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Wednesday, December 19, 2018

Transportation News

Sovcomflot completes USD 900 mln in Foreign Investment

Nikolay Kolesnikov, Senior Executive Vice-President and CFO of Sovcomflot (sitting in the centre) together with the signees from KfW IPEX-Bank, Credit Agricole, ING Bank, Societe Generale, Citibank, UniCredit, and DVB Bank (sitting, from left to right). Photo: Sovcomflot

Russia’s maritime shipping company Sovcomflot has announced that it has entered into a new USD 264 million six-year revolving credit facility with a consortium of five leading international banks.The completion of this credit facility marks the successful finalisation of SCF’s 2018 financing plan, with total new debt capital raised this year amounting to circa USD 900 million, said Nikolay Kolesnikov, Senior Executive Vice-President, Chief Financial Officer of PAO Sovcomflot."The fund allows us to fully address the Group’s mid-term financing requirements…

Ardmore Shipping Appoints Curtis McWilliams as Chairman

(L-R) Reginald Jones and Curtis McWilliams. Photo: Ardmore Shipping

The US-based chemical tanker company  Ardmore Shipping Corporation announced that Reginald L. Jones is stepping down as Chairman of the Board of Directors of the Company effective December 31, 2018. Curtis McWilliams has been appointed as Chairman of the Board effective January 1, 2019, said a stock exchange announcement from the company.Jones will remain as a director until the Company's annual general meeting in 2019, when he does not intend to stand for re-election. He is a co-founder and Managing Partner of Greenbriar Equity Group LLC…

Indonesia Approves Eni’s Merakes Project

Image: Eni

Italian energy giant Eni announced that Indonesia has approved its investment plan for the Merakes project, located in the Kutei Basin, offshore East Kalimantan.Eni will now start work on developing the project, which will involve drilling and constructing subsea wells in water depths of 1,500 metres. These will be connected to the Jangkrik floating production unit 35 km northeast of the site.he gas production will be shipped to the Bontang LNG plant using also all the other existing facilities of Jangkrik field as well as the East Kalimantan transportation network.

Uniper, Mitsui OSK Lines Press Ahead German FSRU

Image: Mitsui OSK Lines

German energy group Uniper and Japanese shipping group Mitsui OSK Lines (MOL) have agreed to intensify efforts on the Wilhelmshaven FSRU (Floating Storage and Regasification Unit) project in Germany, which could start up as early as H2 2022.The FSRU has a planned send-out capacity of 10 bcm/a and liquefied natural (LNG) storage capacity of 263,000 m³, said a press release from Uniper, the international energy company with operations in more than 40 countries.The project benefits from the existing site in Wilhelmshaven where required infrastructure is already in place.

Drewry: Ocean Freight Shipping Rates Fall in Q4

Graph: Drewry Shipping Consultants Limited

Ocean freight rates for cargoes moving under contracts on major East-West routes decreased by 7% in the fourth quarter, according to the results of Drewry’s Benchmarking Club Contract Index.The cost reduction, based on contract freight rate data provided confidentially by Asian, American and European retailers and manufacturers to the Benchmarking Club, shows that shippers who negotiate well with carriers can continue to reduce their multi-million freight spend on most East-West routes, despite the increases in bunker prices during the past year.

Schlueter Joins Bouchard Transportation

Scott Schlueter, BTC's new Vice President of Maintenance and Repairs and New Construction.

Bouchard Transportation Co., Inc. said that Scott Schlueter has joined the company as Vice President of Maintenance and Repairs and New Construction.In this role, Schlueter will oversee the day-to-day operation of Bouchard’s Maintenance and Repairs department. His primary responsibilities will include managing all fleet maintenance and repair activities, regulatory shipyard periods, fleet enhancements, and new construction projects.Schuleter is a licensed engineer with more than 20 years of experience working in the maritime industry.

Shipbuilding: Hurtigruten Hybrid Construction Forges Ahead

The first of Hurtigruten’s new hybrid powered expedition cruise vessels, the MS Roald Amundsen, under construction at the Kleven Yard in Ulsteinvik, Norway: delivery is expected in May 2019. (Photo: Tom Mulligan)

Norwegian company Hurtigruten, the world’s largest expedition cruise operator, is continuing to push the boundaries when it comes to green travel with its order for three hybrid-powered vessels nearing completion, the first ship being due for delivery in May 2019.Two of these revolutionary ships are currently under construction at the Kleven Yard in Ulsteinvik, Norway, the MS Roald Amundsen and its sister ship, the MS Fritjof Nansen, both of which are custom-designed to cope with some of the most extreme conditions seen on our planet, each having a specially-designed, ice-strengthened hull.

