Product Partners
CPP Awaits Two New Tankers
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
Greek Shipowners CPLP Justify Q4 2012 Net Loss
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
Simrad and Suzuki Collaborate on Distribution Deal
Simrad U.K. has been appointed as the official distributor of Suzuki Brand products into the U.K. and Ireland. The distribution deal allows Simrad to stock and sell Suzuki Marine products in both markets, greatly expanding the huge choice that Simrad already offers the fishing industry. Suzuki manufactures a range of low-cost searchlight Sonars and Echosounders, which perfectly compliment Simrad’s existing fishing product
MAN Diesel, Harren & Partner Celebrate Order Completion
MAN Diesel SE recently held a small celebration at its works in Augsburg, Germany. The event marked the start of acceptance testing of the final engine of eight ordered by shipowner Harren & Partner of Bremen, Germany, for a series of eight 16,500 DWT oil products and chemicals tankers being built at the Chinese Jiangnan Shipyard. As well as representatives from the shipowners, delegates from investors in the ships also participated at the celebration.
Shipvertical Internet Group To Partner With Marine Digital
ShipVertical Internet Group has signed an agreement to enter into partnership discussions with Marine Digital, the Korean-based global maritime marketplace for shipbuilding, ship cargo, ship bunkering, ship sale & purchase, and fishery markets. The agreement enables both parties, ShipVertical Internet Group and Marine Digital, to exchange products/service platforms on the web, to mutually benefit from each party's distribution network
NASSCO Begins Construction of Product Carrier
General Dynamics NASSCO began construction of the second ship of its new class of product carriers. The shipyard is scheduled to lay the ship’s keel in June and deliver the ship to U.S. Shipping Partners in the second quarter of 2009. In August 2006, NASSCO received a $1b contract from U.S. Shipping Partners to build nine ships. The ships will be double-hulled, 600.4 ft. in length and displace 49,000 dead weight tons
W&O Supply Partners with Atlantic Marine
W&O Supply, a supplier of marine valves, pipe, fittings and valve automation services, signed a Master Commodity Agreement with the Atlantic Marine Holding Company and its subsidiaries. The agreement allows Atlantic Marine and its shipyards on the East Coast and the Gulf of Mexico to offer more aggressive pricing on new construction and repair products, carry a full line of inventory and enhance service arrangements for their customers.
Pumping Companies Partner Up
Pumping Machinery and Pumping Solutions, Inc. have formed a partnership, to provide an expanded range of services to the pump users community. Pumping Machinery, based in New Jersey, is a provider of consulting, training and equipment field troubleshooting, while Chicago-based Pumping Solutions, is a full product range distributor of centrifugal and positive displacement pumps, compressors, and monitoring equipment.
Markey Machinery Seeking Area Partner
Markey Machinery Company, Inc (USA) is actively seeking a partner in the South Pacific area. This partner will manufacture and help support machines designed and carrying the Markey brand. An opportunity exists for the right company to produce winches, windlasses, and capstans of the highest quality standards while serving the growing needs of the Australian-region market and demands exceeding our factory production capacity.
Telespazio VEGA UK to Distribute Thuraya Solutions Globally
Abu Dhabi - To further meet the requirements of global vertical markets, Thuraya has recently signed a Service Partner agreement with Telespazio VEGA United Kingdom, a subsidiary of Telespazio SpA, a Finmeccanica-Thales company. Through this partnership, Telespazio VEGA will distribute Thuraya’s integrated portfolio of satellite communications products, which includes Thuraya IP, a compact satellite broadband solution supporting 384 streaming
PC Maritime to Install ECDIS in 50-vessel China Shipping Deal
PC Maritime’s Navmaster ECDIS has been chosen by China Shipping Group to be fitted to 50 newbuild bulk carriers. This large ECDIS fleet contract was negotiated by Bogerd Martin NV’s subsidiary company, Bogerd Martin China, based in Shanghai.
