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Thursday, October 29, 2020

Transportation Services News

“The mis-declaration of hazardous materials is an area where we work in cooperation with Customs and Border Protection and the U.S. Coast Guard. The FMC’s Shipping Act concern is the market fraud when a shipper declares to a common carrier in its shipping documents that the tendered cargo is some innocuous variety, when the cargo is properly categorized as hazardous; thereby receiving a lower freight rate.”
– Michael A. Khouri, Chairman, Federal Maritime Commission (FMC)

© Pawinee/AdobeStock

FMC: Ocean Shipping Challenges Abound

Since early Spring 2020, American consumers have received a practical education in supply chain operations. One lesson is that it takes more than simply going online and clicking a “Buy Now” button for goods to show-up on our front porches. While the networks and systems that deliver commodities from around the globe might have been stretched as a result of COVID-19 related impacts, the men and women who move the freight have worked selflessly and tirelessly to meet consumer and manufacturing demand.Early on in the response to COVID-19…

Bleu Hilburn (Photo: Crowley)

Hilburn Rejoins Crowley Solutions as VP, Business Development

Logistics executive Bleu Hilburn is returning to Crowley Solutions as vice president of business development for all government services. In this role, Hilburn will develop strategies to build a customer pipeline, qualify opportunities and manage all aspects of marketing, bid and capture management to drive growth and build deep relationships with government customers for Solutions.Hilburn, a 2015 Thomas Crowley Award winner, the company’s highest honor for employees, will start Aug.

(Photo: Port of Vancouver USA)

Port of Vancouver USA Receives Record Shipment of Wind Turbine Parts

The Port of Vancouver USA received a shipment of wind turbine components on July 22 that included the longest wind turbine blades ever to enter the West Coast of the U.S. and transported across North America, to-date. The port received a total of nine wind turbines including blades, nacelles, generators, hubs, tower sections and other sub-components. Eight of Goldwind’s GW155/4.2 MW turbines arrived on the MV Star Kilimanjaro. There are four complete turbines featuring Goldwind’s 76-meter blades and four additional turbines of the same model with blades arriving on later shipments.

Image: GoodBulk

GoodBulk President Andrew Garcia Resigns

Monaco-based international owner and operator of dry bulk vessels GoodBulk has announced that Andrew Garcia has resigned from his position of president and director.The provider of marine transportation services said in a press release that its board has approved Brentwood Shipping and Trading’s appointment of Carlos Pena, Chief Commercial Officer of C Transport Maritime S.A.M. (CTM), as incoming Director.Pena has over 16 years’ experience in shipping across various areas and within CTM…

Image: Seanergy Maritime Holdings

Seanergy Maritime Gets Refinancing

The Greek provider of marine dry bulk shipping services Seanergy Maritime Holdings Corporation announced that it received approval, in form of commitment letters, from one of its existing lenders to extend the maturity of two loan facilities.According to the Nasdaq listed pure-play capesize ship-owner said that the loan facilities are secured by the M/V Leadership and M/V Squireship and their respective maturities are extended from March 17, 2020 and November 10, 2021 to December 31…

Image: Grindrod Shipping Holdings Ltd

Grindrod Shipping Acquires IVS Bulk Stake

The global provider of maritime transportation services in the drybulk and product tanker sectors Grindrod Shipping Holdings announced acquisition of an additional 33.25% stake in its IVS Bulk joint venture and the sale of the 2010-built small product tanker Kowie.A subsidiary of the company, Grindrod Shipping Pte. Ltd (GSPL) has agreed to acquire the 33.25% ordinary and preferred equity shares held by one of its two JV partners in IVS Bulk for a total consideration of $44.1 million, thereby increasing its stake to 66.75%.

Image: Safe Bulkers

Safe Bulkers Sells, Leasebacks 8 Vessels

The Monaco-headquartered provider of marine drybulk transportation services Safe Bulkers Safe Bulkers has sold and leased back eight ships to refinance $105.2m in loans coming due in 2023 and 2025.The New York-listed bulker owner said that it will receive $158.3m in proceeds from the transaction.Under the arrangements, two vessels were leased back, under bareboat charter agreements, for a period of six years and six vessels were leased back under bareboat charter agreements, for…

Image: Safe Bulkers

Safe Bulkers Signs Pact with Alfa Laval

The international provider of marine drybulk transportation services Safe Bulkers has entered into a service agreement  with Alfa Laval for 20 scrubber units on its vessels to meet the requirements of IMO 2020.According to the shipowner, the agreement is to minimize down time, enhance regulatory compliance and safeguard scrubber performance over the life-time of the vessel.The agreement provides for a flat yearly fee, lifecycle-oriented services from the Alfa Laval PureSOx 360° Service Portfolio…

Image: Grindrod Shipping

Grindrod Eyes Stake in IVS Bulk JV

Singapore-headquartered provider of maritime transportation services in the drybulk and product tanker sectors, Grindrod Shipping Holdings is planning acquisition of an additional 33.25% stake in its IVS Bulk joint venture."Grindrod Shipping is progressing negotiations to acquire all of the 33.25% ordinary and preference shares in IVS Bulk held by one of its two JV partners for approximately $44.2 million, thereby increasing our stake in the JV to 66.75%," said a press release from the provider of dry-bulk and liquid shipping services.

