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Japanese shipbuilder Kawasaki Heavy Industries (KHI) has delivered the bulk carrier Market Cooper to an unnamed shipowner.The 61,000DWT vessel was built jointly by Kawasaki and China COSCO Shipping Corporation at Nantong COSCO KHI Ship Engineering (NACKS) which is located in Nantong City, China.Market Cooper has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products, said the company.Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy…

Japanese shipbuilder Kawasaki Heavy Industries (KHI) delivered the Crystal Angel, an 82,200 m3 capacity liquefied petroleum gas (LPG) carrier, for the Singapore based shipowner and operator Kumiai Navigation.According to a KHI release, this is the 61th LPG carrier and the 12th vessel of the same type to be built by the company.Crystal Angel adopts Kawasaki's indegenously developed bow shape called SEA-Arrow, which significantly improves propulsion performance by minimizing bow wave resistance."The main engine powering the vessel is an energy-efficient, electronically-controlled, ultra-long-stroke, two-stroke low-speed diesel engine," the release claimed.In addition…

Japanese shipbuilder Kawasaki Heavy Industries  (KHI) has delivered the bulk carrier FJ Viola, with a capacity of 61,000 DWT, for F.J.Lines Inc. at the Dalian Cosco KHI Ship Engineering Co., Ltd. (DACKS).DACKS is located in Dalian City, China and operated jointly with China Cosco Shipping Corporation Limited.According to a press release from KHI, The vessel has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products.Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy…

Japan's Kawasaki Heavy Industries (KHI) has delivered the Phoenix Gaia, an 82,200 m3 capacity liquefied petroleum gas (LPG) carrier, for Phoenix Tankers Pte. Ltd.According to a press note from the shipbuilder, Phoenix Gaia is the 60th LPG carrier and the 11th vessel of the same type to be built by the company.This vessel adopts Kawasaki's indegenously developed bow shape called SEA-Arrow, which significantly improves propulsion performance by minimizing bow wave resistance.The release said that the main engine powering the vessel is an energy-efficient, electronically-controlled, ultra-long-stroke, two-stroke low-speed diesel engine.In addition…

Japanese shipbuilder Kawasaki Heavy Industries Ltd. announced that it delivered the bulk carrier Amis Treasure, with a capacity of 61,000 DWT  for Trobrian Wisdom SA.The delivery happened at the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), which is located in Dalian City, China and operated jointly with China COSCO Shipping Corporation Limited (China COSCO Shipping).The vessel has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products. Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy…

Japanese shipbuilder Kawasaki Heavy Industries Ltd (KHI)  has delivered the bulk carrier Amis Star, with a capacity of 61,000 DWT for Wisdom Marine Lines.Amis Star has overall  length of 199.90 m, molded breadth 32.24 m and  molded depth 18.60 m.The vessel has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products.Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy, including an energy-saving…

Japanese public multinational corporation Kawasaki Heavy Industries Ltd. (KHI) has delivered a 61,000 dwt bulk carrier newbuild, Gramos, to Gramos Navigation, in China.The delivery of the Ultramax took place at the Nantong COSCO KHI Ship Engineering (NACKS) on October 29, 2019, said a release from KHI.NAKCS is located in Nantong City, China and operated jointly by China COSCO Shipping and KHI.The vessel incorporates various energy saving technologies, which reduce both fuel consumption and emission of carbon dioxide (CO2), thereby complying with the Energy Efficiency Design Index (EEDI) Phase 2 requirements, said the shipbuilder.The Barbados-flagged bulker has a length of 199.9 meters and a width of 32.24 meters.

Panama-based Stiringaster Line has taken delivery of FJM Glory, a 61,000 dwt bulk carrier newbuilding.The delivery ceremony took place in China at the Dalian COSCO KHI Ship Engineering (DACKS) shipyard, jointly operated by Kawasaki Heavy Industries (KHI) and China COSCO Shipping.The 77,539 cbm vessel features a length of 199.9 meters, a width of 32.24 meters and can accommodate 25 people.The ship has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products. Four 30-ton deck cranes are installed along the center in between the hatch covers to enable cargo loading and unloading in ports that lack cargo handling facilities.The vessel employs various technologies to achieve maximum fuel economy…

