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Thursday, February 22, 2018

File Image: A rendering of the The HES Terminal in the Port of Rotterdam (CREDIT: HES)

Goldman Sachs, Macquarie Front Runners in HES Terminal Sale

A consortium of infrastructure funds at Goldman Sachs and Macquarie is seen as the front runner in the sale of European bulk port terminal operator HES International, worth around 2 billion euros ($2.5 billion), industry sources said. Morgan Stanley is mandated to sell the asset, two sources, whose organisations had considered bidding for it, said. They added that the expectation Goldman Sachs and Macquarie would win put off some prospective bidders. The sources, both in the infrastructure investing industry, said the growth projections provided by the company were too aggressive.

File Image: The Shell Refinery in the Port of Rotterdam (CREDIT: PoR)

Rotterdam Port CEO "preparing for the worst" with Brexit

The Port of Rotterdam is bracing for a British exit from the European Union without any deal on customs, and looking at measures such as hiring 100 extra customs agents and dozens of fresh produce inspectors. CEO Allard Castelein said he had had two meetings in the past week with "policy makers, the cabinet, the government and supporting officials about the consequences" of a so-called "hard" Brexit, which would move Britain away from EU rules. "If you have 407 days left, then you don't have time to embrace hypotheses that it will turn out pretty good in the end," he told reporters.

Photo: Tsakos Energy Navigation Limited

TEN Gets Charter Extension for Seven Panamaxes

Greece-based Tsakos Energy Navigation (TEN) has announced the charter extension for seven panamax tankers, for an average of 24 months, to a state oil concern. The charters which all incorporate profit sharing provisions are expected to generate minimum gross revenues of over $70 million. “These charters, in terms of duration, security, flexibility and quality, enhance the industrial nature of our business, further solidify our fleet’s cash generating ability, strengthen our balance sheet and provide visibility of earnings and dividends,” George Saroglou, COO of TEN commented.

Viking Energy. Photo: Eidesvik Offshore

Statoil Extends Contract with Viking Energy

Norwegian oil major Statoil has declared a one-year option for the Platform Supply Vessel (PSV) Viking Energy from April this year, in direct continuation of current contract. Eidesvik said on Monday that Statoil exercised a one-year option for Viking Energy. The extension is set to begin in April this year. The vessel will be prepared for shore power, and equipment for better fuel consumption measurement will be installed. Viking Energy was the world's first LNG-powered offshore vessel when it was launched in 2003.

OOCL Qingdao. Photo: OOCL

Global Ship Lease Extends Charter with 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.

File Image: The Madrid Maersk, a 20,000+ TEU Box ship (CREDIT: Maersk)

Maersk to Compete with UPS, Fedex

A.P. Moller-Maersk plans to expand its transport and logistics business to compete directly with package delivery companies UPS and Fedex as part of a major restructuring, its chief executive said Tuesday. Maersk, the world's largest container shipping company, has sold off the majority of its energy assets to focus entirely on transport and logistics. "We're building this company that is a global integrated container business, a company very similar to UPS and Fedex," CEO Soren Skou told investors at a capital markets day in Copenhagen on Tuesday.

Tony Boemi, Vice-president, Growth and Development at the Port of Montreal, Christine St-Pierre, Québec Minister of International Relations and La Francophonie, Jordan Reeves, Consul General of Canada, Mumbai, Sandeep Mehta, President of Adani Ports and Special Economic Zone and Dominic Marcotte, Consul and Director of the Québec Government Office in Mumbai. Photo: Montreal Port Authority (MPA)

Mundra Port, Port of Montreal Sign Cooperative Agreement

On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).

Image: Transocean

Transocean Amends Drilling Contract

Transocean announced that an agreement has been reached with the incumbent customer to amend the drilling contract on the harsh environment semisubmersible Transocean Leader. The rig experienced equipment breakdown that could not be repaired timely, providing the customer with the right to cancel the contract. However, given the otherwise efficient performance of the rig, the customer elected to complete its program with the Leader and Transocean agreed to amend the drilling contract, signed today and effective January 13, 2018, whereby the dayrate and contract duration were modified.

Photo: Hafnia Tankers

Hafnia Tankers Inks Fresh Sale and Leaseback Deal

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.

Photo: Aker BP

Kvaerner Bags Two Contracts for Disposal of Platforms

Kvaerner has entered into an agreement with Allseas for the recycling of the topside and bridge of the 36-year-old Valhall QP platform when Allseas removes this installation for operator Aker BP in 2019. The structures will be deconstructed during winter 2019 and spring 2020. Kvaerner has also signed a contract with Saipem Uk for disposal of the Varg A installation. Saipem will remove the installation from the field on behalf of Repsol. Varg A was originally  delivered by Kvaerner’s yard in Verdal, Norway in 1997.

Photo : Samsung Heavy Industries Co. Ltd. Pangyo R&D Center

Samsung Heavy Industries Bags USD 91.47mln Newbuild Order

Samsung Heavy Industries (SHI) swept 1 trillion KRW (USD 91.47mln) worth orders, including an order from an Asian owner to build eight 12,000TEU containerships for around 820 billion KRW. The neo-panamax vessels are 334m in length and 48.4m in breadth, to be delievered by May 2021. SHI believes the growth in seaborne trade and environmental regulations would lead to more commercial vessel newbuilding orders. SHI's order total for 2018 reached 1 trillion KRW as of now, including another recent order for a LNGC at around 210 billion KRW, well on the way to the yearly order target.

Floating storage and regasification unit (FSRU). Photo: Höegh LNG

Hoegh LNG Signs FSRU Deal with Gas Natural Fenosa

Norway's Höegh LNG said on Wednesday that its floating storage and regasification unit (FSRU) Höegh Giant has started its time charter contract with Spanish LNG operator Gas Natural Fenosa. The  initial term of the contract is three years, and it includes the option for Gas Natural Fenosa to utilize the unit as an FSRU at a pre-defined day rate and for a pre-defined term. Until FSRU employment is established, the unit will trade in Gas Natural Fenosa's fleet, earning a LNG carrier spot-market-linked day rate.

