Maritime Law & Regulations News

Dubai-based global ports operator DP World has taken a 44% stake in Frenkendorf-headquartered Swissterminal Holding, the container terminal operator in Switzerland.The parties have agreed not to disclose financial details of the transaction.Swissterminal, which is headquartered in Frenkendorf close to Basel, operates additional locations in Zurich-Niederglatt, Basel-Birsfelden, Basel-Kleinhueningen and Liestal. The terminals are well connected to Europe’s leading container ports in Rotterdam and Antwerp as well as the ports of La Spezia…

The world’s largest LNG bunker vessel ‘Kairos’, operated by Nauticor, has supplied DEME’s next generation offshore installation vessel Orion, this first such ship-to-ship bunker transfer at the Port of Rostock.Orion is currently at the Liebherr construction yard in the Port of Rostock, where it is being outfitted with a 5,000-ton crane. The new offshore installation vessel is the fifth dual fuel addition to the DEME fleet, following three trailing suction hopper dredgers (Minerva…

International Maritime Organization (IMO) Secretary-General Kitack Lim is calling for renewed cooperation from all stakeholders to tackle the urgent issues of air pollution and greenhouse gas emissions from shipping at the World Economic Forum in Davos.Lim said: "When temperature records are routinely broken, icecaps are melting and some parts of the world are flooding while others are burning, there can be little doubt that addressing climate change must be humankind's major priority."  IMO's strategy is to reduce sector-wide emissions by at least 50% by 2050.

South Korea's military said on Tuesday it plans to expand the deployment of an anti-piracy unit now operating off the coast of Africa to the area around the Strait of Hormuz, after the United States pressed for help in guarding oil tankers.Attacks on oil tankers in the Strait of Hormuz off the coast of Iran last year prompted U.S. officials to call for allies to join a planned maritime security mission.While South Korea, a key U.S. ally, will deploy its forces to the area, including the Gulf…

Norwegian technology firm Kongsberg announced it will install and test autonomous ship technologies on two vessels in Europe's inland waterways and short sea coastal shipping routes.The AUTOSHIP project will aim to test and further develop key technology linked to fully autonomous navigation systems, intelligent machinery systems, self-diagnostics, prognostics and operation scheduling, as well as communication technology enabling a prominent level of cyber security and integrating the vessels into upgraded e-infrastructure…

Global Marine Travel, a Florida-based travel management company to the maritime industry, has partnered with the Greek travel firm Argo Travel Group to enhance its travel offering, particularly in terms of service delivery and driving growth in the Greek and international markets."In Argo, Global Marine Travel, gains a marine partner with an experienced team and a strong reputation for service delivery, that will drive the growth of the business in Greece and other international locations…

Northern European growth equity investor  Verdane Capital has taken a majority stake in the Denmark-based maritime hardware and software company Danelec Marine.Under the agreement, which was signed December 31, 2019, Verdane assumes a majority shareholder position in the privately held corporation. Danelec’s existing shareholders will continue to own shares in the company, and the management team, including CEO Hans Ottosen and COO Casper Jensen, will continue in their positions.Headquartered in Birkeroed…

At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed.The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.U.N. shipping agency, the International Maritime Organization (IMO), aims to reduce the industry's greenhouse gas emissions by 50% from 2008 levels by 2050…

Croatian DIV Group is set to buy Kleven Verft, a Norwegian shipbuilding company specializing in the construction of offshore and cruise vessels.DIV, which owns the Brodosplit shipyard in Split Croatia, has signed an agreement to buy the Norwegian company based in Ulsteinvik, with the deal is expected to be executed in the next few weeks, Kleven said Monday.Kjetil Bollestad, CEO at Kleven, said he was happy the company was getting "a new and solid owner of the yard.""Through a difficult period, we have managed to deliver fantastic ships, as well as exploit the high competence at the shipyard.

Chilean logistics company SAAM has struck a deal to buy Intertug Investment Holding, a towage services company with operations in Colombia, Mexico and Honduras.SAAM will spend $54.5 million for 70% of Intertug, based on an enterprise value of $98 million, and carry out the acquisition through a capital increase and a share purchase, it said in a stock market exchange announcement.Intertug's 25-vessel fleet logs more than 18,000 maneuvers a year, generating around US$44 million in towage service revenue annually.The partnership with Intertug allows us to enter Colombia…

America’s largest military shipbuilding company Huntington Ingalls Industries (HII) Ingalls Shipbuilding division has awarded $99,592 in grants to 28 STEM-related initiatives from schools and educational organizations in Mississippi and Alabama.According to a press note, this is the program’s 12th year. Ingalls has awarded more than $1 million for science, technology, engineering and mathematics projects during that period.“These projects expose students to innovative concepts…

Libya's state oil firm NOC on Friday condemned calls to shut oil export terminals in eastern Libya controlled by military commander Khalifa Haftar ahead of a summit in Germany where he will face pressure to halt his campaign to take the capital.Tribal leaders in eastern and southern Libya called on Thursday to shut the terminals in protest at what they called the internationally-recognized government in Tripoli's use of oil revenues to pay for foreign fighters.Eastern Libya and part of the south of the country is controlled by the Libya National Army (LNA) of Haftar…

Make sure you know who you are really contracting with.A famous U.S. politician once insisted that “it takes a village to raise a child.” That said, any marine operator will tell you that it takes an even larger village and a ridiculous number of contracts to operate a vessel, and even more to manage a fleet of vessels. To make our marine operations run, we have to agree to contracts that provide for the construction or charter of a vessel, staffing, vessel catering, communications, fuel, maintenance, provisions, software, inspections, etc.

