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Thursday, March 28, 2024
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Owned Subsidiary News

18 Mar 2024

Boskalis Wraps Up Moray West Offshore Wind Farm Ops

(Credit: Boskalis)

Dutch marine services firm Boskalis has completed its activities in support of the development of Ocean Winds’ 882 MW Moray West offshore wind farm in Scotland.As part of its multidisciplinary role in the project, Boskalis deployed six vessels to carry out large number of activities off the east coast of Scotland in the Moray Firth.First, Boskalis’ wholly-owned subsidiary Gardline carried out extensive geotechnical and geophysical survey works prior to the installation work.Then…

06 Mar 2024

MOL and Petrobras Sign Cargo Transfer Vessels Deals

Sealoader 2 (Credit: MOL)

Mitsui O.S.K. Lines (MOL) and Brazil’s state-owned energy giant Petrobras have signed a charter contract for cargo transfer vessel (CTV) SeaLoader 2, and agreed to start negotiations for a new CTV shipbuilding contract by the end of 2024.MOL signed the deal through its wholly owned subsidiary, SeaLoading Holding, which owns and operates CTVs.SeaLoading started a CTV agreement with Petrobras for SeaLoader 2 on a trial period in January 2022, and successfully completed more than 30 crude oil offloading operations from Petrobras' FPSOs located in the Santos Basin…

05 Mar 2024

MOL Signs Long-Term Charter with Tokyo Gas for LNG Carrier Newbuilding

Illustration (Credit: MOL)

Mitsui O.S.K. Lines (MOL) has signed a long-term charter contract for a newbuilding LNG carrier with Tokyo LNG Tanker (TLT), a wholly-owned subsidiary of Tokyo Gas.This is the eighth contract, following a time charter contract for seven LNG carriers that were signed for TLT.The 174,000-cbm ship will be 294.9 meters long, with the bread of 46.4 meters.The vessel will be built at the Geoje Shipyard of Hanwha Ocean in South Korea, and is scheduled for delivery in 2026.It will be…

03 Mar 2024

Esgian Week 9 Report: Dolphin, Diamond and Seadrill Updates

© AndSus / Adobe Stock

Esgian reports rig-related updates from Dolphin Drilling, Diamond Offshore, and Seadrill in its Week 9 Rig Analytics Market Roundup.Report Outline:ContractsDespite Tullow Oil’s recent announcement that it would take a break from drilling offshore Ghana, Noble Corp. has stated that there has been no contract termination announcement and that its 12,000-ft drillship Noble Venturer is currently still contracted to Tullow into March 2025.Masirah Oil Ltd has signed a rig contract with…

01 Mar 2024

Yara and ACME Sign Ammonia Supply Agreement

Source: Yara

Yara and GHC SAOC, a wholly owned subsidiary of India’s Acme Cleantech, have signed a binding agreement for the supply of ammonia with reduced CO2 emissions from Acme to Yara on a long-term basis.Both companies had previously signed a non-binding offtake Term Sheet and the current agreement concludes 18 months of negotiations during which the regulatory framework and certification regime have evolved significantly, creating a suitable environment for such long-term contracts.The long-term offtake agreement covers the supply of 100…

27 Feb 2024

Solstad Scoops $7M for Two AHTS Vessels

Far Scimitar AHTS (Credit: Solstad Offshore)

Norwegian vessel owner Solstad Offshore has sold two anchor handling tug supply (AHTS) vessels, securing a profit of approximately $7.1 million for the transaction.The AHTS vessels, Far Sound and Far Scimitar, have been in layup in Asia since 2016 and 2018.Fars Sound is a 2007-built AHTS, with the length of 78.1 meters and of UT 712 L design.Far Scimitar is of the same design, with 78.3 length. It was built in 2008.The sale was made through Solstad Reder, a wholly owned subsidiary of Solstad Maritime Holding.Delivery of the vessels to the new owner took place on February 23, 2024.

19 Feb 2024

Brassavola Completes Maiden Ship-to-Ship LNG Bunkering Operation

Brassavola vessel (Credit: Seatrium)

Pavilion Energy, the charterer of Singapore’s recently delivered first membrane LNG bunker vessel Brassavola, has concluded its first Ship-to-Ship (STS) LNG bunkering operation.Pavilion Energy said on February 19, 2024, the bunkering operation to Rio Tinto chartered dual-fueled bulk carrier, Mount Api was successfully completed.Brassavola was recently delivered by Seatrium, to owner Indah Singa Maritime, a wholly-owned subsidiary of Mitsui O.S.K Lines (MOL).Seatrium Delivers Singapore’s…

14 Feb 2024

Seatrium Renews Exclusive Deal with Gaslog and Shell for LGN Carrier Repairs

(Credit: Seatrium)

