Marine Link
Friday, January 19, 2018

Equipment Chartering News

Coast Guard Responds to Tug Fire

The Coast Guard is investigating a tug fire that occurred yesterday south of Demopolis, Ala. on the Tombigbee Waterway. The Alabama Marine Police notified the coast guard Monday morning when the tug, Nonnie, pushing six empty hopper barges had caught on fire and was drifting south on the Tombigbee Waterway. The Coast Guard Cutter, Wedge, from Demopolis, an HU-25 Falcon jet from Aviation Training Center Mobile, and pollution response and investigation teams from Marine Safety Office Mobile were immediately dispatched to the scene. The vessel, owned and operated by Equipment Chartering Company inc. in bay St. Louis, Miss., was en route with the barges to a quarry on the Tennessee River from Back Bay Biloxi, Miss.

Smith Brothers Chrtisten New Tug

Capt. Kenneth

Smith Brothers, Inc., Chesapeake Bay-based barge and marine equipment charter company, recently added the tug Capt. Kenneth to its fleet of inland and truckable tugs. With the 99-year-old namesake looking on alongside his son, Jeffrey Smith, company president, Eleanor Smith christened the vessel after her grandfather, Kenneth. "This boat reflects the hard work and commitment of the Smith Brothers team," said Jeffrey Smith. The Capt. Kenneth  is 50' x 19' x 7.5" with an operating draft of 6'. The shallow draft enables the boat to move barges anywhere in the Chesapeake and its tributaries.

Diana Shipping Enters into TC Contract with Uniper

Photo: Diana Shipping Inc.

Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$12,700 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter commenced on January 13, 2018. The m/v Phaidra was previously chartered to Jera Trading Singapore Pte. Ltd.

Global Ship Lease Extends TC with CMA CGM

Photo: CMA CGM

Global Ship Lease, a containership charter owner, announced that it has agreed to an extension of its charter with CMA CGM for the GSL Tianjin, a 2005-built, 8,063 TEU containership. The vessel will be chartered for a period of eight to twelve months (at the charterer's option) at a fixed rate of $11,900 per day, commencing in direct continuation from its current charter on January 26, 2018. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to have secured this extension with CMA CGM for the continued employment of the GSL Tianjin.

Global Ship Lease Eyes Acquisitions

Photo: Global Ship Lease

The London-based Global Ship Lease (GSL) said that it  is well-positioned as one of few publicly listed containership leasing companies to acquire attractive portfolios of ships, attract growth capital or find a complementary merger partner. The containership charter owner has engaged Evercore to act as financial advisor to assist in reviewing strategic alternatives focused on maximizing shareholder value. GSL has successfully refinanced of all of the its indebtedness in October 2017 and with a strengthening market backdrop.

Nordic American Tankers Signs TC with Cepsa

Photo: Nordic American Tankers

Nordic American Tankers has announced that it entered into an one-year term charter with the major Spanish oil company Cepsa for a ship. The company says  is the 2004 built Nordic Castor is expected to be delivered on the time charter in late February for a contract of up to 15 months. "She is expected to be delivered on the time charter late February, subject to a satisfactory inspection in next discharge port. The fact that NAT has only one million barrel suezmax ships allows us to achieve economies of scale. The agreed rate secures a good cash flow," said a company statement.

Titan - Schwall VP, Reed General Manager

Titan Salvage, Crowley Maritime Corporation's salvage and wreck removal company, announced that Dan Schwall has been promoted to vice president and Phil Reed has been promoted to general manager, salvage and engineering. Both promotions become effective January 1, 2009 and both Schwall and Reed will be domiciled at the Pompano Beach, Fla. headquarters. Schwall will report directly to Todd Busch, senior vice president and general manager of Crowley's technical services group. In…

GOGL Acquires New Vessel

File Photo: Golden Ocean Group Ltd

Norway based dry bulk shipping company Golden Ocean Group Limited (GOGL) has  taken delivery of the second vessel, Sea Monterrey (to be renamed Golden Monterrey). On October 16, 2017 GOGL announced that it has entered into agreements to acquire two modern Capesize vessels from affiliates of Hemen Holding Limited, a company indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family (Hemen), the Company's largest shareholder, at a purchase price of USD 43.0 million per vessel. The first vessel, Golden Behike, was delivered in November 2017.

