipping Company has a five-year headstart.As a general rule, shipowners are remiss to share insights on their operations, lest their competitors catch wind and leverage the same technology and savings. The case of Waterfront Shipping Company Ltd.

E-money Platform MarCoPay Accredited by Bank

On December 10, MarCoPay Inc. has obtained a certificate of registration from Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, allowing the company to operate as an electronic money issuer.In July 2019, NYK and Philippine-owned business group Transnational Diversified Group (TDG) announced the development of the new fintech platform MarCoPay. Now certified by BSP, it is well on its way to meet its target launch date for NYK operated vessels in early 2020.

BIMCO's Sanctions Clauses to Meet Challenges

BIMCO’s Documentary Committee has approved two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly complex environment of economic and trade sanctions imposed by governments.Sanctions have become a widely used geopolitical tool by governments. The rules are complex, imprecisely drafted, often changing, and the risks of violation can be high. The necessity of sanctions clauses that provide contractual certainty has prompted BIMCO to revise…

Chinese Tanker Spurns Malaysian Inspections

An oil tanker, which shipping data showed was managed by a Chinese company under U.S. sanctions, refused to allow an inspection by maritime authorities while anchored in Malaysian waters, Malaysia's maritime agency said.Silvana III's commercial manager is Kunlun Shipping Co Ltd, according to shipping transparency website Equasis.org.Kunlun is one of several firms placed under U.S. sanctions this year for alleged involvement in transporting oil from Iran.The Malaysian Maritime Enforcement Agency (MMEA) said the Silvana III, which anchored off Kuala Kurau on Malaysia's west coast on Dec.

Bahri Looks to Make LNG Foray

Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday.No further details were immediately available and Saudi Aramco declined to comment. EOIs are preliminary enquiries that may or may not turn into full-fledged orders.According to Bahri's website, the national shipping carrier of Saudi Arabia has six business units dealing in oil…

Adams Appointed as Managing Director of V.Ships

V.Group has appointed John Adams as managing director of V.Ships UK Ltd. Adams brings a wealth of experience from 30 years at Teekay Shipping, most recently holding the position of Managing Director, Glasgow and Chair of the Operational Leadership Team.In his time at Teekay, Adams played a key leadership role during Teekay’s growth, integrating acquisitions into the expanding fleet operations. He is also Chairman of Bahamas Shipowners’ Association and Vice Chair at the International Chamber of Shipping…

Wilhelmsen Launches 3D Printed Spares EAP

Wilhelmsen has launched an early adopter program for 3D printed marine spare parts. A strategic move by the six early adopters, Carnival Maritime, Thome Ship Management, OSM Maritime Group, Berge Bulk, Executive Ship Management and Wilhelmsen Ship Management have all signed up with Wilhelmsen’s Marine Products division to begin utilizing on-demand additive manufacturing.Wilhelmsen, in cooperation with Ivaldi Group, will provide spare parts on demand to the selected six customers’ vessels around the globe.

Flex LNG Swings to Profit, Adds to Fleet

Norwegian LNG carrier owner Flex LNG posted a net income of USD 0.5 million for the third quarter of this year, compared to a net loss of $3.9 million for the second quarter 2019.It  reported revenues of $29.8 million for the third quarter 2019, compared to $19.0 million for the second quarter 2019.Øystein M Kalleklev, CEO of Flex LNG Management AS, said: “In line with our expectations, the freight market has become increasingly tighter in the second half of 2019 resulting in much more favorable market conditions despite low gas prices.

Van Oord Orders Royal IHC Dredge System

Royal IHC, the provider of design and construction for the specialist maritime sector, has been awarded another contract by Van Oord to design and supply the dredge installation for its new 10,500m3 trailing suction hopper dredger (TSHD).The suction pipe installation with underwater pump, two dredge pumps and three jet water pumps will be installed on the new TSHD and built in Singapore.Earlier this year, IHC was commissioned to deliver similar systems for two other Van Oord TSHDs.“We were delighted to receive this repeat order from Van Oord…

CPO Tankers Becomes ZEABORN Tankers

Claus-Peter Offen Tankschiffreederei (GmbH & Co.) KG (“CPO Tankers”) has now been renamed ZEABORN Ship Management Tanker GmbH & Cie. KG (“ZEABORN Tankers”). The company is part of Bremen-based ZEABORN Group since June 2019 and has started trading under its new name with effect from November 4,2019.Since August 2018, ZEABORN Group has bundled its ship management activities for dry cargo vessels – container, bulk and multipurpose – under the brand ZEABORN Ship Management. ZEABORN Tankers will operate as a legally independent company under the brand name ZEABORN Ship Management as well…

