Marine Link
Monday, October 15, 2018

Chemical Tanker News

Major Oil Spill in Rotterdam

Bow Jubail. Photo: The Odfjell Group

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

M/T Eco Palm Springs (Photo: TOP Ships)

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.

Stena Bulk Forms Chemical Tanker JV with Bay Crest Management

GSW Frontier (Photo: Stena Bulk)

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.

AET Names its First LNG-Fueled Aframax Pair

Pic: AET Tankers Pte Ltd

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…

Essberger Tankers Sign Deal with GAC

 Image: 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

Jesper Ridder Olsen. Photo: Maersk Drilling

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

Naval Rocha commercial director Sergio Rodrigues

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

Officers from Maritime and Port Authority of Singapore (MPA), National Environment Agency of Singapore (NEA) and Marine Department of Malaysia (MDM) observing the exercise. Photo: Maritime and Port Authority of Singapore (MPA)

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

(Photo: Odfjell)

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

Pic: A&P Falmouth

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

Photo: Team Tankers International

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

Image: Ocean Yield ASA

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.

Chemical Tankers Face Challenging Year: Stolt-Nielsen

Niels G. Stolt-Nielsen. Photo: Stolt-Nielsen

Chemical tankers are sailing into another challenging year, according to the London based chemical carrier, tank container and terminals group Stolt-Nielsen's Chief Executive Officer, Niels G. Stolt-Nielsen. "Our outlook for the first half of 2018 remains essentially unchanged. We do not anticipate any substantial improvement in the chemical tanker market until 2019 when the orderbook reduces and the supply/demand balance improves," he said. Niels added: "For Stolthaven Terminals…

Navig8 Chemical Tankers Still in Red

Photo: Navig8 Chemical Tankers Inc.

Despite a shift in demand in the chemical shipping sector, Navig8 Chemical Tankers ended the fourth quarter ended 31st December, 2017 with a widened net loss of USD 3.7mln. Revenue for 4Q17 was $43.3 mill, compared to $33.9 mill for 4Q16. “The chemical tanker market began to show signs of improvement in the fourth quarter led by stronger demand in the chemical sector and tightening in the MR product tanker market,” said CEO Nicolas Busch. “With our fleet fully delivered, we are…

Pirates Attack Chemical Tanker off Somalia

Picture courtesy of http://www.shipspotting.com and lk.lv/en/lsc-shipmanagement/EU Navfor

Suspected Somali pirates attacked a Singaporean-flagged chemical tanker on Friday but were repelled by guards on board, the European Union's Naval force said, the first such incident in several months. EU Navfor said in a statement the 50,000 metric tonne MT Leopard Sun was sailing from Sohar in Oman to Cape Town, South Africa, when it was attacked by two skiffs 160 nautical miles (295 km) off the coast of Somalia. "The skiffs approached from the stern and fired upon her, after which the on-board Private Armed Security Team returned fire with warning shots," EU Navfor said.

Team Tankers Buys Two Tanker Carriers

Image: Laurin Maritime

Team Tankers International announced that it has entered into share purchase agreements to acquire all outstanding shares in each of Laurin Shipping and Anglo-Atlantic Steamship Company. In combination with associated ship purchases, the total estimated enterprise value of the series of transactions is approximately $206 million. Upon completion of the transactions, Team Tankers will grow its fleet from 37 to 52 vessels. With the acquisition of Laurin Shipping, trading under the Laurin Maritime brand…

Triyards Loses Shipbuilding Contract

Photo: Triyards Holdings

Cash-strapped shipbuilder Triyards Holdings Limited has received a termination notice for a chemical tanker design and construction deal. The Singapore-based yard group said after Thursday trading hours that its subsidiary Saigon offshore Fabrication and Engineering has received notice of termination for the design and construction of a chemical tanker at a contract value of US$25.5 million. "Pursuant to the Notice, the Buyer will claim for the reimbursement of all sums paid by the Buyer in advance on account of the Contract in an amount of US$5.1 million," said a statement.

Amver Tanker Rescues Sailors near Honduras

Chemical tanker Nordic Wolverine rescued two sailors from a disabled 55-foot sailboat approximately 210 miles east of Costa de Mosquitos, Honduras on Thursday, February 22, 2018. U.S. Coast Guard rescue personnel at the Seventh District command center received a report from rescue authorities in Panama of the disabled sailboat and shared Amver surface picture information with them. The Amver participating Norwegian-flagged tanker was identified and agreed to divert and search for the sailboat. "We have passed through the distress position and have made radio call outs on channel 16 but have found nothing," reported the captain of the Nordic Wolverine. "We intend to continue on our voyage to Houston," the ship's captain added.

ABB to Equip AET's New Shuttle Tankers

(Image: ABB)

ABB said it has won an order from Korean shipbuilder Samsung Heavy Industries to equip two new 125,000 DWT shuttle tankers contracted to the world's largest offshore operator Statoil ASA. Ordered by petroleum and chemical tanker owner and operator AET and scheduled for delivery in 2019, the vessels will transport oil from the Statoil fields on the Norwegian and U.K. continental shelves to land-based terminals. The two twin-skeg specialist DP2 offshore loading shuttle tankers will feature a range of ABB’s power and automation solutions, including the power distribution system Onboard DC Grid.

Stolt-Nielsen Names Grüner-Hegge CFO

Jens F. Grüner-Hegge is the new CFO at Stolt-Nielsen (Photo: Stolt-Nielsen)

Stolt-Nielsen Limited announced Jens F. Grüner-Hegge has been appointed as its new Chief Financial Officer, effective from April 2, 2018. Grüner-Hegge, who has served as Vice President, Corporate Finance since 2007, succeeds longtime CFO Jan Chr. Engelhardtsen, who will retire from his executive role and has been appointed to fill a vacancy on the company’s board of directors. With the addition of Engelhardtsen as a director, the SNL Board now has seven members, four of which are independent.

Team Tankers International Acquires Two Firms

Image: Team Tankers International

Team Tankers International announced that the acquisitions of Laurin Shipping AB and Anglo-Atlantic Steamship Company have been completed. The Bermuda-based chemical tanker company on 28 February 2018 and 23 March 2018 regarding its agreements to acquire all of the outstanding shares in each of Laurin Shipping AB and Anglo-Atlantic Steamship Company Ltd. The preliminary purchase prices payable at closing for the shares in Laurin Shipping AB and Anglo-Atlantic Steamship Company Ltd. have been estimated to USD 10.4 million and USD 55.3 million respectively.

Bahri Tanker NCC Amal Carries Chemical Cargo to China

Photos: Bahri

National Shipping Company of Saudi Arabia (Bahri) announced the transportation of the first chemical shipment from Aramco Trading Company (ATC), a wholly-owned subsidiary of Saudi Aramco that trades refined, liquid chemical and polymer products, via ‘NCC Amal,’ a 45,000 DWT Bahri chemical tanker which left Port of Rabigh heading to China. The shipment, which contains 25,000 metric tonnes of paraxylene (PX) and 20,000 metric tonnes of monoethylene glycol (MEG), marks the completion of Phase II of the Petro Rabigh Company (PRC) project…

Maritime Reporter Magazine Cover Oct 2018 - Marine Design Annual

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