Marshall Islands News

22 Mar 2019

Bollinger Delivers 33rd FRC to USCG

USCG Joseph Doyle in Key West, FL (CREDIT: Bollinger)

Bollinger Shipyards has delivered the USCGC JOSEPH DOYLE, the 33rd Fast Response Cutter (FRC) to the U.S. Coast Guard. The Coast Guard took delivery on the 21st of March, 2019 in Key West, Florida. The 154-foot Sentinel-class Fast Response Cutter 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.

18 Mar 2019

GSL Extends Hapag-Lloyd Charter

Pic: Global Ship Lease

Marshall Islands-incorporated  containership charter owner Global Ship Lease (GSL) has agreed a three-year charter with Hapag-Lloyd for the 2015-built, 9,115 TEU containership UASC Al Khor.The new charter is in direct continuation of the current charter and is expected to commence in June, 2019, with re-delivery in the second quarter 2022, said the owner of containerships with a diversified fleet of mid-sized and smaller containerships.The charter is expected to generate approximately $28 million of Adjusted EBITDA.Ian Webber…

11 Mar 2019

GAC Handles First Tanker at New LNG Terminal

Marshall Islands-flagged LNG carrier ‘LNG/C Golar Snow’  (Photo: GAC Group)

GAC has handled the first tanker to berth at the newly constructed Liquefied Natural Gas (LNG) terminal inside Kamarajar Port, Ennore in Chennai, India. The Marshall Islands-flagged LNG carrier ‘LNG/C Golar Snow’ was carrying the first consignment of 78,037m³ of LNG from Ras Laffan in Qatar for the commissioning of the terminal.Agency operations were overseen by Captain Srinivasan Sethumadhavan, General Manager of Shipping Services at GAC’s Chennai Office, who is optimistic about…

01 Feb 2019

Product Tanker Market Looks Up

Image: Capital Product Partners L.P.

The product tanker market registered a robust recovery in the fourth quarter of 2018, partially reversing the downward trend observed in the first nine months of the year, said Capital Product Partners.The Marshall Islands' tanker company said in a stock exchange annoucement that the beginning of the quarter was weak in line with the previous quarters, as rates hovered close to historically low levels, but the market gained momentum from early November onwards.In the West, the…

28 Jan 2019

Liberia Confirmed as World’s Second-largest Ship Registry

Alfonso Castillero  (Photo: LISCR)

Liberia is the second largest ship registry in the world, according to leading shipping analyst Clarksons in its Clarksons World Fleet Monitor January 2019. This report confirms that, in gross tonnage terms, Liberia has overtaken and outgrown the Marshall Islands, which now languishes in third place.Alfonso Castillero, CCO of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, says, “This is about quality of service, not…

21 Jan 2019

Asahi MOL Tankers Established

Pic: Mitsui O.S.K. Lines

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…

21 Jan 2019

Hafnia/BW Tankers Create Product Tanker Giant

Pic: BW Group

The merger of BW Tankers with Hafnia Tankers is being operationalized creating one of the world’s largest owners and operators of product tankers.The merged company owns and operates a fleet consisting of approximately 100 product tankers, four newbuildings and three product tanker pools, managed by Hafnia Management and Straits Tankers with vessels in the LR2, LR1, MR and SR segments.BW Tankers will be the surviving legal entity, but it will change its name to Hafnia, said company sources."All the conditions for the Merger have been fulfilled…

17 Jan 2019

Seacor Marine Acquires Three Cosco PSVs

Image: DNV GL

The offshore marine support vessels operator Seacor Marine Holdings announced it has entered into definitive agreements to acquire three platform supply vessels (PSVs) from Cosco Shipping Heavy Industry, an affiliate of Cosco Shipping Group, the world’s largest ship owner.Aggregate consideration for the vessels will be approximately $46 million, of which 30% will be paid in cash and 70% will be paid under a four-year deferred payment agreement between Seacor   Marine and Cosco…

04 Jan 2019

Coast Guard, Marshall Islands Respond to Grounded Fish Carrier

(U.S. Coast Guard photo by HC-130 Hercules 1720/Released)

The U.S. Coast Guard today released these images of the stricken vessel.A Coast Guard HC-130 Hercules aircrew flies over the 308-foot Chinese-flagged commercial fish carrier Ou Ya Leng No. 6 on Taka Atoll in the Marshall Islands, Jan. 3, 2019 MHT.Two fishing vessels are en route and expected to arrive Thursday. The Republic of the Marshall Islands has also dispatched their patrol vessel Lomor to respond.The vessel is reportedly a fish carrier targeting squid in the Western and…

03 Jan 2019

Fishing Vessel Aground in the Marshall Islands

The 308-foot Chinese-flagged commercial fishing carrier Ou Ya Leng No. 6 is aground off the Marshall Islands (CREDIT: USCG)

The U.S. Coast Guard response continues to the grounding of the 308-foot Chinese-flagged commercial fishing carrier Ou Ya Leng No. 6 on Taka Atoll in the Marshall Islands, Wednesday.A Coast Guard HC-130 Hercules crew arrived and made contact with the mariners who remain aboard the vessel and are awaiting rescue.Initial reports from MRCC China stated the crew abandoned ship and were on the atoll, but upon arrival, the Hercules crew confirmed they are aboard the vessel and using emergency generator power.

18 Dec 2018

French Frigate Shoals: A Canary in the Coal Mine

© cartoonresource/Adobe Stock

French Frigate Shoals are located in the northwestern Hawaiian Islands, between Kauai and Midway. The atoll consists of a twenty-mile long crescent-shaped reef, with 13 coral and sand islands and the 120-foot high volcanic rock Perouse Pinnacle, named for French explorer Jean-Francois de la Perouse, who charted the atoll in 1786 and nearly grounded his two frigates. Tern Island is the largest, covering 105,276 square meters or 26 acres. Second largest is (or was) East Island, with 35…

20 Nov 2018

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…

13 Nov 2018

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…

15 Nov 2018

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…

15 Oct 2018

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…

14 Nov 2018

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…

11 Oct 2018

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…

21 Sep 2018

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.

22 Oct 2018

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.

23 Oct 2018

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…

20 Sep 2018

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…

26 Oct 2018

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.

30 Oct 2018

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…

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