Tanker Firm DHT Net Asset Value Above Frontline's Bid
Tanker firm DHT Holdings estimated its net asset value at $5.7 per share on Tuesday, above a non-binding all-share offer made by competitor Frontline , which is currently worth about $5 per share. Frontline, controlled by shipping tycoon John Fredriksen, made an unsolicited offer for its rival during the weekend to acquire all outstanding shares in U.S. listed DHT. On Tuesday's DHT's management generally refrained from making further comments on the Frontline bid during an earnings call.
3GA Marine, Alfa Laval Partner for BWTS Retrofits
Naval architecture and marine engineering company 3GA Marine Ltd has teamed up with marine technologies company Alfa Laval to provide engineered turnkey solutions to support ship owners in their response to the International Maritime Organization’s (IMO) ballast water management regulations. “The retrofitting of ballast water treatment systems in existing vessels is challenging because of their size and required capacity to maintain ballast operations.
VOLT Orders Ship for Aquaculture Operations
In December 2016 Damen Shipyards Group signed a contract with Norway-based VOLT Service AS for a Utility Vessel (UV) 4312 to be delivered in Q1 2018. The vessel, to be named VOLT Processor, will undertake delousing operations and other services at Norwegian salmon farms. Remøy Management AS has been involved in the development of the project and will perform the building supervision. Remøy Management will be the manager of the vessel when delivered.
Greece Sets Bid Deadline for Thessaloniki Port Sale
Greece has given investors until March 24 to submit binding bids for a majority stake in its second biggest port, Thessaloniki Port, two sources close to the matter said on Tuesday. The sale of the 67 percent stake in the port and other privatisations are a key part of the country's current EU/IMF international bailout deal, the third since 2010. But the programme has fallen behind schedule due to political resistance and red tape…
SCF's New Icebreaker Named Gennadiy Nevelskoy
Built by Arctech Helsinki Shipyard, the Russian flagged Gennadiy Nevelskoy (deadweight 3,000 metric tons) will home port in Saint Petersburg and was commissioned by SCF under a long-term agreement with Sakhalin Energy. She is the first of four vessels for operations at the Sakhalin-2 project; the other three are ice-breaking standby vessels (IBSBVs) that have a smaller deadweight (2,000 metric tons), but offer enhanced functionality and a higher people-on-board capacity.
Aker Wins Hook-Up Deal for Johan Sverdrup Field
Aker Solutions won a contract from Statoil for the hook-up of the riser platform for the Johan Sverdrup field, Norway's largest offshore development in the past three decades. The company will work closely with subcontractor Kvaerner on joining together the platform's seven modules, which will be transported to Norway in the second quarter of 2018. The scope also covers planning, management and prefabrication.
Seafarers' Fatigue Report Launched at IMO
InterManager, the trade association for in-house and third party ship managers, together with The Warsash Maritime Academy, has presented the findings of its fatigue study, Project MARTHA, to The International Maritime Organization (IMO). Speaking at the presentation last night, Capt Kuba Szymanski, Secretary-General of InterManager urged the maritime industry to take notice of the findings as the industry recruits aspiring seafarers.
Stolt-Nielsen's Profits Slip
Stolt-Nielsen Limited today reported unaudited results for the fourth quarter ended November 30, 2016. Net profit attributable to shareholders in the fourth quarter was $22.8 million…
US Navy Launches Full Speed Ahead Training
The chief of Naval Personnel announced Jan. 30 new training for 2017 that expands on existing efforts to prevent destructive behaviors across the fleet. The training entitled, Full Speed Ahead, is designed to reinforce the Navy's core attributes and help build a strong foundation for professional and resilient Sailors. It follows Chart the Course and Bystander Intervention training that was conducted the past two years.
