Four New Barges Launched for Canada's MTS
Four new 90-meter oil/deck cargo barges for Canada's Government of the Northwest Territories (GNWT) Marine Transportation Services (MTS) have been launched by Nanjing Jinling Shipyard, in Nanjing, China.The first barge MTS 3501 was launched on June 16, followed by barge MTS 3502 launched on June 22 and barges MTS 3503 and MTS 3504 launched on June 28.The barges will undergo final testing and touch-up work in preparation for the 400-kilometer tow down the Yangtse River to Shanghai where they will be loaded onto a semi-submersible heavy lift vessel and transported to Tuktoyaktuk…
GoodBulk President Andrew Garcia Resigns
Monaco-based international owner and operator of dry bulk vessels GoodBulk has announced that Andrew Garcia has resigned from his position of president and director.The provider of marine transportation services said in a press release that its board has approved Brentwood Shipping and Trading’s appointment of Carlos Pena, Chief Commercial Officer of C Transport Maritime S.A.M. (CTM), as incoming Director.Pena has over 16 years’ experience in shipping across various areas and within CTM, GoodBulk’s commercial, operational and technical manager, he is responsible for overseeing all commercial activities.The company said that it is confident Pena will bring a wealth of knowledge and insight helping to further GoodBulk’s goals.
Kuok Makes Cash Offer for POSH
The Kuok Group, through its investment vehicle Quetzal Capital, announced a voluntary conditional cash offer to buy out Singapore-listed PACC Offshore Services Holdings Ltd (POSH).Quetzal Capital said that the conditional offer to acquire all of POSH for S$0.215 a share, marking a 97.2 percent premium over the stock’s closing price on 30 October.The offer price represents a premium of approximately 109.8%, 96.2%, 69.6% and 35.3% over the one-month, three-month, six-month and twelve-month volume-weighted average prices respectively, POSH said in a statement.“The offer presents shareholders with a unique cash exit opportunity to realize their entire investment in POSH at an attractive premium over prevailing trading prices,” Quetzal Capital said in a filing to SGX.
Teekay Resolves China LNG JV Issues
Teekay LNG’s 50/50 joint venture with China LNG, which owns four on-the-water ARC7 LNG carriers and two ARC7 LNG carrier newbuildings, is also no longer classified as a “blocked person” under Office of Foreign Assets Control (OFAC) rules.According to a press release from the owners and operators of LNG carriers, providing LNG and LPG marine transportation services firm, Teekay Corporation and Teekay LNG Partners announced that COSCO Shipping Energy Transportation, a COSCO group firm, has completed an ownership restructuring on arms-length terms which has resulted in Teekay LNG’s joint venture partner, China LNG Shipping Holdings.The JV had been then designated as a "blocked person" under U.S.
Teekay Extends Hummingbird Spirit FPSO
Teekay Corporation, a provider of crude oil and gas marine transportation services, has entered into an agreement with the Chestnut Joint Venture to extend the employment of the Hummingbird Spirit FPSO unit (Hummingbird) on the Chestnut field in the North Sea until March 2023.Chestnut is a joint venture between Spirit Energy Ltd. and Dana Petroleum Ltd.The contract extension was done in conjunction with the Chestnut Joint Venture’s plan to drill a new well at the Chestnut field.The new Hummingbird contract took effect on October 1, 2019 and is based on a fixed charter rate instead of the previous fixed charter rate plus oil production/price…
Algoma Acquires Croatian-Built Vessel
Canadaian provider of marine transportation services Algoma Central Corporation has reached an agreement with 3Maj Brodogradiliste of Croatia under which Algoma will acquire a new Equinox Class 650’ self-unloading dry-bulk carrier upon completion of the vessel by the Shipyard.The vessel, the second of two such ships that were to be built by 3Maj for the Company, is partially built and moored at the 3Maj shipyard in Rijeka. Work on the vessel was halted in 2017 when the Shipyard entered an extended period of financial difficulties.Algoma took delivery of the Algoma Innovator, a sister ship and the first ship built under a two-vessel contract, near the beginning of the 2018 navigation season.
