Owned Subsidiary News

17 Jun 2019

AtoB@C Begins Towage in Port of Raahe

AtoB@C Shipping, a ship operator and logistics company, said that it would start to offer port towage and related services in Port of Raahe, Finland in August 2019.A press release from the wholly-owned subsidiary of the Finnish dry bulk shipping company ESL Shipping said that it offers the services equally to all vessels. Port towage and related services shall be offered 24/7 all year round.“Our long term presence in Port of Raahe provides an excellent base for also offering of towage services. We know the Port, it’s partners and the needs of vessel calling here in Raahe”, says Regional Manager Ari Hurula.Recently the size of ships calling Raahe has been increasing. This together with variating wind conditions effect the required assistance service level.

14 Jun 2019

Diana Shipping Sells Thetis

Pic: Diana Shipping

Diana Shipping, through a separate wholly-owned subsidiary, has entered into a Memorandum of Agreement to sell the 2004-built Panamax bulker m/v Thetis to an undisclosed buyer.The global shipping company specializing in the ownership of dry bulk vessels said that the delivery of Thetis to the buyer is scheduled for latest by July 31, 2019. The sale price is US$6.4 million before commissions.Upon completion of the aforementioned, Diana Shipping Inc.’s fleet will consist of 44 dry bulk vessels (4 Newcastlemax…

10 Jun 2019

Diana Shipping Signs Charter Contracts

Pic: Diana Shipping Inc

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Singapore Marine Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York.The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the gross charter rate is US$15,500 per day, minus a 5% commission paid to third parties, for a period of minimum 17 months to about 19 months. The charter commenced on June 7…

10 Jun 2019

Novatek Pact with Chinese Duo on Arctic LNG 2

Image: Novatek

Russia's second largest natural gas producer, Novatek has signed share purchase agreements with two Chinese oil giants for the sale of participation interest in the Arctic LNG 2 project.Novatek announced that it has signed the Share Purchase Agreement with China National Offshore Oil Corporation (CNOOC) in relation to the sale of a 10% participation interest in the Arctic LNG 2 project.The Agreement will close in the nearest future subject to approval by regulatory authorities…

05 Jun 2019

Diana Shipping Fixes P. S. Palios with SwissMarine

Pic: Diana Shipping

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v P. S. Palios.The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the gross charter rate is US$17,500 per day, minus a 5% commission paid to third parties, for a period of about eight months to about nine months.The charter commenced earlier today. The m/v P. S. Palios was chartered, as previously announced, to Koch Shipping Pte.

05 Jun 2019

Arcosa Marine Acquires Wintech

Logo: Arcosa Marine

Arcosa Marine, a wholly-owned subsidiary of Arcosa, Inc., has announced the acquisition of the assets of Wintech International, LLC, a leading provider of winches to the marine, rail, and industrial markets. The acquisition expands Arcosa Marine’s product offerings to complement Arcosa Marine’s Nabrico brand of winches and deck fittings.  The combined group will offer a dynamic blend of solutions whether for towboats, barges, or dock facilities.  Wintech will continue to operate in Shreveport, Louisiana, while Nabrico operates out of Gallatin, Tennessee.

30 May 2019

Diana Shipping Fixes m/v Leto with Uniper

Pic: Diana Shipping Inc.

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Panamax dry bulk vessels, the m/v Leto.The shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period of minimum 11 months to maximum 13 months.The charter is expected to commence on May 31, 2019.

15 May 2019

Bangladesh Shipbreaking Yard Explosion Kills Two

Pic: NGO Shipbreaking Platform

Two yard workers have died and five others were severely injured yesterday (May 15) in a major explosion on board beached vessel at a shipbreaking yard in Chittagong, Bangladesh, said the NGO Shipbreaking Platform.At around 8:30 AM, a fire broke out on board the vessel BUNGA KELANA 4, beached at Mahinur Ship Breaking yard, also known as Premium Trade Corporation. The flames spread from abandoned waste oil located close to the engine room where workers were torch-cutting steel parts. Mohammod Rubel, 25 years old cutter man, lost his life in the accident. He died on his way to the hospital.

