Concordia Maritime Charters Two More MR Vessels
Swedish tanker owner Concordia Maritime has chartered in two more MR (ECO) vessels, while also extending the contracts for two of the currently chartered MR (ECO) vessels by a further year. A contract to charter out the P-MAX tanker Stena Performance has also been signed. The contractual partner is a large global oil company and the vessel will be used primarily for niche traffic in the Middle East.
Eagle Bulk Shipping Adds New Ultramax
U.S. based owner of Handymax dry bulk vessels Eagle Bulk Shipping has announced that it has taken delivery of its newly acquired vessel, the M/V New London Eagle, a 2015-built CROWN-63 Ultramax. The acquisition has been funded by cash on-hand and new debt of USD 8.6 million. This loan, which equates to approximately 40% of the purchase price, represents an upsize to the existing Eagle Bulk Ultraco…
Chabahar Port "Win-Win" Situation for India, Iran
Chabahar Port was very important for both India and Iran, and offered a win-win situation to both countries, Indian Minister of Shipping Nitin Gadkari said. A government press release said that Gadkari held bilateral talks with Dr Abbas Akhoundi, Iranian Minister of Roads and Urban Development in New Delhi. He said the port would be a growth engine for India as it opened up an alternate route for exports to Afghanistan and Russia.
TEN Sells, Leaseback Two Suezmax Tankers
Greece-based Tsakos Energy Navigation (TEN) has announced that it has sold for $65.2 million gross, through a five-year sale and leaseback transaction, the 2005-built Suezmax tankers Eurochampion 2004 and Euronike. The sale proceeds have been used to reduce debt and add $16.0 million of cash to TEN’s balance sheet. The vessels were delivered to their new owners in late December 2017. “Following the 15-vessel renewal program that was completed last quarter…
German Boxship Collides with Crane at Keelung Port
A German-flagged container ship Hansa Meersburg ran into a crane while berthing at Keelung Port, Taiwan resulting in the damage of containers and port infrastructure, CNA reported. The 2007-built freighter, operated by German-based Leonhardt and Blumberg hit and damaged a berth crane valued at NT$200 million (US$6.78 million) as it was sailing into the harbor. In addition to the damage sustained by the crane, a pier was also damaged, suffering a hole three meters wide and two meters deep.
Andreas Silcher Negotiates LNG Carrier Contracts
Partner Andreas Silcher in Haynes and Boone’s London office represented TMS Cardiff Gas in its contract with Hyundai Heavy Industries of Korea (HHI) for the construction of one 174,000 cubic meter LNG carrier with XDF propulsion, plus an option for a second vessel. In a press release, TMS Cardiff Gas called the order the first in the company’s X Carrier Series of orders, which expands the company’s fleet of managed vessels to 10.
Bahri Dry Bulk Secures Newbuild Finance
Bahri Dry Bulk, a business unit of global transportation and logistics leader Bahri, has announced that it has secured a Sharia-compliant funding of SAR 360 million (USD 96mln) from Bank Albilad, one of the fast-growing banks in Saudi Arabia. The fund is to finance the purchase of four new bulk carriers as part of an agreement signed by the company in 2017 with Hyundai Mipo Dockyard (HMD), a member of Hyundai Heavy Industries (HHI) Group…
GasLog Partners Eyes USD 97mln through IPO
US based LNG carrier GasLog Partners is expecting to raise up to USD 97 million by selling shares to finance future fleet expansion. The New York-listed spinoff of LNG shipper GasLog has announced that it has priced its public offering of 4 million units of its 8.200% Series B Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units, liquidation preference US$25.00 per unit at a price to the public of US$25.00 per unit.
