Marine Link
Friday, October 20, 2017

CLASSIC CHARTERS

SBM Offshore Nominates Wood as CFO

SBM Offshore has nominated D.H.M. Wood as a member of the management board and chief financial officer (CFO) to replace current CFO, P.M. van Rossum, who is set to retire.   The company will hold an Extraordinary General Meeting (EGM) on November 30, 2016 where it will be proposed that Wood be appointed as a member of the management board for a period of four years until the 2021 AGM. Van Rossum will then step down as management board member and CFO.    Wood has worked at Royal Dutch Shell plc since 1993 in various financial and management positions, including as Vice President Finance & Planning Exploration (at Shell Upstream International) and most recently as CFO of Showa Shell Sekiyu K.K. in Japan, a company listed on the Tokyo Stock Exchange.    Wood obtained his degree in Classics in 1993 at Oxford University (Wadham College) and became a Fellow of the Chartered Institute of Management Accountants in 2006.   Wood will join the company per October 1, 2016.

EPSITRON Line Carries GL Approval

EPSITRON GL 1200x1200

  EPSITRON CLASSIC power supplies and electronic circuit breakers now carry GL marine and on-and-offshore approval. Offering an ultra-slim power supply package solution featuring economically-priced 1-, 2- and 3-phase modules, EPSITRON CLASSIC power supplies feature an identical housing profile, and wide input and voltage range. 787 Series EPSITRON circuit breakers offer excellent features and reliable protection against overload and short circuits

OceanConnect and Starsupply Launch Hedging Service

OceanConnect President Thomas Reilly today announced the launch of a new risk management service aimed at helping shipowners and suppliers protect their profits. "Financial derivatives have become an important tool in the risk management arena. OceanConnect, in partnership with Starsupply Petroleum, will offer the first derivative brokerage service focused exclusively on the world's bunker markets," Reilly said.

New Shipyard for Belfast's Working Waterfront

According to the Marine Public Broadcasting Network, a new shipyard is opening in Belfast. Boat builders, led by J.B. Turner and partners Taylor Allen of Rockport Marine and Steve White of Brooklyn Boatyard, will construct composite and classic wooden yachts. The yard will have a retrofitting business, a full-service marina, some unique shipping ventures.    Source: Marine Public Broadcasting Network  

Star Cruises of Malaysia to Order Metso DNA System

MS Star Pisces cruise ship will be operated by a Metso DNA automation system from March 2013.

The Star Cruises of Malaysia has chosen Metso to refurbish the automation system on its MS Star Pisces cruise ship that sails in the Far East.   The vessel's new automation will increase reliability and customer comfort. After docking in Hong Kong in February, the vessel will continue its cruise program from March 2013 onwards. Metso will supply its state-of-the-art Metso DNA system to replace the present Damatic Classic automation system that it had supplied earlier

New Wärtsilä Subsidiary Trades Classic Engine Parts

Wärtsilä announced it has established a subsidiary to trade spare parts for classic four-stroke Wärtsilä engines. QuantiParts, fully owned by Wärtsilä, will operate from the Netherlands and serves customers in the marine, locomotive and power plant industries worldwide.   QuantiParts trades original engine manufacturer (OEM) spare parts for selected mature Wärtsilä medium- and high-speed four-stroke engines, such as Deutz, Stork, Bolnes, Sulzer A/S

Kold-Draft Provides Quality Cubes

The Kold-Draft 350 Series "Classic" cuber produces up to 320-lbs. of ice per day, and is engineered with rugged unibody construction. Its time-proven design ensures reliable operation, greater water efficiency and maximum ice making capacity. Serviceability is from the front and the use of environmentally friendly R-404a refrigerant offers added efficiency. Kold-Draft's GT Series Slimline cuber measures only 28 x 3/8-in. wide and is engineered and built to fit in small areas

Blount-Barker Signs Contract For Sea Wolf Marine Tug

This past August, Blount-Barker Shipbuilding signed a contract with Sea Wolf Marine of Bayonne, N.J. to build a 2,400-hp, 85-ft. (25.9 m) double chine, all welded twin-screw tug set for delivery in April 2002. Bristol Harbor Group has been contracted to modify the Blount classic 85-ft. (25.9-m) tug design to take advantage of CNC (computerized numeric controlled) cutting. The tug will be powered by two CAT 3512 engines; 4:1 twin gears and two 65kW generators will supply ship service power

