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MARITIME PARTNERS

Navios Maritime Charter Restructuring with HMM

MSC Cristina. Photo: Scheepvaartwest

 Navios Maritime Partners has reached an agreement with South Korean shipping company Hyundai Merchant Marine to cut the hire rate of five container vessels chartered out to HMM by 20%.   Pursuant to the charter restructuring documentation executed on July 15, 2016, it has been agreed that the hire rate of five Container vessels chartered out to Hyundai Merchant Marine Co., Ltd. (HMM) will be reduced by 20%, as follows:   With effect from (and including) July 18, 2016 until (and including) December 31, 2019, hire rate shall be reduced to $24,400 per day pro rata. With effect from (and including) January 1, 2020, hire rate shall be restored to the rate of $30,500 per day pro rata until redelivery.   In exchange under the charter restructuring agreement, the Company received: $7.7 million principal amount of senior, unsecured notes, amortizing subject to available cash flows, accruing interest at 3% per annum payable on maturity in July 2024; and 3.7 million freely tradable shares of HMM.    In August 2016, Navios Partners sold the 3.7 million shares of HMM generating net cash proceeds of approximately $21.3 million.   In June 2016, Navios Partners agreed to sell to an unrelated third party the MSC Cristina, a 2011 South Korean-built Container vessel of 13,100 TEU, for a total net sale price of $125.0 million, with delivery expected by the first quarter of 2017, subject to signing of definitive documentation.  


Navios Apollon Released from Captivity

Navios Maritime Partners L.P. announced that the Navios Apollon and her crew were released on Feb. 27 2010. Navios Partners reported that the Captain and crew are healthy and will be reunited with their families shortly. Navios Partners thanks the Captain, the crew and their families for their fortitude through this trying ordeal. Many assisted the company in achieving this outcome. Navios wanted to recognize the special efforts of the Chinese Embassy in Greece, and the Ambassador personally


NAVEUR's Guidance – Executing Maritime Strategy

From Commander, U.S. Naval Forces Europe - Commander, 6th Fleet Public Affairs Commander, U.S. Naval Forces Europe (NAVEUR)/Commander, U.S. Naval Forces Africa Guidance for 2008 was released Jan. 8, by Adm. Mark Fitzgerald, Commander U.S. Naval Forces Europe. The guidance emphasizes Fitzgerald's priority to implement the Maritime Strategy by "building partnerships and advancing partner nations' self-sufficiency."


APS, Swift Returns to Ghana in Support of NOAA, Fisheries

By Mass Communication Specialist 2nd Class Michael Campbell, Partnership Station Public Affairs High Speed Vessel 2 Swift arrived in Tema, March 30 for its second visit here, as well as its seventh engagement visit as part of Africa Partnership Station (APS). Swift will host a group of 40 Ghanaian fisheries observers in partnership with the National Oceanic and Atmospheric Administration's (NOAA) National Marine Fisheries Service, who will be leading a training workshop.


CNO Participates in Seapower Symposium

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  More than 200 delegates representing 100 countries attended the largest The Chief of Naval Operations (CNO), Adm. Gary Roughead, participated in the 7th Regional Seapower Symposium for the Mediterranean and Black Sea Countries Oct. 15-17 in .   The symposium's theme of "Navies Promoting Dialogue & Cooperation in a Comprehensive Perspective," is similar to the maritime strategy with its emphasis on the importance of enhancing cooperation and building partnerships


WFW Advises ING Bank on $340m Loan Facility for Euronav

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Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV. The facility is comprised of a $192m term loan facility and a revolving credit facility of up to $148m. Euronav plans to use the funds to refinance four Suezmax tanker vessels, finance the acquisition of four very large crude carrier tankers from Maersk and for general corporate purposes


Milestone for DNV Navigator

From left: Jörg Langkabel, DNVs Country Manager in Germany, Lawicki Marek, Master of the HS Chopin and Holger Bender, Sales Executive in Hamburg office.

