Transportation Services News

17 Jul 2019

TOP Ships Gets Loan for a Tanker

Pic: TOP Ships

Top Ships, a provider of oil, petroleum products and chemicals transportation services, has concluded a financing agreement with an undisclosed Chinese financier to refinance one of its MR2 tankers.The  Greek tanker owner and operator said in a press release that the gross proceeds from the new financing amount to $25.6m and will be used mainly to refinance the facility of M/T Stena Weco Excellence with Nord LB.The tenor of the new facility is 10 years, it added.The company also announced that it intends to enter into 2 additional Financing Agreements with the same financier at similar terms…

17 Jul 2019

CITB Expands North Slope Operations

image credit: CITB

Cook Inlet Tug & Barge (CITB), an independently managed subsidiary of Foss Maritime Company, has announced that operations on Alaska’s North Slope are officially underway for the 2019 ice-free season. Three newly acquired tugs, along with barges and shore equipment, will be operating out of Prudhoe Bay for approximately the next three months.“It is great to see these vessels on the water and ready to work,” said Jeff Johnson, President of CITB. “These shallow-draft tugs and barges…

15 Jul 2019

Containers Market to Reach $12bln by 2023

Pic: A.P. Moller - Maersk

The global shipping containers market, which amassed $9.29 billion in 2017, is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.According to a report by Allied Market Research, surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market. However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth.On the other hand…

15 Jul 2019

Safe Bulkers Begins Scrubber Program

Pic: Safe Bulkers

Safe Bulkers, the provider of marine drybulk transportation services, announced that the first scrubber was successfully installed and commissioned on MV Martine, a Japanese, Post-Panamax class vessel, built in 2009.The US-listed operator of drybulk vessels for transporting bulk cargoes said that the scrubber is open loop, U-Type, Alfa Laval PureSOx and during commissioning has been tested in several loads complying comfortably with the stricter 0.1% sulfur fuel content limit…

27 Jun 2019

Grindrod Updates on IVS Bulk Fleet

Pic: Grindrod Shipping

Singapore-based Grindrod Shipping Holdings, a global provider of maritime transportation services in the drybulk and product tanker sectors, announced a number of transactions for the purpose of modernizing its fleet and increasing its financial flexibility and liquidity.The shipping services company said in a press note that it took delivery of the IVS Phoenix, a Japanese-built eco ultramax drybulk carrier newbuilding on June 3, 2019. As previously disclosed, the vessel has been…

20 Jun 2019

GAIL Hires LNG Carrier from MOL

Pic: MOL

India's state-run natural gas firm GAIL (India) Ltd has hired a liquefied natural gas (LNG) carrier on short-term charter from Japan's shipping giant Mitsui O.S.K. Lines (MOL).MOL, the world’s largest operator of LNG carriers, in its press release, did not disclose further details of the charter deal, including the duration of the contract, the name of the ship and the day rate.GAIL is the largest natural gas Company of India with approx. 11,400 Km of cross country existing trunk pipeline network and another 4,000 Km pipelines in advance stage of completion. GAIL is ranked no.

17 Jun 2019

CRCT Signs Pact with SITC

Photo: SITC International Holdings

China Railway Container Transport (CRCT), a provider of international and domestic railway container transportation services, has signed strategic cooperation agreement with SITC International Holdings at Beijing.According to a press release from SITC, a shipping logistics company headquartered in Hong Kong, both parties expressed the desire of win-win cooperation, and exchanged ideas of promoting railway containers for overseas and intermodal rail-sea transportation business.Han boling…

14 Jun 2019

Petrobras Sells TAG, Gets $8.7 bln

Image: Petrobras

Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras) has concluded the sale of gas pipeline system Transportadora Associada de Gás S.A. (TAG) to a group led by France'sEngie SA and Canada'sCaisse De Depot Et Placement Du Quebec (CDPQ).According to a stock exchange annoucement, Petrobras received a total of 33.5 billion reais ($8.69 billion) from buyers on Thursday for the 90 percent stake it had in TAG.Petrobras will continue to use natural gas transportation services rendered by TAG…

