Moody's Rates Sovcomflot Ba2: Negative Financial Outlook
Moody's Investors Service says it has confirmed the Ba2 corporate family rating (CFR) and the Ba2-PD probability of default rating (PDR) of Sovcomflot JSC with $800 million of rated debt affected. Concurrently, Moody's has confirmed Sovcomflot's Ba3 senior unsecured issuer rating and the Ba3 senior unsecured rating assigned to the $800 million Eurobond issued by SCF Capital Limited, which is a 100% indirect subsidiary of Sovcomflot (Sovcomflot guarantees the Eurobond).
Wallenius Wilhelmsen Wins Melbourne Bid
Wallenius Wilhelmsen Logistics (WWL) says that its subsidiary MIRRAT has been announced as winner in its bid to operate automotive terminal 'Melbourne Australia'. Port of Melbourne Corporation (PoMC) have selected Melbourne International Ro-Ro Automotive Terminal (MIRRAT) for the development of the automotive and Roll-On Roll–Off (RoRo) terminal in Webb Dock West. WWL explains that a world class terminal for the Webb Dock West project will benefit Melbourne…
NYK Stolt Order Chemical Parcel Tanker Pair
NYK Stolt Shipholdings says it has ordered two 12,500 dwt parcel tankers from Usuki Shipyard in Japan. NYK explains that a parcel tanker is a versatile chemical tanker that can transport various types of cargoes at the same time, and these two new vessels are the ninth and tenth vessel ordered, following the eight that NSSH currently holds and operates. The two vessels, which will be delivered from the shipyard in July 2016 and September 2016 respectively…
Europe SECA SOx Emissions Compliance: 'Musketeer Agreement'
The Danish Mariime Authority (DMA) informs that a number of North Western European countries have made a commitment in Copenhagen to cooperate on making the control of ships’ sulphur emissions more efficient. The DMA describes the various countries' commitment as being an 'international musketeer' agreement [readers will call to mind Alexander Dumas's three musketeers and their "All for One and One for All" vow].
Global Ocean Trade: Latest Shipbuilding Orders
China & Japan shipbuilders scoop the pool of international shipbuilding orders according to the latest Clarkson Hellas S&P Weekly Bulletin. Clarkson Hellas says that Pan Ocean has placed an order for two firm 207,000 dwt Newcastlemaxes at New Times, with both vessels due to deliver within the second half of 2016. Also in China, Conti Reederei have extended their order for 64,000 dwt Ultramax to a total of 20 vessels by declaring a further eight options.
Australian Government Urged to Safeguard Nation's Maritime Skills
The Australian Shipowners Association (ASA) informs it has urged the Abbott Government to be careful in its consideration of the Productivity Commission Report into Tasmanian shipping and freight, as there are still concerns about any recommendation to deregulate access to coastal shipping services. ASA explain that the retention of the Tasmanian Freight and Bass Strait Passenger Vehicle Equalisation Schemes is a sensible decision that has been well received by ASA.