Photo:  NYK Europe

WFW Advises NYK on LNG Carrier Charter

Watson Farley Williams  (WFW) advised NYK Nippon Yusen Kabushiki Kaisha  (NYK) on the execution on 26 January 2018 of its long-term charter contract with EDF LNG Shipping, a subsidiary of the electricity major, Electricité de France (EDF). The contract is for the chartering of a newly built liquefied natural gas (LNG) carrier for seven years, with optional extension periods for up to thirteen additional years. WFW also worked closely with the commercial and in-house legal teams at NYK, Hyundai Samho Heavy Industries and EDF on the construction arrangements for the vessel for the project.

Photo: Crowley Logistics

Crowley Rolls Out First Freight Under $2.3 Billion DFTS Contract

Crowley Logistics reports that it has successfully executed the first cargo move under its new $2.3 billion Defense Freight Transportation Services (DFTS) contract, one of the U.S. Department of Defense’s (DoD) largest transportation services contracts. The military cargo was transported by truck Monday from the U.S. Tobyhanna Army Depot in Pennsylvania, which provides logistics support for the communications sector to defense personnel with services such as fabrication and manufacturing, overhaul and repair, engineering design and development, systems integration, and global field support.

The charter parties were signed by EMC Chairman Mr. Anchor Chang and President of Shoei Kisen Kaisha Mr. Yukito Higaki. (Photo: Evergreen)

Evergreen Charters Twelve 11,000 TEU Newbuilds

Evergreen Marine Corp. (EMC) entered into an agreement with Shoei Kisen Kaisha to charter twelve 11,000 TEU class containerships. The charter parties were signed by EMC Chairman Anchor Chang and President of Shoei Kisen Kaisha Yukito Higaki. The plans to charter these vessels were approved early last month at the board meetings of Greencompass Marine S.A. and Evergreen Marine (Hong Kong) Ltd. respectively. The two subsidiaries of EMC will each charter six vessels. All twelve ships…

© rabbit75_fot / Adobe Stock

NY/NJ Cross Harbor Freight Program Enters Second Review Phase

The Port Authority of New York & New Jersey  awarded a $23.7 million agreement to Cross Harbor Partners, a joint venture of STV Incorporated/AKRF Inc., to undertake the Tier II Environmental Impact Statement for the Cross Harbor Freight Program at the port. The aim of the Cross Harbor Freight Program is to reduce roadway congestion attributed to goods movement across the New York/New Jersey Harbor. The Tier II review is expected to take up to three years; it will provide more…

Photo:  West Calcasieu Port

West Calcasieu Port Awards Dredging Contract

The West Calcasieu Port Board of Commissioners voted this week to award the contract for the dredging of the Louisiana port's west barge basin to Coastal Dredging Company, Inc. of Hammond, La.. The successful base bid of $1,334,020 was the lowest among six bids received by the port during its competitive public bid process. “The West Cal Port Board of Commissioners was encouraged to have received such a large number of bid packets for the project,” said Dick Kennison, board president for the West Calcasieu Port.

Telemar chosen to provide bridge system repair and maintenance services to Carisbrooke Shipping. Vectis Falcon pictured. Credit: Carisbrooke Shipping

Carisbrooke, Marlink Extend Partnership

Marlink Group company Telemar has been chosen to provide bridge system repair and maintenance services to Carisbrooke Shipping. The new contract further combines Marlink Group capabilities to enhance Carisbrooke Shipping’s operational efficiency and continuity, which is already widely supported by Marlink’s position as the U.K. headquartered ship management company’s preferred supplier of maritime satcom services. The new service and maintenance contract will be fulfilled by the U.K.

AAL A-Class Vessel, with project cargo (Photo: AAL)

Hyundai Merchant Marine, AAL Shipping Join for MPV Service

South Korea's Hyundai Merchant Marine (HMM) announced it is beginning its cooperation with Singapore based carrier, AAL Shipping, for Multi-Purpose Vessel (MPV) service. Specialist multipurpose carriers and long-standing collaborators, AAL and Hyundai Merchant Marine (HMM), are entering a global cooperation that will see both carriers expand their trade route coverage, sailings frequency, and MPV fleet capacity. The cooperation will create a joint Far East – Middle East MPV Liner Service, served by five MPV vessels and a scheduled bi-monthly rotation.

m/v Selina. Photo: Diana Shipping Inc

Diana Extends TC with BG Shipping

Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with BG Shipping Co., Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Selina. The gross charter rate is US$12,250 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to maximum 19 months. The new charter period is expected to commence tomorrow. The m/v Selina is currently chartered, as previously announced, at a gross charter rate of US$7,100 per day, minus a 5% commission paid to third parties.

Seaspan Charters Newly Bought Vessels to Maersk

Seaspan Corporation said it has purchased two 2006-built 2,500 TEU containerships and entered into fixed rate time charter agreements for the vessels with Maersk Line A/S. The time charters will be for a term of four years with options for up to an additional two years at increasing charter rates. One of the vessels was delivered to Seaspan today, and the other is expected to be delivered by the end of the month. Upon delivery of the second vessel, Seaspan’s operating and managed fleet will consist of 112 containerships representing a total capacity of approximately 900…

Polar Onyx. Photo: GC Rieber

GC Rieber Bags 3 Year TC for Polar Onyx

Norwegian offshore shipowner  GC Rieber Shipping has entered into a time charter agreement with Deepocean BV for the SURF vessel Polar Onyx for a fixed period of three years with options to extend by up to two years. The Polar Onyx will be used in Ghana to support Deepocean's contract with Tullow Oil. Commencement is immediately and mobilization has begun. "We are very pleased to have secured a long-term charter agreement with Deepocean where we maintain a position to benefit from improving market conditions.

