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Jaccar Holdings News

30 Dec 2022

Seapeak Completes Evergas Acquisition

Canadian headquartered shipowner Seapeak on Thursday announced it has completed its previously announced acquisition of Danish shipping company Evergas from France-based Jaccar Holdings.Evergas, previously comprising Greenship Gas Trust and Greenship Gas Manager, is one of the world’s leading seaborne transporters of petrochemical gases and natural gas liquids (NGL).The cash deal, worth approximately $700 million, was announced in October and will see Evergas rebrand and operate as a wholly-owned subsidiary of Seapeak. Through the acquisition, Seapeak will add two very large ethane carriers (VLEC) and eight multigas/liquefied natural gas (LNG) carriers to its fleet.Seapeak…

27 Jan 2017

Eletson, Evergas Form Shipping Alliance

Eletson Gas and Evergas announced an alliance of the two companies that will trade the companies’ semi-ref/ethylene capable vessels. The new venture, to be called the E3 Pool, will commence trading on the 30th of January from the Eletson offices in Piraeus and London and the Evergas offices in Copenhagen and Singapore. The new commercial venture will control the 15-strong fleet of modern gas carriers that are currently trading. It will be joined by a further four vessels to be delivered to Eletson over the next twelve months and will create a single point of contact for cargo owners. A larger fleet will provide more flexibility and more options for Charterers…

23 May 2016

Alfa Laval PureNOx Prime Ordered for Five VLECs

PureNOx Prime (Image: Alfa Laval)

Alfa Laval’s new PureNOx Prime solution for water treatment in Exhaust Gas Recirculation (EGR), will be part of EGR systems on five very large ethane carriers (VLECs) to be operated by United Ethane Carriers (UEC). This order from MAN Diesel & Turbo comes only a short time after PureNOx Prime was introduced to the market. UEC, a joint venture between Jaccar Holdings and Hartmann Group for the commercial management of ethane carriers, will be the operator of five VLECs to be built for ship owner JHW Engineering & Contracting.

17 May 2016

Bourbon Puts Gas Plans on Hold

Photo: Bourbon

Bourbon’s plan to diversify into the gas carrier market has run into financial obstacles. The company said in a statement that its board of directors acknowledged that the financing required for the acquisition of Jaccar Holdings’ gas activities would not be obtained within the originally stated timeframe. Consequently, the board has removed the resolution from the agenda of the annual shareholders meeting scheduled for May 26. “The diversification of Bourbon in this new activity remains a strategic objective for the company,” it said in a statement.

29 Mar 2016

BOURBON Invests Heavily in Gas Sector

(Photo Courtesy BOURBON)

While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the acquisition of the activities of a global leader in ethane transportation, with a market share greater than 50% in a market expected to have strong growth. - 100% of Greenship Gas Manager Pte. - 80% of JHW Engineering & Contracting limited.

16 Feb 2016

ME-GI Engines for World’s Largest Ethane Carriers

Eco Star 85K Very Large Ethane Carrier with its overall length of 231.60 m; maximum breadth of 36.60 m; maximum deadweight of 50,000 mt; and scantling draught of 12.30 m (Image: Hartmann)

JHW has ordered five 85,000 m3 Very Large Ethane Carriers (VLECs) for a JACCAR/Hartmann Reederei joint venture, called UEC (United Ethane Carriers); each vessel will be powered by a single MAN B&W 6G60ME-GI main engine. Dalian Shipbuilding Industry Offshore Co. Ltd. (DSIC) will construct the vessels in China, while Hyundai Heavy Industries (HHI) will build the engines in Korea. Delivery of the first carrier is scheduled for the middle of 2017. Captain Ulrich Adami, Fleet Manager of Hartmann Schiffahrts GmbH & Co.

15 Sep 2015

First Ethane-powered Ships Classed by Bureau Veritas

Photo: Bureau Veritas

The first ethane-powered ship, JS Ineos Insight, the leading ship in a series of eight 27,500-cubic-meter multi-gas Dragon-class vessels being built at Sinopacific, China, for Denmark’s Evergas, was named on July 14. The new vessels configured for transport of ethane, LPG or LNG, with options for ethane, LNG and conventional diesel power, will be classed by classification society Bureau Veritas. “The ability to burn ethane as well as LNG to power these unique vessels is a major step forward in the use of clean fuels.

14 Sep 2015

Global Maritime take Center Stage @ Danish Forum

The second Annual Danish Maritime Forum, scheduled for October 7-8, 2015, in Copenhagen, brings together a wealth of global maritime leaders to address present and long-term challenges for industry. Discussions at this year’s Danish Maritime Forum are influenced by volatility in global markets and uncertainties about future growth and will focus on how the maritime industry can address these challenges in both the short and long term. Other topical issues will include the New Chinese Silk Road, the global energy outlook and the future of ocean governance.

