Katerina News

South Korean authorities cited the risk of Chinese economic retaliation when they charged marine technology firm SI Innotec last year with violating trade laws for its work on Taiwan's new military submarine program, according to a police document seen by Reuters and two people familiar with the matter.In a Feb. 17, 2022, affidavit to a judge seeking the arrest of SI Innotec executive director Park Mal-sik, police said authorities feared a repeat of the sweeping sanctions imposed by Beijing in 2016, after Seoul decided to install THAAD, a U.S. anti-missile system.

The provider of seaborne transportation services, Danaos Corporation has concluded a $150m sale-and-leaseback deal for two of its biggest boxships with the alternative investment firm EnTrust Global.Watson Farley & Williams (WFW) has advised EnTrust Global’s (ETG) Blue Ocean Funds on the transaction of the two container vessels “HYUNDAI RESPECT” and “HYUNDAI HONOUR” acquired from and chartered back to two subsidiaries of Danaos, said a press release.This is the Blue Ocean Funds’ first sale and leaseback in the Greek shipping market, with the US$150m made available to Danaos, a NYSE-listed global shipping company maintaining a fleet of large size container vessels…

International law firm Watson Farley & Williams (WFW) advised Norway’s DNB Bank ASA (DNB), as facility agent and security agent for a syndicate of banks comprising itself, ABN AMRO Bank N.V., BNP Paribas, Danish Ship Finance and Skandinaviska Enskilda Banken AB, in relation to a US$310m loan facility provided to Star Bulk Carriers Corp.Secured on 26 vessels in Star Bulk’s fleet, the facility consists of two tranches: (a) a first tranche of US$240m used to refinance Star Bulk’s debt under five existing facility agreements; and (b) a second tranche of US$70m used to finance the prospective capital expense for the retrofitting of vessels…

Global law firm Norton Rose Fulbright has advised Citigroup and other lenders of Danaos on a $2.2 billion restructuring of NYSE-listed Danaos Corp (DAC), one of the world’s largest independent owners of modern, large-size containerships.Norton Rose Fulbright’s Athens, London and New York offices advised Citigroup and certain other lenders (including China Exim Bank and Eurobank) on new money, take out and refinancing facilities, restructuring support agreements, debt for equity arrangements, debt trading, Chinese ECA aspects and complex shared security and other intercreditor agreements.The transaction, which completed out of court,…

Watson Farley & Williams (WFW) has advised CMB Financial Leasing (CMBFL) on a US$180.4m sale and leaseback transaction with Star Bulk Carriers Corp, a Nasdaq-listed global shipping company providing worldwide seaborne transportation of dry bulk cargoes.The funds obtained by Star Bulk under this new five-year capital lease of US$180.4m entered into with CMBFL were used to part-finance the cash portion of the consideration with regards to Star Bulk’s acquisition of 15 dry bulk vessels from Norwegian shipowner Songa Bulk ASA.Founded in 2008, Shanghai-based CMBFL provides financial leasing solutions to large, medium, and small businesses across China.

The Women’s International Shipping and Trading Association (WISTA) is proud to announce the formation of its Diversity Committee. A member-driven project created as a next step after the #METOO campaign, the WISTA Diversity Committee will focus on providing practical solutions to increase opportunities for gender diversity in the maritime industry. The committee works as part of WISTA International’s 2018 theme: The Women Who Move the World. “WISTA has always advocated for increased gender diversity in the maritime industry. Over the years our members and National WISTA Associations have taken significant steps in increasing the opportunities, support, and roles for women in our industry,” said WISTA International president Despina Panayiotou Theodosiou.

Green Award Foundation has announced that their network of incentive providers has extended to China. Kamji Marine Agency Ltd entered the Green Award scheme. Kamji Marine Agency headquarted in Zhoushan with branch offices in Europe. The company is a husbandry agent (local agent in Zhoushan port and a general agent for all other Chinese ports. It offers a wide range of services such as sludge disposal, tanker cleaning, dry dock repair, technical repair, store & spare parts supply and acts as a SPRO agent. Green Award certified ships and offices are offered a 3% discount for owner matter agency, no cash payment on board the ship for SPRO retainer fee and a 5% discount on sludge disposal, tank cleaning, technical repair and store & spare parts supply.