Image: NYK Line

Ince & Co Advises EDF on NYK LNG Carrier

EDF LNG Shipping, a subsidiary of EDF group, signed a long term charter contract with the Japanese shipowner NYK on January 26th 2018. The vessel, with a capacity of 174,000 cbm, will be built by the shipyard Hyundai Heavy Industries with delivery expected by spring 2020. Ince & Co supported EDF LNG Shipping in the negotiation and drafting of the time charter contract providing for an initial charter period of seven years which can be further extended to twenty years. This major…

Photo: Hyundai Heavy Industries

Hyundai Samho Heavy Bags USD 200mln Order for LNG Carrier

South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) has won a $ 200 million contract for the construction of a 174,000-cubic-meter LNG vessel for NYK Line, said a report in Yonhap. HSHI  is set to deliver a carrier that can hold 174,000 cubic meters of LNG to Japanese shipping company by 2020. The report said that it marked the first time that Hyundai Samho Heavy Industries has won an order from a Japanese company in 13 years. This year, Hyundai Samho Heavy Industries, an affiliate of Hyundai Heavy Industries (HHI), won orders to build seven vessels.

Photo:  Dorian LPG Ltd

Dorian LPG Sells, Leaseback Concorde

The Stamford, Connecticut-based Dorian LPG  has reached a sale and bareboat charter arrangement for its 84,000 cbm carrier Concorde. The liquified petroleum gas shipping company entered into the USD 70 million deal that closed on January 31, 2018, resulting in net cash proceeds of USD 56 million. "We have entered into a sale and bareboat charter arrangement that closed on January 31, 2018 for the Concorde, which was previously financed under the 2015 Debt Facility. The net proceeds from the transaction amounted to $56.0 million…

Photo: Hyundai Merchant Marine

Hyundai Merchant Marine, GS Caltex Ink Crude Oil Deal

South Korean shipping company Hyundai Merchant Marine (HMM) has signed a long-term crude oil shipping contract with compatriot oil refiner GS Caltex. A press release from HMM said that the KRW190 billion (USD 180 million) contract will involve the transportation of 19 million tonnes of crude oil from Saudi Arabia and the Gulf from July 2019 to August 2024. Accordingly, HMM plans to deploy two 300,000 dwt Very Large Crude Carriers (VLCC) which were previously ordered last September. C.K. Meanwhile, HMM has continued its partnership with GS Caltex over 20 years in crude oil shipping business.

Photo: GoodBulk

GoodBulk Takes Delivery of Two Capesizes

Greek dry bulk owner Goodbulk announced that in January it took delivery of two Capesize vessels and sold another one Capesize. The Company took delivery of the Aquaproud, a 2009 built Capesize vessel of 178,057 dwt built by Shanghai Waigaoqiao Shipbuilding (SWS), China on On January 24, 2018. The purchase, which is the third to deliver of six option Capesize vessels acquired from funds managed by CarVal Investors on December 20, was financed with a combination of cash on hand…

Graph: Drewry Shipping Consultants Limited

LNG Shipping Charter Rates Under Pressure in 2018: Drewry

Increasing vessel supply will keep LNG charter rates under pressure in 2018, despite strong growth in trade, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. Drewry’s short-term outlook for LNG charter rates remains pessimistic because of the high fleet growth rate compared with demand. The fleet is expected to expand by 11% because of high deliveries and low demolition activity. Low freight rates in the first three quarters of 2017 have resulted in a huge pile-up of deliveries in 2018, which will further put pressure on supply.

Photo:  NYK Europe

NYK Signs Charter with EDF LNG Shipping

Japanese shipping company NYK Line announced that it signed a contract with EDF LNG Shipping, a subsidiary of Electricité de France (EDF), to charter a newly built LNG carrier for a total of seven years, with optional extension periods for up to 13 more years. The vessel will be built by Hyundai Samho Heavy Industries in Korea and is due to be delivered on April 30, 2020. The vessel will be fitted to EDF’s specific requirements and will have a 174,000-cubic meter capacity membrane…

Photo: Hyundai Heavy Industries

Hyundai Heavy Bags Canadian Facility Order

South Korean shipbuilding giant Hyundai Heavy Industries (HHI) has won a design contract worth about $500 million for a liquefaction unit to be used for Steelhead LNG’s Kwispaa LNG export project in Canada’s British Columbia, reported Yonhap. Hyundai Heavy will conduct a front-end engineering design (FEED) for the hull of the At-Shore LNG (ASLNG) and build the LNG liquefaction facility for Steelhead LNG Corp., the company said in a statement. The ASLNG facility, scheduled to begin operations in 2024 on the coast of Vancouver…

Photo: Titan LNG

Port of Amsterdam, Titan LNG Contract for FlexFueler001

Port of Amsterdam and Titan LNG have signed a long-term contract for the “home” location of Titan’s bunkering pontoon: the FlexFueler001. This pontoon will be the first of its kind in Europe providing easy, affordable and safe LNG bunkering services of this cleaner marine fuel. The agreement underpins the ports’ ambition to facilitate the development of the LNG bunkering market in Amsterdam. Koen Overtoom, CEO Port of Amsterdam: “We believe in LNG as a shipping fuel and Titan…

At the signing ceremony. First from right: MOL Managing Executive Officer Yoshikazu Kawagoe. Second from right: MOL Managing Executive Officer Koichi Yashima. Photo: MOL

MOL Orders LNG-Fueled Tugboat

Japanese shipping major Mitsui O.S.K. Lines (MOL) has signed an agreement for the construction of an LNG-fueled tugboat with Kanagawa Dockyard. The construction is slated to start in February 2018 and complete in February 2019. Launching is scheduled for April of the same year. This deal marks MOL's first ownership of a tugboat powered by LNG-fuelled engines and it will be the first LNG-fuelled tugboat in Japan conforming to the IGF code. It is also Japan's first LNG-fuelled tugboat with the LNG fuel tank mounted on the exposed deck at the stern of the ship.

Photo: EFIP

Port Authority of Strasbourg Partners with HAROPA

The Port Authority of Strasbourg (PAS) in France and port operator HAROPA of the Port of Le Havre have inked an agreement regarding four areas of cooperation – in rail, river and sea, innovation, and promotional capabilities, PAS said. "In the presence of Catherine Trautmann, Chairman of PAS, Jean-Louis Jérôme, Executive Director of PAS, and Hervé Martel, Vice-president of HAROPA & Executive Director of HAROPA-Port of Le Havre, have signed a partnership agreement aiming at enhancing their cooperation," said a press statement.

