Marine Transportation News

17 Apr 2019

ABS holds 157th Annual Meeting

ABS Chairman, President and CEO Christopher J. Wiernicki

The 157th Annual Meeting Hears How Safety Leadership is Driving Sustainability in Maritime. ABS held its 157th Annual Meeting on Tuesday, detailing the organization’s performance and future focus to its members. “In 2018, we delivered solid, top-tier performance. We maintained leading positions with owners and builders, held our 70-year-strong top position in the offshore market, and led the industry for safety, port state control, and the global orderbook to grow our classed fleet to 260MT,” said ABS Chairman, President and CEO Christopher J.

16 Apr 2019

Scorpio Sells, Leaseback Six Vessels

Pic: Scorpio Bulkers Inc.

Monaco-based dry bulk shipping company Scorpio Bulkers has agreed to sell and leaseback six Ultramax vessels to AVIC International Leasing.The dry bulk operator said in a press note that the six vessels are SBI Antares, SBI Bravo, SBI Hydra, SBI Leo, SBI Lyra and SBI Maia.Upon completion, which is estimated to take place in the second quarter of 2019, the Company’s liquidity is expected to increase by up to $62.4 million in aggregate, comprising up to $52.6 million upon closing…

11 Apr 2019

Teekay Gets ECA-backed Newbuild Loan

Image: Teekay Offshore Partners

Teekay Offshore Partner, a marine energy transportation, storage & production company, has signed for a shipping export credit agency (ECA)-backed US$414m debt facility to fund four LNG-fuelled newbuild shuttle tankers.Watson Farley & Williams (WFW) is advising its long-standing client Teekay on this ECA-backed newbuild loan, noted a release.The facility, which bears interest at Libor plus 225 basis points for up to 12 years from each delivery, is funded and guaranteed by both…

08 Apr 2019

Scorpio Bulkers Sells Two More Vessels

Pic: Scorpio Bulkers Inc

The international provider of marine transportation of dry bulk commodities Scorpio Bulkers has once again sold vessels with two new sale and lease back agreements.This time the sale concerns two Ultramax vessels - SBI Libra and SBI Virgo - to an unaffiliated third party.Upon completion, which is estimated to take place in the second quarter of 2019, the Company’s liquidity is expected to increase by up to $17.0 million in aggregate, comprising $14.0 million upon closing after…

04 Apr 2019

Teekay Secures Loan for Shuttle Tanker Newbuilds

Pic: Teekay

International midstream services provider, Teekay Offshore Partners announced that it has secured a new $414 million long-term debt facility that will be used to finance four LNG-fueled Suezmax DP2 shuttle tanker newbuildings.Upon delivery in 2019 and 2020, two of the vessels will commence operations under the Partnership’s Master Agreement with Equinor, while the remaining two vessels will join the Partnership’s contract of affreightment (CoA) shuttle tanker portfolio in the North Sea…

04 Apr 2019

Furetank Orders Dual Fuel Product Tanker

Image: Furetank

Sweden's Furetank Rederi AB has signed a contract for one 17,999 dwt dual fuel product tanker at Avic Dingheng Shipbuilding.The agreement with the yard includes an option for one further vessel, said a press release from the provider of marine transportation services through product and chemical tankers.The new vessel will be identical with the series of six sister vessels built by Avic Dingheng Shipbuilding for Furetank Rederi AB, Rederi AB Älvtank and Erik Thun AB during 2018‐2019.All vessels are designed with special focus on minimal impact on the environment and has dual fuel capability…

02 Apr 2019

Algoma Tankers Add Algoterra to its Fleet

Image: Algoma Central Corporation

Algoma Tankers, an operating unit of Algoma Central Corporation,  announced that it has taken delivery of the 16,500 DWT Algoterra, a 2010-built product tanker in Amsterdam, Netherlands and the vessel has begun her delivery voyage to Canada.The provider of marine transportation services said in a press release that the vessel departed Amsterdam on March 30, 2019 and will travel through the English Channel before crossing the Atlantic Ocean destined for Halifax. The Algoterra is expected to begin trading in Canada mid-April.“I am pleased to say that our fleet is fully booked for the season…

02 Apr 2019

Franco out as Harley Marine Services CEO

The Board of Directors of Harley Marine Services announced via press release that Harley Franco will no longer be serving as the company’s Chief Executive Officer. Matt Godden will remain as President of the Company. “Since the beginning of 2019, Harley Marine has made significant progress in ensuring its long-term stability as one of the nation’s leading marine transportation providers” said Godden. “Harley Marine is renowned for its track record in safety and operational capabilities and we intend to continue with this unparalleled commitment to quality.” According to Jon Foster, the successor Chairman of the Board of Directors, “we believe that Matt…