Kawasaki Heavy Industries delivered the Maple Gas, a 82,200 m3 capacity liquefied petroleum gas (LPG) carrier, for Astomos Energy.The shipbuilder said that this is the 57th LPG carrier and the eighth LPG vessel of the same type to be built by the company.Maple Gas (length: 229.9 m, gross tonnage: 46,851) adopts Kawasaki's uniquely developed bow shape called SEA-Arrow, which significantly improves propulsion performance by minimizing bow wave resistance.The main engine powering the vessel is an energy-efficient, electronically-controlled, ultra-long-stroke, two-stroke low-speed diesel engine. In addition, the Kawasaki rudder bulb system…

Japanese public multinational corporation Kawasaki Heavy Industries (HKI)announced that it delivered the bulk carrier Divinegate for Indigo Marine Shipping at the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS).According to a release, the bulk carrier has a capacity of 61,000 DWT and 199.90 meter length. Its gross tonnage is 34,508. Its main engine is one set of MAN B&W 6S50ME-B9.3-TII diesel engine with maximum continuous output: 8,130 kW at 108 rpm.Dalian COSCO KHI Ship Engineering Co is located in Dalian City, China and operated jointly with China COSCO Shipping Corporation Limited (China COSCO Shipping). The vessel has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products.

London Offshore Consultants (LOC) Group announced the appointment of Nikos Benetis as Group Director of Hull & Machinery and Due Diligence Services.Nikos has been with LOC since 2017, previously in the role of Director of Financial Institution Advisory Services, and takes on his new role as part of the Group’s ongoing initiative to structure its shipping division to reflect the changes in the industry and client’s needs.According to a press release from the marine and engineering consultancy to the world’s shipping and offshore energy industries, Nikos has over 20 years’ experience in the Maritime and Finance Industries, which include several years at Lloyd’s Register and at RBS as Director of Distribution…

Diana Containerships has completed the previously announced sale of one of its Post-Panamax container vessels, the m/v Hamburg, with the delivery of the vessel to her new owners.The global shipping company specializing in the ownership of containerships said that part of the proceeds from the sale of the vessel were used by the Company to repay in full its existing indebtedness.The Company’s Chief Financial Officer and Treasurer, Andreas Michalopoulos, has commented that: “With the repayment in full of the Diana Shipping Inc. loan, the Company has no outstanding debt on its fleet of four modern container vessels."Andreas added: "The…

The pace and quality of oil spill research in the United States typically ebbs and flows as a function of two, if not three important variables. First, after the 1989 Exxon Valdez grounding, there was a flurry of activity to ramp up oil spill research because it had been dormant for so long. The need was recognized, with plenty of money made available. Primarily, this research centered on conventional spill remediation techniques – for example, a tanker or barge spilling oil – and not much else. Predictably, when memory of the spill faded, so did interest in research and funding followed.

Metal Shark won the contract to produce the U.S. Navy’s next-generation patrol boat, the PB(X), the replacement for the fleet of force protection boats currently in use with Navy Expeditionary Combad Command’s Coastal Riverine Forces (CRF). Subject to annual appropriations, the Navy intends to replace approximately 100 to 160 of its existing 25-ft. and 34-ft. CRF patrol boats with the larger and more modern PB(X) platform over the next 15 years. The Navy has placed an initial, immediate order for eleven of the new vessels.

International law firm Watson Farley & Williams (WFW) has advised private bank Berenberg on its acquisition, jointly with a Japanese financial institution, of a circa US$460m performing shipping loan portfolio from the Royal Bank of Scotland (RBS). WFW previously advised Berenberg on the acquisition of a similar US$300m portfolio from RBS in February 2017. Hamburg-based international investment and private bank Berenberg was founded in 1590 and is the world’s oldest merchant bank and the world’s second oldest bank overall. It is especially active in pan-European equity research, brokerage and capital markets transactions, in addition to private banking for wealthy customers and institutional asset management.

The collapsing maritime shipping industry is stoking another European banking headache, this time in economic powerhouse Germany, says a report in WSJ. While the Commerzbank, Germany’s second largest bank, reported earnings, warned that its losses on shipping loans could be as high as EUR600 million ($641 million) this year after nearly doubling last year to EUR559 million. Stephan Engels, Commerzbank’s chief financial officer (CFO) admitted that there was little immediate prospect of recovery. “Our view for 2017 is just as critical as it was for 2016, as far as shipping overall is concerned,” he said. “We still have -particularly for container ships – more new vessels coming on to the market than are being scrapped.