13 Jun 2019

Algoma Expands Ocean Self-Unloader Pool

Pic: Algoma Central

The provider of marine transportation services,  Algoma Shipping Ltd announced that the acquisition of the interest held by Oldendorff Carriers in the CSL International Pool including the three vessels owned by Oldendorff operating in the Pool has been finalised.As a result of the transaction, Algoma’s interest in the Pool has increased to approximately 40%, said the subsidiary of Algoma Central Corporation.The handy-sized Algoma Verity (formerly the Alice Oldendorff) and the panamax sized Algoma Valour and Algoma Victory (formerly the Harmen Oldendorff and the Sophie Oldendorff…

11 Jun 2019

Performance Shipping Buys Aframax Tankers

Pic: Performance Shipping Inc

The provider of shipping transportation services through its ownership of containerships, Performance Shipping Inc.(PSI) announced that it has agreed to acquire two entities, which have signed contracts to purchase two 2011-built Aframax tanker vessels from an unaffiliated third party seller for a total purchase price of US$60.0 million.The transaction was unanimously approved by the disinterested members of the board of directors, said a press release from the Greece-based company.PSI will acquire the two entities affiliated with its Chairman and Chief Executive Officer…

04 Jun 2019

Matson Installs Six Scrubbers

Image: Matson

The U.S.-based provider of ocean freight transportation services Matson has begun the installation  exhaust gas cleaning systems (scrubbers) on six vessels deployed in its Hawaii and China-Long Beach Express services.The scrubbers installation is  part of its strategy to reduce fleet emissions in line with new worldwide regulations established by the International Maritime Organization (IMO) that take effect on January 1, 2020. Three of the vessels will receive the new equipment…

29 May 2019

Safe Bulkers Ready for IMO Target with Scrubbers

Pic: Safe Bulkers

Safe Bulkers, the provider of marine drybulk transportation services, said that it is on schedule in implementing its environmental investments installing scrubbers in approximately half of its  fleet during 2019 in anticipation of the effectiveness of the IMO sulphur cap regulations in 2020."We also remain committed to installing ballast water treatment systems in each of our vessels," said Dr. Loukas Barmparis, President.Safe Bulkers said that its managers are certified in accordance with ISO 14001 and ISO 50001 related to environmental performance and energy efficiency…

24 May 2019

Danaos Signs Sale-and-Leaseback Deal with EnTrust

Pic: Danaos Corporation

The provider of seaborne transportation services, Danaos Corporation has concluded a $150m sale-and-leaseback deal for two of its biggest boxships with the alternative investment firm EnTrust Global.Watson Farley & Williams (WFW) has advised EnTrust Global’s (ETG) Blue Ocean Funds on the transaction of the two container vessels “HYUNDAI RESPECT” and “HYUNDAI HONOUR” acquired from and chartered back to two subsidiaries of Danaos, said a press release.This is the Blue Ocean Funds’ first sale and leaseback in the Greek shipping market…

24 May 2019

Seaspan Orders Two LNG Battery Hybrids

Image: Seaspan Ferries

Canada's Seaspan Ferries will add two new Liquid Natural Gas (LNG) - battery hybrid ferries to its fleet in 2021.The vessels will be constructed by Damen Shipyards Gorinchem B.V. at their Mangalia Shipyard in Romania, said a press release from the marine transportation services provider.With construction scheduled to begin in 2019, the vessels are expected to go into operation in 2021. They will join the Seaspan Swift and the Seaspan Reliant, the company’s first hybrid ferries…

22 May 2019

Diana Shipping Fixes Baltimore with Koch

Pic: Diana Shipping Inc

Diana Shipping has entered into a time charter contract with the Singapore-based provider of shipping transportation services Koch Shipping, for one of its Capesize dry bulk vessels, the m/v Baltimore.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$15,000 per day, minus a 5% commission paid to third parties, for a period of about 19 months to about 22 months. The charter commenced on May 19, 2019.The “Baltimore” is a 177…

16 May 2019

Shea to Receive 2019 Connie Award

Bill Shea (Photo: CII)

William J. “Bill” Shea, Jr. to Receive 2019 Connie Award in Long Beach, CAJ. Christopher Lytle to Be Honored with the Lifetime Achievement AwardWilliam J. “Bill” Shea, Jr., Chief Executive Officer of Direct ChassisLink Inc. (DCLI), will receive the 2019 Connie Award presented by the Containerization and Intermodal Institute on September 17. The industry-wide event to honor Mr. Shea will be held at the Renaissance Hotel in Long Beach, CA.In his current position, Mr. Shea has been…

