Containerships News

09 Jan 2020

NMM Acquires Five Containerships

File Image: Navios Maritime Containers

Greek owner and operator of dry cargo vessels Navios Maritime Partners has taken delivery of five containerships upon the liquidation of Navios Europe.The five vessels comprise three Sub-Panamaxes and two Panamaxes, has been acquired for about USD 52 million.The vessels - 2,007 TEU Esperanza N, the 2,741 TEU Protostar N, the 2,824 TEU Harmony N, the 3,091 TEU Castor N and the 3,398 TEU Solar N - were built between 2006 and 2008.Navios Partners received approximately $49.6 million in satisfaction of its receivable from Navios Europe I.Separately…

30 Dec 2019

DP World to Invest $500 in Jeddah Port Upgrade

Photo: DP World

The global port operator DP World has been awarded a 30-year Build-Operate-Transfer (BOT) concession by the Saudi Ports Authority (Mawani), for the management and development of the Jeddah South Container Terminal at the multi-purpose Jeddah Islamic Port.According to a press release from the UAE-based world leader in global supply chain solutions, under the agreement, DP World will invest up to $500 million to improve and modernize the Jeddah Islamic Port, including major infrastructure development to enable the Port to serve the ultra-large container carriers (ULCC’s)…

26 Dec 2019

Matson Takes Delivery of First Kanaloa Class ConRo

Matson's newest vessel, the largest combination container / roll-on, roll-off ("con-ro") ship ever built in the United States. Image Credit: NASSCO

Largest "Con-Ro" Ship Built in U.S. Will Serve Hawaii.Matson today took delivery of its newest vessel, the largest combination container / roll-on, roll-off ("con-ro") ship ever built in the United States, from General Dynamics NASSCO. Christened 'Lurline,' the new ship is the first of two "Kanaloa Class" con-ro vessels being built for Matson by NASSCO at a total cost of approximately $500 million for the pair, and the third of four new vessels that Matson is putting into service between 2018 and 2020.

16 Dec 2019

CMA CGM Welcomes 4th LNG-Powered Ship

Photo: CMA CGM Group

CMA CGM's Containerships has announced delivery of its fourth container ship powered by liquefied natural gas (LNG), the 1,380-TEU Containerships Arctic.After the introduction of its three sister ships, the CMA CGM Group took delivery of the Containerships Arctic, on December 10th, 2019. Once it will have made its way from Guangzhou Wenchong Shipyard to Europe, the vessel’s first LNG bunkering will be carried out in Rotterdam. There, it will fuel an approximate of 200 metric tons…

04 Dec 2019

Total, MOL Charter LNG Bunker Vessel

Navire avitailleur GNL 3D LNG bunkering vessel (Photo: Total)

Total Marine Fuels Global Solutions (TMFGS) and , Ltd. (MOL) have signed a long-term charter contract for a second large LNG bunker vessel, to be delivered in 2021. She will be positioned in the Marseille-Fos area in France.This bunker vessel will be built by Hudong-Zhonghua Shipbuilding in China. She will have a capacity of 18,600 m³ for a length of about 135 meters and will be fitted with the Mark III membrane containment system provided by French company GTT.This vessel has been specifically designed to supply LNG bunker in the Mediterranean area to a wide range of vessels‚Ķ

04 Dec 2019

CMA CGM and Total to Develop LNG Ship Refueling in Marseille

© saiko3p / Adobe Stock

Container shipping firm CMA CGM will use the French Mediterranean port of Marseille for refueling some of its planned gas-powered vessels, backed by a supply partnership with energy group Total.Total will supply liquefied natural gas (LNG) and a refueling barge to enable CMA CGM to refuel LNG-powered vessels at the Marseille-Fos hub starting in 2021, the companies said in a joint statement on Wednesday.The initiative covers five vessels with a capacity of 15,000 twenty-foot equivalent…

02 Dec 2019

Singapore Raises Concern over HHI-DSME Deal

Image: CCCS

The Competition and Consumer Commission of Singapore (CCCS) has expressed concern about the agreement of fusion notified from the South Korean shipbuilding groups Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering Co. (DSME).The authority antitrust of Singapore has raised competition concerns with the proposed acquisition by Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE) of a majority interest in DSME and the intended integration of the businesses of KSOE and DSME.Earlier…