29 Mar 2019

Containership Spills Oil in New York

A containership has reportedly leaked fuel oil into the Arthur Kill waterway near Staten Island, N.Y., the U.S. Coast Guard said.The Coast Guard said it is working alongside partner agencies to respond to the spill, which occurred while the vessel was moored at the Global Marine New York Container Terminal on Thursday afternoon. The amount of fuel spilled is currently unknown, and the cause of the spill is under investigation, the Coast Guard said.A Unified Command has been established on scene to coordinate cleanup efforts. Containment boom has been placed around the vessel and there are multiple oil spill response vessels actively…

28 Mar 2019

Fred. Olsen Ocean Buys Stake in UWL

Image: United Wind Logistics GmbH

Fred. Olsen Ocean (FOO) has entered into an agreement to acquire a 50% ownership in United Wind Logistics GmbH (UWL) through the contribution of new equity in the amount of EUR 12 million.The ownership split in UWL will be FOO 50.0 %, United Shipping Group GmbH 37.5 % and CPLP Holding GmbH 12.5 %, said a press note from the wholly owned by Bonheur ASA.UWL is a Hamburg (Germany) based company offering services within marine transportation of various offshore wind turbine components…

25 Mar 2019

Yang Ming Reports $219mln Loss for 2018

Pic: Yang Ming

Taiwanese global shipping and logistics services company Yang Ming Marine Transportation Corp. it had a net loss of $218.5 million in 2018, with operating results significantly impacted by higher fuel prices.According to a stock exchange annoucement from the ocean shipping company based in Keelung, its consolidated revenues of 2018 totaled NTD 141.83 billion (USD 4.70 billion), up 8.21 % compared with NTD 131.08 billion (USD 4.35 billion) in revenue from previous year.Volumes in 2018 increased to 5…

20 Mar 2019

IAMPE's Newest Class Of Maritime Port Executives

Photo: IAMPE

The International Association of Maritime and Port Executives (IAMPE) has announced the latest group of Maritime Port Executives who completed the accredited seminar the week of March 11th at DHS/USCG Headquarters in Washington, DC.The latest class of graduates include LCDR. William Albright, USCG-MPE; Mr. Zach Bonheim-MPE; Cdr. Charles Bright, USCG-MPE; CDR. Bradely Clare, USCG-MPE; LCDR. Dan Davis, USCG-MPE; LCDR. Leslie Downing, USCG-MPE; LCDR. Jamie Gatz, USCG-MPE; CDR. Jason Gunning, USCG-MPE; Mr. Rajiv Khandpur-MPE; LT. David Liberman, USCG-MPE; LCDR. Ben Mazyck, USCG-MPE; LCDR.

20 Mar 2019

Shearwater Bags Turkey Seismic Contract

Image: Shearwater GeoServices

The global provider of geophysical marine seismic acquisition Shearwater GeoServices has been awarded a seismic acquisition and depth processing contract by Turkish national oil and gas company Türkiye Petrolleri Anonim Ortakligi (TPAO).The survey contract covers an area of 2200 sqkm and includes fast track processing, followed by full time and depth processing, but location not revealed.Work will commence in Q2 2019 and will be conducted by the Polar Empress, said a press release.“We are very pleased to see the Polar Empress contracted by TPAO for this 14-streamer survey…

19 Mar 2019

Vitol Expands Tanker Fleet

Pic: Vitol

Global energy trader Vitol has agreed to acquire a further 50 percent share of the global asphalt trading company VALT to integrate the asphalt trading business into the company.VALT is the bitumen joint-venture it established with Sargeant Marine in 2016.The Swiss-based company said in a press release that it would acquire the final 50 percent of the joint venture which it established with Sargeant Marine in 2016. This means, on transaction completion, Vitol will own 100 percent of VALT.The acquisition will make Vitol a leader in the trading…

20 Mar 2019

Marine Hybrid quietly arrives … positioned to explode

The Harbor Harvest under construction (CREDIT: Robert Kunkel)

Hybrid is not only here, it is growing, and with that growth it will soon reach far beyond coastal applications.For those who were around for the arrival of Y2K, you will remember the anticipation, preparation and perspiration as the maritime world waited for the failure of communications, navigation, security and machinery associated with the digital change of the clock. The forecasts, now historical urban legend, left the world without a digital catastrophe.We wait now for 2020 and the advent of the IMO maritime emissions regulations.

