Japan's MOL Acquires Nordic Tankers
Japanese shipping giant MOL's Chemical Tankers unit has agreed to take full control of Triton-owned Nordic Tankers. The deal expected to close in February 2019.Denmark-based Nordic Tankers said in a press release that its current sole shareholder Triton agreed to sell and deliver 100% of shares to MOL Chemical Tankers (MOLCT) and MOLCT buys and takes delivery of 100% of shares of NT from Triton, in each case together with all rights attached to them on and with effect from the…
NYK Gets Green Loan for Methanol-Fueled Chemical Tanker
Japanese shipping giant Nippon Yusen Kabushiki Kaisha (NYK) has secured a green loan of JPY 2 billion (USD 18.04 million) to finance the construction of its first methanol-fueled chemical tanker set for delivery in 2019."A green loan is a loan whose proceeds are used solely for the purpose of funding environment-friendly projects. NYK will continue to take steps for the development and use of technology linked to environmental performance by proactively promoting green finance, said a press release from the company.This green loan has been certified by Japan Credit Rating Agency Ltd.
Ardmore Shipping Appoints Curtis McWilliams as Chairman
The US-based chemical tanker company Ardmore Shipping Corporation announced that Reginald L. Jones is stepping down as Chairman of the Board of Directors of the Company effective December 31, 2018. Curtis McWilliams has been appointed as Chairman of the Board effective January 1, 2019, said a stock exchange announcement from the company.Jones will remain as a director until the Company's annual general meeting in 2019, when he does not intend to stand for re-election. He is a co-founder and Managing Partner of Greenbriar Equity Group LLC…
Danish Compatriots Test Emissions Monitoring Solution
Danish shipping company Nordic Tankers, Dania Ship Management and Danfoss IXA have been cooperating on testing new innovative technology for monitoring emissions on an ongoing basis.The chemical tanker company hailed that the result is a front runner solution to ensure global enforcement of the IMO’s requirements for sulphur emissions way before any legislation is pushed through.“The sensor equipment from Danfoss IXA is an innovative piece of technology that enables ship owners to continuously prove compliance with the IMO’s requirements for sulphur emissions.
Avic Dingheng Shipyard Delivers LNG Vessel to Sirius Shipping
Swedish shipping company Sirius Shipping Sirius Shipping has taken delivery of its first 7999-dwt LNG-ready oil/chemical tanker Saturnus from the Avic Dingheng Shipyard in China.The Backman family- founded company said in a press release that the work to develop the Evolution concept started six years ago with the purpose to develop a vessel design where the entire underwater body, hull, rudder and propeller would be designed and chosen to obtain the best possible hydrodynamic…
Odfjell: Chemical Tanker Market Remains Stable
Odfjell SE has reported its results for Third Quarter 2018. The results reflect a stable chemical tanker market and stable underlying results from Odfjell Terminals when adjusting for the Rotterdam terminal.Odfjell SE reports EBITDA of USD 32 million compared with USD 37 million in the previous quarter.Highlights for the third quarter of 2018:• EBITDA of USD 27 million from Odfjell Tankers compared to USD 28 million in second quarter• ODFIX was down 2.0% for the quarter compared…
TOP Ships Signs New TC with BP
Greece-based ship-owning company TOP Ships announced that it has agreed a new time charter employment contract for 2 years with BP Shipping Ltd for its product/chemical tanker M/T Eco Revolution.The international owner and operator of modern, fuel efficient “ECO” tanker vessels currently focusing on the transportation of crude oil and petroleum products, said in a press release that the new time charter will commence in January 2019 immediately after the expiry of the present…
Ardmore Shipping Adds SEDNA Platform
Product and chemical tanker operator Ardmore Shipping has chosen SEDNA as its new email management and team collaboration platform for their global commercial desks, including operations, chartering and commercial finance teams.According to Ha Eun Ruppelt, Ardmore Shipping’s Commercial Project Manager, the decision to choose SEDNA began with the organization’s commitment to achieving the same high standards of efficiency and operational performance in its commercial activities…
New Chemical Tankers Guidance from ABS
