Marine Link
Wednesday, May 23, 2018

Whollyowned Subsidiary News

River Cruise Company Fined $400,000

© AJBC / MarineTraffic.com

A Thames river cruise company has been fined a total £304,925 (approximately $411,000) at Westminster Magistrate's Court in a prosecution brought by the Maritime & Coastguard Agency (MCA) for operating without a valid Domestic Safety Management (DSM) certificate.Sodexo Ltd pleaded guilty to operating without the valid certificate, contrary to the Merchant Shipping Act 1995, on one of its Thames cruise vessels Symphony. They were fined £300,000 and ordered to pay a victim surcharge of £125 and £4…

Novatek Plans New Arctic Transport Company

Photo: PAO Novatek

Russia's gas production and sales company PAO Novatek has created a transportation unit called Maritime Arctic Transport. "The Board of Directors of PAO Novatek  resolved on creating a transportation subsidiary called Maritime Arctic Transport LLC to manage and optimize transportation costs, build up the unique competencies of Arctic navigation and ensure centralized management of the Arctic fleet," said a press release from company. Novatek’s Chairman of the Management Board…

Diana Containerships Sells m/v Puelo

Puelo. Photo: Diana Containerships Inc.

Diana Containerships has announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2006-built vessel “Puelo”, with delivery to the buyer by latest June 30, 2018, for a sale price of US$20.5 million before commissions. Theglobal shipping company specializing in the ownership of containerships said that it expects to use the whole or part of the net proceeds from the sale of the vessel to prepay existing indebtedness based on the outstanding amount of such indebtedness upon completion of the transaction.

Diana Containerships to Sell Post-Panamax Vessel

Ship owner Diana Containerships Inc. announced it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2009-built vessel Hamburg, with delivery to the buyer latest by July 31, 2018, for a sale price of $21 million before commissions.Net proceeds from the sale of the vessel are expected to be used by the company to prepay part of the existing indebtedness.Upon completion of the sale, Diana Containerships Inc.’s fleet will consist of five container vessels, including three Post-Panamax and two Panamax ships.

Diana Shipping TC Contract for P. S. Palios with Koch

P. S. Palios. Photo: Diana Shipping Inc.

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping, Singapore, for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$17,350 per day, minus a 5% commission paid to third parties, for a period of about 13 months to maximum 15 months. The charter is expected to commence on May 24, 2018. The m/v P. S. Palios is currently chartered, as previously announced, at a gross charter rate of US$10,550 per day, minus a 5% commission paid to third parties. The “P.

Rosneft: South China Sea Drilling is Within Vietnam Waters

(Photo: Rosneft)

Workboats: Three Damen Stan Tugs for Corpetrolsa Group



Corpetrolsa Group of Ecuador to take delivery of three Damen Stan Tugs (Photo: Damen Shipyards)

Damen Shipyards Group signed a contract with Corpetrolsa Group of Guayaquil, Ecuador, for the supply of three tugs; one Stan Tug 1205 and two Stan Tugs 1606. The tugs will be operated by Corpetrolsa subsidiary DLEN S.A. to support its bunkering operation. Corpetrolsa Group operates its own fleet of tankers in the 2,000 to 7,000 DWT range and the three new tugs will be used to assist them in the Ecuadorean ports of Esmeraldas and La Libertad. The vessels were already in stock at Damen Shipyards Gorinchem and will be supplied in their standard format without modifications.

Kalmar to Supply SmartPower RTGs to Port of Buatan

Image: Kalmar RTG

Kalmar, part of Cargotec, has concluded a deal with Riau Andalan Pulp & Paper (RAPP) to supply three Kalmar SmartPower rubber-tyred gantry cranes (RTGs) for its container yard at the Port of Buatan in Indonesia. The order was booked in Cargotec's 2018 first quarter order intake and delivery is scheduled to take place towards the end of Q4 2018. RAPP, a subsidiary of APRIL Group - one of the world's leading producers of pulp and fine papers - operates a pulp and paper mill in Riau Province on the Indonesian island of Sumatra.

Minoan Lines Subsidiary Orders Ferries

Minoan Lines subsidiary Minoan Flying Dolphins reportedly ordered three new high speed ferries from Australia's Austal Ships.

