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Chartered Vessel

BP Pulls Plug on Oceaneering Vessel Contract

Photo: Oceaneering International, Inc

 UK giant BP will end a contract off Angola with Oceaneering International about eight months early.   Oceaneering International has announced that BP has exercised its right to terminate its use of the chartered vessel Bourbon Oceanteam 101 at the end of May 2016.   Prior to this notice, the work was scheduled to extend through the end of January 2017.   Under the terms of the contract, the costs incurred by Oceaneering associated with the early release and demobilization of the vessel are expected to be reimbursed by BP. Following the release of the vessel, Oceaneering intends to redeliver it to the vessel owner.    Project management, engineering, and vessel services work associated with the provision for a second chartered vessel, Ocean Intervention III, is expected to continue as previously contracted with BP offshore Angola through January 2017.   Oceaneering is a global provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications.   

Vessel Hijacking Reported on Niagara River

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The U.S. Coast Guard (USCG), Customs and Border Protection, Canada's Niagara Regional Police and the Niagara County Sheriff's Office are investigating a reported hijacking of a Canadian-flagged charter vessel by two Canadian men Tuesday afternoon. About 1:30 p.m. the master of an 18-foot Canadian charter vessel took his boat to Coast Guard Station Niagara, New York, to report that just moments ago two men, both believed to be Canadian citizens

Offshore Solutions’ OAS, 1000 Connections

Photo courtesy Fifth Ring

Offshore Solutions B.V. (OSBV) reported that the OAS, mounted onboard the GDF SUEZ E&P Nederland B.V. (GSEPN) chartered vessel, REM Mermaid, has achieved over 1,000 operational connections without any LTIs. An OAS is a heave compensated telescopic gangway, enabling the safe transfer of personnel from a vessel to an offshore installation (wind turbine, oil or gas platform) designed to operate in 2.5 metre Hs (significant wave height) sea states

Horizon Lines Reaches Agreement with CSX


CHARLOTTE, NC, May 2, 2011 – Horizon Lines, Inc. (NYSE: HRZ) today announced that it has finalized an agreement with CSX Corporation to reduce charter payments on three vessels leased from CSX. Under the agreement, charter hire expense has been reduced by $3 million annually, retroactive to January 2011, through the January 2015 expiration of the charter. The agreement represents a total savings of $12 million for Horizon Lines over the remaining life of the charter

Statoil Awards Hull Cleaning Contract to GAC

Signing of agreement between GAC EnvironHull and Statoil at Statoil’s Headquarter in Stavanger, Norway. From left to right: Åshild Eltervåg, Nadia Nikmanesh, Elin Haave, Karl Ingvar Jorgensen and Robert Anderson. (Photo: Simon Doran)

Eco-friendly HullWiper technology to fight fouling and enhance efficiency for oil and gas company fleet    GAC EnvironHull has signed a contract with the international energy company Statoil to provide underwater hull cleaning services for its vessels operating in Scandinavia, the Middle East and the Far East.   From the second quarter of 2015, GAC EnvironHull, part of global shipping, logistics and marine services provider GAC Group

Baltic Exchange Board Backs SGX Bid

The Baltic Exchange board has unanimously backed a takeover bid from Singapore Exchange Ltd , a deal that will give SGX access to a trading platform for the multi-billion dollar freight derivatives market.   On Aug. 4, SGX offered shareholders in London's privately owned Baltic Exchange 160.41 pounds in cash per share, for a total 77.6 million pounds ($102 million), and urged them to back the deal.   The exchanges have agreed on the terms of the SGX offer

Cory Brothers Shipping Wins BP Hub Agency Contract

Cory Brothers Shipping has been awarded a five year Hub Agency contract by BP Shipping covering the Baltic, Europe, and Mediterranean regions. This is the largest region awarded by BP Shipping within its global system and covers some 6,000 port calls per year. Cory Brothers will be responsible for managing the agency network for BP’s own fleet and voyage chartered vessels employed on BP business. The Hub Agency system ‘ShipTrak’ developed by Cory is linked to BP’s

Cecon Completes Installation Offshore Nigeria


End March Cecon has completed the installation of four flexible pipelines and umbilical’s for Broron Oil & Gas/Addax Petroleum in waters offshore Nigeria, West Africa.   The project was  initially awarded (Oct 2011) to Cecon ASA as a fast-track subsea tieback project for the management, transport, installation and tie-ins of two flexible pipelines and two umbilicals between two wells in 130 m water depth and the Okwori FPSO

Evergreen Installs ClassNK-NAPA Green Software

From left to right: Chairman and President Noboru Ueda from ClassNK, President Mong-Jye Lee from Evergreen Marine Corp. and President Juha Heikinheimo from NAPA Group at the signing ceremony in Taipei on April 10, 2015

Eco-efficiency software aims to increase fuel efficiency and business intelligence on Evergreen Line chartered container vessels   Evergreen Line has commenced installation of ClassNK-NAPA GREEN software on chartered container vessels. At the conclusion of a competitive tender process, ClassNK-NAPA GREEN software - developed by NAPA, global maritime software house and classification society ClassNK - was chosen to provide a total solution for planning

Malikai TLP Float-Off in Malaysia

Photo courtesy of Dockwise

InterMoor completed its involvement in the Shell Malikai Tension Leg Platform (TLP) float-off operations. The TLP was loaded onto the Dockwise Heavy Lift Vessel White Marlin at Malaysia Marine and Heavy Engineering (MMHE) shipyard in Pasir Gudang, Malaysia, and transported to a float-off location in the Singapore Straits.    Contracted by TMJV, a joint venture between Technip and MMHE Shipyard, InterMoor Pte was responsible for the marine aspects of the float-off and tow of

Maersk Mulls Quick Acquisitions

Photo: Maersk Line

 Danish shipping giant A.P. Moeller-Maersk A/S’s container altered its strategy this month by planning to expand its fleet through acquisition, breaking from its previous preference of building its own boats, reports Forbes.  