Concordia Maritime Charters Two More MR Vessels

Image: Concordia Maritime

Swedish tanker owner Concordia Maritime has chartered in two more MR (ECO) vessels, while also extending the contracts for two of the currently chartered MR (ECO) vessels by a further year. A contract to charter out the P-MAX tanker Stena Performance has also been signed. The contractual partner is a large global oil company and the vessel will be used primarily for niche traffic in the Middle East. As with previous charters, these latest contracts are joint charters with Stena Bulk, and Concordia Maritime’s share amounts to 50 percent.

Four Japanese Companies Join Modec in Sepia FPSO Deal

Photo:  MODEC, Inc.

Four Japanese companies will invest in a new company established by compatriot Modec with an aim to provide a floating, production, storage and offloading (FPSO) unit for the Petrobras-operated Sepia field offshore Brazil. "MODEC, Mitsui, Mitsui O.S.K. Lines, Marubeni Corporation and Mitsui Engineering & Shipbuilding Co have agreed to jointly invest in a long-term charter business currently promoted by MODEC, for providing a FPSO in the Sepia Area, off the coast of Brazil," said a press release. These companies have entered into related agreements for the FPSO project on January 9, 2018.

Navios Maritime Containers Acquires Boxship

File Image: Navios Maritime Containers

Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it has acquired the Navios Felicitas, a 2010-built, 4,360 TEU containership for a purchase price of USD 11.45 million. The vessel was delivered to Navios Containers’ fleet in December 2017. Navios Containers financed the acquisition of the vessel with cash on its balance sheet and $6.0 million of bank debt under one of its existing credit facilities. Following this acquisition, Navios Containers controls 21 vessels, totaling 88,820 TEU.

Andreas Silcher Negotiates LNG Carrier Contracts

Andreas Silcher. Photo: Haynes and Boone

Partner Andreas Silcher in Haynes and Boone’s London office represented TMS Cardiff Gas in its contract with Hyundai Heavy Industries of Korea (HHI) for the construction of one 174,000 cubic meter LNG carrier with XDF propulsion, plus an option for a second vessel. In a press release, TMS Cardiff Gas called the order the first in the company’s X Carrier Series of orders, which expands the company’s fleet of managed vessels to 10. The vessel is scheduled for delivery in 2020, when she will enter into a seven-year time charter contract with TOTAL Gas & Power Chartering, Limited.

NOIA Member Deepwater Horizon Response

As BP, the National Response Team, and an army of volunteers respond to the Deepwater Horizon incident in the Gulf of Mexico, NOIA member companies are lending their resources in an unprecedented cooperative effort to stop the flow of oil and prevent further damage to the environment. These resources include land-based and offshore facilities, aircraft, marine vessels, remotely operated vehicles (ROVs), a containment dome, subsea tooling, subsea video, dispersant, personnel, and technical expertise on suction systems, blowout preventers, dispersant injection, well construction, containment options, subsea wells, environmental science, emergency response, spill assistance, well intervention, and drilling and well competence.

TMS Cardiff Gas Places Order at HHI

(Photo: TMS Cardiff Gas)

TMS Cardiff Gas said it signed a contract with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the construction of one 174,000 cubic meter liquefied natural gas (LNG) carrier, with an option for a second vessel.   The newbuild is scheduled for delivery in 2020, when she will enter into a seven year time charter contract with TOTAL Gas & Power Chartering, Limited.   This order is the first in the company’s X Carrier Series, which expands the TMS Cardiff Gas fleet of managed vessels to 10 (six LNG carriers and four VLGCs).

Top Ships Gets TC Extension for Four Vessels

Photo: TOP Ships

TOP Ships, an international ship-owning company, announced that it has extended the time charter agreements with Stena Bulk AB (ex Stena Weco AS) by 12 months for M/T Stenaweco Energy and M/T Stenaweco Elegance and by 18 months for M/T Stenaweco Evolution and M/T Stenaweco Excellence. The Company expects a total gross revenue backlog associated with these time charter extensions of $27.4 million.

JFMS Vessel Completes its First 2 Charters

Courtesy of James Fisher Marine Service

James Fisher Marine Service (JFMS) announces the successful completion of the SMV 24 vessel’s maiden charter and immediate subsequent charter at Round Three wind farm sites. The vessel accomplished its first charter working with offshore wind energy developer Forewind to support the Dogger Bank development, and the second charter was to RES Offshore delivering services to Hornsea wind farm. Both projects delivered support to critical metrological masts for the Round Three wind farm sites, transferring crew and equipment to carry out installation and maintenance activities.

