ABS Brings Together Taiwan's Industry Leaders
Taiwan’s maritime industry leaders met to debate decarbonization, digital technologies and the future of safety at the annual ABS Taiwan National Committee meeting.“As the leading class organization in Taiwan, ABS is able to call on the expertise of leaders to inform our approach to meeting industry challenges such as meeting IMO 2030 and 2050 objectives while ensuring safety standards are not compromised and keep pace with technological challenges,” said Christopher J. Wiernicki, ABS Chairman, President and CEO, who actively participated in the Committee program.
Seacor to Acquire JV Partner's Sea-Vista Stake
Seacor Holdings Announces Acquisition of Joint Venture Partner’s Interest in Sea-Vista.SEACOR Holdings Inc. announced that it has become the sole owner of its consolidated SEA-Vista joint venture, acquiring through a subsidiary the 49% interest that had been owned by an affiliate of Avista Capital Partners (the “Seller”). Purchase consideration consisted of $106 million in cash and 1,500,000 shares of the Company’s common stock (the “Consideration Shares”).In connection with the purchase…
ICS Weighs in on Proposed Panama Canal Tolls
Global Shipping Industry Delivers Comments to Official Consultation on Proposed Modifications to Panama Canal Tolls.The Panama Canal Authority (ACP) is conducting a public consultation on a proposal to adjust the Panama Canal tolls for containerships, vehicle carriers, dry bulk carriers, tankers, chemical carriers, LPG and LNG vessels, passenger vessels and small vessels. The proposed new toll charges are anticipated to enter into effect on 1 January 2020, the same day as the IMO ‘Global Sulphur Cap’ regulation.
"A Maritime Disaster Waiting to Happen"
Since the founding in 2016, cyber defence company Naval Dome has won awards for its Endpoint cyber defense system and achieved the highest level of security certification from classification society DNV GL, helping to protect merchant ships, cruise ships and yachts from cyber-attack.In 2019, Naval Dome optimized Endpoint with a “Dashboard” App, providing maritime users with a clear picture of the cyber status of all critical systems on board the ship, designed to allow users…
Oman Shipping Orders 3 VLCCs at DSME
Oman Shipping Company (OSC), a member of the ASYAD Group, has signed an agreement for the construction of three very large crude carriers (VLCCs) with South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).The triple 300,000 dwt vessels are expected for delivery during the first quarter of 2020. OSC will charter out the vessels to oil majors under long-term contracts.OSC said the three 300,000 dwt VLCCs were part of OSC’s fleet renewal plan and long term contracts with…
Bahri Expands Footprint in Asia-Pac
The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company…
HazSub Spill Response Plans
On August 18, 1990, the Oil Pollution Act of 1990 (OPA 90) was enacted into law. Section 4202 of that Act amended the Federal Water Pollution Control Act (FWPCA or Clean Water Act) to require tank vessels and marine transportation-related facilities to prepare and submit to the US Coast Guard plans for responding, to the maximum extent practicable, to a worse case discharge, and to a substantial threat of such a discharge, of oil or a hazardous substance carried in bulk as cargo.
Shipbuilding: OSC Orders VLCC Pair
Oman Shipping Company (OSC) is expanding courtesy of an order for a pair of newbuild Very Large Crude Carriers (VLCC ) with Daewoo Shipbuilding & Marine Engineering (DSME).According to Michael Jorgensen, OSC's CFO and acting CEO, said the VLCCs are expected to be deployed in the spot market, as the company plots further fleet expansion in the bulk and container market.Today OSC’s fleet includes 49 vessels including 16 VLCCs, 17 product tankers and 4 chemical carriers.The two latest additions will be constructed at DSME’s Okpo shipyard measuring 336m in length…
AET Grows in Brazil
With the ongoing development of deepwater pre-salt plays and a decreased demand on local content in tankers and other vessels, Brazilian national operator Petrobras and other super-majors have been looking abroad for better rates and reliable operators of shuttle tankers. Claudio Paschoa, Maritime Reporter’s correspondent in Brazil spoke to Peter Liew, Global Director – Mid Size Tankers, Crude Shipping, about AET Tankers’ history and its operations in Brazil.AET (formerly American Eagle Tankers) was founded in Houston in 1994 primarily to conduct lightering operations in the Gulf of Mexico.