14 May 2019

Anadarko Signs LNG Supply Deal with JERA, CPC

Image: Anadarko

US hydrocarbon exploration company Anadarko has signed a Sale and Purchase Agreement (SPA) with Japanese power company JERA and Taiwanese oil and gas company CPC.The SPA calls for the delivered ex-ship supply of 1.6 million tonnes per annum (MTPA) for a base term of 17 years from the commercial start date. Mozambique LNG's portfolio of long-term sales now includes four of the top five LNG importing markets in the world."This co-purchasing agreement with JERA and CPC brings together…

08 May 2019

Furuno USA Hires Toma

George Toma (Photo: Furuno USA)

Furuno USA has hired a new commercial business development manager. Based in Houston, Texas, Mr. George Toma will play a key role in establishing and developing business relationships with commercial ship owners, operators, and builders around the country to promote the Furuno product line.Toma comes to Furuno with forty years of experience in the maritime industry. He has served on the Board of Directors for RTCM (Radio Technical Commission for Maritimes), and received the Outstanding Professional Achievement Award in 2013 from the U.S. Merchant Marine Academy Alumni Association.

02 May 2019

First S-to-S LNG Transfer in Singapore

Pic: SLNG Corporation

Singapore's state-owned Pavilion Energy has performed the first commercial ship-to-ship LNG bunkering in the Port of Singapore.The operation, the first of such in Singapore, comprised a reload of 2,000m3 of LNG onto a small-scale tanker at the newly-modified Secondary Jetty of the Singapore LNG (SLNG) Terminal, followed by a ship-to-ship transfer to the receiving heavy-lift commercial vessel.“Pavilion Energy’s first commercial ship-to-ship LNG bunkering operations in Singapore…

02 May 2019

Diana Shipping Fixes Arethusa with Ausca

m/v Arethusa. Image:   Diana Shipping

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Arethusa.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$9,150 per day, minus a 5% commission paid to third parties, for a period of minimum twelve months to maximum fifteen months.The charter is expected to commence later today, it said.

02 May 2019

Wärtsilä Closes Acquisition of SES

The technology group Wärtsilä strengthens its service offering by acquiring Ships Electronic Services Ltd (“SES”), a UK based company specializing in navigation and communication electronics, installation, maintenance and repair services, mainly for commercial and leisure vessels. The acquisition was signed and closed on 2 May 2019.SES, established in 1974, has its headquarters in Rochester and operates also out of nine other offices in the UK. The company, together with its wholly-owned subsidiary Greenham Regis Ltd, holds a strong local presence across the local marine service market. SES’ turnover is approximately GBP 10m and the company employs 47 staff. The enterprise value of the transaction is GBP 3.2m.

02 May 2019

VARD Signs MOU with ASFAT

Photo: Vard Marine

Vard Marine (VARD), a naval architecture and marine engineering company, announced that a memorandum of understanding (MoU) has been signed with Askeri Fabrika ve Tersane Ä°Ĺźletme A.Ĺž. (ASFAT) in Turkey to promote  strategic partnership.As per MoU, Vard Marine provides the design of a wide range of paramilitary vessels and ASFAT coordinates construction of select projects at their approved naval shipyards in Turkey.The MOU provides an opportunity for Vard Marine to expand operations…

29 Apr 2019

Port NOLA Names Mike Stolzman as GM

Image: Port NOLA

The New Orleans Public Belt Railroad Corporation (NOPB), a wholly owned subsidiary of the Port of New Orleans (Port NOLA), has named M.D. (Mike) Stolzman as its new General Manager, effective immediately.Stolzman, a veteran railroad executive with extensive short line and Class I rail experience, will report to Brandy D. Christian, President and CEO of Port NOLA and CEO of NOPB, which is a Class III railroad on the nation’s fourth largest rail gateway that connects with six Class…

26 Apr 2019

Minerva Bunkering Names Tyler Baron as CEO

Image: Mercuria Energy Group

Minerva Bunkering, formerly Aegean Marine Bunkering Network now a fully-owned subsidiary of Mercuria Energy Group, appointed Tyler Baron as the Chief Executive Officer (CEO).Baron will be based in Geneva, and will oversee Minerva’s global business operations across Europe, the Americas and Asia, said a press note from the physical supplier of marine fuels.“Given Tyler’s history with and dedication to the company, as well as his breadth of experience in financial markets and capital allocation…

