Matson Navigation Co. Inc. says it has drawn $70m under a $105m revolving credit facility in connection with its latest containership purchase. The 10-year senior secured reducing revolving credit facility is with DnB NOR Bank ASA, Norway's largest financial services group. "A portion of the funds borrowed under the facility was used in connection with Matson's purchase of a new containership, the MV Maunalei, which Matson took delivery of on July 12," Matson said Tuesday. "The balance of the funds borrowed under the facility was used for other general corporate purposes." The funds were drawn on July 12, the same day Matson, a subsidiary of Honolulu-based Alexander & Baldwin Inc., took delivery of the Maunalei, the fourth new containership it bought since 2003 in a $500m modernization program.
The Kyoto Express, Hapag-Lloyd’s latest mega containership, was named in Yokohama and consecrated with the traditional Shinto ceremony. The patron was the wife of NYK Chairman Minako Kusakari. The Kyoto Express is a giant containership measuring 1099 ft. (335 m) long, 141 ft. (43 m) wide; and over 197 ft. (60 m) from the keel to the superstructure. The newbuilding has a capacity of 104,000 t and can carry 8,750 standard containers (TEU)
The new Matson Navigation Co. containership MV Maunalei was christened at the Aker Philadelphia Shipyard. The christening, the traditional kind involving breaking a bottle of champagne, was undertaken by Millie Akaka, wife of Sen. Daniel Akaka. Also on hand were Hawaii Rep. Neil Abercrombie and Guam Rep. Madeleine Bordallo. The MV Maunalei is the fourth new containership built by the shipyard for Matson in the past four years
Bondholders who financed the shipping company Enterprises Shipholding, said on Tuesday they had arrested one of the company's newest containerships, the Ocelotmax, to force repayment of a $175 million bond on which it defaulted in June. "The Ocelotmax was arrested to secure the bondholders' unquestionable right to judgment and payment of their claims against Enterprises," said a statement from the bondholders. "While the bondholders have initiated multiple efforts to address the default
CP Ships Limited has taken delivery of the 3200 teu TMM Colima. It was delivered on schedule by China Shipbuilding Corporation in Kaohsiung, Taiwan. TMM Colima is the third new containership to be delivered under CP Ships' four-year $800 million ship replacement program. It was preceded by sister ship Lykes Ranger delivered in June 2002 and Contship Aurora delivered in September 2002. It is being deployed in the Asia-Americas trade lane.
Matson Navigation Company, Inc.'s new containership MV Maunawili was christened Saturday, July 17 at Kvaerner Philadelphia Shipyard, Inc. (KPSI) by Ms. Maryanna G. Shaw, great grand-daughter of Samuel T. Alexander, one of the founders of Matson's parent company, Alexander and Baldwin, Inc. (A&B). The vessel is the second of a two-ship, $220 million contract with KPSI. Among those present for the ceremony will be Charles M
After nine months of informal consultations with its customers and the maritime industry, the Panama Canal Authority (ACP) today announced a formal proposal to update their current vessel measurement and pricing system for full container vessels and other vessel types with on-deck container capacity. The ACP’s proposal would change the system that the Canal currently uses for the container segment – from the Panama Canal Universal Measurement System (PC/UMS) to the industry standard of the
Mitsui O.S.K. Lines, Ltd. (MOL) today announced a decision to order two containerships (8,600 TEU) from Mitsubishi Heavy Industries, Ltd., with delivery slated for 2013. Along with eight 8,100 TEU ships already in operation, the new vessels will be deployed to Asia-Europe routes. The company also reached an agreement with NOL Group* for a three-year charter of five large containerships (14,000 TEU) of 10 that NOL Group has on order
FINLAND-based door-to-door short-sea operator Containerships Group has reacted to a statement issued by Russian liner operator FESCO which named the company as a purchase target and says there are no plans to sell the company to FESCO or anyone else. Sigurjon Markusson, managing director of Containerships Group says, "Containerships Group is a Finnish company which is 65 per cent owned by Eimskip, which in turn is listed on the Icelandic Stock Exchange. The
Danaos Corporation (NYSE: DAC) extended its shipbuilding contracts with China Shipbuilding Trading Company, Limited to include one more 8,530 TEU vessel, bringing the total number to five vessels. All five Post Panamax containerships will be built by the Shanghai Jiangnan Changxing Heavy Industry Company Limited and are expected to be delivered to Danaos between August 2010 and February 2011. Danaos has also arranged for a large international liner company to charter all these vessels for 12
Germanischer Lloyd (GL) has signed a classification agreement with Hyundai Heavy Industries (HHI) for the construction of five 18,400 TEU containerships. The so far largest container vessels are ordered by China Shipping Container Lines (CSCL).