A tanker captain has been convicted and fined for failing to immediately alert Australian authorities of a main engine breakdown in 2019.On January 31, 2019, the tanker Asphalt Spirit suffered a main engine breakdown and began drifting 30 kilometers northeast of Point Lookout on North Stradbroke Island while carrying 14,000 tonnes of asphalt from from Korea to Australia.The ship’s master reported the incident via email to the Australian Maritime Safety Authority (AMSA) just after 10 p.m.

The maritime software, services and data analysis provider NAPA has announced the signing of a new contract with the northernmost year-round ferry, Wasaline, for its newbuilding Aurora Botnia.When it launches in 2021 the Aurora Botnia will be the world’s first LNG/LBG battery ship with pods under the vehicle deck, as well as the world’s most environmentally friendly RoPax vessel.Under the agreement, NAPA will provide Wasaline with its industry benchmark software applications, NAPA Emergency Computer…

The end of 2019 promises to be a busy, and potentially discordant, legislative and regulatory period for the United States maritime industry as both Congress and the Executive Branch look to take decisive action, with both positive and negative potential impacts depending on your perspective. With appropriation and authorization bills still pending, and various open regulatory actions, there are significant opportunities for maritime stakeholders to influence policy outcomes.Funding Fights Continue in CongressOn October 31…

Strict EU enforcement of competition rules prevents the development of the global champions necessary to compete with Chinese and U.S. companies, the head of shipping company Maersk warned in an interview."Is it really a good idea that we don't allow the creation of a European global champion? In doing so, we risk being outperformed by a Chinese company, over which the European Union has no influence," Maersk CEO Soren Skou told Danish business daily Finans.A Maersk spokeswoman confirmed his comments to Reuters.Skou is a member of the European Round Table for Industry (ERT)…

The largest and most versatile fleet of semi-submersible accommodation vessels in operation worldwide Prosafe SE has missed its final payment to China’s Cosco shipyard for the Safe Notos flotel.Offshore accommodation specialist  informed last November that it had re-evaluated its outlook and revised its forecasts resulting in a $341 million write down of assets and consequently a marginalized book equity amid a prolonged downturn and weaker outlook in the North Sea.Prosafe further informed that although the company had sufficient liquidity until early 2021…

Norway-based floating liquefied natural gas (LNG) giant Höegh LNG said it has secured $80 million to refinance an existing bond loan maturing in June 2020."The facility is provided by three of the company’s relationship banks and will be used to refinance part of the HLNG02 bond loan which matures in June 2020 and general corporate purposes," the Norwegian shipowner said in a press note.The facility has a tenor of 2 years and an estimated interest rate of about 5.2% for drawn amounts based on the current floating interest rates.

The US-based dry bulk carrier Eagle Bulk Shipping has joined industry group the Getting to Zero Coalition.The group is an alliance of over 90 companies within the maritime, energy, infrastructure, and finance sectors which are committed to the decarbonization of deep-sea shipping, in line with the International Maritime Organization's greenhouse gas emissions reduction strategy and the UNFCC Paris Agreement.Gary Vogel, Eagle Bulk’s CEO, said, “We are constantly working on improving energy and operational efficiencies at Eagle…

Denmark-based product tanker company TORM has obtained a commitment for a total of USD 496 million from a syndicate of lenders to refinance its debt and bolster its capital structure.The carrier of refined oil products said the total amount is a combination of two separate term facilities and a revolving credit facility, which will be used to refinance the company’s debt covering a total of USD 502 million.Following the refinancing, TORM does not have any major debt maturities until 2026 which supports TORM’s strong capital structure…

Trelleborg has acquired Signum Technology Ltd. The acquisition of Signum and its subsidiary companies Gall Thomson, KLAW LNG, KLAW Products, and Vee Bee Filtration., provides safety-critical solutions for flow control applications, including Marine Breakaway Couplings (MBCs) and safety solutions for LNG transfer systems.The move is part of Trelleborg’s strategy to strengthen its position as a system provider in oil and gas market segments, such as ship-to-ship and ship-to-shore LNG transfer.Signum Technology is headquartered in Wiltshire…

The joint venture between Fincantieri and Naval Group, held its first board meeting for Naviris. Through Naviris, Fincantieri and Naval Group are pooling their strengths to develop a new strategic capability and respond in an innovative way to the needs of their customers.The two companies have established that Naviris is a 50/50 joint venture. With the head office located in Genoa with a subsidiary in Ollioules, the Naviris team will focus on bi-national and export projects.

A London arbitration court has ordered Djibouti to restore DP World's right to operate the Doraleh Container Terminal as detailed under a 2006 concession deal within two months or pay damages, the state news agency WAM reported on Tuesday.The government of Djibouti seized the terminal from Dubai government-controlled DP World in February 2018 over a dispute dating back to at least 2012.An independent expert has estimated the losses to DP World at more than $1 billion, WAM reported. (Reporting by Asma Alsharif; Editing by Jan Harvey)

Mohammad Rastad, Iran's Deputy Minister of Roads and Urban Development said that foreign trade ships that transport goods to Iran can be confident that there will be no problem for their movement and there is no obstacle for their arrival in the country.Managing Director of Iran’s Ports and Maritime Organization Mohammad Rasta said that commercial ships carrying cargo to Iranian ports enjoy safety in light of the security provided by Iran for territorial waters.According to Iran government…

Kongsberg Maritime (KM), a Norwegian technology enterprise within the Kongsberg Gruppen, informed that it has suspended the sale of the previously announced German KM Contros GmbH to AML Oceanographic Ltd. (AML).Following a strategic evaluation and prioritization of the KM business in 2019, the company decided to divest Contros, and a Letter of Intent was signed with a future buyer of the business.However, the companies have now agreed not to pursue the previously announced letter of intent, and the sale of Contros will therefore not proceed.