NewLead Holdings Ltd. has today renewed the Contract of Affreightment (the "CoA") for one of its bitumen tanker vessels, the MT Katerina L for an additional twelve month period, for the transportation of a minimum of 49,600 metric tons of bitumen over 16 voyages, or, at the Charterer's option, up to a maximum of 74,400 metric tons of bitumen over 24 voyages. The first shipment is scheduled to commence at the beginning of January 2016. The Katerina L will be trading in the Mediterranean area between all the major refineries, on the basis of the Vessel's relevant oil major approvals. In 2015, the Katerina L performed 15 voyages and transported 45,669 metric tons of bitumen in the Mediterranean area, (the initial term of the first CoA was only for 31,000 metric tons of bitumen).

Greece appealed to its European Union partners on Tuesday to come up with a comprehensive strategy to deal with a growing migrant crisis as new data showed 21,000 refugees landed on Greek shores last week alone. That number is almost half Greece's overall refugee intake in 2014 and brings total arrivals this year to 160,000, even as it struggles with a debt crisis that has forced it to accept a third international bailout. The influx of refugees, mainly from Syria, has strained an already ill-prepared reception system in Greece that relies heavily on volunteers, forcing thousands to camp out in filthy conditions and triggering sporadic clashes and brawls.

NewLead Holdings Ltd. announced today that it has entered into its first Contract of Affreightment for one of its bitumen tankers vessels, the Katerina L, for the transportation, within a ten month period, of a minimum of 31,000 tons of bitumen over ten voyages, or, at the Charterer's option, up to a maximum of 49,600 tons of bitumen over 16 voyages. The first shipment is scheduled to commence by the end of February 2015. The Katerina L will be trading in the Mediterranean and United Arab Emirates areas between all the major refineries in the respective areas. Katerina L has secured employment for a minimum of 100 and a maximum of 300 days in 2015, depending on the respective trading routes. Mr.

NewLead Holdings Ltd. has succeeded in growing the fleet of the Company from two to ten vessels in less than one year following its growth strategy and delivering on its commitments. NewLead's fleet has been entirely transformed to include younger, flexible in size, fuel-efficient vessels with an anticipated substantially longer employment lifetime and revenue capacity. Today, NewLead controls a fleet of ten vessels, five dry-bulk and five tanker vessels, with an average fleet age of 7.4 years. At the beginning of 2014, NewLead controlled a fleet of two dry-bulk vessels with an average fleet age of 17.84 years. NewLead succeeded in taking delivery of three modern…

NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less than a year while performing on its strategy to capitalize on opportunities that arise in the market. NewLead completed the acquisition of three bitumen tankers, the "Captain Nikolas I", the "Nepheli" and the "Sofia", for a purchase price of approximately $21.0 million, to be paid through a combination of equity and debt financing. The other two bitumen tankers, the "Ioli" and the "Katerina L", were added to NewLead's fleet following two separate bareboat/leasing agreements. The…

NewLead Holdings Ltd. announced that it recently added five bitumen tanker vessels, expanding its fleet to 10 vessels in less than a year while performing on its strategy to capitalize on opportunities that arise in the market. NewLead completed the acquisition of three bitumen tankers, the Captain Nikolas I, the Nepheli and the Sofia, for a purchase price of approximately $21 million, to be paid through a combination of equity and debt financing. The other two bitumen tankers, the Ioli and the Katerina L, were added to NewLead's fleet following two separate bareboat/leasing agreements. The company has the option to purchase the last…

The Women’s International Shipping and Trading Association (WISTA) meeting of the National WISTA Association Presidents held in Paris on October 3rd provided an opportunity to examine the goals of the Association, and add to its leadership. Chaired by WISTA President Karin Orsel, the all day event featured leadership roundtable discussions resulting in agreements to amend the articles of association, examine the organizations objectives and mission statement, and to research the issue of human trafficking. This was also the forum for electing new Executive Committee members:  Jasamin Fichte, Managing Partner of Fichte & Co and President of WISTA UAE; Katerina Stathopoulou, VP, Senior Manager of Investments & Finance Ltd.