15 Mar 2019

Kirby Closes Cenac Fleet Acquisition

File Image (CREDIT: Cenac)

Kirby Corporation announced the completion of the acquisition of the marine transportation fleet of Cenac Marine Services, LLC, an operator of tank barges and towboats participating in the inland tank barge transportation industry in the United States. The total value of the transaction was approximately $244 million and was financed with additional borrowings. Cenac’s fleet consists of 63 30,000-barrel inland tank barges with approximately 1.9 million barrels of capacity, 34 inland towboats, and 2 offshore tugboats.

15 Mar 2019

McManus Named T/S Empire State VI Master

Captain Morgan McManus (Photo: SUNY Maritime College)

SUNY Maritime College has appointed Captain Morgan McManus as the Master of the T/S Empire State VI. An alumnus of SUNY Maritime College, Captain McManus graduated in 1992 with a bachelor’s degree in Marine Transportation.Captain McManus has over 12 years’ experience sailing as Master including on the SS Cape Jacob, the sister ship to T/S Empire State VI. His sailing career has taken him on various types of commercial ships including steam, motor, breakbulk, container, car carriers, tankers, and cutting-edge dynamic positioned drill ships.

14 Mar 2019

Scorpio Sells Seven Ships

Pic: Scorpio Bulkers Inc.

The provider of marine transportation of dry bulk commodities, Scorpio Bulkers announced that it has agreed to sell and leaseback three Ultramax vessels (SBI Pegasus, SBI Subaru and SBI Ursa) and four Kamsarmax vessels (SBI Lambada, SBI Macarena, SBI Carioca and SBI Capoeira) to CMB Financial Leasing.Upon completion, which is estimated to take place in the second quarter of 2019, the Company’s liquidity is expected to increase by $57.2 million in aggregate, comprising $45.4 million…

14 Mar 2019

GAC Bags Petronas Job

Image: GAC Marine

GAC Marine’s branch in Turkmenistan has been awarded two contracts by Petronas Carigali, a subsidiary of Petronas, to provide marine services for its development of the Garagol Deniz West (GDW) oil field.The service provider of full marine transportation to the offshore industry said in a press release that it will supply three anchor-handling vessels manned by experienced crew and kitted out with specialist onboard equipment to provide critical 24-hour support for the drilling…

12 Mar 2019

HazSub Spill Response Plans

© VanderWolf Images/AdobeStock

On August 18, 1990, the Oil Pollution Act of 1990 (OPA 90) was enacted into law. Section 4202 of that Act amended the Federal Water Pollution Control Act (FWPCA or Clean Water Act) to require tank vessels and marine transportation-related facilities to prepare and submit to the US Coast Guard plans for responding, to the maximum extent practicable, to a worse case discharge, and to a substantial threat of such a discharge, of oil or a hazardous substance carried in bulk as cargo.

08 Mar 2019

Towboat Sinks in the Mississippi River

Five crewmembers have been rescued from a towing vessel that sank in the Mississippi River near Laplace, La., Thursday, the U.S. Coast Guard said.At approximately 3 p.m Coast Guard Sector New Orleans received a report that the St. Rita, owned and operated by Marquette Transportation Company, sank on the right descending bank on the Mississippi River.The five crewmembers that were on board the vessel were rescued by nearby towing vessel, Rod C, and then transported to shore. No injuries were reported. There are no reported impacts to vessel traffic and the river remains open, the Coast Guard said.According to the Coast Guard, the St.

22 Feb 2019

Scorpio Refinances a Kamsarmax Vessel

Pic: Scorpio Bulkers

New York-listed Scorpio Bulkers has entered into a financing transaction in respect of one of its Kamsarmax vessels with an unaffiliated third party.As part of the transaction, the provider of marine transportation of dry bulk commodities will sell a 2015 Japanese built Kamsarmax dry bulk vessel, SBI Samba, for a consideration of $21.4 million and then lease it back from the buyer through a five-year bareboat charter agreement at a rate of $6,850 per day.The transaction also provides…

21 Feb 2019

DIS Sells a Tanker

Image: d’Amico International Shipping (DIS)

The international marine transportation company d’Amico International Shipping (DIS) announced that its joint venture (JV) company DM Shipping (DMS)  signed a memorandum of agreement for the sale of its product tanker vessel MT High Strength  for a consideration of USD 16.4 millionThe 46,800 dwt MR tanker is , built in 2009 by Nakai Zosen Corporation, Japan. DMS is a JV with the Mitsubishi Group, in which d’Amico Tankers (Ireland) holds a 51% participation.MT High Strength will continue its current time-charter out contract with d’Amico Tankers until October 2019…

Maritime Reporter Magazine Cover Apr 2019 - Navies of the World

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