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Chartering 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.   


SCI Orders New Cellular Container Vessel

The Shipping Corporation of India Ltd. (SCI) continues to modernize its fleet by acquiring new vessels. On July 14, SCI placed an order for a Cellular Container vessel of 3,500 TEU capacity, with M/s Rongcheng Shenfei Shipbuilding Co. Ltd., China. The shipyard was selected for building the vessel through competitive global tendering process. The vessel would be built to specifications complying with the latest international and national rules and regulations


USCG, Paramedic Assist Man off Cape Fear

Photo USCG

  Coast Guard Oak Island crew members and a Brunswick County paramedic came to the aid of an ailing man Wednesday aboard a charter fishing vessel approximately 15 miles southeast of the Cape Fear River entrance.   Personnel at Coast Guard Sector North Carolina received notification from the 25-foot charter vessel with five people on board Wednesday about noon stating a 35-year-old male passenger with heart problems was in and out of consciousness approximately 28 miles southeast


Offshore UK: Government Brokers Use of BP Emergency Vessel

The agreement between the government and BP allows HM Coasguard to call on a BP-chartered vessel in the event of a pollution incident. An operational and commercial model has been brokered with the oil industry allowing HM Coastguard to call on a BP-chartered vessel, the Grampian Frontier, to provide support in the event of a pollution incident. The Emergency Response and Rescue Vessel (ERRV) operates west of Shetland and the owner North Star Shipping is working with the Maritime and


Pirates Attack off Indonesia

Reuters has reported that pirates have attacked three ships, including two U.N.-chartered vessels and a Japanese bulk carrier, in Indonesian waters around the Malacca Strait in recent days, maritime and police officials said on Wednesday. Two attacks occurred on ships carrying relief material to tsunami-stricken Aceh province at the weekend, while a Japanese bulk carrier was targeted, reports said. In at least one of the weekend attacks, raiders were armed with AK-47 rifles


Jaya Welcomes New President to Offshore Division

Max Hartvigsen has been appointed by Jaya Holdings Ltd. as the organization’s new President of the Offshore Division, effective immediately.   Max will report directly to the Chief Executive Officer and will be responsible for business development, profit and loss for the fleet of owned and chartered vessels, and operational excellence of the fleet, including technical management, operational requirements and client management.


Container Vessel Cap Pasley Christened

In Brisbane, Australia, Hamburg Süd named another 1,819 TEU container vessel, the Cap Pasley. Like the Cap Palliser, which was christened in Tauranga, New Zealand three days ago, the Cap Pasley is one of a series of five identical charter vessels owned by the Claus-Peter Offen shipping company that are to be deployed in the Hamburg Süd Group's liner service between Asia and Australia/New Zealand. Sponsor of the Cap Pasley is Carol Teys, wife of Alan Teys


MISC Says AET Tankers Unit Not for Sale

Photo: AET

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers. The company said, “Petroleum shipping is a core element of [MISC’s] current and ongoing business and, as such, has no plans to divest itself of its petroleum tanker subsidiary.” The statement comes in response to now disconfirmed media reports that stated MISC was looking to sell AET to Teekay.


Ailing Mariner Medevaced Near Alaska

A USCG helicopter crew hoists an ailing mariner from the fishing vessel Western Profit near Sitka, Alaska. After safely hoisting the injured man, he was brought to a higher level of medical care in Sitka. (Screenshot of USCG_ video by Air Station Sitka.

A U.S. Coast Guard Air Station Sitka MH-60 Jayhawk helicopter crew medevaced an ailing mariner from Deep Bay, 25 miles north of Sitka, Sunday.   The Jayhawk crew safely hoisted the 68-year-old man from the Western Profit, a 62-foot charter vessel, and transferred him to Sitka Community Hospital.   Coast Guard Sector Juneau command center watchstanders received a report from the crewmembers of the Western Profit that the mariner was suffering from chest pains.  


Coast Guard Responds to Boat Fire

The U.S. Coast Guard snuffed out a fire on a boat in Grays Harbor, Wash., according to an Astorian report. A charter vessel, the Mariner, was tied up at the dock with no one on board when a fire broke out. A 47 ft. (14 m) motor lifeboat from Station Grays Harbor was first at the scene and began throwing water on the flames. The station also launched 52 ft. (16 m) motor lifeboat Invincible, which extinguished the flames using pumps.


Eimskip Acquires Nor Lines

Photo: Nor Lines

 Iceland-based Eimskip has agreed to acquire Norwegian shipping and logistics company Nor Lines. According to Eimskip, the operation of Nor Lines has been challenging in recent years and the business will be restructured in order to improve the firm’s services.  


Korea Line to Take Over Hanjin's Asia-US Route

Photo: Hanjin Shipping

 South Korea’s Korea Line has been picked as the preferred bidder to buy the troubled shipper Hanjin Shipping’s Asia-US operations, beating Hyundai Merchant Marine, reports Reuters.   The judge at the Seoul Central District Court


Hanjin Fleet Shrinks

Photo: Hanjin Shipping Co

 Following its bankruptcy filing, Hanjin Shipping Co.’s fleet has shrunk to about a tenth of its size after the South Korean container line returned most of its chartered vessels to owners, reports Bloomberg.   All but three of the remaining 14 ships are either stranded or have


Singapore Exchange Completes Baltic Exchange Takeover

Singapore Exchange has completed its takeover of the privately-owned Baltic Exchange, sealing an 87 million pound ($108 million) deal for one of London's oldest institutions, the groups said on Tuesday. The acquisition is one of the latest developments in a string of mergers


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


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.  


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


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.  


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.


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


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 - 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


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


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.  


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






 
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