Mitsubishi Shipbuilding Co., Ltd. held a christening and launch ceremony for the second of two passenger/cargo ferries currently under construction for Hankyu Ferry Co, Ltd.The new vessel, named Yamato, is being constructed at the Shimonoseki Shipyard & Machinery Works yard in Japan's Yamaguchi Prefecture and is scheduled to be delivered in June 2020 after rigging work is completed.Together with Settsu, which was christened and launched last August, Yamato will serve on the operator's Shinmoji-Kobe route.Yamato…

A Russian navy ship "aggressively approached" a U.S. Navy destroyer in the North Arabian Sea on Thursday, the U.S. Navy's Bahrain-based Fifth Fleet said in a statement on Friday.The Fifth Fleet said the U.S. destroyer USS Farragut sounded five short blasts and requested the Russian ship alter course."The Russian ship initially refused but ultimately altered course and the two ships opened distance from one another," the statement said. (Reporting by Ghaida Ghantous; Writing by Tuqa Khalid; Editing by Catherine Evans)

Tougher rules on sulphur emissions from ships set by the International Maritime Organisation (IMO) from January burden the profit outlook for Germany's container shipping line Hapag-Lloyd this year after a good 2019, its chief executive said."This will make it difficult for us to achieve a better (2020) result," Rolf Habben Jansen told reporters in Hamburg in comments on the ban on ships using a sulphur content above 0.5% on risk of fines, which is shaking up oil and shipping.But with above-market growth rates in transport volumes in 2019…

Florida-based marine services company Seacor Holdings said that its indirect wholly-owned tanker subsidiary SEA-Vista entered into an amended and restated $200 million credit agreement, which refinanced its existing credit facilities, with a syndicate of lenders led by JPMorgan Chase.The agreement provides for a $100 million revolving credit facility and a $100 million term loan facility, both of which mature in December 2024. The agreement allows SEA-Vista to use the borrowings for general corporate purposes…

Even as the United States and Iran appear to signal a keenness to avoid further conflict, oil and gas shipowners are bracing to pay a price for the war of words that culminated in rocket strikes in Iraq over the last week - higher insurance bills.According to industry sources, payments known as war risk premiums for tankers shuttling through the Strait of Hormuz could rise significantly, adding hundreds of thousands of dollars to shipping costs in some cases that will ultimately…

Norwegian based fully integrated pure play LNG transportation provider Awilco LNG ASA has announced the successful closing and completion of a 10-year sale/leaseback facility with CCB Financial Leasing Co. Ltd. (CCBFL) for the WilForce and the WilPride LNG carriers.Both vessels have been sold for a gross consideration per vessel of USD 175.0 million including non-amortizing and non-interest bearing pre-paid charter hire of USD 43.75 million per vessel.The vessels are chartered…

The US Department of Transportation’s Maritime Administration (MARAD) has will invest $7.5 million in nine Marine Highway projects as it looks to make the movement of cargo and people at sea and on land more efficient.The funding, provided by MARAD’s America’s Marine Highway Program, will go towards enhancing existing services in Florida, South Carolina, Kentucky, Louisiana, Michigan, Oregon, Texas, Virginia, and Washington.“This $7.5 million investment will improve our country’s vital fuel-efficient waterway transportation system…

The Netherlands-based Mammoet confirmed it has completed its acquisition of UK-based rival ALE, creating the industry’s largest engineered heavy lifting and transport services provider.The businesses will operate as one company under the Mammoet brand with more than 140 offices and branches worldwide, Mammoet said in a press release on Wednesday.An integration plan to be rolled out over the coming months will focus on bringing the two organizations together, Mammoet said. ALE executive board member Michael Birch will join Mammoet's executive management team as chief commercial officer.

Maersk Tankers is launching a new standalone digital business to reduce CO2 emissions and optimize vessels’ earnings across the tramp shippig industry.Soren C. Meyer is moving from Chief Asset Officer to Chief Executive Officer of the new digital venture.The as-yet-unnamed business will develop and sell the software product SimBunker to vessel owners and managers in the tramp shipping industry to help them use their vessels more efficiently. This will reduce CO2 emissions, supporting the shipping industry’s ongoing efforts towards more sustainable development…

Those shipowners looking to install marine exhaust gas cleaning systems (EGCS) as way of meeting global sulfur cap requirements are advised to ensure that manufacturers, shipyards and installers are using quality, high-end materials.Based on the collective experience gained from more than 1500 EGCS installations, Clean Shipping Alliance (CSA) 2020 members found the quality of materials and coatings used is the most important factor in optimizing EGCS safety and averting any corrosion…

British defense minister Ben Wallace said on Tuesday the Department for Transport and his ministry would issue guidance to shipping in the Middle East imminently after the killing of an Iranian military commander heightened tensions."The Department for Transport are reviewing the threat state and advice to red-ensign shipping on a daily basis and, supported by the Ministry of Defense, we will issue guidance imminently," Wallace told parliament. (Reporting by Kylie MacLellan and Elizabeth Piper; editing by Stephen Addison)

The Coast Guard is responding to a 6.5 magnitude earthquake and seismic activity off the south and southwest coasts of Puerto Rico.All the ports in Puerto Rico and the U.S. Virgin Islands remain open until further notice. Currently, there is no ongoing maritime search and rescue as a result of the registered seismic activity.Coast Guard Sector San Juan and Air Station Borinquen have activated their Incident Management Teams, which remain in close communication with local and federal…

The United States Maritime Administration website has renewed its warning about threats to U.S. commercial vessels from Iran and its proxies in the Gulf and surrounding area.The notification, valid from Monday to Jan 13., is not substantially different from an initial warning issued on Friday. "There remains the possibility of Iranian action against U.S. maritime interests in the region," both notices said.(Writing by Lisa Barrington; Editing by Alison Williams)

Russian oil and gas exploration company Gazprom Neft has completed ecological monitoring of grey whale populations at the Ayashsky license block, offshore from Sakhalin Island, with expedition members registering more than 550 animals in the course of a five-month survey.According to a press release, the ecological monitoring of grey whales in the Sea of Okhotsk forms part of a joint programme being implemented by oil and gas companies operating in Sakhalin. Gazprom Neft joined the programme in 2017…

With the January 1 implementation of IMO 2020, which requires dramatic reductions in the sulfur content of emissions from ocean-going vessels, the United States government issued a new rule that it asserts actually facilitates the distribution of compliant fuel.The US Environmental Protection Agency asserts that it is taking steps to allow for the distribution of distillate fuel with sulfur content of up to 5,000 ppm sulfur—something that it asserts was previously prohibited.

