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Monday, January 22, 2018

Chartering Vessels News

Baltic Exchange to Develop LNG Freight Index

(File photo: Teekay Corporation)

The Baltic Exchange is looking into launching a freight index for liquefied natural gas (LNG) and is working with leading ship brokers to explore potential shipping routes that might be used as the LNG market grows, the company said on Thursday. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates, including ones used by the multi-billion dollar freight derivatives market. Singapore Exchange acquired the exchange in 2016 and since then the Baltic has been looking for new markets to develop.

Yara Orders Three Handy-size Ammonia Vessels

Yara International ASA has entered into shipbuilding contracts with Hyundai Mipo Dockyard (HMD) for the construction and delivery of three 20,600 CBM semi-refrigerated LPG carriers with an expected cost per vessel of $51 million (USD). Following an evaluation of current newbuild and time charter rates, Yara has chosen to build new vessels to replace existing time chartered vessels, covering part of its long-term transport requirement at attractive rates, meeting stricter environmental regulations and maintaining flexibility to serve Yara's production system. Yara currently has a fleet of 16-18 time chartered vessels serving its European plants and long-term off-take agreements in Trinidad and Australia.

Hanjin Fleet Shrinks

Photo: Hanjin Shipping Co

Following its bankruptcy filing, Hanjin Shipping Co.’s fleet has shrunk to about a tenth of its size after the South Korean container line returned most of its chartered vessels to owners, reports Bloomberg. All but three of the remaining 14 ships are either stranded or have been seized over unpaid bills. Hanjin once operated 97 box ships, including 61 that were chartered. As overcapacity depressed freight rates and debt piled up at the company, lenders pulled the plug on credit, prompting Hanjin to apply for court receivership on Aug. 31.

BP Pulls Plug on Oceaneering Vessel Contract

Photo: Oceaneering International, Inc

UK giant BP will end a contract off Angola with Oceaneering International about eight months early. Oceaneering International has announced that BP has exercised its right to terminate its use of the chartered vessel Bourbon Oceanteam 101 at the end of May 2016. Prior to this notice, the work was scheduled to extend through the end of January 2017. Under the terms of the contract, the costs incurred by Oceaneering associated with the early release and demobilization of the vessel are expected to be reimbursed by BP.

Vessel Hijacking Reported on Niagara River

The U.S. Coast Guard (USCG), Customs and Border Protection, Canada's Niagara Regional Police and the Niagara County Sheriff's Office are investigating a reported hijacking of a Canadian-flagged charter vessel by two Canadian men Tuesday afternoon. About 1:30 p.m. the master of an 18-foot Canadian charter vessel took his boat to Coast Guard Station Niagara, New York, to report that just moments ago two men, both believed to be Canadian citizens, had directed him at knife point to take them to shore.

Golden Ocean Group Announces Sale

Golden Ocean Group Limited has agreed to sell the vessel M/V Shinyo Brilliance. The vessel is a Panamax bulker and is one of the long-term time charter vessels previously acquired from Louis Dreyfus with an option to purchase attached to the time charter. The vessel will be delivered to the Buyers within the end of December 2007 and the agreed purchase price is $72m net. The strike price for the option is about $20m net and the transaction will thereby free up approximately $52m in cash liquidity.

Eagle Bulk Shipping Acquires 26 Ships for $1.1B

Eagle Bulk Shipping, Inc. (Nasdaq:EGLE) has agreed to acquire a fleet of 26 Supramax vessels for $1.1 billion from the parent of Anemi Maritime Services, a private Greek shipping company. The transaction is subject to completion of customary documentation and closing conditions. "This accretive transaction leverages management's strong industry relationships and reaffirms our commitment to the Supramax asset class, which we believe is highly versatile and optimally aligned with global trade demands. With a total fleet size of 49 vessels after this transaction, Eagle Bulk will be strongly positioned to generate healthy and sustainable cash flows for shareholders over the long term, said Sophocles Zoullas, Chairman and CEO. - 26 Supramax expected to be delivered between 2008 and 2012.

Norden Sells 4 Post-Panamax Bulk Carriers

Nord Dorado (Photo: NORDEN)

Further tightening its ownership focus within the dry cargo segment to medium-sized Supramax and Panamax vessels, Dampskibsselskabet NORDEN A/S has sold its final four Post-Panamax bulk carriers. Following the sale, which involved Nord Delphinus (114,167 tdw built in 2010), Nord Dorado (114,167 tdw built in 2010), Nord Pisces (114,167 tdw built in 2010) and Nord Pyxis (114,500 tdw built in 2010), Norden no longer owns Post-Panamax vessels, but still operates four chartered vessels of this vessel type. Norden said proceeds from the sale will be reinvested in Supramax and Panamax vessels.

