Marine Link
Friday, March 23, 2018

Irinvestship Limited News

Volgograd Delivers Cargo Vessel

The Volgograd shipyard recently delivered the dry cargo vessel, Iran Amirabad, to Irinvestship Limited. The contract for the building of a series of the four dry cargo vessels was singed in August 2005. The first vessel Iran Anzali was delivered to the customer in February 2007, the second vessel, Iran Nowshahr – in June 2007, the forth vessel was laid in December 2006. The ships will transport general, solid-bulk, timber and logs, big and hazardous cargo, containers. They can be used in the Caspian Sea, Mediterranean Sea, Black Sea, White Sea, North Sea. The length of the vessel is 459 ft., deadweight in sea/river – 6750/4343 tons, carrying capacity in sea/river – 6325/4100 tons. The project of the ship was developed by the Maritime Engineering Bureau (Odessa).

Trade Wars Clearly Bad for Global Shipping - BIMCO

© sergeevspb / Adobe Stock

On March 1, 2018, President Trump pushed through a metals tariff plan that puts 25 percent tariff on imports of steel and a 10 percent tariff on imports of aluminium. They are set to enter into force on March 23, 2018. The Trump administration seems positive towards protectionism and that picture became clear when the pro-trade U.S. President Donald Trump’s chief economic adviser Gary Cohn resigned on March 6 because of the tariffs imposed on steel and aluminium. Although the tariffs on steel and aluminium are expected to have a limited impact on most international bulk trades…

Ship Finance International Acquires 15 Vintage Vessels

Image: Ship Finance International

Ship Finance International Limited announced that it has agreed to acquire a fleet of 15 feeder size container vessels, ranging from 1,100 TEU to 4,400 TEU, in combination with long term bareboat charters to a leading container line. The purchase price is confidential, but close to recycling value of the vessels. The charter term will be seven years from delivery, with subsequent purchase obligations by the charterer. Delivery of the vessels is expected in April and their aggregate EBITDA contribution is estimated to be approximately $20 million per year.

Another Maersk Containership Catches Fire

File photo: Maersk Line

U.S. flagged containership Maersk Kensington reported a fire in a cargo hold while en route from Salalah, Oman toward Suez. The fire is the second reported aboard a Maersk vessel this month. The fire has been contained and all 26 crew members are reported safe and accounted for, according to A.P. Moller-Maersk. The vessel is carrying 3,518 containers (corresponding to 5,616 TEU) and is currently at anchor outside the port of Salalah where it is receiving assistance from shore. The 6,188 TEU Maersk Kensington is owned and operated by Maersk’s U.S. subsidiary Maersk Line, Limited (MLL).

Importers Buy U.S. Corn at Record Pace

Dry bulk barges underway on U.S. waterways (Credit: AWO)

Importers are buying U.S. corn at the fastest pace since the mid-1990s, according to U.S. government data, as tightening stocks in Latin America prompt a rush to purchase cargoes of the grain from animal feeders worldwide. A deepening drought in Argentina and limited corn supplies in Brazil, two of the three largest exporters, have opened a window of opportunity for top supplier the United States, which has the largest available surplus for export. The shopping spree comes as a rare bit of good news for U.S.

Indonesia Delays New Rules to Limit Coal, Palm Oil Shipments

© Stephane Rochon / Adobe Stock

Indonesia has postponed indefinitely the application of new rules that would limit shipments of coal and palm oil exports to only national shipping companies, a Coordinating Economic Ministry official said on Tuesday. The rule will only be applied once vessel requirements have been calculated and satisfied by the trade ministry, shipping industry and coal and palm oil exporters, Elen Setiadi, acting chief of trade and industry at the Coordinating Economic Ministry, told Reuters by phone.

MISC Berhad Names FSO Benchamas 2

FSO Benchamas 2 (Photo: MISC Berhad)

MISC Berhad held the naming and delivery ceremony of its new Floating, Storage & Offloading (FSO) facility for Chevron Offshore (Thailand) Limited (COTL), the FSO Benchamas 2. The project marks MISC’s maiden foray into Thailand’s offshore oil and gas sector as well as its first partnership with COTL in the offshore space. The contract for the lease and operations FSO was secured through an international competitive bidding process and was signed between MISC Offshore Floating Terminals (L) Limited (MOFT) and COTL in August 2016.