Singapore-based Seatrium has renewed its long-term favored customer contract (FCC) with GasLog LNG Services and Shell International Trading and Shipping Company (STASCO) to provide ship repairs, refurbishment and upgrading for their LNG carriers until 2029, with further renewal options.The contract marks a collaborative partnership between Seatrium and these two leading maritime companies with whom the Singaporean group has established a long history of collaboration.The contract involves the repairs…

02 Feb 2024

IWS to Provide CSOV Fleet for Siemens Gamesa Offshore Wind Projects

Credit: IWS

Integrated Wind Solutions (IWS) has, through its wholly-owned subsidiary IWS Fleet, entered into a frame term agreement with Siemens Gamesa to provide its commissioning service operation vessel (CSOV) fleet for offshore wind farms in North Europe.IWS Fleet will, under the agreement, provide the Skywalker-class walk-to-work CSOVs to support offshore turbine commissioning works across multiple Siemens Gamesa offshore projects in North Europe over a three-year period starting in 2025.The minimum commitment under the charter agreement covers about 1…

29 Jan 2024

Seatrium Delivers Singapore’s First Membrane LNG Bunker Vessel

Brassavola vessel (Credit: Seatrium)

Seatrium has delivered Brassavola, Singapore’s first membrane LNG bunker vessel built locally by the group, to owner Indah Singa Maritime, a wholly-owned subsidiary of Mitsui O.S.K Lines (MOL).Following delivery, Brassavola will be chartered by Pavilion Energy to supply LNG bunker in the Port of Singapore.The vessel, which is expected to start operations in February 2024, will also be deployed by TotalEnergies Marine Fuels to serve its customers under a long-term agreement with Pavilion Energy.Measuring 116.5 meters in length and 22 meters in width…

22 Jan 2024

Wallenius Wilhelmsen Signs Korean Customer and Acquires Two RoRo Ships

(Credit: Wallenius Wilhelmsen)

Wallenius Wilhelmsen, the world’s largest RoRo vessel operator, has signed a multi-year shipping contract with South Korea’s construction machinery company and taken delivery of two vessels.Through its 80% owned subsidiary EUKOR, Wallenius Wilhelmsen welcomed the 2009-built, 6,600 CEU Morning Camilla vessel following the declaration of a purchase option under the long-term charter-in agreement.The purchase price is $30 million, well below the assessed charter-free valuation of around $70 million…

09 Jan 2024

Diana Shipping Announces Continuation of Time Charter for Amphitrite

Source: Diana Shipping

Diana Shipping, a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Cobelfret S.A., Luxembourg, for one of its Post-Panamax dry bulk vessels, the Amphitrite.The gross charter rate is $12,250 per day for the first 30 days of the charter period and $15,000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties…

21 Dec 2023

OSG to Upgrade Engines on Its Alaska Class Tankers

(Photo: MAN Energy Solutions)

U.S. shipping company Overseas Shipholding Group announced it will upgrade all four vessels in its Alaskan Class fleet with new methanol-ready engines from MAN Energy Solutions.The vessels Alaskan Explorer, Alaskan Frontier, Alaskan Legend and Alaskan Navigator, all approaching 20 years in age, will receive significant engine and operational improvements, resulting in environmental benefits as well as extending their commercially useful life, OSG said.The lifecycle engine upgrades involve a series of technical and commercial enhancements…

13 Dec 2023

DOF Sells PSV Skandi Captain

(File photo: DOF Group)

DOF Rederi, a fully owned subsidiary of Norway's DOF Group, on Wednesday entered into an agreement to sell the 2004-built, medium-size platform supply vessel (PSV) Skandi Captain to an undisclosed international buyer.The vessel is slated to be handed over to its new owner in the first quarter of 2024. DOF did not reveal the sale price but said the sale will have a "positive accounting effect".The 74.3-meter-long Skandi Captain is a MT 6009-FSV design PSV built by Myklebust Verft in Norway.

05 Dec 2023

Management Change at German Dry Bulk Shipper

(from left to right) Pascal Rodius, Monique Hezel-Reyntjens, Florian Bleikamp.
Copyright: HGK Shipping GmbH

Monique Hezel-Reyntjens will retire effective December 31, 2023, having worked in and led what is now known as BeKa HGK GmbH for almost 42 years. Her parents, Franz Josef and Corrie Becker founded the dry shipping company in 1982. Monique Hezel-Reyntjenshas played a significant role in the success story at BeKa HGK; she worked in the chartering section from the outset and in the course of time became a shareholder and has been its managing director up to now. She will be succeeded by Florian Bleikamp (34)…

29 Nov 2023

Diana Shipping Announces Time Charter with K Line

Source: Diana Shipping

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Kawasaki Kisen Kaisha (K Line) for one of its Capesize dry bulk vessels, the New Orleans.The gross charter rate is US$20,000 per day, minus a 5% commission paid to third parties, for a period until minimum August 15, 2025 up to maximum October 31, 2025. The charter is expected to commence on December 7, 2023.The New Orleans is a 180,960dwt Capesize…

