Marine Link
Wednesday, February 21, 2018

Shipping News

Germany and Greece: Worst Vessels Dumpers

Image: NGO Shipbreaking Platform

As in 2016, Germany and Greece top the list of country dumpers in 2017, according to new data released today by the NGO Shipbreaking Platform. German owners, including banks and ship funds, beached 50 vessels out of a total of 53 sold for demolition. Greek owners were responsible for the highest absolute number of ships sold to South Asian shipbreaking yards in 2017: 51 ships in total. Since the Platform’s first compilation of data in 2009, Greek shipping companies have unceasingly topped the list of owners that opt for dirty and dangerous shipbreaking.

Nor-Shipping Partners with ‘Lifesaver’ Mercy Ships

Photo: Nor-Shipping

Leading maritime event week Nor-Shipping has announced that Mercy Ships has been selected as its new charity partner. The global organisation, which celebrates its 40th anniversary this year, will receive financial support and promotion throughout Nor-Shipping’s maritime and ocean industry network, supporting its vital work helping and healing those in need. Nor-Shipping 2019, taking place across a series of venues in Lillestrøm and Oslo between 04 – 07 June 2019, will help raise funds and awareness for Mercy Ship’s state-of-the-art Africa Mercy vessel.

Global Ship Lease Extends Charter with OOCL

OOCL Qingdao. Photo: OOCL

Global Ship Lease, a containership charter owner, today announced that it has agreed to an extension of its charter with OOCL for the OOCL Qingdao, a 2004-built, 8,063 TEU containership. The extension commences in direct continuation of the current charter with effect from March 11, 2018, at a fixed rate of $14,000 per day. Earliest redelivery is now January 1, 2019, with latest redelivery March 15, 2019 (at charterer's option). Global Ship Lease is a containership charter owner.

EIB, ING Earmark USD 370.3 mln for Green Shipping

Photo: European Investment Bank

The European Investment Bank (EIB) and Dutch multinational banking and financial services corporation ING signed an agreement to support green investments for the European shipping market for a total value of EUR 300m  (USD 372.5million). ING and EIB will each contribute EUR 150m to the facility. This agreement will ensure that sponsors of green and sustainable projects in the maritime transport sector can benefit from advantageous financial terms. The facility is available to clients with significant European interests…

Hedge Funds Hook Shipping Stocks Grappling for Recovery

Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks. Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial forays into shipping stocks in the third quarter of 2017, but significantly stepped up their bets in the final three months of the year, U.S. Securities and Exchange Commission filings compiled by Symmetric show. "Shipping has been in a terrible trough for a number of years," Chris Walvoord, global head of hedge fund research at investment consultant Aon Hewitt, said. "Hedge funds are starting to see opportunity ...

Spliethoff Sending 6 Ships to BLRT for Refit Work

(Photo: BLRT)

Dutch shipping company Spliethoff's Bevrachtingskantoor B.V. has signed contracts with BLRT Grupp to have scrubbers (systems for cleaning exhaust gases) and ballast water treatment systems installed on board six of its ships. The latest contract for the modernization of Spliethoff's F-type ships (deadweight up to 12,500 tons) follows an earlier agreement to install ballast water treatment systems aboard the company’s 14 S-type vessels (deadweight up to 21,500 tons). "Work on modernization of ships has already begun and will continue until the beginning of 2020.

835 Ships Sold to Scrap Yards in 2017

© knovakov / Adobe Stock

More than 800 large oceangoing commercial vessels were sold to the scrap yards in 2017, according to the latest data from the NGO Shipbreaking Platform. Of the 835 ships sold to scrap yards, 543 vessels – or 80.3 percent of total tonnage dismantled globally – were broken down on the beaches of Bangladesh, India and Pakistan. However, the number of vessels and total GT scrapped in the tree nations decreased compared to 2016. Still, of the 20.7 million GT dismantled worldwide in 2017, 16.6 million GT was on the beaches.

Two Littoral Combat Ships Named

File photo: Littoral Combat Ship USS Coronado (LCS-4) in December 2017 (U.S. Navy Photo by Anthony N. Hilkowski)

The U.S. Navy’s next two Littoral Combat Ships will be named USS Nantucket (LCS 27) and USS Savannah (LCS 28), announced Secretary of the Navy Richard V. Spencer. The future USS Nantucket (LCS 27), a Freedom-variant Littoral Combat Ship to be built by Fincantieri Marinette Marine in Marinette, Wis., will be the third commissioned U.S. Navy ship to honor the maritime history of Nantucket. The future USS Savannah (LCS 28), an Independence-variant Littoral Combat Ship to be built by Austal USA in Mobile, Ala., is the sixth ship to bear the name of Georgia’s oldest city.