(Image: Carnival Corporation)

P&O Cruises Orders Second Ship at Meyer Werft

Carnival Corporation announced it has signed a shipbuilding contract for a second cruise ship for its P&O Cruises brand with German shipbuilder Meyer Werft GmbH that is scheduled to be delivered in 2022. Similar to a fellow P&O Cruises sister ship due for delivery in 2020, this second new vessel will be the largest cruise ship to be built specifically for the British market. It will be 180,000 gross tons and will accommodate approximately 5,200 guests (lower berths). Both new ships will be registered in the U.K.

Photo: Subsea 7

Subsea 7 Bags Contracts Offshore Norway

Subsea 7 S.A. said it was awarded a contract from Statoil for the Johan Castberg field development, located 240 km from Hammerfest in Norway. The contract comprises the design, coating, fabrication and installation of a 53 km rigid flowline including 34 km of pipe-in-pipe flowline. Project Management and engineering will commence immediately at Subsea 7’s offices in Stavanger, Norway. Fabrication will take place at Subsea 7’s spoolbase at Vigra, Norway and offshore operations will be carried out in 2020.

Photo: Heerema Fabrication Group

HFG Awarded Offshore Platform Contract

Tulip Oil Netherlands Offshore B.V. has awarded Heerema Fabrication Group (HFG) an Engineering, Procurement, Construction and Installation (EPCI) contract for the Q10-A unmanned offshore platform. Koos-Jan van Brouwershaven, CEO of Heerema Fabrication Group, states: "We are very pleased with this award from Tulip Oil, and the collaborative way in which we are working together with our client. This project is a good example of HFG's competence to develop a project from the client's functional requirements through to the final delivery offshore.

m/v Dione. Photo: Diana Shipping Inc.

Diana Shipping Wins TC Contract from Ausca

Diana Shipping , a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione. The gross charter rate is US$10,350 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to about 17 months. The charter is expected to commence on January 23, 2018.

Photo:  Diana Containerships Inc

Diana Containerships Sells Two Post-Panamax Container Vessels

Greece-based global shipping company Diana Containerships announced that it has entered into an agreement to sell the m/v March and the m/v Great, each a 2004 built containership, for an aggregate price of US$22.0 million to an unaffiliated third party. The Company expects the Vessels to be delivered to the buyer at the latest by March 30, 2018. The unaffiliated purchaser of the Vessels is the same party with which the Company entered into a previously announced agreement to sell up to seven vessels, subject to the purchaser arranging financing.

Photo: Ocean Tankers

Fujian Mawei Shipbuilding Bags Ocean Tankers Order for Six Vessels

Ocean Tankers, the provider oil tanker shipping and chartering services to oil companies and trading houses, has ordered six handy-sized tankers to be built at the Chinese shipbuilding facility Fujian Mawei Shipbuilding, said a report in Reuters. The report said that the Singapore based tanker company has placed the order for an undisclosed sum as the company renews and expands its fleet and ships are expected to be delivered by 2020. The order is for 23,500-deadweight tonne (dwt) tankers that can carry crude, clean or dirty oil products, to be delivered in stages by the end of the decade.

Photo: Baleària

Gas Natural Fenosa, Baleària Sign LNG Bunkering Deal

Spanish liquefied natural gas (LNG) operator Gas Natural Fenosa signed an exclusive 10-year LNG supply deal with Spanish ferry operator Baleària. According to the company release, the supply contract will initially apply to the ports of Barcelona, Valencia and Algeciras, then extended to all the peninsular ports operated by the shipping company together with the entire new fleet powered by this fuel committed to using LNG as an ecological fuel. The president of Baleària, Adolfo Utor…

Image: Wallem Group Limited

G2 Ocean Names Wallem

Wallem Ship Agency has been appointed by G2 Ocean to provide Ship Agency services to all their vessels calling in ports in SE Asia. The agreement has been made with Wallem Ship Agency in Singapore, Malaysia, Thailand, Philippines, Vietnam, and Myanmar. This news comes after Wallem was appointed by G2 Ocean back in July of 2017 for calls to China, totaling an estimated number of 700 calls per year. Managing Director of Wallem Ship Agency Dickson Chin says, “We are delighted to extend our relationship with G2 Ocean to handle their vessels calling throughout Southeast Asia.

Photo: Maersk Supply Service

Maersk Supply Service Wins Contract With Quadrant Energy

Maersk Master and Maersk Mariner, Maersk Supply Service’s two first Starfish-class anchor handling vessels built in 2017, will be on contract with Quadrant Energy in Western Australia, commencing March 2018. Both vessels will support Quadrant Energy’s Phoenix South and Van Gogh drilling campaign which will initially cover three wells for a duration of 150 to 200 days. The highly modern and efficient vessels will be supporting Transocean’s semi-submersible rig DD1 with supply and anchor handling duties throughout the campaign. “Quadrant Energy is an important customer.

Photo: Gulf Agency Company

Chevron Shipping Awards Oil, LNG Contract to GAC

US-based Chevron Shipping Company (CSC) has awarded  the Dubai-based GAC Group a global three-year ship agency contract for both crude and LNG vessels. The new agreement secures the provider of shipping, logistics and marine services GAC’s status as Chevron’s exclusive global agent in a partnership that spans more than 20 years, more than 15 of which have seen GAC as its sole global agent. Operations will be overseen by GAC Hub Agency offices in Dubai, Houston and Singapore with support from GAC’s network of offices and approved agents worldwide.

Photo: CMA CGM

Global Ship Lease Extends TC with CMA CGM

Global Ship Lease, a containership charter owner, announced that it has agreed to an extension of its charter with CMA CGM for the GSL Tianjin, a 2005-built, 8,063 TEU containership. The vessel will be chartered for a period of eight to twelve months (at the charterer's option) at a fixed rate of $11,900 per day, commencing in direct continuation from its current charter on January 26, 2018. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to have secured this extension with CMA CGM for the continued employment of the GSL Tianjin.

Photo: Diana Shipping Inc.

Diana Shipping Enters into TC Contract with Uniper

Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$12,700 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter commenced on January 13, 2018. The m/v Phaidra was previously chartered to Jera Trading Singapore Pte. Ltd.

