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Thursday, March 28, 2024
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Ownership News

27 Mar 2024

Aloha Marine Lines Launches New Barge Built by Gunderson

(Photo: Lynden)

Aloha Marine Lines has added a new barge to its fleet to serve customers in the Seattle to Hawaii trade lane.The Makani Loa was constructed at Gunderson Marine & Iron in Portland, Ore., and launched on March 2 as a sister to the Kamakani and Namakani, which were added to the Aloha fleet in 2020. Together, they represent Aloha Marine Lines’ family of Makani Class barges that will continue to maintain regular, bi-weekly barge service between Seattle and Hawaii.Designed by Hockema Group, Inc., the Makani Class barges are 438 feet long, 105 feet wide with a deadweight capacity of 16,900 tons.

25 Mar 2024

Sweden Buys Norwegian Icebreaker

Polar Circle (Photo: Swedish Maritime Administration)

The Swedish Maritime Administration has purchased the 18-year-old icebreaker Polar Circle, expanding its fleet of icebreaking ships to help keep the nation's ports and shipping lanes clear during the cold winter months.In December, the Swedish Maritime Administration put out a tender to acquire a secondhand icebreaker, with Polar Circle emerging as the most suitable option. The agency recently ran the Polar Circle through trials in the Gulf of Bothnia before committing to purchase the vessel."We are delighted to welcome Polar Circle to our fleet.

22 Mar 2024

Itochu, U-Ming Mull Ammonia-Fueled Ships

© vchalup / Adobe Stock

Japanese trading house Itochu Corp will study joint ownership and operation of ammonia-fueled ships with Taiwan's U-Ming Marine Transport Corp, Itochu said in a statement, as Japan is bets on ammonia to cut emissions.The shipping industry transports about 90% of world trade, and accounts for nearly 3% of the world's carbon dioxide emissions; and installing ship engines that burn cleaner fuels could help slow global warming trends.The IMO has set a target of net-zero greenhouse gas emissions by around 2050…

18 Mar 2024

StormGeo takes Ownership of Climatempo

StormGeo, part of Alfa Laval, completed the acquisition of Brazil based meteorological service, Climatempo.StormGeo first took an initial 51% stake in the Climatempo Group in 2019. In 2023, a further 38.66% was secured, marking an 89.66% ownership. This takeover sees StormGeo increasing its footprint in the South American market and providing advanced services to the Brazilian customer base.

14 Mar 2024

NYK and Astomos Energy Christen New Jointly-Owned Dual-Fuel LPG Carrier

Gas Garnet vessel (Credit: NYK)

As their first jointly owned liquefied petroleum gas (LPG) carrier in 21 years, NYK and Astomos Energy have named the new vessel Gas Garnet.The companies held a naming ceremony at the Sakaide Works of Kawasaki Heavy Industries on March 1, 2024.The 86,953 m3 capacity vessel was christened Gas Garnet by Yoshihito Takahashi, senior executive officer of Astomos Energy. This is the first jointly owned LPG vessel by the companies after they shared ownership of Gas Capricorn from 2003.The vessel has a breadth of 37.2 meters…

07 Mar 2024

Oil Leak from Capsized Barge Off Tobago Stopped After a Month

(Photo: Office of the Chief Secretary)

An oil leak from a barge carrying up to 35,000 barrels of fuel oil that capsized in early February off the Caribbean island of Tobago has stopped, said the twin islands' government on Thursday.The spill, which was first spotted off the coast of Tobago's Atlantic coast on Feb. 7, damaged some of the island's mangrove and threatened its tourism and fishing sector. The spill also entered the Caribbean Sea, threatening nearby Venezuela and Caribbean islands, including Bonaire."The hydrocarbon discharge emanating from the overturned vessel located off the coast of Tobago has stopped…

06 Mar 2024

Hanwha Ocean Lays Keel for Cadeler WTIV Wind Maker

(Photo: Cadeler)

South Korean shipbuilder Hanwha Ocean has laid the keel for Cadeler’s newbuild wind turbine installation vessel (WTIV), Wind Maker.The vessel was ordered in 2021 by Eneti, which was acquired by Denmark-based Cadeler in 2023. The vessel was to be named Nessie under previous ownership.The Gusto MSC NG16000X self-propelled jack up will be fitted with a Huisman 2600t at 31m radius leg encircling crane, allowing the installation of 14MW+ offshore wind turbines. It will feature a main deck area of 5…

01 Mar 2024

US Offshore Wind: Down but Not Out

© Eric Dale Creative / Adobe Stock

“The winds of change are blowing wild and free.” – Bob DylanIn the U.S. offshore wind industry, developments over recent months have placed an exclamation point on the word “wild”. Yes, the wind still blows “free”, but mounting challenges have proven that harnessing its power offshore is anything but. In fact, far from it, as rising materials costs, high interest rates, labor shortages and supply chain delays, among other issues, have delivered heavy blows to the commercial viability of several projects.

