Marine link
 

MARITIME PARTNERS

Navios Maritime Charter Restructuring with HMM

MSC Cristina. Photo: Scheepvaartwest

 Navios Maritime Partners has reached an agreement with South Korean shipping company Hyundai Merchant Marine to cut the hire rate of five container vessels chartered out to HMM by 20%.   Pursuant to the charter restructuring documentation executed on July 15, 2016, it has been agreed that the hire rate of five Container vessels chartered out to Hyundai Merchant Marine Co., Ltd. (HMM) will be reduced by 20%, as follows:   With effect from (and including) July 18, 2016 until (and including) December 31, 2019, hire rate shall be reduced to $24,400 per day pro rata. With effect from (and including) January 1, 2020, hire rate shall be restored to the rate of $30,500 per day pro rata until redelivery.   In exchange under the charter restructuring agreement, the Company received: $7.7 million principal amount of senior, unsecured notes, amortizing subject to available cash flows, accruing interest at 3% per annum payable on maturity in July 2024; and 3.7 million freely tradable shares of HMM.    In August 2016, Navios Partners sold the 3.7 million shares of HMM generating net cash proceeds of approximately $21.3 million.   In June 2016, Navios Partners agreed to sell to an unrelated third party the MSC Cristina, a 2011 South Korean-built Container vessel of 13,100 TEU, for a total net sale price of $125.0 million, with delivery expected by the first quarter of 2017, subject to signing of definitive documentation.  


Navios Partners Buys Five Rickmers Containerships

Owner and operator of dry bulk and container vessels Navios Maritime Partners L.P. said it has acquired five containerships from Rickmers Maritime Trust Pte for $59 million.   The five 4,250 TEU vessels are employed on charters with a net daily charter rate of $26,850 into 2018 and early 2019. The vessels, which are expected to generate approximately $45 million of EBITDA during the charter periods, will be sold to Navios Maritime Containers Inc.  


Navios Partners Acquires Capesize Vessel

Navios Maritime Partners L.P., an international owner and operator of dry bulk and container vessels, said it has agreed to acquire one 2009 Japanese-built Capesize vessel of 180,274 dwt for a purchase price of $28.3 million. The vessel is expected to be delivered to Navios Partners' owned fleet by August  2017. The dry bulk vessel is expected to generate approximately $3.7 million of annual EBITDA based on the current rate environment (Clarkson’s 1-year time charter rate for


Navios Maritime Acquires One Capesize Vessel

Image: Navios Maritime Partners

 Navios Maritime Partners, an international owner and operator of drybulk and container vessels, announced that it has agreed to acquire one 2010-built Capesize vessel of 178,132 dwt for a purchase price of $27.5 million.   The vessel is expected to be delivered to Navios Partners' owned fleet during the third quarter of 2017.   The vessel is expected to generate approximately $3.7 million of annual EBITDA based on current rate environment (Clarkson’s 1-year time


Navios Apollon Released from Captivity

Navios Maritime Partners L.P. announced that the Navios Apollon and her crew were released on Feb. 27 2010. Navios Partners reported that the Captain and crew are healthy and will be reunited with their families shortly. Navios Partners thanks the Captain, the crew and their families for their fortitude through this trying ordeal. Many assisted the company in achieving this outcome. Navios wanted to recognize the special efforts of the Chinese Embassy in Greece, and the Ambassador personally


CNO Participates in Seapower Symposium

web_071017-N-7437F-102.jpg

  More than 200 delegates representing 100 countries attended the largest The Chief of Naval Operations (CNO), Adm. Gary Roughead, participated in the 7th Regional Seapower Symposium for the Mediterranean and Black Sea Countries Oct. 15-17 in .   The symposium's theme of "Navies Promoting Dialogue & Cooperation in a Comprehensive Perspective," is similar to the maritime strategy with its emphasis on the importance of enhancing cooperation and building partnerships


Partners Ink MOU for Indonesia Maritime Logistics

LOUIS DREYFUS ARMATEURS Group (LDA) has signed a Memorandum of Understanding (MOU) with palm oil plantation company Golden Agri-Resources (GAR) to develop maritime logistics business opportunities in Indonesia.   The MOU signed between GAR and LDA focuses on developing logistics in Indonesia for the next five years with planned acquisitions and investments amounting to around $100 million.   In 2014, LDA and GAR established a joint venture company dedicated to transport LDA and


WFW Advises ING Bank on $340m Loan Facility for Euronav

wfw logo.jpg

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV. The facility is comprised of a $192m term loan facility and a revolving credit facility of up to $148m. Euronav plans to use the funds to refinance four Suezmax tanker vessels, finance the acquisition of four very large crude carrier tankers from Maersk and for general corporate purposes


NAVEUR's Guidance – Executing Maritime Strategy

From Commander, U.S. Naval Forces Europe - Commander, 6th Fleet Public Affairs Commander, U.S. Naval Forces Europe (NAVEUR)/Commander, U.S. Naval Forces Africa Guidance for 2008 was released Jan. 8, by Adm. Mark Fitzgerald, Commander U.S. Naval Forces Europe. The guidance emphasizes Fitzgerald's priority to implement the Maritime Strategy by "building partnerships and advancing partner nations' self-sufficiency."


APS, Swift Returns to Ghana in Support of NOAA, Fisheries

By Mass Communication Specialist 2nd Class Michael Campbell, Partnership Station Public Affairs High Speed Vessel 2 Swift arrived in Tema, March 30 for its second visit here, as well as its seventh engagement visit as part of Africa Partnership Station (APS). Swift will host a group of 40 Ghanaian fisheries observers in partnership with the National Oceanic and Atmospheric Administration's (NOAA) National Marine Fisheries Service, who will be leading a training workshop.


