Jo Tankers News

Stolt-Nielsen Limited today reported unaudited results for the fourth quarter ended November 30, 2016. Net profit attributable to shareholders in the fourth quarter was $22.8 million, with revenue of $463.0 million, compared with a net profit of $22.2 million, with revenue of $474.1 million, in the third quarter of 2016. Net profit attributable to shareholders for 2016 was $113.1 million, with revenue of $1,879.9 million, compared with a net profit of $132.7 million, and revenue of $1,983.7 million in 2015. * Stolt Tankers reported an operating profit of $30.4 million, down from $31.4 million, as the chemical tanker market remained soft. * The Stolt Tankers Joint Service Sailed-in Time-Charter Index decreased to 0.72 from 0.76.

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.

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 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.

Scanjet Group has followed up its Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning, Tank monitoring, P/V valves and the Scanjet VRC (valve related control) system. New orders have been placed through New Times Shipyard in China to deliver the SCANJET “Surveyor” Tank Management System including valves and the VRC to eight 58.000 DWT bulk carriers, under construction for Cyprus-based owner Lemissoler. Meanwhile, Chinese shipyards Nantong Mingde and New Times in China have selected the complete ITAMA (Intelligent Tank Management) package of tank monitoring…

SCANJET Group has followed up its breakthrough Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning, Tank monitoring, P/V valves and the Scanjet VRC(valve related control) system. New orders have been placed through New Times Shipyard in China to deliver the SCANJET “Surveyor” Tank Management System including valves and the VRC to eight 58.000 DWT bulk carriers, under construction for Cyprus-based owner Lemissoler. Meanwhile, Chinese shipyards Nantong Mingde and New Times in China have selected the complete ITAMA (Intelligent Tank Management) package of Tank Monitoring…

Scanjet Marine AB and Scanvent ApS are combining product ranges to create what the companies claim to be the most comprehensive in-tank equipment package available for tankers and FPSOs. Scanjet’s current product range consists of tank cleaning equipment, tank management solutions with monitoring, control and alarm system for cargo and service tanks, while Scanvent offers a range VOC efficient dual nozzle high velocity valves, ranging from barges to VLCCs and FPSOs and MSC/Circ. 1324 flame screen upgrade kits spares for most existing p/v valves. The combined product ranges cover all in-tank equipment bar cargo pumps. The two companies are already supplying numerous projects individually for the most demanding shipowners…

JO Tankers has placed an order for eight 33.000 dwt stainless-steel chemical tankers at China’s New Times Shipbuilding, with deliveries scheduled for 2016 and 2017. The deal consists of firm and optional contracts. The new buildings will join Milestone Chemical Tankers – the jointly owned chartering and marketing arm of JO Tankers and Tokyo Marine. JO Tankers say that the new-buildings will be built to the highest specification. The combination of modern design and modern engines will reduce the fuel consumption by 25% compared to other designs.

Drewry’s latest Chemical Forecaster reports an odd occurrence in the spot market. It would have been another dull quarter in terms of the spot market but for the irrational trend on the Transpacific Westbound, which was uncharacteristically busy. A decline in Chinese economic growth clearly indicates that the spurt cannot be attributed to end-user demand, so the sudden surge in the second quarter was attributable to a widening arbitrage spread between U.S. and Asian prices. The key chemicals were styrene and paraxylene. The greater tonne-mile demand on this trade had a positive effect of absorbing tonnage into this route. Freight rates on the Atlantic benefited from the absorption of vessels on the Transpacific Westbound towards the end of the quarter.

The weather might be depressing, but the outlook for the city is anything but. Bergen’s shipping industry and maritime related services sectors are going from strength to strength, bullishly rebutting the worst of the waves caused by the ongoing global financial crisis. The secret, locals argue, is a long-term industry view, the strength and diversity of the maritime cluster and the fact that Bergen blood is very much thicker than water. Maritime Reporter goes native to investigate. Rain, mountains and fjords: The three things that spring most readily to mind when the name Bergen is mentioned.

The very first MAN Diesel & Turbo TCA77 turbocharger installed aboard ‘Jo Sequoia’ nears 50,000 hours trouble-free operation. The chemical tanker 'Jo Seuoia' is powered by a MAN B&W 7S50MC-C two-stroke engine, having been built about ten years ago for Bergen-based Jo Tankers. During its construction, and with Jo Tankers already having chosen an MAN B&W 7S50MC-C engine as prime mover, MAN Diesel & Turbo approached Jo Tankers in regard to installing its then-new TCA77 turbocharger.

JO TANKERS (Bergen, Norway) has chosen Transas Marine as an ECDIS supplier for its fleet. The agreement includes upgrade of 3 vessels, retrofit on-board 11 vessels and 6 planned newbuilds. All vessels will be equipped with Dual 26’’ Navi-Sailor 4000 ECDIS Premium Multifunction Display, Radar Overlay and Firewall. Some vessels will utilize Transas’ recently launched Pay As You Sail chart solution for (S)ENC.  In addition, almost 100 seafarers will receive Transas Type-Specific ECDIS training in Manila, Philippines.

Jo Tankers, of Bergen, Norway, choose Transas Marine as an ECDIS supplier for its fleet The agreement includes upgrade of 3 vessels, retrofit on-board 11 vessels and 6 planned newbuilds. All vessels will be equipped with Dual 26'' Navi-Sailor 4000 ECDIS Premium Multifunction Display, Radar Overlay and Firewall. Some vessels will utilize Transas' recently launched Pay As You Sail chart solution for (S)ENC.  In addition, almost 100 seafarers will receive Transas Type-Specific ECDIS training in Manila, Philippines.