29 Feb 2024

New York Awards Equinor and Orsted New Offshore Wind Contracts

© Fokke Baarssen / Adobe Stock

New York officials on Thursday awarded provisional contracts to two proposed offshore wind projects under a program meant to support the embattled industry and keep the state's clean energy goals on track.The state selected a planned 810-megawatt project, Empire Wind 1, (developed by Equinor) and Sunrise Wind, a planned 924-megawatt project (developed by Orsted and Eversource).The closely watched solicitation by the New York State Energy Research and Development Authority (NYSERDA)…

29 Feb 2024

KOTUG Takes Full Ownership of Its Bahamas Towage JV with SEACOR

(File photo; KSM)

KOTUG International, a marine services and towage provider based in the Netherlands, announced on Thursday it has concluded its acquisition of Kotug Seabulk Maritime (KSM), taking full ownership of the Caribbean marine towage business.KOTUG said it has acquired the interest of its joint venture partner, Fort Lauderdale, Fla.-based SEACOR Holdings via its Seabulk subsidiary KS Maritime Holdings, owner of the 50% share in KSM.Founded in 2017, KSM acts as the exclusive provider of maritime terminal support services for Buckeye Partners’ Bahamas Hub…

27 Feb 2024

Japan Continues to Lead Shipowner Rankings

© Carabay / Adobe Stock

VesselsValue has unveils this year’s top 10 shipowning nations, reviewing the total asset values for vessels by beneficial owner country. From Japan's resolute leadership in the top position with a USD 206.3 billion fleet to the emergence of Hong Kong at USD 44.7 billion, asset values and ownership strategies have changed considerably over the last 12 months, says Rebecca Galanopoulos-Jones, Senior Content Analyst, Veson Nautical.The data provided by VesselsValue and analysed by Veson is valid as of February 2024.

27 Feb 2024

Centerline Logistics Acquires Tugs and Barges from JMB Shipping

(File photo: Centerline Logistics)

Seattle-based maritime transportation provider Centerline Logistics announced it has acquired a fleet of four liquid tank barges and four tugboats from maritime asset holding company JMB Shipping.The deal closed on February 23, and its terms were not disclosed. Prior to the acquisition, JMB Shipping was owned by JMB Capital Partners Lending, an investment firm that bid $115 million in 2021 to purchase a portion of Bouchard Transportation's tug and barge fleet after the New York-based marine transport company went bankrupt.

26 Feb 2024

Herculaneum Port Site Cleared for Redevelopment as Intermodal Hub

(Photo: St. Louis Regional Freightway)

A 300-acre property along the Mississippi River in Herculaneum, Missouri recently received Port District zoning making way for redevelopment as an intermodal transportation hub and industrial park.Located on the shipping lanes of the Mississippi River, the site has been utilized since the 1700s as a port. With its easy access for barge loading and offloading and the site’s proximity to early lead mines in adjacent Washington County, under early French ownership the port was utilized to ship lead cannonballs and shot to Europe to support Napolean’s army.

26 Feb 2024

New Agreement to Kickstart Salem Offshore Wind Terminal

(Image: Crowley)

The Massachusetts Clean Energy Center (MassCEC), Crowley Wind Services and the City of Salem announced the transfer of ownership and an agreement for site improvements and ongoing operations for the Salem Offshore Wind Terminal.The agreement will kickstart the transformation of the site into the second port built specifically to support the construction of offshore wind farms in Massachusetts. The Salem Offshore Wind Terminal will also support the construction and installation…

24 Feb 2024

First LNG Carrier Arrives at New German Mukran Terminal

LNG terminal at Lubmin. Image copyright Deutche ReGas

The first vessel carrying LNG for Germany's Baltic Sea terminal of Mukran arrived on Saturday for a test operation as the country steps up its quest to replace Russian pipeline gas.Private company Deutsche ReGas said that Energos Power, a floating storage and regasification unit (FSRU), had moored at the terminal on Ruegen Island, having received approval from local authorities.Germany has intensified its quest to increase LNG capacity for regasification on its shores, as European countries seek to reduce their heavy reliance on Russian gas following Moscow's invasion of Ukraine.The tests will