Maritime Autonomy: Sea Machines Gets a $10M Investment

"I think this investment sends a strong signal on the types of technologies that will come to define the maritime industry in the future," said P. Michael A. Rodey, senior manager, A.P. Moller-Maersk. In the first quarter Sea Machines will initiate testing of its perception and situational awareness technology aboard one of A.P. Moller-Maersk's new-build ice-class container ships. Image: Sea Machines

While there remains much debate as to what an autonomous future looks like in the maritime sector, one company, Sea Machines, is helping to pace the field with product development, partnerships and investment.Sea Machines Robotics announced today that it had closed a $10 million Series A investment led by Accomplice VC, with participation from several corporate titans including Toyota AI Ventures; Brunswick Corp., through investment partner TechNexus Venture Collaborative; Eniac Ventures…

Nigerian Ports Authority Calls for Eradicating Port Congestion

Pic: Nigerian Ports Authority

The Managing Director of Nigerian Ports Authority, Hadiza Bala Usman, has called on terminal operators, shipping companies, port managers and allied stakeholders to do all they could to eradicate or at best mitigate the effects of the present congestion at the nation’s seaports.According to the Managing Director, the issue of ports congestion should be of concern to all and therefore they should look into the issue of evacuation of empty containers, increase in free days of storage…

Navios Acquisition Completes Navios Midstream Merger

Pic: Navios

Greece-based Navios Maritime Acquisition Corporation announced that it completed the acquisition of Navios Maritime Midstream Partners. "Following the close of the market on December 13, Navios Midstream common units no longer are publicly traded on the New York Stock Exchange," said a press release from the owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.Angeliki Frangou, Chairman and Chief Executive Officer…

Campbell Transportation Appoints Buese EVP

Campbell Transportation Company, Inc. said that Kyle Buese will be joining the company as Executive Vice President of Operations effective January 7, 2019.Buese is a graduate of Tulane University where he received his Master of Business Administration degree and a graduate of Loyola University of New Orleans where he received his Bachelor of Business Degree. Buese is also an active CFA charterholder.Buese has worked at Kirby Corporation since 2006 where he has served in several key roles including General Manager, River Vessel Operations; General Manager, Vessel Operations; and Regional General Manager, Marine Systems Inc. In addition to Buese’s various roles within Kirby Corporation…

Containerships Receives First LNG-powered Boxship

M/S Containerships Nord photographed during her sea trials in November. Photo: Containerships

Multimodal transporter Containerships Plc announced the delivery of its first LNG-powered container vessel, M/S Containerships Nord. She was delivered to Containerships at Wenchong Shipyard, China, on 12.12.2018.A press release from the Finland-headquartered shortsea specialist said that its LNG-story started in 2013, when the decision to build the new environmentally-friendly LNG-powered vessels was taken.LNG is a relatively new fuel source, and these vessels would be the first newbuilds based on this technology to serve regularly European ports and trade…

Scorpio Bulkers Gets Work for SBI Hera

Pic: Scorpio Bulkers

Scorpio Bulkers Inc, shipping company, owns and operates dry bulk carriers,  announced that it has entered into a time charter-out agreement with an unaffiliated third party for SBI Hera, one of its Ultramax drybulk carriers.According to a press release from the provider of marine transportation of dry bulk commodities, the charter is for a period of between four and six months at a rate of $14,850 per day.Recently, it has entered into a time charter-out agreement with an unaffiliated third party for SBI Libra…

Bombardier Wins USD453mln Chinese Govt Rail Contract

Pic: Bombardier Sifang (Qingdao) Transportation

Global mobility solution provider Bombardier Transportation's Chinese joint venture (JV) has won a $453 million contract to supply 168 high-speed train cars to state-owned China Railway Corp (CRC).According to Bombardier Sifang (Qingdao) Transportation (BST), the JV, it is the second order win this year for China’s growing high-speed network."The new contract, awarded by CRC, is to supply 168 CR400AF new Chinese standard high-speed train cars and is valued at approximately CNY 3.1 billion ($453 million)…

Brazil’s Itaqui Port and Panama Canal Sign MOU

Photo: Panama Canal Authority (ACP)

The Panama Canal has signed a memorandum of understanding with the Port of Itaqui to promote the shipment of grains and other cargoes in the commercial route from Brazil through the Panama Canal to destinations located in the Pacific Ocean.Itaqui, located in São Luís, Maranhão, is the Brazilian port closest to the Panama Canal. It  has the infrastructure and connectivity necessary to move these exports to markets in Asia."With this agreement, the Panama Canal looks to promote…

Columbia Gets USD 229.23 mln for Port Projects

Image: American Association of Port Authorities (AAPA)

U.S. Transportation Secretary Elaine L. Chao announced 14 grants, which go to port-related projects, are made through the Better Utilizing Investments to Leverage Development (BUILD) Transportation Grants program.Port-related projects will receive a total of $229.23 million, said a press release from American Association of Port Authorities (AAPA).“BUILD transportation grants are major investments in road, rail, transit, and port projects that serve as a down payment on this administration’s commitment to America’s infrastructure…