Mitsui O.S.K. Lines, Ltd. (MOL) announced the completion of a tabletop drill done in cooperation with the fifth Regional Coast Guard Headquarters. The scenario entailed a containership operated by MOL Liner Division (Hong Kong) and managed by an MOL Group ship management company (Hong Kong)
The Department of Defense, has issued the following relevant Navy contracts. Container ship charter Teras BBC Ocean Navigation Enterprise Houston, LLC, Bellaire, Texas, is being awarded a $9,847,700 firm-fixed-price contract with reimbursable elements, for the worldwide charter of one U.S
Hyundai Heavy Industries (HHI) announced the Company won a $700 million order for five 18,400 TEU containerships from China Shipping Container Lines (Hong Kong) Co., Ltd. The world’s largest containerships will feature an electronically-controlled main engine and two EcoBallast seawater
The Board of Directors of leading US carrier in the Pacific, Matson Inc., declares its second quarter cash dividend of $0.15 per share. "I am pleased to announce that our Board of Directors have authorized our second quarter 2013 dividend," said Matt Cox
ABS hosted its Annual Meeting in New York on April 23, 2013. ABS Chairman, Robert D. Somerville reported that, "despite the uncertainties of the global economy and of the shipping and offshore markets, ABS turned in yet another record performance."
Diana Containerships Inc., a global shipping company specializing in owning and operating containerships, announced that it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 1989-built vessel Maersk Madrid (to be renamed
Erma First ESK Engineering Solutions S.A. has concluded the installation of its Ballast Water Management System "Erma First" in two container ships being built at Zhejiang Ouhua Shipbuilding for Greek owner Evalend Shipping Co. S.A.
The $50 million in additional port deepening funds proposed by Georgia Gov. Nathan Deal has been approved by the state legislature and now awaits the governor’s signature. Along with previous funding, Georgia has allocated $231.1 million toward the state’s portion of the Savannah
Diana Containerships Inc. has taken delivery of the m/v “Hanjin Malta”, a 1993-built Panamax container vessel of 4,024 TEU capacity. The Hanjin Malta is time chartered to Hanjin Shipping Co. Ltd., Seoul, for a period of minimum thirty-six and a half months to maximum thirty-eight
LR classed Alexandros and Aristotelis are the first of five new 5,000 teu new ships, all to be delivered from HHI Gunsan by June 2013, that sees Capital expand its operations into the container sector. Capital Shipmanagement has marked the delivery of their new containerships
The crew on the Abeille Bourbon successfully completed towing operations on the CMA CGM Marco Polo, the jewel in CMA CGM’s crown and the largest containership in the world (capable of carrying up to 16,020 TEUs(*)), as part of an exercise organized by the Atlantic French Maritime Prefecture
Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) has announced that the company has built additional training facilities and cabins on CADET training vessels and started a new onboard intensive training program, called Cadet Actual Deployment for Education with Tutorial (CADET Training).
The first of 20 giant Triple-E ships for Maersk Line comes out of Daewoo Shipbuilding & Mechanical Engineering Co. drydock for fitting out alongside. The name "Triple E" is derived from the class's three design principles: "Economy of scale
CMA CGM, announced that passengers cabins are now available on board the massive CMA CGM Marco Polo containership (16 020 TEUs). These original cruises offer travelers the possibility to live a unique experience by discovering oceans, seas and continents to the beat of international trade and