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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


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.  


BOEM Seeks Comment on Proposed Energy Research

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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


NOIA Supports DOI’s Mid- and South Atlantic G&G Impact Statement

Washington, D.C.– The National Ocean Industries Association (NOIA) appreciates that the Draft Programmatic Environmental Impact Statement (DPEIS) for the Mid- and South Atlantic G&G Activities announced by the Department of the Interior is an important first step toward potential energy exploration and development in the Atlantic Outer Continental Shelf (OCS).  “Since the areas have been largely unexplored for over two decades, due to executive and Congressional bans


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


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


Public Meeting in New Orleans for OIl & Gas Leasing

BOEM Will Hold Public Hearing in New Orleans on Proposed Oil and Gas Leasing Program.   The Bureau of Ocean Energy Management (BOEM) will hold a public hearing in New Orleans on Jan. 11, 2012, to provide an opportunity for the public to comment on the Draft Environmental Impact Statement (DEIS) for the Proposed Outer Continental Shelf (OCS) oil and gas lease sales offshore Texas, Louisiana, Mississippi and Alabama


Carlyle Group Acquires LMC

LMC is a 50-acre facility consisting of a boatyard, marina and marine service center

  Global alternative asset manager The Carlyle Group today announced the acquisition of Lauderdale Marine Center (LMC), the nation's largest yacht repair facility in terms of the number of large vessels it can haul and service. Equity for the transaction comes from Carlyle Realty Partners VII


Container Equipment Costs at Record Low

Source: Drewry Maritime Research

Low material costs and stable demand has driven the price of new container equipment down to record lows where it is forecast to stay, according to the latest edition of the Container Census report published by global shipping consultancy Drewry.  


Global Ship Lease Extends Panamax Charter with X-Press Feeders

Image: Global Ship Lease (GSL)

 Global Ship Lease, Inc. has agreed to extend the time charter for the Ville d'Orion, a 1997-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited, doing business as X-Press Feeders.    The extension is to between November 26, 2015 and February 26, 2016


Malta Shipbuilding Site Converted for Oil and Gas Industry

Ablecare welcomes oil rig to Malta Maritime Hub. Photo: Ablecare OSG

 The Maltese government is all set to set to transform the ex-Malta Shipbuilding site into a service hub for the oil and gas industry, directly employing 160 people while paving the way for Malta to benefit from growing business in the Mediterranean region.  


Fight Over Port of Melbourne Sale

Image: Port of Melbourne

 Victorian Labor is ramping up the pressure on Matthew Guy's Coalition over its decision to block the sale of the Port of Melbourne, reports The Age.   Victoria’s plans to raise $6bn by selling the port of Melbourne are in jeopardy: the opposition refuses to support legislation


Maersk Line to Stay at Houston Port

Photo: Maersk Line

 The world’s biggest shipping company, Maersk Line, and its affiliated shipping services, SeaLand and Safmarine, has agreed to continue to call at the Port of Houston after APM Terminals, a unit of Maersk Group, said it was permanently terminating its operations there


Trafigura, Singapore LNG Sign Storage Agreement

Photo: Singapore LNG Corporation (SLNG)

 The Singapore SLNG Corporation and Commodities trading firm Trafigura have signed a storage agreement for the excess capacity within the Singapore LNG terminal on Jurong Island.   John Ng, CEO at SLNG, operator of the country's first LNG terminal


All American Marine on Course to Double in Size

All American Marine’s foray into larger 100’ and larger vessels as well as increases in overall demand has generated the need for AAM, the Port of Bellingham, and Fairhaven Shipyard to work together to improve the maritime trade facilities heavily utilized by the two anchor tenants.

The Port of Bellingham is poised to change the layout of 7.66 acres of industrial property in Fairhaven and build new infrastructure to support the expansion of two major waterfront employers, All American Marine and Fairhaven Shipyard. “All American Marine and Fairhaven Shipyard provide


Offshore O&G Lease Sale: Continued Interest in Deepwater

Photo: BOEM

The Bureau of Ocean Energy Management (BOEM) completed its required evaluation of bids to ensure that the public receives fair market value for tracts leased as part of the Gulf of Mexico Central Planning Area Oil and Gas Lease Sale 235. The sale held on March 18, 2015, made 7


MCC Looking into San Diego Terminal Development

The Port of San Diegos Tenth Avenue Marine Terminal specializes in three cargo areas: Break Bulk, Refrigerated Containers and Bulk. The Port has entered a conditional agreement with Mitsubishi Cement Corporation for potential future operations. (Photo: Port of San Diego)

 As part of strategic efforts to increase cargo business at the Port of San Diego, the port has entered into a conditional agreement with Mitsubishi Cement Corporation (MCC), one of the largest cement companies in California, for potential future operations at Tenth Avenue Marine Terminal.


Moody's Changes Hapag-Lloyd Rating to Stable

Photo: Hapag-Lloyd

Moody's Investors Service has changed to stable from negative the outlook on the B2 corporate family rating (CFR), the B2-PD probability of default rating (PDR) and the Caa1  senior unsecured rating of Hapag-Lloyd AG. Concurrently, Moody's has  affirmed the ratings assigned to the


Marine Fuel Price Slump Set to Deepen

Marine fuel prices are set to fall further after plunging to their lowest since late 2013, with traders in Singapore, the world's largest ship refuelling hub, saying they are looking to sell quickly in the face of a global supply glut.  


US Appeals Court Rejects Challenge to Shell Spill Plans in Alaska

A divided federal appeals court rejected an effort by environmental groups to void a U.S. agency's approval of two oil spill response plans by Royal Dutch Shell Plc related to the company's oil leases in the Beaufort and Chukchi seas on Alaska's Arctic coast.  


Barging Ahead in Uncharted Waters

Kearns headshot.jpg

A Real-Life Study in Creative Vessel Financing, or What Happens When Plan ‘A’ Is Not Working.   Much has been written on the various structures and approaches that can be used to finance the construction and purchase of vessels


Third 14,000 TEU Container Joins Seaspan

Image: Seaspan Corporation

 Hong Kong-based owner and operator of containerships Seaspan Corporation has taken delivery of a 14,000 TEU containership, the YM Winner.   The new ship, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan’s third 14






 
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