Photo: Nordic American Tankers

Nordic American Tankers Signs TC with Cepsa

Nordic American Tankers has announced that it entered into an one-year term charter with the major Spanish oil company Cepsa for a ship. The company says  is the 2004 built Nordic Castor is expected to be delivered on the time charter in late February for a contract of up to 15 months. "She is expected to be delivered on the time charter late February, subject to a satisfactory inspection in next discharge port. The fact that NAT has only one million barrel suezmax ships allows us to achieve economies of scale. The agreed rate secures a good cash flow," said a company statement.

Photo: Sevan Marine ASA

Shell Announces Plan for Penguins Filed Redevelopment

Shell announced the final investment decision for the Penguins field redevelopment project in the U.K. sector, which includes the construction of a new-build Sevan Marine designed cylindrical floating production, storage and offloading (FPSO) vessel. The Penguins field is in 165 metres of water, approximately 150 miles north east of the Shetland Islands. Discovered in 1974, the field was first developed in 2002 and is a joint venture between Shell (50 percent and operator) and ExxonMobil (50 percent).

Image: Concordia Maritime

Concordia Maritime Charters Two More MR Vessels

Swedish tanker owner Concordia Maritime has chartered in two more MR (ECO) vessels, while also extending the contracts for two of the currently chartered MR (ECO) vessels by a further year. A contract to charter out the P-MAX tanker Stena Performance has also been signed. The contractual partner is a large global oil company and the vessel will be used primarily for niche traffic in the Middle East. As with previous charters, these latest contracts are joint charters with Stena Bulk, and Concordia Maritime’s share amounts to 50 percent.

Image: Tsakos Energy Navigation

TEN Sells, Leaseback Two Suezmax Tankers

Greece-based Tsakos Energy Navigation (TEN)  has announced that it has sold for $65.2 million gross, through a five-year sale and leaseback transaction, the 2005-built Suezmax tankers Eurochampion 2004 and Euronike. The sale proceeds have been used to reduce debt and add $16.0 million of cash to TEN’s balance sheet. The vessels were delivered to their new owners in late December 2017. “Following the 15-vessel renewal program that was completed last quarter, the sale and purchase of vessels remains an integral part of TEN’s strategy to maintain its owned fleet modernity and enhance liquidity…

Photo:  MODEC, Inc.

Four Japanese Companies Join Modec in Sepia FPSO Deal

Four Japanese companies will invest in a new company established by compatriot Modec with an aim to provide a floating, production, storage and offloading (FPSO) unit for the Petrobras-operated Sepia field offshore Brazil. "MODEC, Mitsui, Mitsui O.S.K. Lines, Marubeni Corporation and Mitsui Engineering & Shipbuilding Co have agreed to jointly invest in a long-term charter business currently promoted by MODEC, for providing a FPSO in the Sepia Area, off the coast of Brazil," said a press release. These companies have entered into related agreements for the FPSO project on January 9, 2018.

Photo: Eidesvik Offshore ASA

Eidesvik Scores Work for Two Vessels

Norwegian shipping company Eidesvik Offshore ASA  has signed a letter of intent (LoI) with Seabed Geosolution for the use of  two vessels. Contract commencement are ultimo January to primo February and the duration is expected to last for the remaining part of 2018. The LoI is for the use of the multi-purpose support vessel Subsea Viking and for the use of the seismic vessel Vantage. Recently, Eidesvik Invest AS, together with some of the largest shareholders in Eidesvik Offshore, have undertaken to subscribe new equity in a private placement of NOK 120 million at a price of NOK 5 per share.

BW Catcher . Photo: BW Offshore

BW Offshore Gets Contract Extension for FPSO Polvo

BW Offshore has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022. The company has also announced that BW Catcher FPSO received the First Oil Certificate following the successful completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on 23rd December 2017. BW Catcher FPSO is owned and operated by BW Offshore and the First Oil Certificate confirms the commencement of a seven-year fixed term contract…

From left to right: Leendert Ripping, Director of Aannemingsmaatschappij Van Gelder; Ronald Paul, Director of Infrastructure & Maritime Affairs (COO), and Olaf Janssen, CEO at BTL. Photo: Port of Rotterdam Authority

Rotterdam Port Signs Pact for Maintenance of Roads, Greenery

The Port of Rotterdam Authority signed agreements with two contractors relating to what is known as the port’s dry infrastructure. One contract covers maintenance of the roads in the port and the other maintenance of the green spaces. Following a tendering procedure, Van Gelder emerged as the best choice for the road infrastructure. The green spaces will be maintained by BTL. Both contracts run for two years and an express wish has been made for them to be extended by eight years. The combined sum of the contracts comes to over 14 million euros for the first two years.

Seaspan to Raise $250m to Invest

Seaspan Corporation announced that it entered into a letter of intent (LoI) pursuant to which Fairfax Financial Holdings Limited, through certain subsidiaries, will make an investment of US$250 million in Seaspan in exchange for the issuance by Seaspan of 5.5% interest bearing unsecured debentures and Class A Common Share purchase warrants. Seaspan intends to use the proceeds from this US$250 million investment to fund future growth initiatives, debt repayment and for general corporate purposes.

Photo: TOP Ships

Top Ships Gets TC Extension for Four Vessels

TOP Ships, an international ship-owning company, announced that it has extended the time charter agreements with Stena Bulk AB (ex Stena Weco AS) by 12 months for M/T Stenaweco Energy and M/T Stenaweco Elegance and by 18 months for M/T Stenaweco Evolution and M/T Stenaweco Excellence. The Company expects a total gross revenue backlog associated with these time charter extensions of $27.4 million.

Image: Kalmar

Kalmar Signs Contract with PSA Corporation

Kalmar, part of Cargotec, has been awarded a contract for the maintenance and repair of mobile equipment from PSA Corporation Ltd for the next 3-year term. The contract supports the overall maintenance effort of a fleet of up to 700 prime movers and trailer sets at Pasir Panjang Terminal. The contract has been booked into Cargotec's 2017 fourth quarter order intake. Peter McLean, Senior Vice-President of Kalmar Asia-Pacific, said: "We have been working with PSA on the maintenance of their equipment for more than 11 years.

