Omi News

An estimate of 3,000 gallons of diesel fuel has been spilled as the result of a collision between an offshore supply vessel (OSV) and a tug near Port Arthur Texas, the U.S. Coast Guard said on Friday.The Coast Guard said it is responding to the incidenct after its watchstanders at Sector Houston-Galveston received a report of a collision involving the OSV Cheramie Botruc 22 and tug vessel Mariya Moran near the entrance to Sabine Pass, Texas, Thursday morning.Personnel from Coast Guard Station Sabine, Coast Guard Marine Safety Unit Port Arthur, Texas General Land Office, Oil Spill Removal Organization, OMI Environmental Solutions and…

Greek shipping company Capital Product Partners has agreed to spin off its crude and product tanker business and merge it with the tanker businesses owned by DSS Holdings.The $1.65 billion transaction involving 68 tankers is expected to create the third largest publicly traded MR and product fleet in the world, and one of the world’s largest public mixed product and crude fleet operatorsThe new company, to be called Diamond S Shipping Inc., will be a market leader in the crude and product tanker markets, benefitting from a balanced and large-scale portfolio of vessels, strong management leadership and a cost-efficient commercial platform.DSS…

A Dutch flagged product tanker has reportedly discharged 2,600 gallons of heavy fuel oil into the Mississippi River near Norco, La., Monday. The cause of the spill is under investigation.The U.S. Coast Guard said it is responding to the incident after its watchstanders in New Orleans received a report of the oil discharge from the vessel Iver Exporter at approximately 1 a.m.The source of the discharge near mile marker 126 on the Lower Mississippi River is reported to be secured, and the 183-meter vessel is currently moored at the Shell Norco Manufacturing Complex.There are no waterway closures or restrictions due to the incident, and there are no reported injuries or impacts to wildlife.

Eight vessels with a combination of skimming packages, boom and absorbents have been deployed in response to an oil spill on the Mississippi River near Gramercy, La. The U.S. Coast Guard said it received a report Thursday morning from the National Response Center of stating oil was discharged from Petroleum Fuel and Terminal Mt. Airy during a transfer from the facility to a barge at mile marker 144.6 on the Mississippi River. Officials estimate that 2,500 gallons has been spilled. The Coast Guard conducted two overflights and deployed multiple teams to assess impacts. Oil spill response organizations OMI Environmental Solutions and Environmental Safety and Health are also responding, while the Center for Toxicology & Environmental Health LLC is conducting air monitoring.

Three ships were involved in a collision on the lower Mississippi River near Convent, Louisiana, Monday when a bulk carrier broke free from its mooring and drifted into a moored towing vessel and then an offloading tank ship. The U.S. Coast Guard is responding. Motor vessel Privocean, a 751-foot bulk carrier, broke free from its mooring and drifted down river and collided with the 98-foot towing vessel Texas which was moored at the time. The Privocean then continued to drift down river and collided with the motor vessel Bravo, an 816-foot tank ship, which was offloading crude oil at the time of the incident. The Bravo was able to complete emergency shutdown procedures before breaking free of her moorings and connection points, causing an oil spill.

Heidmar announced that Olivier Faurisson will join the company as Managing Director of Chartering and Marketing in the product sector. Faurisson has experience in product chartering and pool building. He rose to the title of General Manager, Products Division, during his 13 year career with Total Trading. At OMI Corporation he was the Head of Chartering & Business Development, in the Product Tanker Division. Most recently, he was Head of Chartering at Scorpio UK Limited. Faurisson will be based in Heidmar's London office.

Robert Bugbee, President of Scorpio has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2014. Mr. Bugbee follows a long succession of influential maritime industry leaders as Commodore. The 2014 Commodore Award will be presented to Mr. Bugbee on March 19, 2014 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford, Connecticut, U.S. The Award is given…

Long tracks of elevated nitrogen dioxide (NO2) levels show up along certain shipping routes when viewed from NASA's Aura satellite. For more than a decade, scientists have observed “ship tracks” in natural-color satellite imagery of the ocean. These bright, linear trails amidst the cloud layers are created by particles and gases from ships. They are a visible manifestation of pollution from ship exhaust, and scientists can now see that ships have a more subtle, almost invisible, signature as well, according to 'NASA Earth Observatory'.

