International Seaways Acquires Two Suezmax Tankers
International Seaways announced it has entered into an agreement to acquire two Suezmax tanker newbuildings constructed at Hyundai Samho Heavy Industries shipyard. The vessels are expected to deliver to the Company by the end of July 2017. The transaction remains subject to customary closing conditions. International Seaways intends to fund the vessel acquisitions from available liquidity. Following the delivery of these two vessels…
Subsea 7 Acquires EMAS Chiyoda Subsea Assets
Subsea 7 S.A. said it has acquires certain businesses of EMAS Chiyoda Subsea (ECS) under a U.S. bankruptcy code Chapter 11 Plan of Reorganization, confirmed by the U.S. Bankruptcy Court for the Southern District of Texas and became effective on June 29, 2017. According to Subsea 7, it will pay less than $100 million in aggregate, including its contribution to the Debtor in Possession credit facility, to acquire the ECS businesses, the Ingleside spoolbase and other assets.
BWM Should Not Distort the Market: Intercargo
In view of the International Maritime Organisation’s (IMO) Marine Environment Protection Committee upcoming meeting (MEPC 71 during 3-7 July 2017), Intercargo re-iterates its welcoming the entry into force of the Ballast Water Management (BWM) Convention in September. Aspiring to the Convention’s effective implementation, our Association will be making MEPC 71 Committee aware of the critical challenges faced by the bulk carrier segment of the industry.
KOTC, GAC Fujairah in Husbandry Contract
GAC Fujairah has been awarded a husbandry contract by the Kuwait Oil Tanker Company (KOTC) to provide ship supply services, spare parts handling and a range of other logistical services to its vessels arriving in Fujairah, Khor Fakkan and Singapore anchorage. As part of global shipping, logistics and marine services provider GAC Group, GAC Fujairah worked in close cooperation with the Middle East Regional Office in Dubai and GAC Singapore to secure the deal.
HMM Meets Vietnamese Delegation
On June 29, Vice Minister of Transport in Vietnam, Nguyen Van Cong accompanied by delegates from Vietnam Maritime Administration (VMA) and Vietnam National Shipping Lines (Vinalines) visited Hyundai Merchant Marine(HMM). The delegates arrived Korea on 26th at the invitation of Busan Port Authority (BPA). HMM CEO, Yoo Chang-Keun and executives have attended the meeting, discussing various cooperative methods for port business in Vietnam.
MOL Bags Yamal LNG Charter Contract for Four Ships
Mitsui O.S.K. Lines (MOL) announced it has signed a long-term charter contract for four liquefied natural gas (LNG) carriers with the tank capacity of 174,000m3, which will be delivered and serve on Yamal LNG project in 2019 and 2020 onward, through a wholly-owned subsidiary of MOL. The four contracted carriers will serve as a transport of LNG transshipped by the project from Europe. MOL did not provide any additional information on the vessels.
New Global Industry Alliance Established to Support Low Carbon Shipping
Leading shipowners and operators, classification societies, engine and technology builders and suppliers, big data providers, and oil companies have signed up to a new Global Industry Alliance (GIA) to support transitioning shipping and its related industries towards a low carbon future. Thirteen companies have signed up to launch the GIA, under the auspices of the GloMEEP Project, a Global Environment…
India's Largest Container Port Trying to Recover from Cyber Attack
The National Cyber Security Coordinator Dr Gulshan Rai visited Jawaharlal Nehru Port Trust (JNPT) to assess the impact of the global cyber attack that has disrupted the operations of one of the container terminals at the port. He, together with Chief Commissioner Customs and Excise, Chairman-JNPT and Inspector General-Cyber Maharashtra held discussions with the officials of GTI Terminal, DP World and officials of JNPT. JNPT handles container traffic through four terminals.
