Mt Dwt News

Seri Everest, the first in a series of three 98,000 cbm Very Large Ethane Carriers (VLECs) built at Samsung Heavy Industries Co., Ltd. (SHI) and delivered to MISC Berhad on October 30, 2020. Seri Everest is the first from a series of six VLECs that MISC purchased in July 2020. As a second generation VLEC, Seri Everest is one of the largest vessels of its kind in the world.With the delivery of MISC’s first VLEC – Seri Everest, she has set a new benchmark in the ethane market. Seri Everest has the capacity of transporting ethane in large volumes over long distances…

The Baltic Exchange has added quarterly assessments of the cost of operating crude oil carrying Aframax tankers and clean product carrying Medium Range (MR) tankers to its growing suite of shipping investor tools.The new service is based on assessments made by independent third-party ship management companies Anglo Eastern, Fleet Management and V-Ships. Using the full suite of independent Baltic Exchange indices, investors are now able to benchmark daily vessel earnings, running costs, sale & purchase and recycling prices.

GriegMaas - a joint venture  of Norwegean shipping company Grieg Star with investment management firm Maas Capital - has expanded its fleet with the Ultramax vessel Star Damon.Formerly known as GH Frankel, the 2012-built Star Damon is bought this year from Celsius Shipping.The Ultramax vessel is 199 meter long, has a beam of 32 meter, and a draught at 13.3 meters. Star Damon will join the G2 Ocean conventional bulk pool.Meanwhile, the company has delivered its old open hatch vessel, the Star Fuji, for recycling."On the 21st of August we delivered the 34 year old Star Fuji for recycling. She landed at Leyal Ship Recycling in Aliağa, near Izmir in Turkey. That is the same recycling yard that recycled Star Gran in February," a release said.Star Fuji was an Open Hatch vessel of 40,850 mt dwt.

The Dubai-based Tristar Group announced that it has signed firm contracts for six new build 25,000 MT DWT, IMO Type 2 Oil and Chemical Tankers with South Korea shipbuilder, Hyundai Mipo Dockyard.The vessels will be delivered between the middle of May 2020 till the first week of January 2021, said a press release from the fully integrated liquid logistics solutions provider.The vessels have been ordered on the back of long-term charter contracts with oil major Shell.“Our business model will continue to be built around the needs of customers and we are confident that if we continue to offer best in class services at competitive pricing there will be immense opportunity to leverage the brand equity that we have built over the years…

India's  Apeejay Shipping said it has acquired a new Japanese 76,602 MT DWT Gearless Panamax vessel to take its fleet size to nine. The ship has been renamed APJ Kabir Anand. The expansion schedule of Apeejay Shipping has seen the company acquire 3 Gearless Panamax vessels since September of last year and increase its fleet capacity by 2,27,311 MT DWT. This takes the fleet size to 9 with a DWT of 5, 94, 558. “This is a good time to own quality assets. A positive movement in the freight market due to general increase in demand as a result of growth in world economy and a drop in the supply, freight market is expected to be favourable for the industry in the coming years.

Apeejay Shipping, an Apeejay Surrendra Group company, has announced the acquisition of a 76,602 MT DWT Gearless Panamax, Japanese build. The ship is renamed ‘APJ ANGAD 2’. The acquisition takes its total fleet capacity to 5,18,018 MT DWT with an average fleet age of 12.5 years. Earlier in September, the company acquired 74,107 MT DWT Gearless Panamax, Japanese build, renamed ‘APJ UMA KISMAT’. A leading Indian ship-owner, Apeejay Shipping Limited is cautiously optimistic about domestic and international demand prospects. The newly acquired Panamax, APJ ANGAD 2 has traded internationally for 13 years while APJ UMA KISMAT has traded internationally for 16 years.

The continued maturation of Offshore Service Vessel design is embodied in recent contracts and deliveries. Ulstein Verft subsea newbuild Island Performer was built for Island Offshore to be a flexible, RLWI/IMR vessel, destined to serve its first five years for FTO in the Gulf of Mexico. “The vessel is customized to suit the scope of work in the FTO contract, in which RLWI (Riser-less Light Well Intervention) and IMR (Inspection/Maintenance/Repair) are the main tasks. She is able to perform operations at depths down to 3,000m,” said Håvard Ulstein, Managing Director, Island Offshore.

