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Borealis News

20 May 2022

CIP Proposes to Build Hydrogen Island in Danish Dogger Bank Area

Hydrogen - ŠCorona Borealis/AdobeStock

Copenhagen Infrastructure Partners (CIP) has proposed to construct an artificial island dedicated to large-scale production of green hydrogen from offshore wind – called "BrintØ" - in the Danish part of the North Sea. According to CIP, one of the world’s largest dedicated fund managers within greenfield renewable energy investments, the Hydrogen Island is expected to be able to produce one million tons of green hydrogen per year once fully built and will thus be "a crucial step…

29 Jul 2021

Borealis Finance Sells 10 Container Ships for $203,5M

Oslo-listed Borealis Finance said Thursday it had sold 10 container ships for $203,550,000 in total and that it had informed Nordic Trustee it would prepay $188,000,000 outstanding under its Bond Issue.The company did not say who the buyers were but said the vessels were on Thursday delivered to new owners. It is possible that the buyer is Global Ship Lease, as Borealis in June said it had agreed to sell twelve container vessels to Global Ship Lease, Inc. for a total consideration of $233.89 million. Borealis at the time said the delivery of the vessels was scheduled for the 3rd quarter of 2021, and that following a successful delivery of the vessels, the company was contemplating a repayment of the outstanding bond.

16 Jul 2021

Borealis Finance Sells Containership for $16,4M

Borealis Finance, a company that owns a fleet of bulk and container vessels, has sold one of its containerships.The Oslo-listed firm said Thursday that the 2,824 TEU containership Bomar Bellini had been sold for $16,4 million."The vessel was today successfully delivered to new owners," Borealis Finance said, without disclosing the name of the buyer.The vessel was built in 2007 by Hyundai Mipo. It was previously known as Santa Bettina and Cap Byron.Data from VesselsValue suggest that the vessel has been sold to Global Ship Lease, and also that its new name is Matson Molokai. According to AIS, the vessel is currently in Long Beach, California…

28 Dec 2020

ZPMC Launches JSD 6000 Deepwater Heavy-lift Pipelay Vessel

Credit: Ulstein

China's ZPMC has launched the Ulstein-designed JSD 6000 deepwater heavy-lift pipelay vessel at its facilities at Qidong. According to information shared by Ulstein via social media, the JSD 6000 was launched Sunday, December 27. The dynamically-positioned ‘JSD 6000’ is will feature heavy lift, S-Lay, and J-Lay via large, off-center moonpool capabilities, allowing it to serve deepwater and SURF markets as well as shallow water EPCI projects. The Ulstein designed vessel features an NOV revolving main crane with 5…

08 Dec 2020

Borealis Acquires Elbsun Containership

Borealis Finance, an Oslo-listed company indirectly owning a fleet of container and bulk vessels, has expanded its fleet.In a stock exchange filing on Tuesday, Borealis Finance said it had acquired the 2012-built, 3,600 TEU containership Elbsun.Borealis Finance paid $11,6 million for the containership. "The company completed the successful delivery and adds the containership to its fleet," Borealis Finance said, without providing further details.According to VesselsValue, the 240 meters long vessel was previously known under the names Lilly Schulte and Niledutch Rhino.  The vessel was previously owned by USC Group, based in Germany.AIS data shows the Elbsun is currently at anchor in Gibraltar.

23 Dec 2019

Antwerp Port Achieves Record for 7th Year

The Port of Antwerp has seen significant growth for the seventh year in a row, with freight volume up 1.3% to 238 million tonnes. Although some segments are under pressure, the port says it is making progress both economically and in sustainability and mobility.Container freight, in particular, gained market share (up from 27.5% to 28.2%), while the dry bulk segment for its part saw its total volume expand by 3.4%.In breakbulk on the other hand, with steel as the main product, the consequences of turbulence in world were clearly felt, resulting in an overall contraction of 13%.In the liquid bulk segment too the volume was down, by 4.4%…

25 Oct 2019

Viking Supply Ships Scoops PSV Pair

(Image: Wärtsilä)

Swedish-based Viking Supply Ships (VSS) in partnership with funds managed by Borealis Maritime, has entered into a contract to purchase two platform supply vessels (PSV) currently under construction. In addition to the partial ownership, VSS has been awarded full operational and commercial management of the vessels, the company said.VSS did not reveal specific transaction details, but said the pair has been acquired at a significant discount compared to original contract price…

10 Oct 2019

Ocean Yield Buys Ethylene Gas Carrier

Norwegian shipowner Ocean Yield ASA has agreed to acquire Navigator Aurora, a 37,300 cbm ethylene gas carrier owned by Navigator Gas.According to agreement, the ship will be purchased for a total consideration of USD 69.75 million net of a seller’s credit, with a 13-year bareboat charter to a company 100% owned and guaranteed by Navigator Holdings - Navigator Gas.The vessel is expected to be delivered to the Company during October 2019. Navigator Gas has certain options to acquire the vessel during the charter period. The transaction is subject to final documentation.The vessel, Navigator Aurora, is a 37,300 cbm ethylene gas carrier that was built in 2016.