Quantum Pacific: $40m 'Green Loan' for Scrubbers

Image: Quantum Pacific Shipping Services

Singapore-based Quantum Pacific Shipping (QPS) has received a loan from BNP Paribas to finance the purchase and installation of exhaust gas cleaning systems on its vessels.The loan up to $40 million is arranged on Quantum Pacific’s behalf by its management company Eastern Pacific."BNP Paribas is the lender, agent and security trustee for the Green Loan, which finances the cost of purchasing and installing marine exhaust gas cleaning systems (Scrubbers) for 16 vessels under the QPS fleet…

MOL, Proman Shipping Name Methanol Carrier CASTARA

At the naming ceremony. Photo by Mitsui O.S.K. Lines

Switzerland's Proman Shipping and Mitsui O.S.K. Lines(MOL) announced that  a naming ceremony for a newbuilding Methanol Carrier for Proman Shipping was held at the Hyundai Mipo Drydock (HMD) in Korea.The vessel was named the CASTARA by Methanol Holdings (Trinidad) Limited. (MHTL) CEO Dennis Patrick. MHTL and Proman Shipping are subsidiaries of the Proman Group.The CASTARA will be the most eco-friendly and fuel-efficient vessel in Proman Shipping’s expanding fleet.David Cassidy…

2018 Green Apple Spill Exercise

Committed to providing tugboat and towing vessel operators with a platform to meet regularity requirements and collaborate with local resources, the annual event also reminds us that Proper Planning Prevents Poor Performance.On September 28 2018, American Marine Associates, LLC (AMA) coordinated and hosted the 3rd annual Green Apple Spill Response Exercise in Bayonne, NJ. The Green Apple Spill Response exercise was established specifically for the tugboat and towing vessel industry operating in New York Harbor.

NYK in Charter Agreement with Mitsubishi

Image of LNG carrier to be built by NYK Line

Japanese shipping and logistics giant Nippon Yusen Kabushiki Kaisha (NYK) has signed long-term contracts with Diamond Gas International Pte. Ltd. (DGI), a wholly owned subsidiary of Mitsubishi Corporation (MC) located in Singapore, for DGI to charter from NYK three newly built liquefied natural gas (LNG) carriers.Previously, NYK concluded long-term time-charter contracts for three new LNG vessels for MC’s Cameron LNG project, so these most recent contracts bring the total to six carriers for MC.The NYK Group will be responsible for ship management for the three ordered LNG carriers…

Eastern Shipbuilding Group Launches Ava M. McAllister

(Photo: Eastern Shipbuilding Group, Inc.)

Florida-based shipbuilder Eastern Shipbuilding Group announced the launch of the Escort/Rescue ZDrive Tug Ava M. McAllister for McAllister Towing & Transportation Company, Inc. on December 7, 2018, 58 days after Hurricane Michael devastated the Florida Panhandle.The family held shipbuilding company said in a press note that this Escort/Rescue Z-Drive Tug design provided by Jensen Maritime Consultants is currently under construction at Eastern’s Allanton facility.The vessel arrived at Eastern earlier this year and is scheduled to deliver the 2nd quarter of 2019…

NTSB Issues Report on Passenger Vessel Casualty

(This graphic depicts a simplified diagram of the cooling water system aboard the small passenger vessel Island Lady. The NTSB’s investigation of the Jan. 14, 2018, fire aboard the vessel revealed that the failure of the port engine’s raw-water pump led to overheating of the engine and exhaust tubing, which led to the fire. Diagram by NTSB)

Insufficient Maintenance Program, Lack of Guidance Led to Passenger Vessel Fire. The National Transportation Safety Board determined during a public meeting held Tuesday that an insufficient preventative maintenance program and lack of guidance for responding to engine high-temperature conditions, led to the Jan. 14, 2018, fire aboard the small passenger vessel Island Lady, in the waters of the Pithlachascotee River, near Port Ritchey, Florida.The Island Lady was a 72-foot-long passenger vessel operated by Tropical Breeze Casino Cruz…

APL, Cheng Lie Navigation to Merge Intra-Asia Service

Image: Cheng Lie Navigation

The container transportation and shipping company American President Lines Ltd (APL) announced the proposed acquisition of the book of business of its sister company Cheng Lie Navigation (CNC), Taiwan's Intra-Asia carrier.With this, APL will consolidate all its Intra-Asia business under the CNC brand to be operated from Singapore, retaining both sales networks and all sales channels.“This strategic move will enable us to become the Intra-Asia Champion with the most comprehensive market connectivity in the Far East.

Maritime Reporter Magazine Cover Dec 2018 - Great Ships of 2018

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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