Normand Commander. Photo: Solstad Farstad ASA

SolstadFarstad Bags Contract for Normand Commander

Solstad Farstad ASA (SOFF) has entered a Bareboat contract with Bahia Grande LN S.A for the CSV "Normand Commander” for operation in Argentina. The contract period is 5 years firm with further 1x3 years option, commencement of the contract is February 2018. The commercial terms are confidential between the parties. Last month, Petróleo Brasileiro S.A extended the present contract for RSV “Far Swift” with approximately 1 year, in direct continuation of present contract. Contract is now firm until 4q -2018.

Photo: Hyundai Glovis

Hyundai Glovis Bags $1.3bln Contract

Hyundai Glovis, a logistics company headquartered in Seoul and part of the Hyundai Kia Automotive Group, has secured 1.42 trillion won (US$1.3 billion) in orders to ship vehicles, said a report in RTT News. The auto freight unit of South Korea's Hyundai Motor Group quoted as saying that the orders are to ship vehicles built by Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. The report said that, under the two separate deals, Hyundai Glovis said it is set to ship Hyundai and Kia cars to the United States, Europe, the Middle East and Asia until December 2019.

Phto: Samsung Heavy Industries

South Korean Shipyards Aim More Orders

South Korean shipyards have sharply raised their order targets for next year on expectations that the shipbuilding sector will improve, Yonhap reported. The country's three major shipyards - Samsung Heavy Industries (SHI), Daewoo Shipbuilding & Marine Engineering (DSME),  and Hyundai Heavy Industries (HHI) - are looking at improving business conditions  on the back of a recovery in the global economy and stable oil prices. The report quoted industry sources saying that HHI is targeting US$13.2 billion worth of new orders next year, up 76 percent from this year's $7.5 billion.

Energy Scout. Photo: Golden Energy Offshore

Total Extends Energy Scout PSV Contract

Norwegian shipowner Golden Energy Offshore Services has been awarded a contract extension for one of its platform supply vessels with Total in Nigeria. The company announced end of June 2017 to have entered into a contract with Total E&P Nigeria for the PSV Energy Scout - for a firm period of 3 months + optional periods of 3 months each. The Company announced extension end of September 2017. Energy Scout contract is now further extended in Direct continuation present firm contract and vessel now firm until 1st April 2018 + optional periods of 3 months each thereafter.

Photo: Triyards Holdings

Triyards Loses Two Shipbuilding Contracts

Triyards Holdings, the offshore marine division of Ezra Holdings, has swung deep into the red following the termination of two shipbuilding contracts worth some $51 million. "The Board of Directors of Triyards Holdings wishes to announce that its wholly owned subsidiary, Saigon Offshore Fabrication and Engineering Limited, has received notices of termination of the two shipbuilding contracts dated 26 June 2015 and the addendum dated 10 May 2017 for the design and construction…

Minister of Natural Resources, Raphael Trotman. Photo: DPI/Department of Public Information

Guyana Government Goes with ExxonMobil

Guyana's Minister of Natural Resources, Raphael Trotman said while there is no perfect contract, the government is comfortable with the terms and conditions spelt out in the Stabroek Petroleum agreement between itself and ExxonMobil and prefers a long-term, stable relationship with one exploration company rather than several. “We recognised that we had with us a company that had made a discovery, had a binding contract with the government and people of Guyana which had been signed in 1999…

Weatherford scraps JV, Sells Biz to Schlumberger

U.S. oilfield services company Weatherford International Plc on Friday sold a U.S. oil-well business to rival Schlumberger NV for $430 million, abandoning a planned joint venture. Weatherford has struggled with losses and has been looking to sell units and raise cash to reduce about $7.9 billion in debt. It suffered a $875 million loss on $4.21 billion in revenue for the first nine months of this year. In March, the company agreed to put its North American pressure pumping and…

Photo: Samsung Heavy Industries Co., Ltd

Samsung Heavy Bags USD 197 Mln LNG Carrier Order

South Korean shipbuilder Samsung Heavy Industries (SHI) has bagged a KRW 210 billion (USD 195 million) deal, for construction of an liquefied natural gas (LNG) carrier. A report in Business Korea said that SHI will ink the contract with a foreign shipping company by the end of the year, Samsung Heavy Industries officials said. The name of the company, however, remained undisclosed. SHI reportedly said it is a “foreign company”. The ship will have capacity of transporting 180,000 cubic meters of LNG and she will be probably delivered in 2020, according to local media.

Pic: National Iranian Oil Company (NIOC)

NITC Signs 200 Tanker Charter Deals

The National Iranian Tanker Company (NITC) has signed over 200 leasing contracts for its vessels since the lifting of the Western-imposed economic sanctions two years ago, Financial Tribune reported on Thursday. The report quoted Iran Tanker Company's Chief Executive Officer Sirous Kianersi saying that from the easing of the sanctions (in January 2016) until the end of last month, foreign companies signed 215 time-charter and single-voyage deals for NITC tankers. NITC signed agreements with France's Total…

Photo: FLEX LNG

FLEX LNG Sings TC for First LNGC Newbuilding

FLEX LNG announced that it has entered into a time-charter contract for the LNG carrier newbuilding, Flex Endeavour, to Uniper Global Commodities, a leading international energy company with operations in more than 40 countries, and headquarter in Germany. Flex Endeavour is a state-of-the-art 173,400 m3 cargo capacity LNG carrier equipped with the new high efficiency MEGI propulsion system. The Vessel is currently under construction at DSME, South Korea. The time charter period is for 15 to 18 months commencing immediately upon the delivery from the shipyard in January 2018.

Photo: Island Offshore Management

Kawasaki, Island Offshore Drop Shipbuilding Contract

Kawasaki Heavy Industries (KHI) has decided to terminate, by agreement with Island Navigator In KS, its shipbuilding contract for the top hole drilling/light well intervention vessel, Island Navigator. The yard state that is has been facing difficulties in its engineering process as well as with increases of material costs since the contract was signed. Combined with a common understanding that the environment surrounding the offshore development industry is, and will be, severe and unpredictable in the period of the Vessel’s remaining construction…

Photo: ​d’Amico International Shipping S.A.

