V.Ships Manages REV Ocean Expedition Ship
Norwegian ocean research organization REV Ocean has appointed V.Ships Leisure as ship management partner for the world’s largest research and expedition vessel.V.Ships Leisure, part of V.Group, will provide a tailored suite of ship management services for the new vessel, which is scheduled for completion in 2021. The ship will be equipped for conducting research that covering the whole of the marine ecosystem using advanced technology developed by Norwegian knowledge clusters…
Navios Sells Ship Management Division
The Greek seaborne shipping and logistics company Navios Maritime Holdings sold its ship management division and certain general partnership interests to N Shipmanagement Acquisition Corp. (NSAC), affiliated with company’s chairman and chief executive officer, Angeliki Frangou.The provider of transport and transshipment of drybulk commodities received aggregate consideration of $20.0 million (including assumption of liabilities) and new five-year service agreements under which NSAC will provide technical and commercial management services at fixed rates and administrative services…
LGL Announces Retirement of Robert G. Wellner
Liberty Global Logistics LLC (LGL) announced today that Robert G. (Bob) Wellner, its current President, will retire effective December 31, 2019. Mr. Wellner is a widely respected industry veteran with more than 46 years of experience in the U.S.-flag shipping and logistics industry and was a key player in the formation and growth of LGL.Mr. Wellner joined forces with Philip J. Shapiro in 2003 which led to the formation of LGL. LGL commenced operations in 2004. Mr. Shapiro had previously formed Liberty Maritime Corporation in 1988…
Flex LNG Sells Vessels in $420mln Deal
John Fredriksen-affiliated Flex LNG announced that it has entered into a sale-charter-back transaction with Hyundai Glovis for the vessels Flex Endeavour and Flex Enterprise.The shipping company focuses on the growing market for transportation of liquefied natural gas (LNG), said that under the agreement, Flex LNG will sell the vessels for a gross consideration of $420m, with a net consideration of $300m adjusted for a non-amortizing and non-interest bearing seller's credit of $120m in total.
WSM to Manage FSRU for Pardus Energy
Wilhelmsen Ship Management (WSM) has entered into a management agreement with Ireland-based Pardus Energy for their new building Floating Storage and Regasification Unit (FSRU).WSM, one of the world’s largest third-party ship manager with a portfolio of more than 450 vessels and 9200 active seafarers, will be providing ship management services for the new FSRU named “Turquoise”.The FSRU is a 170,000 CBM gas processing vessel, built at Hyundai Heavy Industry, South Korea. The FSRU…
Grieg Star, Maas Capital Form Dry Bulk JV
Norwegean shipping company Grieg Star and investment management firm Maas Capital have established a joint venture for ownership of Supramax and Ultramax vessels.The new company is named GriegMaas AS, said the ship owner, manager and operator for over 40 open hatch and conventional bulk vessels.The joint venture was established in December 2018. The companies have each 50 percent ownership of the GriegMaas joint venture.The company aims to acquire high quality Supramax- and Ultramax bulkers.
NYK Line Signs TC for Two LNG Carriers with Total
Japanese shipping giant NYK has signed a long-term contract with a unit of French energy giant Total to charter two liquefied natural gas (LNG) carriers.According to the contract, Total Gas & Power Chartering Ltd (TGPCL) will charter from NYK two newly built liquefied natural gas (LNG) carriers that will be built by Samsung Heavy Industries Co. Ltd. in Korea and scheduled for delivery in 2021.The two LNG carriers will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e.…
Seaspan Corporation Secures Credit Facility for Six Vessels
The charter owner and manager of containerships Seaspan Corporation has prepaid a credit facility which was secured by six of its vessels.Hong Kong-based shipping company said in a press release that upon completion of the collateral release documentation, this will expand Seaspan's pool of unencumbered vessels from 18, as reported in its Q3 2018 earnings press release, to 24 vessels.The release quoted Ryan Courson, Chief Financial Officer of Seaspan, as saying:"Seaspan continues to add flexibility to the Company's capital structure by de-leveraging and unencumbering vessels.
Bahri Targets Acquisitions in Asia, Middle East
Saudi Arabia's Bahri is targeting acquisitions in Asia and the Middle East as the exclusive oil shipper for state energy giant Saudi Aramco seeks to expand its reach, the chief executive said on Wednesday.Bahri is the world's largest owner and operator of very large crude carriers (VLCCs). Saudi sovereign wealth fund the Public Investment Fund (PIF) owns 22 percent of the company and Aramco has a 20 percent stake."We are looking at multiple acquisitions in the Middle East and Asia worth tens of millions of dollars…
Wallem Welcomes First Vessel Under Japanese Flag
The Aphrodite Leader, a pure car and truck carrier (PCTC), is the first vessel under Wallem Ship Management to come under the Japanese Flag.The Aphrodite Leader completed the various inspections, audits and surveys in accordance with the Japanese Flag requirements. The vessel then officially changed over to Japanese Flag upon receipt of the statutory certificates from the Japanese Government and Class NK.This marks a positive milestone as Wallem is now one of just a few international ship managers capable of managing Japanese Flag vessels.
BSM Launches a Offshore Division
In what can be construed as another positive sign for the turnaround of the offshore energy markets, Bernhard Schulte Shipmanagement (BSM) said it has set up a new business unit to focus on the oil and gas and offshore energy renewables markets.“This segment is focused on special operations and driven by different rules, so we decided to establish a dedicated expert team to specifically attend to the needs of the offshore market,” said Matthias Mueller, Managing Director of BSM…
Mark Chu Steps Down as COO of Seaspan
Seaspan Corporation, the world's largest independent containership owner operator, has announced that Mark Chu has notified the company that he plans to step down from his roles as General Counsel and Chief Operating Officer to pursue other opportunities. Chu will remain in his current roles through August 31st, 2018 to help facilitate a seamless transition. Bing Chen, President and Chief Executive Officer of Seaspan said, "I would like to thank Mark for his many contributions to Seaspan over the years.
