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British Virgin Islands News

30 Jun 2023

Crowley Acquires Tamarind Consolidated

(Photo: Crowley)

U.S. based shipping and logistics company Crowley announced it has acquired Tamarind Consolidated, a logistics services company serving the U.S. to the British Virgin Islands.The acquisition will transition Tamarind’s operations and services, including warehousing and non-vessel operating common carrier (NVOCC) services, to Crowley. According to Crowley, the expansion complements its existing maritime and logistics solutions and will expand solutions for customers in Virgin Gorda and surrounding BVI locations.

23 Aug 2022

Superyacht Linked to Sanctioned Russian Oligarch Auctioned in Gibraltar

A $75-million superyacht linked to a sanctioned Russian steel billionaire was auctioned on Tuesday in Gibraltar, court sources said, in what is understood to be the first sale of its kind since Russia invaded Ukraine in February.The Axioma was granted entry into Gibraltarian waters and then impounded by the authorities in March after U.S. bank JP Morgan said its alleged owner Dmitry Pumpyansky had reneged on the terms of a $20 million loan.The 72.5-metre vessel is being auctioned by the Gibraltar Admiralty Court. It was listed for one day, with closed bids to be sent electronically by midday on Tuesday, a court spokesman said.Nigel Hollyer…

22 Mar 2022

Russian Billionaire's Yacht Detained in Gibraltar

A luxurious super-yacht linked to the owner of Russia's largest steel pipe maker, who is currently under British and European Union sanctions, docked in Gibraltar on Monday and was then detained by the authorities.Western sanctions on Russian oligarchs over Moscow's invasion of Ukraine have triggered an exodus of luxury yachts from Europe in recent weeks, with several heading towards the Maldives, which has no extradition treaty with the United States.Reuters TV footage showed the "Axioma", believed to be owned by Dmitrievich Pumpyansky, owner of steel group TMK, moored at Gibraltar, a British Overseas Territory on the southern tip of the Iberian peninsula…

08 Mar 2022

Yacht Linked to Russian Oligarch Leaves Barcelona

A superyacht linked to Russian oligarch Roman Abramovich left Barcelona on Tuesday where it had been undergoing repairs in a local shipyard, ship-tracking data showed.The 140-meter (460-foot) My Solaris, which sails under a Bermuda flag according to monitoring site Marine Traffic, left Spanish company MB92's Barcelona shipyard just after 5 p.m. (1600 GMT) on Tuesday, according to the same site. MB92 declined to comment.The superyacht, which was built in a German shipyard and first took to the sea early last year, is one of a string of yachts owned by Abramovich, according to reports in luxury goods publications SuperYachtFan, SuperYacht Times and Forbes.Abramovich…

02 Mar 2022

Distressed Venezuelan Supertanker Discharging Oil Cargo in Asia - Sources

A U.S.-sanctioned Venezuela-owned supertanker that had mechanical problems since January is transferring its 2-million-barrel cargo of heavy crude to other vessels in Asia, according to three people familiar with the matter.The very large crude carrier (VLCC) Maximo Gorki left Venezuela in November amid an export push designed to generate funds for cash-strapped state oil company Petroleos de Venezuela (PDVSA), which has been under U.S. trading sanctions since 2019.Aging infrastructure problems, including a lack of oil storage and vessels, frequent refinery outages and export port congestion, are undermining PDVSA's increased oil production, impeding efforts to boost revenue, according to company documents and sources.

21 Jul 2020

Isle of Man Ship Registry’s QUALSHIP 21 Status Confirmed by USCG

(U. S. Coast Guard photo by Casey J. Ranel)

The Isle of Man Ship Registry has retained its place within the United States Coast Guard’s QUALSHIP 21 program, designed to recognize foreign-flagged vessels that maintain the highest safety and quality standards.Isle of Man Ship Registry director Cameron Mitchell said continued inclusion in the scheme through to July 2021 was great news for the registry and its clients, representing further independent verification of the quality of the Manx fleet.Entry into the program is based on data gathered during Port State Control inspections in the United States.

13 Mar 2019

Iran's Oil Tanker Fleet Being Squeezed as Sanctions Bite

Š alexyz3d / Adobe Stock

Iran is running short of options to replace its ageing fleet of tankers and keep oil exports flowing because renewed U.S. sanctions are making potential sellers and flag registries wary of doing business with Tehran, Western and Iranian sources said.Since U.S. President Donald Trump reimposed sanctions in November, exploratory talks with South Korea for up to 10 new supertankers have stalled and Panama has also removed at least 21 Iranian tankers from its registry forcing Tehran to put the vessels under its own flag…

05 Feb 2019

UK Holds Maritime Seminar

The UK Hydrographic Office (UKHO) yesterday (5th February) launched a five-day capacity building seminar to help UK Overseas Territories support safe maritime trade.The seminar, delivered as part of the Government’s Overseas Territories Seabed Mapping Programme, will focus on international regulations, with sessions on maritime safety information training, best practice governance and maritime law. This guidance, given by experts at both the UKHO and MCA, will help each of the 10 participating territories to comply with international obligations and share their own maritime safety information with ships operating in their waters.For these ships, this information, including up-to-date bathymetry (seabed mapping data), navigational warnings and observations, is essential to safe navigation.

