Owned Subsidiary News

22 Mar 2019

GasLog Warsaw Secures Charter with Endesa

Image: GasLog Ltd

Monaco-based liquefied 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 Wogan…

20 Mar 2019

Electric Boat Awarded $2bln Contract

Image: US Naval Institute

The U.S. Navy has awarded General Dynamics' Electric Boat subsidiary a $2B contract modification for long lead time material to support construction of Block V Virginia-class submarines. The award modifies a contract awarded in 2017 that provides funding for long lead time material for steam and electrical plant components, main propulsion unit and ship service turbine generator efforts and miscellaneous hull, mechanical and electrical system components. This modification brings…

05 Mar 2019

Diana Fixes m/v San Francisco with Koch

M/V San Francisco. Pic: Diana Shipping Inc

Diana Shipping 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 Newcastlemax dry bulk vessels, the m/v San Francisco.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period of minimum 19 months to about 22 months. The charter commenced earlier today.The “San Francisco” is a 208…

10 Mar 2019

GasLog Acquires Glasgow

 Pic: GasLog Partners

The liquefied natural gas (LNG) carriers  operators GasLog Partners and  GasLog announced that the Boards of Directors of both companies and the Conflicts Committee of GasLog Partners have approved entering into an agreement for the Partnership to purchase from GasLog 100% of the shares in the entity that owns and charters the GasLog Glasgow.According to a press release from the company, the aggregate purchase price for the Acquisition will be $214 million, which includes $1 million for positive net working capital balances to be transferred with the vessel.

08 Mar 2019

Diana Shipping Fixes 'Salt Lake City' with Cargill

Salt Lake City. Pic: Diana Shipping

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Salt Lake City.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$9,750 per day, minus a 4.75% commission paid to third parties, for a period of minimum 20 months to maximum 23 months. The charter is expected to commence on March 14…

17 Mar 2019

Castor Maritime Fixes Magic P with Oldendorff

Pic: Castor Group

The international shipping company specializing in the ownership of dry-bulk vessels Castor Maritime announced that, through a wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GMBH & Co KG Luebeck for its Panamax vessel Magic P.The owners of a dry bulk vessels said in a press release that the gross charter rate is US$ 11,250 per day, for a period of a minimum of five months up to a maximum of about eight months (for the first 30 days period the daily gross rate is US$ 9,000).

25 Feb 2019

Diana Shipping Fixes Two Dry Bulkers with SwissMarine

Pic: Diana Shipping

Diana Shipping has announced time charter contracts for m/v Newport News and m/v Los Angeles with SwissMarine.The global shipping company specializing in the ownership of dry bulk vessels, today 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 Newcastlemax dry bulk vessels, the m/v Newport News.The gross charter rate is US$16,500 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to maximum 19 months.

25 Feb 2019

MOL Signs LNG Charter with Pavilion Gas

LNG bunkering vessel supplying a containership. Pic: MOL

Mitsui O.S.K. Lines (MOL) has announced that it has signed a long-term charter contract to operate Asia's largest (12,000m3-class) LNG bunkering vessel in Singapore, the world's largest fuel supply port, with Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy.Demand for LNG as bunker fuel is expected to grow on a global scale as stricter SOx regulations take effect in January 2020. Singapore's Maritime and Port Authority (MPA) is focusing considerable effort on development…

03 Mar 2019

Subsea 7 Buys-back Shares

Pic: Subsea 7 S.A.

With the market looks upbeat, Luxembourg-based subsea services vessel owner Subsea 7 announced a share buy-back programme."Reflecting Subsea 7’s strong financial and liquidity position and improving market outlook as well as a rebalancing of cash returns to favour share repurchases, the Board of Directors authorised a new share repurchase programme of up to USD 200 million," said a press release from the subsea engineering, construction and services company serving the offshore…

22 Feb 2019

Diana Shipping Fixes Houston with Koch

Pic: Diana Shipping Inc.

