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Transportation Group News

05 Jan 2024

Ulstein Inks Deals with JP Morgan for Offshore Wind CSOV Newbuilds

(Credit: Ulstein)

Norwegian shipbuilder Ulstein Verft has signed contracts with J.P. Morgan Asset Management for offshore wind Construction Service Operation Vessel (CSOV) newbuilds.In 2023, Bernhard Schulte Offshore ordered the design and construction of two such vessels from Ulstein under a contract which included options for two plus two vessels.These options have been transferred to institutional investors advised by J.P. Morgan Asset Management, who declared the first two.The CSOVs will be…

08 Nov 2023

Putin Approves Transfer of State-owned Shares in Shipping Company to Rosatom

Š Kalyakan / Adobe Stock

President Vladimir Putin signed on Wednesday a decree transferring to Russia's state nuclear power company Rosatom state-owned shares of the Far Eastern Shipping Company, parent company of transportation group Fesco.Fesco was formerly controlled by Ziyavudin Magomedov, who was convicted last year on organized crime and embezzlement charges and is serving a 19-year jail sentence following one of the highest-profile prosecutions of a Russian tycoon in years.Magamedov says the charges are unfounded and is appealing his conviction.

27 Sep 2023

Jailed Russian Tycoon Launches $14B Lawsuit in UK Over Port Holdings

Credit:Maxim Tupikov/AdobeStock

Russian tycoon Ziyavudin Magomedov, jailed at home in Russia, has launched a London lawsuit seeking nearly $14 billion over his holdings in valuable port operators, which he says were seized as part of a state-backed conspiracy.The businessman filed the lawsuit at London's High Court on July 20 against several defendants, including Russian state nuclear energy company Rosatom, oil pipeline operator Transneft, private equity firm TPG, and UAE-based port operator DP World.Magomedov…

08 Jun 2023

Titan Charters LNG Bunker Vessel from Fratelli Cosulich

(Image: Titan)

Clean fuels supplier Titan announced it has signed a long-term time charter agreement with Italian maritime transportation group Fratelli Cosulich for the new 8,200Cbm capacity liquefied natural gas (LNG) bunker vessel Alice Cosulich.Alice Cosulich will join Titan's fleet in the fourth quarter of this year and will operate in Europe. The vessel, which has an LNG and liquified biomethane (LBM) bunkering capacity of 8,200 m3, as well as smaller parcels of biodiesel going forward…

29 Jul 2022

Louis Dreyfus Armateurs Sells 13 Bulk Carriers

French family-owned shipowner the Louis Dreyfus Armateurs Group (LDA) siad it has reached a deal with partners Groupe Roullier and Peugeot Invest and institutional investors advised by J.P. Morgan Global Alternatives’ Global Transportation Group and the Dubai-based shipowner MUR Shipping BV, for the sale of a fleet of 13 handysize and supramax bulk carriers.The ships will be gradually delivered to their future owner in the coming weeks, LDA said.

10 Mar 2022

Russia's Shipping Trade Slides After Ukraine Invasion

Š Valentina / Adobe Stock

Russia's shipping trade has plummeted since Moscow's Feb. 24 invasion of Ukraine and Western sanctions push many foreign companies to suspend sailings, adding further pressure on the country's economy, according to freight data.The world's biggest foreign container lines—including the top three MSC, Maersk, CMA CGM and others such as Hapag Lloyd—have temporarily suspended cargo shipments to and from Russia, while multiple companies including home furnishings firm IKEA have shut stores.Food companies Nestle…

23 Nov 2021

Havfram, J.P. Morgan to Order 'Series' of Wind Turbine Installation Vessels

Credit: Havfram

Institutional investors advised by J.P. Morgan Global Alternatives, in cooperation with Norwegian offshore services firm Havfram, have signed a letter of intent with China's CIMC-Raffles to build "a series of next-generation, state-of-the-art wind turbine installation vessels (“WTIV”)."The jack-up installation units will be offered for market entry in 2024, Havfram said.The first vessels will be built at CIMC-Raffle’s Yantai yard in China for delivery in 2024. "The plan is to…

31 Aug 2020

Stolt-Nielsen to Buy Five Chemical Tankers from CTG

Stolt-Nielsen has via Stolt Tankers B.V. agreed to buy five chemical tankers from Chemical Transportation Group (CTG) for trading in the Stolt Tankers Joint Service, in a move to modernize its fleet.The five ships, which are 26,000 dwt and with stainless steel cargo sections, were built in China in 2016 and 2017. The purchase of each ship isexpected to close between December 2020 and February 2021. Further terms of the transaction were not disclosed.Stolt Tankers President, Lucas Vos, said: "This acquisition is an excellent opportunity for Stolt Tankers to replace ships being retired in the next few years, lowering our fleet age profile with competitively priced ships that can trade in any of our deep-sea lanes.

