British Virgin Islands News

Incat Crowther designed a new 24-m passenger fast ferry for Caribbean operator Smith's Ferry Services. Built by Australian shipyard Aluminium Marine in Brisbane, the new ferry will transport 149 passengers at speeds of up to 28 knots and has been designed for the busy Charlotte Amalie (U.S Virgin Islands) to Road Town (British Virgin Islands) tourism route.The main deck can transport 118 passengers in air-conditioned comfort. It boasts a large service kiosk, two bathrooms, and luggage space.

Major cruise operators are steering their ships - and millions of dollars in investments - into their own private destinations packed with excursions, beaches, bars and restaurants.The phenomenon appears to have started with Royal Caribbean Group, which in 2019 opened "Perfect Day at CocoCay," an amusement park-like private destination in The Bahamas that has caught the eye of Wall Street.By operating their own private destinations on small Caribbean islands, Royal Caribbean and…

The Florida-Caribbean Association (FCCA), a cruise and destination trade group, has announced that the 2023-2024 cruise year brought record economic contributions to the region.According to the study released by Business Research & Economic Advisors (BREA), cruise tourism generated $4.27 billion in direct cruise tourism expenditures, about 27% higher than the record set by the previous study in 2018, in the 33 participating destinations.Key findings include:• Cruise tourism generated $4.27 billion in expenditures…

Salvors are sending a crane barge to lift a yacht that ran aground on a coral reef just off Puerto Rico's Flamenco Beach.The 72-foot sailing catamaran Obsession was reportedly traveling with four people on board from Puerto Rico to the British Virgin Islands when it struck a reef during a stop in Culebra on July 21. No injuries were reported.To remove the vessel, salvage and marine services contractor Resolve Marine has deployed its 400-ton shear-leg barge. The 164-foot-long, 54-foot-wide barge is being towed by tugboat from Baltimore and is expected to arrive to Culebra…

Salvors have lightered bulk diesel fuel from a luxury yacht that grounded on a reef just off Flamenco Beach in Culebra, Puerto Rico, the U.S. Coast Guard said.The 72-foot sailing catamaran Obsession was reportedly traveling with four people on board from Puerto Rico to the British Virgin Islands when it struck a reef during a stop in Culebra on July 21. No injuries were reported.The fuel removal was conducted by Resolve Marine and Clean Harbors, LLC crews and consisted of the estimated 800 to 1…

A U.S. Coast Guard aircrew came to the aid of a Vanuatu-flagged supply vessel that was taking on water in the Caribbean Sea, approximately 22 nautical miles south of Puerto Rico.On May 25, the Sea Falcon was transiting to Tortola, British Virgin Islands with four people on board when the vessel's master reported to watchstanders at Coast Guard Sector San Juan that the 121-foot-long ship was taking on water through a crack in its hull. The master said the rate of flooding was approximately 300 gallons per minute…

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.

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…

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…

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…

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.

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.

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…

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.

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.

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.

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.

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.

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…

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.

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…

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.

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.