Star Bulk Carriers Lists on the Oslo Stock Exchange
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
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…
Ailing Tanker Crewmember Medevaced
The U.S. Coast Guard medevaced a 59-year-old crew member from an asphalt/bitumen tanker near Dauphin Island, Ala., Sunday.Coast Guard watchstanders in Mobile, Ala. received a notification at 10:38 p.m. Sunday from the master of the motor vessel Marshall Islands flagged Asphalt Sailor about a Russian crewmember who was reported to be experiencing symptoms of heart arrhythmia.The Coast Guard launched a Response Boat-Medium boatcrew from Station Dauphin Island to medevac the ailing…
WFW Advises CMBFL on Sale, Leaseback of 15 Dry Bulker
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…
Liberia Becomes Fastest Growing Flag in Shipping
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…
RMI Registry Establishes Worldwide Gas Team
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…
Euroseas Completes EuroDry Spinoff
Euroseas announced that it has completed the spin-off of its drybulk fleet into EuroDry Ltd. Euroseas shareholders received one EuroDry Ltd share for every five shares of the Company they owned. Aristides Pittas, Chairman and CEO of Euroseas, commented: "We are very pleased to complete the spin-off of our drybulk fleet into a separate publicly listed company, EuroDry Ltd. Euroseas now becomes a pure containership company, the only US-listed containership owner focused on the feeder sector. EuroDry was formed on January 8, 2018 under the laws of the Republic of the Marshall Islands.
Marshall Islands to Address Shipping Safety Concerns
The Republic of the Marshall Islands (RMI) has submitted a paper to the International Maritime Organization (IMO) Intersessional Working Group (ISWG) on the consistent implementation of the 2020 global fuel oil sulphur standard under MARPOL Annex VI. The submission, which was co-sponsored by the Republic of Liberia, the Baltic and International Maritime Council (BIMCO), the International Chamber of Shipping (ICS), the International Association of Dry Cargo Shipowners (INTERCARGO)…
Tanker Refloated in St. Lawrence Seaway
A 17,000 dwt product tanker that ran aground in the St. Lawrence Seaway last week has been refloated and pulled free from the edge of the waterway.The Marshall Islands flagged Chem Norma was refloated Sunday after running aground near Morrisburg, Ontario last Tuesday. The St. Lawrence Seaway Management Corporation (SLSMC) said the ship is undergoing an inspection process to ensure that it is ready to resume its transit.The 145-meter Chem Norma, carrying refined petroleum products, went aground at 4:09 AM on Tuesday, May 29, due to an issue with its rudder.
NTSB Issues Report on 2016 Columbia River Bulker Grounding
The National Transportation Safety Board (NTSB) issued a report on its investigation into the November 2016 grounding of the bulk carrier Nenita in the Columbia River. The Marshall Islands-flagged vessel was fully laden when it suffered an engine failure that impacted its ability to maneuver and subsequently ran aground at Three Tree Point on the Washington State side of the river. The ship’s bulbous bow and hull were damaged, but no injuries or pollution were reported. The vessel was towed to Longview, Wash.
Global Ship Lease Extends Charter with OOCL
Global Ship Lease, a containership charter owner, today announced that it has agreed to an extension of its charter with OOCL for the OOCL Qingdao, a 2004-built, 8,063 TEU containership. The extension commences in direct continuation of the current charter with effect from March 11, 2018, at a fixed rate of $14,000 per day. Earliest redelivery is now January 1, 2019, with latest redelivery March 15, 2019 (at charterer's option). Global Ship Lease is a containership charter owner.
Tokyo MOU: Concentrated Inspection Campaign On Safety Of Navigation
The concentrated inspection campaign (CIC) on safety of navigation was carried out in the Tokyo MoU region from 1 September 2017 to 30 November 2017. Within the campaign, Tokyo MOU member Authorities verified vital points of compliance in accordance with SOLAS Ch. V on all types of foreign merchant ships. During the CIC, member Authorities inspected a total of 6,720 vessels, of which 36 (0.54%) were detained as a direct result of the campaign. In total 157 (2.34%) ships were detained during the campaign.
MES Delivers 66,000 DWT Bulk Carrier
Japanese shipbuilder Mitsui Engineering & Shipbuilding Co., Ltd. (MES) said it has completed and delivered a 66,000 dwt bulk carrier to owner Ostria Marine Co. The newbuild, M.V. Christina, was delivered at the builder's Tamano Works on March 15, 2018. The vessel has four cranes and five cargo holds, with more than 82,800 cubic meters cargo capacity. The ship’s main engine, a MITSUI-MAN B&W 7S50ME-B9.3 diesel engine, complies with MARPOL NOx restriction (Tier-II) for exhaust gas emissions. The ship has low sulfur fuel oil tanks, which are designed for operation in Emission Control Areas (ECA). Service Speed: abt.
