Marine Link
Saturday, December 15, 2018

Marshall Islands News

Eagle Bulk Shipping Expands Fleet Scrubber Initiative

Pic: Eagle Bulk Shipping

The US-based fully integrated shipowner-operator engaged in the global transportation of drybulk commodities Eagle Bulk Shipping announced that is has exercised its options to purchase 15 additional exhaust gas cleaning systems (scrubbers) which are to be retrofitted on vessels within its fleet. The Marshall Islands corporation said in a press release that this follows the Company’s prior announcement that it had entered into a series of agreements for the purchase of up to 37 scrubbers…

Global Ship Lease Closes Poseidon Containers Deal

File Image: Global Ship Lease

Marshall Islands-based Global Ship Lease (GSL) announced that it has completed the proposed merger deal with Greece's Poseidon Containers.According to a release from GSL, the combined company will have a fleet of 38 vessels with a total capacity of 198,793 TEU, and, as of September 30, 2018, an average fleet age weighted by TEU of 10.7 years, and with the recently announced new charters, contracted revenue of approximately $720 million. "The closing of the merger creates a market leader with an asset base of more than $1.3 billion…

Oil Removed from WWII Era Shipwreck

(U.S. Navy photo by LeighAhn Ferrari)

A U.S. Navy led team has removed 229,000 gallons of oil from a sunken World War II era German heavy cruiser that has been resting on the seafloor near the Marshall Islands for more than 70 years.After being transferred to the U.S. as a war prize, the cruiser Prinz Eugen was loaded with oil and cargo and used to assess survivability of warships during the Operation Crossroads atomic bomb tests in the Pacific. The ship survived two atomic blasts before being towed to Kwajalein Atoll…

Global Ship Lease Bags New TC with CMA CGM

Pic: CMA CGM

Containership lessor Global Ship Lease, announced a new time charter with ANL, a wholly owned subsidiary of CMA CGM, for the 2003-built, 2,207 TEU containership GSL Keta (formerly Delmas Keta).The containership charter owner informed that the new charter, commencing on or around November 20, 2018, is for a period of between seven and 10 months (at charterer’s option) at a rate of $8,450 per day, up from $7,800 per day under the preceding charter.The company incorporated in the Marshall Islands has also exercised options to extend the existing charters of the 2002-built…

Matson Launches New U.S. Flag Marshall Islands Service

File Image: a recent Matson newbuild vessel (CREDIT Matson)

Matson has launched its new direct U.S. flag service between Honolulu and the Republic of the Marshall Islands ("RMI"), reducing cargo transit times to the RMI from the U.S. mainland by as many as eight days. The new service will call at three ports in the RMI - Kwajalein, Ebeye and Majuro every 17 days. Matson purchased a 700-TEU, U.S.-flagged containership to operate the new service. Christened Kamokuiki, or 'small island or vessel' in the Hawaiian language,  the vessel is well suited to serving island communities with two 45 ton cranes onboard…

Bollinger Delivers 31st Fast Response Cutter

Photo: Bollinger Shipyards

Bollinger Shipyards has delivered the USCGC Terrell Horne, the 31st Fast Response Cutter (FRC) to the U.S. Coast Guard. The Coast Guard took delivery on the October 25, 2018 in Key West, Fla.The 154 foot patrol craft USCGC Terrell Horne, the 31st vessel in the Coast Guard's Sentinel-class FRC program has a flank speed over 28 knots, state of the art command, control, communications and computer technology, and a stern launch system for the vessel’s 26 foot cutter boat. The FRC has been described as an operational “game changer,” by senior Coast Guard officials.

Eagle Bulk Shipping Adds Hamburg Eagle to its Fleet

Pic: Eagle Bulk Shipping

The owner-operator in the Supramax/Ultramax segment Eagle Bulk Shipping announced that it has taken delivery of its newly acquired vessel, the M/V Hamburg Eagle, a 2014-built SDARI-64 Ultramax.The acquisition has been funded by cash on-hand and new debt equating to USD 12.8 million. This new loan represents an upsize to the existing Eagle Bulk Ultraco LLC loan facility which carries an interest rate of LIBOR plus 2.95% and has a maturity of October 31, 2022.With the addition of the M/V Hamburg Eagle…

Marshall Islands Confirms No Class Certificate Surcharge

International Registries, Inc. and its affiliates (IRI) announced that the Republic of the Marshall Islands (RMI) Registry will not levy surcharges and commissions on vessel documents and certificates issued on its behalf by the classification societies."The RMI Registry will continue to provide its clients with a transparent pricing structure for the issuance of key certificates needed by shipowners," it said in a statement.Bill Gallagher, President of IRI, which provides administrative and technical support to the RMI Registry, said, "Over the past days, we have had discussions with several of the major classification societies concerning flag state surcharges on the issuance of class documents and statutory certificates.