Naval Dome, Stamco Ink Cyber Security Agreement
Maritime cyber security specialist Naval Dome has signed a contract with Piraeus-based Stamco Ship Management to install its maritime cyber defense system aboard 55 Pure Car and Truck Carriers (PCTC).Stamco Ship Management provides technical and commercial ship management services to various companies like NYK, MOL, K-Line, China Shipping, Höegh Autoliners, WWL, Eukor and Glovis.Naval Dome will install the security system onboard the vessels’ bridge, navigation, communication and machinery control systems to deliver maximum…
Russian flagged vessels in Russia to be managed by V. Group
V.Group has taken its first Russian flagged vessel into full technical management following earlier successful accreditation of the St.Petersburg office from the Russian Register. The ship management services, which will be delivered by V.Ships operations in Limassol and BGI crewing operations in St. Petersburg, are a significant milestone, marking V.Group’s entry into this market. The vessel – UMBA – owned by RPK Nord is permanently stationed in Murmansk and following successful inspection from one oil major that took place immediately after the change of management…
Anglo-Eastern Opens BWT Training Facility
Global ship management services provider Anglo-Eastern Ship Management has created a unique ballast water treatment (BWT) training facility at its Manila base in the Philippines. Working in conjunction with BWT specialist Optimarin and Saga Shipholding, Anglo-Eastern has built an essential resource for training crews in the wake of the ratification of the IMO’s Ballast Water Management (BWM) Convention. The facility, which officially opened this month, features a fully functional Optimarin Ballast System (OBS) at its heart…
V.Ships Wins Fortress Deal
V.Ships Offshore, part of V.Group has been awarded a ship management contract by Fortress Transportation and Infrastructure Investors LLC to provide full technical and crew management services for an advanced SURF/IMR vessel. The ship management services will be delivered from our newly acquired Bibby Ship Management office in Singapore led by Arvind Mohan. Nineteen specialised seafarers, with final complement subject to project requirements, are being deployed on board the 2014-built DP-3 vessel, Pride, which has been on charter in Malaysian waters.
Crowley Restructures Business Units
Crowley Maritime Corporation announced it has restructured its business units as the company aims to increase its focus on government-related business and better align vessel operations and fuel distribution services. Over the coming months, the 125-year-old company will transition its non-liner and logistics business units into three main service lines: Crowley Shipping, Crowley Fuels and Crowley Solutions. “This plan facilitates a pivot towards growing the company’s government portfolio of work…
Excelerate Buys EXMAR’s Share in Four FSRUs
Excelerate Energy has acquired the full 50 percent shares held by EXMAR in four companies, Excelerate NV, Explorer NV, Express NV and Excelsior BVBA, each owners of the respective Floating Storage and Regasification Units (FSRU) registered under the same names, and all four of which are under a long-term time charter to Excelerate Energy. The sale of the first three companies has been completed, while the sale of EXMAR’s shares in the fourth company, Excelsior BVBA, remains subject to approval by JV partner Teekay LNG and company lenders. George B.
Crowley Shipping Announces Management Team
Crowley Maritime Corp. appointed four industry veterans to oversee the consolidated lines of business under the recently formed Crowley Shipping group, which provides petroleum and chemical transportation, commercial ship management, offshore energy support and ship assist and tanker escort services in the U.S. and international markets. Crowley said the new business unit structure better aligns vessel operations and services with customers, positioning the company for greater growth and efficiency under Rob Grune, senior vice president and general manager.
Capital Ship Management, Liberty One Form JV
Capital Ship Management Corp. and Liberty One have announced the establishment of a joint venture under the name Capital Liberty Invest, taking aim at the German shipping market. The new entity will combine the forces, excellent track record and reputation of Capital and Liberty with the aim to provide commercial and technical ship operating platforms across different shipping segments and sizes in the German shipping market. The Joint Venture will seek growth opportunities in the container segment…
MOL Group Develops Onboard Labor Management Software
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that its group’s core dry-cargo ship management company, MOL Ship Management Co., Ltd. (MOLSHIP; President: Toshikazu Inaoka; Headquarters: Minato-ku, Tokyo) has jointly developed with maritime software developer Spectral Technologies, Inc. (President and CEO: Kjell B. Sundberg; Headquarters: Manila, Republic of the Philippines) a new onboard management software program called “WRH5” used to manage crews’ work and rest hours. MOLSHIP will introduce “WRH5” on its managed vessels.
MOL Group Develops Onboard Labor Management Software
Mitsui O.S.K. Lines, Ltd has announced that its group's core dry-cargo ship management company, MOL Ship Management Co., Ltd. has jointly developed with maritime software developer Spectral Technologies, Inc. a new onboard management software program called "WRH5" used to manage crews' work and rest hours. MOLSHIP will introduce "WRH5" on its managed vessels. In addition, Nippon Kaiji Kyokai issued a statement of fact that "WRH5"'s support functions are in conformity with international labor regulations. - Conformity with MLC2006 and the Japanese Mariners Law.
David Spivak Leaves Seaspan Corporation as CFO
Seaspan Corporation announced that David Spivak, Chief Financial Officer of Seaspan, has given notice that he is exercising his right to terminate his employment with Seaspan effective June 29, 2018 to pursue other opportunities. Spivak will continue in his current role until May 5, 2018, after which Ryan Courson will be appointed Chief Financial Officer and Spivak will continue with Seaspan as Special Advisor to the President and Chief Executive Officer through the end of June. Courson joined Seaspan in March 2018 as Senior Vice President of Corporate Development.