Sovcomflot Reports on Slippery 2013 Financial Slope

SCF Melampus: Image courtesy of the owners

SCF Group (Sovcomflot)
 has released its audited financial results for the year ending 31, December 2013, indicating a slip in profitability during what they describe as another challenging year for the international tanker industry. Further implementation of programme of commercial voyages along the Northern Sea Route, involving ice-class tankers SCF Yenisei  and Viktor Bakaev (first transit completed by the Group in an East-West direction) and the bulk carrier NS Yakutia.

Cargoship Maritime, Magellano Marine to Restructure

Cargoship Maritime BV and Magellano Marine CV, Netherlands-based vessel operating companies managed by Seaarland Shipping Management BV (Amsterdam) have appointed Lazard and Venice Shipping & Logistics (VSL) as restructuring advisors. They will assist the companies to complete the restructuring process begun last year when thirteen owners of twenty-two vessels with time charters with Cargoship Maritime BV and two bareboat charters held by Magellano Marine CV were asked to agree to modified terms. Antonio Zacchello, managing director of Seaarland Shipping Management said, "Towards the end of last year we asked the owners we partner to adjust with us to the new realities of the marketplace.

LNG Tanker Al-Ghuwairiya Berths at Ras Laffan

According to a report from AmeInfo.com, a significant milestone was reached on 21st June 2011 when the LNG tanker "Al-Ghuwairiya" berthed at Ras Laffan to load her LNG cargo bound for Canaport, Canada. The Qatargas chartered vessel is one of the new generation Q-Max LNG tanker able to load a full LNG cargo of 260,000 cubic meters. The vessel is owned by the Qatar Gas Transport Company (Nakilat).   Source: AmeInfo.com  

Horizon Lines Reaches Agreement with CSX

CHARLOTTE, NC, May 2, 2011 – Horizon Lines, Inc. (NYSE: HRZ) today announced that it has finalized an agreement with CSX Corporation to reduce charter payments on three vessels leased from CSX. Under the agreement, charter hire expense has been reduced by $3 million annually, retroactive to January 2011, through the January 2015 expiration of the charter. The agreement represents a total savings of $12 million for Horizon Lines over the remaining life of the charter. The three chartered vessels…

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.

Bourbon 2009 Annual Revenues

Commenting on Bourbon’s 2009 annual revenue results, Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon said: “With 71 new units coming into the fleet in 2009, annual revenues from Bourbon owned Offshore vessels alone saw growth of 27%, while the need for chartering was substantially reduced in a context of cost-cutting by the oil and gas companies. This trend, which was particularly marked at the end of last year, is likely to continue to influence activity in the early part of this year. Revenues for 2009 amounted to 960.5 million euros, up 3.1% compared with the previous year (down 1.6% at constant exchange rates).

USCG, Paramedic Assist Man off Cape Fear

Photo USCG

Coast Guard Oak Island crew members and a Brunswick County paramedic came to the aid of an ailing man Wednesday aboard a charter fishing vessel approximately 15 miles southeast of the Cape Fear River entrance. Personnel at Coast Guard Sector North Carolina received notification from the 25-foot charter vessel with five people on board Wednesday about noon stating a 35-year-old male passenger with heart problems was in and out of consciousness approximately 28 miles southeast of the Cape Fear River entrance.

Offshore UK: Government Brokers Use of BP Emergency Vessel

The agreement between the government and BP allows HM Coasguard to call on a BP-chartered vessel in the event of a pollution incident. An operational and commercial model has been brokered with the oil industry allowing HM Coastguard to call on a BP-chartered vessel, the Grampian Frontier, to provide support in the event of a pollution incident. The Emergency Response and Rescue Vessel (ERRV) operates west of Shetland and the owner North Star Shipping is working with the Maritime and Coastguard Agency to ensure that the crew and equipment are able to respond. The involvement of the Frontier builds on the UK Government’s commitment last year to fund an Emergency Towing Vessel in waters around Scotland for the duration of the current Spending Review.

Odfjell Buys Chemical Tankship

Tankship 'Bow Engineer': Photo credit Odfjell

Odfjell buys long-term chartered vessel 'MT Bow Engineer', a 30,086 dwt chemical tanker. Odfjell, a leading company in the global market for transportation and storage of bulk liquid chemicals, acids, edible oils and other special products, has entered into a contract for the purchase of the MT Bow Engineer, a 30,086 DWT chemical tanker (IMO II/III) with 28 stainless steel cargo tanks, built in 2006 at Kitanihon Shipbuilding CO LTD in Japan. Bow Engineer has been on time charter for Odfjell from yard delivery in 2006.

