Marine Link
Friday, October 20, 2017

NORDIC MARINE

Clipper Vessels Certified by Lloyd’s Register

Kristian Morch (left) and Ian Revell.

Danish shipping company joins vanguard of ship operators using the 50001 energy management standard. On Friday in Copenhagen, Lloyd’s Register presented Clipper Fleet Management with ISO 50001 certification issued by LRQA, Lloyd’s Register’s provider of independent business assurance. “To us, the ISO 50001 certification is a valuable recognition and documentation that we’re doing the right things within fuel efficiency and energy management,” says Kristian Morch, Group CEO, Clipper Group. “Going through the certification process has made us further streamline our fuel efficiency management processes, and we see the certification as a natural step in our continuous focus on reducing our fuel consumption and environmental impact.” The ISO 50001 standard specifies requirements for establishing, implementing, maintaining and improving an energy management system. It can be seen as a superstructure to the mandatory Ship Energy Efficiency Management Plans (SEEMP), a requirement by IMO (International Maritime Organization) and establishing a mechanism to improve the energy efficiency of a vessel. “It is clear that some leading companies can see the value of adopting this ISO standard. 50001 helps with regulatory compliance and in demonstrating environmental actions. It also helps deliver bottom line savings

Algae-X Standard Equipment on All New Nordic Tugs

Algae-X International has announced its agreement with Nordic Tugs, to integrate the Algae-X Fuel Decontamination Technology into the fuel systems of the company's diesel-powered vessels. Mr. Shelton is incorporating Algae-X technology with traditional filtration to fulfill his goal of providing owners of Nordic Tugs with maximum reliability systems. Algae-X provides Optimal Fuel Quality and Peak Engine Performance and prevents fuel filter clogging and engine failure.

Nordic Tankers Joins Nordic Exchange

Nordic Tankers, a Danish shipping company, has its starting point back in 1984. The company cooperates with many other companies within the international shipping industry. Nordic Tankers is Listed on the Copenhagen Stock Exchange joins the Industrials Sector on the Nordic Exchange. Nordic Tankers has experienced a significant growth in terms of earnings and capital. The earnings raised in connection to the listing on the Nordic Exchange will be used to develop the company further

Nordic Tankers Marine Chooses Transas Marine Course

Transas-logo.gif

Nordic Tankers Marine (Denmark) has chosen Transas Marine solutions for the ECDIS Training of its officers. Transas Marine has supplied 35 sets of Transas ECDIS Computer Based Training to Nordic Tankers Marine. Mr. Hanus Mikkelsen, Director Marine HR, Nordic Tankers Marine says: 'Training is a key element in transition to ECDIS. All our officers attend 5-days ECDIS generic training course ashore and now ECDIC CBT from Transas will be a perfect supplement to enhance the users' knowledge

Minesto Develops Simulator for Underwater Vehicles

Deep Green’s 8-shaped path on a sphere made with the HAMoS simulator. The Deep Green power plant is released in the current and finds its position on the trajectory where it operates stable.

Nordic marine energy technology company Minesto has developed a simulator to aid the development of its Deep Green marine power plant. According to Minestro, Deep Green is the only marine power plant that is able to cost efficiently produce electricity from low velocity tidal and ocean currents. The simulator has been developed in-house by Minesto’s own research and development department, and is in essence based on two existing open source programs: one for commercial flight

Nordic Shipholding Salvation Re-structuring Plan Agreed

Nordic Shipholding tankship: Image courtesy of Nordic Shipholding

Nordic Shipholding has entered a conditional restructuring agreement with Nordic Maritime, who will take over Nordic Ship Holdings debt of about  US$ 58,000,000. The company inform that after the restructuring it will be a tonnage provider in the product tanker segment and the objective is to grow the fleet. The five 37,000 dwt handy-size vessels will remain in commercial management with Maersk, where they participate in the Handytankers Pool

GAC Bunker Fuels Expands in Norway

GAC Bunker Fuels Limited has announced the opening of its newest office - in Bergen, Norway - in a move to further strengthen its marine fuel and lubricant trading operation across the Nordic region.   The Bergen office will be responsible for the trading of all grades of marine fuel and gas oil, as well as the full range of lubricant products, for domestic and international customers operating across Nordic waters and beyond