CITB Expands North Slope Operations
Cook Inlet Tug & Barge (CITB), an independently managed subsidiary of Foss Maritime Company, has announced that operations on Alaska’s North Slope are officially underway for the 2019 ice-free season. Three newly acquired tugs, along with barges and shore equipment, will be operating out of Prudhoe Bay for approximately the next three months.“It is great to see these vessels on the water and ready to work,” said Jeff Johnson, President of CITB. “These shallow-draft tugs and barges…
Algoma Expands Ocean Self-Unloader Pool
The provider of marine transportation services, Algoma Shipping Ltd announced that the acquisition of the interest held by Oldendorff Carriers in the CSL International Pool including the three vessels owned by Oldendorff operating in the Pool has been finalised.As a result of the transaction, Algoma’s interest in the Pool has increased to approximately 40%, said the subsidiary of Algoma Central Corporation.The handy-sized Algoma Verity (formerly the Alice Oldendorff) and the panamax sized Algoma Valour and Algoma Victory (formerly the Harmen Oldendorff and the Sophie Oldendorff, respectively) bring Algoma’s ocean going self-unloader…
Seaspan Orders Two LNG Battery Hybrids
Canada's Seaspan Ferries will add two new Liquid Natural Gas (LNG) - battery hybrid ferries to its fleet in 2021.The vessels will be constructed by Damen Shipyards Gorinchem B.V. at their Mangalia Shipyard in Romania, said a press release from the marine transportation services provider.With construction scheduled to begin in 2019, the vessels are expected to go into operation in 2021. They will join the Seaspan Swift and the Seaspan Reliant, the company’s first hybrid ferries, commissioned just over two years ago.Since introducing these vessels to their fleet, Seaspan Ferries has been able to significantly reduce greenhouse gas emissions…
Teekay LNG Partners Bags New 3-Year Charter
Teekay GP, the general partner of Teekay LNG Partners, has secured a new, 3-year fixed-rate charter contract for the Magellan Spirit LNG carrier to an integrated oil and gas company commencing during the summer of 2019. Concurrently, Teekay LNG extended the in-charter of the Magellan Spirit until the summer of 2022, said a release from the marine energy transportation, storage & production company."Including the new, 3-year charter announced today, the Partnership’s LNG carrier fleet is approximately 97, 93 and 92 percent fixed for the remainder of this year, 2020 and 2021, respectively, which further supports Teekay LNG’s expected earnings growth and continued deleveraging profile over the next few years…
Furetank Orders Dual Fuel Product Tanker
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, run on LNG and has several features that reduce fuel and energy consumption resulting in extensively lower emissions of CO2…
Algoma Tankers Add Algoterra to its Fleet
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,” said Gregg Ruhl, President and CEO at Algoma. “The Algoterra is the second product tanker acquired by ATL in the last four months after the Algonorth joined the fleet in early December.
Shearwater Bags Turkey Seismic Contract
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, following on from efficient operations elsewhere completing ahead of schedule.
Round the Clock Business Demands Seamless Comms
Network Innovations and its inland waterways connectivity solution eliminates “dead spot” coverage woes. And, not a moment too soon.The bane of inland operators – or at least one of many – has always been the dearth of reliable and economical vessel-to-shore communications. Even in America’s heartland where cellular coverage is routinely billed as seamless, so-called ‘dead spots’ persist. Sometimes, this happens at the worst possible moment for an operator who has myriad far flung assets on dozens of remote inland waterways. For a long time, satellite service has not been deemed economically feasible for inland operators. Beyond that, unlike blue water deep sea operators, there was little need to download data or employ software solutions in every day operations.
Algoma Conveyor Heading for Canada
The provider of marine transportation services Algoma Central Corporation announced that the recently completed Algoma Conveyor, the third Seawaymax Equinox Class 740’ self-unloading dry-bulk carrier, has begun its delivery voyage from China to Canada.The vessel began its two month journey home, departing the Yangzijiang shipyard on February 16, 2019.After taking fuel in the Philippines the vessel will cross the Pacific Ocean, travelling through the Panama Canal and from there will make its way to Canada. The vessel is expected to arrive in early April.“We are looking forward to the Algoma Conveyor joining our fleet for the 2019 navigation season as market demand and volumes are strong…
Asahi MOL Tankers Established
Japanese shipping company Mitsui O.S.K. Lines (MOL) and the marine transportation services provider Asahi Tanker Co have launched a new MR product tankers pool with a fleet of about 25 ships.The new pool, named Asahi MOL Tankers and headquartered in Republic of the Marshall Islands, will also launch MR product tankers that will be assigned to the pool.MR stands for Medium Range and refers to product tankers in the 45,000-55,000 deadweight ton class. This ship type has great versatility in transporting petroleum products such as gasoline, naphtha, gas oil, and jet fuel, and is in high demand around the world."The pool will own a fleet of about 25 vessels and allocate them mainly to Asia and Oceania from the three centers of Tokyo, Singapore, and London.