Navy's Newest Expeditionary Fast Transport Ship Named

File photo: The first Expeditionary Fast Transport ship, USNS Spearhead (T-EPF 1)( U.S. Navy photo by Jeremy Starr)

The U.S. Navy’s next Expeditionary Fast Transport (EPF) ship will be named USNS Newport (T-EPF 12), announced Secretary of the Navy Richard V. Spencer. The new vessel, currently under construction at Austal USA in Mobile, Ala., is the fourth ship named in honor of the Rhode Island city which serves as home to several Navy activities, including Naval Station Newport and the Naval War College. USNS Newport is the 12th and final vessel in the EPF in the series, formerly known as the Joint High Speed Vessel (JHSV).

Shipbreaking Case Against Seatrade in Dutch Court

Photo: NGO Shipbreaking Platform

For the first time in Europe, Public Prosecutors are bringing criminal charges against a ship owner – Seatrade – for having sold vessels to scrap yards in countries “where current ship dismantling methods endanger the lives and health of workers and pollute the environment”. The case is being heard in a Rotterdam Court this week, and the Dutch Public Prosecutor calls for a hefty fine (2.35 mill EUR) and confiscation of the profits Seatrade made on the illegal sale of four ships, as well as a six month prison sentence for three of Seatrade’s top executives.

Turkish Blockade off Cyprus 'out of Eni's control'

A Turkish blockade of a ship hired by Eni to drill for gas off the Cyprus coast is a diplomatic issue that is out of the Italian oil company's hands, Eni's CEO said on Friday. Last week, the Saipem 12000 drill ship heading from a location southwest of Cyprus towards an area southeast of the island was stopped by Turkish military ships and told not to continue because of military activities in the destination area. The ship is still halted, a Saipem spokesman said. Asked about the incident, Claudio Descalzi said Italy, Europe, France, Cyprus and Turkey were discussing the issue. "It's not really under our control," he told analysts during a conference call on the company's fourth quarter results.

GC Rieber Shipping Secures Contract for Polar Queen

Polar Queen. Photo: GC Rieber Shipping

Norwegian shipping company GC Rieber Shipping has entered into a time charter agreement with a European offshore client for the CSV vessel Polar Queen for a fixed period of four months with options to extend by up to one month. With this charter, all GC Rieber Shipping subsea vessels have secured contracts for the summer season 2018. The Polar Queen will be used in British sector to perform walk-to-work duties and commencement will be in May 2018. "We are pleased to see Polar Queen build on her success in the walk-to-work market and secure a new substantial charter with a Tier 1 client.

Cruise Ships & Eco-Trends in Energy Transition

Hurtigruten's hybrid vessels. (Images Courtesy: Hurtigruten)

Around 360 cruise vessels are operating on the ocean today, transporting thousands of passengers to both new and established locations across the world. The Cruise Boom relishing the industry in recent years has driven growth and advancement with 93 new vessels now under construction showcasing the latest technology available today. Now, the rising popularity of remote and adventurous routes such as the Polar Regions and UNESCO heritage sights has raised concerns about the impacts on marine environments and coastlines.

Hafnia Tankers Inks Fresh Sale and Leaseback Deal

Photo: Hafnia Tankers

Denmark-based shipping company Hafnia Tankers has successfully completed a sale and leaseback in the Japanese market through the sale and leaseback of its 2010 built LR1 tanker, MT Hafnia Australia. The Vessel has been sold to a Japanese private ship owning company (the Lessor) with a 12-year bareboat charter back with annual purchase options from year four onwards. The Transaction entailed a sale of the 74,539 dwt ship at market value and a fully levered lease arrangement which gives rise to a positive liquidity effect of approx.

Fire on Ship Under Repair Kills 5 in India

A blast caused by a fire on a ship under repair at India's Cochin Shipyard Ltd killed five people on Tuesday, and injured around 11, a company spokeswoman said, prompting the government to call for a quick enquiry. The spokeswoman said smoke hampered rescue operations initially and that an investigation would be launched soon. The ship belongs to the country's top energy explorer, Oil and Natural Gas Corp Ltd, she added. An ONGC official said the ship was undergoing maintenance at state-run Cochin Shipyard on the country's southwest coast. The blast took place inside the water tank, said M.P. Dinesh, a senior police official in the southern state of Kerala where the shipyard is located.