Nordic Maritime Exercises Option to Subscribe Further Shares

In light of the development of Nordic Shipholding A/S's cash position, as announced by the company in company announcement no. 11/13 published on December 13, 2013, Nordic Maritime has informed the company that it will exercise the option granted to Nordic Maritime in the conditional restructuring agreement entered into between the company and Nordic Maritime on 22 November 2013, to subscribe further shares against a cash payment to the Company of $2 million at completion of the restructuring

Suezmax Tanker Delivered to NAT

Nordic American Tankers Limited (NAT) has today taken delivery of Nordic Castor, the second of four secondhand Japanese-built Suezmax tankers acquired in May 2016. The first of the four vessels, Nordic Luna, was delivered June 1, and the third vessel is expected to be delivered near the end of June 2016 or early July, followed by the fourth vessel soon thereafter. The four Cayman-flagged tankers – Nordic Luna, Nordic Castor

NAT Names 2 New Tankers in South Korea

Mr. and Mrs. Yean Sin Kim, Siv Helset, Marianne Lie, Mr. Herbjørn and Mrs. Solveig Hansson. (Photo: ©Thorbjørn Damhaug)

wo new tankers, Nordic Star and Nordic Space, were named August 24 for owner Nordic American Tankers Limited (NAT).   NAT founder and chairman Herbjørn Hansson was present at the naming ceremony, along with the chargé d'affaires a.i. of the Norwegian Embassy Marianne Damhaug, and the ships' two sponsors, Nordic American Offshore Ltd. executive vice chair Marianne Lie and Siv Helset, a Norwegian lawyer with experience with legal counseling in the industry.  

NAT Wins TC Contract with BP

Photo:  Nordic American Tankers

 Nordic American Tankers Limited (NAT) has entered into a 2 year time charter (TC)  with British Petroleum (BP). This follow's NAT's TC arrangements with Shell, ExxonMobil and other major oil companies both in the West and in the East.    "The minimum rate is well above our cash break-even level with an index linked formula providing for upside potential to NAT. Commencement is mid September; i.e. in about 10 days," said a statement from the company.  

MAN Cryo to Supply LNG Bunkering for Swedegas

Photo: MAN Cyro

MAN Cryo, MAN Diesel & Turbo’s marine-LNG fuel-gas-system manufacturer, has signed a contract with Swedish infrastructure company, Swedegas, to deliver an LNG bunkering facility within the Port of Gothenburg. The new facility will enable vessels to bunker LNG from trucks or containers while simultaneously loading/unloading cargo at two jetties at the port’s Energy Port, dispensing with the need to make a separate refuelling stop

US Denies Iran Report of Confrontation with US Vessel

An Iranian military vessel confronted an American warship in the Gulf and warned it to stay away from a damaged Iranian fishing boat, Tasnim news agency reported on Sunday, but the U.S. Navy denied any direct contact with Iranian forces.   The American vessel turned away after the warning from the Iranian ship, which belonged to the naval branch of the Iranian army, according to Tasnim. The Iranian military vessel then towed the fishing boat

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, where he served as a director and partner in the Corporate Finance division. Giaever has served as a corporate advisor in the John Fredriksen group in London

Hanssons Increase Stake in Nordic American Offshore

File photo: NAO

The executive chairman of Nordic American Offshore Ltd. (NAO) and his family have increase their holding in the company, now holding shares equivalent to 5.4 percent of NAO.   On Wednesday a company owned by the NAO executive chairman, Herbjorn Hansson, and his son, Alexander, bought 500,000 shares in NAO at an average price of $1.18 per share. They also bought 500,000 NAO shares on Tuesday.  

Hanssons Up Stake in NAO – Again

File photo: NAO

Nordic American Offshore Ltd. executive chairman, Herbjorn Hansson and his son, Alexander, have accumulated 1,681,007 shares in the New York listed NAO at an average price of $1.12 per share.  Following the the last purchase of 181,007 NAO shares on Friday, May 12, the Hansson family together with its previous holding now hold shares equivalent to 6.5 percent of NAO.  

Nordic Countries Partner for Chemical Protection Exercise

Stig Wahlstrøm, Project Manager for SCOPE 2017.

