Predetermined News

Wilhelmsen Ships Service announced it has entered into an agreement to acquire tank and cargo hold cleaning company Navadan.Wilhelmsen Ships Service will take 100% control of Navadan, which will retain its brand and operate as a fully owned subsidiary for the first period after the completion of the agreement. Completion of the transaction is subject to predetermined conditions and is expected to take place in the first quarter of 2023.“Navadan have built a strong position as experts within their field.

Wilhelmsen Port Services has entered into an agreement with Vopak to acquire 100% of maritime services provider Vopak Agencies and 50% of Diize. "Vopak Agencies and Diize are highly complementary and a perfect match for the global reach of Wilhelmsen Port Services’ maritime network of 2 200 ports," Wilhelmsen Port Services said.Wilhelmsen said that Vopak Agencies had a strong track record within both hub services and port agency within the tanker segments in Europe and extensive experience within their field.

Heavy lift shipping and offshore transport and installation contractor Jumbo Offshore reports it has executed the transport and installation of a torpedo pile mooring system, including mooring for flexible risers, umbilical for the Libra Consortium's Guanabara floating production storage and offloading unit (FPSO). While this type of installation previously required the mobilization of up to three anchor handling tugs, Jumbo carried out the entire contract using only its J-class offshore installation vessel Fairplayer…

Wilhelmsen announced it has entered into an agreement with Seven Seas to acquire 100% of its shares in cargo hold cleaning subsidiary Stromme.Wilhelmsen will acquire the company in Norway from parent Seven Seas including operations in Germany and Singapore, as Stromme will transfer all of its people, business and assets into Wilhelmsen Ships Service. Stromme will retain its brand and operate as a fully owned subsidiary of Ships Service. Completion of the transaction is subject…

In the William M. (Mac) Thornberry National Defense Authorization Act (NDAA) for Fiscal Year 2021, Congress amended the Port Infrastructure Development Program (PIDP) administered by the U.S. Maritime Administration (MARAD) to reserve to smaller ports 18% of the amounts appropriated for grants under the PIDP, and increased this percentage to 25% in the NDAA for FY 2022. This replaced the minimum dollar threshold for PIDP grants of the lesser of $10 million or 10% of the total amount appropriated for the PIDP for a fiscal year.

Classification society Indian Register of Shipping (IRClass) has published Guidelines on Remotely Operated Vessels and Autonomous Surface Vessels, providing a broad framework and philosophy for stakeholders involved in design, construction and testing of such vessels with varying levels of autonomy.These Guidelines cover design philosophy, risk assessment, system requirements including cyber resilience, network architecture, data and software assurance. A separate chapter focuses…

The National Transportation Safety Board (NTSB) completed its investigation of the November 22, 2020, accident involving barges towed by the Trent Joseph and George C and the Barataria Bridge near Barataria, Louisiana.The towing vessels Trent Joseph and George C were towing two barges southbound in the Barataria Waterway. While passing through the open Barataria Bridge, the second barge contacted the bridge’s swing span. The bridge, which was the only means of road access for the community of Barataria, was damaged and remained unusable until November 28.

Dutch maritime heavy lift and transportation services firm Jumbo has completed the first of two contracts supporting two of Subsea 7’s EPIC projects for Total in Angola: CLOV MPP and Zinia Phase 2.The company's Jumbo Vision vessel was used for the first campaign, called CLOV MPP,  picking up an empty 24-meter diameter carousel from Subsea 7’s headquarters in Dusavik, Norway. The H800 Class vessel then sailed to Halden, Norway to load a subsea umbilical, with the carousel and umbilical having a combined weight of 1,255 tonnes.

A great deal of research related to student learning styles has emerged in recent years. Through that research strong arguments have been made that more kinesthetic learning methods, such as hands-on or experiential learning, are more effective than more traditional methods like the lecture. In the maritime field, technology such as simulation, has provided us with tools to harness the power of experiential learning; however, those tools alone cannot ensure students are learning…

Biofouling control measures for ships are usually selected to match their operational profiles, and so what happens when constant service ships become idle for prolonged periods or operate at slower service speeds? Will they become vulnerable to fouling, and what measures can be taken to reduce the risk? These questions can best be answered by understanding the biology of the waters in which the vessels are located, the ecology of the different immersed parts of the ship, the biofouling control methods that have been applied or in use…

Seaspan Corporation has taken delivery of four 12,000 TEU vessels, each having commenced five-year time charters with a global liner, the ship owner announced Thursday.Three of the eco-modern containerships were built in 2018, and the other in 2017.Seaspan, a wholly owned subsidiary of Atlas Corp., announced last month it closed four flexible finance lease transactions with total proceeds of approximately $340 million. At the conclusion of the initial 10-year term, Seaspan is obligated to purchase the vessels at a predetermined price.Bing Chen…

International provider of marine drybulk transportation  Safe Bulkers said that two of its vessels - MV Kypros Sky and MV Kypros Spirit - were sold and leased back recently on a bare-boat charter basis for a period of eight years.The Monaco-headquartered company said that with purchase options are in its favor  commencing three years following the commencement of the bare-boat charter period and a purchase obligation at the end of the bare-boat charter period, all at predetermined purchase prices.The company informed that MV Panayiota K and MV Agios Spyridonas were also sold and leased back in January 2020 on a bare-boat charter basis for a period of six years…

The Monaco-headquartered provider of marine drybulk transportation services Safe Bulkers Safe Bulkers has sold and leased back eight ships to refinance $105.2m in loans coming due in 2023 and 2025.The New York-listed bulker owner said that it will receive $158.3m in proceeds from the transaction.Under the arrangements, two vessels were leased back, under bareboat charter agreements, for a period of six years and six vessels were leased back under bareboat charter agreements, for a period of eight years.Four of such arrangements contemplate a purchase obligation at the end of the bareboat charter period and purchase options commencing three years following commencement of the bareboat charter period…