McGinnis Appointed VP Of Marketing

American Classic Voyages Co. has appointed Scott G. McGinnis vice president of marketing for its Delta Queen product group, which includes Delta Queen Steamboat Company and Delta Queen Coastal Voyages. McGinnis is responsible for all marketing activity on behalf of Delta Queen Steamboat Company's four riverboats, which cruise throughout the U.S. Heartland, South and Pacific Northwest, and Delta Queen Coastal Voyages' two ships

Boat Recycling

Some excursion vessels happily seem to live forever. They change owners, change paint colors, endure countless renovations, bare scars from misguided attempts to "improve" her propulsion system… but the boat lives on. Such is the case of a 1969 vintage two-deck paddle wheeler built in 1969 by the Dubuque Boat and Boiler Company. The vessel has had many names. But the one most associated with the vessel is Bonnie Belle

Global Ship Lease New Time Charter with CMA CGM

Photo: CMA CGM

 Global Ship Lease (GSL), a containership charter owner, announced that it has agreed to a new time charter with CMA CGM for an 8,063 TEU containership, the 2005-built OOCL Tianjin, which will be renamed GSL Tianjin.    The vessel will be chartered for a period of three to eight months (at the charterer's option) at a fixed rate of $13,000 per day, commencing immediately upon re-delivery from its current charter on or around October 25, 2017.  

Antwerp Port in Full Sustainable Transition

File Image: The Port of Antwerp

 The first Sustainability Congress was held on Tuesday 10 October with the launch of the fourth Sustainability Report which fully incorporates the 17 Sustainability Development Goals of the United Nations.   On this occasion the Port of Antwerp community also presented its revamped website with case studies and the latest information on the sustainable transition currently being implemented by companies in the port.   

Keller Shifts Gears

(Photo: Keller)

100-year young German manufacturers finds success in demanding dredging and maritime sectors   Satisfaction in overall powertrain reliability often comes down to individual components, starting with the gearbox and gear wheels. To this end C. u. W Keller GmbH & Co.KG, has made investment in its products and processes – $41 million over the last 15 years – to ensure that it remains a strong link in the propulsion chain

Scorpio Gets Financing for Kamsarmax Vessel in Japan

Photo: Scorpio Bulkers Inc.

 Scorpio Bulkers Inc announced that it has entered into a financing transaction in respect of one of the Company’s Kamsarmax vessels with unaffiliated third parties in Japan.     The cost of the financing is equivalent to an expected fixed interest rate of 4.24% for 10 years.  If converted to floating interest rates, based on the expected weighted average life of the transaction, the equivalent margin at current swap rates would be LIBOR + 2.07%.  

Scorpio Tankers Signs Sale-Leaseback with Bocomm

Photo: Scorpio Tankers

 Scorpio Tankers has agreed to sell and leaseback five 2012 built MR product tankers (STI Amber, STI Topaz, STI Ruby, STI Garnet, and STI Onyx) to Bank of Communications Financial Leasing  (Bocomm Leasing).     As of today, three of the five transactions have been completed, which has increased the Company’s liquidity by approximately $21 million in aggregate after the repayment of the outstanding debt.  

Diana Shipping TC Contract for Crystalia With Glencore

M/V Crystalia. Photo: Diana Shipping Inc.

 Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia.    The gross charter rate is US$11,100 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to about 15 months.    The charter is expected to commence later today

Finnlines Sells Ro-pax Vessel to Grimaldi Group

Finnlines Plc said it has sold a 1999-built ro-pax vessel MS Finneagle to the Grimaldi Group.   The 18-year-old MS Finneagle was chartered out to the Grimaldi Group from June 2017, and it will be delivered to the Grimaldi Group in October 2017.   The freight capacity of the vessel is 2,459 lane meters, and passenger capacity is 835 passengers.   Finnlines said the sale is part of its “strategy to optimize the use of [its] vessels and routes in order to improve its

Vitol Returns for $8 Bln Loan Refinancing

Geneva-headquartered energy and commodities trader Vitol has signed an US$8bn loan refinancing of credit facilities agreed in October 2016, the company announced on Wednesday.   The revolving credit facility, which is used for working capital and general corporate purposes, comprises a three-year tranche and a 364-day tranche. The three-year tranche totals over US$7bn.   ABN AMRO Bank, Commerzbank, Credit Agricole CIB

Bahri Rolls Out BahriBunge Dry Bulk

Following announcement in Feb 2017, new joint venture plans to ship over 5 million metric tons of dry bulk commodities in its first year of operation. Photo: Bahri

Following the announcement of the joint venture agreement by Bahri, a global leader in transportation and logistics, and Koninklijke Bunge, a wholly-owned subsidiary of Bunge Limited, a global agribusiness and food company, the two companies recently inaugurated the offices of BahriBunge Dry Bulk Ltd. in Dubai, UAE.    In celebration of the occasion and reveal of the new company’s logo, Mr. Abdulrahman M

Ernst Russ Acquires Ships Financed by ABN AMRO

Image: Ernst Russ AG

The Ernst Russ Group has successfully completed another transaction and acquired two container ships with capacities of 2,450 TEU and 2,785 TEU and an average age of just under 12 years.    Global Transportation & Logistics provided financing to Ernst Russ. Purchase price for the two container ships is undisclosed.   The transaction was structured and carried out by Ernst Russ Maritime Management GmbH & Co. KG as the maritime asset manager of the Ernst Russ Group

Antwerp to Implement “Zero Pellet Loss”

Photo: Port of Antwerp

 Unique collaboration between industry, logistics and transport to keep plastic out of the environment.   Plastics are found everywhere in modern life. The raw materials of which plastic products are made are polymers, usually delivered in the form of small pellets. Antwerp is the main polymer hub in Europe for production, handling and distribution of plastic pellets.    Every year, millions of pellets find their way via Antwerp to other hubs in Europe

US Charters Cruise Ship to House Hurricane Relief Workers

Carnival Fascination (Photo by Andy Newman/Carnival Cruise Lines)

 The U.S. government has chartered another commercial cruise liner to serve as a floating hotel for relief workers in the U.S. Virgin Islands in the aftermath of hurricanes Irma and Maria.    Carnival Cruise Line said it reached an agreement with the Federal Emergency Management Agency (FEMA) that will see the 2,052-passenger vessel Carnival Fascination docked in St. Croix to provide housing and meals for relief workers during a four-month charter from October 15 to February 3

Genco Opens Singapore Office

(Photo: Genco Shipping & Trading Limited)

Genco Shipping & Trading Limited said it has opened an office in Singapore and has appointed Ivo Kempenaer as Vice President and Commercial Director, Head of Major Bulks.   “Genco continues to take important steps to optimize our commercial strategy and enable the company to more fully capitalize on its leading and sizeable operating platform. We are excited to establish a Singapore presence and grow our footprint globally

BBC Chartering, Jumbo Shipping Team Up in Global Project Alliance

Photo: BBC Chartering

 Two market leaders in their respective fields, Jumbo and BBC Chartering have agreed to an exclusive strategic co-operation; the “GLOBAL PROJECT ALLIANCE”, effective immediately.   This unique co-operation between two family-owned companies brings together established and reputed heavy-lift expertise and massive fleet capacity. The alliance is a mutually-shared aspiration to provide comprehensive solutions to customers on a global scale.  

Subsea 7 Acquires Normand Oceanic

 Normand Oceanic. Photo: Subsea 7 S.A.

 Subsea 7 S.A. has announced an agreement to acquire the remaining 50% shareholdings in its equity accounted joint ventures, Normand Oceanic AS and Normand Oceanic Chartering AS, from Solstad Farstad ASA for a nominal cash consideration.    Effective from the date of the transaction, the Group will become the sole owner of Normand Oceanic, a flex-lay and heavy construction vessel that is being managed by Solstad Farstad while under long-term charter to a third party. 

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

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