Japanese financial services firm Orix Corp said it was looking to buy more shipping loans in Europe after confirming on Monday that it would purchase $289 million worth of such debt from Royal Bank of Scotland in a landmark deal. European banks, major lenders to the shipping industry, have been reducing exposure to the sector because of the slump in the shipping industry and to meet stricter banking rules. Orix said it had agreed to acquire the loans from RBS, confirming a Reuters story on Friday, in what is likely to be the first major purchase of shipping loans in Europe by a Japanese player in recent years. "Orix views these current market conditions as a favourable investment opportunity," it said in a statement.

Japanese financial services firm Orix Corp has agreed to buy $290 million (272 million euros) worth of Greek shipping loans from Royal Bank of Scotland (RBS), Reuters reported quoting sources with direct knowledge of the deal. Reuters reported last month the British bank was close to selling at least $600 million worth of shipping loans to financial institutions including Orix. Germany's Berenberg Bank would purchase around $300 million of loans. Most of the loans Orix is buying from RBS are of investment grade and made to Greek borrowers, said the sources, who were not authorised to discuss the matter publicly. The sale is considerably smaller than the original $3bn deal to sell the whole of RBS' Greek shipping business to Orix…

Royal Bank of Scotland is close to selling at least $600 million worth of shipping loans from its portfolio, two sources familiar with the matter told Reuters. RBS, which is more than 70 percent state-owned, is still in the throes of a restructuring, which includes asset sales, job cuts and tackling multi-billion dollar charges to settle litigation and pay regulatory fines for past misconduct. The sources said buyers of the various shipping loan tranches included Japanese financial services firm Orix Corp , Germany's Berenberg Bank, Bank of America Merrill Lynch and asset manager Davidson Kempner. Bank of America and Berenberg declined to comment. Orix could not be reached for comment. Davidson Kempner and RBS declined to comment.

Royal Bank of Scotland has concluded agreements to sell at least $600 million worth of shipping loans from its portfolio as part of efforts to exit the sector, sources with direct knowledge of the deal told Reuters on Friday. RBS, which is more than 70 percent state owned, is in the middle of a restructuring, which includes asset sales, job cuts and tackling multi-billion dollar charges to settle litigation and pay regulatory fines for past misconduct. The sources said Japanese financial services firm Orix Corp has agreed to buy $290 million worth of shipping loans from RBS, while separately Germany's Berenberg Bank would purchase around $300 million of loans. Spokespeople for RBS, Orix and Berenberg all declined to comment.

The Royal Bank of Scotland has begun winding down its global shipping finance business, it said on Tuesday, ending efforts to sell it amid a worsening downturn across the freight industry. Chief Executive Ross McEwan is battling to complete a restructuring, which includes asset sales and thousands of job cuts, amid a low-interest rate environment that makes finding profitable new business tough. "In line with the bank's strategy to create a simpler, stronger, and more sustainable bank, better aligned to the needs of our customers in the UK and Western Europe, we are commencing the wind down of our shipping business," an RBS spokesperson said.

Trafigura has sold five oil vessels to a unit of China's Bank of Communications , ending the trading house's move into owning tankers, the company said on Friday. Under the deal, the five medium-range tankers, ordered by Trafigura in 2013 from a shipyard in China, were sold to Bank of Communications Financial Leasing Company Ltd and subsequently leased back to the Swiss trading house. Financial terms were not disclosed. "The ships were bought at low entry levels and we saw an opportunity to sell now. While we have a significantly growing cargo programme it is not a must for us also to own the steel," Trafigura global head of wet freight Rasmus Bach Nielsen said in a statement.

Coast Guard and partner agencies rescued five people Saturday from a capsized vessel about three miles off the coast of Carolina Beach. Sector North Carolina watchstanders in Wilmington received a mayday call at approximately 7:30 a.m. requesting help. -A C-130 Hercules aircraft crew and MH-60 Jayhawk Helicopter crew from Air Station Elizabeth City. -A 45-foot Response Boat-Medium (RBM) crew from Station Wrightsville Beach. -A 29-foot Response Boat-Small (RBS) crew from Station Oak Island. -16-foot skiff from Kure Beach Fire and Rescue. -A vehicle and jet ski from Carolina Beach Fire Department. The helicopter crew discovered a capsized 20-foot boat about three miles offshore at approximately 9:50 a.m.