20 Nov 2023

Diana Lines Up Time Charter with Bunge

© Gudellaphoto / Adobe Stock

Dry bulk shipowner Diana Shipping on Monday announced that it has lined up a time charter contract with agribusiness Bunge for one of its Ultramax dry bulk vessels, DSI Andromed—a 60,309 dwt Ultramax dry bulk vessel built in Japan in 2016.The charter, which Diana entered through a separate wholly-owned subsidiary, is expected to commence on November 24, 2023.The gross charter rate is $13,500 per day, minus a 5% commission paid to third parties, for a period until minimum February 20…

17 Nov 2023

Seaspan Takes Delivery of New 15,500 TEU Vessel

(Photo: Seaspan Corporation)

Seaspan Corporation has taken delivery of Maersk Cleveland, the second of six new SAVER 15,500 TEU series vessels.The ship was delivered from China's Jiangnan Shipyard on November 15.Seaspan, a wholly owned subsidiary of Atlas Corp., announced contracts to build the six ships in March 2021 as part of a raft of new shipbuilding orders.Upon completion, each vessel will enter long-term charters with global liner customers.The series' first vessel, Maersk Charleston, was delivered earlier this year. The series' remaining ships are scheduled for delivery through mid-2024.

07 Nov 2023

New Hybrid-drive Tug is First on South America’s West Coast

(Photo: SCHOTTEL)

The PSA Wayra ASD tug will soon enter service for PSA Marine Peru, a wholly owned subsidiary of PSA Marine (Pte) Ltd, as the first tug with a hybrid drive system on South America’s west coast. Hong Kong-based Cheoy Lee Shipyards has built the PSA Wayra on the RAmparts 2400W design from Robert Allan Ltd. The tug is propelled by SCHOTTEL RudderPropellers featuring patented SYDRIVE-M technology. This mechanical hybrid solution without the costly complexity of common hybrid technology reduces both the vessel’s maintenance costs and its fuel consumption.

20 Oct 2023

BEMAC, Mitsui Ink Deal to Acquire The Switch

Permanent magnet machines. Image courtesy The Switch

BEMAC, as majority shareholder, together with Mitsui have entered into a share purchase agreement to acquire 100% of the shares of The Switch from Yaskawa Europe Holding AB (a wholly owned subsidiary of YASKAWA Electric Corporation).The Switch Engineering Oy and its group companies are manufacturers of permanent magnet machines (PMM), DC distribution solutions (DC-Hub), high-power AC drives (single drives) and high-speed induction motors.The Switch possesses technology in MW-class PMMs…

12 Oct 2023

OSG Buys Laid Up Jones Act Tanker from BP

U.S. shipping company Overseas Shipholding Group, Inc. (OSG) on Thursday announced it has reached an agreement with BP Oil Shipping Company to purchase the Jones Act compliant crude oil tanker Alaskan Frontier.Built by General Dynamics NASSCO in 2004, the 1.3-million-barrel capacity tanker is a sister to three other Alaskan Class vessels operated by OSG’s wholly owned subsidiary, Alaskan Tanker Company. It was part of Alaska Tanker Company's active fleet  until 2019 when the vessel was placed in cold lay-up in Labuan, Malaysia.OSG said it expects the transaction will be completed in early November. Afterward, the company intends to reactivate the tanker…

21 Sep 2023

BSG Acquires Maritime Software Company

"We are thrilled to announce the successful acquisition of Ripple," said Chad Mitchell, CEO of Bleecker Street Group. "The addition of Ripple's exceptional team, advanced software products and blue-chip customer base will significantly strengthen our position in the global maritime sector and position us for further growth and success."

Bleecker Street Group (BSG), a global software holding company, announced the acquisition of Ripple, an integrated maritime software company. The acquisition underscores BSG's commitment to the maritime sector, solidifying its position as an emerging force in the broader Supply Chain Software industry.Ripple has earned acclaim for its mission-critical solutions designed to address unique operating challenges faced by maritime, and it has a long client list in the sector delivering to tugboat…

11 Apr 2023

Diana Shipping Takes Delivery of 2016-built Ultramax

Dry bulk shipping company Diana Shipping announced it has taken delivery of a 2016-built Ultramax bulk carrier.Diana, through a separate wholly-owned subsidiary, had agreed to purchase the 63,379 dwt DSI Drammen (formerly Nord Potomac) in February 2023.The company also announced that, through the same wholly-owned subsidiary, it entered into a time charter contract with IMC Shipping Co. Pte. Ltd., at a gross charter rate of US$18,250 per day, minus a 5% commission paid to third parties, for a period until minimum April 10, 2024 up to maximum June 10, 2024. The charter is expected to commence on April 15, 2023.The employment of DSI Drammen is anticipated to generate approximately $6.5 million of gross revenue for the minimum scheduled period of the time charter, Diana said.