Britain's navy will accompany UK-flagged ships through the Strait of Hormuz to provide protection after the U.S. killing of Iranian military commander Qassem Soleimani inflamed tensions in the region.Britain's defence minister, Ben Wallace, ordered the HMS Montrose and HMS Defender to prepare to return to escort duties in the major oil shipping route as Prime Minister Boris Johnson came in for criticism for his silence over the killing.Media reports have said Johnson is on holiday in the Caribbean."The government will take all necessary steps to protect our ships and citizens at this time…

Stay in your lane. Ignoring such wisdom can result in catastrophe if you’re drag racing and lead to general unpleasantness on bowling league nights. This same guidance in other circumstances, for example, can be toxic. It can inhibit innovation and, at the worst possible moment, prevent the sensible use of available resources to improve a bad situation.In satisfying the demands of the offshore energy sector, the U.S. maritime industry has developed incredibly versatile tools.

The provider of energy industry solutions Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that the company has delivered a mobile 30kW hydrogen fuel cell system, which volume per unit power output is reduced to 1/3 compared to the stationary fuel cell systems, to a fuel cell ship.The fuel cell ship, which passed the Temporary Navigation Permit Inspection of Japan Craft Inspection Organization on October 30, has started demonstrations of the verification…

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest private sector port operator, has agreed to buy a 75% stake in Krishnapatnam Port Co. Ltd (KPCL) at an enterprise value of INR 13,572 crore (US $1.9 billion). KPCL is located in the southern part of Andhra Pradesh, the state with the second largest coastline of in India, and is a multi-cargo facility which handled 54 MMT in FY19.This acquisition will accelerate APSEZ’s stride towards 400 MMT by 2025.Acquisition value of KPCL is approximately Rs.13,500 cr.

Siemens Gamesa Renewable Energy (SGRE) has announced that in less than a year, and aligned to its commitment to sustainability it has accumulated €1.72 billion ($1.9Bn) in green guarantee lines."SGRE is moving forward in its strategy of making sustainability a key element of all aspects of its business, including its funding strategy," said a press statement.Siemens Gamesa recently extended a guarantee line from Danske Bank to €150 million from an initial €100 million and included Sustainable Development Goals (SDG) criteria.

Adani Ports and Special Economic Zone (APSEZ) said on Friday it would buy a 75% stake in Krishnapatnam Port Co Ltd (KPCL) for an enterprise value of 135.72 billion rupees ($1.89 billion).The deal will take its domestic market share to 27% from 22% on a pan-India basis, the company said in a filing to exchanges.The port, located in the south eastern state of Andhra Pradesh, is the second-largest private sector port in India and handled 54 MMT of cargo in 2019."APSEZ will target…

The Nordic Investment Bank (NIB) and Lithuanian liquefied natural gas (LNG) and oil terminal operator AB 'Klaipedos Nafta' (KN) have signed a EUR 134.1 million (USD 148 million) loan agreement to optimize costs of LNG terminal.The 25-year maturity loan will be directed to finance the rent payable for the Floating Storage and Regasification Unit (FSRU).“Through this loan agreement we are continuing to support Lithuania´s security of energy supply, a strategically important objective for our member country”…

Singapore-headquartered provider of maritime transportation services in the drybulk and product tanker sectors, Grindrod Shipping Holdings is planning acquisition of an additional 33.25% stake in its IVS Bulk joint venture."Grindrod Shipping is progressing negotiations to acquire all of the 33.25% ordinary and preference shares in IVS Bulk held by one of its two JV partners for approximately $44.2 million, thereby increasing our stake in the JV to 66.75%," said a press release from the provider of dry-bulk and liquid shipping services.

Houston-based Castleton Resources said that its subsidiary Castleton Commodities International LLC (CCI) has closed on the acquisition of the East Texas and North Louisiana Haynesville Shale assets of BG US Production Company LLC, a subsidiary of Royal Dutch Shell plc. Pro forma for the acquisition, Castleton Resources will hold approximately 222,400 net acres in the region and produce approximately 334 MMcfe/d (net). Castleton Resources is owned by CCI and Tokyo Gas America Ltd., a wholly owned subsidiary of Tokyo Gas Co., Ltd. Concurrent with the transaction, Tokyo Gas America Ltd.

The Coast Guard and good Samaritans aboard two commercial vessels located and rescued the crew of the 42-foot white dismasted sailing vessel Coco Haz III 656 miles west southwest of the Hawaiian Islands, Sunday.The three crew are reportedly in good condition, with one possible concussion after further assessment by a flight surgeon, and en route to Honolulu aboard the motor vessel Kalamazoo. They are expected to arrive later in the week.Crews aboard a Coast Guard HC-130 Hercules and a U.S. Navy P-8 Poseidon airplanes conducted searches over several days.