Algoma Central: Refund Given for Cancelled Ship Contract
Algoma Central Corporation (TSX: ALC), a provider of marine transportation services, announced that it has received full refund of all instalment payments made in connection with the now-cancelled shipbuilding contracts with Uljanik d.d. and 3Maj Shipyard of Croatia.Algoma entered into five shipbuilding contracts with 3Maj Shipyard, an operating unit of Uljanik d.d of Croatia. According to a press release from Algoma, after considerable delay, the first of the five vessels was delivered in 2018; however, Algoma cancelled the remaining four contracts as the shipyard’s financial difficulties led to a much-publicized attempt to refinance the company and shipyard management was unable to put forward a credible plan that would lead to completion of the remaining hulls.
Algoma Central Buys Product Tanker
Canadian dry-bulk shipper Algoma Central Corporation announced the purchase of a 2008 built product tanker which will become the seventh tanker within the Algoma Tankers Limited fleet.A press release from the provider of marine transportation services said that the purchase demonstrates Algoma’s commitment to continuing to safely and efficiently ship petroleum products on the Great Lakes – St. Lawrence Seaway and East Coast.“We are extremely pleased to add a vessel to our Algoma Tankers Limited fleet as customer demand continues to strengthen in this segment,” said Ken Soerensen, President and CEO of Algoma.The 16,958 dwt. vessel will be re-named the Algonorth, after the Company held a “Name the Tanker Contest,” in which all employees were able to take part.
Algoma Central Cancels Croatian New Build Contracts
Canadian shipping company Algoma Central Corporation has decided to cancel all four newbuild construction contracts with Croatian shipbuilder Uljanik.The provider of marine transportation services announced in a press release that that it has taken steps to cancel its remaining four new build construction contracts with a Croatian shipyard.The cancellation notices have been sent to the shipyard as a result of the Yard’s failure to secure refinancing and Algoma has no assurance that the shipyard will be able to complete the four vessels.The Company will now initiate the process to be reimbursed for contract instalments paid to date, including…
Arlen "Benny" Cenac Jr.: Navigating a Different Course Line, Making a Difference
Cenac Marine Services and its dynamic, third generation leader, Arlen “Benny” Cenac Jr., continue to flourish, in good times and bad. Through it all, leadership, philanthropy and investments that extend far beyond the company’s gates have made all the difference.As this year quickly churns to its inevitable close, Cenac Marine Services isn’t the nation’s biggest towboat operation, but its profound impact on the people and environment of the U.S. Gulf Coast and beyond is unquestionable. At a time when most operators are happy to simply strive for an environmentally correct and regulatory compliant business signature, Arlen “Benny” Cenac Jr.
Algoma Adds Algoma Innovator
Algoma Central Corporation, a leading provider of marine transportation services, today announced that it has taken ownership of the Algoma Innovator from the Uljanik d.d. shipyard in Croatia. The vessel is part of the Company’s Equinox 650’ class of self-unloading dry-bulk lake freighters and is the first new forward mounted boom ship to be built in 45 years. The vessel has been engineered to be a leader in the river class business; it’s forward mounted boom will permit cargo to be delivered into niche spaces allowing greater access and flexibility to customers. The winter season in the North Atlantic does not provide safe conditions for a transit voyage by a lake freighter; consequently, the vessel is scheduled to depart Croatia mid February, 2018 to be ready for the opening of the St.
Algoma Purchases Four U.S. Flag 'Lakers'
Algoma Central Corporation, a provider of marine transportation services, today announced it has reached an agreement with American Steamship Company to acquire four vessels. The Company has acquired the M.V. Buffalo, the M.V. Adam E. Cornelius, the S.S. American Valor and the S.S. American Victory. The availability of these vessels presented an opportunity to expand Algoma’s vessel fleet and capacity at extremely attractive values. Both the M.V. Buffalo and the M.V. Adam E. Cornelius will provide efficient capacity to serve customers in the river-class segment of Algoma’s Domestic Dry Bulk market. Both ships will complement the Company’s existing fleet to ship salt, aggregates, and other commodities.
St. Louis, Plaquemines Ports Ink MoU for Mississippi River Cooperation
St. Louis Regional Freightway, Port of Plaquemines and St. Louis Regional Ports Sign Agreement to Foster Economic Growth on the Mississippi River. The pact will help support development of a new transportation link for cargo to move along the Mississippi River. The St. Louis Regional Freightway, Plaquemines Port Harbor & Terminal District located in the State of Louisiana and four ports in the St. Understanding (MOU) to establish and grow an alliance to generate new business by promoting international and inland trade routes at strategic locations along the Mississippi River. The agreement, which represents a five-year commitment, calls for joint marketing initiatives and exchange of data to further those goals. The agreement embodies the St.