GasLog Relocates People and Office

Monaco-based international owner, operator and manager of liquefied natural gas (LNG) carriers GasLog has announced plans to relocate more of its people and most of the senior management to the Piraeus, Greece office, home of its operational platform.As a result, GasLog will close the Monaco office, whilst the London office will focus primarily on chartering activities and company secretarial duties. The offices in Singapore, Korea and the US will be unaffected by the changes.GasLog CEOâŚ
NMAC Acquires 5 Product Tankers

Navios Maritime Acquisition Corporation (NMAC), a Greece owner and operator of tanker vessels, announced the agreement to acquire five product tankers in liquidation of Navios Europe I Inc.On November 22, 2019, an agreement was reached to liquidate Navios Europe I. As of September 30, 2019, Navios Acquisition had a receivable of $32.3 million from Navios Europe I. This receivable along with debt financing will be used to finance the Acquisition. The agreement is subject to definitiveâŚ
Savona's Cruise Terminal Renovated

Costa Cruises and the Western Ligurian Sea Port Authority have reopened the Calata delle Vele cruise ship quay and Palocrociere Terminal One in Italyâs port of Savona following an extensive renovation.The ceremony was attended by the city's mayor, Ilaria Caprioglio, the Liguria Region president, Giovanni Toti, the president of the Western Ligurian Sea Port Authority, Paolo Emilio Signorini, and the president of Costa Cruises Neil Palomba. In keeping with tradition, the ceremony was also blessed by Mons.
IMO Training on Fouling

Mediterranean countries underwent International Maritime Organization (IMO) training on the impacts of anti-fouling systems and shipsâ biofouling on the marine environment at a workshop in Valletta, Malta (12-14 November).The event raised awareness of IMOâs Anti-Fouling Systems (AFS) Convention and Biofouling Guidelines â what it means to implement them, and, in the case of the AFS Convention, the requirements and benefits of ratification and enforcement.Biofouling is the build-up of aquatic organisms on a shipâs underwater hull and structures.
Scorpio Completes Aquisition of 19 Tankers

Scorpio Tankers, the international provider in the transportation for refined petroleum products, announced that it has completed acquisition of the leasehold interests in 19 product tankers.The Monaco-headquarters acquired subsidiaries of Trafigura, which have leasehold interests in 19 product tankers under bareboat charter agreements with subsidiaries of an international financial institution for aggregate consideration of $803 million on September 26, 2019.Of the 19 vesselsâŚ
Scorpio Buys 19 Tankers from Trafigura

Monaco-based petroleum products shipping firm Scorpio Tankers has signed a deal to acquire 19 product tankers from Trafigura Maritime Logistics for around $803 million.The acquisition of the leasehold interest in the vessels includes a finance lease arrangement with a financial institution under a bareboat contract arrangement.According to the arrangement, Scorpio Tankers will acquire Trafigura Maritime Logisticsâ subsidiaries that have leasehold interests in 19 product tankers.The aggregate value of the vessels is $803 millionâŚ
Dynagas LNG Secures $675Mln Loan

Dynagas LNG Partners LP, an international owner and operator of liquefied natural gas (LNG) carriers, announced it has secured a $675 million syndicated loan from leading international banks.The credit facility will be secured by mortgages on the partnershipâs entire fleet of six LNG carriers, the Monaco-headquartered company said.This move is expected to help the company eliminate its existing dept of totaling $720 million.Tony Lauritzen, Chief Executive Officer, Dynagas LNG Partners said: "We are pleased to enter into this transformative re-financing.
Safe Bulkers Slips to Q2 Loss

Monaco-headquartered provider of marine drybulk transportation services Safe Bulkers reported a net loss for the second quarter, contrary to the marketâs expectations for profit.The net revenue at USD 45.5 million for Q2 was hurt by a 3% decline from the second quarter of 2018. For the second quarter, Safe Bulkers reported an adjusted loss of $0.01 per share, compared to earnings of $0.02 per share in the same period of last year.Dr. Loukas Barmparis, President of the Company, said: âIn the first half of 2019 the charter market was weak.
Seven Vessels Added to CTM's RSA

C Transport Maritime (CTM), the vessel management company in the dry cargo ocean transport industry, announced that four of its current members have added seven more vessels to the Supramax Revenue Sharing Agreement (RSA) in July and August 2019.According to the Monaco-based provider of ship management service, Chandris (Hellas) added the M/V Serene Juniper (57,185 dwt, 2011 built at STX Dalian).DâAmico Group added the M/V Medi Hakata (58,078 dwt, 2014 built at Shin Kurushima)âŚ
DHT Holdings Bags 3-Year Time Charter

Bermuda-based crude oil tanker company announced that it has entered into a three year time charter with a leading refining company for one of its 2012 built very large crude carriers (VLCC).The charter will commence after the vessel completes a scrubber retrofit in the fourth quarter of this year, said the New York-traded company.The time charter has a base rate of $30,000 per day with all earnings up to $37,500 to DHT following a profit sharing structure that includes scrubberâŚ
GasLog Adds New LNGC from SHI

