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Craig Stevenson News

16 Jun 2020

NORDEN, Diamond S Partner in Product Tanker Market

(File photo: Norden)

Two of the world’s largest owners/operators of product tankers, Denmark-based NORDEN and U.S.-based Diamond S Shipping, have created a strategic partnership, DiaNor, to facilitate the commercial consolidation of the product tanker industry.Diamond S will initially contribute 28 medium range (MR2) product tankers to the endeavor, which will be marketed and operated through the Norient Product Pool (NPP). Diamond S also intends to contribute its existing in-house commercial expertise in the product tanker space to the global network of NPP.

29 Nov 2018

Merger Creates $1.65B Tanker Giant

Greek shipping company Capital Product Partners has agreed to spin off its crude and product tanker business and merge it with the tanker businesses owned by DSS Holdings.The $1.65 billion transaction involving 68 tankers is expected to create the third largest publicly traded MR and product fleet in the world, and one of the world’s largest public mixed product and crude fleet operatorsThe new company, to be called Diamond S Shipping Inc., will be a market leader in the crude and product tanker markets, benefitting from a balanced and large-scale portfolio of vessels, strong management leadership and a cost-efficient commercial platform.DSS…

14 Jan 2015

NY Shipping Conference Speakers Announced

Conference organizers have announced the speaker lineup for the 21st annual Hellenic-American and Norwegian-American Chambers of Commerce conference, often called the New York Shipping Conference. Entitled “The Life of a Ship”, the conference will feature luminaries including Steinar Nerbovik of Aker Philadelphia Shipyard, Ben Ognibene of Heidmar, Craig Stevenson Jr., Joseph Hughes of Shipowners Claims Bureau, Paal Johansen of DNV GL, and Angela Chao of Foremost Group . The event will be held on Wednesday, February 11 at the Waldorf-Astoria starting at 8:15 a.m. with conference registration and continental breakfast sponsored by DNB Bank ASA. The luncheon keynote speaker will be Sturla Henriksen, CEO of the Norwegian Shipowners’ Association, organizers said.

19 Nov 2013

Bugbee Named 2014 CMA Commodore

Robert Bugbee speaking at CMA in March 2013

Robert Bugbee, President of Scorpio has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2014. Mr. Bugbee follows a long succession of influential maritime industry leaders as Commodore. The 2014 Commodore Award will be presented to Mr. Bugbee on March 19, 2014 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford, Connecticut, U.S. The Award is given…

25 Jun 2010

DSS Holdings Shipbuilding Contracts for 10 Vessels

DSS Holdings LP, the parent company of Diamond S Management LLC, announced subsidiaries of it have entered into shipbuilding contracts to purchase 10 ships. The contracts are with two prominent Korean shipyards for the construction of eight Suezmax tankers and two LR2 tankers. Delivery of the tankers is expected to occur in 2011 and 2012. DSS Holdings LP is a partnership formed in October 2007 between First Reserve Fund XII, L.P. and Craig Stevenson. The partnership was formed to create an energy focused shipping company.

26 Feb 2002

Crowley Announces Executive Changes

Tom Crowley Jr., Chairman, President and Chief Executive Officer of Crowley Maritime Corporation and Richard du Moulin, president of Marine Transport Corporation (MTC), jointly announced that with the successful integration of MTC into Crowley, du Moulin will be resigning from MTC to pursue other business interests. Crowley acquired Weehawken, N.J.-based MTC in February 2001. Mark Filanowski, senior vice president and chief financial officer of MTC, will also be leaving the company. Both resignations will take effect April 1, 2002. du Moulin had been Chairman of MTC since 1989 when he and Filanowski, utilizing their company Intrepid Shipping, acquired what was then NASDAQ-listed Marine Transport Lines, Inc. (MTL).

05 Apr 2002

118-ft. Yacht Designed to Travel to 70 Knots

Three Vericor Power Systems' TF50 marine aeroderivative gas turbines have been selected to power the 118 Wallypower high-speed yacht being built by Intermarine Shipyard, Sarzana, Italy for Wally Yacht. This is Wally Yacht's first foray into high-speed power yachts, and the company's initial application of gas turbines. Wally Yacht, based in Monte Carlo, Monaco, is a world-renowned designer of high-speed sailing and power yachts. The 118-ft. yacht will feature three TF50 gas turbines in a Combined Diesel Or Gas (CODOG) turbine configuration. Two TF50s will be used as side or "wing" engines, with one small auxiliary diesel engine connected to each wing engine. The diesels will provide for very slow maneuvering only.

31 Jan 2001

Stelmar Buys Osprey Tanker-Fleet for $212.5M

Airline chief Stelios Haji-Ioannou's tanker company Stelmar has agreed to pay $212.5 million for the bulk of the clean tanker fleet of Singapore-listed Osprey Maritime, Reuters reported on Wednesday. Neither company was able to comment. Brokers said Stelmar, set up in 1992 by Haji-Ioannou, owner of cut price airline easy Jet, will take four double-hulled 1990s-built tankers of 46,000 tons and six slightly older and smaller single-hulled vessels in a deal that will double Stelmar's fleet size. The deal is subject to final Stelmar board approval, they added. A spokesman at Stelmar's Greek office said that because it was seeking a stock market listing, the company was prevented from commenting. Osprey company officials were unavailable for comment. U.S.