Gatx Corp News

Anthony Veder, which operate gas tankers in all the segments of gas shipping, from LPG shipping to LNG shipping and from CO2 shipping to ethylene shipping, will take over the commercial management of five gas carriers of Chicago-based GATX Corp.The vessels will start trading in Anthony Veder’s gas pool in June, the Rotterdam-based shipowner said in a press note.With this transaction Anthony Veder further strengthens its position as liquified gas shipping company to a fleet of 38 ethylene, LPG and LNG carriers, it said.The gas carriers previously were part of the Norgas pool and will be renamed starting with Coral, the release noted.Three out of five vessels will transport liquefied petroleum gas and petrochemical gasses such as ethylene.

Shares of Singapore shipping and logistics firm Neptune Orient Lines (NOL) rose 7.5 percent on Tuesday, buoyed by its deal to buy U.S.-based GATX Logistics for $210.5 million in cash. "They (NOL) have always said logistics is going to be a growth area for them. So, having made a significant acquisition, people tend to look at it positively because they are moving in the right direction," said Seah Hiang Hong, head of research at Kim Eng Securities. NOL said the acquisition would boost revenues for the group's unit APL Logistics -- the vehicle used to buy GATX -- by 70 percent or more than $300 million. GATX, owned by GATX Corp. until last June, is the second largest warehouse-based contract logistic company in the United States with about 21 million sq ft of warehousing space.

Maritime Surveys Ltd., Shoreham, Sussex, U.K., recently took delivery of the first SeaBat 8160 multibeam echosounder system from RESON A/S. The SeaBat 8160 was installed on one of Maritime's survey vessels, the Scotian Shore. Alastair MacDonald, managing director of Maritime Surveys, commented on the success of the sea trials: "The SeaBat 8160 delivered the highest quality multibeam survey data in a swath width of 1,300 meters at 3,000 meters water depth, even when experiencing a near 20 degree roll and 12 degree pitch. The excellent data quality combined with the system's portability makes the 8160 extremely valuable for our operations." During these trials the system was supported by GSE Rentals of Aberdeen who supplied a TSS POS M/V 320 system.