Oman Shipping: Strong Domestic Performance
Oman Shipping Company (OSC) is reporting strong performance in domestic markets following long-term deals with local refineries and traders including ORPIC and OTI.OSC’s growth in the region is being driven by a 20-year contract to transport condensate for ORPIC (Oman Oil Refineries and Petroleum Industries Company) and a 15-year deal transporting methanol for OTI (Oman Trading International) from Salalah Methanol plant.The company is further supporting the export of LPG from Sohar Refinery to Yemen, Sudan, India, Bangladesh and Sri Lanka.
Shipping Executive Focus: Art Regan, Executive Chairman, Genco Shipping & Trading
Art Regan, who has been the Executive Chairman at Genco Shipping and Trading (NYSE: GNK) since October 2016, personifies the new type of shipping executive, savvy on all things maritime (he is a graduate of SUNY Maritime College at Fort Schuyler) coupled with a keen understanding of market dynamics. Regan commenced his maritime industry career at sea, rising through the shipboard officer ranks completing as a Master Mariner during a more than ten-year period sailing on oil tankers and dry bulk vessels.
Recent Vessel Sales: December 2017
Vessel sales for December 2017 (as of January 1, 2018) as prepared by Shipping Intelligence, Inc., New York.
Recent Vessel Sales: October 2017
Vessel sales for October 2017 (as of November 1) as prepared by Shipping Intelligence, Inc., New York. 10/29 - COASTAL NO.
Recent Vessel Sales: July 2017
Vessel sales for July 2017 (as of August 1) as prepared by Shipping Intelligence, Inc., New York.
Recent Vessel Sales: May 2017
Vessel sales for May 2017 (as of June 1) as prepared by Shipping Intelligence, Inc., New York.
Gulf Bidders Emerge for UASC-linked Shipping Unit
Gulf-based bidders have emerged for the part-owned subsidiary of United Arab Shipping Company (UASC) whose sale is key to finalising the merger between UASC and German container shipping line Hapag Lloyd , sources close to the matter said. Last week, sources told Reuters that Hapag Lloyd was close to completing the 7-8 billion-euro merger after UASC shareholders agreed terms to repay outstanding debt. A sale of United Arab Chemical Carriers (UACC) - in which UASC holds the biggest stake - is also part of the terms of the Hapag Lloyd merger deal.
Hapag-UASC Tie-up Nears Completion
German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company (UASC) after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters. The deal to create the world's fifth-biggest shipping company, valued at about 7 billion to 8 billion euros ($7.8-$8.9 billion), had been scheduled to complete at the end of last year. It would give Hapag Lloyd access to bigger ships on the major Asia to Europe trade route.
Recent Vessel Sales: April 2017
Vessel sales for April 2017 (as of May 1) as prepared by Shipping Intelligence, Inc., New York.
Hapag Lloyd-UASC Merger Hits Snags
A merger of Hapag-Lloyd and United Arab Shipping Company (UASC) has hit a snag, with the German shipping line and some banks seeking assurances that UASC's top shareholder Qatar remain committed to the deal for the long term, sources say. Hapag Lloyd Chief Executive Rolf Habben Jansen told a news conference this week he had underestimated the complexity of the 7 billion to 8 billion euro ($7.6-$8.7 bln) deal, which will create one of the world's largest shipping lines. Two finance sources…
Recent Vessel Sales: February 2017
2/19 - MSR NO.
IRISL, Hyundai Ink Shipbuilding Contract
Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding group, announced on that it signed contracts, financed by Korean financiers to build 14,500 TEU class containerships and 49,000 DWT product/chemical carriers with Islamic Republic of Iran Shipping Lines (IRISL), one of the biggest shipping companies in the middle east. The negotiations for these contracts commenced in December 2015 with mutual good will and a series of constructive meetings in Seoul and Tehran, resulted in conclusion and signing of the contracts on December 9, 2016 in Seoul.
Shipping Recovery Faces Supply/Demand Challenges
The shipping industry faces a stormy road to recovery, with uneven supply/demand trends set to test the nerve of investors and operators, according to independent research and consultancy firm Maritime Strategies International (MSI). Addressing the Hansa Forum in Hamburg, Germany this week, MSI Senior Analyst James Frew warned that the industry will continue to face multiple challenges to a sustained recovery despite positive demand fundamentals. “The commodity shipping sectors…
Recent Vessel Sales: October 2016
Vessel sales for October2016 (as of November 1) as prepared by Shipping Intelligence, Inc., New York.