HMM Acquires 20% Stake in Long Beach Terminal
South Korean shipping line Hyundai Merchant Marine Co. (HMM) said it will buy a fifth of the company that runs the biggest container terminal at Long Beach Total Terminals International terminal (TTI), Calif., the U.S.’s second-largest port. HMM announced that its board of directors decided to buy a 20-percent stake in TTI and equipment-leasing firm HTEC for a combined US$15.6 million. HMM will now become the No. 2 stakeholder in TTI after Geneva-based Mediterranean Shipping Co (MSC).
Skuld Hires Cargo and Marine Property Head
Marine insurance provider Skuld announces the appointment of Paul Knighton as global head of marine cargo and marine property. He will join Skuld Syndicate 1897 in the summer. Knighton will enhance Skuld’s well-established marine cargo and marine property portfolio by building its offering to clients. He will focus predominantly on developing a total solution product for ports, terminals and freight logistics operators.
Bahri Profits Fall
National Shipping Company of Saudi Arabia (Bahri), the exclusive oil shipper for Saudi Aramco, made a net profit of 327.8 million riyals ($87.4 million) for the three months to Dec. 31. That compares with 566.4 million riyals in the fourth quarter of 2015. For the year ending December 31, 2016, Bahri has reported a net profit of SR1.76 billion ($469.3 million). The company registered net revenue of SR6.78 billion ($1.8 billion)…
Scorpio Tankers Secures $172m for Eight Vessels
Tanker carrier Scorpio Tankers has landed a loan deal for USD 172 million. The money will finance 60 percent of eight new MR product tankers which are currently under construction in South Korea. The company said in a press release that it has received commitments for a loan facility of up to $172 million from a group of financial institutions including Macquarie Bank Limited (London Branch), DekaBank Deutsche Girozentrale (DekaBank)…
TGS Hires Polarcus for Europe
Polarcus has received a letter of award from TGS-NOPEC Geophysical Company, a marine seismic data acquisition specialist, for acquisition of 30,000 square kilometers of 3D multi-client data in Europe. Approximately 20,000 sq.km. will be acquired in 2017 utilizing two Polarcus vessels and its innovative XArray(TM) multiple source acquisition method to deliver extremely efficient, high quality broadband data. The project will commence early in Q2 2017. The remaining 10,000 sq.km.
Cosco Hands Over Salvage Vessel, Bulker
Cosco Corporation Singapore said that Cosco (Dalian) Shipyard Group Co, a 51% owned unit of its subsidiary, has recently delivered a salvage lifting vessel to its Chinese customer and a bulk carrier to its European customer. De Bo 3, the 17,000 dwt salvage lifting vessel, was handed over to its Chinese buyer. It measures 159.6 meters in LOA (length of all), 38.8 meters in breadth and 10.9 meters in depth.
Tata to Invest in Swan LNG Project
Tata Realty and Infrastructure Ltd (TRIL) is taking 10 percent stake in a Rs. 5,900 crore ($867 mln) floating LNG import terminal being set up by Nikhil Merchant led Swan Energy in Gujarat.
Carnival to Build Two New Cruise Ships with Fincantieri
Two new ships to be built for company’s Holland America Line and Princess Cruises brands will help meet growing demand for cruise vacations and enhance the fleet. Carnival Corporation & plc announced that it has signed a memorandum of agreement with Italian shipbuilder Fincantieri S.p.A. to build two new cruise ships with final contracts expected to be executed in early 2017. The two new ships are designated for the company’s Holland America Line and Princess Cruises brands.
Norwegian Shipping Firm Denies Polisario Accusation of Illegal Shipment
A Norwegian shipping firm on Thursday denied a tanker it manages had violated a European court ruling after Western Sahara's Polisario movement accused it of illegally…
Polar Star Arrives at McMurdo Station, Antarctica
The crew of the Coast Guard Cutter Polar Star arrived at the National Science Foundation’s McMurdo Station Tuesday after cutting a resupply channel through more than 60 miles of Antarctic ice in the Ross Sea. By carving a navigable path through seasonal and multi-year ice, the Polar Star assists in the annual delivery of operating supplies and fuel for two of NSF's three U.S. research stations in Antarctica.
Israel Bolsters Navy to Protect Offshore Oil & Gas
Offshore energy platforms a potential target; Israel accepting bids on 24 new exploration blocks. Israel is boosting spending on its navy to better protect offshore oil and gas deposits and secure a large maritime zone that abuts that of its neighbour and enemy, Lebanon. The navy asked in 2013 for an increase in its budget of $700 million to build up its systems and $100 million annually to maintain them, though the defence ministry declines to say how much it has since received.
Asia Dry Bulk-Capesize Rates to Hold Steady
Brazil-China rates hit 15-month high for second time this year. Freight rates for large capesize dry cargo ships on key Asian routes could hold steady or slip slightly next week after unexpectedly climbing this week on strong cargo volumes, ship brokers said. "It is a case of two oceans. In the Atlantic, Vale has been active from Brazil, and volumes from Saldanha Bay in South Africa are steady," said a Singapore-based capesize broker on Thursday.
Van Oord inks Offshore Windfarm Deal
Van Oord has been awarded the contract for East Anglia ONE offshore windfarm by ScottishPower Renewables (part of the Iberdrola Group) for the transport and installation of 102 three-legged jacket foundations. The East Anglia ONE offshore windfarm is located in the southern North Sea, 45 kilometers southeast of the town of Lowestoft, United Kingdom. The offshore wind farm will have 102 Siemens 7 MW wind turbines, with a total capacity of 714 MW.
HDASCO Returns to Le Havre
Starting February 2017, HDASCO Line provides a new commercial offer between HAROPA – Port of Le Havre and many Iranian and Iraqi ports. HDASCO Line (Hafez Darya Arya Shipping Company), also named HDS lines, is the Iranian national shipping company specialized in container transport and a subsidiary of IRISL Group (Islamic Republic of Iran Shipping Lines). This new service offers very competitive transit times: 19 days between Le Havre and Bandar Abbas for example.
Diana Shipping Charters out Two Bulkers
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$12,000 per day, minus a 4.75% commission paid to third parties, for a period of about twelve (12) months to maximum fifteen (15) months. The charter is expected to commence on January 24, 2017.