Overturned Cargo Ship in Tow in the English Channel

(Photo: Marine Nationale)

The hull of an overturned cargo ship that collided with a fishing vessel is being towed out of the way of shipping lanes in the English Channel. The Maltese flagged cargo ship Britannica Hav capsized after it was involved in a collision Tuesday with Belgian flagged fishing vessel Deborah about 50 nautical miles northeast of Cherbourg, France. The freighter’s seven crew members evacuated the ship aboard two life rafts and were recovered by Deborah. The only reported injury was to the fishing vessel’s captain, who suffered a non-severe head injury and did not wish to be evacuated.

Israeli Navy Kills Palestinian after Boat Breaches Sailing Limit

© Rafael Ben-Ari / Adobe Stock

A Palestinian from the Gaza Strip died on Sunday after the Israeli navy fired on the boat he and two others were sailing in, a military spokeswoman said. The navy opened fire after the boat ignored warnings and strayed from a permitted fishing area in the northern Gaza Strip towards Israel, the spokeswoman said. One of the men in the boat was seriously wounded and later died. But the Gaza fishermen’s union said the boat was targeted as it was making its way back to Gaza, and Nizar Ayyash…

Limited Brands Honors MOL

Limited Logistic Services, the transportation arm of specialty retailer, Limited Brands, has presented MOL its ocean carrier 2006 Distinguished Service Provider award. Limited Brands made the announcement on January 29, 2007. Limited Brands, the internationally recognized parent company of Victoria’s Secret, Express, Bath & Body Works, and Limited Stores, owns and operates more than 4,000 stores in the United States. The Distinguished Service Provider award is presented annually to the ocean carrier whose supply chain innovations best support the achievement of Limited Brands’ goals.

Alfa Laval BlueBox SA prevents oily water discharge problems

Alfa Laval BlueBox SA  Photo courtesy Esbjörn Ljunggren; Alfa Laval

Non-compliant discharge of oily water continues to be an environmental threat – and an expensive headache for the marine industry. With the tamper-proof Alfa Laval BlueBox SA, a standalone oil content monitor and data recorder, Alfa Laval is providing peace of mind to ship owners and operators. Despite many years of strict enforcement when it comes to oily water discharge limits, there are still high-profile cases that result in extreme fines or jail terms. Naturally, no company can afford to take risks when the consequences are of such magnitude.

WQIS Prepared for COFR Limit Increase

On July 11, 2006 the President signed into law Title VI of the Coast Guard and Maritime Transportation Act of 2006, which increased the limits of liability for vessels under OPA 90. It also split the tank vessel category into single and double hulls with single hulls having higher limits. Those limits went into effect in 2006. However, the requirement for evidence of financial responsibility required to obtain a Certificate of Financial Responsibility (COFR) was not increased at that point. Meaning, existing COFRs remained valid. By a notice in the Federal Register/Vol. 73, No.181/Wednesday, September 17, 2008 the Coast Guard promulgated regulations implementing the new COFR regulations to take effect from January 15, 2009. As of that date, the financial guaranty or insurance to the U.S.

Bharat Mumbai Container Terminals Enhances Connectivity

Twinlift loading operations at BMCT’s railyard. Photo: PSA International

Bharat Mumbai Container Terminals Private Limited (BMCT) continued to improve connectivity and ease of doing business for JNPT (Jawaharlal Nehru Port Trust) users with its first barge and train volumes last week. A 90-TEU (twenty-foot equivalent unit) block train departed for Mandideep on 13 March 2018, while a second train left for Nagpur on 16 March. Both trains were operated by Container Corporation of India (Concor). On 18 March, there were both barge and rail movements as Shahi Shipping’s “Royal Hugli” barge loaded 75 TEUs at BMCT for the short marine transit to Mumbai Port Trust…

Coast Guard Announces Interim Rule

The U.S. Coast Guard has published an interim rule that adjusts limits of liability for vessels and deepwater ports under the Oil Pollution Act of 1990. The interim rule, effective July 31, 2009, increases the current OPA 90 limits of liability for vessels and deepwater ports to reflect significant increases in the Consumer Price Index since the limits were amended by the Delaware River Protection Act of 2006. The rule also increases the current OPA 90 limit of liability for the Louisiana Offshore Oil Port to reflect Consumer Price Index increases since the Louisiana Offshore Oil Port limit was established by regulation in 1995.  

Maritime Claims – Limits Increased by IMO

Amendments to increase the limits of liability in the 1996 Protocol to the Convention on Limitation of Liability for Maritime Claims were adopted by the Legal Committee of the International Maritime Organization (IMO), when the Committee met for its 99th session in London. The LLMC Convention sets specified limits of liability for two types of claims against shipowners - claims for loss of life or personal injury, and property claims (such as damage to other ships, property or harbour works). Taking into account the experience of incidents, as well as inflation rates, the limits set in the 1996 Protocol have, in recent years, been seen to be inadequate to cover the costs of claims, especially those arising from incidents involving bunker fuel spills.

