ExxonMobil Helps Extend Ship’s Piston Ring Life
Athens-based Costamare Shipping has more than tripled the piston ring replacement period to more than 55,000 hours for containership Cosco Yantian, helping the company reduce costs and improve vessel performance. According to ExxonMobil, the life extension was achieved by switching the container vessel to its Mobilgard 570 cylinder oil in combination with the MobilGard Cylinder Condition Monitoring (CCM) program. The expected piston overhaul interval for the Cosco Yantian’s MAN Diesel & Turbo 12K98MC MK7 engine was 16,000 hours of unmonitored operation. Following a consultation with ExxonMobil’s Field Engineers, it was suggested that the vessel operator introduce Mobilgard 570 and the MobilGard CCM program.
Container Shippers Join Forces for Safety
The Container Ship Safety Forum (CSSF) has been launched as a global business-to-business network that aims to improve safety performance and management practices in the container shipping industry. Founding members CMA CGM Group, Costamare Shipping Company S.A., E.R. Schiffahrt GmbH & Cie. KG, Hamburg Südamerikanische Dampfschiffahrts-Gesellschaft KG, Maersk Line, Rickmers Shipmanagement and Zodiac Maritime Agencies Ltd., have joined forces to improve safety performance through collaboration.
Dry Bulk Carrier Newbuilding Orders Surge
Dry bulk carrier newbuilding orders predominate among the contracts reported in the latest issue of the Clarkson Hellas S&P Weekly Bulletin. One order is reported by Clarkson Hellas in the larger dry sizes this week, with Foremost Maritime contracting two firm 180,000 DWT Capesize at Beihai Shipyard. Delivery of the first vessel is due in the later part of 2015, with the second due in the final quarter of 2016. In Japan, First Steamship are reported to have contracted a single 85,000 DWT post-panamax bulk carrier at Sasebo Heavy, due to deliver in 2016.
Costamare Q4 & Year End Report
Costamare Inc. (NYSE: CMRE), an international owner of containerships, reported unaudited financial results for the fourth quarter and for the year ended December 31, 2010. Voyage revenues of $85.7 million and $353.2 million for the three months and the year ended December 31, 2010, respectively. Adjusted EBITDA of $56.2 million and $223.6 million for the three months and the year ended December 31, 2010, respectively. Net income of $11.8 million or $0.21 per share and $81.2 million or $1.65 per share for the three months and the year ended December 31, 2010, respectively. Adjusted Net Income of $18.0 million or $0.33 per share and $73.8 million or $1.50 per share for the three months and the year ended December 31, 2010, respectively.
Maersk Tokyo and Toba Order Admiral ECS
Costamare Shipping CO S.A., ordered four additional Admiral ECS for its Maersk Tokyo, Maersk Toba and 2 other vessels. This is the second time Costamare has purchased the Admiral system for its ships. In December 2006 the company ordered three for the MSC Sicily, MSC Tuscany and Sophia Britannia. Admiral ECS (Electronic Chart System) is installed in 140 vessels globally, ranging from 300,000 ton supertankers to 515 foot superyachts. More user friendly than most ECDIS installations, Admiral uses plain English menus rather than icons for its user interface. For this reason, some ECDIS equipped vessels also have an Admiral installed. The C-MAP vector chart database, using the Real Time Update Service (RTU), is updated automatically by the Admiral software.
Chinese Container Ship on the International Market
The ship to which China owns the full intellectual property rights is on the international market for the first time, according to People's Daily. Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. and Costamare Shipping Co. Greece signed a contract to build four of the 8,530 TEU container ships. The 8,530 TEU container ship is said to be the largest ever exported. Source: People's Daily Online
Cosco Guangzhou Docks in Port of Hamburg
The container ship new building Cosco Guangzhou chartered by the Chinese shipping company Cosco Container Lines Ltd. docked in the Port of Hamburg on March 27 for the first time. Loaded with export goods for Northern-Europe, the container vessel started its maiden voyage on February 25 in Shanghai. Cosco is using the ship on its liner route AE 1 between the Far East and Europe via Dalian, Qingdao, Singapore, Rotterdam und Felixstowe to the Port of Hamburg, Europe’s most important sea port for Far East and China cargoes. HHLA-Containerterminal Tollerort (CTT) took over the discharging and loading of containers for the so far biggest container ship being dispatched in the Port of Hamburg. The 9,500 TEU vessel was built by Hyundai Heavy Industries in Korea.
Hyundai Wins Bulker, Containership $400M Deal
Hyundai Heavy Industries Co. won $400 million in orders from Greece to build five containerships and four bulk carriers. Hyundai Heavy said the 5,500 TEU containerships will be delivered to Greece's Costamare Shipping Co. between late 2000 and the first half of 2001. The bulk carriers, all 75,000-gt class, are scheduled for delivery to Arcadia Shipmanagement Co. of Greece by the end of 2001. Hyundai Heavy said with the orders from Greece its shipbuilding orders this year rose to $2.5 billion and its backlog orders stands at $6 billion.