18 Sep 2017

Maria Seen Strengthening into Major Hurricane

A second powerful storm in as many weeks was bearing down on a string of battered Caribbean islands, with forecasters saying Maria would strengthen rapidly into a major hurricane as it ripped into the Leeward Islands on Monday night. Maria's strength was building as it approached the Lesser Antilles, the U.S. National Hurricane Center said, estimating its winds near 90 miles per hour (145 kph). "Maria is expected to become a major hurricane as it moves through the Leeward Islands," the forecaster said, marked by "rapid strengthening" during the next 48 hours. Maria is approaching the eastern Caribbean less than two weeks after Irma hammered the region before overrunning Florida.

07 Sep 2017

How Do Ships Avoid Hurricanes?

Dozens of ships in the Caribbean have already been diverted to avoid Hurricane Irma, but how exactly does shipping cope with extreme weather - a post by UK Chamber of Shipping. Hurricane Irma, much like its predecessor Hurricane Harvey, has sent shipping into disarray, particularly for cruise passengers. Around 40,000 holidaymakers are estimated to have been affected by disruption to scheduled cruises this week and this figure could rise further as Irma speeds through the Caribbean towards southern Florida. The hurricane has already devastated areas of the British Virgin Islands, St Martin, Barbuda, St Barthelemy and Anguilla. AIS data shows 12 cruise ships are currently still in Irma’s path, but the good news is that the passengers onboard have a good chance of remaining safe.

06 Sep 2017

Irma Churns Through Caribbean, Possibly Enroute to Florida

Hurricane Irma, one of the most powerful Atlantic storms in a century, churned across northern Caribbean islands on Wednesday with a potentially catastrophic mix of fierce winds, surf and rain, en route to a possible Florida landfall at the weekend. Irma is expected to become the second powerful storm to thrash the U.S. mainland in as many weeks but its precise trajectory remained uncertain. Hurricane Harvey killed more than 60 people and caused damaged estimated as high as $180 billion when it hit Texas late last month. The eye of Irma, a Category 5 storm packing winds of 185 miles per hour (295 km per hour), moved away from the island of Barbuda and toward the island of St. Martin, east of Puerto Rico, early on Wednesday, the U.S. National Hurricane Center (NHC) in Miami reported.

31 Aug 2017

DryShips Reports Q2 Loss

DryShips posted a net loss of $15.6 million for the quarter ended June 30, 2017, widening from net loss of $9.1 million a year earlier. However, its revenue went up to $16.38 million from $15.75 million over the same period. Its cash and cash equivalents stood at $77.2 million (or $1.14 per share) at the end of Q2, and book value of vessels, including advances, was $668.0 million (or $9.84 per share). As of August 29, 2017, following the closing of the Private Placement, the Company owns 49% of Heidmar Holdings LLC  pursuant to a joint venture with Morgan Stanley. Heidmar is one of the largest independent tanker pool operators worldwide, commercially managing about 100 vessels.

08 Jun 2017

YANMAR Expands Americas Distributor Network

YANMAR America’s Commercial Marine Division has made three new additions to its distribution network, Mack Boring & Parts Co., W.W. Williams and Antilles Power. Established in the 1920s, Mack Boring & Parts Co. is one of America’s leading distributors of marine diesel engines, including YANMAR’s pleasure marine product lines. For YANMAR’s commercial marine division they will support the northeastern United States, including Maine, New Hampshire, Rhoda Island, Connecticut, eastern New York, New Jersey, Delaware, Maryland, eastern Pennsylvania, Virginia and North Carolina. W.W. Williams has a history as long as YANMAR’s. Since 1912, the company has been providing experience and solutions…

24 May 2017

Meyer Werft Lays Keel of Norwegian Bliss

Norwegian Cruise Line president and CEO Andy Stuart and MEYER WERFT managing partner Tim Meyer at the keel laying for Norwegian Bliss. (Photo: NCL

A keel laying ceremony was held for Norwegian Cruise Line’s (NCL) new cruise ship Norwegian Bliss at the shipbuilder Meyer Werft’s facility in Papenburg, Germany. During the ceremony, one of the keel blocks of the 167,800 gross ton vessel was lifted into the covered building hall, signifying a major milestone in the ship’s construction. NCL president and CEO Andy Stuart laid the traditional coin, etched with the outline of the ship’s signature hull designed by wildlife artist Wyland, before the block was lowered into place.