14 Jul 2015

Evergas Acquires first Multigas LNG vessels

Evergas’ latest additions to its fleet, two ‘dragon class’ 27.500 cbm multigas LNG carriers, were successfully named today at a ceremony at the Sinopacific Offshore & Engineering (SOE) shipyard in Qidong, China. The state-of-the-art carriers were named JS INEOS INSIGHT and JS INEOS INGENUITY. Both vessels bear a distinct dragon symbolizing their Chinese and Western heritage. vessel JS INEOS INSIGHT is the King of Fire, reflecting a strong, vigorous and steadfast future ahead. For our 2nd vessel JS INEOS INGENUITY the dragon chosen to sail and protect is the King of Water, reflecting strong fortunes for the future ahead. The vessels are the largest, most flexible and advanced multigas carriers built to date.

10 Jul 2015

Jaccar Inks Gas Carrier Financing Deal with ICBC leasing

JACCAR Holdings informed that  Mr. Li Keqiang – Prime Minister of the People’s Republic of China - during his recent state visit to France signed Memorandam of Understanding  with Mr. Manuel Valls, Prime Minister of France , for a 900 M$ financing of gas carriers with ICBC leasing. Jacques de Chateauvieux, as Chairman and CEO of Cana Tera and JACCAR Holdings declared “we are extremely honored to benefit from the trust of ICBC Leasing for the second time following the BOURBON sale and bare boat charter for 10 years of 46 offshore vessels completed last year. This will strengthen our ability to engineer and contract innovative vessels in China whilst benefitting from local financing as well”.

18 Apr 2015

New CEO for Evergas

Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk. He brings a wealth of leadership experience in both commercial and technical management, having amongst other positions headed Maersk Tankers fleet management for 9 years. Before that he held both operational and commercial leadership positions in Maersk Tankers, Maersk Contractors and Maersk Drilling. The Chairman of Jaccar Holdings Mr. Jacques de Chateauvieux says "I wish to thank Martin Ackermann for his leadership of Evergas through periods of financial and operational challenges as well as a period of rapid growth. He has led the company with success through this sea of changes. Martin has decided to move on and the timing is right for Evergas to have a change in leadership.

17 Feb 2015

Yangzijiang Diversifies into LNG Vessel Buildiing

Yangzijiang Shipbuilding (Holdings) Limited “Yangzijiang” or “the Group”  one of PRC’s leading and most enterprising shipbuilder listed on the SGX Main Board, is pleased to announce that the Group has secured new shipbuilding orders from JHW Engineering & Contracting Limited, a subsidiary of JACCAR Holdings, the company that owns EVERGAS, a world leader in ethylene and ethane gas transportation, to build two 27,500CBM LNG (Liquefied Natural Gas) carriers. With downpayments duly received, the two LNG vessels worth US$135 million are now effective orders and included in Group’s order book. The orders are schedulded to be delivered in 2017. Commenting on the new LNG order, Mr.

11 Nov 2014

Design (R)Evolutions

ReVolt The unmanned, battery powered vessel ReVolt is envisioned by DNV GL to revolutionize short-sea shipping.  (Image: DNV GL)

While the maritime industry is widely labeled ‘conservative’ in its adoption of new technologies to make operations more efficient and cost effective, recent years have seen a decided uptick in the level and sophistication of design, external and internal, across the maritime spectrum. Following are some recent revelations that could work their ways onto a waterway close to you in the near future. While investment in short-sea shipping generates plenty of debate and little action…

02 Oct 2014

Jaccar Holdings & Hartmann form JV

Jaccar Holdings of Luxemburg and Hartmann Group of Leer, Germany, announce the establishment of a joint venture for the commercial management of ethane carriers. The new company, “United Ethane Carriers” or UEC, will be based in Singapore. Its purpose is to develop the ethane business, focusing on marketing, branding and commercial management of ethane carriers internationally. “We’ve known each other for a long time now, meaning that we also know and appreciate the other one’s strengths”, says acques de Chateauvieux, CEO of Jaccar Holdings. “We found that our strengths complement each other very well, particularly in this highly specialized market. UEC provides expertise for our customers’ benefit”, adds Alfred Hartmann, Chairman of the Supervisory Board of Hartmann AG.

12 Sep 2014

Breakthrough for Very Large Ethane Carriers

ECO Star 85k Very Large Ethane Carrier (Image: DNV GL)

Hartmann Schiffahrts Gmbh & Co. KG, Jaccar Holdings, HB Hunte Engineering and DNV GL, signed a letter of intent for the classification of five ECO STAR 85k very large ethane carriers. Jean Labescat from Jaccar Holdings, Ulrich Adami, Technical Director of Hartmann Schiffahrts GmbH & Co. KG, Frerk Brand, Managing Director of HB Hunte Engineering, and Torsten Schramm, DNV GL Maritime’s COO for Division Germany, Middle East & Asia, signed the agreement at the SMM trade fair. “It’s…

03 Sep 2014

Bourbon Posts Weak First Half Results

PSV Bourbon Explorer 501 (Photo courtesy of Bourbon)

Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues, remained at a stable level of 34.4% following good cost control over the period, while adjusted EBIT decreased more than 50% largely due to €41.8 million increase in bareboat charter costs year on year, not fully offset by capital gains.