Igor Sechin Held Negotiations in Venezuela

Igor Sechin Hold Negotiations in Venezuela

Rosneft President Igor Sechin held talks with the Minister of Popular Power for Oil and Mining and President of Petróleos de Venezuela, SA (PDVSA ), Rafael Ramirez Carreno. The parties discussed a wide range of issues regarding current cooperation between the companies, Rosneft activities in Venezuela and the outlook of development of new projects. Currently Rosneft and PDVSA cooperate in the realization of 5 Joint Ventures in the upstream sphere in Venezuela. Project Carabobo-2,4 (JV Petrovictoria). JV PetroMonagas. Project Junin-6 (JV PetroMiranda). JV Boqueron. JV Petroperija.

Central Gulf Lines Seeks Transfer Authorization

Central Gulf Lines, Inc., has requested the necessary permissions to transfer one authorization granted under Section 615 of the Merchant Marine Act, 1936, as amended, to a wholly owned subsidiary. Central Gulf’s subsidiary intends to acquire a ship construction contract to be entered into between Liberty Shipping Group Limited Partnership and Oshima Shipbuilding Co., Ltd., for the construction of one 52,200 DWT multipurpose bulk ship. The subsidiary will construct the vessel at Oshima Shipyard in Nagasaki, Japan, pursuant to the Section 615 authorization. Upon issuance of the builder’s certificate by Oshima Shipyard the Central Gulf subsidiary will issue a bill of sale for the vessel to Liberty Shipping.

TECO Unveils New Subsidiary Identities

Based in Tampa, Florida, this business handles all of TECO Transport's global blue water transportation activities. It is the largest dry bulk ocean transport company operating under the U.S. flag; and TECO Bulk Terminal (formerly Electro-Coal Transfer). Based in Davant, La., this terminal and storage transfer operation handles bulk commodities at the mouth of the Mississippi River, including coal, petroleum coke, phosphate and iron ore. TECO Transport President Jeff Rankin said that because of its diversity of subsidiaries, TECO Transport is the only U.S. company capable of moving bulk products from source to point-of-use.

MHI Establishes Australian Subsidiary

Mitsubishi Heavy Industries (MHI) has established a wholly owned subsidiary, Mitsubishi Heavy Industries Australia Pty. Ltd., which will commence operations on October 1. Headquartered in Melbourne, Victoria, the new subsidiary will have its Air Conditioning & Refrigeration Department in Sydney. Shingo Ueda, who currently serves as chief representative of MHI's Australia Representative Office was appointed as managing director of the company, while Hirokazu Kanamori will become general manager of MHI's Air Conditioning & Refrigeration Department.

Greatship Sells AHTS Vessel

Greatship Akhila. Image by Greatship (India) Limited

Indian shipping company Great Eastern Shipping has announced that its wholly owned subsidiary, Greatship, has sold and delivered anchor handling tug supply (AHTS) vessel Greatship Akhila (7,080 bhp, built 2009) to unnamed buyers. "Greatship (India) Ltd (GIL), a wholly-owned subsidiary of Great Eastern Shipping Company Ltd, has sold and delivered the 2009-built 80T Anchor Handling Tug cum supply vessel 'Greatship Akhila', to the buyers," the company said in a filing to BSE. However, it did not specify the buyers.

Vigor Renames Fabrication and Alaska Operations

Vigor Alaska

Vigor Industrial announced today that it has renamed two of the company’s subsidiaries. U.S. Fab, Vigor’s fabrication and shipbuilding subsidiary, is now Vigor Fab. Alaska Ship and Drydock, which operates the Ketchikan shipyard in Alaska, is now Vigor Alaska. “It’s about better serving our customers,” explained Frank Foti, president and CEO of Vigor Industrial. •Vigor Shipyards, which provides repair, maintenance and modernization services to the U.S. The changes apply to the names only and do not alter the operating structures of either subsidiary. The new names go into effect immediately.

Sea Containers Files for Chapter 11

Sea Containers Ltd. Announced that, in order to achieve a financial restructuring, Sea Containers Ltd and two subsidiaries, Sea Containers Services Ltd and Sea Containers Caribbean Inc, have voluntarily filed for protection under Chapter 11 of Title 11 of the United States Bankruptcy Code. The filings were made on October 15 in the U.S. Bankruptcy Court for the District of Delaware. Other than the two subsidiaries listed above, no other subsidiary company within the group has filed for protection. Operating subsidiaries such as Great North Eastern Railway (GNER), the U.K. rail operator, and the SeaStreak ferry services in New Jersey, will continue their normal day to day operations. GE SeaCo, the joint venture container leasing business, is