Diana Shipping 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 m/v Houston.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$10,125 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to about 17 months. The charter commenced on February 17…

25 Feb 2019

Adnoc Signs USD4bln Pipeline Deal

Photo: Abu Dhabi National Oil Company

Abu Dhabi State-Owned Oil Company Adnoc has sealed a $4 billion midstream pipeline infrastructure deal with BlackRock, the world's largest asset manager, and private equity firm KKR & Co.The Middle East national oil company said that the transaction includes the creation of Adnoc Oil Pipelines, which will lease Adnoc's interest in 18 pipelines and give rights to transport crude and condensates from Adnoc's onshore and offshore concessions over 23 years.BlackRock and KKR will form a consortium to hold a 40% stake in Adnoc Oil Pipelines…

27 Feb 2019

Keppel, Golar to Build FLNG Facility

Image: Keppel Corporation

Keppel Corporation will partner liquefied natural gas (LNG) shipping company Golar LNG  to develop a floating LNG facility (FLNG) facility to be located on the Mauritania and Senegal maritime border.Keppel will partner Golar by subscribing for 30 per cent in Gimi MS Corporation, through Keppel's indirect wholly owned subsidiary First FLNG Holdings (FFH). The remaining 70 per cent in Gimi MS Corporation will be subscribed by Golar.Gimi MS will build and operate the facility, said the company.Keppel and Golar have previously partnered on the FLNG Hilli Episeyo…

01 Mar 2019

Yinson, First E&P in $902 Mln FPSO Deal

Image: Yinson Holdings Berhad

Malaysia’s floating production storage and offloading (FPSO) operator Yinson and Nigerian oil company First Exploration & Petroleum Development Company Ltd (First E&P) have executed a contract for an FPSO to be deployed offshore Nigeria.The contracts worth $901.79 million were entered into via its wholly-owned subsidiary Yinson Nepeta Production Ltd (YNPL) and indirect subsidiary Yinson Operations & Production West Africa Ltd (YOPWAL).The estimated aggregate value of the contract is based on the assumption that the extension options are fully exercised…

20 Feb 2019

Keppel Delivers Jack-up Rig to Grupo R

Image: Keppel Corporation

Singapore's Keppel FELS has delivered the jackup rig, Cantarell IV, to Grupo R with a perfect safety record.The wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) said that as part of the deal, Grupo R has entered into a sale and leaseback agreement with FELS Asset, another wholly-owned subsidiary of Keppel O&M.FELS Asset will purchase the rig from Grupo R for US$179m which is equivalent to the balance contract value of the rig. Cantarell IV will be leased back to Grupo R on a bareboat charter at competitive day rates over five years.

28 Jan 2019

Eagle Bulk Shipping Avails Loan Secured by 21 Vessels

Pic: Eagle Bulk Shipping

American shipowner Eagle Bulk Shipping  has announced that Eagle Bulk Ultraco, a wholly-owned subsidiary of the Company, has closed on a new five-year senior secured facility  totaling USD 208.4 million, maturing in 2024. The global transporter of drybulk commodities said that the Facility is secured by 21 vessels, including the M/V Cape Town Eagle which was acquired earlier this month, and includes a term loan of USD 153.4 million and a revolving credit facility of USD 55 million.Gary Vogel…

28 Jan 2019

NYK Shipmanagement Intros Digital Guidance for ECDIS

Image: NYK Group

Singapore-based NYK Shipmanagement, a wholly owned subsidiary of NYK Group, has created “iPlus ECDIS,” digital guidance for the operation of Electronic Chart Display and Information Systems (ECDIS).The new digital program will help officers to become experts in the use of ECDIS over a shorter time by providing detailed guidance that covers 66 ECDIS operations to improve the efficiency of onboard duties.According to a press note from NYK, much time is required for officers to become proficient in the use of ECDIS because it differs according to manufacturer and model…

12 Feb 2019

SCHOTTEL Thrusters for New Fireboat

Branddirektor Westphal (Photo courtesy of SCHOTTEL)