Saab Supplies PMIS to Port of Pascagoula

Swedish manufacturer Saab has successfully put its PortControl Port Management Information System (PMIS) upgrade into operation at the Port of Pascagoula, on-time and within budget.According to a press release from the  defense and security company, delivery includes software for management of visits, cargo and billing, as well as an accounts receivable module. The system interfaces with the port’s accounting software.The Port of Pascagoula is the largest full-service seaport in Mississippi with deep water access.

SSSY, Signal Ocean in Strategic Partnership

International shipbroker Simpson Spence Young and Signal Ocean Ltd have announced that they have entered into a strategic partnership as investors to work together to bring high-impact technology solutions to the commercial ship management of dry bulk carriers.Simpson Spence Young (SSY) is one of the world's largest independent and privately owned shipbroker, with 20 offices worldwide and over 400 people serving all the major shipping and commodity locations around the globe.Signal…

PTS to Manage Lake House Boxship Pair

Lake House, a Hong Kong and London based investment company, has appointed PT-Shipmanagement (PTS), a Hamburg based company, to manage two container ships.The two ships have a capacity of 1,300 TEU each and sail with an average crew of 15. The reason for the change to PTS was the high level of digitalisation and improved transparency on actual costs incurred.Lake House expects the ships to operate at significantly lower costs and improved yields, said a press release from the…

Gulf Navigation Records 19% Revenue Growth

Gulf Navigation Holding, the Dubai Financial Market listed maritime and shipping company, has announced a 19 per cent operating revenue growth by the end of Q3 of 2019, compared to the same period last year.The Dubai-based shipping company recorded an operating revenue of AED 130 million compared to AED109 million in the same period of 2018. The company reported a net loss of AED 18 million in Q3 of 2019, bringing total losses in the first 9 months of 2019 to AED 46 million."The…

Optimarin Inks 30 BWTS Deal with Asiatic Lloyd

Optimarin, the ballast water treatment (BWT) specialist, has reported a year-on-year increase in sales of more than 100% for Q3, with order intake at an all-time high. The growth, consolidating the trend seen in Q2, comes on the back of a number of new fleet agreements with leading owners and operators, of which Singapore’s Asiatic Lloyd Shipmanagement LLP is the latest signing. “September’s IMO D2 deadline for BWT compliance has created, quite rightly, a sense of urgency in the market…

Inmarsat Publishes ICT Field Guide

As day-to-day operations at sea become ever more reliant on information and communication technology (ICT), mobile satellite communications company Inmarsat has published a practical guide to help ship managers build onboard networks that are resilient and reliable.The Best Practice Information and Communications Technology (ICT) Recommendations, published by the Inmarsat Research Program, offers guidance on maximizing uptime and minimising cyber-vulnerabilities of onboard networks and automated systems.

Nakilat Posts 10.5% Surge in 9 Month's Net Profit

Qatari shipping and maritime company Qatar Gas Transport Company (Nakilat) reported a 10.5% year-on-year increase in net profit to QR728mn (USD 200 million) in the first nine months of this year.Nakilat, which has the largest LNG shipping fleet in the world, comprising 69 vessels, said in a press note that its positive financial performance can be primarily attributed to better operational performance in managing its liquefied natural gas (LNG) and liquefied petroleum gas (LPG)…

VDL AEC Maritime Appoints Krabiell as Rep

VDL AEC Maritime as scrubber supplier has strengthened its position on the German market by entering a partnership agreement with Krabiell. With the nomination of Thomas Krabiell as the official representative of VDL AEC Maritime in Germany, it can be ensured that customers like ship-owners and ship-management companies have direct contact to the organization in order to fulfill all demands. References of more than 100 EGCS on board various types of vessels is proving the simplicity and quality of VDL AEC Maritime’s scrubber system.

MOL Tabletop Drill on Containership Safety

Japanese shipping giant Mitsui O.S.K. Lines (MOL) announced that it conducted a tabletop drill based on an incident simulation involving an MOL-owned containership.MOL holds these drills periodically to confirm its emergency response system in preparation for serious marine incidents, said a press release.The drill was held on Thursday, October 10, with the goal of raising company-wide safety awareness through the simulation of a serious marine incident. The drill was designed…