Image: Overseas Shipholding Group

OSG Acquires Alaska Tanker

Overseas Shipholding Group, the tanker company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets, has entered into agreements with BP Oil Shipping Company USA and BP AMI Leasing to purchase the crude oil carrier vessels operated by Alaska Tanker Company (ATC).OSG currently owns a 37.5% interest in ATC. As part of the above transaction, OSG will acquire the remaining 62.5% interest of ATC that it does not own.According to the publicly traded tanker company…

Pic: TEN

TEN Orders LNG Carrier at HHI

Greece-based crude, product and LNG tanker operator Tsakos Energy Navigation (TEN) ordered has one-option-one 174,000cbm LNG carrier from Hyundai Heavy Industries (HHI) in South Korea with expected delivery, the first, in the second half of 2021 and the second, in the first half of 2022.The provider of international seaborne crude oil and petroleum product transportation services said that with this order, if the option is exercised, its LNG proforma fleet increases to four vessels…

Image: Performance Shipping

Performance Shipping Adds Aframax Tanker

The global provider of shipping transportation services through its ownership of vessels, Performance Shipping has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/t Briolette (formerly Maersk Jamnagar).The containerships and tanker vessels said in a press releases that it had entered into an agreement to purchase the 2011-built Aframax tanker vessel of 104,588 dwt in June 2019. Including the newly delivered m/t Briolette, Performance…

Image: Performance Shipping

Performance Shipping Buys a Tanker

Greece-based global provider of shipping transportation services through its ownership of vessels has agreed to acquire a 2007-built aframax tanker for US$26.0 million.The company specializing in the ownership of containerships and tanker vessels said that it will acquire the entity from its Chairman and Chief Executive Officer, Symeon Palios, for an aggregate purchase price of US$11.0 million, which will be paid in common shares of the company at a per share price of US$0.9027.

Pic: Arista Shipping

Arista Starts Smart Shipping Journey with ABS

Greece-based shipping company Arista Shipping has signed an ocean data agreement with the global provider of classification and technical advisory services ABS to drive smart shipping operations.The global provider of shipping transportation services and specializes in managing the worldwide transportation of dry bulk cargoes will processed data from the ABS Metocean Hindcast Data application to guide operational decision making for its fleet and managed vessels.Advanced ABS data processing is applied to over a decade of Metocean Hindcast model data from the U.S.

Pic: Diana Shipping Inc

Diana Shipping Fixes Medusa 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 Kamsarmax dry bulk vessels, the m/v Medusa.The gross charter rate is US$11,000 per day, minus a 4.75% commission paid to third parties, for a period of about 11 months to maximum 13 months, said the global shipping company specializing in the ownership of dry bulk vessels.The new charter period is expected to commence on November 15…

 Image courtesy: PACC Offshore Services Holdings

Kuok Makes Cash Offer for POSH

The Kuok Group, through its investment vehicle Quetzal Capital, announced a voluntary conditional cash offer to buy out Singapore-listed PACC Offshore Services Holdings Ltd (POSH).Quetzal Capital said that the conditional offer to acquire all of POSH for S$0.215 a share, marking a 97.2 percent premium over the stock’s closing price on 30 October.The offer price represents a premium of approximately 109.8%, 96.2%, 69.6% and 35.3% over the one-month, three-month, six-month and twelve-month volume-weighted average prices respectively…

File Pic: Performance Shipping

Nasdaq: Performance Shipping Out of Compliance

Greek boxship owner Performance Shipping disclosed that it has received a noncompliance notification from the Nasdaq Stock Market.The notice was received from the regulator because the company's  closing share price was below $1.00 per share for 30 consecutive days, said the global provider of shipping transportation services through its ownership of vessels.Performance Shipping  intends to monitor the closing bid price of its common stock during a grace period and will consider its options…