30 Jan 2020

FESCO Transports RTG Cranes Via NSR

FESCO Transportation Group, the largest intermodal transport operator in Russia,  has performed relocation of four Liebherr rubber tyred gantry (RTG) cranes from Petrolesport (part of Global Ports Group) in St. Petersburg to Vostochnaya Stevedoring Company (part of Global Ports Group) in Vrangel (Primorsky Krai)."To ensure minimum transit time, the transportation of RTG cranes was carried out along the Northern Sea Route. The sea passage took 28 days, while transit time on the route through the Suez Canal would take about 52 days," said a press release.Transportation was made by vessel Nordic Svalbard, equipped with heavy-lift cranes.

21 Nov 2019

FESCO Adds New Container Ship

FESCO Transportation Group, the largest intermodal transport operator in Russia, announced that a new container ship of ice class  ESCO Moneron has recently joined the fleet.The national flag of the Russian Federation was raised on the ship on 21 November 2019.Container ship with a capacity of 822 TEU will be operated on FESCO Magadan cabotage service (FML), that already includes FESCO Magadan sister ship, purchased last year, and FESCO Posyet universal bulk carrier.FESCO Moneron container ship is planned to be put on the line in the end of 2019 or in the beginning of 2020 at the latest.Arc4 ice class of the vessel complies with the standards needed for work in the northern part of the Sea of Okhotsk in winter. The ship is fitted with modern equipment and has a high degree of automation.

08 Sep 2019

Expansion for Far East and Trans-Siberian Railway

FESCO Transportation Group, the largest intermodal transport operator in Russia, and Polish rail operator PCC Intermodal S.A. agreed on developing services of expedited cargo delivery from Japan, South Korea and China to European countries and vice versa through the Far East and Trans-Siberian Railway.The agreement of intent was signed during the Eastern Economic Forum.Using their experience and expertise, the companies are going to work on increasing the volumes of transit cargo shipped with Trans-Siberian Landbridge service launched this summer, and to attract new customers (European in the first place) to the service.In order to promote the service…

09 Jul 2019

LDA Ventures into Wind-Powered Shipping

French family-owned maritime transportation group Louis Dreyfus Armateurs (LDA) is venturing into wind-powered shipping as the group sees the benefits of operational savings and a need for decarbonisation.LDA Group has become the latest member of the International Windship Association (IWSA) to help further the development of these primary renewable solutions.LDA President, Edouard Louis-Dreyfus, stated: "we are very excited by the development of wind solutions as a key answer to the decarbonisation challenges we are facing today and it is only natural for us to join the International Windship Association in its drive to further develop these technologies."LDA Group owns…

05 Jul 2019

FESCO Buys New Containership

FESCO Transportation Group, the largest intermodal transport operator in Russia, announced that the ice-class container vessel “FESCO Magadan”, with full capacity of 822 TEU, joined its fleet."The flag of the Russian Federation was solemnly raised on the ship on July 2, the day of the formation of the city of Vladivostok," said a press note from the public transportation and logistics company.The container ship will be operated on FESCO cabotage service “FESCO Magadan Line”. The launch of this container carrier on “FESCO Magadan Line” is scheduled for August, 2019.The ice rate meets the standards required for operation in the northern part of the Sea of Okhotsk during winter-time.

20 Jun 2019

FESCO Opens Routes to Ports of Chukotka

The largest intermodal transport operator in Russia FESCO Transportation Group started seasonal transportation to Anadyr and Egvekinot, the ports of the Chukotka Autonomous Region, under the Northern Supply Haul.General cargo ship “FESCO Pioner” set sail for Anadyr on June 13, 2019. FESCO vessel will deliver to Anadyr about 4 500 tons of containerized and general cargo.The approximate date of arrival of this general cargo ship to Chukotka is June, 22. Delivery of the goods on linear service "FESCO Anadyr Direct Line" (FADL) is to last until the end of October.FADL service provides transportation all kinds of cargoes, such as dry and general cargoes…

25 Apr 2019

FESCO Optimizes the Rotation

Russian shipping company FESCO Transportation Group announced that as part of the development of FESCO Fast Forward services it is optimizing the rotation and changing the names of regular shipping lines from China and the Republic of Korea to Russia.Transportation services between China and Russia will be carried out under the brand FESCO China Express, and between the Republic of Korea and Russia - under the brand FESCO Korea Express.FESCO China Express will operate on two routes: Vladivostok-Vostochny-Shekou-Yantian-Xiamen-Ningbo-Shanghai-Vladivostok and the fast route - Eastern Arrow – Vladivostok-Qingdao-Shanghai-Ningbo-Vladivostok.