Monaco-based shipowner GasLog has taken delivery of the 180,000-m3 GasLog Warsaw liquefied natural gas carrier (LNGC) from South Koreaâs Samsung Heavy Industries (SHI) on July 31.GasLog Warsaw is the first 180,000 cbm LNG tanker delivered to the company by SHI. The shipbuilder has a further seven units for GasLog on order.GasLog Warsaw is a 180,000 cubic meter (cbm) Mark III Flex Plus carrier with low pressure dual fuel two-stroke (X-DF) propulsion.The vessel was immediately deliveredâŚ
Global LNG Demand 16% Up in Q2

Global liquefied natural gas (LNG) demand was 86 million tonnes (mt) in the second quarter, compared with 74 mt in the second quarter of 2018, an increase of 16%, said GasLog Ltd.The Monaco-headquartered international owner, operator and manager of liquefied LNG carriers said that higher European imports (up 110% year-on-year) accounted for most of the growth, while demand from Northeast Asia (Japan, China, South Korea and Taiwan) was flat year-on-year, according to Poten.NaturalâŚ
Global LNG Demand Up 16%: GasLog

Global liquefied natural gas (LNG) demand was 86 million tonnes (mt) in the second quarter, compared with 74 mt in the second quarter of 2018, an increase of 16%, said GasLog Partners, the international owner and operator of LNG carriers.Monaco-headquartered company quoted a Poten report which says that higher European imports (up 110% year-on-year) accounted for most of the growth, while demand from Northeast Asia (Japan, China, South Korea and Taiwan) was flat year-on-year.NaturalâŚ
Scorpio Completes Kamsarmax Vessels Sale

Monaco-headquartered Scorpio Bulkers completed the sale of the SBI Electra and SBI Flamenco last month.The provider of marine transportation for major bulks said in a press note that it agreed to sell the two 2015 Chinese built Kamsarmax vessels in March 2019, for approximately $48.0 million in aggregate.Scorpio recorded a loss of approximately $7.8 million, including the write-off of deferred financing costs, during the first half of 2019.During the second quarter of 2019, theâŚ
Shell Ocean Discovery XPRIZE Livestream

On Friday, May 31, the Shell Ocean Discovery XPRIZE awards event will be livestreamed from Monaco where the winners of the $7 million global ocean mapping competition will be revealed.The three-year competition challenged teams to advance deep sea technologies for autonomous and unmanned, fast and high-resolution ocean exploration.Tune in here at 1:30 p.m. (ET) to see the overall and NOAA bonus prize winners announced.
Scorpio Sells, Leaseback Six Vessels

Monaco-based dry bulk shipping company Scorpio Bulkers has agreed to sell and leaseback six Ultramax vessels to AVIC International Leasing.The dry bulk operator said in a press note that the six vessels are SBI Antares, SBI Bravo, SBI Hydra, SBI Leo, SBI Lyra and SBI Maia.Upon completion, which is estimated to take place in the second quarter of 2019, the Companyâs liquidity is expected to increase by up to $62.4 million in aggregate, comprising up to $52.6 million upon closingâŚ
Scorpio Bulkers Borrows to Fit Scrubbers

Scorpio Bulkers, a shipping company that owns and operates dry bulk carriers worldwide, announced that it has reached agreements with certain lenders to to increase certain existing credit facilities by a total of $41 million.The Monaco-based dry bulk shipping company said in a press release that the agreement in order to finance the installation of exhaust gas cleaning systems (scrubbers) on certain of its vessels.The additional amounts will be drawn upon the installation of the scrubbers on these vessels, and are structured as upsizings of existing credit facilities.
GasLog in LNG Charter Deal with JERA

Monaco-based liquefied natural gas (LNG) shipper GasLog has agreed a 12-year charter contract with worldâs largest LNG buyer, Japanâs JERA.The LNG vessel owner said in a press release that the charter party agreement was signed with LNG Marine Transport Limited (LMT), the principal LNG shipping entity of JERA, for its existing uncommitted newbuild vessel, HN 2274. GasLog is scheduled to take delivery of the vessel, a 180,000 cubic meter Mark III Flex Plus design with low pressure two stroke propulsionâŚ
GasLog Warsaw Secures Charter with Endesa

Monaco-based liqueďŹed 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 WoganâŚ
Dynagas Vessel Employment Almost Full

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 Partnershipâs 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.
Columbus Launches 80m Yacht Dragon

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 Columbusâ outstanding fleet of superyachts like award-winning Sport Hybrid 40 M/Y Divine and M/Y Eleonora 3âŚ
NAT: The Hansson Family Buys More Stock
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.
Gulf Craft Unveils Majesty 175

UAE builder Gulf Craft announced that the 54-metre concept Majesty 175 is currently being constructed by UAE builder Gulf Craft at the companyâs Umm Al Quwain facility, with her delivery scheduled to the end of 2019.The completion process of the largest yacht âMade in UAEâ, 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.