TotalFina Tightens Tanker Regulations After Erika Spill

Oil giant TotalFina, which chartered the ill-fated oil tanker Erika, has tightened its policy on chartering older tankers. However, company officials stressed that a new age limit on large ships, which would not have stopped it chartering the mid-sized Erika, need to be backed up by tougher international maritime standards and greater transparency of safety checks. The company is cutting to 20 years from 25 the upper age limit on chartered vessels of 80,000 dwt and above, while keeping it at 25 years for smaller ships. The Maltese-registered Erika, of 37,283 tons dwt, was 25 years old when it split apart and sank off the French coast last month, spilling thousands of tons of fuel oil that polluted the French coast.

Samskip Charters Box Ship to Boost Norway Capacity

MV Alk  (Photo: Samskip)

Samskip has increased capacity on Norway by chartering the 657 TEU container vessel MV Alk, built in 2004 and measuring 132.60 x 19.20 metres. Caesar Luikenaar, Trade Director Scandinavia Trade says the company has deployed the 8,015 DWT vessel on the weekly Norwegian West Coast service which is experiencing significant traffic growth. “This vessel first departed last Monday and is well equipped for the weekly route between the Norwegian West Coast and Europe, departing from Rotterdam to Stavanger, Bergen, Ålesund and back again to Rotterdam,” Luikenaar said.

Odfjell Expands Fleet

Odfjell has bought M/T "Giada D" from Italian owners. The vessel is built in 1996 at Chantiere Navale de Poli, Italy and she is 10,115 dwt with stainless steel cargo tanks. The change of ownership will take place in 3rd Quarter 2006. Further, Odfjell has entered into a long-term time-charter agreement with purchase option for a vessel of 33.000 dwt with stainless steel cargo tanks. The ship will be built at Kitanihon Shipyard, Japan, and will be owned by Yuyo Steamship Co Ltd, Japan. Delivery of the newbuilding will be 3rd Quarter 2009. This agreement will bring the Odfjell-controlled Japanese deep-sea time-charter vessels on order to a total of 16 units, including five vessels from Ahrenkiel. In addition to this Odfjell has 10 newbuildings on order, and options for another 6 ships.

Search for Possible Missing Kayaker Near Kauai

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The Coast Guard is searching for a possible missing kayaker in the Kaulakahi Channel off Kauai, Sunday. Watchstanders at Coast Guard Sector Honolulu  received notification from the charter vessel HOLO HOLO that reported sighting an unmanned 15-foot yellow, two-person inflatable kayak adrift approximately seven miles seaward of Barking Sands Beach, Kauai. The only marking is a Pacific Extreme label. A red life jacket and a black and yellow paddle towel were found aboard. The charter vessel monitored the area and no one appeared to be in distress.

Statoil Awards Hull Cleaning Contract to GAC

Signing of agreement between GAC EnvironHull and Statoil at Statoil’s Headquarter in Stavanger, Norway. From left to right: Åshild Eltervåg, Nadia Nikmanesh, Elin Haave, Karl Ingvar Jorgensen and Robert Anderson. (Photo: Simon Doran)

GAC EnvironHull has signed a contract with the international energy company Statoil to provide underwater hull cleaning services for its vessels operating in Scandinavia, the Middle East and the Far East. From the second quarter of 2015, GAC EnvironHull, part of global shipping, logistics and marine services provider GAC Group, is using its HullWiper technology to remove fouling from the Statoil fleet of long term chartered vessels to enhance efficiency and reduce fuel consumption, while also preserving and protecting the maritime environment.

Brave Merchant Returns to Liverpool - Dublin service

According to Norse Merchant Ferries, its RoPax vessel, Brave Merchant, will re-join its Liverpool - Dublin service following a seven-month period on charter to the U.K. Ministry of Defence. Brave Merchant will replace the charter vessel Norse Mersey, soon to be re-delivered to its Italian owner, and will operate together with Lindarosa to maintain the twice-daily service. Initially, NorseMerchant had taken advantage of the return of Brave Merchant to provide cover for its Liverpool - Belfast passenger/freight ferry Lagan Viking while the vessel completed its drydocking program in Liverpool. It is due to make the first sailing on the Dublin route on September 8, 2003, and for a few days will operate alongside Norse Mersey while Lindarosa undergoes some routine maintenance work.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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