11 Apr 2019

ICG Sells Oscar Wilde Ferry to MSC

Dublin-based maritime transportation group Irish Continental Group (ICG) has entered into a bareboat hire purchase agreement for the sale of the cruise ferry “Oscar Wilde” to MSC Mediterranean Shipping Company.The total consideration for the sale is EUR28.9m, payable in instalments over six years, up to 2025.Delivery to the buyer is expected to take place this month, said a company release.Built in 1987, the Oscar Wilde was bought by ICG in 2007 and operated on Irish Ferries’ route to France. ICG operates Irish Ferries, which runs sailings from Ireland to Britain and France.The proceeds less the net book value of the Oscar Wilde (€7.7 million) and related disposal costs will result in a profit on disposal which will be reported as part of the 2019 financial results of ICG…

12 Feb 2019

INPEX Selects NAPA for LNG Carrier Fleet

Japan's largest oil and gas exploration and production company INPEX Corporation has installed ClassNK-NAPA GREEN for monitoring operations on three of its liquefied natural gas (LNG) carriers.NAPA said that Inpex awarded a deal to the company for the provision of a solution for monitoring and follow-up of ship operations on two LNG carriers built to service the Ichthys project and one LNG carrier for Shell’s Prelude FLNG project.With the core motivation of accurately verifying the technical performance of these highly complex carriers, INPEX chose ClassNK-NAPA GREEN for the combination of NAPA’s LNG carrier design understanding and market leading performance monitoring software.The Oceanic Breeze…

07 Feb 2019

St Petersburg Port Cargo Handling Up by 12%

Sea Port of Saint-Petersburg (CTSP), a company of UCL Port, stevedoring division of the international transportation group UCL Holding, handled 7.7 million tonnes of cargo showing a 12-pct increase versus the result of 2017.The increase of cargo traffic is attributed the development of yards dedicated for transshipment of cast iron, metal scrap, ore, mineral fertilizers and containers, said a release from the operator providing dry cargo transshipment in Saint-Petersburg port and the North-West of Russia.Total transshipment of general cargo via Sp SPb grew by 5% to 6.67 million tonnes including 3.74 million tonnes of ferrous metal. The growth of ferrous metal transshipment was driven by cast iron…

26 Jun 2018

Laino Named Chembulk CCO

Chembulk Tankers named Steve Laino its Chief Commercial Officer, based out of the Southport office and responsible for all facets of our commercial strategy worldwide, including chartering, projects and client relations. Laino comes to Chembulk with more than two decades of diverse experience in the maritime transportation industry, with experience in the chemical tanker sector. Laino has held roles in operations both at sea and ashore, in commercial capacities as a tanker broker, projects broker and shipowner. Most recently, Laino held the role of Chief Operating Officer of Chemical Transportation Group (CTG), which he founded together with two partners and a group of investors in 2014.

30 May 2018

ABB to Equip High-spec Vessel for Largest Offshore Wind Farm

SOV on contract with Ørsted AS (former DONG energy). Image courtesy of Salt Ship Design

ABB technology allowing integration of batteries receives major vote of confidence as Louis Dreyfus Armateurs orders second wind farm service vessel featuring a wide scope of ABB’s solutions.Maritime transportation group Louis Dreyfus Armateurs (LDA) will add a second 83 meter windfarm service operation vessel (SOV) to its fleet, featuring an extensive range of ABB’s technology, with the award-winning power distribution system Onboard DC Grid at its core. The vessel will support operations at Hornsea Project Two off the UK coast…

23 May 2018

Tim Bush Promoted to Crowley VP, Deputy General Counsel

Crowley Maritime Corp. has announced that Tim Bush has been promoted to vice president and deputy general counsel. In his new position, Bush will help support the company’s growth as a provider of solutions for the U.S. government and various public-sector agencies. He will be based in Houston and report to Michael Roberts, senior vice president and general counsel. “Tim is an outstanding lawyer, and adds a great deal of value to the Crowley team,” Roberts said. Bush will continue to serve as Crowley’s lead attorney on several large projects for the U.S government, including the Defense Freight Transportation Services (DFTS) contract for the U.S.

03 Apr 2018

Stolt-Nielsen Names Grüner-Hegge CFO

Jens F. GrĂźner-Hegge is the new CFO at Stolt-Nielsen (Photo: Stolt-Nielsen)

Stolt-Nielsen Limited announced Jens F. Grüner-Hegge has been appointed as its new Chief Financial Officer, effective from April 2, 2018. Grüner-Hegge, who has served as Vice President, Corporate Finance since 2007, succeeds longtime CFO Jan Chr. Engelhardtsen, who will retire from his executive role and has been appointed to fill a vacancy on the company’s board of directors. With the addition of Engelhardtsen as a director, the SNL Board now has seven members, four of which are independent.

13 Jul 2017

Odfjell Acquires Five Chemical Tankers

CTG Bismuth (Photo: Odfjell SE)

Odfjell SE informs it has signed a final agreement to acquire five chemical tanker newbuilds from Chemical Transportation Group, Inc (CTG) and form a pool of 15 chemical tankers. The transaction has been signed and completed, Odfjell said, after it announced on June 16 that it inked a term sheet with CTG to form the vessel pool and acquire CTG’s final five 25,000 dwt stainless steel newbuilds on order from Chinese shipyard AVIC Dingheng. Odfjell said it will pay $40 million per vessel upon delivery from shipyard.