27 Nov 2019

CMA CGM to Raise $2bn Via Selling Terminal, Ships

Pic: CMA CGM

French container shipping giant  CMA CGM plans to sell selected port terminals, ships and other assets to raise roughly $2 billion to finance its acquisition of CEVA Logistics, according to Reuters.Chinese state-owned conglomerate China Merchants Port has entered into a Memorandum of Agreement (MOA) with CMA CGM to acquire interests in a portfolio of 10 terminals from the French container line and its affiliates via Terminal Link for a total consideration of $955 million.As part of the deal‚Ķ

26 Nov 2019

NMP Acquires Eleven Vessels

Image: Navios Maritime Partners

Navios Maritime Partners (NMP) s agreed to acquire eleven vessels and liquidate Navios Europe I.As of September 30, 2019, Navios Partners had a receivable of $48.2 million from Navios Europe I. On November 22, 2019, an agreement was reached to liquidate Navios Europe I. The agreement is subject to definitive documentation which is expected to be completed by the end of 2019.It is expected that Navios Partners will acquire the five containerships - Esperanza N, Protostar N, Harmony N…

26 Nov 2019

Performance Shipping Adds Aframax Tanker

Image: Performance Shipping

The global provider of shipping transportation services through its ownership of vessels, Performance Shipping has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/t Briolette (formerly Maersk Jamnagar).The containerships and tanker vessels said in a press releases that it had entered into an agreement to purchase the 2011-built Aframax tanker vessel of 104,588 dwt in June 2019. Including the newly delivered m/t Briolette, Performance…

25 Nov 2019

GSL Acquires 2 Post-Panamax Containerships

Pic: Global Ship Lease

UK-based containership owner Global Ship Lease (GSL) has agreed to acquire two 2004-built, 6,080 TEU Post-Panamax containerships for an aggregate purchase price of $24.5 million and with charters in place to a leading liner operator for minimum 52 months to  maximum 60 months.The vessels, which have bows optimized for fuel efficiency at lower operating speeds, are scheduled for delivery by the end of this year.The vessels are expected to generate aggregate Adjusted EBITDA of approximately $21 million over the term of the contracted charters, assuming the median expiry dates.

25 Nov 2019

Euroseas Acquires More Vessels

Pic courtesy: Euroseas Ltd.

Euroseas, a Greece shipping company that was founded about a century ago, said that it has took delivery of four container carrier vessels of intermediate size of 4,253 teu from Synergy Holdings Limited for approximately $40 million.All vessels are built in South Korea, three in 2009 and the other in 2008, the company said.The acquisition of the four vessels was financed by bank debt of $32 million, existing funds of Euroseas and a private placement of $6 million at a share price…

21 Nov 2019

Performance Shipping Buys a Tanker

Image: Performance Shipping

Greece-based global provider of shipping transportation services through its ownership of vessels has agreed to acquire a 2007-built aframax tanker for US$26.0 million.The company specializing in the ownership of containerships and tanker vessels said that it will acquire the entity from its Chairman and Chief Executive Officer, Symeon Palios, for an aggregate purchase price of US$11.0 million, which will be paid in common shares of the company at a per share price of US$0.9027.

20 Nov 2019

FSL Trust Sheds Two Product Tankers

FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust  has announced that wholly-owned subsidiaries of the Trust have executed Memorandum of Agreements to sell LR2 product tankers, FSL Piraeus and FSL Perth (‚ÄúDisposal‚ÄĚ), to an unaffiliated third party and has received an initial 10% deposit in escrow.Roger Woods, Chief Executive Officer of FSLTM, said, ‚ÄúThe disposal of the two Product Tankers is part of our ongoing effort to refresh our fleet. Completion of the disposal is scheduled to take place before the end of January 2020, at which time, the net proceeds will be utilized forpartial repayment of the Trust‚Äôs outstanding bank debt.

20 Nov 2019

Fairway Dredging Project Remains on Track

Image: © WSV

Port of Hamburg is continuing its dredging projects on the Elbe River as per plan. The second hopper dredger named Bonny River has been conducting dredging operations on the federal stretch and taking the spoil to the UWA - underwater dredged material disposal site at Medemrinne, from October.Built in 2018, the ‚ÄėBonny River‚Äô has a hold capacity of over 16,000 cubic meters; consequently having a highly efficient performance level.The holding area near Brunsbüttel and the widening work on the WSV - federal waterways and shipping stretch are finished.

