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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


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


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.


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


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


"We Need to Talk About the Jones Act ..."

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This is an open letter to the offshore oil and gas industry operating on the outer continental shelf. Dear Customer: We need to talk about the Jones Act and the other cabotage laws that require you to use U.S.-flag vessels to transport cargo and people from one part of to another.  You already know that, as the association that represents the owners and operators of flag workboats, we are willing to fight to protect the Jones Act


Wind Power Seen Surging as Custom Barges Cut Cost

Offshore wind-power producers from Dong Energy A/S to RWE AG are building custom ships at record rates to reduce the cost of the technology which is  three times as pricey as electricity from coal plants. As many as 20 vessels, some with movable legs which reach the seafloor, will come onto the market in the next few years, reducing chartering costs of as much as 200,000 euros ($261,000) a day, said Marc Seidel, an offshore engineer at Suzlon Energy Ltd


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


Landmark STS LNG Transfer Achieved

Image: STS LNG Transfer (courtesy Exelerate Energy)

Excelerate Energy Performs 700th Ship-to-Ship Transfer of LNG.   Excelerate Energy L.P. (Excelerate) completed its 700th commercial Ship-to-Ship (STS) transfer of LNG on January 7, 2015 in Escobar, Argentina at the GNL Escobar LNG import facility. Using Excelerate Energy's regasification vessel, EXEMPLAR and the conventional LNG carrier CADIZ KNUTSEN, 73,778 cubic meters of LNG were transferred using the double-banked LNG transfer system


Voyager IP Launches Prepaid VSAT and IT Scheme

A new scheme by marine broadband solutions company Voyager IP aims to alter the way customers can keep track of their VSAT and IT support services.   The Irish-based company has launched a points-based system where customers will be able to purchase service and support credits in advance


ICS Publishes Flag State Performance Table

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The International Chamber of Shipping (ICS) has published its Shipping Industry Flag State Performance Table for 2015/2016, which can be downloaded free of charge via the ICS website. The ICS Table provides an annual overview of the performance of the world’s ship registers against a


Noncompliant Cargo Ship Banned from Australia

The 86-meter general cargo ship Noah Satu has been prohibited from entering or using any Australian ports for the second time in less than 12 months, following another round of safety, environmental and regulatory infractions. The direction was issued by the Australian Maritime Safety Authority


Great Lakes Shippers Set Top Priorities

North America’s largest mining, manufacturing and agricultural companies have helped identify four top priorities to improve the competitiveness of Great Lakes shipping, and as a result, the prosperity of the entire region.   These priorities will be the Chamber of Marine


ABS Publishes CyberSafety Guidance

ABS has published Guidance Notes on the Application of Cybersecurity Principles to Marine and Offshore Operations.   This cybersecurity guidance note is the first volume in the ABS CyberSafety series, and provides best practices for cybersecurity as a foundational element of overall safety


HamiltonJet Debuts JETanchor Positioning System

Global waterjet manufacturer HamiltonJet has launched its latest vessel positioning system, JETanchor.   Developed from the blueARROW controls platform JETanchor is the newest addition to the HamiltonJet controls’ product range, developed and tested over the past 18 months


Shipping Traffic Noise Severely Affects Whale Populations

Photo: Courtesy beamreach.org

 Underwater sound pollution disrupts the communication methods of killer whales and could harm their ability to locate salmon, researchers have found.   Increasing ship traffic is raising the level of underwater pollution and threatening a range of endangered marine species. 


Norbulk Selects Parker Kittiwake’s Cat Fines Test Kit

Parker Kittiwake Cat Fines Test Kit for Norbulk Photo Norbulk

Parker Kittiwake, a leading global supplier of asset control and protection technology, has today announced a significant order of its recently launched Cat Fines Test Kit from leading ship management company, Norbulk Shipping. The contract was awarded to Parker Kittiwake following a competitive


FSL Trust Divests Two Containerships

FSL Trust Management Pte. Ltd., as the trustee-manager of First Ship Lease Trus, announced that the Trust has completed the disposal of Ever Radiant and Ever Respect for a cash consideration of approximately $10,800,000. Ever Radiant and Ever Respect are Japanese-built, 4


Cosco Merger May Change Industry Dynamics

Image: China Shipping group

 The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ.   The merger will free the two Chinese shipping groups from competing


New Offshore Vessel to be Fitted with Cathelco BWTS

Photo: Cathelco Group

Cathelco is supplying a ballast water treatment (BWT) system for a new offshore vessel built by Eastern Shipbuilding Group Inc., for Harvey Gulf International Marine, LLC. The Harvey Stone (Hull 234), a Rampage 6400 multipurpose field support vessel (MPFSV), with a length of 64


Australian Navy Commissions HMAS Adelaide

Australia’s second Landing Helicopter Dock (LHD) ship, HMAS Adelaide, arriving at its new home at Fleet Base East Garden Island, Sydney. (Photo courtesy of the RAN)

Royal Australian Navy commissions second LHD HMAS Adelaide powered by GE LM2500 marine gas turbines   GE Marine reports that its LM2500 gas turbines now power the Royal Australian Navy’s HMAS Adelaide which was commissioned in late 2015


Subchapter M: The Designated Person Ashore and You

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As the workboat industry marches toward Subchapter M, and ever closer to the International Safety Management (ISM) Code, the appointment of a Designated Person Ashore (DPA) becomes more important, the position’s job functions become more defined


Limit Exposure with the Uniform Commercial Code

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Demanding assurance pursuant to the UCC may save you from sinking on someone else’s ship. Vessel operations require a large network of companies that come together to keep the entire business chain – including yours – running smoothly


Elbit Systems Introduces Seagull

Seagull USV (Image: Elbit Systems)

Israel’s Elbit Systems unveiled a prototype of what it claims is the world’s first unmanned system for anti-submarine warfare (ASW) missions.   Developed in less than three years with technical and performance input from the Israeli Navy and Israel’s Ministry of Defense






 
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