Jo Tanker, a Norwegian ship owner, has reached changeover and blend fuel requirements by installing JOWA Technology Diesel Switch DS MKII. The switch is type-approved by Germanisches Lloyd and leads to meeting the sulphur emissions levels in CARB and SECA areas. The DS MKII Diesel Switch has been developed by Swedish-based Jowa Technology. According to the company it provides a reliable solution for the shipping industry. Incorrectly performed changeover  will create both short-term, as well as long-term problems for crew, engine, environment and the owner.

A new contract to supply ships services to one of the world’s largest chemical transportation fleets, Jo Tankers, has strengthened Wilhelmsen Ships Service’s port coverage for the customer in the USA. Wilhelmsen Ships Service (WSS) has been contracted to provide services in the ports of Houston, Freeport and New York by Jo Tankers, which is in addition to the current port calls handled in New Orleans and Philadelphia. The additional ports will bring Wilhelmsen Ships Service nearly 100 new port calls per year for the region. Jo Tankers is a leading provider of deep-sea transportation services, not just for chemicals, but also for other high-value liquids such as petroleum products and edible oils.

According to an August 26 report from Lloyd’s List, JO Tankers, the world number three chemtanker operator, is to make around 50 Dutch officers redundant and is likely to reflag four of its vessels from the Dutch register to Singapore. (Source: Lloyd’s List)

MAN B&W Diesel, a designer of two-stroke diesel engines and producer of turbochargers, has combined the two into an engine room package. The TCA (TurboCharger Axial) is the newest turbocharger from MAN B&W Diesel. The first production turbocharger in this series is the TCA77, but additional frame sizes are also available from the TCA33 to the TCA99. This turbocharger series will replace the well known NA series and combines a higher power output with lower production and running costs. “The TCA turbocharger will set new standards in both performance and serviceability.”says Rolf Studte, head of the turbocharger division, and the statistics prove it.

Stolt-Nielsen Transportation Group Ltd. (SNTG), a wholly-owned subsidiary of Stolt-Nielsen S.A. announced a co-service agreement for operational matters for the carriage of bulk liquids from ports in the U.S. Gulf to ports in Asia. maintaining the commercial independence of SNTG and JOT. can be achieved by working together to allocate cargoes to particular ships. Both companies will continue to market their ships and services independent of each other, and the contractual relationship between individual carriers and their respective customers will remain private and confidential. The Combined Service Agreement is due to commence on February 1, 2002.

The U.S. Department of Justice issued a Press Release stating that Jo Tankers B.V. has agreed to plead guilty and pay a $19.5 million criminal fine for participating in an international cartel to allocate customers, rig bids, and fix prices on parcel tanker affreightment contracts for shipment of specialty liquids to and from the United States and elsewhere. The plea agreement and recommended sentence are subject to court approval. (HK Law)

Commenting on a lawsuit filed recently by Dow Chemical Co. against four chemical carriers including Stolt-Nielsen S.A., SNSA said that the company believes the Dow Chemical claims are without merit and that it will vigorously defend itself against those claims. The company added that the relationships between its chemical shipping unit - Stolt-Nielsen Transportation Group B.V. - and its customers are governed by contracts that contain arbitration clauses. SNSA said it will move for the courts to compel arbitration as agreed to by customers in their contracts with the company. The other three carriers named in the Dow Chemical suit are Odfjell ASA, Jo Tankers B.V. and Tokyo Marine Co, a unit of Mitsui O.S.K. Line Group.

Dow Chemical Company and its subsidiary Union Carbide Corporation have filed lawsuits in the US against Odfjell and three other major parcel chemical tanker carriers, Stolt-Nielsen, Tokyo Marine and JO Tankers in relation to violations of antitrust laws in the US, and claimed damages as a consequence thereof. The lawsuits have not yet been served on Odfjell. On September 29, Odfjell ASA's wholly owned subsidiary Odfjell Seachem AS entered into a voluntary plea agreement with the US Department of Justice. Odfjell Seachem AS agreed to plead guilty to a single-count violation of the US Sherman Antitrust Act for allocating customers and thereby fixing prices on certain contracts of affreightment from 1998 to 2002.

Changes in the international political and economic climate will add new urgency to the theme of the Shiprepair & Conversion 2001 conference in London in November — gaining the edge in a competitive global industry. Marking the 10th anniversary of the event, the conference takes place alongside the industry's leading exhibition in the Grand Hall, Olympia, on November 28-29. A new pick-and-mix booking format offers cut-price entry to one or more of the four morning and afternoon sessions — giving delegates, exhibitors and visitors more scope to take part in both the conference and trade show, which will feature a record 360 exhibitors.

ChartCo has supplied and fitted ChartManager on the 24-vessel parcel tanker fleet, owned and managed by Norwegian company, Jo Tankers. Captain Egil Hansen of Jo Tankers says, ?We chose ChartManager because we wanted to get our information updated as soon as it becomes available. It provides us with an easy way to follow up chart corrections and has standardized the method of chart updates on all our vessels, which is essential for overall vessel and fleet safety.? Jo Tankers is storing all chart updates and data on a laptop, to be printed as required, providing a useful means of audit trail. In terms of money spent per vessel, the company is finding that ChartManager is at least as cost-effective as sending chart updates by courier. ChartCo uses the Inmarsat Point to Multipoint service.