Great Lakes Shipyard Secures Geo Gradel Contract
Great Lakes Shipyard was awarded a contract for drydocking and repairs by Geo Gradel & Co. for Tug JOHN FRANCIS on January 18, 2017. The tugboat was hauled out using the 770-MT Mobile Marine Travelift on January 19, 2017. Geo Gradel & Co. also awarded a contract to the Shipyard for drydocking and repairs for Hopper Barge Mobro 2000 on December 14, 2016. This contract includes significant metal repairs due to due to damages caused during the season.
GPH to Acquire cruise terminal
International law firm Watson Farley & Williams (“WFW”) has advised Turkey-based cruise port operator Global Ports Holding (“GPH”) on the acquisition of stakes in…
Strong Fleet Growth to Keep LNG Shipping Rates in Check
2017 will be a tough year for LNG shipowners as rates are expected to remain under pressure, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. This year has started on a positive note for LNG shipowners as spot rates have firmed up to the West of Suez because of seasonal demand for LNG. Many analysts have started writing positive stories about the LNG shipping market believing that the momentum in rates will continue.
CMA CGM Rolls Out TURAF EXPRESS Service
Shipping group CMA CGM has announced the new service offer TURAF EXPRESS which directly links Turkey, Tunisia and Libya via Malta. It is the first CMA CGM line to offer a direct connection between Northern Turkey (Istanbul, Gemlik and Aliaga) and the main Libyan ports (Misurata and El Khoms) in order to develop short sea lines intra-Mediterranean activities. Thanks to the call in Malta, a CMA CGM‘s hub, transshipment connections are offered towards worldwide markets with other group’s services.
Diana Inks Time Charters with Koch
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Seattle. The gross charter rate is US$11,700 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to about seventeen (17) months.
Aus Defence Chief Launches ‘Navy and the Nation’
Despite the oft sung words in the national anthem, Australians live often detached from the reality that “…our home is girt by sea”. In Canberra on 30 January, senior Defence leaders gathered at the Australian War Memorial to help launch a book that highlights Australia’s reliance on sea trade and a formidable Navy to protect sea lanes and prosperity. In the presence of His Excellency, General the Honourable Sir Peter Cosgrove AK…
Indian Navy's TROPEX 17 Gets Underway
The Indian Navy’s Annual Theatre Readiness Operational Exercise (TROPEX) got underway on 24 Jan 17. The month long exercise will have ships and aircraft of both the Western and Eastern Naval Commands, as also assets from the Indian Air Force, Indian Army and the Indian Coast Guard exercising together. The exercise is being conducted off the Western Seaboard. The last edition of the exercise was conducted in January 2015.
DMA Cutting Back Special Rules for Danish Shippers
A benchmark analysis shows that Denmark has 33 special requirements for ships flying the Danish flag, a number which the Danish Maritime Authority (DMA) seeks to scale back as it aims to create a more favorable environment for shippers. “Denmark is characterized by quality shipping and Deloitte’s benchmark analysis confirms that Denmark is a good place to conduct maritime business,” said DMA Director General Andreas Nordseth.
New Cutting Machines for US Navy Shipyard
Profile Cutting Systems has completed the installation of two large Plasma & OxyFuel Cutting Machines for a U.S. Navy shipyard. Each system features dual Lincoln 400-amp Plasma systems, infinite rotation triple Oxyfuel beveling torches and introduced OxyFuel Cutting Torches. The oxygen and fuel mixtures for the Cutting Torch are totally CNC controlled, require no tools for tip changes, have internal automated height adjustment and automated spark ignition.
Antarctic Rescue Mission Underway
Emergency responders have launched an urgent rescue mission to Antartic waters to evacuate a cruise ship passenger who is suspected to have suffered a stroke early Monday morning. Working closely with the U.S. Antarctic Program and the vessel’s operator and crew, Rescue Coordination Centre New Zealand (RCCNZ) is coordinating the medevac after receiving a call from the expedition cruise ship MV Ortelius located in the Ross Sea, off the Antarctic ice shelf, 3,600 km south of New Zealand.
US Maritime Advisory System Established
The new U.S. Maritime Advisory System establishes a single federal process to expeditiously provide maritime threat information to maritime industry stakeholders, including vessels at sea.