Armada Ship Sailing for Australian Waters
On a frosty and unseasonably sunny Galician morning, the crew of Spanish Armada ship F-105 ESPS Cristóbal Colón, embarked with a detachment of five Royal Australian Navy personnel, departed the historic Naval station of Ferrol, bound for Australia. Australian Defence Attaché to Southern Europe, Captain Ray Leggatt and the Commander of the Naval Action Group One, Rear Admiral Spanish Armada, Alfonso Perez de Nandares, farewelled the frigate under the command of Commander Ignacio Cuartero Lorenzo.
EU Council Adopts Port Reform
On 23 January, the Council of Ministers adopted the Port Regulation, which concludes the procedure at first reading. The European Parliament voted on 14 December 2016. The legal act will be signed by both institutions in mid-February and published in the EU Official Journal a few weeks later. It will enter into force 20 days after its publication. The principles set out in the Regulation will apply 2 years after the entry into force.
Teekay LNG Completes Norwegian Bond Issuance
Teekay LNG Partners has successfully issued NOK 300 million (USD 35 million) in new senior unsecured bonds through an add-on to its existing Norwegian bonds due in October 2021. All payments will be swapped into a US dollar fixed-rate coupon of approximately 7.75%. The net proceeds from the bonds are expected to be used for refinancing of existing bonds and/or general partnership purposes, which may include funding installment payments on future newbuilding deliveries.
Star Bulk Carriers Raises $51.5mln
Star Bulk Carriers Corp announced the execution of agreements with affiliates of Oaktree Capital Management, L.P. and Senator Investment Group LP to sell Oaktree and Senator an aggregate of 6,310,272 of its common shares, at a purchase price of $8.154 per share. The private placement, which is scheduled to close by early February 2017, is expected to result in aggregate gross proceeds to Star Bulk of approximately $51.5 million.
Dynagas LNG Declares Cash Distribution
Dynagas LNG Partners LP, an owner and operator of LNG carriers, has announced that its Board of Directors has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units for the period from November 12, 2016 to February 11, 2017. The cash distribution is payable on or about February 13, 2017 to all preferred unit holders of record as of February 5, 2017.
Regulating Polar Shipping
International Maritime Organization (IMO) Secretary-General Kitack Lim today (23 January) spoke to delegates at the Arctic Frontiers conference about new regulations for ships operating in polar waters. With more and more ships navigating in polar waters, IMO has addressed international concern about the protection of the polar environment and the safety of seafarers and passengers with the introduction of the Polar Code, which entered into force on 1 January this year.
Danelec ECDIS Products Receive Type Approval
DNV GL has awarded a type approval certificate with EU Wheelmark for Danelec Marine DM700 and DM800 G2 ECDIS models. The type approval signifies that the products…
RSC Bio Solutions Expands
RSC Bio Solutions recently announced the addition of several key team members in the business development and sales departments in a continuing drive to support its growing client base. The company also announced a new market-oriented organizational structure with two focused teams around the marine and land markets. “Deeper segment experience and knowledge will support our growth objectives and our…
South Carolina Container Volumes Climb 5%
South Carolina Ports Authority reported a 5.4 percent increase in 20-foot equivalent unit (TEU) volume fiscal year to date, with 1,029,450 TEUs handled since the period began in July.
US Aims to Prevent China from Taking Territory in International Waters
The new U.S. "I think the U.S. is going to make sure that we protect our interests there," White House spokesman Sean Spicer told a news briefing. Spicer was responding to a question as to whether Trump agreed with comments by his Secretary of State nominee, Rex Tillerson, on Jan. 11 that China should not be allowed access to islands it has built in the contested South China Sea. Tillerson's remarks…
Shipowner OSG, Former CFO, Charged over Tax Evasion
The U.S. Securities and Exchange Commission said it charged on Monday shipping conglomerate Overseas Shipholding Group (OSG) and its former chief financial officer…
New Towboat Delivered to Lorris G. Towing
M/V Cole Guidry, the newly designed Bollinger inland towboat, was delivered to owner Lorris G. Towing on December 16, 2016. The M/V Cole Guidry, designed and built by Bollinger Shipyards, is a 2,000 HP inland towboat measuring 80 feet by 36 feet with a 10-foot draft. The vessel is powered by three Caterpillar C18 Tier 3 engines rated at 670 HP each, supplied by Louisiana Machinery. The reduction gears are Twin Disc Model MGX517ODC with a ratio of 6:1.
Genting Dream to Homeport in Singapore
Asian luxury cruise line Dream Cruises said it will homeport its inaugural vessel, Genting Dream, year-round in Singapore from December 3, 2017. Christened in November 2017, Genting Dream currently sails from Hong Kong or Guangzhou. With the move, the 151,300-metric-ton cruise ship will tap new markets, calling at more than 10 ports in Singapore, Malaysia, Indonesia, Thailand and Vietnam. Significant…
Japan's Orix Looking for More European Shipping Debt
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…
New ABS Guide for LNG Bunkering
New Guide provides standards for growing LNG bunkering vessel sector. ABS, a provider of classification and technical services to the marine and offshore industries…
Mexico Set to 'Mirror' Policy on Any US Trade Tax Change
Mexico's economy minister said his country was ready to renegotiate trade rules with the United States and that any change in U.S. tax policy that affected imports…
Abu Dhabi Ship Building Adds New Dry Dock
Abu Dhabi Ship Building PJSC (ADSB) held a ceremony to inaugurate its new floating dry dock at its location in Zayed Port. The floating dock, which began servicing vessels in July 2016, has greatly enhanced ADSB’s commercial service offering, allowing the company to service larger ships and tap into new customers in industries such as oil and gas, the company said. To date, the dry dock has received 20 customers for routine dry docking, electrical and mechanical works.
Georgia Ports See Double-digit Growth in December
The Georgia Ports Authority marked 12.3 percent container volume growth in December, moving 292,172 twenty-foot equivalent container units, an increase of 32,099 TEUs compared to December 2015, a record for the GPA. Roll-on/Roll-off cargo mirrored that growth, with a 12.3 percent increase (7,000 units) in passenger vehicles and heavy equipment handled at Colonel's Island terminal in Brunswick and Ocean Terminal in Savannah. Georgia's deepwater ports moved 63,967 Ro/Ro units last month.
Navios Maritime Midstream Partners Announces Cash Distribution
Navios Maritime Midstream Partners L.P. announced that its Board of Directors has declared a cash distribution of $0.4225 per unit for the quarter ended December 31, 2016.
Watermakers Add Safety, Convenience, Value
Boats are a lot like homes: upgrades and enhancements add to their comfort and livability, and increase their value. FCI Watermakers explores how adding a watermaker to a vessel is an investment that pays dividends in terms of safety and convenience, and sets it apart when it's time to sell. The ability to make pure, fresh water while at sea is liberating. Gone are the days of water frugality. With a watermaker, there's more than enough for drinking, bathing, cooking and refilling supplies.