Belships Updates Fleet Status

M/S Belnippon. Photo: Belships ASA

M/S Belnippon was delivered from Imabari Shipbuilding in January and has been fixed on time charter to Cargill for 10-13 months at USD 11,500/day, says a statement from Oslo-based bulk ship operator Belships. Belships concentrates on the dry bulk market, with 6 modern Supramax/Ultramax in service. M/S Belstar, M/S Belnor and M/S Belisland have continued the long-term contracts to Canpotex of Canada. Canpotex is one of the world's largest exporters of potash, a fertilizer product imported in large volumes by countries such as China, India and Brazil.

BIMCO Lists Three Best Performing Bulk Terminals

Photo: Santander Port Authority

The three best performing dry bulk terminals in the world are Santander and Bilbao in Spain and Quebec in Canada, according to BIMCO’s 2017 Dry Bulk Terminals Vetting Report. Santander was rated first in all four major categories: terminal handling of loading/unloading; terminal mooring and berthing arrangements; information exchange between the ship and the terminal and terminal equipment. The report evaluates terminal and port performance from around the world to improve safety standards and the turnaround time of ships calling ports.

High Seas Standoff: Cyprus Says Turkey Blocks Drill Ship

Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting tensions over offshore resources in the east Mediterranean. A spokesman for Eni said on Sunday the Saipem 12000 drill ship had been heading from a location southwest of Cyprus towards an area southeast of the island on Friday when it was stopped by Turkish military ships and told not to continue because of military activities in the destination area. Turkey, which does not have diplomatic relations with Cyprus, claims that certain areas in Cyprus's offshore maritime zone, known as an EEZ, fall into the jurisdiction of Turkey or that of Turkish Cypriots.

NYSHEX Adds New Members in its Council

From left: Bjorn Jensen, Jochen Gutschmidt and Nick Fafoutis. Photo: NYSHEX

The New York Shipping Exchange (NYSHEX), the container shipping industry’s solution for digital and enforceable freight contracting,  has announces the appointment of new members to its board of directors and launch of the governing NYSHEX Member Council. This announcement follows the Federal Maritime Commission’s (FMC) December 2, 2017 approval of the NYSHEX governance model. NYSHEX now ushers in a fair, transparent and compliant process to ensure the interests of members are incorporated into the operation of the exchange.

Golden Ocean Boosts Dividend as Q4 Financials Beat Street

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

Dry bulk shipper Golden Ocean proposed a bigger than expected dividend for the fourth quarter on the back of forecast-beating results on Tuesday, and reiterated the market was getting better. The company, controlled by Norwegian-born billionaire John Fredriksen, returned to profit in the third quarter thanks to improving market conditions and demand for renting ships. On Tuesday, Golden Ocean said it would pay a dividend of $0.10 per share against expectations for $0.02 in a Reuters poll of analysts.

Silver Ships Hires Lobree as Federal Contracts Manager

Shawn Lobree (Photo: Silver Ships)

Silver Ships, Inc. announced the hiring of Shawn Lobree, a recently retired U.S. Navy captain, as Federal Contracts Manager. Lobree has more than 25 years of military experience in maritime operations, human resources, information technology, shipbuilding and repair. His skillset will help give Silver Ships military customers a seamless contract and build process experience. In addition to his service in the Navy, Lobree’s career has included working as a maritime and defense consultant and assistant to a shipbuilding supervisor.

Norwegian Flag Raised to 10-year High

Director General of Shipping and Navigation, Olav Akselsen, hoisting the Norwegian flag during a flag change ceremony (Photo: Helga Maria Sulen Sund/Sjøfartsdirektoratet)

There were 600 ships registered in the Norwegian International Ship Register (NIS) by the end of January, making the highest number of ships in the register since 2008. The ship register had been characterized by decline until 2015; there were 522 ships in the NIS in 2014. In order to reverse the negative trend, the Norwegian government presented several measures as tpart of its maritime strategy that, among other things, relaxed the trade area restrictions for NIS-registered ships and strengthened the grant scheme for the employment of Norwegian seafarers.

Five Killed in Blast Onboard Modu Sagar Bhushan

Image by Cochin Shipyard Ltd

Five people were killed and 7 injured yesterday (February 13),  in an unfortunate fire incident onboard Sagar Bhushan, an oil rig of ONGC, undergoing repairs at Cochin Shipyard. The Chairman and Managing Director of Cochin Shipyard has announced an  immediate ex gratia of INR 10 lakhs (USD 15560) for the families of the deceased. All treatment expenses of the injured will be met by the company as per its existing policies. All necessary assistance is  being provided by the  Company to those affected,  and the entire senior leadership is monitoring the process.

Maritime Reporter Magazine Cover Feb 2018 - Cruise Ship Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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