26 Apr 2019

Novatek Sell 20% Stake in Arctic LNG 2 to China

Image: Novatek

Russian gas producer Novatek said on  that it had signed agreements with two Chinese companies to sell a combined 20 percent stake in its new liquefied natural gas project, Arctic LNG 2.Under the agreement, the Chinese firms -CNOOC and CNODC - will become shareholders in the Arctic LNG project with 10 percent each. Novatek gave no financial details in a statement announcing the agreements.According to a press release, Novatek  has signed a binding agreement to enter the Arctic LNG 2 project with China National Oil and Gas Exploration and Development Company Ltd (CNODC)…

22 Apr 2019

Naming Ceremony for Cameron Project LNG Carrier

Photo: NYK Group

On April 19, a naming ceremony was held at the Nagasaki Shipyard of Mitsubishi Heavy Industries Ltd. for a new liquefied natural gas (LNG) carrier owned by a joint company established by NYK, the Mitsubishi Corporation (MC), Toho LNG Shipping Co. Ltd. (Toho LNG Shipping),* and Tohoku Electric Power Co. Inc. (Tohoku Electric Power).At the ceremony, the ship was named “Diamond Gas Sakura” by Yoshiro Tominari, representative director and president of Toho Gas Co. Ltd., and Toshinori Abe…

16 Apr 2019

Keppel to Start Work on Golar's FLNG vessel

Pic: Golar LNG

Keppel Shipyard Ltd (Keppel Shipyard), has received the Final Notice to Proceed (FNTP) from Gimi MS Corporation, a subsidiary of Golar LNG Limited, to commence full conversion works for the Gimi Floating Liquefaction Vessel (FLNG) project.The wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M) said in a press release that  the total contract is worth US$947million and builds on the issuance of the Limited Notice to Proceed (LNTP) on 17 December 2018.Keppel Shipyard's…

16 Apr 2019

Cameron LNG Project in Final Stage

Image: McDermott

McDermott International, provider of technology, engineering and construction solutions to the energy industry, and its joint venture partner, Chiyoda International Corporation, a U.S.-based wholly-owned subsidiary of Chiyoda Corporation, Japan, announced that Train 1 of the Cameron LNG project in Louisiana has reached the final commissioning stage.This includes the introduction of pipeline feed gas into Train 1 of the liquefaction export facility, the precursor for the production of liquefied natural gas (LNG)…

15 Apr 2019

Diana Shipping Sells Dry Bulker Erato

Pic:  Diana Shipping Inc.

Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2004-built vessel “Erato”.The global shipping company specializing in the ownership of dry bulk vessels said that the delivery to the buyer is expected latest by June 10, 2019. The sale price is US$7.0 million before commissions.Upon completion of the aforementioned sale and the previously announced sale of a Panamax dry bulk vessel…

14 Apr 2019

Keppel Makes First LNG Cargo Import from N. America

Pic: Keppel Corporation

Singapore's Keppel Gas, a wholly owned subsidiary of Keppel Infrastructure Holdings, has completed its first liquefied natural gas (LNG) cargo import under Singapore's spot import policy.The policy allows gas customers in the Republic to import up to 10 per cent of their annual long-term contracted LNG intake on a spot cargo basis.The spot cargo of 160,000m3 of LNG originated from an LNG liquefaction project in North America, marking the first time that Keppel Gas has diversified…

11 Apr 2019

World First: Keppel Delivers EU Stage-V Dredger

Afonso de Albuquerque, the world’s first EU Stage V dredger, was delivered by Keppel Offshore & Marine (Photo: Keppel Offshore & Marine)

Keppel Singmarine’s Nantong, China, shipyard has delivered the world’s first dredger to meet European Union Stage V emissions requirements for inland waterways vessels.The wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) said in a press release that has delivered the ultra low emission dredger on time, within budget and with a perfect safety record, strengthening its presence in the non-oil and gas segment.Built for Jan De Nul and named Afonso de Albuquerque…

Maritime Reporter Magazine Cover Jun 2019 - 80th Anniversary World Yearbook

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