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Used Vessels

Stolt-Nielsen to Buy 3 Used Tanker Ships

The AP has reported that Stolt-Nielsen SA is buying three used tanker ships for about $40 million. The company said its wholly owned subsidiary, Stolt-Nielsen Transportation Group, has exercised an option to purchase the tankers, currently on charter, from Montana Ship Holding AS. According to Stolt-Nielsen, it chartered the ships in December 2001 with an option to buy at any time. The company said the three ships are to be converted at a cost of $7.5 million to meet new safety regulations that will take effect Jan. 1 next year. Stolt-Nielsen said it anticipates the ships will allow it take advantage of growth prospects for the parcel tanker market. It also said the used vessels will help it save money since the cost of shipbuilding is at historic highs. American depositary shares of Stolt-Nielsen fell 55 cents to $31.20 in afternoon trading on the Nasdaq.


Planned Tanker Age Curbs Seen As Insufficient

Age limits being imposed on tanker chartering by oil companies do not address the use of ships like the Erika, which broke up off France in December, shipping industry sources said. Companies are opting not to use large vessels, above either 80,000 or 100,000 dwt, more than 20 years old unless they have extra safety certificates. However, the age limit is higher for smaller tankers - at 25 years - partly because there are not enough newer ships


McDermott Awarded Two Saudi Aramco Contracts

McDermott International, Inc subsidiary awarded two projects for Saudi Aramco in the Arabian Gulf in the Karan, Safaniya and Zuluf fields The first project, Karan-45, comprises fabrication of a new wellhead platform, auxiliary platform, jacket and link bridge, with subsea installation of a 20-inch flowline and a 15kV composite power and fiber optic cable. Project management, engineering and procurement will be undertaken at McDermott’s engineering office in Al-Khobar, Saudi Arabia


SCA: Tanker Rates Justify Higher Construction Prices

The vessel retirement schedule in the Oil Pollution Act of 1990 will force retirement over the next five years of at least 12 U.S.-flag product tankers totaling almost 500,000 dwt of capacity (approximately 25 percent of the total U.S.-flag product tanker fleet) and over 50 U.S.-flag tank barges greater than 5,000 gross tons totaling over 1,000,000 dwt of capacity (approximately 45 percent of the total U.S.-flag ocean-going tank barge fleet greater than 5,000 gross tons). The struggling


MPA Launches Videotel's Training for Safe Navigation in Singapore Strait

Safe Passage in The Singapore Strait

The Maritime and Port Authority of Singapore (MPA) has released a training programme, produced by Videotel, a KVH company, to encourage safe navigation in the Singapore Strait. Carrying an estimated one third of the world’s traded goods, the Singapore Strait is one of  world’s busiest shipping lanes  the world’s busiest shipping lanes. Recent projections show that maritime traffic is set to increase significantly along this narrow waterway, which


Obituary: David Parrot, Founder and Former Chief, TITAN Salvage

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David Gray Parrot, 65, founder and former chief of TITAN Salvage, passed away in Maine in the comfort of family and friends. Parrot is survived by his wife Penny, sons Hunter and Gage, and a network of friends and family.  A private family service is scheduled for this weekend in Maine. "On behalf of the entire Crowley organization, I extend my deepest sympathies and condolences to David's family, friends and colleagues," said Tom Crowley, Jr


Effectively Assessing Your Risks

One of the greatest challenges facing a lender in the maritime industry is appropriate assessment of risk. In this exciting, varied and vibrant industry, a lender's effective risk assessment requires a thorough understanding of the vagaries that characterize the industry. Many of the companies have been in business for 100 years or more. They have a long family history associated with the sea that has charted their economic destiny for decades.


Damen Trading Delivers Several Vessels

Photo: Damen

Trading in preowned vessels continues to be a popular choice for many customers. Damen Trading facilitates the sale and purchase of both Damen and third-party vessels. Recent deals highlight how trading in vessels results in a win-win situation for buyer and seller.  Under these arrangements vessels have been sold in Australia and bought by clients in Uruguay, U.K. vessels have gone to Zanzibar, Colombian vessels to Jamaica, with customers worldwide seeing the benefits of trading in


Workboat Comms: Controlling Connectivity Costs

Steve Burke (Photo: Bluetide Communications)

Bluetide Communications’ Access Management Portal (AMP) application for wireless network management is changing the way workboat operators manage data, crew and costs.    Thousands of miles, and weeks or months out at sea, the next best thing to physically being there, is an electronic connection home, and today, mariners increasingly are reluctant to board vessels without access to some form of it. “What seafarers want overwhelmingly is a cost-effective way to speak to


Coal's Cost Advantage over LNG Slipping

file image: a ttypical bulk carrier at sea (Credit: BSM)

Thermal coal has been one of the commodity success stories this year, but there is a risk that it becomes a victim of its own success by eating into its advantage over liquefied natural gas (LNG) in generating electricity. The benchmark Australian thermal coal price, the Newcastle Index, rose to $70.76 a tonne in the week to Sept. 16, its highest in 18 months and taking its gain since the start of the year to almost 40 percent.


