Capital Product Partners L.P. announced that the deliveries of its eleventh and twelfth medium range (MR) product tankers, M/T "Apostolos" and M/T "Anemos I", from Hyundai Mipo Dockyard Ltd., a Korean shipyard, have been confirmed, ahead of the anticipated time of delivery, for September 20 and September 28, 2007, respectively. M/T "Apostolos" and M/T "Anemos I" are ice strengthened vessels (Ice Class 1A) and have carrying capacities of 47,782 dwt and 47,823 dwt, respectively. Both vessels are capable of carrying a range of refined oil products, chemicals (including ethanol and biodiesel feedstock), and crude oil worldwide. Both M/T "Apostolos" and M/T "Anemos I" have been fixed under time charters with Morgan Stanley Capital Group Inc. for three years at a base rate of $20,000 per day, subject to a profit sharing arrangement which allows each party to share, at a 50/50 percentage, additional revenues when spot rates are higher than the base rate. The purchase price for the two vessels of $56 million each will be fully funded through a drawdown on the existing revolving credit facility. The M/T "Apostolos" and M/T "Anemos I" are the third and fourth out of seven additional MR product tankers that Capital Product Partners L.P. has agreed to purchase from Capital Maritime & Trading Corp. The remaining three product tankers will be 51,000 dwt MR chemical/product tanker sister vessels that are scheduled for delivery in January, June
Capital Product Partners L.P. (CPLP) has announced the chartering of the M/T Avax to BP Shipping. The M/T Avax (47,834 dwt, IMO II/III Chemical Product Tanker built 2007 Hyundai Mipo Dockyard, South Korea) was chartered in October 2013 to BP Shipping for a minimum charter term of one year (+/- 30 days). BP Shipping has the option to extend the charter for an additional 12 months at a gross day rate of $15,600 per day.
Capital Product Partners L.P. (CPLP) attribute fourth quarter 2012 net loss to a US$43.2-million impairment charge. CPLP an international owner of modern tanker, dry bulk and container vessels has released its financial results for the fourth quarter ended December 31, 2012. The Partnership's net loss for the quarter ended December 31, 2012, was $35.0 million, including an impairment charge of $43.2 million, which is a non cash item
Oiltanking Partners, L.P. says it has expanded its terminal agreement with Enterprise Products Partners, L.P. to further increase exports of liquefied petroleum gas (LPG) at the Partnership's terminal on the Houston Ship Channel. With an expected completion date of year-end 2015, the expanded LPG export terminal will have total loading capacity in excess of 16 million barrels per month of low-ethane propane and/or butane.
A U.S. energy company has found a second buyer in Japan for its condensate, an ultra-light oil, paving the way for more excess barrels from the United States to head to Asia to meet growing demand. Enterprise Product Partners has signed a short-term contract to sell condensate to Japanese trading company Mitsubishi Corp, less than two weeks after it sold its first cargo to Japanese firm Mitsui Corp, four Asia-based sources said.
Capital Product Partners L.P. (CPLP) announced the appointment of Petros Christodoulou as Chief Executive Officer and Chief Financial Officer. His appointment will be effective beginning September 1, 2014. Christodoulou will succeed Ioannis Lazaridis, who has served as the Chief Executive Officer and Chief Financial Officer since the Partnership’s formation in January 2007 and as Chief Financial Officer of Capital Maritime & Trading Corp. (Capital Maritime), since 2004
Joint 14,000 teu boxship LNG as fuel project will be ‘cornerstone’ of a broad sustainability strategy supported by LR Capital Ship Management Corporation is prioritizing a business strategy inspired by, and applying, the key principles and goals of the International Maritime Organization’s (IMO’s) Strategy for Sustainable Maritime Transport Systems. Capital is incorporating key 'imperatives' and 'goals'
The U.S. Commerce Department has taken a small step toward resolving some two-dozen pending requests to export lightly processed oil this summer, asking energy companies to fill out a one-page questionnaire about their plans, sources familiar with the document told Reuters. The nine questions may help the department map out a further easing of the four-decade old ban on crude exports. In August, the Commerce Department's Bureau of Industry and Security (BIS) sent a standard set of nine
At least two offshore oil platforms halted operations on Tuesday in the U.S. Gulf of Mexico after a fire at a natural gas processing plant in Mississippi shut a crucial pipeline that brings output onshore, several companies said. The fire at Enterprise Products Partners plant in Pascagoula was brought under control, but officials were still forced to close the 225-mile Destin gas pipeline system that can carry 1.2 billion cubic feet per day from offshore fields to Pascagoula.
