Carrier Owner News

The United States is reviewing "potential terrorist designations" for Yemen's Houthi rebel group in response to its seizure of a cargo ship, White House national security spokesperson John Kirby said on Tuesday.Kirby's comment was significant because one of the Biden administration's first acts after taking office in January 2021 was revoking terrorist designations of the Houthis over fears the sanctions they carried could worsen Yemen's humanitarian crisis.The Iran-backed Houthis…

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels,  influential administrations seek to accelerate towards net-zero or even zero by 2050.

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels, influential…

Oslo-based bulk carrier owner/operator Belships announced it has appointed Yngve Aslaksen Gram as CFO.Gram, who currently serves as the company's VP Finance, will assume his new position on July 1, 2022, succeeding Osvald Fossholm, who has decided to retire. Fossholm joined Belships in 1990, and has served as CFO since 2008. He will remain available for Belships during a transition period, the company said.

China’s Chengxi Shipyard has delivered the first of twin self-unloading transshipment newbuilds for Germany’s largest bulk carrier owner Oldendorff Carriers.Juha Koskela, Division President, ABB Marine & Ports, said the newbuilds are the first bulk carriers to feature Azipod propulsion.The delivery saw two 1.9-MW Azipod units installed on each of the 21,500-DWT transshipment bulkers as part of a package of electric, digital and connected solutions from ABB. The scope of supply also included diesel-electric power plant…

The clean-up of a massive oil spill in August from a vessel off Mauritius will likely be mostly completed by January, the bulk carrier's owner, Japan's Nagashiki Shipping, said on Thursday.Of the roughly 1,000 tonnes that spilled from the Panamanian-flagged MV Wakashio, all of the oil that had been floating in the ocean had been recovered, Nagashiki Shipping said in a statement.Work to remove the oil along approximately 30 km (18.6 miles) of coastline was proceeding smoothly and would likely be completed by January…

Doha-listed LNG and LPG carrier owner Qatar Gas Transport Company Ltd (Nakilat) reported a consolidated net profit of QR1,003m (USD $270 million)  in 2019, an increase of 12.4 percent, as compared to QR892m posted for the same period in 2018.The 2019 net profit is Nakilat’s highest profit recorded since its inception, said the Qatari shipping and maritime company.Nakilat's robust financial performance is primarily attributed to operational excellence in the management of its Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) vessels, as well as realizing additional revenues from the two additional LNG carriers, one Floating…

Norwegian shipping company Knutsen said that  Shell signed separate agreements for four LNG carriers with affiliates of Knutsen liquefied natural gas (LNG), two LNG carriers with Korea Line Corporation and two LNG Carriers with Global Meridian Holdings Limited.The LNG carrier owner and ship management  company informed that the 174,000 cbm LNG carriers will be built by Hyundai Heavy Industries and Hyundai Samho Heavy Industries.The new vessels will all be equipped with efficient dual-fuel X-DF engines, boil-off management plants, air lubrication systems and shaft generators for auxiliary power. They will be integrated into Shell’s time-chartered trading fleet.Dr Grahaeme Henderson…

Bulk carrier owner Genco Shipping & Trading said it has completed a refit program that saw scrubbers installed on board its 17 Capesize vessels as part of the New York-listed owner's plan to comply with new International Maritime Organization (IMO) regulations that limit sulfur emissions from vessels to 0.5% down from 3.5%.John C. Wobensmith, Genco Chief Executive Officer, said the scrubber refit program was the busiest drydocking period in company history.“The completion of this…

GasLog signed an Export Credit Agency-backed debt financing of $1.05 billion with 12 international banks for its current newbuilding program.The LNG carrier owner and operator has seven LNG carriers on order at South Korean shipyard Samsung Heavy Industries (SHI), five of which are for delivery in 2020 with two more due in 2021.The Newbuild Facility covers the balance due to the shipyard on delivery and consequently the final installments of the seven newbuildings are fully funded.Five of these seven newbuildings are scheduled to deliver from the yards into firm multi-year charters in 2020 and the remaining two into firm multi-year charters in 2021.The facility has a tenor of up to 12 years with an amortization profile of 18 years from vessel delivery.