Pic: Teekay Group

Teekay Resolves China LNG JV Issues

Teekay LNG’s 50/50 joint venture with China LNG, which owns four on-the-water ARC7 LNG carriers and two ARC7 LNG carrier newbuildings, is also no longer classified as a “blocked person” under Office of Foreign Assets Control (OFAC) rules.According to a press release from the owners and operators of LNG carriers, providing LNG and LPG marine transportation services firm, Teekay Corporation and Teekay LNG Partners announced that COSCO Shipping Energy Transportation, a COSCO group firm…

Image: Qatar Petroleum

Korean Shippers Jointly Pitch for Qatari LNG Newbuilds

Five South Korean shipping companies - Korea Line, Pan Ocean, SK Shipping, Hyundai LNG Shipping and H-Line Shipping -  could partner up to secure liquefied natural gas transportation services for Qatar’s LNG production capacity expansion project.Qatar Petroleum is expected to put up shipping contracts for at least 40 LNG carriers by the end of the year for its North Field Expansion project, which aims to increase the nation’s LNG production capacity from 77 million tons to 110 million tons per annum starting in 2024.According to Yonhap, the Qatari state-run company will need an additional 60 L

Pic: Canadian National Railway

Evergreen, CN Extend Intermodal Pact

Canadian National Railway (CN) and Taiwanese container transportation and shipping company Evergreen Line announced that their long-standing relationship of 27 years will continue with a new agreement extending their intermodal partnership.Evergreen and CN have long enjoyed a mutually beneficial partnership, with Evergreen calling at CN served ports such as Vancouver, Prince Rupert, and Halifax. This new agreement furthers the privileged relationship between both companies.“We are pleased to be renewing our partnership with CN…

Pic: Kuehne + Nagel

K+N to be CO2 Neutral for Shipments

Switzerland-based global transport and logistics company Kuehne + Nagel International AG has launched a Net Zero Carbon program that will aim to reduce the environmental impact of supply chains.In addition to the continuous reduction of its own CO2 emissions, the company now offers its customers solutions for reducing the CO2 footprint of their supply chain. With the use of big data and new digital platforms, the selection of transport routes and modes can be optimized from a…

Pic: Algoma Central Corporation

Algoma Acquires Croatian-Built Vessel

Canadaian provider of marine transportation services Algoma Central Corporation has reached an agreement with 3Maj Brodogradiliste of Croatia under which Algoma will acquire a new Equinox Class 650’ self-unloading dry-bulk carrier upon completion of the vessel by the Shipyard.The vessel, the second of two such ships that were to be built by 3Maj for the Company, is partially built and moored at the 3Maj shipyard in Rijeka. Work on the vessel was halted in 2017 when the Shipyard entered an extended period of financial difficulties.Algoma took delivery of the Algoma Innovator…

Pic: Höegh Autoliners

Höegh Increases its Frequency to Australia

Nowegean provider of Ro/Ro (Roll On/Roll Off) deep sea transportation services Höegh Autoliners announce an increased frequency in its service to Australia. Starting in November, the company will offer five sailing per month to Australia from Europe.Previously, Höegh offered up to four regular sailing per month, and with the increased frequency, the company will strengthen its position in the region.Thomas Ramdahl, Chief of Sales said: "To accommodate the growing demand from breakbulk…

© currahee_shutter / Adobe Stock

Aurelius Backs Ardent Buyout

Alternative direct lender AURELIUS Finance Company has provided financing to support the buy-out of emergency management and offshore decommissioning company Ardent from co-owners Svitzer, a global towage operator, and Crowley Holdings, a holding company of international marine and logistics services provider Crowley Maritime Corporation.The deal will see Ardent’s senior management team acquire a shareholding in the company. The financial terms of the deal have not been disclosed…

Image: Grindrod Shipping Holdings

Grindrod Announces Finance Arrangement

Grindrod Shipping Holdings, a global provider of maritime transportation services in the dry-bulk and product tanker sectors, announced a number of transactions relating to a new financing arrangement, its fleet and share repurchases."Further to the previously-announced financing arrangements in respect of IVS Knot and IVS Kinglet, we expect to enter into a similar financing arrangement with a Japanese shipowner in respect of the 2011-built handy-size dry-bulk carrier, IVS Magpie…

Image:  SEACOR Marine

SEACOR Marine Sells North Sea Standby Biz

US-based  offshore support vessel  (OSV) provider Seacor Marine has decided to sell its North Sea emergency response and rescue vessel business to North Star in a move to cut costs and generate cash to support its core business.Under the terms agreed, North Star will pay approximately US$25.1 million, said the provider of marine and support transportation services to offshore.Based on revenue targets in 2020 and 2021, SEACOR Marine could receive an additional consideration of up to US$5.2. The sale will close in December.