Mitsui Delivers Bulker to Ostria Marine
Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 66,000 dwt type bulk carrier M.V. "CHRISTINA" (MES Hull No.1919) at its Tamano Works on 15th March, 2018 to Ostria Marine Co., Marshall Islands. This is the 16th ship of our "neo66BC", the "wide beam shallow draft vessel" of our line-up “neo series”. Service Speed abt. * The vessel has four (4) cranes and five (5) cargo holds, and keeps the superior usability of our 56BC. * The vessel is designed to have enough deadweight more than 66…
CNCo, SPREP Ink Recycling MOU for Pacific Islands
The China Navigation Company (CNCo) and the Secretariat of the Pacific Regional Environment (SPREP) have today signed a memorandum of understanding (MOU) to address critical waste management issues in the Pacific islands. Known as the “Moana Taka Partnership”, this MOU allows for CNCo vessels to carry containers of recyclable waste from eligible Pacific island ports, pro bono, to be sustainably treated and recycled in suitable ports in Asia Pacific. “This historic partnership will be of great benefit to our Pacific islands…
UN Blacklists Dozens over North Korean Smuggling at Sea
The United Nations Security Council blacklisted dozens of ships and shipping companies on Friday over oil and coal smuggling by North Korea, boosting pressure on Pyongyang as leader Kim Jong Un plans to meet with his South Korean and U.S. counterparts. The council's North Korea sanctions committee acted on a request by the United States, designating 21 shipping companies -- including five based in China -- 15 North Korean ships, 12 non-North Korean ships and a Taiwanese man. The…
TI Blames IMO’s Weak Governance on Climate Change Action
Weak governance at the International Maritime Organization (IMO) is delaying the shipping sector’s action on climate change, according to Transparency International. IMO is at risk of unresolved conflicts of interest due to shortcomings in its governance, according to preliminary key findings of a new study by Transparency International. Private shipping-industry concerns could have undue influence over the policymaking process at the IMO, concluded the anti-corruption organisation.
Pacific Calls For Decarbonising Shipping By 2050
In a comprehensive analysis of what is needed to decarbonise international shipping by 2035, the report recommends setting a clear, ambitious emissions-reduction target to drive decarbonisation of maritime transport, supporting the realization of emissions-reduction targets with a comprehensive set of policy measures and providing smart financial incentives to advance the decarbonisation of maritime shipping. “The OECD report, closely followed by the call of the European Shippers Association for a target of decarbonisation by 2035…
IMO Under Pressure to Tackle CO2 Emissions
The United Nations' shipping agency is under pressure this week to agree on a plan to cut carbon emissions from the sector, following years of slow progress, but the strategy could fall well short of what is required to limit global warming. The shipping sector, along with aviation, avoided specific emissions cut targets in a global climate pact agreed at the end of 2015, which aims to limit a global average rise in temperature to "well below" 2 degrees Celsius from 2020. Shipping accounts for 2.2 percent of world CO2 emissions…
Season’s First Saltie Heads for Duluth-Superior
The first ‘saltie’ of the 2018 commercial navigation season is on its way to the Port of Duluth-Superior. The 656-foot bulk carrier Federal Weser is scheduled to pass beneath Duluth’s Aerial Lift Bridge by 10 p.m. tonight and is expected to start loading Monday morning at the CHS terminal on the Superior side of the harbor. If all goes according to plan, the ship should depart late Tuesday or Wednesday with 21,400 metric tons of durum wheat bound for Algeria. The Federal Weser, part of the Fednav fleet, last visited the Twin Ports in 2015.
IMO Reaches Deal to Cut CO2 Emissions
The United Nations shipping agency reached an agreement on Friday to cut carbon emissions, following years of slow progress. The compromise plan, which will cut emissions by at least 50 percent by 2050 compared with 2008 levels, fell short of more ambitious targets. Kitack Lim, Secretary-General of the International Maritime Organization (IMO), said the adoption of the strategy "would allow future IMO work on climate change to be rooted in a solid basis". The IMO said it would also be pursuing efforts towards phasing out CO2 emissions entirely.
Euronav Secures Loan for Four Ice-class Suezmaxes
Tanker shipping company Euronav has secured a loan facility providing financing for four ice-class suezmax newbuildings under construction by Hyundai Samho Heavy Industries Co., Ltd., two of which have recently been delivered with the remaining two scheduled for delivery later in 2018.Watson Farley & Williams LLP (WFW) said it acted for Crédit Agricole Corporate & Investment Bank in relation to a $173.5 million loan facility for Euronav NV signed on March 22, 2018. The commercial lenders were Crédit Agricole Corporate & Investment Bank…
Women Empowerment in Pacific Maritime
Women in maritime are a key contributor to the maritime transport sector. This was the message of Helen Buni from International Maritime Organization (IMO)'s gender programme as she opened the second regional conference for Pacific Women in Maritime held in Port Moresby, Papua New Guinea, (26–28 April). The conference highlighted the significant progress made by the women in maritime association (WIMA) in the Pacific to integrate more women into the industry. The event reaffirmed…