The Maritime Cloud becomes Maritime Connectivity Platform

Photo: EfficienSea2

 Maritime Connectivity Platform, or MCP, is the new name for what was previously known as the Maritime Cloud.    The team behind the Maritime Cloud has decided to change the name of the communication framework. The new name, Maritime Connectivity Platform (MCP)


Robert Clyne Gets Outstanding Professional Achievement Award

John Artzen, Chairman of the U.S. Merchant Marine Academy (USMMA) Alumni Association (far left), Rear Admiral Mark H. Buzby, USN, Ret., Maritime Administrator (third from left), and Rear Admiral James Helis, USMS, USMMA Superintendent (far right), present the Outstanding Professional Achievement Award to Robert Clyne, ABS Senior Vice President, General Counsel and Corporate Secretary. Photo: ABS

 Robert (Bob) Clyne, ABS Senior Vice President, General Counsel and Corporate Secretary , was recognized with the Outstanding Professional Achievement Award for his distinguished accomplishments as a graduate who best exemplifies the finest tradition of Kings Point – Acta Non Verba


Giaever to Take Over as CFO at NAT, NAO

 Bjorn Giaever will take up his position as the new chief financial officer (CFO) at Nordic American Tankers Limited (NAT) and Nordic American Offshore Ltd. (NAO) from October 16, 2017.   Giaever joins NAT/NAO from maritime focused investment bank Fearnley Securities AS


EU NAVFOR Train AMISOM’s Marine Unit

Photo: EU NAVFOR

 The crew members from ESPS Rayo continued the regional cooperation EU NAVFOR has established with the AMISOM Marine unit off the coast of Mogadishu.   This was the third time this year that EU NAVFOR has had the opportunity to exercise and train with AMISOM forces


Full-electric Autonomous Ferry Concept Launched

(Image: KONGSBERG)

KONGSBERG said it has signed a Research & Innovation (R&I) contract with technology acceleration organization PILOT-E for the development of zero emission, full-electric, autonomous ferry concepts. The overall vision for the PILOT-E Autonomous Ferry concept is to develop a state-of-the-art


Nordic American Appoints New CFO

Photo: Nordic American Offshore Ltd

 Nordic American Tankers (NAT) and Nordic American Offshore (NAO) has appointed Bjørn Giaever (50) as Chief Financial Officer (CFO).    He is expected to join us later this year and as early as possible. Giaever joins NAT/NAO from the well reputed firm of Fearnley


Speedcast, Danaos Partner on Maritime Digitalization

Speedcast International Limited, the provider of remote communication and IT solutions, and Danaos Peripherals announced a strategic alliance agreement under which the two companies will combine maritime communications with advanced application management developed by Danaos


Capital Product Bags 3 MR Charters

Photo: Capital Product Partners L.P.

 Capital Product Partners, an international diversified shipping company, announced that it has secured new time charter employment for three Medium Range (MR) Product Tankers.   The M/T 'Amadeus' (50,108 dwt, IMO II/III Eco Chemical/Product Tanker built 2015


MAN Engines Expands Sales & Service Network

(Photo: MAN Engines)

MAN Engines said it is expanding its sales and service network for marine engines with bases in the U.K., Poland, Sweden and Chile. These partnerships will build on existing commercial ties between the service companies and MAN Engines, some of which go back decades.  


HMAS Ballarat Returns Home

Family and friends of the crew of HMAS Ballarat wave to their loved ones as the ship pulls alongside to her home port of Fleet Base West, Western Australia, at the completion of a four month South East Asia deployment. Photo: Royal Australian Navy

 HMAS Ballarat has sailed into her home port of Fleet Base West in Rockingham, Western Australia, to a large gathering of family and friends after completing a three month deployment to South East Asia and; participating in Exercise TALISMAN SABER off the Australian coast.  


NAMEPA to Honor Founding Chairman Maitland

The North American Marine Environment Protection Association (NAMEPA) announced that Clay Maitland will receive the organization’s Lifetime Achievement Award at an awards dinner in New York on October 26.   Maitland, who is a Managing Partner of International Registries


Nimitz Carrier Strike Group in Arabian Gulf

Photo: United States Navy

 The Nimitz Carrier Strike Group (CSG) is carrying out strike sorties from the Arabian Gulf in support of Operation Inherent Resolve (OIR).    The first aircraft launched from USS Nimitz (CVN 68) was an F/A-18E Super Hornet assigned to the "Argonauts" of Strike Fighter


'Team Damen' Unites Dutch and Australian Industry

Artist’s impression of the Damen 1800 OPV  (Photo: Damen)

Australian Maritime Systems Group is entering into a joint venture with one of Europe’s leading marine technology companies as part of a tender for Australia’s next giant defence contract.   The Brisbane-based company is partnering with Dutch firm Alewijnse Marine to support the


EMSP Welcomes EC Directive on Seafarers

Photo:  European Community Shipowners’ Associations (ECSA)

 The European Maritime Social Partners (EMSP) warmly welcome the European Commission’s adoption of their proposal to update their Agreement on the International Labour Organisation (ILO) Maritime Labour Convention, 2006 (MLC).   


EC Measures to Improve Conditions for Seafarers

Image: Twitter Page for News and information from the European Commission.

 The European Commission (EC) has adopted a proposal for a Directive which aims at improving the working conditions of seafarers on board EU-flagged vessels.   The proposal transposes an agreement between social partners in the maritime transport sector into EU law.   






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright