L.P. Charters MR Product Tanker M/T Akeraios
Capital Product Partners L.P. (NASDAQ: CPLP) announced that it had chartered the M/T Akeraios with BP Shipping Limited for a period of 12 months (+/- 30 days). The charter commenced today, June 15, 2010. The M/T Akeraios (2007 Hyundai Mipo 47,000dwt ICE Class 1A) was fixed at a net daily charter rate of $12,500 with BP Shipping Limited, and is subject to a profit sharing arrangement, which allows each party to share, at a 50/50 percentage, additional revenues earned for breaching the International Warranty Limits (IWL). Ioannis Lazaridis, Chief Executive and Chief Financial Officer of Capital Product Partners' general partner, said, "We are very happy to further extend our successful relationship with BP Shipping, with 8 of our 19 vessels currently under charter with the oil major.
AtoBviaC Upgrades Distance Tables
A recent upgrade to AtoBviaC’s end user applications for the BP Shipping Marine Distance Tables now means that users can adjust routes and obtain distances to match their own operations. The changes make it possible for the user to produce deviation reports following changes in voyage destinations. AtoBviaCs’ new interfaces for the BP Shipping Marine Distance Tables are ‘Port to Port –Online’ and ‘Port to Port v4’. Both applications allow users to edit routes to meet their particular needs.
SembCorp Gets BP Shipping Deal
Singapore's Sembawang Shipyard Pte Ltd., a subsidiary of SembCorp Marine, has entered an agreement to repair the Far East fleet of BP Shipping Ltd. for an indeterminate amount of time. Sembawang Shipyard managing director Heng Chiang Gnee said the company expects to refit and drydock about 12 of BP Shipping's fleet of 30 in a typical year. He said he expected a typical contract value of about $1.2 to $1.7 million to repair each of the vessels.
BP Shipping Turns 100
BP Shipping celebrated its 100-year anniversary yesterday, making it the longest continually operating company in the group. Formed on April 30, 1915 as the British Tanker Company, the business has contributed to two world wars, the Great Depression, the closures of the Suez Canal, and the impact of oil nationalisations on the world economy and the movement of oil and gas. It has also played a role in the evolution of safer and more environmentally sustainable shipping practices including inert gas systems, crude oil washing and double hulling.
BP Shipping Marks its 100th Year
BP Shipping today celebrates its 100-year anniversary, making it the longest continually operating company in the BP group. Formed on April 30, 1915 as the British Tanker Company, the business has adapted to significant world events including two world wars, the Great Depression, closures of the Suez Canal, and the impact of oil nationalisations on the world economy and the movement of oil and gas. BP Shipping has also played its role in the evolution of safer and more environmentally sustainable shipping practices including inert gas systems…
BP Shipping Orders VLITs
BP Shipping has ordered two Very Large Inland Tankers (VLIT’s) with a capacity of some 10,300 cu. m. each. The Breko shipyard from the city of Papendrecht (close and southeast to Rotterdam) is also going to build two smaller, 1,500 cu. m., tankers for lubricants. All four vessels will have double hulls.
BP Shipping U.S. Crude to PDVSA's Terminal
British BP has shipped a U.S. crude cargo to PDVSA's terminal in Curacao, the third one that the firm has sent since winning a tender along with China Oil last month to provide the Venezuelan state-run company with some 8 million barrels of light oil, according to sources and Reuters data. Venezuela started regular crude purchases last year and since then it has been launching tenders on the open market for at least one monthly cargo. In March it decided to secure provisions for the whole second quarter, doubling crude imports to some 95,000 barrels per day (bpd). The tanker NS Century chartered by BP loaded crude this week at Beaumont and Port Arthur, Texas, on the U.S. Gulf Coast and set sail to PDVSA's Bullenbay terminal on the Caribbean island of Curacao.
BP Shipping Goes Live with Task Assistant
Ulysses Systems and BP Shipping have announced that Task Assistant(tm) has gone live. fleet as each new building enters service. BP Shipping is using Task Assistant(tm) to re-engineer its information systems in order to support a proposed doubling of its fleet size. Task Assistant(tm) will be used to integrate documentation, implement new procedures resulting from recent mergers and new regulations such as ISM, STCW 95 and ILO 180, and to manage risk. After a thorough survey of marine and other relevant industry software, BP Shipping selected Ulysses Systems to develop a solution that addressed its requirements and delivered real benefits to shore and ship operations.
Aqualis Lands Audit Work for LNG Carrier
Offshore marine and engineering consultancy Aqualis Offshore, part of Oslo-listed Aqualis ASA, said it has been contracted by Hyundai Samho Heavy Industries Co. Ltd to provide an engineering study of a new-build liquefied natural gas (LNG) carrier the yard is constructing for Teekay LNG. Aqualis Offshore’s work scope is to provide failure modes and effects analysis (FMEA), hazard dentification (HAZID) and hazard and operability (HAZOP) studies for the boil-off gas handling system and fuel gas system on board the vessel. Aqualis Offshore will also provide FMEA-studies of the vessel’s propulsion redundancy and steering system as well as…
Goltens to Retrofit BWT Systems on BP Gas Carriers
Goltens said it has been awarded a contract for the engineering and retrofit installation of OceanSaver ballast water treatment (BWT) systems on board two of BP Shipping’s liquefied natural gas (LNG) carriers. The vessels to be retrofitted are the two 138,000 cbm LNG vessels British Innovator and British Merchant. Goltens will undertake the engineering and prefabrication work in 2017 and then complete the installation services in 2018. “We look forward to working closely with BP and applying our well-proven process to the retrofit of these two gas carriers in the most efficient manner…
BP Shipping Charters Extended
Capital Product Partners L.P. (Nasdaq: CPLP) announced the extension of the charters of both the M/T Agamemnon II and the M/T Ayrton II to BP Shipping. The M/T Agamemnon II (2008 STX Offshore & Shipbuilding Co., 51,238 dwt) was fixed to BP Shipping at a daily charter rate of $14,000 net for 12 months (+/- 1 month) and the charter is subject to a profit sharing arrangement which allows each party to share, at a 50/50 percentage, additional revenues earned for breaching the Institute Warranty Limits. The new charter rate will commence upon redelivery from the vessel's current charter, expected at the end of January 2012, with earliest expected redelivery at the end of December 2012.
AtoBviaC's LNG Review Sets New Industry Standards
With two major LNG conferences taking place this week on opposite sides of the world - the third annual LNG Global Congress in London and the World LNG Series Asia Pacific Summit in Singapore - AtoBviaC, the specialist maritime route provider, has carried out a thorough review of all LNG trades to ensure that key ports and vessel manoeuvres in this important sector remain covered. LNG vessels are some of the most expensive in the industry, consistently attracting the highest charter rates…
Capital Product Partners Sings Pact for $460 Mln Refinancing
Capital Product Partners entered into a firm offer letter for a senior secured term loan facility of up to $460.0 million with HSH Nordbank AG and ING Bank as mandated lead arrangers and bookrunners and BNP Paribas and National Bank of Greece S.A. as arrangers. The lenders also include Alpha Bank S.A., Piraeus Bank S.A. and Skandinaviska Enskilda Banken AB (Publ). The closing of the credit facility is subject to finalization of the long form loan documentation. "We intend to use the net proceeds of the loans under the New Facility…
Capital Product Partners L.P. Announces One Year Time Charter
Capital Product Partners L.P. (CPLP) has announced the chartering of the M/T Avax to BP Shipping. The M/T Avax (47,834 dwt, IMO II/III Chemical Product Tanker built 2007 Hyundai Mipo Dockyard, South Korea) was chartered in October 2013 to BP Shipping for a minimum charter term of one year (+/- 30 days). BP Shipping has the option to extend the charter for an additional 12 months at a gross day rate of $15,600 per day. The vessel had been under charter with Capital Maritime & Trading Corp., CPLP's sponsor, as of April 2013 for 12 months (+/- 30 days) at a gross daily charter rate of $14,750. The vessel's actual earnings under the new charter are $14…
Capital Product Bags 3 MR Charters
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, Samsung Heavy Industries (Nigbo) secured employment with Repsol Trading for one year (+/- 30 days) at a gross daily rate of $14,500. The charterer has the option to extend the time charter for an additional year (+/-30 days) at a gross daily rate of $14,750. The new charter will commence in October 2017.
Pirate Attack Avoidance Routing Software Now Available
AtoBviaC Plc announces a new anti-piracy routing tool in its popular subscription 'BP Shipping Marine Distance Tables'. The AtoBviaC tool enables the ship operator to select routes based on the most current intelligence, and accurately calculate the time and fuel implications of the voyage. "In many cases this can work out to be considerably more accurate than the other available options and provides a level of self-determination that is missing from other solutions,” said Captain Trevor Hall, Director of AtoBviaC. Anti-Piracy Routing from AtoBviaC within the BP Shipping Marine Distance Tables is based upon information on piracy activity obtained on a regular basis from the Joint War Committee bulletins, and from specific routings requested by ship operators.