Attack on Saudi Oil Tanker Thwarted
The Saudi-led coalition fighting in Yemen said on Wednesday it had thwarted an attack on a Saudi oil tanker over the weekend by Houthi fighters near the Red Sea port of Hodeidah. The coalition destroyed a boat carrying explosives as it headed towards the tanker on Saturday, coalition spokesman Colonel Turki al-Maliki said. Yemen lies on the southern mouth of the Red Sea, one of the world's most important trade routes for oil tankers…
Iranian Warship Crashes at Caspian Port, Two Crew Missing
An Iranian warship crashed into concrete wave breakers at a port in the Caspian Sea and two of its crew members are missing, according to local media reports. The 100-meter long warship…
Woodruff Named American Maritime Partnership President
The American Maritime Partnership (AMP) today announced the election of Matt Woodruff of Kirby Corporation as its new President. He succeeds Thomas A. Allegretti, President & CEO of The American Waterways Operators. “Leading the American Maritime Partnership – which speaks for the half a million American men and women whose employment depends on the domestic maritime industry – is a great honor. Our vibrant domestic maritime industry is an essential foundation for America’s economic…
Trump Offshore Oil Proposal Could Unlock 65 Bln BOE
The Trump administration's proposal to open up almost all of U.S. offshore waters to oil and gas drilling could unlock up to 65 billion barrels of oil equivalent (boe), attracting billions of dollars in investment, consultancy Rystad Energy said. Last week, U.S. Interior Secretary Ryan Zinke said a draft program would make over 90 percent of the outer continental shelf's total acreage available for leasing to drillers, a national record.
After Florida, more States Press US for Offshore Drilling Exemptions
Governors and other officials from several U.S. coastal states ramped up pressure on the Trump administration on Wednesday to exempt their waters from an offshore drilling plan, hours after the Interior Department granted Florida's request to opt out. The backlash could complicate President Donald Trump's efforts to expand oil and gas production offshore. A proposed leasing plan unveiled last week aims to open up all U.S. coasts to drillers over the next five years.
NEXT GENERATION Marine Power & Propulsion Conference
The NEXT GENERATION Marine Power & Propulsion Conference is being held at the Grand Harbour, Southampton on April 18 and 19, 2018. All sectors are invited to participate in this unique event that focuses on viable solutions for sub IMO / sub 24 meter vessels. As most new power and propulsion technology is proving to be scalable this knowledge is becoming increasingly relevant to vessels of all sizes.
De Poli Tankers Extends VSAT Deal with Marlink
Dutch ship owner De Poli Tankers BV has extended its contract with Marlink, securing high-bandwidth global communication using the Sealink Plus service for its fleet of eight chemical tankers and two gas tankers. De Poli Tankers' in-house ITC company, Maritime Performances BV, chose to retain the Sealink Plus service for the future as it combines high-bandwidth VSAT with unlimited L-band back-up in a single easy to manage bundle, Marlink said.
Royston Expands UK Engineering Facilities
Royston Diesel Power has doubled the size of its UK engineering facilities to support continuing global growth in its marine engine service business and new technology development. As part of a £500,000 ($676,000) investment program the company has opened an additional 15,000 sq. ft. of engineering workshop premises alongside its existing headquarters on the banks of the River Tyne. As well as increasing the company’s engine repair and maintenance capability…
GE Marine Gas Turbine for New US Navy Destroyer
GE’s Marine Solutions said it has shipped a LM2500 marine gas turbine propulsion module that will help power the U.S. Navy’s 75th DDG Arleigh Burke-class destroyer Jack H. Lucas (DDG 125), the company reported at the Surface Navy Association’s 30th Annual Symposium. Shipbuilder Huntington Ingalls Industries’ Ingalls Shipbuilding division will construct this new destroyer with U.S. Navy Flight III upgrades incorporated.
Maritime Piracy Activity is at a 22-year Low -Report
Global maritime piracy activity fell to its lowest level in over two decades, according to the latest International Maritime Bureau (IMB) report. The 180 incidents of piracy and armed robbery against ships reported to the International Chamber of Commerce’s (ICC) IMB in 2017 was the lowest annual number since 1995, when 188 incidents were reported. According to the IMB, pirates boarded 136 vessels in 2017, while 22 attacks were attempted, 16 vessels fired upon and six vessels hijacked.
Fairbanks Morse to Power US Navy's LPD 29
Fairbanks Morse said it has been awarded a contract to build and deliver the main propulsion diesel engines (MPDE) that will power LPD 29, the U.S. Navy’s thirteenth San Antonio landing platform dock (LPD) class ship. Construction of the engines will begin in 2019 for scheduled delivery to Huntington Ingalls Shipbuilding in Pascagoula, Miss. in 2020. Fairbanks Morse will also support installation, testing and sea trials for the vessel.
Rhine in Germany Reopens as Water Levels Recede
The river Rhine in Germany was reopened to shipping on Wednesday after a fall in water levels, the German inland navigation authority said. The river was closed to inland shipping at the beginning of the week after rain and melting snow raised water levels. High water means vessels do not have enough space to sail under bridges, but drier weather means water levels have dropped enough to enable navigation to resume, an official said.