Owned Subsidiary News

01 Dec 2020

NYK Inks Charter Deal for Pair of Methanol-fueled Chem Tankers

NYK Bulkship (Asia) Pte. Ltd., an NYK Group company based in Singapore, signed a long-term time charter contract with Waterfront Shipping Company Limited (WFS) for two newly built chemical carriers, each equipped with a dual-fuel engine that enables the vessels to be powered not only by marine fuel oil but also methanol.Planned for delivery from the Hyundai Mipo Dockyard (Korea) in 2022, the vessels will be delivered to WFS, a wholly owned subsidiary of Methanex Corporation, the world’s largest producer and supplier of methanol.

10 Nov 2020

Ingram Barge to Acquire Cheryl K and San Jacinto River Fleet

(Photo: Ingram Barge Company)

Nashville-based Ingram Barge Company announced Tuesday that its wholly-owned subsidiary Houston Fleeting Services has reached a deal to acquire the business assets Houston-based Cheryl K and San Jacinto River Fleet. According to Ingram Barge, the purchase allows it to expand its footprint into the Houston area and along the Texas Gulf Coast while simultaneously growing its logistics, dry barge and liquid barge businesses by adding critical infrastructure, vessels and personnel.

29 Oct 2020

IRClass Classes India's First LNG-FSRU

Credit: IRClass

Ship classification society Indian Register of Shipping (IRClass) has classed India’s first LNG-FSRU.Built at Hyundai Shipyard in Ulsan, South Korea, the 180,000 cu.m, the Indian-flagged, is designed for continuous operations without the need for drydocking over a period of 20 years. The unit is assigned class notation for 20 years extended interval between successive dry-dockings and complies with the requirements of IRClass Rules and Indian Flag for this purpose. The unit is owned by Triumph Offshore Pvt Ltd.…

23 Oct 2020

NYK Acquires Gazocean

On October 22, NYK signed a sales and purchase agreement with France's Total acquiring all of the company’s shares in the ship management company, Gazocean. Based in Marseille, France, and responsible for the management of six LNG carriers, Gazocean is now a wholly owned subsidiary of NYK. The move is designed to strengthen NYK’s ship-management system and expand the company’s LNG transportation business in France. Before the purchase, NYK held 20% of Gazocean shares and Total held 80%.In accordance with its medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” the NYK Group is seeking to secure stable freight rates through long-term contracts…

19 Oct 2020

Lounsbury Joins Harvey Gulf Subsea Solutions

LaDawn Lounsbury (Photo: Harvey Gulf Subsea Solutions)

U.S.-based Harvey Gulf Subsea Solutions said it has appointed LaDawn Lounsbury to its Business Development Team.Lounsbury brings to the position extensive subsea background and well-established client relationships, having previously held roles with Helix, Ranger Offshore, Oceaneering International and, most recently, Bayou Companies Deepwater Flow Assurance and Coating and Insulation Business, over the course of her 12-year career. She has a Bachelor of Science Degree in Business from Louisiana Tech.A wholly owned subsidiary of Harvey Gulf International Marine…

14 Oct 2020

KOTUG Anchor Handler Secures Offshore Work in Guyana

SD Power (Photo: KOTUG)

Dutch marine services and towage company KOTUG said it has been awarded a long-term contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) to provide offshore terminal towage support for operations in Guyana.KOTUG, through local entity KOTUG Guyana Inc., will employ a high-spec 130 tonnes bollard pull, DP-2 azimuth anchor-handling tug SD Power to provide support to the existing and upcoming floating production, storage and offloading units (FPSO) at the Liza Field in the prolific Stabroek Block offshore Guyana by providing towage assistance to export tankers…

01 Oct 2020

Seaspan Buys Two 12,000 TEU Containerships

© Mariusz / Adobe Stock

Seaspan Corporation announced on Thursday that it has agreed to purchase two 12,000 TEU containerships from an unnamed seller for approximately $176 million in cash.The Hong Kong-headquartered owner and operator is scheduled to take delivery of the 2018-built vessels in October, subject to customary closing conditions, it said. Both ships will operate under long-term charters with leading global liners.Seaspan, a wholly owned subsidiary of Atlas Corp., said it plans to finance the acquisitions from additional borrowings as well as cash on hand.With the addition of the two newest box ships…

18 Sep 2020

World’s Largest LNG Bunkering Vessel Named in Rotterdam

(Photo: Chris Schotanus, Total)