Crude oil smudges have been spotted at some Brazilian beaches in the northeast state of Ceará, the country's navy said on Monday, almost two months after the area was hit by another oil slick.That was part of a broader spill, whose origin remains a mystery, that stained hundreds of beaches on Brazil's northeast coast between September and November, threatening marine life, tourism and fishing.The navy said samples of the new spill were being sent for analysis to a marine studies institute…

Eight people were abducted and one person injured during an armed raid overnight on a Greek-registered tanker anchored off Cameroon, Greek authorities said on Tuesday.Greece's shipping ministry said the Happy Lady tanker was two nautical miles off the port of Limboh in Cameroon when it was stormed by individuals who were armed.Five Greeks, two people from the Philippines and a Ukrainian were kidnapped and a Greek national injured, the ministry said in a statement.The tanker has a crew of 28.(Reporting By Michele Kambas; Editing by Catherine Evans)

The UK shipping industry brings in a remarkable GBP 19 billion (USD 25Bln) to our economy, an increase of 41% from 2010, and directly supports 181,000 jobs, UK Chamber of Shipping said quoting a new report from the Center for Economics and Business Research (Cebr). The Chamber, which represents nearly 200 members, and works with Government, parliament and international organisations to champion and protect the industry, welcomed the report.Chief Executive of the UK Chamber of Shipping…

European short-sea and feeder lines challenge legality of Dockers' Clause extension.European short-sea and feeder ship operators are challenging efforts by the International Transport Workers’ Federation (ITF) to redefine container lashing as a cargo handling activity in order to bring it under the control of unionized dockers. The redefinition, for which ITF is seeking acceptance at a growing number of European ports, will mean that shore-based workers undertake shipboard container lashing under the supervision of the ship master…

Choosing the year’s ‘top stories’ is always a difficult task. Many compelling story threads played out, each dramatically impacting the North American waterfront, and in particular, the workboat sector – each in their own unique way.The Infrastructure Battle ContinuesThe EXECUTIVE SUMMARY H.R. 2396, the “Full Utilization of the Harbor Maintenance Trust Fund Act”, will ensure that the Harbor Maintenance Trust Fund is used for its intended purpose – maintaining Federally-authorized harbors. The legislation would allow the U.S.

Overseas Shipholding Group, the tanker company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets, has entered into agreements with BP Oil Shipping Company USA and BP AMI Leasing to purchase the crude oil carrier vessels operated by Alaska Tanker Company (ATC).OSG currently owns a 37.5% interest in ATC. As part of the above transaction, OSG will acquire the remaining 62.5% interest of ATC that it does not own.According to the publicly traded tanker company…

Hornbeck Offshore Services announced its common stock has been delisted from the New York Stock Exchange (NYSE) on December 20, 2019, and that the company began trading on the OTC Pink marketplace effective December 23, 2019.The NYSE announced that Hornbeck stock was was suspended from trading because the company did not maintain an average global market capitalization of at least $15 million over a consecutive 30-trading-day period, as required by NYSE continued listing standards.Hornbeck…

Four people were rescued from a commercial fishing vessel that sank in Coos Bay, Ore. on Thursday, the U.S. Coast Guard said.The 40-foot Darean Rose capsized and sank shortly after leaving the fuel pier at the Charleston Marina with four people aboard who reported sustaining minor injuries.Watchstanders at Coast Guard Sector North Bend were notified at 2:54 p.m. that the vessel had run aground and capsized right after departing the pier.A Coast Guard Station Coos Bay 29-foot Response…

Japan will send a warship and patrol planes to protect Japanese ships in the Middle East as the situation in the region, from which it sources nearly 90% of its crude oil imports, remains volatile, Japan's top government spokesman said on Friday.Under the plan approved by Prime Minister Shinzo Abe's cabinet, a helicopter-equipped destroyer and two P-3C patrol planes will be dispatched for information-gathering aimed at ensuring safe passage for Japanese vessels through the region.If there are any emergencies…

“An ounce of prevention is worth a pound of cure.” – Henry de Bracton, DeLegibus, ~1240Often clients or prospective clients come to me with a commercial contract issue perched on the precipice of full-blown litigation or arbitration. When I ask to see the contract, often times I see errors in drafting that either (1) give rise to the problem before me or (2) could create a bigger problem for the client in the future.The risk of drafting error is higher for Europeans looking to contract with American companies.

Seven people died and 64 were rescued when a boat carrying migrants from Pakistan, Bangladesh and Afghanistan sank on Thursday in eastern Turkey's Lake Van, the governor's office in Bitlis province said.The boat sank after capsizing as it approached Adilcevaz district in Bitlis, which is on the northern shores of Lake Van, the office said in a statement. The accident happened at around 3 a.m. (0000 GMT).The lake is near the border with Iran, from where migrants regularly cross into Turkey, heading west towards Europe.

China, Iran and Russia will hold joint naval drills starting on Friday in the Indian Ocean and Gulf of Oman, China's defence ministry said on Thursday, amid heightened tension in the region between Iran and the United States.China will send the Xining, a guided missile destroyer, to the drills, which will last until Monday, and are meant to deepen cooperation between the three countries' navies, ministry spokesman Wu Qian told a monthly news briefing.The drill was a "normal military exchange" between the three armed forces and was in line with international law and practices…

Japanese shipping giant Nippon Yusen Kabushiki Kaisha (NYK) Group has provided support to a project being conducted by maritime volunteers in the town of Pembroke, which is south of Wales, to return ginkgo saplings linked to Admiral Togo, one of Japan’s greatest naval heroes.Yusen Logistics Co. Ltd. has provided free transport from Britain, and a ceremony for receiving the saplings was held at the Hiroshima Botanical Garden in Japan on December 24.In the 1870s, the Japanese government donated the ginkgo tree to Britain…

The Recycling of Ships Bill 2019 for safe and environmentally sound recycling of ships in India has become an Act after receiving the assent of President of India.The government of India decided to bring this Act to provide for the regulation of recycling of ships by setting certain international standards and laying down the statutory mechanism for enforcement of such standards.The Government has also decided to accede to the Hong Kong International Convention for Safe and environmentally Sound Recycling of Ships, 2009.