Ocean Hotels Plc. On 25 February 2010, Davie Yards announced it has filed for creditor protection under the Companies' Creditors Arrangement Act (CCAA) with the Québec Superior Court, in Canada. On 26 February 2010, Tore Enger resigned from the Board of Directors of Ocean Hotels PLC and following a Board of Directors meeting that was held the same day, Alexandros Tsirikos was appointed Chairman of the Board of Directors. The Board is looking into terminating the management agreement between Ocean Hotels and Teco Management, and appointed Anthony Kandylidis as CEO / Managing Director of Ocean Hotels. Director Constantinos Economides also resigned as Director of the Board, to allow for a more efficient Board, and will remain Corporate Secretary of Ocean Hotels.

At its annual general meeting in in May, Jeanne M. Grasso was elected President of the Women’s International Shipping and Trading Association (WISTA) . As President of WISTA USA, Ms. Grasso will serve as a member of the six-person elected board, which includes: Vice President Linda Turnbow (Ocean Shipholdings, Inc.); Treasurer Kathleen Haines (formerly of OMI Corporation); Membership Secretary Parker Harrison (American Steamship Owners Mutual Protection and Indemnity Association, Inc.); Recording Secretary Julie D. Kuchta (Bowen, Miclette & Britt); and National WISTA Association liaison,  Mary T. Reilly (Hill, Betts & Nash, LLP). Grasso, a respected and active member of the maritime community, has held leadership positions in various maritime organizations.

OMI Corporation announces an agreement to acquire four product tankers from two other ship owners for approximately $120 million cash in aggregate. Two of the vessels are 35,000 dwt built in South Korea in 2000. One vessel was delivered on September 10, and the other was delivered on September 30. Both vessels will be chartered back to the owner for five years. The other two vessels are 37,000 dwt product carriers under construction in South Korea. Upon delivery in November 2001 and March 2002 the vessels will commence three-year time charters.

Seabulk Towing, Inc., the Tampa-based subsidiary of Seabulk International, announced the appointment of Kenneth M. Rogers to the new position of Senior Vice President of Marketing. in the Gulf of Mexico and the Atlantic. Towing's development strategy. A graduate of the U.S. Carnival Corporation. Propeller Club of the United States.

OMI Corporation of Stamford, Connecticut has ordered one 37,000 dwt ice-class 1A product carrier to be built by Hyundai Mipo Dockyard Co., Ltd., Ulsan, Korea. The vessel is scheduled to be delivered in June of 2005. Craig H. Stevenson, Jr., Chairman and Chief Executive Officer, said "we continue to grow our core business of double hull product carriers and Suezmaxes; this is the fifth sister product carrier on order, three of which will commence five year time charters upon their deliveries in 2004. We maintain our optimistic outlook for both time charter and spot market business."

OMI Corporation of Stamford, Connecticut has agreed to sell the RACER and the RAIN, single hull product carriers built in 1989 and 1990, respectively. A loss on the sale of approximately $8.0 million will be recognized in the third quarter. Craig H. Stevenson, Jr., Chairman and Chief Executive Officer said "we continue our policy of shedding older assets as opportunities arise."

OMI Corporation of Stamford, Ct. has exercised an option to have a sixth 37,000 dwt ice class 1A product carrier constructed for it by Hyundai Mipo Dockyard Co., Ltd in Ulsan, Korea; (2) it has entered into time charters for the fifth and sixth of the 37,000 dwt product carriers with the Handytankers KS pool operated by an affiliate of A.P. Moller of Copenhagen for five years from the deliveries in 2005; both of the charters have a base rate and profit sharing on earnings above the base rate. Five of the six vessels now on order have five year time charters with a base rate and profit sharing; (3) the time charters on the vessels RHONE and SEINE with a subsidiary of Total…

OMI Corporation of Stamford, Connecticut announced that it has priced a $200 million senior unsecured notes offering (the "Notes"). The size of the offering was increased to $200 million from the previously announced $150 million. The Notes will bear interest at 7.625% and will be due in 2013. OMI will have the option to call the Notes beginning in 2008. Subject to customary closing and other conditions, the offering is expected to close on November 26, 2003. OMI intends to use proceeds from the offering to repay outstanding balances under the Company's revolving credit facilities and for general corporate purposes. The Notes were offered in an unregistered offering pursuant to Rule 144A and Regulation S under the Securities Act of 1933.

