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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


Capital Product Partners L.P. Announces One Year Time Charter

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.


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


Houston LPG Terminal Capacity to be Expanded

Houston Ship Channel: Photo CCL

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.


U.S. Firm sells Condensate to Mitsubishi

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 Taps Christodoulou as CEO, CFO

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


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


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


World Wide Metric Offers Hatch Sealing Tape

DrySeal Tape

World Wide Metric added DrySeal Hatch Sealing Tape to its products list after partnering with Soprema, a manufacturer in the waterproofing industry. DrySeal is an adhesive “winter grade” hatch sealing tape manufactured in Canada from SBS Modified Bitumen, making the product water resistant, elastomeric and durable with cutting edge technology. According to World Wide Metric, the tape provides a solution for waterproofing a ship’s hatch covers and ensuring that valuable


LNG-fuelled Ultra-Large Container Ships of the Future

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'


Buckeye Pipeline Quietly Makes Key Acquisition

Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse. But the acquisition that may best symbolize its evolution is one the company didn't tout to


TESSCO Installs Chesapeake Bay Police Boat Video System

Chesapeake Bay: File photo CCL

Leading networking company, TESSCO Technologies Incorporated, informs it has worked closely with the Maryland Department of Natural Resources (DNR) to successfully implement, for the first time, real-time video streaming from police boats monitoring Chesapeake Bay


Transas Simulators Boosts Western Shipping Training Center

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Transas Marine Pacific has successfully completed the upgrade of a simulator complex for Western Shipping Pte. Ltd. training center. The simulator class was upgraded to the latest version of the Transas navigational simulator NTPRO 5000 to fully support ECDIS training as per STCW 2010


Lilaas Engages Imtra for N. American Distribution

Lilaas Managing Director Øyvind Lilaas (left) and Alex Larsen, Imtra VP Commercial Sales, shake hands on the deal that is expected to open up the North American market to Lilaas controls

  Strong prospects in the North American marine equipment market have triggered a new importation and distribution agreement between control specialist Lilaas AS and well-known marine and offshore sales and support organization Imtra Corporation, of New Bedford, MA.


Wärtsilä Wins Its Largest Single BWMS Order

44 Wärtsilä AQUARIUS UV Ballast Water Management Systems will be installed on 22 bulk carriers being built for Pioneer Marine, Singapore.

A total of 22 bulk carriers, being built by Yangzhou Guoyu Shipbuilding Co. Ltd in China for Singapore based Pioneer Marine, will feature Wärtsilä Ballast Water Management Systems (BWMS). The Wärtsilä systems will enable the vessels to comply fully with the IMO's ballast water


Keep it Clean & Green

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When dealing with oil and other hazardous contaminants on vessels and in marine facilities, there are some common misconceptions about the way hydrocarbons biodegrade. “The words biodegrade and bioremediate are not interchangeable,” said Jay H


ESAB Boasts Over a Century of Technological Innovation

ESAB boasts more than a century of technological innovation

  September 2014 marks the 110th anniversary of ESAB Welding & Cutting Products. A world leader in welding and cutting technology, with the broadest, most complete line of products and solutions for industry, ESAB’s reach extends to almost every nation in the world, with more than 8


Ceremony Marks the Construction of 5 American Tankers

APT 1 Start of Construction Ceremony

  General Dynamics NASSCO and City of San Diego Mayor Kevin Faulconer today signaled the start of construction of five American Petroleum Tankers at a steel cutting ceremony for the first tanker, the APT-1, at the NASSCO shipyard in San Diego.


Rickmers' Fleet Equipped with Bluetracker

Photo courtesy of Interschalt

Long-term efficiency gains for the fleet on account of data capture and analysis on board and onshore. Declaration of intent signed at the SMM.   Rickmers Shipmanagement and Interschalt signed a declaration of intent at the SMM for the installation of Bluetracker


MN 100: Total Lubmarine

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Le Diamant B – 16, rue de la République 92922 Paris-La-Défense Cedex, France E-mail: rm.total-lubmarine@total.com Web: www.lubmarine.com The Company: Total Lubmarine is a global business unit of the oil major Total Group specialized and dedicated to marine lubricants and


MN 100: Thordon Bearings Inc.

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3225 Mainway Burlington, State ON Canada L9C5J8 Tel: (905) 335-1440   Email: craigc@thordonbearings.com  Website: www.thordonbearings.com President & CEO: Terry McGowan The Company: Thordon Bearings Inc. designs and manufactures a complete range of polymer bearing


Technip Signs Contract for Refinery Units in Bahrain

Refining facility Courtesy: Technip

  Technip was awarded by The Bahrain Petroleum Company (BAPCO) a significant (1) contract on a reimbursable basis to develop the Front-End Engineering Design (FEED) of the refinery located in the Kingdom of Bahrain. The FEED contract covers four main work packages that include units aimed


Technip Further Optimizes its Subsea Assets

Proceeds from this divestment will be partially reinvested directly into Technips Subsea business

  Technip signed today an agreement to sell 100% of its North American diving assets to Ranger Offshore Inc.(1). Technip’s strategy focuses on high technology and ultra-deep water products and services. Proceeds from this divestment will be partially reinvested directly into


Maritime Academy Awarded DHS Grant for Arctic Training

USCG photo

Maine Maritime Academy receives $450,000 grant From U.S. Department of Homeland Security for ice navigation and maritime first responder courses for the Arctic Maine Maritime Academy has been awarded $450,000 by the U. S. Department of Homeland Security (DHS) Science & Technology


Greek Owners CPP Charter Out Three Tankships

MT Avax: Image courtesy of CPP

Capital Product Partners L.P. (CPP) an international diversified shipping company, says it has secured time charter employment for the M/T ‘Avax’, M/T ‘Agisilaos’ and M/T ‘Alkiviadis’. M/T ‘Alkiviadis’ (36,760 dwt






 
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