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MARINE LEASING

Martek Offers ECDIS Leasing Package

Martek Marine’s leasing package offers an option to adopt ECDIS early, which they said can help shipowners benefit from increased safety and lower costs. ECDIS product specialist Bentley Strafford-Stephenson said, “DNV research has shown that deploying ECDIS may reduce grounding frequency by at least 30%. Grounding is the third most frequent accident involving ships larger than 100GT and the fourth highest contributor to marine fatalities at 12%. Offering a leasing option is crucial to give shipowners the opportunity to increase safety and limit risk immediately. Early adopters also benefit from crew having longer to become accustomed to using ECDIS, allowing them to become competent and confident without the pressure of IMO’s deadline.” Martek believes early ECDIS adoption also offers savings in time and cost over paper charts, eliminating the logistical challenge of having paper charts delivered to ships and the time required to manually update them. Furthermore, route planning using current weather and tidal data can cut transit times and save fuel. They said, shipowners who lease, rather than buy, benefit from their ships always having the most advanced ECDIS systems as the difference between a two and five year old system can be significant due to technological developments.


How Specialty Lenders Can Propel Marine Operators

Eric Dusch

The surge in the shale gas industry in the U.S., as well as stepped up oil exploration in the Gulf of Mexico, is creating enormous demand for marine assets to transport fuels and supplies. To seize this growth opportunity, mid-size marine operating companies with annual revenues from $10 million to $1 billion must address several important issues. First, what is the most efficient way to finance equipment to keep up with the robust demand? Is ownership of the vessel through a loan structure


Radix Marine to Acquire Patrol Craft Prototype

Radix Marine, Inc, a marine vessel development company specializing in homeland defense initiatives, announced today that it has entered into an agreement to acquire, through an Equipment Lease and Purchase Agreement, the GB Challenger Class Craft, the working prototype of the company's high-speed unmanned patrol watercraft. Radix Marine will own the GB Challenger outright at the conclusion of the five-year lease with Blue Ribbon Leasing and Financial, Inc


BOEM Seeks Comment on Proposed Energy Research

boem.png

As part of the Obama Administration's Climate Action Plan to create American jobs, develop domestic clean energy sources and cut carbon pollution, the Bureau of Ocean Energy Management (BOEM) announced today that it is seeking public comment as it prepares an Environmental Assessment (EA) to analyze potential impacts from proposed wind energy research activities offshore Virginia.   The Virginia Department of Mines


DOI Issues FSEIS for Chukchi Sea Lease Sale

The U.S. Department of the Interior (DOI) released a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193, moving the DOI a step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska. The FSEIS updates the Bureau of Ocean Energy Management’s (BOEM) estimates of the full range of production levels from offshore oil fields that might be developed in the Chukchi Sea as well as the related potential environmental


Alphatron Marine VSAT Systems for 11 Workboats

Photo courtesy of Alphatron Marine

Alphatron Marine has signed a lease contract with Seacontractors for no less than 11 vessels to provide satellite hardware and data solution packages.   Alphatron Marine’s VSAT system will be installed alongside the existing IT infrastructure on nine Seacontractors B-Class workboats and two A-Class workboats, consisting of Anchor Handling Tug Supply (AHTS) and Multicats, mainly operating in Western Europe and the Middle East.  


Naval shipbuilding gets booster shot in legislative chambers

The Conferees on the Defense Authorization Bill, S.1059, for fiscal year 2000 wrapped up their conference after providing "Extended Lease" authority of 20 years or more to the Secretary of the Navy for the services of non-combatant ships, and rejecting an attempt by Senator John McCain (R-AZ) to repeal the three-year waiting period before foreign-built ships are eligible to carry preference cargo. The House Armed Services Committee has been working for three years to provide the Secretary of


Coast Guard Publishes Supplemental NPRM

In the August 9, 2002, Federal Register, the Coast Guard publishes a Supplemental Notice of Proposed Rulemaking to solicit further comment on its previous NPRM entitled, "Vessel Documentation: Lease-Financing for Vessels Engaged in the Coastwise Trade." The regulations implement a 1996 federal law codified at 46 U.S.C. 12106(e), which was designed to enlarge vessel financing sources by allowing lease financing to be offered by companies which are less than 75% U.S.-owned


Canadian Ports: Minister Emphasizes Key Role

Honourable Lisa Raitt: Photo Transport Canada

Transport Canada informs that the Honourable Lisa Raitt, Minister of Transport, has spoken of the important role Canada's marine ports play in supporting trade and economic growth in a speech to the 56th annual conference of the Association of Canadian Port Authorities, hosted by the Belledune Port Authority. Building on this year's conference theme of 'Anchors Away', Minister Raitt highlighted the opportunities and challenges in global shipping for Canada's ports


China Gets Port of Darwin

Photo: Northern Territory Government

 The Northern Territory (NT) Government in Australia announced the successful bidder for the Port of Darwin – Landbridge Group, based in the People’s Republic of China.    Chinese privately owned energy and infrastructure conglomerate Landbridge Group has won a $A506 million bid to run Australia's Port of Darwin for 99 years, NT's Chief Minister Adam Giles announced.   Under the terms of the agreement


Seaspan CEO: Hanjin Fallout Is Like Lehman for Shipping

Photo: Hanjin Shipping Co

 Seaspan Corp  chairman and ceo Gerry Wang has described the bankruptcy of South Korea’s biggest container line Hanjin Shipping Co as the industry’s equivalent of the Lehman Brothers collapse that triggered the global financial crisis, reports Bloomberg.  