Transocean Announces License Agreement

Transocean Inc. announced that a license agreement has been executed by wholly owned subsidiaries of Transocean and Pride International, Inc. (NYSE:PDE). In the agreement, the Transocean subsidiary granted the Pride subsidiary a worldwide and non-exclusive license to utilize Transocean's patents for offshore dual activity drilling methods and structures. In return, the Pride subsidiary agreed to pay the Transocean subsidiary $10 million for the first dual activity rig that Pride builds in a patented country, plus a five percent royalty on dayrate revenue generated by that rig in any patented country. The Pride subsidiary agreed to pay the Transocean subsidiary an additional $15 million for each subsequent dual activity rig that Pride builds in any patented country…

Atlas Elektronik New Subsidiary in Korea

The Atlas Elektronik Group continues on its course of expansion: The Germany based company sets up the subsidiary Atlas Naval Engineering Company (ANEC) in Yangsan City, Republic of Korea. ANEC will be a design and development partner for the Korean Agency for Defence Development (ADD) and the Ministry of Defence. By establishing its subsidiary ATLAS intends to intensify its relationship with the Korean Navy and will also enhance its presence on the Korean market and towards its customers. ANEC’s main tasks are the technical services, program management, marketing and sales, engineering support and In-Service-Support of existing Atlas systems in Korea.

Offshore Accommodation Rig Order for COSCO

COSCO Corp. (Singapore} subsidiary COSCO Qidong Offshore Co to build the accommodation rig for European joint venture company. The contract, valued at US$200-million.is for the construction of a harsh environment semi-submersible accommodation rig for Axis Offshore, a joint venture between Danish shipowner, J. Lauritzen and Norwegian private equity fund, HitecVision. Signatory of the contract was COSCO Qidong Offshore Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd Delivery is scheduled for the first quarter of 2015.  

Greatship’s Subsidiary Takes Delivery of a Platform/ROVSV

Greatship Global Offshore Services Pte. Ltd. (GGOS), a Singapore incorporated subsidiary of Greatship (India) Limited (GIL), which is a wholly owned subsidiary of The Great Eastern Shipping Company Limited has taken delivery of a Platform/ROV  Support Vessel, GREATSHIP RAGINI, from Colombo Dockyard Plc, Sri Lanka. Greatship Ragini is a DP2 vessel, capable of supporting offshore exploration and production and has been built complying with the SPS Code 2008. With the delivery of Greatship Ragini, GIL and its subsidiaries currently own and operate four PSVs, nine AHTSVs, two MPSSVs, six ROVSVs, two jack up rigs and have one 350 feet jack up rig under construction in UAE.

Greatship’s Subsidiary Takes Delivery

Greatship’s subsidiary takes delivery of a mobile offshore self elevating drilling rig, Le Tourneau Super 116(E) – ‘Greatdrill Chaaya’. Greatship Global Energy Services Pte. Ltd., a Singapore incorporated subsidiary of Greatship (India) Limited (GIL), which is a wholly owned subsidiary of The Great Eastern Shipping Company Limited has taken delivery of a mobile offshore self elevating drilling rig, Le Tourneau Super 116(E) – ‘Greatdrill Chaaya’ from Lamprell Energy Ltd., UAE. Greatdrill Chaaya is an independent Leg Cantilever type Jack up rig with 15000 PSI pressure rating, designed to operate in water depths of up to 350 feet. She is a state of the art cyber rig, built with the latest technology, equipments and systems.

Sevan Drilling Cleared in Petrobras Bribery Case

Photo: Sevan Drilling ASA

Noway’s anti-corruption agency Økokrim has closed an investigation into Sevan Drilling over the company’s drilling contracts won with Petrobras between 2005 and 2008. "Reference is made to the public announcement by Sevan Drilling dated 16 October 2015 regarding Økokrim's investigation of the Company's subsidiary Sevan Drilling ASA in respect of payments made to agents in relation to drilling contracts originally awarded by Petrobras to Sevan Marine ASA in the period between 2005-2008," said a press release from the company.

Lindsay Goldberg Mulls Selling Stake in Odfjell Terminals

Photo: Odjfell

Odfjell SE said it has been informed by Lindsay Goldberg that they are considering a sale of its 49% shareholding in Odfjell Terminals B.V.Lindsay Goldberg has been Odfjell's joint venture partner in Odfjell Terminals's U.S. and European terminals since 2011. In 2013, the partnership was expanded to include Odfjell Terminals's global terminal operations.Odfjell said it continues to consider Odfjell Terminals as core business and emphasized its long term commitment to owning, developing and operating tank terminals.

Maritime Reporter Magazine Cover May 2018 - Marine Propulsion Edition

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