TOP Ships has entered into an agreement with a major Chinese financier in relation to financing of up to $60.2 million for its recently acquired vessels.The Greece-based shipping company said that the two newbuilding ultra-high specification scrubber-fitted 50,000 dwt Medium Range (MR) product/chemical tankers currently under construction at Hyundai Mipo Co., Ltd. in South Korea.The delivery is due in February 2020, said the international owner and operator of modern, fuel-efficient…

Japanese shipping giant Mitsui O.S.K. Lines has signed its first green loan, which it plans to use to partially finance the construction of the world's largest liquefied natural gas bunkering vessel (LNGBV).The 18,600 cubic meters (cbm) LNGBV for Total will be owned and operated by MOL. Last year, Total and MOLsigned a long-term charter contract for a pioneer LNG bunker vessel.The loan is provided by BNP Paribas (BNPP) and the Export-Import Bank of China (CEXIM), with both banks acting as Mandated Lead Arrangers and BNPP acting as Sole Green Structuring Advisor.

The offshore supply vessel (OSV) industry has emerged from its 2017 trough, thanks in large part to a slight shrinkage of the active fleet, a string of debt restructurings, improved cost management, and an uptick in drilling activity in a few regions. The industry is far from healthy, though, and the climb back to financial well-being will likely be long and unsteady. Not every operator will survive. And even though we’ve seen some improvement from 2017 levels, leverage ratios remain sky-high, the supply of vessels far outstrips demand, and—most crucially—the price of oil remains volatile.

Britain's Royal Navy said on Monday one of its warships had helped to seize a batch of crystal meth worth more than 3.3 million pounds ($4.3 million) from smugglers in the Gulf of Oman.HMS Defender, a destroyer based at Portsmouth, southern England, sent a party to search a suspicious dhow as it conducted reconnaissance in the northern Arabian Sea.Royal marines discovered on the dhow 11 mailbag-sized sacks carrying drugs weighing 131 kg (288 lb) in total, the Royal Navy said in…

Pon Holdings announced that it intends to take over Parcom Capital's majority share in RH Marine Group. With this transaction, Pon Holdings will become 100% owner of RH Marine Group. The proposed acquisition is pending approval of competition authorities and involved works councils. The parties involved aim to complete the acquisition before the end of January 2020.RH Marine Group is a holding company consisting of three well-established companies: Radio Holland Group (Rotterdam), VBH (Amsterdam) and Aerius Marine (Hamburg).

French marine services group Bourbon Corporation, which has been in a court restructuring process after its business was hit by volatile energy markets, said its assets would be taken over by its creditor banks.Bourbon said the Marseille commercial court had ruled that Bourbon's assets would be transferred to Société Phocéenne de Participations (SPP) from Jan. 2, 2020.SPP is owned by BNP Paribas, Caisse Régionale de Crédit Agricole Mutuel Alpes Provence, Caisse Régionale de Crédit Agricole Mutuel de Paris et d'Ile de France…

A dead monkey was found in a shipping container in Whāngārei, New Zealand this month.A staff member at BBS Timbers discovered the dehydrated monkey body squeezed between sawn timber packs upon opening the fumigated container, which had arrived from Guyana.The facility alerted Biosecurity New Zealand, which advised how to remove the monkey. A biosecurity officer followed up with an inspection and picked up the body for disposal.The monkey body was in a poor condition. The species has not been identified."The whole response worked extremely well.

US President Donald Trump approved $138 million for the Charleston Harbor Deepening Project as part of the Energy and Water Appropriations Bill in the 2020 Budget.According to a statement from South Carolina Ports Authority, both the Senate and the House voted to approve the appropriations bill this week as part of the fiscal year 2020 funding package, and Trump signed it into law Friday."This enormous step forward means the project is fully funded to completion and on track to achieve a 52-foot depth in 2021," it said.S.C.

CMA CGM said on Friday it had finalized an agreement with China Merchants Port Holdings Co.

The Offshore Patrol Vessel (OPV) L’Adroit has adopted the Argentinian flag and becomes the A.R.A. BOUCHARD. The first one of the four OPVs ordered by Argentina has been designed and developed by Naval Group on its own resources. Handed over to the Argentinian Navy two months ahead of schedule and after only ten months of upgrade and modernization works. The three others OPVs will be delivered from April 2021 at the pace of one unit every six months.L’Adroit becomes the A.R.A BOUCHARDSince mid-February…

On 19 December the Cabinet of the Netherlands’ Government has submitted a so-called D-letter to the Parliament, to begin the construction of the Combat Support Ship Zr.Ms. Den Helder. The D-letter, part of the Defense Materiel Process (DMP), is the conclusive letter announcing the procurement decision for a large military project. With this new ship, the supply capacity of the Royal Netherlands Navy (RNLN) will once again expand to two ships. The construction of this new, essential…

US Offshore Support Vessel Analysis 2018 and 2019. The US GOM Offshore Support Vessel (OSV) market is suffering, utilization remains poor, and many owners are still squeezed financially. However, a poor market forces people to adapt and for those willing to take risks, the upside can be extremely large.US Owners 2018 vs. 2019: Within the US GOM, 2018 saw a period of strategic thinking and tactical business decisions. Tidewater Marine completed their merger with GulfMark Offshore to create the world’s largest OSV player.

Shane Guidry, CEO of Harvey Gulf International Marine, has announced he has purchased Harvey’s 30 percent ownership in Quality Liquefied Natural Gas Transport (QLNG). The CEO previously owned 70 percent of QLNG with Harvey and now controls 100 percent.In connection with the announcement, Mr. Guidry commented: “QLNG didn’t quite fit into Harvey’s core business and future. At Harvey, we are focused on growing globally, which we’ve done over the last 12 months. Today, we have vessels working in Mexico, Trinidad, Peru, Guyana, Suriname, USA and Nigeria.