03 May 2019

Nauticor Acquires World's Biggest LNG Bunkering Ship

Kairos. Photo: Nauticor

AB Klaipedos nafta (KN), the operator of oil products and liquefied natural gas (LNG) terminals, and the German company Nauticor GmbH & Co. have agreed on the sale of KN’s 10% stake in the charter contract of Kairos, the world’s largest LNG bunker supply vessel to Nauticor.This leaves the world's biggest LNG bunkering vessel at Nauticor's disposal. The transfer shall become effective as of 30 September 2019, said a press release.World’s largest LNG bunker supply vessel Kairos started operations in Q4/2019.

29 Apr 2019

Grindrod Shipping Holdings Sells Two Vessels

Pics: Grindrod Shipping Holdings

Grindrod Shipping Holdings, the provider of shipping services across dry-bulk and liquid, announced that it has contracted to sell to unaffiliated third parties two vessels in in two separate transactions.The global provider of maritime transportation services in the drybulk and product tanker sectors said that the vessels are the 2005-built handysize drybulk carrier IVS Kawana for a gross price of US$7.8 million and the 2011-built small product tanker Umgeni for a gross price of US$8.875 million.The IVS Kawana is expected to deliver to the new owners on April 30…

29 Apr 2019

Port NOLA Names Mike Stolzman as GM

Image: Port NOLA

The New Orleans Public Belt Railroad Corporation (NOPB), a wholly owned subsidiary of the Port of New Orleans (Port NOLA), has named M.D. (Mike) Stolzman as its new General Manager, effective immediately.Stolzman, a veteran railroad executive with extensive short line and Class I rail experience, will report to Brandy D. Christian, President and CEO of Port NOLA and CEO of NOPB, which is a Class III railroad on the nation’s fourth largest rail gateway that connects with six Class…

25 Apr 2019

FESCO Optimizes the Rotation

Pic: FESCO Transportation Group

Russian shipping company FESCO Transportation Group announced that as part of the development of FESCO Fast Forward services it is optimizing the rotation and changing the names of regular shipping lines from China and the Republic of Korea to Russia.Transportation services between China and Russia will be carried out under the brand FESCO China Express, and between the Republic of Korea and Russia - under the brand FESCO Korea Express.FESCO China Express will operate on two routes…

24 Apr 2019

Teekay LNG Partners Bags New 3-Year Charter

Pic: Teekay

Teekay GP, the general partner of Teekay LNG Partners, has secured a new, 3-year fixed-rate charter contract for the Magellan Spirit LNG carrier to an integrated oil and gas company commencing during the summer of 2019. Concurrently, Teekay LNG extended the in-charter of the Magellan Spirit until the summer of 2022, said a release from the marine energy transportation, storage & production company."Including the new, 3-year charter announced today, the Partnership’s LNG carrier fleet is approximately 97…

17 Apr 2019

Eimskip, Royal Arctic Line Pact Okayed

Pic: Royal Arctic Line

The oldest shipping company in Iceland Eimskipafélag Íslands (The Icelandic Steamship Company), also known as Eimskip, said that its collaboration with the national carrier of Greenland Royal Arctic Line and an Icelandic shipping company has been approved by the Icelandic authorities.As part of the cooperation, three 2,150 TEU container vessels are being built in China with expected delivery late 2019. Two vessel are being built for Eimskip and one for Royal Arctic Line.The vessels will be used in weekly services between Greenland, Iceland, Faroe Island and Scandinavia.

04 Apr 2019

Furetank Orders Dual Fuel Product Tanker

Image: Furetank

Sweden's Furetank Rederi AB has signed a contract for one 17,999 dwt dual fuel product tanker at Avic Dingheng Shipbuilding.The agreement with the yard includes an option for one further vessel, said a press release from the provider of marine transportation services through product and chemical tankers.The new vessel will be identical with the series of six sister vessels built by Avic Dingheng Shipbuilding for Furetank Rederi AB, Rederi AB Älvtank and Erik Thun AB during 2018‐2019.All vessels are designed with special focus on minimal impact on the environment and has dual fuel capability…

Maritime Reporter Magazine Cover Jul 2019 - Cruise Vessel Design & Outfit

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