Wah Kwong News

BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can ensure the charterers’ uninterrupted use of a ship if the owner defaults under the financing facility. The QELs will be provided by the lender to the charterer to ensure that the charterer, who does not have a contractual relationship with the lender but only with the owner, can continue to “quietly enjoy” the ship in case of the owner’s default.

Bureau Veritas (BV) has delivered an Approval in Principle (AiP) to Wah Kwong Maritime Transport Holdings, a Hong Kong shipowner, for a carbon capture and storage (CCS) project onboard two of its vessels.Partnering in the project is Qiyao Environmental Technology, a subsidiary of Shanghai Marine Diesel Engine Research Institute.The AiP follows a joint study which validated the technical feasibility of using CCS technology on existing vessels. Wah Kwong provided two vessels from its fleet for the study: a 53…

BIMCO, the world’s largest shipping association, has elected Nikolaus H. Schües, CEO and owner of Reederei F. Laeisz as President at the organization's general meeting in Hong Kong on Thursday.Schües takes over as the 46th President of BIMCO and the first German national holding the position since 2011. He takes over from Sabrina Chao of Wah Kwong Maritime Transport Holdings Limited, who has completed her two-year term.“I am honoured to be elected President of an organization…

CS Hunan Venture very large crude carrier, dubbed one of the most advanced and energy-efficient VLCCs ever built in China, was recently launched by Dalian Shipbuilding Industry Group (DSIC).The vessel is owned by China Shipbuilding Consulting Company and operated by Wah Kwong Ship Management Hong Kong.Fan Qiang, Vice President of China Classification Society which conducted extensive survey of the vessel, said the CS Hunan Venture’s innovative design means its Energy Efficiency Design Index (EEDI) is more than 20pc below the baseline…

Sabrina Chao has been named the 45th president of international shipping association BIMCO, taking over from Şadan Kaptanoğlu, managing director of Kaptanoglu Shipping, who has completed her two-year term.Chao has been in the shipping industry since 2001 and joined the family business Wah Kwong Maritime Transport Holdings Limited in 2002. Chao held the position as chairman of the group from 2013 until August 2019 and from 2016, she served a two-year term as chairman of the Hong Kong Shipowners Association.

The world’s largest shipping association BIMCO has elected Şadan Kaptanoğlu, managing director of HI Kaptanoglu Shipping, as its new President.“It is a great privilege for me to chair the BIMCO Board of Directors in this crucial time of change for shipping. The environment and climate change are key public concerns and getting the shipping industry to embrace this reality - and delivering the solutions to meet the world’s environmental expectations – will be my priority,” Kaptanoğlu says.She underlines that BIMCO is both the oldest and largest global association representing shipowners and has the depth of resources and capability to best shape future regulations for shipping at the International Maritime Organization (IMO).Not only is BIMCO a global organisation representing its 1…

Award to be presented March 14, 2018 at the conclusion of the CMA’s Shipping 2018 Annual Conference and Exposition. Ms. Sabrina S. M. Chao, Executive Chairman of Wah Kwong Maritime Transport Holdings Ltd. has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2018. Ms. Chao follows a long succession of influential maritime industry leaders as Commodore. The 2018 Commodore Award will be presented on March 14, 2018 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford, Connecticut, USA. The Award is given each year to a person in the international maritime industry who has contributed to the growth and development of the industry.

Following a long illness George Chao, a shipping legend in Hong Kong and president of Wah Kwong Maritime Transport, died, aged 76, in hospital. WAH Kwong Maritime Transport Holdings, established 64 years ago, is now one of the largest privately owned shipowners in Hong Kong. George Chao is one of four sons of T.Y. Chao, the founder of Wah Kwong, and father of Sabrina Chao, the current chairman of the company. The Chao family represents one of the most prominent of Hong Kong’s shipping dynasties. Wah Kwong is a founding member of the Hong Kong Shipowners Association (HKSOA). As with most other founding members, the company’s heritage can be traced back to the mainland.

Shipping companies are increasingly gathering information from the fleet in order to improve their operations and safety performance. Without easy–to-use and data smart systems potential insights and improvements may be lost. Time-consuming reporting to various stakeholders may reduce focus on other important tasks. The latest release of ShipManager includes the Safety Management Reporting module with a new and flexible user interface, increasing efficiency and optimizing processes to improve safety at sea. “Many shipping companies are using one standard form for all types of safety management reporting, which usually does not provide optimal flexibility, oversight and efficiency,” says Rune Lyngaas, Head of Product Management, Maritime Software.