ABS released new guidance and software to assist chemical tanker owners, operators and shipyards: the ABS Guide for Materials and Welding for Stainless Steels and ABS CHEM software.The ABS Guide for Materials and Welding for Stainless Steels provides minimum requirements for properties, manufacturing processes and fabrication techniques applicable to common types of stainless steels used in the marine and offshore industries. This new guidance is particularly relevant to construction…
Ship's Guards Repel Pirate Attack off Somalia Coast
Security guards aboard a Hong Kong-flagged cargo ship repelled an attack by pirates in a gunbattle off Somalia's coast this week, the European naval force in the region said on Friday.It was only the second reported attempt by Somali pirates to seize a commercial ship this year, after a resurgence of attacks in 2017 following years of relative calm brought about by regular patrols of the European Union Naval Force (EUNAVOR).On Tuesday, pirates approached and opened fire at the Hong Kong-flagged MV KSL Sydney freighter 340 nautical miles off Somalia…
AET Names its First LNG-Fueled Aframax Pair
Petroleum and chemical tanker owner and operator AET Tankers has named and welcomed its first LNG dual-fuelled aframax vessels, Eagle Brasilia and Eagle Bintulu.According to a press release of the Singapore-based company, the ceremony for the vessels was held at the Samsung Heavy Industry Co Ltd’s (SHI) shipyard in Geoje, South Korea. Both vessels have been taken on long-term charterby Shell International Trading and Shipping Company Limited (Shell), primarily for operations in the Atlantic Basin…
Stena Bulk Forms Chemical Tanker JV with Bay Crest Management
Golden-Agri Stena, a joint venture between Sweden based tanker shipping company Stena Bulk and Indonesia’s largest palm oil producer Golden Agri-Resources, has started a new joint venture with Japan's Bay Crest Management for the the operation and commercial management of chemical tankers.The new joint venture, GSB Tankers, will commence operation on January 1, 2019, managing 18 chemical tankers to start, with the aim of managing 30 vessels within the next two years.The joint venture will operate out of the existing premises of Golden-Agri Stena.
Major Oil Spill in Rotterdam
The Odfjell tanker Bow Jubail struck a jetty at the Port of Rotterdam, rupturing her hull and releasing an estimated 220 tons of bunker fuel into the water. No injuries were reported, and she berthed without further incident. According to a Reuters report, a clean-up operation was underway after an oil freighter punctured its hull while mooring, releasing a “considerable” amount of heavy fuel oil. Odfjell, the owner of the freighter Bow Jubail, said in a statement the ship had lost 220 tons of heavy fuel oil in the incident, which took place Saturday afternoon.
M/T Eco Palm Springs Delivered
Tanker vessel owner and operator TOP Ships Inc. announced that it took delivery of its 50 percent owned 49,703 dwt newbuilding product/chemical tanker M/T Eco Palm Springs on May 23, 2018. The vessel was constructed at the Hyundai Mipo Vinashin shipyard in South Korea.On May 26, M/T Eco Palm Springs commenced its three year time charter employment with Clearlake Shipping Pte Ltd.
Essberger Tankers Sign Deal with GAC
Europe’s chemical tanker operator Essberger Tankers has entrusted its ship agency requirements to Gulf Agency Company (GAC) companies in Norway, Sweden, Denmark and Finland.Under the agreement, GAC will handle an estimated 600-800 port calls a year for Essberger Tankers’ fleet of vessels carrying a wide range of high-grade chemicals.The deal comes after more than 20 years of successfully managing Essberger’s port calls in Finland. The shipping and logistics service provider’s ability to deliver the same high level of support from its expanding network of offices in Sweden…
Laino Named Chembulk CCO
Chembulk Tankers named Steve Laino its Chief Commercial Officer, based out of the Southport office and responsible for all facets of our commercial strategy worldwide, including chartering, projects and client relations. Laino comes to Chembulk with more than two decades of diverse experience in the maritime transportation industry, with experience in the chemical tanker sector. Laino has held roles in operations both at sea and ashore, in commercial capacities as a tanker broker, projects broker and shipowner. Most recently, Laino held the role of Chief Operating Officer of Chemical Transportation Group (CTG), which he founded together with two partners and a group of investors in 2014.