Signet Closes $209m Financing Facility

Wells Fargo Equipment Finance, through its Energy and Marine and Capital Markets Groups, acting in the capacity of lead arranger, closed a $209 million financing facility today for Signet Maritime Corporation, a global marine transportation company based in Houston. The new facility refinances Signet’s existing bank debt and provides acquisition financing for the purchase of Harvey Gulf International Marine’s ocean towing vessel (OTV) fleet, which includes eight OTVs. Signet will also use proceeds of the financing facility to complete the construction and purchase of three newbuild escort ASD reverse tractor tugs, and the purchase of three existing bareboat chartered vessels.

Capital Product Partners Buys Aframax

Photo: Capital Product Partners L.P.

Capital Product Partners has announced that its Board of Directors has approved the acquisition of the eco-type crude tanker ‘Aristaios' (112,800 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding, S. Korea) for a total consideration of $52.5 million from the Partnership's sponsor, Capital Maritime & Trading. The M/T ‘Aristaios' is currently employed under a time charter to Tesoro Far East Maritime Company (‘Tesoro') at a gross daily rate of $26,400. The Tesoro charter commenced in January 2017 with duration of five years +/- 45 days.

USCG Seeks Comment on Rules For Uninspected Passenger Vessels

The USCG seeks comment from the public on proposed regulations to implement the Passenger Vessel Safety Act of 1993 (PVSA). The PVSA, among other provisions, established a new class of uninspected passenger vessels that are at least 100 gross tons and carry no more than 12 passengers for hire. In an Advance Notice of Proposed Rulemaking (ANPRM), the USCG asked for comments on what type of operational and equipment requirements should be proposed for these uninspected vessels. The notice seeks information on the type of safety equipment this new class of uninspected passenger vessel carries, the construction standards it currently meets, and licensing and experience requirements for vessel owners, operators and charter brokers, among other issues.

Oceanteam CSV Charter Extended to 2018 by Fugro

CSV Southern Ocean: Photo credit Oceanteam

Oceanteam Shipping ASA (OTS) confirm the extension of the bareboat charter of their 'CSV Southern Ocean' by Fugro TS Marine Australia until the end of 2018. CSV Southern Ocean is a large construction support vessel jointly owned between Bourbon Offshore Norway AS and Oceanteam Shipping ASA. The owners say that the extension of the bareboat charter will further strenghten their contract backlog and secure future earnings. The original charter was set to expire at the end of 2015. The commercial terms between the parties remain confidential.

Petronas, HHI Novation Agreement with MISC

LNG Ship Puteri Firus (Image by MISC Bhd )

Malaysia’s MISC Bhd and parent Petroliam Nasional Bhd (Petronas) have agreed to build new liquefied natural gas (LNG) carriers worth US$1.1 billion and charter them to another unit owned by the national oil and gas company for up to 20 years. MISC will also extend its charters of five refurbished LNG carriers to Petronas by another 10 years. In a filing with Bursa Malaysia today, MISC said it has signed an agreement for the novation of shipbuilding contracts with Petronas and shipbuilder Hyundai Heavy Industries (HHI) Co Ltd.

VSAT Connectivity by Globecomm for Malaysia's PBJV Group

Globecomm Maritime, a leading provider of maritime communications solutions, has been awarded a contract to provide VSAT connectivity to PBJV Group's barge Kota Laksamana 101. The barge, which accommodates up to 300 personnel, was recently chartered to Petronas, a fully integrated energy company based in Malaysia. Under the terms of the deal, PBJV is required to provide a dedicated 512kbps up and down link to Petronas staff working on board the vessel. Globecomm Asia Regional Sales Manager Kian Ong, who led the project, says the scope of Globecomm's solution exceeded PBJV's expectations, despite intense competition for the contract.

BV Launches New Rules for Yachts, Megayachts

Bureau Veritas is launching a fully updated set of classification rules for yachts and megayachts. The Rules cover design approval, material and equipment certification and construction surveillance at the yard for single yacht building or for production in large series following an alternative survey scheme. Motor and sailing yachts of mono or multi hull type, built in steel, aluminium alloys or composite materials are covered. A major addition to the new Rules is a set of standards applicable to very large charter yachts and yachts with over 12 passengers. These standards bridge the gap between international conventions applying to passenger ships and yacht industry standards.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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