Norwegian LNG carrier owner Flex LNG posted a net income of USD 0.5 million for the third quarter of this year, compared to a net loss of $3.9 million for the second quarter 2019.It  reported revenues of $29.8 million for the third quarter 2019, compared to $19.0 million for the second quarter 2019.Øystein M Kalleklev, CEO of Flex LNG Management AS, said: “In line with our expectations, the freight market has become increasingly tighter in the second half of 2019 resulting in much more favorable market conditions despite low gas prices. Flex LNG has been very well positioned for the stronger market with ships available in the spot market…

Dry bulk carrier owner and operator Oldendorff Carriers has signed a research agreement with the Massachusetts Institute of Technology's (MIT) Center for Bits and Atoms (CBA) to make its vessels more green and economical.Oldendorff, together with CBA and its campus collaborators including MIT's Sea Grant Program, will investigate disruptive improvements in ship design and propulsion to achieve the IMO 2030/50 requirements.The initial emphasis will be directed at improving hydrodynamic efficiency, which builds on work CBA has been doing with the aerospace and automotive industries. This looks beyond traditional naval architecture to a deeper integration of form and function.Anticipated research areas include morphing structures…

Teekay LNG Partners, the liquefied natural gas (LNG) carrier owner and operator, has taken delivery of its newest Arc7 icebreaking LNG carrier.According to company sources, Teekay together with its joint venture partner China LNG Shipping took delivery of the fifth 50 percent-owned Arc7 LNG carrier newbuilding Georgiy Ushakov, which immediately commenced its 26-year charter contracts servicing the Yamal LNG project.The newbuild is currently on her way to Sabetta for her first loading and will soon embark on her golden voyage.Three months ago, the Partnership took delivery of the fourth Arc7 LNG carrier newbuilding namely Vladimir Voronin…

Singapore-based gas carrier owner and operator Epic Gas has completed the refinancing of two 2010-built liquefied petroleum gas (LPG) tankers.The  two ships – the Epic Bali and Epic Borneo (each 2010 built, 7200 cbm) - were both in a finance lease structure and Epic Gas exercised a purchase option to refinance the vessels through a sale and lease back transaction with a Japanese ship owner, a press release from the fully pressurized gas carriers providing seaborne services for the transportation of LPG and petrochemicals.The bareboat charter back term is 10 years, with a purchase option from year five, it said.This transaction has reduced Epic Gas’s interest and amortization by US$1.3m p.a.

Japanese ocean transport company Mitsui O.S.K. Lines (MOL) named the newbuilding LNG carrier Sohshu Maru ordered by Trans Pacific Shipping 8, a joint venture between MOL and JERA Co., Inc., the world's biggest LNG buyer.The naming ceremony was held at the Sakaide Works of Kawasaki Heavy Industries, Kobe city, Hyogo.Among those on hand for the event were JERA Chairman Toshihiro Sano, who named the vessel the Sohshu Maru, after which his wife, Mrs. Eiko Sano cut the rope.Sohshu Maru is equipped with DFDE (Dual Fuel Diesel Electric) propulsion system(Note2). This system achieves heat efficiency, and is a more environment-friendly, economically superior design than normal Steam Turbine propulsion system.DFDE system can use both heavy fuel oil and natural gas…

Greek gas carrier owner and operator TMS Cardiff Gas has signed additional contracts with Hyundai Heavy Industries (HHI) & Samsung Heavy Industries (SHI) of Korea for the construction of 174,000 cubic meter LNG carriers with XDF propulsion. The Greek corporation said that this order is the latest in the Company’s X Carrier Series of orders taking the tally of X Carriers Series within the fleet to eleven. The Company’s fleet of managed vessels has grown to sixteen. The vessels are scheduled for delivery in 2020/2021, when they will enter into time charter contracts with energy major ShellThe vessels will be built to the highest industry specifications…