The captain of a Vietnamese oil tanker has been jailed for over five years in Singapore for his role in a scheme that saw around $150 million of oil stolen from Shell's biggest refinery over several years.Doan Xuan Than, 47, was sentenced to 66 months in prison on Thursday, a spokesman for the State Courts of Singapore said, becoming the second person jailed in a case that also involves former employees of Royal Dutch Shell who allegedly conspired to siphon oil from the firm's Singapore refinery.The theft…

Chinese marine fuel suppliers have signed up short-term deals to buy very low-sulphur fuel oil from companies like oil major Shell, Germany's Uniper and U.S. commodities trader Freepoint ahead of a new standard on emissions for the global shipping industry that kicks in on Jan. 1.While China's state refiners have pledged to produce a combined 14 million tonnes of the fuel for 2020 that complies with the tighter rules set by the International Maritime Organization (IMO), Beijing…

The Netherlands-based terminal operator APM Terminals, a subsidiary of Maersk Group, has signed a letter of intent for the sale of APM Terminals Rotterdam to Hutchison Ports, owner of the adjacent ECT Delta terminal.The complete transfer of shares is based on the agreement that, in the short term, APM Terminals Rotterdam will continue to exist as an independent organisation with a 5-year volume guarantee from parent company, A.P. Moller-Maersk and no forced redundancies within 4 years of signing the agreement.Under the ownership of Hutchison Ports…

APM Terminals Gothenburg will switch entirely to renewable energy with their Green Gothenburg Gateway concept during 2020.A year ago, APM Terminals Gothenburg introduced the Gothenburg Gateway to accelerate the development of Sweden’s goods transports, having identified the need for Sweden to keep pace as global goods transports grow in scale and become more efficient. APM Terminals Gothenburg is now taking the next steps towards becoming a more efficient gateway by introducing Green Gothenburg Gateway on December 6th at a launch event in front of key stakeholders.

The Trump administration on Thursday renewed a waiver for companies to wind down transactions with the Dalian unit of a Chinese tanker company on which it had imposed sanctions in September for allegedly transporting Iranian oil.The waiver, good until Feb. 4, 2020, allows activities and transactions "ordinarily incident and necessary to the maintenance or wind down of transactions" including offloading of non-Iranian crude oil involving COSCO's Dalian Shipping Tanker Co, the U.S.

BIMCO’s Documentary Committee has approved two charter party sanctions clauses to help owners and charterers manage due diligence policies and navigate an increasingly complex environment of economic and trade sanctions imposed by governments.Sanctions have become a widely used geopolitical tool by governments. The rules are complex, imprecisely drafted, often changing, and the risks of violation can be high. The necessity of sanctions clauses that provide contractual certainty has prompted BIMCO to revise…

A focused Q&A with M.Sc. Chem. Eng. Anders M. Sørheim, Yara Marine TechnologiesHow important is material quality when selecting a scrubber system?If the intention of a scrubber installation is to operate the scrubber for the lifetime of the vessel, assuming a minimum of 10 years, then the material quality is imperative. A study performed by the American stainless-steel manufacturer ATI titled “Evaluation of Alloys for Marine Exhaust Scrubbers – Effect of Welding and a Crevice” confirmed the importance of correct material choice for scrubbers.

VARD has announced a contract to build 2 new-generation luxury expedition cruise vessels for PONANT.The new units, due for delivery both in 2022, will represent an evolution of the “PONANT EXPLORERS” class vessels. They will be operated in the South Pacific areas for “PAUL GAUGUIN CRUISES” brand as well as the eponymous ship acquired recently by PONANT, thus bringing the number of ships under this brand to 3. They will be built by VARD group’s production network, and they will…

Shipbuilder Metal Shark and the US Navy are nearing the end of the operational test and evaluation (OT&E) trial period for the Navy’s incoming standardized “40 PB” patrol boat platform.Developed as the replacement for up to 160 patrol vessels deployed worldwide with Navy Expeditionary Combat Command’s Coastal Riverine Forces (CRF), Metal Shark’s 40 Defiant design was selected in late 2017 from a field of seven competing shipbuilders.Metal Shark produced two of the 40-foot, welded-aluminum monohull pilothouse patrol boats for test and evaluation purposes…

Lloyd’s Register (LR) has awarded Wärtsilä system-level cyber certification for its network architecture relating to Wärtsilä’s integrated main and auxiliary machinery. The LR’s ShipRight SAFE AL2 certification, which is with Wärtsilä’s Data Collection Unit (WDCU), gives Approval-in-Principle (AiP) for the entire Wärtsilä integrated system network, rather than for any individual component. The certification is one of the first of its kind to be awarded globally.At a time when information and operational technologies onboard ships are being networked together…

The marine industry brings its own unique set of challenges.With the ‘All Subsea Factory’ market trend moving offshore exploration and production equipment for oil and gas to the seabed, safety, longevity and environmental protection are just a few of the considerations when choosing marine products. When selecting products for marine applications, the understanding of factors such as marine certifications and inspection documents are crucial to making an informed decision.Worldwide statutory provisions enacted by the United Nations (UN) agency on shipping specify general regulation and rules necessary to obtain an operating license for all categories of ship, marine and offshore applications.