Capital Product Partners (CPLP), a Greek shipping company engaged in the seaborne transportation, has agreed to acquire three 10,000 TEU sister container ships for USD 162.6 million from Capital Maritime & Trading Corp.The ships, M/V Athos, the M/V Aristomenis and the M/V Athenian, were built in 2011 at Samsung Heavy Industries S. Korea.The vessels are under long-term time charters with Hapag-Lloyd which will expire in April 2024, said a press note from the shipping company.The gross charter rate for each vessel currently amounts to $27,000 per day, increasing to $28,000 per day for the M/V Aristomenis from October 2020, and from July 2021 onwards for the M/V Athos and the M/V Athenian.

Monaco-headquartered provider of marine drybulk transportation services Safe Bulkers reported a net loss for the second quarter, contrary to the market’s expectations for profit.The net revenue at USD 45.5 million for Q2 was hurt by a 3% decline from the second quarter of 2018. For the second quarter, Safe Bulkers reported an adjusted loss of $0.01 per share, compared to earnings of $0.02 per share in the same period of last year.Dr. Loukas Barmparis, President of the Company, said: “In the first half of 2019 the charter market was weak. Since then the Baltic exchange Dry Index has risen to an average of 1,904 for the 3rd quarter to date and as a consequence we are now entering into charters at much higher rates.

The Convention on the International Regulations for Preventing Collisions at Sea (COLREGS) governs the intensity of navigation lights, requiring a minimum intensity in candelas according to a prescribed intensity formula. Changes are coming.IMO Resolution MSC.253 (83) for larger vessels sets performance standards for navigation lights, navigation light controller and associated equipment, requiring a masthead light, sidelights and a stern light installed on board a ship not less than 50 meters in length should be duplicated or be fitted with duplicate lamps…

The U.S. Coast Guard (USCG) is warning people in the waters off the Rockaways to stay away from any tar balls or oil sheens they might see and is investigating to see if they're related to an oil leak from a vessel a few days ago.USCG, along with partner agencies, are responding to reports of oil sheen and tar balls, on the ocean side of Coney Island and Long Island, from Norton Point to Atlantic Beach.Members of the Unified Command for Goethals Oil Spill continue responding to a report of sheening and tar balls received Saturday from New York State Department of Environmental Conservation (NYDEC).During shoreline assessments conducted Sunday afternoon…

The state-of-the-art DPS i-Series Differential Positioning System has won the ‘Innovative Dredging Technology of the Year’ category at the Dredging and Port Construction Awards 2018.The judges highlighted the unique system as a powerful tool for dredging contractors who can now leverage the same abilities for high-precision applications as offshore operators; using sensor technology combined with satellite positioning systems to improve not just the position of dredging vessels but also their efficiency.Ines Nastali, the editor of Dredging and Port Construction, a tightly focused business and technical journal for the dredging industry celebrating its 50th anniversary this year…

Damen Shipyards Group has carried out tank testing of its 70-metre Fast Crew Supplier (FCS) 7011. The tests were carried out at the Delft University of Technology (TU Delft) with a 2.8-metre long model.Intended for long distance crew transfer operations, the Damen FCS 7011 will offer the offshore oil & gas industry a safe and cost-effective alternative to helicopter flights.In developing the FCS 7011, on-board comfort has been one of Damen’s central design parameters. Consequently, the company has executed a large number of simulations to investigate seakeeping characteristics.“We have used these simulations to see which hull form gives the optimum comfort levels,” explains Albert Rijkens, Damen Product Portfolio Manager Research.

Maintaining mission-critical winches, windlasses and cranes: the four must-have lubrication steps that all operators need to keep gears going. In the marine industry, winches, windlasses and cranes are the work horses of deck and harbor operations. They can be used to set anchors, position floating drill rigs, raise and lower sensitive scientific equipment, tow a ship, load/unload heavy cargo or even land fish. They are as vital to the mission of a vessel or a port as the main engine is to a ship.

Netherlands based towage operator KOTUG said it is exploring new ways to use aerial drone technology in its tug operations, as part of a plan to achieve safer and more efficient working conditions. While interest in drone technology has been gaining momentum in the maritime sector, stakeholders continue to explore new applications, from aerial deliveries to surveying and inspection. KOTUG has applied for a patent for its new plan, which involves using a drone to connect the towline to an assisted vessel.

If you’ve been working in the marine insurance industry lately, you will have heard about “blockchain” at some point; it is the electronic, distributed ledger, notoriously known for enabling the use of cryptocurrencies such as Bitcoin and Ether. But the blockchain technology’s utility goes beyond cryptocurrencies, potentially offering creative ways to solve other real-world problems. Within blockchain ledgers, the use of ‘smart’ contracts essentially converts contractual obligations into lines of computer protocols, which facilitate, verify, or enforce its performance.

Safe Bulkers has reported a loss of $1.6 million in its second quarter ended June 30, 2017 as compared to $9.0 million, during the same period in 2016. Net loss for the six months of 2017 was $4.9 million as compared to $26.8 million, during the same period in 2016. The remaining order book consisted of one newbuild vessel; its  wholly-owned subsidiary Pinewood Shipping Corporation has contracted to acquire Hull No. 1552 with scheduled delivery date in 2018 and has agreed to issue $16.9 million of preferred equity to an unaffiliated investor upon delivery. In June 2017, Safe Bulkers exercised options under the sale and leaseback agreements to purchase two Kamsarmax class vessels at an aggregate predetermined price of $43.8 million.