Polynesian Shipping Sold to Neptune Pacific Line

Neptune Pacific Line buys Polynesian Shipping

The Board of Polynesian Shipping Line Limited, Apia informed   that the business and the Company’s associated investments have been sold to Neptune Pacific Line Limited. The sale is as a going concern and will continue to provide services in the Australian and New Zealand trades to Fiji, the Samoas and the Kingdom of Tonga as well as the interisland trade. In addition, the existing global freight services to the Samoas and Tonga will continue and be developed further. It is informed…

BAE Systems, SENER Close $3.8M Deal

Acting on behalf of the Aircraft Carrier Alliance (ACA), UK-based BAE Systems Marine Limited, has closed a contract with the Spanish company Sener Ingeniería y Sistemas S.A., for the license to use the FORAN System in the development of the Stage 1 (System Design) of the CVF Project (UK Royal Navy Future Aircraft Carrier). The contract involves around 100 FORAN seats and a specified set of support services. Activities have started immediately and FORAN has already been installed at the Glasgow, Barrow-in-Furness and Portsmouth sites. Services to be provided by SENER include training, customization, on-site and remote technical assistance, as well as the development of interfaces between FORAN and existing Business Systems.

Water Levels Low on Lake St-Louis

Location Map

  Mariners are advised that due to low precipitation, and declining outflows, the water levels on Lake St-Louis are lower than normal. For this reason, the speed limit between buoys A30 and A40 is reduced as follows:  Vessels with a draft greater than 70 dm are limited to 11 knots upbound and 13 knots downbound. For vessels with a draft of 70 dm or less, the speed limit remains limited to 12 knots upbound and 14 knots downbound respectively. The authorities will continue to monitor the water levels and advise you of any other changes.  

NYK Charters 2 LNG Carriers for Freeport LNG Project

Two joint-venture companies that NYK has established with Chubu Electric Power Co. Inc. each concluded a time-charter contract for a new liquefied natural gas (LNG) carrier with Chubu Electric Power Co. Inc. In addition, one of the joint-venture companies, Trans Pacific Shipping 6 Limited, concluded a shipbuilding contract with MI LNG Company Limited,* and other joint-venture company, Trans Pacific Shipping 7 Limited, concluded a shipbuilding contract with Kawasaki Heavy Industries Ltd. These new ships will be managed by NYK after being delivered in 2018 and assigned to transport LNG for a 20-year period from the Freeport LNG Project, in which Chubu Electric Power Co. Inc. has an equity interest.

Increased Limits of Liability for Shipowners in UK

Image: The Standard Club

The Standard Club had reported that in 2012 the  International Maritime Organization (IMO)  decided to increase the limits of liability under the 1996 Protocol by 51% and that these increases are due to come into force on 8 June 2015. This was because in recent years the existing limits have been considered inadequate to cover the rising cost of claims especially in relation to pollution and clean-up costs (e.g. the Pacific Adventurer bunker spill incident off the coast of Australia in 2009).

Tilbrook Joins Woodside Board

Gene Tilbrook

4 December 2014. Mr Tilbrook joins Woodside as an independent director. Mr Tilbrook has broad experience in corporate strategy, investment and finance. Finance and Executive Director Business Development. the Bell Shakespeare Company. Australian Institute of Company Directors and a councillor of Curtin University.

Canada's TSB Reports on 'Bosun's Fatal Fall

Crane rendering: Image courtesy of Canada TSB

On 08 May 2013, at 1455 Eastern Daylight Time, the dry bulk carrrier 'Federal Yoshino' was at anchor in Baie‑Comeau, Quebec when the crew member fell to the deck in a crane-hoisted provisioning basket from a height of about 5m when the hoisting cable parted, informs the Transportation Safety Board of Canada (TSB) in a recently released investigation report. The bulker was at anchor awaiting the arrival of a grain cargo when the accident occurred, and the crew was employed in general ship maintenance.

New Speed Limit to Save Whales?

Federal officials are considering speed limits for large ships that could reduce collisions with whales, according to a report in the Baltimore Sun. The National Oceanic and Atmospheric Administration held a hearing on the proposals last Thursday in Baltimore. While conservationists applauded the limits, officials in the shipping industry say the limits could be bad for business. Under the proposals, ships longer than 65 ft. would be limited to 10- to -14 knots at the mouth of the Chesapeake Bay and outside several major Atlantic ports. A decision on the speed limit is expected by spring. (Source: Baltimore Sun)

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