U.K. Acquires New Emergency Towing Vessel
The UK Maritime and Coastguard Agency (MCA) issued a Press Notice stating that a new emergency towing vessel has been acquired. It is assigned to the Shetland Islands and is committed to protecting the coast of the Northern Isles. Source: HK Law
Louis Cruise Lines Acquire New Ship
Louis Cruise Lines reportedly acquired its seventh cruise vessel, boosting the total capacity of its fleet to 5,803 passengers. The vessel, the M/S Mermoz, was bought from Prestige Cruises NV, a member of the Costa Crociere group. The Mermoz has a tonnage of 14,173 and can accommodate 739 passengers in 300 cabins. The vessel will reportedly replace the Ausonia, which is under charter to Britain's First Choice.
SBX Acquires New Vessel
SeaBird Exploration Limited (SBX) has acquired M/V Sentinel. A DP (Dynamically Positioned) vessel, built in 1979. The vessel will be converted to a Source/Ocean Bottom Seismic ship. Total cost for the vessel, including upgrade and additional equipment, is expected to be up to $20 million. The vessel is expected to be in full operation from early 2007.
Tanker Rates Surge
The rate for Suexmax vessels has jumped by 53% from $52,866 to $81,073 and that of Aframax vessels by 40% from $31,060 to $43,528 during the period. To capitalise on high freight rates, Indian shipping lines like Shipping Corporation of India, Great Eastern Shipping and Mercator Lines are planning to expand their fleet size. Shipping Corporation of India is planning to invest around Rs 350 crore in the next two years to acquire new vessels while Great Eastern Shipping is expected to commit a capital of nearly Rs 4,900 crore to expand its fleet size. (Source: www.business-standard.com)
GOGL Acquires New Vessel
Norway based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of the second vessel, Sea Monterrey (to be renamed Golden Monterrey). On October 16, 2017 GOGL announced that it has entered into agreements to acquire two modern Capesize vessels from affiliates of Hemen Holding Limited, a company indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family (Hemen), the Company's largest shareholder, at a purchase price of USD 43.0 million per vessel. The first vessel, Golden Behike, was delivered in November 2017.
India Worries About its Ageing Shipping Fleet
India's troubled shipping sector has been passing through tumultuous waters in recent years with over 40 per cent of the country’s fleet older than 20 years and about 12 per cent of them being 12-15 years old, says the Economic Survey 2015-16 , tabled in Parliament by Finance Minister Arun Jaitley on Friday. The decline in the Baltic Dry Index, a freight index that depicts the robustness of trade, from 10,720 in May 2008 to 386 in January 2016 “is a reflection of the slowdown in India’s and the world’s merchandise trade as well as of overseas shipping services…
Rickmers to Acquire New Vessels
Rickmers Maritime has signed an agreement to acquire another four container vessels. Under a memorandum of understanding inked on Wednesday, the business trust will acquire the vessels with a capacity of 4,250 standard container units or TEU. This is on top of its recently-announced acquisition of four 13,100 TEU vessels. Together, the new vessels will increase Rickmers Maritime's total contracted fleet capacity by 170 percent to 110,310 TEU. Polaris Shipmanagement Company will manage the shipbuilding of the four vessels in China. Singapore mainboard-listed Yangzijiang Holdings will be the shipyard for this project. Delivery is scheduled for 2009. The purchase of the vessels is subject to the approval of unit-holders. Source: Channel News Asia
Elliott Bay Design hires Senior Naval Architect
Richard Holcomb has joined the Elliott Bay Design Group (EBDG), a naval architecture and marine engineering firm headquartered in Seattle, as a senior naval architect. Holcomb is a registered professional engineer (PE) and the latest hire at the growing firm, which has been acquiring new talent in response to increased customer demand for its services across the country. Holcomb brings more than two decades of naval architecture experience to his new position with a focus on project management, technical direction, and consultation in the areas of ship performance and design.
Louis Cruise Lines Acquires New Ship
Louis Cruise Lines has acquired its seventh cruise vessel, boosting the total capacity of its fleet to 5,803 passengers. The vessel, M/S Mermoz, was bought from Prestige Cruises NV, a member of the Costa Crociere group. The cost of the acquisition was not disclosed. The vessel will come under LCL's ownership in November, a company spokesman said. The Mermoz is now operated by Costa, and its last cruise under the Paquet brand is scheduled for October, the spokesman added. The Mermoz has a tonnage of 14,173 and accommodates 739 passengers in 300 cabins. The ship will replace the Ausonia, which is under charter to Britain's First Choice. LCL owns seven cruise boats, and an eighth is under management.
Korea Mulls New Ship Financing Company
Reuters report quoting South Korea government sources that the country is planning to establish a state-backed ship financing company with an initial capital of 1 trillion won ($871.73 million) to help improve the financial health of Korean shipping companies. The government would provide financing of 6.5 trillion won ($5.67 billion) in total so that local shipping firms could acquire new vessels. New vessel orders won by South Korean shipbuilders between January-September fell by 87 percent compared to the same period in the previous year.
SCI Orders New Cellular Container Vessel
The Shipping Corporation of India Ltd. (SCI) continues to modernize its fleet by acquiring new vessels. On July 14, SCI placed an order for a Cellular Container vessel of 3,500 TEU capacity, with M/s Rongcheng Shenfei Shipbuilding Co. Ltd., China. The shipyard was selected for building the vessel through competitive global tendering process. The vessel would be built to specifications complying with the latest international and national rules and regulations. This ordered vessel will be equipped with Ballast Water Treatment Plant & camless electronic Main Engines. This container vessel should be delivered to SCI in early 2013. SCI presently operates 5 container services in the Indian, European, Middle Eastern and Mediterranean sectors.
LNG Carrier CESI Tianjin Delivered for SINOPEC LNG Project
Mitsui O.S.K. Lines (MOL) announced that the LNG carrier CESI Tianjin, which was ordered by the joint venture of MOL, China COSCO Shipping Corporation Limited (China COSCO Shipping) and China Petroleum & Chemical Corporation (SINOPEC), was delivered at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) on September 26. The CESI Tianjin is the fourth vessel to serve the LNG transport project for SINOPEC announced in April 2013, and will sail under a long-term charter contract to transport LNG that SINOPEC will purchase from the Australia Pacific LNG Project.
MOL Group Expands its Exploration Portfolio
MOL Group expanded its exploration portfolio by acquiring new licenses in Hungary and Norway. MOL acquired 6 new licences in the 4th bid round in Hungary, doubling its exploration acreage in the country. MOL Norge participated in the latest APA licensing round and acquired 4 licences in the Norwegian Continental Shelf, one of which with operatorship. These successes significantly contribute to the implementation of the MOL 2030 strategy. MOL has won 6 new licences in the fourth…
GNH to Acquire New Tankers
According to reports, Gulf Navigation Holding (GNH), a shipping and marine services company, announced its Dh500 $136.1m acquisition of six double-hulled tankers. The deal reflects the company's determination to capitalize on the growth prospect in the sector as oil prices and charter rates hit new highs. GNH's acquisition of the six product tankers - Gulf Ahmadi, Gulf Riyad, Gulf Sieb, Gulf Safwa, Gulf Jash and Gulf Shagra - boosts the size of its burgeoning fleet to 18 wholly-owned vessels. The new acquisitions, which offer flexible capacity and can carry clean oil, products and ore, will be fully deployed on time charter. The vessels are 48,000 metric tones deadweight each and have liquid capacity of about 50,000 cubic meters.
Libya Acquires New Tankers
Libya Wednesday took delivery of three new oil tankers at its port hosting the Refining Company in Zaouia, as part of ceremonies marking the 37th anniversary of the country`s September 1969 Revolution. Baghdadi Mahmoudi, Secretary of the Libyan People`s General Committee took delivery of the three tankers - Ibn Batouta, Gardhabia and Intissar - new additions to the Libyan Maritime Transport Company`s fleet. The tankers built in South Korea by Samaho Hundai, one of the largest ship builders in the world, under supervision by Lloyd`s of Britain, cost US$165 million each, according to industry sources. They are equipped to carry three types of crude oil, and each could unload 3,000 cubic metres of crude per hour.
Ocean Tankers Acquires New Ship
Ocean Tankers Holdings Public Company Ltd (OCT) announced that within the framework of the company’s policy for the improvement of its fleet, it has reached an agreement for the purchase of a tanker of new generation. The new tanker is the M/T Montauk, year of Manufacture 1999 under US flag, registered with the American Bureau of Shipping – ABS. The ship will be registered in the Cypriot shipping register under the name M/T KALIA. For the acquisition of the ship it has already paid 10% of the purchase price (USS1,082,500) in advance. The acquisition of the new tanker is expected to extend further the company’s turnover and to have positive effect on the profitability of 2007 and of the next years.