EuroDry Gets Refinance, Expands Fleet

Pic: EuroDry

EuroDry announced that it has completed the refinancing of the debt of M/V Alexandros P, a 62,000 dwt ultramax drybulk vessel built in 2017.The owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes said in a press release that the new loan facility of $15 million was used to repay the previous loan facility with an outstanding balance of $9.9 million and provide additional liquidity to the Company.The new loan will have a maturity of…

Marshall Islands Confirms No Class Certificate Surcharge

International Registries offices across the world. Map: International Registries, Inc.

International Registries, Inc. and its affiliates (IRI) has announced that the Republic of the Marshall Islands (RMI) Registry will not follow competitors by levying surcharges and commissions on vessel documents and certificates issued on its behalf by the Classification Societies.The RMI Registry will continue to provide its clients with a transparent pricing structure for the issuance of key certificates needed by shipowners.Bill Gallagher, President of IRI, which provides administrative and technical support to the RMI Registry…

Mariner Training in Brazil: Inside the Institute of Nautical Sciences

SIMNAV bridge simulator. Image: ICN

For a long time there has been a deficit of trained maritime officers in Brazil, as for decades the only accredited training institutes were run by the Brazilian Navy, where a very limited number of prospective maritime deck and engine officers could be trained at its two training institutes in the country. That's all changing now with the Institute of Nautical Sciences (ICN) leading the way.With the discovery of the pre-salt in 2007 and the continued growth of the maritime and offshore sectors, the lack of qualified Brazilian officers became acute.

Global Ship Lease Bags New Time Charter with Maersk Line

File Image: Global Ship Lease

Global Ship Lease announced a new time charter with Maersk Line for the 2004-built, 8,063 TEU containership OOCL Ningbo, which has been renamed GSL Ningbo, following her redelivery by OOCL on September 17, 2018.The containership charter owner said in a press release that the vessel will be chartered, commencing on or around September 21, 2018, for a period of between two and 12 months, with a subsequent option for an additional 12-month extension (at charterer’s option).During the first three months…

IMO for Protecting Oceans and High Seas

Image: International Maritime Organization (IMO)

Ships plying their trade across the world’s oceans are subject to stringent environmental, safety and security rules, which apply throughout their voyage. The comprehensive regulatory framework developed by International Maritime Organization (IMO) for international shipping has been highlighted during a United Nations oceans conference in New York, United States (4-17 September).A press release from IMO said that  the conference is taking the first steps towards developing a…

ICS-UN Negotiation on Future Ocean Governance

Image: United Nations

International Chamber of Shipping (ICS) is representing shipowners at the start of a major negotiation to agree a new legal instrument for the protection of the ocean under the UN Convention on the Law of the Sea (UNCLOS) – which will apply to ‘high seas’ areas ‘beyond national jurisdiction’.Addressing government negotiators in New York today (5 September), ICS Chairman, Esben Poulsson, highlighted the need to ensure that this UN initiative will not “unwittingly” impact on the effective future governance of global shipping…

NAPA Brings Digital Logbooks Within Reach of More Ships

 Image: NAPA

NAPA, the maritime software, services and data analysis provider announced that its industry-benchmark electronic logbook, NAPA Logbook, is now available as a monthly service solution.According to media release, this reduced barrier to entry will bring the connectivity and job automation benefits of digital logbooks to more of the maritime market. NAPA Logbook will also be one of the first integrations with NAPA Mobile, enabling support for smartphone logbook entries wherever the crew are onboard.As the world’s leading provider of electronic logbooks…

Euronav sells Suezmax Cap Romuald

Photo: Euronav

Euronav NV announced that the Company has sold the Suezmax Cap Romuald (1998 – 146,640 dwt) for USD 10.6 million.The vessel was delivered to her new owners on 22 August. The Company will record a capital gain of approximately USD 9 million in the current quarter.The sale of the Cap Romuald is part of a fleet rejuvenation program. Together with the sale Euronav is taking in operation four new Suezmax vessels, of which three (Cap Pembroke, Cap Quebec and Cap Port Arthur) have already been delivered…