Safe Bulkers, Inc. (NYSE: SB), an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and six months periods ended June 30, 2009. Net revenue for the second quarter of 2009 decreased by 14% to $44.3m from $51.4m during the same period in 2008. The company operated 13 vessels on average during the second quarter of 2009, earning a Time Charter Equivalent (TCE)(1) rate of $37,555, compared to 11 vessels and a TCE rate of $52,069 during the second quarter of 2008. The decrease in the TCE rate resulted mainly from lower average period time charter rates contracted in previous periods, and to a lesser extent from the lower prevailing spot market charter rates.

On December 7, 2001, two ferries were christened and one was launched by German Shipyard Flenderwerft. Mrs. Katerina Panagopulos, National Ambassador of Greece to the Council of Europe for Sports, Tolerance and Fairplay, wife of Mr. Pericles Panagopulos, Chairman of Attica Enterprises S.A. christened the RoRo Pax Ferry Superfast XI. This ship was launched on August 3. Subsequently, Mrs. Julie McLeish, wife of the former First Minister of Scotland Rt. Hon Henry McLeish MSP, named the sister vessel "Superfast XII" prior to its launching. Having the newbuilding number 682 and 683, the ships are being built for the Greek-based company Attica Enterprises S.A.

Royal Olympic Cruise Lines Inc. announced that its new cruise ship, Olympia Explorer, was christened at the Port of Piraeus on Friday, June 7, 2002. Vangelis Papathanassiou, the internationally renowned composer and 1982 Oscar winner for his film score for "Chariots of Fire," was the vessel's godfather, assisted by Katerina Potamianos and Marisa Loizou, the daughters of Andreas Potamianos and Costakis Loizou, Royal Olympic's two main shareholders. After the christening ceremony, music from Vangelis' score for the film "1492" was played. Olympia Explorer, like her sister ship, Olympia Voyager, was built at the Blohm+Voss shipyard in Hamburg and with cruising speeds of up to 30 knots, she is the fastest cruise ship, of her size, in the world.

The captain and two crew members on the M/V Katerina, a 16,320-ton cargo ship that arrived at the Port of Long Beach on September 10, were arrested this morning on federal pollution charges for allegedly dumping oil-contaminated waters into the Pacific Ocean. A criminal complaint filed yesterday evening in United States District Court in Los Angeles specifically charges the trio with attempting to conceal the water pollution by maintaining log books that failed to note the tainted discharges. • Ioannis G. • Edgardo A. • Rolan P. Sullesta, 42, of the Philippines, the second engineer on the ship. All three defendants are scheduled to make their initial court appearances this afternoon in federal court in downtown Los Angeles.

The chief engineer the M/V Katerina, which was equipped with pipes to bypass an important water pollution-control device, was sentenced today to eight months in federal jail for his conviction on obstruction of justice charges. Edgardo A. Guinto, 49, of the Philippines, was sentenced this afternoon in Los Angeles by United States District Judge Florence-Marie Cooper. Guinto pleaded guilty to the obstruction charge in January, admitting that he allowed the bypassing of the oil-water separator on the Katerina, that he instructed crew members to remove and conceal the bypass pipe when the ship came into Long Beach, and that he made fraudulent entries in the ship's pollution-prevention records known as the Oil Record Book.

Four Filipino seamen received a total of $250,000 dollars from the U.S. Department of Justice for their initiative in protecting the environment. The four informed the U.S. Coast Guard of the actions of the M/V Katerina, a ship that was found to be in violation of international and U.S. environmental laws. U.S. Embassy Chargé Joseph Mussomeli presented the cash awards to Jonathan Sanchez, Jimmy Piamonte, Florencio Tolentino and Richard Santillan during a ceremony held today at the U.S. Embassy in the Phillippines. 1. Between February 2004 and September 2004 the M/V Katerina, a 600-foot, 16,320 ton vessel, illegally dumped large amounts of oil waste into the ocean.