Enterprise Products Partners on Thursday said the first ship to load ethane for export from its new terminal on the Houston Ship Channel will arrive on Aug. 1, the first such export of the light natural gas liquid from the U.S. Gulf Coast. Exports from the terminal are expected to ramp up to 1.9 million barrels per month by the end of the year, executives said on Thursday during the company's second quarter earnings call.
An agreement between ZF Friedrichshafen AG and Rolls-Royce Power Systems will see the two companies collaborate even more closely on the development, marketing, sales and service of marine propulsion systems. The combination of MTU engines from Rolls-Royce Power Systems and marine
Since December 14 2016, multimodal rail operator H&S Container Line is offering a direct rail connection between the port of Antwerp and Andernach (Germany, Rhineland-Palatinate). Andernach’s trimodal terminal is already connected to Antwerp with a frequent barge service
The ABS-classed Ethane Crystal, the world’s first Very Large Ethane Carrier (VLEC) -- and a Maritime Reporter & Engineering News "Great Ship of 2016" as profiled in the December 2016 edition -- has loaded its first shipment of ethane cargo at Enterprise Products Partner’s
Marking its 15th Anniversary in 2016, INTTRA, the world's ocean shipping electronic marketplace, looks back on the success of its innovative platform while embracing its future as the digital leader in logistics - growing rapidly and expanding its offering.
Consolidated Grain and Barge Co. (CGB) announced plans today to expand its operations at the Port of Indiana-Mount Vernon, investing more than $31 million to increase its soybean processing capabilities in southwest Indiana. “Indiana is a state known around the world for building things
The Bureau of Ocean Energy Management (BOEM) and the National Oceanic and Atmospheric Administration's (NOAA) National Centers for Coastal Ocean Science (NCCOS) have released a new report and interactive map and data sets that highlight what is known about the marine environment of the main
Damen Shipyards Gorinchem, which is also the headquarters of the Damen Shipyards Group, opened its doors to customers and industry partners alike for the first Damen Workboat Festival. More than 200 guests arrived for the one-day event, taking the opportunity to inspect a wide range of Damen
TorQuest Partners has invested in McKeil Marine, in partnership with existing management and shareholders, the two companies announced. Terms of the investment were not disclosed. McKeil also announced that Steve Fletcher, President, who has been with McKeil for 17 years
Finland based drive train technology specialist The Switch said it has closed a deal on October 31 to purchase Wärtsilä’s Norway-based marine power drives product range for megawatt-class applications. Backed by Yaskawa, this acquisition aims to provide a platform for the
The U.S. built tanker ship Constitution returned to the NASSCO shipyard on Wednesday, October 26 following tests and trials off the coast of San Diego, Calif. The ECO Class vessel is a 610-foot, 50,000 deadweight-ton, and LNG-conversion-ready product tanker with a 330
GE’s Marine Solutions has appointed Jason Electronics Pte. Ltd. as its value-added reseller for SeaStream dynamic positioning (DP) systems in the ASEAN region and China. The appointment gives Jason Electronics reselling rights of GE products in the aforementioned regions.
On November 8, 2016, shipbuilder General Dynamics NASSCO delivered the American Jones Act-qualified ECO Class tanker Constitution to SEA-Vista LLC. The ship was delivered during a signing ceremony at the builder’s shipyard in San Diego.
Mouvex, part of PSG, a Dover company and manufacturer of positive displacement pumps, is celebrating its 110-year anniversary in 2016. Headquartered in Auxerre, France, Mouvex was founded in 1906 by engineer André Petit when he identified the challenges that gear and lobe
For the eighth year in a row Advanced Mechanical Enterprises (AME) will be showcasing at the International WorkBoat Show (IWBS), the largest commercial marine tradeshow in North America serving people and businesses working on the coastal, inland and offshore waters.
U.S. Customs and Border Protection (CBP), Office of Field Operations, at the Charleston Seaport arrested a Goose Creek, S.C., woman on Wednesday who was wanted in connection with a local murder. The woman, destined to depart Charleston for the Bahamas on December 7