19 May 2014

Jaccar to Launch Bourbon Buyout on May 20

Jaccar Holdings, the main shareholder of Bourbon, said on Monday it will launch an offer to buy the French ship supplier on May 20. Bourbon said in March that the offer, which is valid until June 23, would be conditional upon Jaccar securing 50.1 percent of the capital, as well as bank financing. It said at that time that the proposed bid was 24 euros per share. Bourbon shares closed at 23.83 euros on Friday. Jaccar currently owns 26 percent of the group, according to Bourbon's website.   Reporting by Maya Nikolaeva and Gilles Guillaume

17 Mar 2014

Jaccar Proposes Bid for Bourbon Shares

Bourbon has been informed of a proposed bid for its shares at a price of 24 euros per share, announced March 16, 2014 by its main shareholder, Jaccar Holdings. This offer is conditional upon obtaining 50.1% of the capital and bank financing. The offer would allow Jaccar Holdings to strengthen its position in Bourbon’s share capital and provide liquidity to shareholders. Jaccar Holdings has indicated that they do not intend to implement a squeeze-out following the completion of this offer. The proposed offer will be filed with the financial market authorities and the terms of the Offer will be subject to the discretion of the AMF. The…

23 Apr 2012

JACCAR Holdings Sells Shares of Chinese Shipyard

JACCAR Holdings has helped to build Sinopacific Offshore and Engineering (SOE) into one of China’s leading providers of LPG/LEG vessels, offshore cranes, and offshore production, through its 25% share in the company. JACCAR Holdings has  sold its shares to Pearlfine Ocean Worldwide, who joins Evergreen Holding Group and Sinopacific Shipbuilding Group in the new shareholding structure. Since 2009 JACCAR Holdings has ordered six LPG Tiger 5000cbm, (first vessel to be delivered at the end of May 2012) and 8 LEG Tiger 12 000cbm (delivery as from 2013) from SOE. This investment, coupled with close cooperation between SOE and JACCAR Holdings have positioned SOE as a strong, innovative and unique player in the LPG/LEG field worldwide.

28 Mar 2012

JACCAR Holdings Enters Into Gas and Dry Bulk Ownership

Greenship Holdings, a fully-owned Singapore subsidiary of JACCAR Holdings, has established two separate entities to expand into ship-owning and operating activities in the gas and dry bulk sectors. Greenship Holdings is aiming to own and operate advanced, fuel-efficient and environmentally-friendly vessels. Its original commitment, totaling 30 vessels in the gas and dry bulk sectors, with a total investment of around $900 million, has a secured financing structure and will go into operation in full within the next two years. Greenship Gas, a company fully owned by Greenship Holdings, has been established with the two-fold strategy of combining effective asset management with unparalleled in-house operations.

19 Jan 2012

Hamworthy Secures Ethylene Carrier Job

Hamworthy Oil & Gas Systems has continued the major advance in China’s broadening gas carrier construction sector by securing more contracts for delivery of complete cargo handling systems to two liquid ethylene gas (LEG) carriers to be built at Sinopacific Offshore & Engineering Co. Ltd (SOE) in Nantong. The 12,000m3 capacity, 139m long semi-pressurised and refrigerated LEG carriers, will be incorporated in the ongoing project for the construction of six ships ordered by Luxembourg-based Jaccar Holdings/Eitzen Ethylene Carriers.

06 Aug 2010

Seaspan Financial Results, Three and Six Months

Seaspan Corporation (NYSE:SSW) announced the financial results for the three and six months ended June 30, 2010. Gerry Wang, Chief Executive Officer of Seaspan, stated, "During the second quarter, Seaspan achieved high utilization for its modern fleet and posted strong operating results while further expanding its contracted revenue streams. We took delivery of six newbuildings, four of which were delivered ahead of schedule, highlighting increased demand during the quarter. All six vessels commenced long-term time charters with top liner companies as planned. In addition, we capitalized on an attractive market opportunity by acquiring a 4250 TEU newbuilding, our first acquisition since late 2007.

04 Jun 2010

Seaspan Newbuild & Time Charter

Seaspan Corporation (NYSE:SSW) announced that it purchased and accepted delivery of one 4250 TEU newbuilding vessel for approximately $43m constructed by Zhejiang Shipbuilding Co., Ltd. of China. The company also announced that it is finalizing the terms of a time charter for the vessel with United Arab Shipping Company (UASC), a liner company jointly owned by six Arab states. Seaspan expects the time charter to be for a two-year period commencing between July 1, 2010 and July 15, 2010 at a rate in excess of $20,000 per day. Seaspan funded the purchase of the vessel with existing credit facilities and with equity raised from the sale of $26m of Series B non-convertible perpetual preferred shares issued to Jaccar Holdings Limited, an investor related to Zhejiang Shipbuilding Co., Ltd.