Baltic Exchange Enters Chemical Tanker Market
The Baltic Exchange has launched a new series of chemical and agricultural oil assessments.The Baltic Chemical and Agricultural Oil Assessments (BCAA) will be produced on a weekly basis as of February 2025. The assessments are designed to serve a segment of the freight market – across owners, charterers, brokers and trading companies.The BCAA will offer insights into a series of trade routes covering “easy-chemicals” like benzene, biofuels and caustic soda, as well as vegetable oils.
ABS, American P&I Club Launch Chemical Tanker E-learning Material
The American P&I Club and ABS have worked together to produce a new e-learning module on chemical tanker operations, brought to life by state-of-the-art animations by IDESS IT, a frequent contributor to the American Club’s loss prevention capabilities.The new e-learning module, entitled CHEMICAL TANK, has been developed in accordance with the IMO Model Course 1.03 Advance Training for Chemical Tanker Cargo Operations - 2016 Edition in compliance with the competency and knowledge requirements as contained in the 2010 STCW Code…
Stolt-Nielsen Acquires Jo Tankers
Stolt-Nielsen Limited announced today that it has completed its previously announced acquisition of the chemical tanker operations of Jo Tankers, consisting of 13 chemical tankers and a 50% share in a joint venture with eight chemical tanker newbuildings, representing an enterprise value of $575.0 million.
Authorities Approve Stolt-Nielsen’s Jo Tankers Acquisition
Stolt-Nielsen Limited said it has it received competition authority approval to acquire the chemical tanker operations of Jo Tankers. The acquisition is expected to be finalized before the end of November. The transaction comprises 13 chemical tankers and a 50 percent share in a joint venture with eight chemical tanker newbuildings, representing an enterprise value of $575 million. The acquired ships would satisfy the tonnage-replacement needs of the Stolt Tankers' fleet for the next several years and add new trade routes that enhance the Company's global service capabilities. Funding for the transaction has been secured through Stolt-Nielsen Limited's main commercial banks with a combination of bridge financing, secured term loans and corporate funds.
Stolt-Nielsen buys Jo Tanker's Chemical Tanker Ops
Stolt-Nielsen buys competitor's chemical tanker operations. Deal includes 13 chemical tankers and 50 pct in 8 newbuilds. Stolt-Nielsen agrees to acquire the chemical tanker operations of Jo Tankers. Stolt-Nielsen says total purchase price is approximately $575 million, including proportional share of newbuildings in joint venture. The transaction comprises 13 chemical tankers and a 50 pct share in a joint venture with eight chemical tanker newbuildings. Stolt-Nielsen says funding for transaction has been secured through some of Stolt-Nielsen limited's main banks with a combination of bridge financing, secured term loans and available corporate funds. Stolt-Nielsen ltd says transaction is subject to competition authority approval, with a decision expected before end of September 2016.
ICS Publishes Chemical Tanker Safety Guide
A fully updated edition of the definitive industry guidance on the safe operation of chemical tankers has just been published by the shipping industry’s global trade association, the International Chamber of Shipping (ICS). The new edition of the ICS Tanker Safety Guide (Chemicals) replaces the previous edition issued in 2002. ICS recommends that a copy is carried on board every tanker engaged in the carriage of chemical cargoes, and that copies are also held within shipping company technical departments.
ABS Releases Chemical Tanker e-Learning Package
ABS, a provider of maritime classification services, launched Chem-eL, a specialized training package designed to support safety and competence in chemical tanker operations. Chem-eL is a sector-specific e-learning marine product developed in accordance with the requirements stated in the International Maritime Organization's International Convention on Standards of Training, Certification and Watchkeeping for Seafarers and the relevant IMO Model Course. Developed by ABS in cooperation with Malaysian Maritime Academy (ALAM), a subsidiary of the MISC Bhd.
Resolve Salvage & Fire Expands in Singapore
Resolve Salvage & Fire (Asia), a division of United States based Resolve Marine Group, Inc., has expanded its presence in Singapore with the addition of Ajay Prasad, Operations and Technical Director. Prasad joins Resolve’s Managing Director- Singapore, Anuj Sahai, in the company’s Singapore office at #34-11 Centennial Towers, 3 Temasek Avenue, Singapore 039190. In addition to emergency and crisis response services, Resolve provides consulting services for operational and safety excellence to the international shipping and cruise industries, worldwide.