D'Amico Announces Sale & Lease Back of MR Vessel

D'Amico Tankers (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Freedom, a 49,990 dwt medium-range product tanker vessel, built in 2014 by Hyundai-Mipo, South Korea for a consideration of US$ 28.0 million. D'Amico Tankers is an operating subsidiary of d’Amico International Shipping S.A., an international marine transportation company operating in the product tanker market. This transaction allows d’Amico Tankers to generate around US$ 13.4 million in cash…

Photo: Diana Shipping Inc.

Diana Shipping to Continue TC with Glencore

Diana Shipping announced that through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$12,500 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to about 19 months. The new charter period is expected to commence on January 3, 2018. The m/v Leto is currently chartered, as previously announced, at a gross charter rate of US$7,750 per day, minus a 5% commission paid to third parties.

Image: Sembcorp Marine Ltd

Sembcorp Marine to Sell West Rigel

Sembcorp Marine announced that its wholly-owned subsidiary Jurong Shipyard Pte Ltd (JSPL) has signed an agreement for the sale of the semi-submersible rig West Rigel (Rig) to a buyer at a price of US$500 million. Under the terms of the agreement, the Sale is subject to conditions precedent being met by both parties before the delivery of the Rig and the payment of the price. Once the conditions precedent are fulfilled, the buyer will take delivery of the Rig but the Rig will remain in the Company’s yard for certain works to be undertaken for reactivation.

A view of Tyra East in the Danish North Sea Photo: McDermott International, Inc.

McDermott Wins Tyra EPC Work near Denmark

McDermott International announced a substantial contract award from Mærsk Olie og Gas A/S (Maersk Oil) for engineering, procurement, construction and commissioning (EPCC) services for the Tyra Redevelopment project, located offshore in the Danish sector of the North Sea. “This award heralds our return to the North Sea and is a part of our strategic growth strategy,” said Scott Munro, Vice President of Americas, Europe and Africa. “By executing our part of the Tyra Redevelopment project from Kuala Lumpur and Batam…

Photo: Shell

Kuwait Signs LNG Import Deal With Shell

Kuwait Petroleum Corp. (KPC) has signed a 15-year liquefied natural gas import deal with Royal Dutch Shell Plc to help the oil exporting nation meet growing domestic energy demand. A report in Bloomberg said that the sales purchasing agreement with Shell International Trading Middle East Ltd. will start in 2020. The contract will cover 2 million to 3 million metric tons of LNG a year. The volumes delivered under the contract will be used to fire up KPC’s power stations. A press…

Photo: FSL Trust

HSH Nordbank to Exit First Ship Lease

HSH Nordbank AG's  subsidiary Godan GmbH, the controlling unitholder of First Ship Lease Trust (FSL Trust), is looking to divest all its shares in FSL Holdings, the sponsor of the trust, reported Business Times. The report quoted FSL Trust as saying that Godan GMBH is in discussion with shortlisted strategic investors for a potential sale of all of its shares in FSL Holdings. FSL Holdings also owns all shares of the trustee-manager of FSL Trust through FSL Asset Management Pte Ltd.

Photo: MPI Offshore B.V.

MPI Pact with Eneco for Prinses Amaliawindpark

MPI Contractors B.V. has signed a contract with Eneco Windmolens Offshore B.V. to provide offshore transport and lifting services during main component replacements planned for wind turbines in the Prinses Amaliawindpark. This Agreement, which will take effect on 1 January 2018, is for a period of five years, with options to extend for a further three and two years. During this period, MPI will mobilise one of its wind turbine installation vessels (WTIVs) for two planned campaigns per year.

 Arctic Aurora. Photo: Dynagas Ltd

Dynagas Announces TC for LNG Carrier Pair

Dynagas LNG Partners has announced that a Partnership has entered into a new three year charter agreement with Statoil ASA (Statoil) for the employment of the Arctic Aurora, its 2013-built, 155,000 cubic meter, tri-fuel diesel engine, ice class liquefied natural gas (LNG) carrier. The Arctic Aurora is currently, and has been since 2013, on charter to Statoil. The Extended Charter is expected to commence in the third quarter of 2018 in direct continuation of the Current Charter…

M/V Erato. Photo: Diana Shipping Inc.

Diana Shipping Updates on Time Charter Contracts

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Erato. The gross charter rate is US$10,500 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to maximum 17 months. The new charter period is expected to commence on December 30, 2017.

Kalmar AutoStrad. Photo: Cargotec Corporation

Kalmar Bags Wilhelmshaven Pilot Project

Kalmar, part of Cargotec, has won a tender to supply an automated straddle carrier system for EUROGATE as its Container Terminal Wilhelmshaven is entering the next phase. The order has been booked into Cargotec's 2017 fourth quarter order intake. Kalmar will deliver four automated 4-high straddle carriers as well as an emulation system for the container terminal. Both the live equipment and emulation environment will utilise Kalmar's Terminal Logistics System (TLS), which allows all automated equipment…

Photo:  Cosco  Shipping Energy Transportation

Guangzhou Shipyard Bags Order for Seven Tankers from Cosco Shipping

Cosco  Shipping Energy Transportation (CSET) has placed an order for seven more ships at compatriot Guangzhou Shipyard International Company Limited (GSI), owned by CSSC Offshore & Marine Engineering Company Limited. The order will include two 64,900 dwt crude oil tankers, two 109,900 dwt LR2 vessels and three 114,000 dwt crude tankers, totaling in an investment worth approximately USD 323 million (RMB 2.14 billion.). Expected delivery dates for the two 64,900 dwt panamax crude tankers are on or before 29 February 2020 and 31 May 2020, respectively.