Bollinger Delivers USCGC Robert Ward

USCGC Robert Ward in Key West, Fla. (Photo: Bollinger Shipyards)

The U.S. Coast Guard on Tuesday took delivery of the 30th Fast Response Cutter (FRC), USCGC Robert Ward, in Key West, Fla.The 154-foot patrol craft, built by Louisiana shipbuilder Bollinger Shipyards based on the Damen Stan Patrol Boat 4708 design, is the 30th vessel in the Coast Guard's Sentinel-class FRC program. USCGC Robert Ward is scheduled to be commissioned in California in February 2019. It will be the second of four FRC’s to be stationed in San Pedro, Calif.“Previous cutters have been stationed around the nation including Alaska and Hawaii…

Norton Rose Fulbright, Citibank on USD 2.2bln Danaos Corp Restructuring

Photo: Danaos Corporation

Global law firm Norton Rose Fulbright has advised Citigroup and other lenders of Danaos on a $2.2 billion restructuring of NYSE-listed Danaos Corp (DAC), one of the world’s largest independent owners of modern, large-size containerships.Norton Rose Fulbright’s Athens, London and New York offices advised Citigroup and certain other lenders (including China Exim Bank and Eurobank) on new money, take out and refinancing facilities, restructuring support agreements, debt for equity arrangements…

WFW Advises CMBFL on Sale, Leaseback of 15 Dry Bulker

Image: Watson Farley & Williams

Watson Farley & Williams (WFW) has advised CMB Financial Leasing (CMBFL) on a US$180.4m sale and leaseback transaction with Star Bulk Carriers Corp, a Nasdaq-listed global shipping company providing worldwide seaborne transportation of dry bulk cargoes.The funds obtained by Star Bulk under this new five-year capital lease of US$180.4m entered into with CMBFL were used to part-finance the cash portion of the consideration with regards to Star Bulk’s acquisition of 15 dry bulk vessels from Norwegian shipowner Songa Bulk ASA.Founded in 2008…

RMI Registry Establishes Worldwide Gas Team

© vladsv / Adobe Stock

The world's second largest ship registry said it is looking to advance its position as the largest registry of gas carriers and expand its footprint in the transportation and processing of liquefied gases with the formation of a dedicated gas experts team.The Republic of the Marshall Islands (RMI) Registry said its new Worldwide Gas Team is comprised of experts in the design, technical management, inspection and commercial operation of gas carriers. The group is able to provide guidance from inspection and registration to technical issues and regulatory challenges…

Liberia Becomes Fastest Growing Flag in Shipping

Image:  Liberian Registry

Liberia is the fastest growing major open registry in 2018 in both the shipping and offshore sectors, according to shipping services provider Clarksons in its Clarksons World Fleet Monitor June 2018.Alfonso Castillero, CCO of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, said: “I am delighted to see that Liberia continues to be the leading flag in 2018. It has grown by 2.2 percent in terms of gross tonnage overall so far this year…

Star Bulk Carriers Lists on the Oslo Stock Exchange

Photo: Star Bulk Carriers Corp

The global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector Star Bulk Carriers Corp will commence trading on the Oslo Stock Exchange under the ticker “SBLK R” starting on Monday July 16, 2018. The ship manager of seaborne transportation announced on July 6 2018 that it had closed the acquisition of 15 operating dry bulk vessels from Songa Bulk for an aggregate of 13.725 million common shares of Star Bulk and $145.0 million in cash.

Global Ship Lease Adds 2,800 TEU Containership

Image: Global Ship Lease

Global Ship Lease, a containership charter owner, announced that the Company has taken delivery of a 2005-built, 2,800 TEU containership, now named GSL Valerie. Shortly after delivery, and as agreed at the time the Company contracted to purchase the vessel, GSL Valerie will commence charter employment with CMA CGM for a period of 12 months at a fixed rate of $9,000 per day. The Company’s fleet now comprises 19 vessels with a total capacity of 85,112 TEU. Ian Webber, Chief Executive Officer of Global Ship Lease…

Maritime Reporter Magazine Cover Dec 2018 - Great Ships of 2018

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News