A state-of-the-art propulsion system helps to maek Branddirektor Westphal as one of the most high-tech fireboats in Europe.The vessel, operated by Flotte Hamburg GmbH & Co. KG, a wholly-owned subsidiary of Hamburg Port Authority (HPA), and built at the Fassmer shipyard in Lower Saxony, is scheduled to enter service in the Port of Hamburg shortly.The new vessel is fitted with SCHOTTEL thrusters: two SCHOTTEL Rudderpropellers and two SCHOTTEL Transverse Thrusters.The Branddirektor Westphal is powered by two Caterpillar C18 engines, each with an output of 500 kW.

31 Jan 2019

Wintershall Appoints Helge Beuthan to Head ME

Helge Beuthan. Image: © Wintershall/Heiko Meyer

Germany's largest crude oil and natural gas producer Wintershall Holding has appointed Helge Beuthan as new general manager of its Middle East division in Abu Dhabi.Beuthan, the current vice president for global subsurface evaluation, would take over the duties of Uwe Salge in Abu Dhabi on February 1, said a press release from the wholly owned subsidiary of BASF.The previous General Manager will return to Wintershall in Kassel, where he will take over Beuthan's area of responsibility.Helge…

03 Feb 2019

Anadarko Sells LNG to CNOOC

Image:  Anadarko Petroleum Corporation

U.S. oil giant Anadarko Petroleum said it has signed a deal with one of China’s biggest importers to supply 1.5 million tonnes of liquefied natural gas (LNG) a year from Mozambique for a period of 13 years.The contract, signed by Anadarko and China’s GNOOC Gas and Power Singapore Trading & Marketing, gives China’s biggest liquefied natural gas importer access to world-class gas resources from Mozambique LNG, Mitch Ingram, executive vice president of Anadarko’s International, Deepwater and Exploration division…

03 Feb 2019

KFTL Hits Container Moves Milestone

Pic: Kingston Freeport Terminal Limited (KFTL)

Kingston Freeport Terminal Ltd (KFTL), a Jamaican consortium formed by French global terminals operator CMA CGM and its majority-owned subsidiary Terminal Link, said it recorded the best performance ever in the history of the port of Kingston in terms of container moves.Kingston Freeport, which has leased Kingston Container Terminal, KCT, under a 30-year concession, said a total of 3,304 moves were handled within 24 hours of operation on the Post-Panamax vessel Cosco Beijing, which arrived at the terminal on January 24.

05 Feb 2019

Diana Shipping Fixes Danae with Phaethon

M/v Danae. Pic: Diana Shipping Inc

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Danae.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$8,100 per day, minus a 5% commission paid to third parties, for a period of minimum 11 months to maximum 14 months. The charter is expected to commence later today.The “Danae” is a 75…

15 Feb 2019

Diana Fixes Crystalia, Maera with Glencore

(L-R) m/v Crystalia and m/v Maera. Pic: Diana Shipping Inc.

Greek dry bulk owner Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia.The gross charter rate is US$10,500 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to maximum 17 months. The charter is expected to commence on February 23, 2019.The “Crystalia” is a 77,525 dwt Ice Class Panamax dry bulk vessel built in 2014.Additionally…

17 Feb 2019

Anadarko, Bharat Petroleum Sign LNG Deal

Pic: Anadarko Petroleum Corporation

American petroleum and natural gas exploration and production company Anadarko, on behalf of the Mozambique Area 1 partners, signed a deal with Bharat Gas Resources (BGR) for the supply of liquefied natural gas (LNG) volumes from the Mozambique LNG development.The sale and purchase agreement (SPA) is for 1 million tonnes per annum (MTPA) for a term of 15 years. BGR is a wholly owned subsidiary of Government of India controlled  oil and gas giant Bharat Petroleum Corporation Ltd.

Maritime Reporter Magazine Cover Mar 2019 - Cruise Shipping

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