China and the United States are in touch over the signing of their Phase 1 trade deal, China's commerce ministry said, which will see lower U.S. tariffs on Chinese goods and higher Chinese purchases of U.S. farm, energy and manufactured goods.The Phase 1 deal was announced last week after more than two years of on-and-off trade talks, although neither side has released many specific details of the agreement.Both the Chinese and U.S. trade teams are in close communication, Gao Feng…

Global leader in offshore wind Ørsted A/S has signed an agreement to divest its liquefied natural gas (LNG) business to the leading global natural resources company Glencore.According to the Denmark's largest energy company, Ørsted entered into a long-term agreement with the Dutch LNG regasification terminal Gate in Rotterdam regarding the right to use 3 billion cubic meters of annual regasification capacity from 2011 to 2031, in December 2007.Today, Ørsted’s LNG business consists…

A tugboat captain's Merchant Mariner Credential has been suspended after it was determined that he was operating his vessel under the influence of alcohol during a grounding incident in eastern Virginia.On November 14, 2019, the tugboat Niki Jo C drifted off course and ran aground outside the main channel of the Rappahannock River.In conducting their investigation, the US Coast Guard, the Virginia Marine Resource Commission and the Richmond County Sheriff's Office tested the crew's blood alcohol content to determine if alcohol was a causative factor.

The Unified Command discussed plans to remove diesel fuel from the fishing vessel Sea Angels at the Onslow County Emergency Operations Center, Tuesday. The fishing vessel Sea Angels ran aground near Browns Inlet, North Carolina on Dec. 9, 2019.The Unified Command has identified safety of personnel responding to the grounding and the protection of the environment as the top priorities for the on-going response efforts. The response is complicated by the presence of unexploded ordnance in the area surrounding the vessel…

Fishing Vessel Owner and Operator Plead Guilty and Fined $1 Million for Discharging Oily Waste into the Coastal Waters of the United States Sea Harvest Inc., operator of the fishing vessels Enterprise and Pacific Capes, along with Fishing Vessel Enterprises Inc., the vessels’ owner, pleaded guilty today to violating the Clean Water Act for both knowing and negligent discharges of oily bilge water from the vessels’ engine rooms. The companies were sentenced to pay a $1 million criminal fine and serve a five-year term of probation.

Brazilian authorities on Wednesday targeted Maersk and other companies for allegedly paying bribes to get an edge in securing shipping contracts with state oil firm Petroleo Brasileiro SA, in the latest phase of a sprawling graft probe.Federal prosecutors said in a statement that Denmark's Maersk, the world's largest shipping company, was involved in allegedly paying $3.4 million in bribes related to 11 shipping contracts with Petrobras, worth 592 million reais ($141.07 million).Maersk was not immediately able to comment when contacted by Reuters.

Shipping associations have proposed creating a research fund with $5 billion raised by the industry to develop technology to help the sector meet U.N. targets on cutting emissions."The global maritime transport industry has submitted a proposal to form the world’s first collaborative shipping R&D program to help eliminate CO2 emissions from international shipping," said a press note from International Chamber of Shipping (ICS).The proposal include a new non-governmental Research & Development organisation to pave the way for decarbonization of shipping.

Underwater hull cleaning specialist HullWiper Ltd is joining forces with GAC Qatar in preparation to launch its hull cleaning solution at the Qatari port of Ras Laffan in early 2020 to meet growing demand for eco-friendly hull cleaning solutions.GAC Qatar is the only company to have been granted a license by the country’s Environment Ministry to operate hull cleaning equipment in its waters.HullWiper’s Remotely Operated Vehicle (ROV) complies with Qatar’s regulations, which include…

Following DP World’s recent acquisition of Topaz Energy and Marine and its integration with P&O Maritime created a new brand P&O Maritime Logistics - a global provider of maritime solutions in offshore, port services and logistics.Through the synergies created by the merger of the two companies, under the DP World umbrella, the POML business is well positioned to grow and build further scale and value for customers and shareholders alike.Offering a distinctive value proposition to customers…

Carnival Corporation has announced it has joined the Getting to Zero Coalition.Carnival Corporation is the first cruise company to join the global alliance.The coalition’s goal aligns with the International Maritime Organization’s (IMO) strategy to reduce greenhouse gas emissions from shipping by at least 50% by 2050 as compared to 2008 emissions. To meet the target, the Getting to Zero Coalition aspires to having technically feasible, commercially viable zero emission deep sea vessels (ZEVs) entering the global shipping fleet as early as 2030.

Mitsui O.S.K. Lines, Ltd. and e5 Lab. concluded a Memorandum Of Understanding (MOU) to conduct a joint study of a hybrid pure car carrier equipped with a hydrogen fuel cell system and large-capacity batteries (hydrogen hybrid PCC). The companies aim to develop a hydrogen hybrid PCC, which do not emit carbon dioxide (CO2), sulfur oxides (SOx), nitrogen oxides (NOx), or particulate matter (PM) while underway in coastal waters or in ports, in other words, achieving “zero emissions…

GasLog signed an Export Credit Agency-backed debt financing of $1.05 billion with 12 international banks for its current newbuilding program.The LNG carrier owner and operator has seven LNG carriers on order at South Korean shipyard Samsung Heavy Industries (SHI), five of which are for delivery in 2020 with two more due in 2021.The Newbuild Facility covers the balance due to the shipyard on delivery and consequently the final installments of the seven newbuildings are fully funded.Five…

India's foreign ministry said on Monday that 20 of its nationals had been kidnapped from an oil tanker in West African waters."Our Mission in Abuja has taken up the matter with the Nigerian authorities, as also with the authorities of the neighbouring countries," the ministry said in a statement.It said the vessel was the Marshall Islands-flagged DUKE.The ship's operator Union Maritime wrote on its website that the craft was "attacked and boarded" while carrying fuel oil to the Togolese capital Lome from Angola and that the company was working with relevant authorities to resolve the incident.

Classification Society ClassNK certified the Cyber Security Management System (CSMS) of NYK Group subsidiary NYK LNG Shipmanagement Ltd. and its managed LNG carrier “PACIFIC MIMOSA”. This is the first CSMS certified by the Society.ClassNK released its “Cyber Security Management System for Ships” in March 2019 which provides guidance on ensuring, implementing, maintaining, and continuously improving the cyber security management system of companies and ships with the goal of safe navigation.