The U.S. Department of Justice announced that OMI Corporation pleaded guilty to preparing false documents in an effort to cover up the illegal dumping of thousands of gallons of waste oil and sludge at sea. OMI also agreed to pay a $4.2 million fine and serve three years probation. U.S. District Judge Katharine S. Hayden accepted the guilty plea. Sentencing has been scheduled for May 3. A ship captain and chief engineer previously pled guilty in connection with the case. The ship involved in the case, the Motor Tanker Guadalupe, owned and operated by wholly owned subsidiaries of OMI Corporation, made port calls in the U.S., Europe, the Caribbean and Latin America.

The U.S. Department of Justice said that OMI Corporation pleaded guilty to preparing false documents in an effort to cover up the illegal dumping of thousands of gallons of waste oil and sludge at sea. OMI also agreed to pay a $4.2 million fine and serve three years probation. A ship captain and chief engineer previously pled guilty in connection with the case. The ship involved in the case, the Motor Tanker Guadalupe, owned and operated by wholly owned subsidiaries of OMI Corporation, made port calls in the U.S., Europe, the Caribbean and Latin America. Ships such as the Guadalupe generate waste oil and sludge in the process of purifying the heavy fuel oil that is used to power the ship. Like other ships, the Guadalupe was equipped with a system for processing this waste oil and sludge.

OMI Corporation said that it has withdrawn its previously announced offer to merge with Stelmar Shipping following Stelmar's rejection of its merger proposal and its decision to refrain from entering into discussions with OMI. The company intends to file an amended 13D with the Securities and Exchange Commission. Craig H. Stevenson, Chairman and CEO of OMI said, "Based on the actions of the Stelmar Board, specifically their complete unwillingness to discuss our offer with us and their deliberate decision to thwart shareholders' rights by purporting to amend the Company's bylaws, we have decided to withdraw our offer. Since we made our offer, we have received overwhelming support from Stelmar shareholders.

Soaring steel prices are now a major concern for leading shipbuilders. Uncertainty about spiraling material costs is even causing some yards to defer new orders, market reports indicate. "The lack of steel in some shipyards of the three major shipbuilding nations is causing newbuildings for 2007 and 2008 to be delayed," says New York tanker broker Poten & Partners in a recent market report. "Some shipyards are not accepting any more ship orders beyond late 2007 or 2008 delivery because of the lack of berth availability, insecurity stemming from the dollar's weakness, as well as uncertain steel cost," the broker says. China may as well build ships, says Poten, as "they're taking all the steel".

Soaring steel prices are now a major concern for leading shipbuilders. Uncertainty about spiraling material costs is even causing some yards to defer new orders, market reports indicate. “The lack of steel in some shipyards of the three major shipbuilding nations is causing newbuildings for 2007 and 2008 to be delayed,” says New York tanker broker Poten & Partners in a recent market report. “Some shipyards are not accepting any more ship orders beyond late 2007 or 2008 delivery because of the lack of berth availability…

By Jeanne M. Grasso and Allison L. In the past several years, federal prosecutors increasingly have devoted time and resources to pursuing vessel owners, operators, crewmembers, and shoreside employees who are involved in illegal discharges at sea. Discharges at sea have long been recognized as a serious threat to the marine environment and, as a result, there is a plethora of laws in the United States regulating discharges into waters of the United States. These statutes include the Clean Water Act, the Refuse Act, the Oil Pollution Act of 1990, the Act to Prevent Pollution from Ships (APPS) (implementing the International Convention for the Prevention of Pollution from Ships or MARPOL), and the Ocean Dumping Act, among others.

OMI Corporation of Stamford, Ct., announced that on February 26, 2004 it had taken delivery of the LOIRE, the first of seven 37,000 dwt product carriers designated as ice-class 1A, being built for it by Hyundai Mipo Dockyard Co. in Ulsan, Korea. The vessel has commenced a five year time charter party with a major oil company at a base rate with profit sharing in excess of the base rate. Craig H. Stevenson, Jr., Chairman and Chief Executive Officer said "we continue our strategy of growth with secure revenue. This vessel and four of the six sisters to follow are time chartered for five years from delivery, adding to our secured growth, improving our age profile and putting us in a leading position in ice-class product carriers."