NASSCO Delivers Final Tanker to BP Shipping
General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics, delivered a fourth and final double-hulled oil tanker, the Alaskan Legend, to BP Shipping Ltd. The Alaskan Legend will depart San Diego on August 21, to join its NASSCO-built sister ships already in service: the Alaskan Frontier, Alaskan Explorer and Alaskan Navigator. The ship is capable of carrying up to 1.3 million barrels of crude oil and will operate between Alaska and western U.S. ports. The ship is double-hulled, diesel-electric powered, equipped with 20 separate cargo tanks, and has all of its cargo transfer piping inside the hull rather than on its decks to reduce the chance of accidental spills. NASSCO began constructing the ship in October 2004.
BP’s LNG Carrier Fleet is Growing
BP said it will take delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers in 2018 and 2019 to support its expanding global LNG portfolio. BP’s finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers. The vessels will join BP’s exixting fleet to help service a 20-year liquefaction contract with the Freeport LNG facility in Texas, as well as other international LNG projects in BP’s global portfolio. “These vessels will significantly increase BP’s ability to safely transport LNG to anywhere in the world, directly supporting BP’s global natural gas strategy,” said BP Shipping CEO Susan Dio. The new ships are designed to be about 25 percent more fuel efficient than their predecessors, BP said.
Voyager Planning Station Adds AtoBviaC Distance Tables
AtoBviaC announced that its BP Shipping Marine Distance Tables are now incorporated into the Voyager Planning Station solution. From this month, bridge personnel can take advantage of the accuracy and quality of AtoBviaC’s distance tables, route planning, intelligent data management and quality of compliance provided by Global Navigation Solutions’ Voyager Planning Station, the company said. Routes are calculated by Master Mariners and so provide accurate, reliable calculations taking into account issues such as traffic separation schemes and navigational restrictions.
Drydocks World, BP Renew Partnership
Drydocks World – Dubai, the flagship ship repair, conversion and new building yard of Drydocks World, has renewed its long-standing association with BP Shipping with the signing of a new Alliance Agreement. According to the Agreement, signed by Nawal Saigal, Managing Director of Drydocks World – Dubai, and Dave Williamson, VP Fleet Operations of BP Shipping, the two companies will work closely to achieve optimum production levels based on mutually agreed terms, which includes strict implementation of accepted standards in safety, quality and environmental protection.
Marlink Inks Broadband Deal with BP Shipping
Marlink will provide BP Shipping with global multi-band high speed VSAT (Very Small Aperture Terminal) services to support operational efficiency and crew communication across its tanker fleet. Under the new contract, Marlink will deliver primary communication capability on its flexible Sealink VSAT service, including MSS (Mobile Satellite System) back-up to BP’s operated fleet. BP Shipping was one of the first operators to adopt maritime VSAT services across its tanker fleet. The company’s current operated fleet will migrate to Sealink Ku-band VSAT. BP’s existing vessels will retain their C-band VSAT antennas, enabling Marlink to deliver a true multi-band broadband service with high availability of connectivity globally.
BP Contract Jeppesen Voyage Planning
Jeppesen optimization solutions to be used aboard BP's LNG, Product & Crude Oil vessels to increase efficiency, reduce risks & save fuel. The contract will result in the installation of Jeppesen’s Vessel and Voyage Optimization Solution (VVOS) on 52 BP vessels carrying crude oil and LNG shipments globally. The contract also provides for integration of Jeppesen’s FleetManager shoreside component into BP Shipping operations. FleetManager will be used to track BP’s owned and chartered vessels. VVOS will help BP vessels optimize ship routes and engine settings to increase efficiency, minimize risks such as cargo loss and weather damage, and reduce fuel costs.
Top Ships Extends Time Charter of M/T Eco Fleet
Top Ships, an international owner and operator of modern, fuel efficient "ECO" tanker vessels focusing on the transportation of petroleum products, announced that it has extended the firm period of the time charter of M/T Eco Fleet with BP Shipping Limited for six months. Following the signing of the above mentioned time charter party extension, the Company’s charter coverage is 100% of the operating fleet including vessels partly owned through joint ventures in the year 2018. The charter coverage of the operating fleet for the years 2019, 2020 and 2021 will be 83%, 65% and 20% repectively.