Sale of Rotterdam Terminal Impacts Odfjell
Tank terminal transactions will further strengthen Odfjell SE but the company experienced another challenging quarter in the chemical tanker markets.The second quarter 2018 results reflect the impact of the sale of the Rotterdam terminal, while underlying results from Odfjell Terminals improved compared to the previous quarter. The chemical tanker market remains challenging, but Odfjell’s TCE performance remains stable.“The sale of our Rotterdam terminal will further strengthen Odfjell SE as a company.
Portugal’s Naval Rocha Shipyard Reports Robust Activity
Portugal’s Naval Rocha shipyard is reporting a surge in activity in the opening half of 2018 after delivering a series of drydock, wet basin and pier-side projects.Naval Rocha commercial director Sergio Rodrigues said the yard located in the heart of Lisbon Harbour on the north bank of the River Tagus has completed a wide variety of repair and conversion projects.Key work has involved containers, cruise, passenger and sailing ships, cargo and research survey vessels, naval ships, anchor handing tugs, supply vessels and dredgers.“Naval Rocha is a unique, modern shipyard,” said Mr Rodrigues.
Singapore, Malaysia Joint Chemical Spill Exercise at Sea
The Maritime and Port Authority of Singapore (MPA) and the Marine Department of Malaysia (MDM) conducted a joint chemical spill exercise at sea along the East Johor Strait to test the Joint Emergency Response Plan (ERP) for Chemical Spill Incidents in the East Johor Strait. 2Jointly developed by MPA, MDM, the National Environment Agency (NEA) and Johor Department of Environment (DOE), the objective of the joint ERP is to respond to and mitigate chemical accidents involving the seaborne transportation of hazardous chemicals along the East Johor Strait.
Odfjell Says It Will Not Install Scrubbers
Chemical tanker firm Odfjell said it will not invest in scrubbers to clean fuel on its vessels to comply with new stricter emission rules from 2020 but instead buy fuel which meets the new standards.To combat air pollution, the International Maritime Organization (IMO), the United Nations' shipping agency, has set global regulations to cap the sulphur content in marine fuel, known as bunkers, at 0.5 percent, down from 3.5 percent now.Shipowners can either install scrubbers, which clean the cheaper high sulphur fuel oil, or buy costlier marine gasoil."Our conclusion for the moment is that it do
A&P Falmouth Completes Troy Refit
A&P Falmouth has completed the dry docking of ABC Maritime’s double hull oil and chemical tanker, Troy. Beating competition from European shipyards, A&P Falmouth carried out a comprehensive 17-day refit package during the vessel’s dry-docking last month. Work included the class intermediate survey, renewal of the main deck cargo heating pipework, extensive deck cargo washing and line replacement, the overhaul of the main engine including turbo charger, fuel gear and associated pumps…
Team Tankers Back into the Black
Bermuda-based chemical tanker company Team Tankers International managed to return to profitability in the second quarter of 2018, as 14 new ships from recent acquisitions boosted earnings.The company posted a net income of USD 4.4 million in Q2 2018, compared to a net loss of USD 7.3 million in Q1 2018 and a net loss of USD 7.1 million in Q2 2017.The average time charter equivalent rate for the fleet was $11,316 per day this quarter, compared with $10,610 per day in the previous quarter.Team's CEO…
Ocean Yield Invests in Four 3,800 TEU Container Vessels
Ocean Yield announced that it has agreed to acquire four 2014 built 3,800 TEU container vessels with 12-year bareboat charters to companies owned and guaranteed by CMB NV. The aggregate purchase price is approximately USD 120 million net of pre-paid charter-hire. The vessels are built in 2014 with a capacity of 3,800 TEU and are expected to be delivered to the Company during the early part of third quarter 2018. CMB will have certain options to acquire the vessels during the charter period, with the first purchase option exercisable after five years.