Diana Shipping Inc. to Acquire New Vessel
Diana Shipping Inc. announces the completion of its follow-on offering of 7,000,000 shares of common stock priced at $9.50 per share. Bear, Stearns & Co. Inc. and Wachovia Capital Markets, LLC are the joint global coordinators and joint book-running managers for the offering. In connection with the offering, the underwriters have been granted a 30- day option to purchase up to 1,050,000 additional shares of the Company's common stock to cover any over-allotments.
Oceaneering Acquires New Vessel
Oceaneering International, Inc. (OII) has purchased the Gulf Quest for conversion into a 145-ft. dive support vessel. Built in 2001, and renamed the Ocean Quest, the vessel will be upgraded in spring 2003 and then become available for work in the Gulf of Mexico. When completed it will feature: 2,100 sq. ft of deck space, 24 person accommodations (in addition to vessel crew), dive support equipment installed below deck, marine rated API 10 ton crane on the stern, 24 hr. operational capacity and built-in, below deck, 6 X 6 jet pump After conversion, the Ocean Quest will be ideally suited for Inspection, maintenance, and repair (IMR) activities on pipelines & platforms in water depths down to 300 fsw.
Diana Shipping Acquires New Vessel
Diana Shipping Inc. announced that it has agreed to purchase from an unaffiliated third party, a Capesize dry bulk carrier of approximately 175,000 dwt, currently under construction by Shanghai Waigaoqiao Shipbuilding Co., Ltd. for a price of $91 million. The vessel, to be named Sideris GS, is expected to be delivered to the Company by the sellers immediately upon completion of its construction in or about December 2006. Upon delivery of this vessel, the Company's fleet will consist of thirteen Panamax dry bulk carriers and two Capesize dry bulk carriers.
Hempel Acquires Schaepman
Hempel has acquired Schaepman’s Lakfabrieken B.V, a Dutch supplier of specialized industrial, protective and decorative coatings. The acquisition is part of Hempel’s five-year growth strategy. Terms of the sale are undisclosed. According to Hempel , the acquisition will enable the company to benefit from Schaepman's expertise in protective coatings. Addtionally, existing Schaepman customers will gain access to Hempel's range of products and global support. Hempel's global presence will also ensure Schaepman's specialist products are available to a wider customer base. Hempel’s Group President and CEO Pierre-Yves Jullien, said, “We are focused on developing or acquiring new solutions that add real benefits to our customers. Schaepman represents what we were looking for.
NOAA Seafloor Mapping Project Delivers Diverse Data
NOAA ship 'Thomas Jefferson' mapping Long Island Sound seafloor this summer contributes to a multi-level data gathering collaboration. In addition to updating NOAA’s nautical charts, ongoing collaborations in Long Island Sound will create products that depict physical, geological, ecological, geomorphological, and biological conditions and processes – all to balance the development of new ocean uses while protecting and restoring essential habitats. In 2011, the Long Island Sound Program (representing a partnership between the State of Connecticut…
Hapag-Lloyd to Raise Capital Following Merger with UASC
Hapag-Lloyd AG will now carry out the capital increase that was agreed upon as part of the merger of Hapag-Lloyd and UASC. The gross proceeds are expected to amount to approx. EUR 352 million (approx. USD 414 million). The official merger of the two companies occurred on 24 May 2017. At the Annual General Meeting on 29 May 2017, the shareholders approved new authorised share capital for a capital increase. The capital increase is backstopped by the primary shareholders CSAV Germany Container Holding GmbH…
ONGC, SCI Enter MoU
Oil & Natural Gas Corporation Ltd. (ONGC) and Shipping Corporation of Indian (SCI) have entered into a memorandum of understanding (MoU) for setting up a joint venture company called Offshore Marine Services Ltd (OMSL). The joint venture company will provide end-to-end solutions for vessel operations for ONGC and other oil and gas companies. It will also develop capabilities for acquisition, repair and maintenance of offshore floating units and undertake repair and construction on long-term arrangement with shipyard facilities on preferential terms and competitive basis. ONGC will give its vessels on bare boat charter agreement to the joint venture and will retain right of first refusal on deployment of these vessels as per requirement.