NACC Alicudi is reported to be the world’s first cement carrier equipped with IMO Tier III compliant diesel engines driving the bulk handling system. Converted in 2017 with a Van Aalst dry bulk handling system, the vessel became a unique and state-of-the-art 120m self-discharging cement carrier, with a cement handling system is based on compressors and vacuum pumps, driven by Tier III Scania engines. Together they form the heart of the unique vacuum-pressure system for pneumatic conveyance of cement…

Liquefied natural gas (LNG) carrier owner and operator FLEX LNG has appointed Øystein M. Kalleklev as Chief Executive Officer to replace Jonathon Cook, who resigned in May.Kalleklevm, who has served as Chief Financial Officer of Flex LNG since October 2017, will continue to serve as CFO until a replacement is found.Additionally, Marius Foss has joined the company as Head of Commercial. Foss comes from a similar role at Golar LNG.

Maritime Reporter & Engineering News, published since 1939, annually prints details on the world’s “Great Ships of the Year.” Here we rank from those selected in the December 2017 edition the top 10 ships of the year, according to the editors. Builder: Shanghai Zhenhua Heavy Industries Co. Builder: Hanjin Heavy Industries & Construction Co. USS Gerald R. Ford: first-of-class aircraft carrier for the U.S. Owner: U.S. Christoph de Margerie: the world’s first icebreaking LNG carrier. Builder: Daewoo Shipbuilding & Marine Engineering Co.

Mitsui O.S.K. Lines (MOL) has announced that on October 16, a naming ceremony for a newbuilding LNG carrier, jointly owned by MOL and Tokyo LNG Tanker, was held at the Tsu Shipyard of Japan Marine United Corporation. Among the crowd of well-wishers on hand for the ceremony were Tokyo Gas Co., Ltd. President Michiaki Hirose, who gave the name Energy Liberty to the vessel, after which his wife cut the rope. The Energy Liberty will be the eighth LNG carrier owned and managed by Tokyo LNG Tanker. MOL will directly manage six of those vessels, including this newbuilding vessel. After delivery, the vessel will transport LNG from the Cove Point Project in the U.S. to Tokyo Gas.

The Liberian Registry has announced strategic new appointments in a number of key areas within the Asian regional offices operated by its US-based manager, the Liberian International Ship & Corporate Registry (LISCR). Wan Ching Chiang has been promoted to Registrations Manager for the Liberian Registry in Singapore. Chiang is embarking on her fifth year with the Liberian Registry, which she joined as Registrations and Corporate Coordinator. In her new role, she will be overseeing vessel mortgage and corporate registrations for the Liberian Registry’s fast- growing number of South-East Asian clients. Chiang graduated with a Bachelor of Science degree in Business Administration and has previous experience with working in the financial industry with both HSBC and Barclays Capital.

Maritime Reporter & Engineering News (www.marinelink.com), published since 1939, annually publishes details on the world’s “Great Ships of the Year.” Of the 18 selected as “Great Ships of 2016,” here we rank the Top 10 Ships of 2016, according to the editors of Maritime Reporter & Engineering News. Why: Second in series of the world’s first LNG powered containerships. Shipyard: Philly Shipyard Inc. Owner  Reliance Industries Ltd. Owner: Arctia Icebreaking Ltd.

Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities for long routes the petrochemical market. The gas carrier owner reported profit before and after tax of minus $ 5.1 million (loss) in Q2 2016. The same quarter a year ago profit before and after tax minus $ 0.5 million. Freight revenues amounted to $ 18.5 million in this year's 2nd quarter, against 15.7 million in last year. I.M. Skaugen SE’s (IMSK) core business is liquefied gas transportation. The fleet of 15 advanced gas carriers is operated in a revenue sharing pool managed by Norgas Carriers Pte Ltd.