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 world’s first 18,800 TEU LNG-ready ultra-large containership, M.V. Barzan, was recently named at a ceremony in South Korea. MV Barzan is one of 17 (11 x 15,000 TEU and 6 x 18,800 TEU) advanced new containerships built by Hyundai Heavy Industries for United Arab Shipping Company (UASC), all of which will start their operational life with IP connectivity using Marlink VSAT (Very Small Aperture Terminal). With reliable broadband
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)
Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the Hanjin Namu. The new containership, which was constructed at Jiangsu New Yangzi Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design, is Seaspan's second of five 10000 TEU SAVER design containerships scheduled for delivery in 2014. The Hanjin Namu will commence a ten-year, fixed-rate time charter with Hanjin Shipping Co. Ltd. ("Hanjin")
Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the MOL Bravo. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. using Seaspan's fuel-efficient SAVER design, is Seaspan's fourth of five 10000 TEU SAVER design containerships scheduled for delivery in 2014. The MOL Bravo will commence an eight-year, fixed-rate time charter with Mitsui O.S.K. Lines Ltd. ("MOL")
Seaspan Corporation announced today that it accepted delivery of a 10000 TEU containership, the MOL Beacon. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd., is Seaspan's seventh 10000 TEU SAVER design containership and first delivery in 2015. This is the twelfth 10000 TEU vessel using Seaspan's fuel-efficient SAVER design constructed at Yangzijiang. The MOL Beacon will commence an eight-year, fixed-rate time charter with Mitsui O.S.K
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.
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
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
The German navigation system integrator Raytheon Anschütz was selected by the German-based shipowner NSC to supply the latest generation of the IMO-certified Synapsis Integrated Navigation System (INS) to a series of 9,000 TEU Containership newbuildings. The new containerships are built by Korea's Hanjin Heavy Industries and Construction’s Subic Shipyard in Subic Bay, Philippines and are scheduled for entering service in 2014
Maritime shipping and offshore classification services provider ABS has been selected to class 11 newbuild ultra-large containerships (ULCs) for Maersk Line A/S of Denmark, the classification society announced today. At 19,630 TEU, Maersk’s second generation of Triple-E
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract for one of its Post-Panamax container vessels, the m/v Pucon
Finnish provider of energy management technology and data analytic services to the shipping industry Eniram Limited announced that it has been selected by short sea end-to-end operator Containerships to help optimize vessel performance and reduce fuel consumption.
The CMA CGM Group’s largest vessel, CMA CGM Georg Forster, was christened today in Hamburg, Germany. The new ultra large vessel, a 398-meter-long, 18,000 TEU containership, is the second in a series of six vessels of the same size that will enter service for CMA CGM in 2015
The 9,000 TEU containership UASC Umm Qasr was designated “Green Ship of the Year” by the Maritime & Port Authority of Singapore. Built by Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), the containership
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v YM New Jersey, a 2006-built Panamax container vessel of approximately 5
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Zim Integrated Shipping Services Ltd, for one of its Panamax container vessels
Last month Svitzer and Titan Salvage announced plans to merge their salvage operations. Peter Pietka, former chief executive of Svitzer Salvage, takes the helm of the new combined company – to be dubbed Ardent and headquartered in Houston – on May 1
When the expansion of the Panama Canal is complete, liner shipping companies will finally be able to use larger vessels. Hapag-Lloyd has therefore ordered five state-of-the-art ships. Hapag-Lloyd has ordered five modern container ships from the South Korean shipbuilder Hyundai Samho Heavy
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
The International Association of Classification Societies (IACS) announced the adoption of new Unified Requirements to further improve the safety of large containerships by enhancing consistency between preexisting class society provisions in this area.
Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM. It also has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended.
Seaspan Corporation accepted delivery of a 14,000 TEU containership, the YM Witness. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's fourth 14,000 TEU SAVER design containership and fifth delivery in 2015.
A naming ceremony was held for the Evergreen Group’s newest containership, Ever Lovely, the ninth of its L-type vessels to be built by CSBC Corporation in Taiwan and the penultimate vessel in a series of 30 ships. The ceremony took place at CSBC's Kaohsiung shipyard and was
Uni-Asia Holdings Limited has acquired a new wholly owned Panama-incorporated company known as Fortuna Containership S.A. as a ship owning subsidiary for the purpose of acquiring a 3,500 TEU second hand containership. Fortuna Containership was incorporated in Panama on 20 May 2015