Monaco News

Monaco-based liquefied natural gas (LNG) shipper GasLog Ltd signed a new long-term charter deal with a unit of the Spanish utility company Endesa for its newbuild vessel, the GasLog Warsaw.The International owner and operator of LNG carriers said that it is scheduled to take delivery of the 180,000 cubic meter Mark III Flex Plus vessel with low pressure two stroke propulsion (LP-2S) from Samsung Heavy Industries in July 2019. The eight year fixed-term charter to Endesa will commence in May 2021.Paul Wogan…

Monaco-headquarters Dynagas LNG Partners said that it had estimated contracted time charter coverage for 98% of its fleet estimated available days for 2019, 100% of its fleet estimated Available Days for 2020 and 92% of its fleet estimated Available Days for 2021.As of March 21, 2019, the Partnership’s contracted revenue backlog estimate  was $1.38 billion, with an average remaining contract term of 9.5 years, the Liquefied Natural Gas (LNG) maritime transportation company said.

Italian yacht builder Columbus Yachts (part of Palumbo Superyachts) launched its current flagship Dragon - the new 80-meter Columbus Classic - in Ancona.Dragon is set to become the largest vessel ever built by Columbus Yachts, featuring impressive interior volume of over 2,100 GT spread over six decks.The vessel with exterior and naval architecture by Hydro Tec and interior by Francesco Guida Design is to be delivered later this year.Dragon joins the Columbus’ outstanding fleet of superyachts like award-winning Sport Hybrid 40 M/Y Divine and M/Y Eleonora 3…

Alexander Hansson, residing in Monaco, has bought 25,000 shares in NAT for his private holdings. The shares were purchased in the open market at a price of $2.04 per share.On Tuesday March 5, Alexander Hansson bought 25,000 shares at a price of $2.11.  Last week, he bought 25,000 shares at $2.22, 100,000 shares at $2.31 and 50,000 shares at $2.27 in the open market.Alexander Hansson is the son of the NAT Chairman & CEO, and as such an affiliated party.

UAE builder Gulf Craft announced that the 54-metre concept Majesty 175 is currently being constructed by UAE builder Gulf Craft at the company’s Umm Al Quwain facility, with her delivery scheduled to the end of 2019.The completion process of the largest yacht “Made in UAE”, is going at a fast pace, said the manufacturer of luxury yachts and fiberglass boats."Originally introduced to the public during the Monaco Yacht Show in 2016, the 54 metres flagship is being built completely at the advanced facility in Umm Al Quwain.

Singapore-based Sembcorp Marine (Sembmarine) secured new contracts worth $175m, for projects comprising the design and construction of a 12,000-cubic-metre (cbm) LNG bunker vessel as well as repair and modernisation works on 13 cruise ships.The LNG bunker vessel which is for delivery to Mitsui OSK Lines (MOL) in 2021 will be constructed at Sembcorp Marine Tuas Boulevard Yard, said the company specialising in a full spectrum of integrated solutions in ship repair, shipbuilding…

Heesen has unveiled the latest yacht in the 55m Steel class, YN 18455. The YN 18455, now christened Vida and formerly known as Project Antares.Launched earlier this year on January 4, Vida is now entering the systems commissioning phase and is getting ready for sea trials.Vida is the third in the successful 55m FDHF Steel class, which features muscular exterior lines by Frank Laupman of Omega Architects. The profile is clean thanks to the absence of fashion plates and the design…

Monaco-based seaborne shipping company Navios Maritime Containers  announced the appointment of Stefan Kuch and Vasilios Mouyis to its Board of Directors.The owner and operator of container ships informed that Kuch has over 32 years of experience in finance and ship finance, having served in senior leadership positions in the shipping division of Commerzbank AG, one of Germany’s leading financial institutions.He also served as Managing Director of Hanseatic Ship Asset Management GmbH, a vessel-owning company within the Commerzbank Group.

International Maritime Organization (IMO) Secretary-General Kitack Lim has called for Member States and the entire maritime sector including shipping and ports, to come on board to achieve the ambitions set out in the historic IMO initial strategy for reducing greenhouse gas emissions from international shipping, adopted last year.The UN body said that the strategy makes a firm commitment to a complete phase out of GHG emissions from ships, a specific linkage to the Paris Agreement and a series of clear levels of ambition…

Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a stock exchange announcement that China’s LNG imports increased by approximately 16 mtpa, or 41%, to 54 mtpa in 2018, driven mainly by continued coal-to-gas switching in the industrial, commercial and residential sectors.South Korea, Pakistan, Thailand and Mexico also experienced strong growth in LNG imports during 2018.

Monaco-based container shipping company Navios Maritime Containers has exercised an option to acquire a 2011-built 10,000 TEU containership from an unrelated third party for a purchase price of $52.5 million.The containership is chartered out at a net rate of $26,325 per day until November 2020 and $27,300 per day until October 2021, and is expected to be delivered in the first quarter of 2019.Navios Containers also entered into an agreement where it has the option to acquire one 2011-built 10…

French cargo and cruise port Marseille Fos had a relatively stable year in 2018 with traffic of more than 81 million tonnes, up 1%.The performances included a seventh consecutive year of growth in container traffic, which rose 2% for 1.4 million teu, and a 12% increase in dry bulks at 15.2MT. Meanwhile cruise numbers leapt 15% to 1.7 million passengers.Infrastructure development and maintenance spending of €60 million featured further logistics park expansion. Alongside this, agreements were reached on major industrial implantations.