Virginia Port handles Record Volume

Chart showing record volume handled at Port of Virginia

The Port of Virginia rewrote its record books once again, having handled 235,511 TEUs (twenty-foot equivalent units) in August, making it the single busiest month in the port’s history. In comparison with last August, TEU volumes are up 7 percent; rail units up 20 percent and truck volume


Port of Va. Signs Long Lease for International Gateway

Lease Clears the Way for Port to Double the Terminal’s Annual Lift Capacity Photo Port of Virginia

Governor Terry R. McAuliffe on Wednesday announced that The Port of Virginia has signed a new, long-term lease for Virginia International Gateway (VIG) that clears the way for the port to begin work on doubling capacity at the deep-water container terminal.


S.Korea: Hanjin Cash, Parent Support Should Cover Offloading Fees

A Hanjin Boxship underway (File image: Hanjin)

Cash from top shareholder, executives should cover offload costs. South Korea's government said cash held by Hanjin Shipping Co Ltd and funds pledged by its parent group should meet the costs of unloading some $14 billion in cargo stranded on vessels operated by the troubled container line.


Specialists Team Up for International BWTS Refit

Solent Refit – aerial shot of Solent Refit at Hythe (Photo: Solent Refit)

U.K.-based Solent Refit and global marine equipment specialists Cathelco have teamed up to help international customers meet new ballast water management regulations.   Solent Refit, at Hythe, on Southampton Water, has built its reputation on maintaining and refitting classic and modern


GSL Extends CMA CGM Charters

Marie Delmas. Photo: Marine Marchande

 Global Ship Lease (GSL) has extended the charters of the Marie Delmas and Kumasi, two 2,207-TEU vessels, for up to 3.25 years.   Under the agreement, a revised rate of $13,000 per day will apply from August 1, 2016 until the charters' previous earliest expiry dates in September 2017


Lease Sale Proposed for Wind Energy Off North Carolina

A new lease sale has been proposed for 122,405 acres for commercial wind energy leasing offshore North Carolina.     The proposed lease, announced today by U.S. Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper as part of


Navig8 Acquires Second Tanker from SPP

Courtesy Navig8

Navig8 Product Tankers Inc. today announced that it has taken delivery of the Navig8 Providence, a 74,000 DWT LR1 tanker from SPP Shipbuilding Co., Ltd. (“SPP”). The Navig8 Providence is the second of four vessels contracted at SPP to be delivered to the Company and is the second


Portland Auto Exports Drive ConnectOregon Grant

 The Oregon Department of Transportation has awarded a ConnectOregon grant of $2.6 million to the Port of Portland along with tenant Auto Warehousing Co. to fund part of a $7 million expansion of auto handling facilities in the Rivergate Industrial District near Terminal 6


MISC Enters Thai Offshore O&G Market

Pairoj Kaweeyanun, President of Chevron Offshore Thailand, Ltd., and Tuan Syed Hashim Syed Abdullah, Vice President Offshore Business of MISC Berhad, after the signing of agreement between Chevron Offshore (Thailand) Ltd. and MISC Offshore Floating Terminals (L) Limited. (Photo: MISC Berhad)

    Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.   MISC’s wholly-owned subsidiary, MISC Offshore Floating Terminals (L) Limited (MOFT) signed a contract for


US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper


MN100: McDonough Marine Service

(Photo: McDonough Marine Service)

The Company: Bernard P. McDonough created the company in 1945 by leasing barges from his construction company into the marketplace. Through a series of new and used barge additions, McDonough forged his company, expanding from the Ohio River to the Gulf of Mexico and eventually to the East Coast


Growth in the Leased Container Equipment Fleet to Slow

Source: Drewry Maritime Research

 Following markedly slow growth of just 3.5% in 2015 due to decreased rental demand, the global leased container equipment operating fleet is forecast to increase by little more than 1% in 2016, according to the latest edition of the Container Leasing Industry Annual Report 2016


FPSO Turritella Producing, On Hire

Turritella (Photo: SBM Offshore)

SBM Offshore stated that FPSO Turritella is formally on hire as of September 2, 2016 after achieving Commencement of Commercial Production (CoCP).  The CoCP certificate was issued on September 8, 2016.   The vessel is installed in Shell's Stones development located in 2,896 meters (9


Plan Introduced to Drive US Offshore Wind Energy

Photo: U.S. Dept. of Energy

A new collaborative strategic plan has been published today which aims to continue accelerating the development of offshore wind energy in the United States.   Announced by U.S. Secretary of Energy Ernest Moniz and U.S. Secretary of the Interior Sally Jewell, the plan






 
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