Houston Ship Channel Expansion Planned
Kinder Morgan announces land purchase, plans to construct dock and expand terminal capacity on Houston Ship Channel. Kinder Morgan Energy Partners say they will invest $106 million to purchase approximately 20 acres adjacent to its Pasadena, Texas, terminal
MTN and Norwegian Cruise Line Announce Social Media Record
MTN and Norwegian Cruise Line (Norwegian) announce that a new record for social media usage at sea was set during Norwegian Breakaway’s New York inaugural events. MTN delivered the communications services for its partner, Norwegian, enabling this social media breakthrough that helped
BMT Reports Strong Full Year Performance
BMT Group Ltd (BMT), the international design, engineering and risk management consultancy, has announced another strong financial performance for the year to September 30, 2012. By focusing on markets where it can deliver high-value customer solutions
GofM Energy Hub: LNG Exports to India Planned
United LNG, LP and Petronet LNG Limited, India's largest LNG importer, agree to supply LNG from the Main Pass Energy Hub™ project in the Gulf of Mexico. The (conditional) agreement was signed by Petronet LNG Managing Director & CEO, Dr. A.K
U.K. Offshore Wind Farm J/V Awards £15m in contracts
Joint venture partners in the East Anglia Offshore Wind Zone, Vattenfall & ScottishPower Renewables, support local sub-contractors. Vattenfall and ScottishPower Renewables, joint venture partners behind the East Anglia Offshore Wind Zone
KPI Appoints Vice CEO and New Managing Director
KPI Bridge Oil, a global broker and trader in marine bunkers, marine lubricants and risk management products, appointed Rob Atkinson as Vice CEO for the group and Jesper Rasmussen as Managing Director for its North American operations. Rob Atkinson has held a senior position in the company
U.K.'s New Aircraft Carriers Get Babcock IWMS
Babcock delivers final Integrated Waste Management System (IWMS) component for UK’s new Queen Elizabeth-class aircraft carriers. The Babcock-designed IWMS handles the various fluid and solid waste streams generated onboard the aircraft carriers and processes these until the products are
New, New York Harbor Current Meter
NOAA uses data from a new current meter in New York harbor operated by New Jersey’s Stevens Institute of Technology. The system provides enhanced real-time information to mariners travelling through the nation’s second busiest port.
Tata Steel Showcases Deepwater Pipeline Solutions at OTC
Tata Steel will demonstrate at this year’s Offshore Technology Conference (OTC) in Houston May 6-9, 2013. Tata Steel’s pipeline packages include double submerged arc welded (DSAW) line pipe, manufactured at the 42-inch mill in Hartlepool
Amber Coast Logistics Challenge Cross-border Mindsets
The Amber Coast Logistics project brings together 19 project partners from Belarus, Denmark, Germany, Latvia, Lithuania and Poland, as well as another 25 associated partners. Founded with EU support, the project is designed to strengthen and exploit the existing potential of the transport and
Boston to Host AVEVA World Summit 2013
AVEVA announced that the AVEVA World Summit 2013 is being held from October 30 to November 1 in Boston, Massachusetts, U.S. Customers from across the world’s process plant, power and marine industries are invited to the Summit
AlliedBarton Enters 10-year Partnership with PortStar
PortStar announces a 10-year National Partner License Agreement with AlliedBarton Security Services, the industry’s premier provider of highly trained security personnel, for use of its Seaport Security Training System. This agreement gives AlliedBarton access to the PORTSTAR Seaport
Rolls-Royce Hits Century in Drillship Propulsion Orders
Rolls-Royce's milestone 100th contract is to deliver drillship propulsion systems to a Transocean rig. In recent months Rolls-Royce has won orders to supply propulsion systems for seven new drillships totaling close to £100 million, including options
Golden Pass Announce Agreement to Export Gas to U.K.
Golden Pass Products LLC (GPP) affiliates Qatar Petroleum International (QPI) and ExxonMobil signed a framework agreement for the proposed liquefaction project at the Sabine Pass, Texas terminal. The agreement establishes a commercial framework to sell up to the full 15