The world’s largest liquefied natural gas (LNG) bunker vessel was officially named during a ceremony held Friday in Rotterdam. The 135.5-meter-long, 18,600-cubic-meter-capacity GTT Mark III Flex membrane vessel has been named Gas Agility.The first LNG bunker vessel owned by Emerald Green Maritime Limited, a wholly owned subsidiary of Mitsui O.S.K. Lines, Ltd. (MOL), she is chartered by Total’s affiliate Total Marine Fuels Global Solutions (TMFGS).In February 2018, TMFGS and MOL signed a time charter party for the vessel…

17 Sep 2020

Crowley Completes Challenging Fuel Delivery in the Arctic

(Photo: Crowley)

Crowley said it overcame a number of challenges to lighter and deliver nearly four million gallons of military specification fuel to Eareckson Air Station on the Aleutian Island of Shemya in Alaska.Shemya’s radar and aircraft refueling station, Eareckson Air Station, and the 180 service members, contractors and civilians who operate it rely on Crowley’s twice-yearly fuel deliveries to supply fuel required for incoming aircraft for the Defense Logistics Agency, U.S. Coast Guard, Air Force and other state and federal agencies.

25 Aug 2020

Container Shipping & Perfecting on-time Performance

© eyewave/AdobeStock

Recent reports show that on-time performance in the containership sector continues to deteriorate, causing tension between the carriers and retailers. In general, non-ocean carriers – trucks and trains – are achieving reliability rates well above 90% whereas containerships rarely beat a 70% on-time threshold. For retailers, the threat of having empty shelves is beginning to swing the balance from cheaper ocean transport to a need for reliable just-in-time deliveries supplied by…

20 Aug 2020

Colombo Dockyard to Build Six Bulk Carriers for Misje

(Image: Wärtsilä)

Sri Lanka shipbuilder Colombo Dockyard PLC (CDPLC) said it is moving toward executing an already signed contract with Misje Eco Bulk AS to build a series of six bulk carriers, with options for up to four additional vessels. The contracts were signed in March but are scheduled to come into effect in September upon the Norwegian shipowner's final board approval.Misje is a fully owned subsidiary of Kåre Misje & Co., a family owned Norwegian company which holds a group of companies…

19 Aug 2020

Synergy, Norden Launch Tanker JV

Nord Integrity, a 48,026 dwt MR product carrier (Photo: Synergy Group)

Synergy Group and D.S. Norden have formed a new 50/50 joint venture to handle the technical management of Norden’s owned tanker vessels. Norden Synergy Ship Management (NSSM) will be headed by Henrik Christensen who previously managed Norden’s Technical Department.“We see great alignment when we have partnered previously and we expect that to lead to more mutual wins in the future through NSSM,” said Captain Rajesh Unni, CEO & Founder of Synergy Group.The formation of NSSM further cements the partnership between Synergy Group…

14 Jul 2020

Chinese Study Examining Methanol as a Marine Fuel

© ibreakstock / Adobe Stock

The Methanol Institute (MI) has joined a study led by the China Waterborne Transportation Research Institute (CWTRI), the think tank of the Chinese Ministry of Transport, which will consider the technical and operational requirements for the use of methanol as a marine fuel. The study is supported by methanol producers and distributors Methanex  and Shanghai Huayi Energy Chemical Co., Ltd.Based on the characteristics of China’s energy and shipping industries, the study will create comprehensive guidance and policy suggestions for the use of methanol as a marine fuel…

04 Jun 2020

Diana Charters Capesize to Koch Shipping

© John Regan / MarineTraffic.com

Dry bulk shipowner Diana Shipping Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the 179,492 dwt G. P. Zafirakis, built in 2014.The gross charter rate is $13,200 per day, minus a 5% commission paid to third parties, for a period until minimum October 1, 2021 up to maximum December 31, 2021. The charter commenced on May 31, 2020.Diana…

27 May 2020

Pacific International Lines Secures Debt Deal

© Alexander Gorter / MarineTraffic.com

Singapore-based container ship operator Pacific International Lines Pte (PIL) has agreed with most of its financial lenders to defer debt payments and is in talks with a unit of Singapore state investor Temasek Holdings for a potential investment.PIL said in a statement on Tuesday that it had made significant progress in cutting asset costs due to the challenges the sector has been facing but the coronavirus pandemic had made matters worse over the past month.“Due to the situation…

12 May 2020

Samsung Delivers LNG Carrier to GasLog

(Photo: GasLog)

Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA, GasLog said in its latest quarterly report.The handover follows the April 1 delivery of Samsung-built sister ship GasLog Windsor, now on a seven-year charter with a wholly owned subsidiary…

30 Apr 2020

Seaspan Takes Delivery of Four 12,000 TEU Vessels

© donvictori0 / Adobe Stock

Seaspan Corporation has taken delivery of four 12,000 TEU vessels, each having commenced five-year time charters with a global liner, the ship owner announced Thursday.Three of the eco-modern containerships were built in 2018, and the other in 2017.Seaspan, a wholly owned subsidiary of Atlas Corp., announced last month it closed four flexible finance lease transactions with total proceeds of approximately $340 million. At the conclusion of the initial 10-year term, Seaspan is obligated to purchase the vessels at a predetermined price.Bing Chen…

30 Apr 2020

Seafox Proposes to Take Over GMS

A GMS jack-up unit - Credit: GMS

The Dutch owner of a fleet of offshore jack-up service vessels Seafox has made a non-binding proposal to take over the UAE-based jack-up specialist GMS. Both companies provide offshore service support jack-up units for hook-up and commissioning in the oil & gas and offshore wind industries.Seafox made the proposal on Sunday, April 26, citing "recent trading and share price volatility in relation to GMS." The proposal is for a possible cash offer for the entire issued and to be issued share capital of GMS by a wholly-owned subsidiary of Seafox…

21 Apr 2020

Bollinger Delivers ATB to Crowley

(Photo: Bollinger)

Crowley Fuels took delivery Tuesday of its new Alaska Class 100,000-barrel, articulated tug-barge (ATB), which will be used to transport petroleum products for the Alaska market, from Bollinger Shipyards.Crowley will operate the 483-foot ATB for Alaska-based Petro Star Inc., a wholly owned subsidiary of Arctic Slope Regional Corporation (ASRC) under a long-term charter. Crowley Shipping’s petroleum services group will operate the ATB on behalf of Crowley Fuels.The ATB is the first in Crowley’s fleet to be dedicated to the Alaska market.

21 Apr 2020

Singapore Adds Minerva Bunkering and TFG Marine to List of Bunker Suppliers

Singapore port - Image by anekoho / AdobeStock

The Maritime and Port Authority of Singapore (MPA), home the world's top marine refueling hub, said it has awarded two new bunker supplier licenses to Mercuria's Minerva Bunkering and Trafigura's TFG Marine."MPA and ESG welcome the entry of Minerva Bunkering and TFG Marine, which will consolidate Singapore's position as the global bunkering and oil trading hub," the MPA said in a joint statement with Enterprise Singapore (ESG).The licences are the first to be issued by the port regulator since 2017, bringing the total number of licensed bunker suppliers to 45 in Singapore, and come after the M

17 Mar 2020

Total Makes 'Encouraging' North Sea Discovery

Noble Sam Hartley jack-up - Credit: Noble Corporation

Total has made a hydrocarbon discovery at the Isabella exploration well in the UK Central North Sea, Neptune Energy, Total's partner in the project has informed.Neptune Energy has described Isabella as "an encouraging hydrocarbon discovery" which encountered hydrocarbons in Upper Jurassic and Triassic sandstone reservoirs, with 64 meters net pay encountered, consisting of lean gas and condensate and high-quality light oil."The results of the well will be analyzed to further evaluate the discovery, determine future appraisal activity and recoverable resources estimates.

08 Mar 2020

Diana Fixes Sideris GS with Oldendorff

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GmbH & Co. KG, Lübeck, Germany, for one of its Capesize dry bulk vessels, the m/v Sideris GS.According to a press release from the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$12,700 per day, minus a 5% commission paid to third parties, for a period until minimum October 15, 2020 up to maximum December 31, 2020. The charter is expected to commence on March 8, 2020.The “Sideris GS” is a 174,186 dwt Capesize dry bulk vessel built in 2006…

27 Feb 2020

Diana Shipping Sells Dry Bulker Norfolk

Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement (MoA) to sell to an unaffiliated third party, the 2002-built vessel Norfolk.The global shipping company specializing in the ownership of dry bulk vessels said that the delivery to the buyer is scheduled latest by April 6, 2020, for a sale price of US$8.75 million before commissions.Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 41 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax).As of today, the combined carrying capacity of the Company’s fleet, including the m/v Norfolk, is approximately 5.2 million dwt with a weighted average age of 9.7 years.

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