18 Nov 2019

Euroseas Acquires Four Containerships

Image: Euroseas

Greece-based provider of seaborne transportation for containerized cargoes Euroseas  announced that it has entered into agreements to acquire four 4,253 teu containerships built in South Korea, three in 2009 and one in 2008.The owner and operator of container carrier vessels said in a press release that the vessels are being acquired from companies controlled by Synergy Holdings Limited for a total consideration of approximately $40 million.The acquisition will be financed by bank debt‚Ķ

14 Nov 2019

Seaspan Buys Fleet of 6 Containerships

Image: Seaspan Corporation

Hong Kong-headquartered Seaspan Corporation, a major player in independent containership management and ownership, has agreed to acquire a fleet of six containerships for $380 million in cash.The independent containership lessor said that the purchase of the acquired vessels is expected to be financed from additional borrowings as well as cash on hand.The closing of the acquisition is expected to occur in December 2019, and is subject to customary closing conditions. Upon closing…

14 Nov 2019

Yang Ming Sees Weaker Demand

File Image: Yang Ming Marine Transport Corporation

Taiwanese ocean shipping company Yang Ming Marine Transport Corporation takes a hit with a net loss of about USD 42 million for the third quarter and sees signs of "weaker demand" in the container market.Yang Ming said that according to analyst firm Alphaliner’s latest projections, annual capacity growth is forecast at 3.7% and global throughput growth for 2019 is estimated at only 2.5%, which suggests a softer market demand than was previously expected.Meanwhile, the container shipping market remains vulnerable to trade uncertainties and geopolitical tensions.

08 Nov 2019

S&P Upgrades GSL Ratings

Pic: Global Ship Lease

Global Ship Lease (GSL), a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships, said that  S&P Global Ratings has raised its long-term issuer credit rating.According to the London-headquartered company, its  first priority senior secured notes to B+ from B on the basis of new charters at favorable rates, extended debt maturities, rebalancing supply and demand conditions, and an improved leverage profile.Ian Webber, Chief Executive Officer of Global Ship Lease‚Ķ

01 Nov 2019

Polymer Pioneer Receives Engineering's Highest Accolade

George A. (Sandy) Thomson (Photo: Thordon Bearings)

On October 31st, 2019, George A. (Sandy) Thomson, the founder of Thordon Bearings and a pioneer in the development of advanced polymer materials, was presented with the 2019 Elmer A. Sperry Award in recognition of ‚Äúleading the innovation in water-lubricated propeller shaft bearings‚ÄĚ in marine transportation through the use of polymeric compounds.The award was presented to Mr. Thomson at the SNAME Maritime Convention, in Tacoma, USA, by the Chairman of the Board of the Institute of Marine Engineering, Science and Technology (IMarEST), Mr.

29 Oct 2019

Boom in Container Shipping: VesselsValue

Graph by VesselsValue

The Containership market has been showing some significant gains across both earnings and values, particularly in the Post Panamax and New Panamax segments, says VesselsValue.The US China trade war has had a negative impact on vessel demand. In terms of values, it’s been very much a split market, with larger container vessels significantly outperforming the smaller types.The best demand and supply fundamentals in the Containership market are found at Post Panamax and above sizes.The Panamax sector is somewhat of a mixed bag.

28 Oct 2019

Hamburg, India Sea Trade Up by 17%

Photo: © HHM / Dietmar Hasenpusch

In the 2019 first half, 106,000 TEU - 20-ft standard containers - were handled in Hamburg on direct services with Indian ports, a gain of 17 percent. This brought India up into tenth place in Hamburg‚Äôs ranking of its trading partners for container transport.With Hapag Lloyd and its partner shipowners ONE, YML and COSCO offering an additional weekly sailing from Hamburg on the IEX - South-East India‚ÄďEurope Express service from November onwards, the prospects for further growth are good.Ten liner services link the Port of Hamburg with India.

24 Oct 2019

Optimarin Inks 30 BWTS Deal with Asiatic Lloyd

Logo: Optimarin

Optimarin, the ballast water treatment (BWT) specialist, has reported a year-on-year increase in sales of more than 100% for Q3, with order intake at an all-time high. The growth, consolidating the trend seen in Q2, comes on the back of a number of new fleet agreements with leading owners and operators, of which Singapore’s Asiatic Lloyd Shipmanagement LLP is the latest signing. “September’s IMO D2 deadline for BWT compliance has created, quite rightly, a sense of urgency in the market…

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