24 Jan 2019

GAC Pushes Further into Arctic

GAC Norway opens new Arctic Circle branch at Tromsø in response to growing demand, said the company.Sitting 300km north of the Arctic Circle, Tromsø is the largest urban area in Northern Norway and serves as a portal to the Arctic. It is a popular port of call for cruise vessels, including those specialising in winter tours to treat their passengers to spectacular views of the Northern Lights (Aurora Borealis).Tromsø is also growing in popularity as a base port for the oil & gas and offshore industries.In the past two years, GAC has seen a significant increase in activity at the port, following the signing of two new cruise contracts.

01 Jan 2019

Another Record Year for Port of Antwerp

With expected growth of 5.1% compared with last year, 2018 looks set to be a record year for the Port of Antwerp for the sixth time in a row."In 2019 the Port Authority will keep to the same course, further building a sustainable future for the port. In pursuit of this goal it is concentrating heavily on structural solutions to challenges such as mobility, the energy transition, digitisation and innovation," said a press release from the port authority.The expected total freight volume in 2018 comes to 235 million tonnes, a new record, with unparalleled growth in all types of cargo. The large expansion in container freight continues, reaching 130 million tonnes (up 5.8%) or 11 million TEU (up 5.5%).

24 Oct 2018

Antwerp Port on Track to Sixth Record Year

Throughput continues to register growth in the Port of Antwerp. After record semi-annual figures, the total throughput after nine months stands at 177,026,550 tonnes – a sharp 6% increase compared with the same period last year.A press release from the company said that with these results, the port seems to be on track for the sixth record year in a row. The recent wave of investments moreover confirms the port’s appeal and reaffirms its role as a world player.Container traffic registered robust growth yet again, up by 7.1%  (98,436,773 tonnes) compared with the first nine months of 2017. In terms of Twenty-foot Equivalent Units (TEUs)…

12 Oct 2018

Antwerp Port on Track to Record Sixth Year

Belgian port Antwerp said that throughput continues to register growth in the port. After record semi-annual figures, the total throughput after nine months stands at 177,026,550 tonnes – a sharp 6% increase compared with the same period last year.With these results, the port seems to be on track for the sixth record year in a row. The recent wave of investments moreover confirms the port’s appeal and reaffirms its role as a world player.Maritime throughput continues to grow. Container traffic registered robust growth yet again, up by 7.1%  (98,436,773 tonnes) compared with the first nine months of 2017. In terms of Twenty-foot Equivalent Units (TEUs)…

09 Oct 2018

Borealis to Invest in Port of Antwerp

The Austrian petrochemical company Borealis has announced that it is to build a new production plant on its existing site in Kallo, in the Antwerp port area.According to a press release, the propane dehydrogenation (PDH) plant will use the very latest technology in terms of sustainable production and energy efficiency. With this initiative the port of Antwerp confirms and reinforces its role as the largest chemical cluster in Europe.The intention to build a new PDH plant to convert propane into propylene has been known for some time. The propylene in turn can be used to make polypropylene, a plastic with many applications which is employed in among others the car industry.Borealis has now decided to build this new plant at the existing Borealis production site in Kallo.

24 Aug 2018

World First: Navigator Aurora Converted to Run on Ethane Fuel

Image courtesy of Navigator

The recent conversion of a slow-speed marine diesel engine to operate on Ethane as a fuel marks a world first.Navigator Gas, in partnership with Charterer Borealis, engine manufacturer MAN Energy Solutions, cargo system and fuel gas supply system supplier TGE and ABS, has completed the successful conversion of the Navigator Aurora’s main engine from LNG fueling to Ethane fueling, while berthed alongside at Frederikshavn in Denmark.“This is the latest example of how ABS is collaborating…

23 Mar 2018

NOVA Chemicals, Energy Transfer JV for Ethylene Export Terminal

NOVA Chemicals Corporation announced that its subsidiary, NOVA Chemicals Olefins, and a subsidiary of Energy Transfer Partners, Sunoco Partners Marketing & Terminals (SPMT), have entered into a non-binding memorandum of understanding regarding a potential joint venture to develop an ethylene export terminal to be located on the United States' Gulf Coast. The parties will seek market commitment for an anticipated start-up of the terminal by mid-2020. The terminal is expected to have the capability to export 800 kta (1.8 billion pounds) per year of ethylene to the global market. "An ethylene export terminal builds upon NOVA Chemicals' leadership position in the continually expanding North American ethylene industry…

12 Mar 2018

Amver Tanker Rescues Sailors near Honduras

Chemical tanker Nordic Wolverine rescued two sailors from a disabled 55-foot sailboat approximately 210 miles east of Costa de Mosquitos, Honduras on Thursday, February 22, 2018. U.S. Coast Guard rescue personnel at the Seventh District command center received a report from rescue authorities in Panama of the disabled sailboat and shared Amver surface picture information with them. The Amver participating Norwegian-flagged tanker was identified and agreed to divert and search for the sailboat. "We have passed through the distress position and have made radio call outs on channel 16 but have found nothing," reported the captain of the Nordic Wolverine. "We intend to continue on our voyage to Houston," the ship's captain added.