DNV Navigator certificate no. 2000 has now been installed on the HS Chopin. The event took place while the 3,500 TEU container vessel visited the port of Hamburg today. Navigator is a software package that simplifies port clearance procedures and ensures that the crew have the information needed for any port in plenty of time before the ship arrives at it. The system has been recognised by the industry as the tool that offers the most comprehensive and all-in-one database


NAUTIS Simulator Delivered to Taiwan University

Shipbridge announced as new distributing partner. VSTEP, in cooperation with its distributing partner Shipbridge, have successfully delivered and installed a NAUTIS desktop simulator at the National Taiwan Ocean University in Keelung, Taiwan. The Ocean University is a leading institute for maritime education and oceanographic studies in Taiwan. It also harbours the department of merchant marine and the department of shipping & transportation management


DNV Acquires COEX AS

DNV Navigator TM facilitates compliance with the requirements of charterers and port authorities and is often referred to as the “Captain’s Best Friend”. Industry feedback indicates a considerable efficiency gain with DNV Navigator on board, and as much as a 90% reduction in paperwork for certain ports. This enables ships’ officers to focus on what should be their primary responsibility, namely to operate their ships in a safe and effective manner


New Orleans Vessel Traffic Returns to Normal

Carnival Conquest

Vessel traffic on the Mississippi River returned to normal Sunday as the remnants of Tropical Storm Karen dissipated. U.S. Coast Guard officials rescinded all restrictions on the River and area waterways about midnight, allowing vessels and mariners to resume normal operations. The Carnival Conquest arrived at the Port’s Erato Street Cruise Terminal about noon, followed by the Carnival Elation berthing at the Julia Street Cruise Terminal a half hour later.


De Boer Remorquage SARL Orders Custom Tugs from Damen

Photo courtesy of Damen Shipyards

Baggerbedrijf De Boer B.V. (Dutch Dredging B.V.) has ordered two custom, special-purpose tugs to be built at Damen Shipyards Hardinxveld in the Netherlands through the subsidiairy De Boer Remorquage SARL. The tugs are for a 10-year contract with Grand Port Maritime de Guyane in the ports of


HHI's FSRU Unit equipped by GTT

MARK III SYSTEMS ORIGINAL DESIGN Photo by GTT

GTT has received an order from Hyundai Heavy Industries (HHI) to equip a new floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. This order includes a firm vessel and one option. The FSRU of 170,000 m3 will be built at Hyundai's shipyard


ABS Group Awarded USCG Blanket Purchase Agreement

The U.S. Coast Guard (USCG) has awarded a follow-on $9 million Blanket Purchase Agreement (BPA) to ABSG Consulting Inc., an ABS Group company (ABS Group).   ABS Group will provide a range of Human Systems Integration (HSI) support to the USCG's Human Systems Integration Office (CG-1B3)


New Sat Comms Expert for the Greek and Cypriot Markets

Marlink has signed an agreement to enter into a joint venture with the satellite connectivity business of Greece and Cyprus based TNL Group, enabling it to launch a brand new maritime satellite communications expert, Marlink CG. Delivering a wide portfolio of innovative Marlink VSAT (Very Small


U.S. Navy Conducts Med Air Strikes

An F/A-18F Super Hornet assigned to the Black Lions of Strike Fighter Squadron (VFA) 213 launches from the aircraft carrier USS George H.W. Bush (CVN 77). Photo: United States Navy

The George H.W. Bush Carrier Strike Group (GHWBCSG) commenced strike missions in support of Operation Inherent Resolve (OIR) from the eastern Mediterranean Sea, Feb. 13.  Carrier strike groups demonstrate the mobility, flexibility and power projection capability of the Navy's


Tototheo Commits 1,500 Vessels to Fleet Xpress

L-R Socrates Theodossiou, Managing Director, Tototheo Group Ltd, Ronald Spithout, President, Inmarsat Maritime and Despina Panayiotou Theodosiou, Managing Director Tototheo Group Ltd Photo Inmarsat

Satlink Satellite Communications has entered into a new agreement with Inmarsat to integrate Fleet Xpress into Satlink’s existing service portfolio. Through the agreement, Satlink will bring more than 1,500 vessels to the Fleet Xpress service over a five-year period.