Monaco-based seaborne shipping company Navios Maritime Containers has acquired a 2011-built containership from an unrelated party for USD 52.5 million.The containership is expected to be delivered into Navios Containers’ fleet in Q1 2019 and is chartered out at a net rate of  $26,325 per day until November 2020 and thereafter  $27,300 per day until October 2021. The containership is expected to generate approximately $9.5 million of revenue and $6.5 million of EBITDA(1) in the…

While the task to name only five 'Top' yachts of the year, Maritime Reporter & Engineering News' Lisa Overing gives it her best shot in the January 2019 edition.M/Y TIS: “Size Matters”The age-old question of whether or not size matters is typically directed at men. However, since a ship is called she, Maritime Reporter’s top spot for greatest yacht of 2018 is the class of 2018’s largest launch, M/Y TIS, a 111-meter, six-deck superyacht by Lürssen with exterior styling and interior design by Winch Design.In spite of her massive size…

The Monaco-based international owner, operator and manager of liquefied natural gas (LNG) carriers, GasLog Ltd said that two 180,000 cubic meter LNG carriers with low pressure two stroke (LP-2S) propulsion and GTT Mark III Flex Plus cargo containment systems have been ordered from Samsung Heavy Industries (SHI) in South Korea.The newbuilding ordered to fulfil the Charters Gaslog signed with the wholly owned subsidiary of Cheniere Energy, Inc each for a firm period of seven years.Gaslog…

NOBISKRUG’s Project 790 is one of the first yachts built under the new strict IMO Tier III emissions regulations. The name and visionary design of the 80-meter hybrid superyacht was unveiled at the Monaco Yacht Show 2018: MV ARTEFACT.Less than a year away from completion, Nobiskrug’s new superyacht MV ARTEFACT will be one of the first yachts built under the new IMO Tier III low emissions regulations with an array of first-of-their-kind technology features and engineering advances…

Singapore-based shipbuilder Sembcorp Marine cemented its position as Asia’s top cruise ship repair and upgrade solutions provider in 2018 with the successful completion of repairs on the Costa Fortuna – the Group’s 10th and final cruise ship project this year.Operated by Costa Crociere, the 1,358-cabin vessel sailed away from Sembcorp Marine’s Admiralty Yard yesterday, joining a bevy of luxury liners that underwent repairs and upgrades at Sembcorp Marine facilities in the past 12 months.These included six vessels from leading cruise brands and long-term partners Carnival Cruises…

For experts in the field of ocean mapping it is no small irony that we know more about the surfaces of the Moon and Mars than we do about our planet's sea floor."Can you imagine operating on the land without a map, or doing anything without a map?" asked Larry Mayer, director of the U.S.-based Center for Coastal and Ocean Mapping, a research body that trains hydrographers and develops tools for mapping."We depend on having that knowledge of what's around us - and the same is true for the ocean…

Monaco-based owner and operator of liquefied natural gas (LNG) carriers, reported a third-quarter ended September 30, 2018 loss of $654,000, after reporting a profit in the same period a year earlier.The gas shipping company said that the Q3 results included $2.3 million of scheduled class survey and dry-docking costs related to the Yenisei River, one of the three tri-fuel diesel engine (TFDE) vessels in our fleet.The company said it had a loss of 7 cents per share. Earnings, adjusted for non-recurring costs, were 4 cents per share.

Response plans are essential to ensure reliable national and sub-regional systems for preparedness and response, trained personnel, basic equipment and contingency plans for combating marine pollution incidents.The Regional Marine Pollution Emergency Response Centre for the Mediterranean Sea (REMPEC) , the International Maritime Organization (IMO) -administered pollution emergency response centre in the Mediterranean, facilitated the organization of a meeting of national authorities…

Monaco-based dry bulk shipping company Scorpio Bulkers has announced that it will purchase exhaust gas cleanings systems for 42 of its vessels in 2019 and for 10 of its vessels in 2020."As part of our previously announced program to install exhaust gas cleaning systems (EGCS) across our fleet, we have entered into an agreement with third parties to purchase exhaust gas cleanings systems for 42 of its vessels in 2019 and for 10 of its vessels in 2020," said a press release from…

Pacific Green Marine Technologies (PGMT) will manufacture its  ENVI-Marine Exhaust Gas Scrubbing System (EGSS) for 52 vessels owned or managed Scorpio Tankers.Two days ago, Monaco-based dry bulk shipping company Scorpio Bulkers announced that it will purchase exhaust gas cleanings systems for 52 of its vessels. (Marine Link report) The provider of  a wide range of emission control systems for ships owned by Pacific Green Technologies Inc. (PGTK)  said in a press release that the agreements provide for 42 vessels in 2019 and 10 vessels in 2020.

Monaco-based container shipping company Navios Maritime Containers  announced that it agreed to acquire two 2010-built, 4,360 TEU containerships for $23.6 million from an unrelated third party.The two containerships are expected to be delivered in the fourth quarter of 2018, said the vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commoditiesNavios Containers also agreed to acquire two 2011-built 10,000 TEU containerships from an unrelated third party for a purchase price of approximately $52.5 million each…