Cargo Ship Runs Aground off Virginia
The U.S. Coast Guard said it is monitoring a 586-foot Thai-flagged cargo vessel that ran aground off Sewells Point in Norfolk, Via., Thursday. Watchstanders at the…
Aspin Kemp, MAN Diesel & Turbo Finalize Partnership
Canadian engineering firm Aspin Kemp and Associates Inc. (AKA) and German based engine and turbomachinery market leader MAN Diesel & Turbo SE have finalized an agreement between the two companies whereby MAN Diesel & Turbo steps in as a 40 percent shareholder in AKA. Through this new partnership, AKA said it will look to build its innovative potential with MAN in a broader market for power and energy solutions. Company co-founder Jason Aspin remains a controlling shareholder and CEO of AKA.
Concordia Charters Out P-MAX Tanker
Concordia Maritime said it has signed a contract to charter out the P-MAX tanker Stena Paris to “one of the world’s largest oil and gas companies.” The contract is for one year…
d’Amico Chooses Sealink Premium Plus VSAT
Italian ship owner and long-term Telemar customer d’Amico Group has selected Marlink’s Sealink Premium Plus VSAT service to enhance connectivity across its fleet of over 50 product tankers and dry cargo vessels. Sealink Premium Plus provides global connectivity for d’Amico’s business and vessel operations, in addition to supporting crew welfare. With Sealink Premium Plus, the d’Amico fleet will receive…
US Sanctions Chinese Shipping Firm over North Korea Ties
The U.S. Treasury Department said on Thursday it was placing financial sanctions on two Chinese nationals and a Chinese shipping company over their ties to North…
Wicker’s SHIPS Act Included in Defense Bill
U.S. Senator Roger Wicker, R-Miss., Chairman of the Senate Seapower Subcommittee, announced that he successfully added his “SHIPS Act” proposal to help the Navy reach its requirement of a 355-ship fleet in this year’s “National Defense Authorization Act” (NDAA). The Senate Armed Services Committee unanimously approved the national defense bill, authorizing $640 billion in overall funding for America’s servicemembers, military installations and industrial base.
Global Shipping Feels Fallout from Maersk Cyber Attack
Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry. About 90 percent of world trade is transported by sea, with ships and ports acting as the arteries of the global economy. Ports increasingly rely on communications systems to keep operations running smoothly…
Rosneft May Build LNG Plant in Far East on Its Own
Russian energy giant Rosneft may build a liquefied natural gas (LNG) plant in the far east using exclusively its own resources and gas reserves, Rosneft vice president Vlada Rusakova said on Thursday.
ALMACO's CEO is Bullish on Maritime
Where many see challenges, Vilhelm Roberts, CEO and President of ALMACO Group sees opportunity, as his company has carved a niche in providing turnkey accommodation spaces and food handling areas serving the global maritime and offshore markets. He discusses the company’s strategy and future with Maritime Reporter. “We were born global,” said Roberts. The mother company is in Finland, and he leads the company from the company’s office in Florida along with his CFO who is in the office in France.
LNG Marine Fuel Institute Launched in Canberra
Port Hedland Mayor, Camilo Blanco, and the Town of Port Hedland’s CEO, David Pentz, attended the launch of the LNG Marine Fuel Institute at Parliament House, Canberra on Wednesday, June 21. The Institute, which was opened by The Honorable Josh Frydenberg MP, Federal Minister for the Environment and Energy, hopes to see Australian LNG as the primary fuel for marine transportation, powering the road, rail and mining industries.
Weak US Imports Push European Gasoline East
Unusually bloated gasoline inventories in the U.S. during peak summer driving season has kept the transatlantic arb barely workable. EIA data indicates that gasoline imports into the U.S. East Coast (PADD 1) for June averaged 549 kb/d so far, down by 15.4 percent m-o-m. As such, an atypical influx of LR tankers carrying gasoline from Europe have been fixed to the East in recent weeks. At least 6 LR2 and LR1 tankers loaded with gasoline are heading from the ARA region to AG/Singapore in June.
NYK, Kyushu Electric Power Partner on LNG Transport
Japanese firms NYK and Kyushu Electric Power Co. Inc. say they have reached an agreement to partner in various fields, including liquefied natural gas (LNG) transport. According to NYK, the agreement will allow Kyushu Electric Power to use vessels from the shipping company’s fleet for short-term LNG transport, enabling NYK to improve its profitability through efficient vessel allocation and Kyushu Electric Power to improve its flexibility in LNG transport.