Navios Maritime sells MSC Cristina to Repay $100 mln Debt

Image:  Navios Maritime Partners L.P.

 In January 2017, following the completion of the sale of the MSC Cristina, Navios Maritime Partners repaid approximately $100 million of bank debt.    Proforma for these repayments, net debt/book capitalization for December 31, 2016, has decreased to 36.5%


Wärtsilä, PGS ink Service Deal

Ramform Titan is one of the 8 seismic vessels under the service agreement between Wärtsilä and PGS. Photo Wartsila

Wärtsilä and PGS Geophysical AS have signed a service agreement that makes Wärtsilä the preferred service supplier for engines and other Wärtsilä equipment.   According to the agreement, Wärtsilä will take care of the maintenance of engines and


HAROPA ports Road Shows in Indian cities

HAROPA - Ports of Le Havre, Rouen and Paris to connect India with European markets Photo HAROPA

In a bid to raise the maritime container trade between French port HAROPA and Indian ports, a power-packed delegation is visiting India from February 20-23 to hold road shows in four cities across the country. During the visit, the delegation led by Mr Herve Martel


Crowley Relocates DC Government Office

Photo: Crowley Maritime

To better serve its government customers, such as the U.S. Maritime Administration (MARAD) and Naval Sea Systems Command, Crowley Maritime Corp. has moved its Washington, D.C., office to 100 M Street - adjacent to MARAD and the Navy Yard in the southeastern quadrant of the nation’s capital


Kongsberg Maritime: Reshaping Underwater Operations

First live trials of the Eelume underwater robot took place in Trondheim, Norway Photo Kongsberg Maritime

Eelume AS has released the first live video footage of its game changing take on underwater intervention vehicles. With the support of Kongsberg Maritime as a development partner, the unique new Eelume robot has torn up the marine robotics rulebook to create a futuristic


Carrier Strike Group 1 Conducts South China Sea Patrol

The aircraft carrier USS Carl Vinson (CVN 70) transits the Philippine Sea. The Carl Vinson Strike Group is on a western Pacific deployment as part of the U.S. Pacific Feet-led initiative to extend the command and control functions of U.S. 3rd Fleet. (U.S. Navy photo by Mass Communication Specialist 3rd Class Kurtis A. HatcherReleased)

Carrier Strike Group (CSG) 1, including Nimitz-class aircraft carrier USS Carl Vinson (CVN 70), Destroyer Squadron (DESRON) 1's Arleigh Burke-class guided-missile destroyer USS Wayne E. Meyer (DDG 108), and aircraft from Carrier Air Wing (CVW) 2, began routine operations in the South China Sea, Feb


US Aircraft Carrier Strike Group Begins Patrols in South China Sea

Official U.S. Navy file photo of USS Carl Vinson (CVN 70)

 Carrier Strike Group (CSG) 1, including Nimitz-class aircraft carrier USS Carl Vinson (CVN 70), Destroyer Squadron (DESRON) 1's Arleigh Burke-class guided-missile destroyer USS Wayne E. Meyer (DDG 108), and aircraft from Carrier Air Wing (CVW) 2


Over 100 graduate out of I.T.S. “Fondazione G. Caboto”

Diplomi Caboto 2017 Photo  I.T.S. Caboto

I.T.S. “Fondazione G. Caboto” continues its incredible growth, counting over 100 graduates following the ceremony held on Friday, February 17th, for the 41 young students who achieved their diplomas in December 2016. This historical milestone confirmed the winning formula of the


ECSA Takes Stand in GHG Emissions of Shipping

Photo: ECSA

 European Community Shipowners’ Associations (ECSA) regrets that European port and cargo interests have come out in favour of the European Parliament’s position to conditionally include shipping in the EU Emission Trading Scheme as of 2023 if the International Maritime






 
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