Off the coast of a nearly deserted island below the southern tip of Hong Kong, at least 10 massive ships that normally carry hundreds of thousands of tons of coal or iron ore lie idle near one of the world's busiest sea routes. These empty vessels paint a grim picture for the dry bulk shipping business that veterans of the industry say is grappling with an unprecedented crisis of too many ships and not enough cargoes. The hollow boats underscore the global economic doldrums that policymakers are struggling to overcome. "This is the worst we have seen in recent times. We have been hit by a perfect storm - huge order books, China slowdown…

Make no mistake, the commercial maritime industry will always revolve around heavy duty machinery and mega-machines designed to weather some of the toughest operating conditions on earth. But in recent years a proliferation of Software Solutions has evolved to help the machines operate more efficiently and cost effectively. MR editors report on latest developments in maritime specific Software Solutions. Kværner Verdal AS selected AVEVA Bocad Steel and AVEVA Bocad Offshore for use at its design and fabrication yard in Verdal…

Wah Kwong Ship Management (HK) Limited will adopt DNV GL's ShipManager integrated fleet management software suite to further improve operational efficiency, data transparency and safety reporting. Wah Kwong is a provider of maritime transport in the bulk carrier, tanker and LPG segments, operating a current fleet of 26 vessels, with nine more newbuilds on the way. It recently decided to implement ShipManager softward from DNV GL, with the aim to simplify and optimize ship management by allowing extensive fleet-wide data collection and analysis.

Wah Kwong Ship Management (HK) Limited will adopt DNV GL’s ShipManager integrated fleet management software suite to further improve operational efficiency, data transparency and safety reporting. Wah Kwong is a leading provider of maritime transport in the bulk carrier, tanker and LPG segments, operating a current fleet of 26 vessels, with nine more newbuilds on the way. Wah Kwong’s implementation of ShipManager supports its strategy of offering the highest standards of safety and quality of operations. In the face of increasing compliance requirements and a growing fleet, a new, integrated and professional fleet management software system is essential.

London International Shipping Week 2015 (LISW15) is pleased to announce the line up, so far, of high level government and industry speakers for the official LISW15 Conference being held at the Grosvenor House Hotel on London’s Park Lane, on Thursday 10th September. The conference will begin with Jeremy Penn, Chairman of the LISW15 Steering Group and Chief Executive of The Baltic Exchange, formally welcoming everyone to the event before handing over to The Rt Honourable The Lord Mayor of the City of London, Alderman Alan Yarrow who will then address the Conference alongside a Senior UK Government Minister. This session will focus on World…

On September 4th, Anglo-Eastern celebrate it’s 40th Anniversary, in Hong Kong, concluding with an evening of fun, at the Hong Kong Maritime Museum. Among a host of VIPs, both local and international, Mr. & Mrs. Evert Maréchal, The Consul General of Belgium, along with the Consul General of Japan, Mr Hitoshi Noda and the Consul General of India, Mr. Ravi Sinha & Mr Prashant Agrawal together with the Director of the HK Marine Department, Mr Michael W.L. Wong, JP were welcome by Group CEO, Mr Peter Cremers and the Board of Directors of Anglo-Eastern. Benoit Timmermans     Managing Director           Bocimar Belgium N.V. Andre Goedee              CEO                              Dockwise Shipping B.V.

Increased activity in the dry bulk carrier shipbuilding market is reported in the latest Clarkson Hellas Weekly S+P Bulletin, and in all sectors the shipbuilders are in China. Grieg Shipping have added to their existing orders at Dayang, with two further units of Ultramaxes, due for delivery within September and December 2015, this takes their order at that yard to four ships. Wah Kwong Shipping have now also placed order at Chengxi Shipyard for four 64,000dwt Ultramaxes scheduled for delivery within 2016.