26 Feb 2018

EU Mergers and Acquisitions

Š mybaitshop/Adobe Stock

The following are mergers under review by the European Commission that could be of interest to the global maritime and energy communities. -- Austrian company Borealis, Canada's Nova Chemicals and French oil and gas major Total to set up a joint venture (notified Feb. -- British turnaround specialist Melrose Industries to acquire British engineering company GKN (notified Feb. -- German steel company ELG Haniel and and Spanish peer Iberinox 88 SA to set up a joint venture (notified Feb.

02 Jan 2018

Crystal Nordic Sold to Essberger Tankers

Nordic Tankers and Embarcadero Maritime (a joint venture between Borealis Maritime and KKR) have signed and closed an agreement to sell the jointly held company Crystal Nordic to John T. Essberger in Hamburg, a leading owner and operator of chemical tankers in Europe. Crystal Nordic was established following the combination of Nordic Tankers’ inter-European stainless steel chemical tanker business with Crystal Pool in 2015. The parties have agreed not to disclose any financial information. Crystal Nordic is a Danish headquartered chemical tanker operator, owning 14 ships between 4,000 and 12,000 DWT, serving customers primarily in Northern Europe.

10 Feb 2017

Finland Has an Icebreaker Emoji

Image: thisisFinland

A true leader in terms of Arctic shipping, Finland produces two-thirds of the world’s icebreaking ships. Now the country is honoring its Arctic shipbuilding prowess in emoji form. In addition to the icebreaker, other Finnish emojis in the set include a Nokia phone, the Aurora Borealis, a rocking “headbanger”, a sauna scene and “woolly socks”. Check them out here.

01 Sep 2016

ABS Classes World’s Largest LNG Powered Ethane Carrier

ABS, a provider of classification and technical services to the global marine and offshore industries,has confirmed that the ABS-classed Navigator Aurora, the world’s largest ethane/ethylene capable liquefied gas carrier, has been delivered to Navigator Gas by Jiangnan Shipyard in Shanghai, China. The Navigator Aurora is the first of four Navigator Gas ethane/ethylene midsize vessels to be delivered with ABS Class during 2016 and early 2017. It has a cargo carrying capacity in excess of 37,000 cbm and is fitted with dual fuel engines that enable the ship to operate on either diesel fuel or LNG, making it capable of meeting the most stringent current and future air emissions requirements.

04 Jan 2016

Subsea 7 Secures Contract Offshore Egypt

Rockwater 2 (Photo: Subsea 7)

Offshore services provider Subsea 7 S.A. announced today it has been awarded a contract from Burullus Gas Company S.A.E. for the platform extension and tie-in on the first phase of the West Nile Delta development of the Taurus and Libra fields by BP, offshore Egypt. Subsea 7 did not specify a precise contract value, but called the award “sizable” in the range of $50 million to $150 million. Subsea 7 said engineering and project management work will commence immediately and will be undertaken at its Cairo office and Global Projects Center in London.

10 Nov 2015

Nordic Tankers joins forces with Borealis Maritime

Nordic Tankers and Borealis Maritime Ltd has announced the intention to form a jointly held company, Crystal Nordic A/S – a strong player in the short-sea, ice class chemical tanker trade in the Baltic and North-Western European market. Crystal Nordic A/S will be owned on a 50/50 basis by Nordic Tankers and Embarcadero Maritime (Borealis Maritime). The new company will take over the respective ice classed stainless chemical tankers businesses from its owners, which currently operate under the Nordic Tankers and Crystal Pool trade names. All other Nordic Tankers and Borealis Maritime operations and ventures are unaffected by the new partnership.

02 Sep 2015

Subsea 7 Bags $150 million Offshore UK Contract Maersk

Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea. The ultra-high pressure, high temperature field, one of the largest gas discoveries offshore UK, is located in Block 22/25 of the Central North Sea at a water depth of approximately 90 m. The contract scope includes project management, engineering, procurement, construction and installation of a 22-in. diameter, 52-km gas export pipeline connected to the Central Area Transmission System (CATS), and a 3.6-km pipe-in-pipe (10-in. outer pipe and 6-in. inner pipe) providing insulation for the transportation of the condensate to the in-field Floating, Storage and Offloading facility (FSO).