New Deck Lifter Helps Reduce Cargo Hold Waste

Photo: TTS Marine AB

A patent pending movable deck lifter, TTS Intelligent Movable Deck Lifter (IMDL), developed by TTS aims to help reduce waste volumes onboard PCTC vessels (Pure Car Truck Carriers) due to new and improved technique.   A  traditional deck lifter has a centered contact point


Vard Wins Two Ferries Contract from Torghatten Nord

Ferries for Torghatten Nord - Picture Multi-Maritime Photo VARD

Vard Holdings Limited (“VARD”)secured contracts for the construction of two LNG powered car- and passenger ferries for Torghatten Nord in Norway. The total contract value amounts to approximately NOK 600 million. The new car- and passenger ferries are designed for environmentally


ABB Propulsion, Automation and Software for Five Cruise Ships

Photo: ABB

ABB will supply the complete power, propulsion and automation package for a series of new cruise vessels being built by MV WERFTEN for Genting Hong Kong brands Crystal Cruises and Star Cruises.   The three Crystal Cruises’ luxury “Endeavor Class” mega-yachts will feature a


Euronav Gets Credit Line of $ 410mln

Photo: Euronav NV

 Euronav NV announces has signed a new USD 410 million senior secured amortizing revolving credit facility.    The facility has been made available on 16 December 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital


Dryships to Expand into VLGC sector

The Table

DryShips Inc. announced today that, it has agreed to enter into a “zero cost” Option Agreement (“LPG Option Agreement”) with companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou, to purchase up to four high specifications Very Large Gas


Euronav Secures Loan for VLCC Refinancing

Photo courtesy Euronav NV

Tanker shipping company Euronav NV announced it has signed a new $410 million senior secured amortizing revolving credit facility. The facility has been made available on December 16, 2016 for the purpose of refinancing 11 vessels as well as Euronav’s general corporate and working capital


DryShips Expands to Gas Carrier Market with Four New VLGCs

Image: DryShips Inc.

 DryShips Inc. has agreed to enter into a "zero cost" LPG Option Agreement with companies controlled by its Chairman and Chief Executive Officer,  George Economou, to purchase up to four high specifications Very Large Gas Carriers (VLGC) capable of carrying liquefied petroleum


Fuel Catalyst Makes Engines More Efficient

Photo: Power Fuel Savers

More complete combustion means less fuel needed, as well as reduced maintenance and unscheduled downtime, cleaner injectors, cleaner piston crowns, cleaner firing tubes   Engines are designed to run on refinery grade fuel. At the time fuel is refined, it is at its purest state; however


All Eyes on 2020

(Photo: © scphoto48 / Adobe Stock)

IMO Low-Sulfur Fuel Mandate Triggers Mixed Reaction   The International Maritime Organization’s proposals to reduce sulfur levels in marine fuels to a maximum of 0.5 percent m/m (mass/mass) by 2020 may prove to be controversial, having met with various responses from major shipping


San Francisco’s New Fireboat is Like No Other

Image: Jensen Maritime Consultants

San Francisco’s Jensen-designed super pumping fireboat is like none that came before her. As a result, the City by the Bay is prepared like never before, for its next crisis.    Christened on October 17, appropriately enough on the anniversary of the 1989 Loma Prieta earthquake


LNG: Lagging, Not Gone

(Photo: Sanmar Shipyard)

Low energy prices, depressed day rates and slow growth of bunkering infrastructure has dampened progress for the marine industry’s ‘white knight’ of environmentally friendly fuels. LNG, nevertheless, is here to stay.    Slow Start


Cortland Australia Bags Singapore Contract

Photo: Cortland Australia

Engineered rope specialist Cortland Australia said it has secured a contract to supply Singapore’s ASL Shipyards with high performance Plasma 12x12 towlines for BHP Billiton Towage Services’s new fleet of six RAstar85 ASD escort tugs.  


Maersk, Alibaba Team up to offer Online Booking

File Image: A maersk vessel alongside working cargo (Maersk)

Maersk, the world's largest container shipping line, has teamed up with Alibaba to allow customers to reserve space on its vessels through the Chinese company, illustrating growing cooperation between e-commerce and logistics firms.  


Great Ships of 2016: Polaris

Polaris (Photo: Arctech Helsinki Shipyard)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. This year 18 ships in total were honored, including many “world firsts.”   Polaris - World’s First LNG-Powered Icebreaker


Changes In The Air For IMCA's eCMID

Richard Benzie (Photo: IMCA)

From January 2018 the International Marine Contractors Association’s (IMCA) will recognize only formal inspection reports conducted using its eCMID database, meaning that paper reports not uploaded into the database will no longer be considered by IMCA to be authorized inspection reports






 
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