A joint oil and chemical protection exercise between the Nordic countries will involve more than 300 personnel and 30 vessels, making for one of the largest projects of its kind in European history.   An increasing level of shipping traffic has led to a growing fear of accidents and an adverse risk picture. The accident involving M/V Full City in July 2009 on the coast of Langesund illustrated the crucial need for preparedness in dealing with accidents across national borders. 

Combating Organized Crime at Sea

Photo:  International Maritime Organization (IMO)

 Skills necessary in dealing with maritime transnational organised crimes at sea, including, piracy, armed robbery against ships, drug trafficking, marine terrorism and more were at the core of a two-week training course which concluded today in Mombasa, Kenya (22 May – 2 June 2017).    The course was conducted under the auspices of the JeddahAmendment to Djibouti Code of Conduct 2017, as a joint initiative between the East African Standby Force (EASF)

Recent Vessel Sales: May 2017

Vessel sales for May 2017 (as of June 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Year Built - (Age) - Price in Millions USD   Bulk Carriers 5/22 - GLOBAL PEACE - 31,875 - 11 - (6) - $10.1 5/6 - CS OCEAN - 32,269 - 08 - (9) - $8.5 5/6 - OCEAN HOPE - 32,877 - 12 - (5) - $11.1 5/29 - NEW DYNAMIC - 35,278 - 07 - (10) - $9.2 5/29 - ACACIA BULKER - 35,759 - 05 - (12) - $7.3 5/22 - HO FONG - 46,762 - 01 - (16) - $6.7

NAO Says Seven PSVs are Operational

Photo: Nordic American Offshore

 Nordic American Offshore (NAO) has ten high-quality Platform Supply Vessels (PSVs) built in Norway in the period 2012-2016.    "Seven of our ten vessels are in operation. Going into the third quarter, an improvement in the PSV market has taken place.  In a volatile market, the longer it lasts, the better," said a statement from the company.   The basic features of NAO are similar to the business model of the NYSE listed Nordic American Tankers Limited

Recent Vessel Sales: July 2017

Vessel sales for July 2017 (as of August 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Year Built (Age) - Price in Millions USD   Bulk Carriers 7/11 - SUNNY SKY - 28,390 - 11 (6) - $8.85 7/16 - DIANA ISLAND - 28,398 - 10 (7) - $8.6 7/11 - NEW CREATION - 35,283 - 06 (11) - $9.3 7/11 - NEPTUNE - 35,947 - 15 (2) - $17 7/11 - NORDIC PERTH - 37,300 - 17 (0) - $20 7/11 - NORDIC DARWIN - 37,300 - 17 (0) - $20

NAT Time Charter with Oil Firm

Photo:  Nordic American Tankers

 Nordic American Tankers Limited (NAT) announced that it has entered into two Time Charter arrangements (TCs) with Shell Oil for a period of 18 months for each vessel, commencing in August/September this year.   The terms of the confidential contracts include upside for both parties as well as downside protection. NAT now has three TCs with Shell.     NAT has six TC arrangements with large oil companies - from three months up to 18 months.     

NAT CEO Hansson Buys 180,000 Company Shares

Photo: Nordic American Tankers

Nordic American Tanker (NAT) says a company owned by chairman and CEO Herbjorn Hansson and his immediate family on August 31 bought 180,000 shares in NAT at an average price of $4.61 per share​. As of August 31, immediate Hansson family holds 3.6 million common shares of NAT. Nordic American Tankers is a shipping company focused on Suezmax crude tankers, each of which can carry up to 1 million barrels of oil.

BOLLFILTER Wins Arbitration over OceanSaver

After four years an arbitral tribunal has fully dismissed OceanSaver AS’ claim for compensation against BOLLFILTER Nordic ApS, Denmark.   In 2013, OceanSaver AS initiated an arbitration case in Denmark against BOLLFILTER Nordic ApS, claiming that BOLLFILTER Nordic ApS had delivered defective filtration machines with wire mesh filters to OceanSaver AS in 2010 and 2011.   The filtration machines, developed and manufactured by German Boll & Kirch Filterbau GmbH

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 Securities AS with main office in Oslo, Norway.    This is an investment bank with special focus on the maritime sectors, where he served as a director and partner in the Corporate Finance division

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

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