Seattle-based Naval Architecture and Marine Engineering Company Guido Perla & Associates, Inc. (GPA) has been awarded a contract to deliver the Design Package and Class Approval Package for two GPA 150M FSVs. The ships for Enterprise Shipping, awarded in a contract to build two Fast Supply Vessels for Petróleos Mexicano (Pemex) earlier in 2014, will be constructed at Maritima de Ecologia S.A. de C.V., (Marecsa), a shipyard in Mazatlán, Mexico. This will be the first commercial, non-governmental project revitalizing the marine construction in that country.

GAC informs that tonnage dues rates in the port of Novorossiysk will be increased about 9% with effect from April 27, 2014.

With the aim of giving a better service to its customers, CEPSA Marine Fuels, S.A. has put into place a new barge in Algeciras Bay, providing service for the ports of the Strait. The double hull barge is the Monte Anaga, which is new building and holds the most advanced technology. It has been specially designed to supply marine products in terms of manoeuvres, pumping rates, automatic blenders, radar soundings and meters. It segregates up to four different products, two for heavy products and two for lighter ones, providing a great versatility in everyday operations. The Monte Anaga is 4.335 MT DWT with a pumping rate of 4x250 m3/h for heavy and 2x100 for light products, and with capacity of 3.300 MT for heavy products and 550 MT for lighter ones.

With the aim of giving a better service to its customers, CEPSA Marine Fuels, S.A. has put into place a new barge in Algeciras Bay, providing service for the ports of Algeciras and Gibraltar. The double hull barge is the Spabunker Cuarenta, which is new built and holds the most advanced technology. It has been specially designed to supply bunkers in terms of manoeuvres, pumping rates, automatic blenders, radar soundings and meters. It segregates up to five different products, three for fuel, one for MGO and one for MDO, providing a great versatility in everyday operations.

Bourbon's third-quarter revenues came to 246.8 million euros, up 3.1% compared with the same period in 2008 (-2.8% at constant exchange rates), due to satisfactory growth in the Offshore Division which offset a sharp decline in the Bulk Division. In the first nine months of the year, Bourbon posted revenue growth of 8.3%, the increase being stronger in the early months of the year, while revenues were virtually stable at constant exchange rates. The value of the dollar strengthened by 11% during the period, at 1.37 dollar/euro compared with 1.52 for the same period in 2008. The Offshore Division recorded satisfactory third-quarter growth of 16.6% (9.6% at constant exchange rates), with revenues totaling 207.6 million euros versus 178 million euros for the same period in 2008.

Mitsui O.S.K. Lines, has launched one of the world’s largest iron ore carrier, the Brasil Maru (327,180 MT DWT). Naming and delivery ceremonies were held at the Mitsui Engineering & Shipbuilding Co., Ltd. Chiba Works on December 7, 2007. It will transport Brazilian iron ore to Japan under a long-term contract with Nippon Steel Corporation. The new ship is the third-generation of MOL vessels to carry the Brasil Maru name, succeeding the first-generation cargo and passenger liner Brasil Maru (built in 1939) and the second-generation cargo and passenger liner Brazil Maru (built in 1954), reflect the long history of the Japan-South America route. On hand for the ceremonies were Nippon Steel President Akio Mimura and Mitsui Engineering & Shipbuilding President Yasuhiko Kato.

Predicting business trends in the notoriously fickle marine business is difficult if not impossible. Yet when developments transpire as they have in the fast craft niche of the ferry business, it is difficult to not read the writing on the wall. The business of designing, building, outfitting and operating fast ferries in the United States is set to take off, as increasing pressures from traffic and environmental concerns force more people to the waterways. U.S. waterborne passenger transport already is large, according to Tim Kelley of Dalton & Kelley, who gave a presentation on the matter at the 17th Fast Ferry Conference, held March 13-15, 2001 in New Orleans. Currently there are 400 operators carrying more than 205 million passengers and 31 million vehicles annually. The largest U.S.