23 Feb 2024

Singapore Picks 11 Proposals to Advance Electric Harbor Craft Designs

(Credit: MPA)

The Maritime and Port Authority of Singapore (MPA) has shortlisted 11 proposals, submitted by seven companies and consortia, to advance designs and promote adoption of full electric harbor craft (e-HC) in Singapore.The announcement follows call for the expressions of interest (EOI), launched by MPA) in 2023, which yielded 55 proposals from 32 international and local companies and consortia.The results signal high interest and strong confidence by global and local participants in the development of e-HC in Singapore.Of the 11 e-HC designs…

21 Feb 2024

Maritime AI Company to Support INTERPOL

© whitcomberd / Adobe Stock

Maritime AI company Windward has announced a partnership with INTERPOL, the International Criminal Police Organization, to assist in their mission of facilitating a secure maritime environment.Windward’s Maritime AI will provide intelligence to help identify, track, and prevent criminal activities such as illicit trafficking, human smuggling, piracy and illegal fishing.The lack of actionable visibility in the maritime domain emboldens criminals, negatively impacts global trade…

21 Feb 2024

American Queen Voyages Up for Sale as Hornblower Gets New Majority Owner

(Credit: Hornblower Group)

A global alternative investment firm Strategic Value Partners has entered into agreement with Hornblower Group to acquire the majority ownership of the company in exchange for significant equity investment. As part of the agreement, Crestview Partners retained minority ownership in the business, and the decision was made to sell or wind down the company’s overnight cruises unit American Queen Voyages.Aside from significant minority stake in the business, Crestview will become the sole owner of Journey Beyond…

12 Feb 2024

Future Ships: Picture Perfect

(Image: Siemens)

Big data, advanced computers and AI are allowing vessel designers to prepare models that leave essentially nothing to chance.“Lastly, it may be of considerable importance to form from the draught a block model of the vessel from which a still more accurate judgment may be formed of the fitness and beauty of the body. And should any defect be discovered, farther alterations must still be made, till the draught and the model are perfectly approved of. These different alterations and repeated calculations may appear very tedious…

09 Feb 2024

More Grain Ships Diverted from Red Sea Due to Houthi Attacks

© Lukasz Z / Adobe Stock

More ships carrying grain were diverted from the Suez Canal to sailings around the Cape of Good Hope this week as concern about attacks on vessels in the Red Sea continued, shipping analysts said on Friday."Another 13 vessels were diverted this week taking the total cargo diverted away from the Red Sea route to around 5.2 million metric tons of grains in about 90 ships since the attacks started late last year," said Ishan Bhanu, lead agricultural commodities analyst at data provider…

15 Feb 2024

Tobago Oil Spill Spreading to Grenada

(Photo: Office of the Chief Secretary)

An oil spill that has stained Tobago's coastline in the Caribbean is entering into Grenada's waters and could impact neighboring Venezuela, Tobago's Chief Secretary Farley Augustine told Reuters on Thursday.Eight days after Trinidad and Tobago's Coast Guard first spotted the oil from a capsized vessel whose owner and origin have not been confirmed, portions of the stain have moved about 144 km (89 miles) into the Caribbean Sea at a rate of 14 km per hour, Augustine said."It has now entered Grenada's territorial waters…

12 Feb 2024

US Spending $7 Million a Year to Maintain Yacht Seized from Russian Oligarch

Amadea (File photo: Sukkoria / CC BY-SA 4.0 DEED)

The U.S. government said it is spending more than $7 million a year to maintain a superyacht it seized from a sanctioned Russian oligarch, and urged a judge to let it auction the vessel before a dispute over its ownership is resolved.Authorities in Fiji seized the 348-foot (106-meter), $300 million Amadea in May 2022, pursuant to a U.S. warrant alleging it was owned by Suleiman Kerimov, a multibillionaire sanctioned by the U.S. Treasury Department in 2014 and 2018 in response to Russia's activities in Syria and Ukraine.Efforts to auction the yacht are being challenged by Eduard Khudainatov…

20 Feb 2024

Greek Ship Attacked in Red Sea by Houthis Arrives in Aden

© Faraways / Adobe Stock

The Greek-flagged bulk cargo vessel Sea Champion arrived in the southern Yemeni port of Aden on Tuesday after being attacked in the Red Sea in what appeared to have been a mistaken missile strike by Houthi militia, shipping and military sources said.Shipping risks are escalating due to repeated drone and missile strikes in the Red Sea and Bab al-Mandab Strait by the Iran-aligned Houthis since November. U.S. and British forces have responded with several strikes on Houthi facilities but have so far failed to halt the attacks.The Sea Champion…