Chemical Trades News

U.S. maritime companies Crowley and SEACOR Holdings' Seabulk Tankers have created a new joint venture that combines their liquid energy and chemical transportation vessels, operations and related services into a new, independent U.S. Jones Act service provider.The new company, Fairwater Holdings, will serve the U.S. domestic market with vessels and marine transportation solutions across the petroleum and chemical trades, as well as related third-party ship management services. It will include 20 oceangoing, articulated tug-barges (ATB) and 11 tankers, many under long-term charter.

Columbia Shipmanagement (CSM) announced it has partnered with Norwegian ship owner and operator Seatrans AS to form a ship management joint venture.The company will be named Stödig Ship Management AS will become operational from the beginning of May 2021, operating out of Seatrans’ offices in Bergen, Norway. All Seatrans’ staff will remain employed in the company.Mark O’Neil, president and CEO of CSM, said, “In Columbia Shipmanagement we recognize the particular expertise and skill sets associated with managing ships in the hard chemical trades and other special tonnage markets.

The inland waterway system, flowing through the United States heartland, is a microcosm of all that has been happening in 2020: trade tensions, infrastructure issues, shifting trends in fuel consumption and the pandemic that has gripped us since the winter months. Shortly after the initial coronavirus outbreak here in the U.S., maritime workers were deemed to be “essential”, paving the way for cargo flows to recover from their springtime nadir. As COVID-19 infections turned up on U.S. shores, the boats continued plying the waterways, albeit with reduced volumes in some cases.

Navig8 Chemical Tankers has signed sale and leaseback agreements with China's Bank of Communications Financial Leasing (BCFL) for a quartet of medium range tankers. The  for four 49,000 DWT Interline coated medium range tankers being built at STX Offshore & Shipbuilding Co., Ltd, Korea (STX). The four vessels from STX  have contractual delivery dates ranging from end March 2017 to end June 2017. Under the sale and leaseback agreements, BCFL will provide funding for pre-delivery as well as the delivery instalments for the STX Vessels. The net proceeds from the transaction (after a 12% sellers' credit) will be USD 140,025,600. The STX Vessels will be delivered to BCFL on their respective deliveries from STX.

Given the global strategic importance of keeping the international shipping lanes through the Gulf of Aden and Indian Ocean open, INTERTANKO calls on governments to step up their involvement and make it more effective. The tanker industry appreciates the efforts of the naval forces, that have been protecting international shipping in the Gulf of Aden and the Indian Ocean from Somali-based pirates, for their involvement and support, and acknowledges their impressive record in reducing successful pirate attacks in the Gulf of Aden in particular. In parallel, many ship owners, ship managers and seafarers have also been making sacrifices and commitments to keep the world’s energy and chemical trades flowing.

The Middle East has always been an important region for the tanker industry. Underpinned by strong oil prices, a recovering world economy and prospects of Iraqi reconstruction, the region is currently enjoying economic growth and increased activity. As the centre for OPEC oil production, numerous refineries and swelling chemical trades, the regional influence on world tanker markets is undisputed. Dubai is a regional hub and is fast becoming a global shipping and business centre. In September 2003 Dubai hosted the annual meetings of IMF and the World Bank, and the government has revealed ambitious plans to attract shipping companies to its fast growing Dubai Maritime City.