22 Mar 2017

Diana Containerships Launches USD 150 Mln Securities Offering

Diana Containerships, a global shipping company specializing in the ownership of containerships, announced today that the Company has entered into a Securities Purchase Agreement with Kalani Investments, an entity organized in the British Virgin Islands (Kalani) that is not affiliated with the Company, for the sale of 3,000 newly-designated Series B-1 Convertible Preferred Shares, preferred warrants to purchase 6,500 Series B-1 Convertible Preferred Shares and preferred warrants to purchase 140,500 newly-designated Series B-2 Convertible Preferred Shares. The B-1 Convertible Preferred Shares, the Series B-1 Preferred Warrants (and the…

27 Dec 2016

Dryships to Sell $200 mln of Stock to Kalani Investments

DryShips Inc., an international owner of drybulk carriers and offshore support vessels, announced today that it has entered into an agreement with Kalani Investments Limited, an entity organized in the British Virgin Islands and that is not affiliated with the Company. Under the agreement the Company may sell up to $200.0 million of its common stock to Kalani over a period of 24 months, subject to certain limitations. Proceeds from any sales of common stock will be used for general corporate purposes. Kalani has no right to require any sales and is obligated to purchase the common stock as directed by the Company, subject to certain limitations set forth in the agreement.

12 Oct 2016

South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal

A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters. CBI Energy and Chemical, which is controlled by Australian and Canadian investors and has offices in Hong Kong, also said in a statement to Reuters that it would be seeking to buy floating LNG production and import facilities as part of an ambitious plan for Africa and Asia. The orders would be a major shot in the arm for South Korea's ailing shipbuilding industry, which has been hit by a collapse in new orders as global trade growth slows and after the slump in commodities prices in recent years.

25 Apr 2016

Europa 2 to Call Cuba for the First Time

Europa 2 (Photo: Hapag-Lloyd Cruises)

Sun, sand and Caribbean ‘joi de vivre’ – Hapag-Lloyd Cruises’ Europa 2 will visit the island of Cuba in the Greater Antilles for the first time on two cruises in October and November 2016. Maiden ports of call are special moments on cruises with Hapag-Lloyd Cruises’ ships and never fail to be a highlight for both the passengers and crew. For the first time, several visits to Cuba, the largest of the Antilles, are featured on Europa 2  itineraries in autumn 2016. The island, known as a nation for its Caribbean way of life and white sandy beaches…

30 Mar 2016

Republic of the Marshall Islands Maintains Qualitative Edge

The Republic of the Marshall Islands (RMI) received preliminary information regarding the United States Coast Guard’s (USCG’s) Qualship 21 list during Intertanko’s North American Panel meeting. The meeting, which took place on day one of the Connecticut Maritime Association’s (CMA’s) Shipping 2016 conference, was the largest attended North American Panel meeting to date. Rear Admiral Paul Thomas, Assistant Commandant for Prevention Policy, USCG presented the preliminary results showing the RMI on the Qualship 21 list for 2016. While these results are preliminary, the final results will be presented in the USCG’s 2016 Annual Report scheduled to be released in early summer. There were 26 eligible flag States in 2015 of which 13 fell off the 2016. Qualship 21 preliminary list.

24 Feb 2016

Succession Fight for Evergreen Heats Up

The feud among the scions of late billionaire Evergreen Group founder Chang Yung-fa's family boiled to the surface, reports local Taiwanese media. The struggle between the heirs to Evergreen Group has escalated as the three older brothers reportedly took drastic measures to undermine their younger brother’s accession to the helm of the family-run shipping and transportation empire. Evergreen Group founder Chang Yung-fa died on Jan. 20 and left a December 2014 will that named his youngest son, Chang Kuo-wei, chairman of Eva Airways and the only son of his second wife, as his successor and the sole inheritor of his estate worth billions of New Taiwan dollars.

07 Oct 2015

Pitbull Named Godfather of Norwegian’s New Cruise Ship

Pitbull (Photo: NCL)

Norwegian Cruise Line announced today that musician Pitbull will serve as godfather for its newest ship, Norwegian Escape, slated to be christened next month in Miami. On Monday, November 9, Armando Christian Perez, aka Pitbull, will be the honorary godfather and headline performer at a christening ceremony at PortMiami for the new ship Norwegian Escape. Currently under construction at Meyer Werft in Germany, Norwegian Escape will sail weekly seven-day cruises from Miami to the Eastern Caribbean beginning November 14…

03 Aug 2015

Norwegian Epic to Sail from Port Canaveral

Norwegian Epic (Photo courtesy of Norwegian Cruise Line)

Port Canaveral will homeport Norwegian Cruise Line’s (NCL) largest ship and currently the third largest in the world—the Norwegian Epic—starting in November 2016, offering seven-day Eastern and Western Caribbean itineraries, as well as three- and four-day vacations to the Bahamas in 2017. “As a regular port of call for NCL ships, we are thrilled to have the opportunity to homeport the Norwegian Epic and welcome NCL guests into our community,” said Port Canaveral CEO John E. Walsh.

08 Jul 2015

Maritime Security Experts Meet in Cleveland

For maritime security experts, there were many lessons learned after the 2011 Republican National Convention in Tampa. That’s why those experts are meeting now in Cleveland, the site of the 2016 RNC to learn from the professionals who planned and executed the maritime safety and security efforts for the Tampa event. The Republican and Democratic conventions are considered national special security events (NSSE), and for many of these major events that are attended by huge numbers of people are on or near water.