Maersk Line Implements BigOceanData Vessel Tracking

Photo: Maersk Line

BigOceanData and Maersk Line have entered into a two-year agreement whereby BigOceanData will deliver vessel tracking services to Maersk Line. The initial system went live on August 1, 2016 and is already in use in operation centers around the world on both desktop and mobile devices

Volkswagen Opts for LNG-powered Shipping

Image: Volkswagen Group

 The Volkswagen Group said it will use two vessels powered by liquefied natural gas (LNG) on routes between Europe and North America from 2019, in a move that aims to improve the environmental balance of its marine transport fleet.  

Asia Dry Bulk-Capesize Rates to Remain Steady

File Image (Credit BSM)

Owners seeking to push rates higher, close to year-long highs; dry bulk sector to see greater consolidation - BIMCO. Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain steady next week even as owners try to push rates up close to year-highs

Norden Sells 4 Post-Panamax Bulk Carriers

Nord Dorado (Photo: NORDEN)

Further tightening its ownership focus within the dry cargo segment to medium-sized Supramax and Panamax vessels, Dampskibsselskabet NORDEN A/S has sold its final four Post-Panamax bulk carriers.   Following the sale, which involved Nord Delphinus (114,167 tdw built in 2010)

Norden Sells 4 Handysize Bulk Carriers

Photo: Dennis Schnell, Bulldog and Partners

As Dampskibsselskabet NORDEN A/S further tightens its focus in the dry cargo segment to medium-sized Supramax and Panamax vessels, the company has sold four Handysize dry cargo vessels.   Following the sale of Nord Hong Kong (32,282 tdw built in 2011), Nord Houston (32,389 tdw built in 2011)

Hanjin to Return 38 Vessels Next Year

Photo: Hanjin Shipping

Hanjin Shipping is planning to return a total of 38 chartered vessels once their contracts end as part of its restructuring efforts, reports the Korea Herald. A company official said Hanjin was planning to return 20 containerships and 18 bulk vessels by 2017, but declined to disclose details

Singapore Exchange Prepares Offer to Buy Baltic Exchange

Singapore Exchange Ltd (SGX) is readying a formal offer to buy London's Baltic Exchange following months of discussions that culminated in exclusive talks between both parties, sources familiar with the matter said on Tuesday.   Founded in 1744

Singapore Exchange Looks to Buy Baltic Exchange

Singapore Exchange Ltd (SGX) said it planned to offer 77.6 million pounds ($103 million) to buy London's Baltic Exchange and was seeking support from Baltic's shareholders for the deal. In a statement on Thursday, SGX said it sought to acquire from Baltic shareholders their issued ordinary

SGX Prods Baltic Exchange Shareholders to Okay Bid

Total valuation of potential deal at least $113 million; Baltic shareholders key to clinching sale agreement. Singapore Exchange Ltd (SGX) plans to buy one of London's oldest institutions, the Baltic Exchange where shipping rates are published

Ince to Advise Danaos on HMM Restructuring

Photo: Danaos Corporation

 Ince & Co’s London and Piraeus corporate, finance and shipping teams have advised long-standing client Danaos Corporation on Korean container line Hyundai Merchant Marine Co. (HMM), Ltd.’s US$2.1 billion restructuring.  

Hanjin - Possible Risks for Cargo Insurers

Photo: Hanjin Shipping

 As a consequence of Hanjin Shipping's financial collapse one can anticipate that there will be displaced containers worldwide with Hanjin vessels being arrested short of or at destination, being moored up or remaining outside port limits to avoid arrest or being stuck at a port short of

Busan: Business May Not be As Usual, Post Hanjin

Photo: Hanjin Shipping

Though Busan Port, the largest customer of Hanjin Shipping and hit hardest by the Liner's collapse,  asserts that everything is under control, doubts are being raised on Hanjin rehab plan as ships clog at the South Korean port, reports Reuters.  

Hanjin Gets $45 Million Credit Line From KDB

Photo: Hanjin Shipping Co

 Korea Development Bank has offered a conditional credit line of 50 billion won ($45 million) to help ease supply-chain disruptions caused by the collapse of Hanjin Shipping Co, says a report in Reuters.   An estimated $14 billion of cargo was trapped on Hanjin ships when the world's

Baltic Exchange Shareholders Approve Singapore Exchange Takeover

Baltic Exchange shareholders on Monday approved an 87 million pound ($112 million) takeover by Singapore Exchange for one of London's oldest institutions, in a deal that will give SGX access to the multi-billion-dollar freight derivatives market.

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