Teekay Tankers Ltd. ·         Declared a cash dividend of $0.22 per share for the quarter ended December 31, 2010. ·         Reported fourth quarter adjusted net income of $2.6 million, or $0.05 per share (excluding specific items which increased GAAP net income by $5.2 million, or $0.10 per share). ·         Over 60 percent of fourth quarter revenue days earned average fixed time-charter rate of $24,390 per day; significantly above average spot TCE of $14,779 per day earned on remaining spot revenue days. ·         Completed acquisition of one Suezmax tanker and one Aframax tanker for a total cost of $107.5 million. ·         In January 2011, commenced a 23-month extension of an existing Suezmax tanker time-charter.

·        Turnover: first semester $253.6m; third quarter $130.4m; YTD 2008 $384m; YTD 2007 $361.5m. ·        Operating cash flow (EBITDA): first semester $63.5m; third quarter $3.6m; YTD 2008 $97.1m; YTD 2007 $88.5m. ·        Operating result (EBIT): first semester $31.5m; third quarter $16.2m; YTD 2008 $47.7m; YTD 2007 $49m. ·        Average number of shares: first semester 33,726,338; third quarter 33,146,594; YTD 2008 33,531,679; YTD 2007 34,983,120. ·        Operating cash flow (EBITDA) in USD per share: first semester $1.88; third quarter $1.01; YTD 2008 $2.90; YTD 2007 $2.53. ·        Operating result (EBIT) in USD per share: first semester $0.93; third quarter $.49; YTD 2008 $1.42; YTD 2007 $1.40.

Wah Kwong Shippping Holdings said its shareholders approved a joint HK$50 million buy-out bid from Belgium's Compagnie Maritime Belge SA (CMB) and Wah Kwong president George Chao. Company shares will resume trading in Hong Kong on Wednesday. The last day of trading for Wah Kwong shares in London is July 21, and July 24 for Hong Kong. Delisting is scheduled for July 26. The joint offer from CMB and Chao was made at HK$5.65 per share, to acquire 57.7 percent of Wah Kwong shares. CMB's Bocimar Far East Holdings unit owned 27.1 percent of the company, whilst Chao held a 15.2 percent stake. Wah Kwong shares closed at HK$5.50 on Tuesday. The company is engaged in the transport of bulk cargo such as coal and iron ore.

Bocimar Far East Holdings, along with a shareholder of Wah Kwong Shipping Holdings Ltd., have offered to buy out the Hong Kong shipping group, which has been suspended from trading since June 1 pending news of the offer, officials said. Bocimar - a unit of Belgian shipping firm Compagnie Maritime Belge SA (CMB) - and Wah Kwong investor George Chao made a joint offer to buy the 57.7 percent they did not already own at HK$5.65 ($.73) per share. Bocimar already owns 27.1 percent, and Chao owns 15.2 percent, a spokesperson said. Bocimar and Chao plan to delist Wah Kwong from the London and Hong Kong stock exchanges if they are successful in buying up all of the shares, CMB officials said.

U.K. Roch, Rosa Delmas and the Ursula Delmas. Midocean manages these vessels on behalf of the Delmas group. This delivery comes after successful evaluation of an initial test ship to ensure that Midocean’s demanding purchasing requirements were met. brings the total delivered to four out of the seventeen managed. our Marine Planned Maintenance and Office Planned Maintenance systems. after recently being delivered to the Delmas group. RRS Discovery. both RRS Discovery , and the RRS Charles Darwin. UAE. operating from La Spezia, Italy. set up the planned maintenance system, is delivering the Leonardo to NATO.

Rapidly rising prices for steel plate in China may be taking the edge off the financial performance at some Chinese shipbuilders. But it will take a lot more than that to undermine shipyards' dramatic expansion plans aimed at ensuring the country's builders produce more ships than any other nation by 2015. In the short run, however, the country's relatively inexperienced builders seem to have failed to read the steel supply signs. They have found themselves caught out by a number of factors driving up ship steel prices. These have risen by almost 60% over the last 30 months or so and now stand close to $400 a ton. On the one hand, soaring…

In addition, Bocimar has ordered two 176,000 dwt Capesize newbuildings from Jinhaiwan (China). The purchase price amounts to $88.5m per vessel and the delivery is scheduled to take place in April 2009 and July 2010. Finally Bocimar, in joint venture with Wah Kwong (Hong Kong), has ordered two Postpanamax 93,000 dwt newbuildings from Shanhaiguan (China). The newbuilding price amounts to $52.8m per vessel. The vessels will be delivered in December 2010 and February 2011.