Photo: Dania Ship Management A/S

Clipper Fleet, Dania Ship Announce Partnership

Dania Ship Management has announced plans to extend ship management capabilities to include dry cargo in a partnership agreement with Clipper Fleet Management, part of the Clipper Group. The partnership, which strengthens the commitment by V.Group, Nordic Tankers and Clipper Group to create a compelling platform for Copenhagen based ship management solutions, will see the transfer of 28 shore-based employees and around 1,000 seafarers to Dania Ship Management. With access to V.Group’s global marine services offering and Dania’s ship management platform…

(Photo: Nisomar)

Nisomar Awarded First Launch Services Contract

The new data-driven maritime services company Nisomar confirmed a launch services partnership agreement with Norwegian Cruise Line Holdings for the 2017/18 cruise season in Chile. The agreement will see Nisomar South America provide launch services to the company’s Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises brands across 10 Chilean ports including pilot embarkation/disembarkation, berthing assistance, liaison with local port authorities and service launches for each visit.

Photo: ABS

ABS Partnership Enhances Safety in Ghana’s Offshore Industry

ABS, a leading provider of classification and technical services to the marine and offshore industries, formed a joint venture with Notabene Classification Limited to offer regulatory and technical support services, including key classification services to the upstream oil and gas market in Ghana. “This joint venture is an important milestone and demonstrates our strong commitment to advancing safety in all parts of the globe,” said ABS Executive Vice President, Global Offshore, Kenneth Richardson.

Photo: Emirates Global Aluminium PJSC

Khalifa Port to Handle World's Largest Ships

Emirates Global Aluminium, the largest industrial company outside oil and gas, has signed a long-term port facility agreement with Abu Dhabi Ports to use some of the world’s largest bulk cargo vessels to import raw materials through Khalifa Port. With this agreement, Abu Dhabi Ports will be able to develop the port to become the first in the Gulf capable of directly handling these massive ships. Abu Dhabi Ports will fund and complete dredging and widening works to the Khalifa Port approach channel and basin including EGA’s berth.

M/V Boston. Photo: Diana Shipping Inc.

Diana Shipping Time Charters Capesize Bulker

Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with EGPN Bulk Carrier, Hong Kong, for one of its Capesize dry bulk vessels, M/V Boston. The gross charter rate is $17,000 per day, minus a 5 percent commission paid to third parties, for a period of minimum 16 months to maximum 19 months. The charter commenced yesterday. The m/v Boston was chartered, as previously announced, to Clearlake Shipping Pte. Ltd., Singapore, at a gross charter rate of $13…

Floaters. Photo: Sembcorp Marine Ltd.

Sembmarine Inks LoI with Shell for FPU

Sembcorp Marine announced that its wholly-owned subsidiary Sembcorp Marine Rigs & Floaters has signed a Letter of Intent (LOI) with Shell Offshore for the construction of the hull and topside as well as the integration of the Vito floating production unit (FPU). If the project moves forward, the Vito FPU will be a new facility located in the Mississippi Canyon, approximately 150 miles south of New Orleans, Louisiana, USA, in water depth of 4,050 ft. Comprising a single topside module supported by a 4-column semisubmersible floating hull…

Left: Alufer CEO Bernard Pryor Right: MOL Managing Executive Officer and Director General of Dry Bulk Business Unit Toshiaki Tanaka. Photo: MOL

MOL Signs Bauxite Transport Deal with Alufer Mining

Mitsui O.S.K .Lines (MOL) announced that it held a signing ceremony for a five year bauxite transport contract with Alufer Mining .The contract was signed by Toshiaki Tanaka, MOL's Head of Dry Cargo, and Bernard Pryor at MOL's offices in Tokyo. Republic of Guinea based independent mineral exploration and development company Alufer has received all required permissions from the government with regard to building the Bel Air bauxite mine and construction commenced in January 2017.

Photo: BIMCO

BIMCO, FONASBA Launch General Agency Agreement

BIMCO and FONASBA have once again joined forces to create and launch a new general agency agreement for port agents, shipowners and ship operators contracting port agency services. The new standard contract, which can be downloaded from the FONASBA website and BIMCO’s IDEA, formalizes and sets out clear terms for any agreements made, for the benefit of both sides. Drawn up by the group responsible for drafting the Agency Appointment Agreement which was released earlier this year, the new contract is easy to use and can readily be adapted for single use or a long-term contract.

Photo credit: MSC Mediterranean Shipping Company

MSC Hires MacGregor to Upgrade 31 Vessels

MacGregor, part of Cargotec, has received orders to optimise the container carrying capabilities of 31 Mediterranean Shipping Company (MSC) vessels from six different ship series. The work is designed to optimise ships' cargo system productivity and earning potential. The orders were booked into Cargotec's third and fourth quarter 2017 order intakes and deliveries are planned for completion towards the end of 2018. "Container vessels are an integral part of the whole transportation value chain…

Photo: SolstadFarstad

SolstadFarstad Wins New Contracts in Australia

SolstadFarstad ASA (SOFF) has been awarded several new contracts for the provision of vessels within Australia. McDermott International Inc. affiliated company, MAPL have awarded the provision of a General Purpose Support Vessel, Far Stream, and pipe-haul PSV’s performing services for work Offshore Western Australia. The contract is due to commence during Q1/Q2 2018 and the combined vessels utilization is approx. 200 days. Cooper Energy has supplemented their earlier award of Far Saracen and Far Senator for their upcoming Bass Strait drilling campaign…

M/V Hamburg. Photo: Diana Containerships Inc.

Diana Containerships TC with Wan Hai Lines

Diana Containerships announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Wan Hai Lines (Singapore) for one of its Post-Panamax container vessels, the m/v Hamburg. The global shipping company specializing in the ownership of containerships said in a press release that the gross charter rate is US$11,000 per day, minus a 3.75% commission paid to third parties, for a period of minimum 120 days to maximum 220 days. The charter commenced on December 01, 2017.

Photo: Pan Ocean

PanOcean Signs USD 1.8bln Deal with Brazil's Vale, Orders Six VLOCs

South Korean shipper Pan Ocean has won a 1.98 trillion won ($1.82 billion) contract to transport iron ore over a period of 27 years for Brazilian mining giant Vale, Reuters reported. The South Korea company said in a regulatory filing that it is set to carry iron ore from Brazil to China from January 2020 to August 2047. According to Straits TImes, the contract commences from the first quarter of 2020. "The main objective of the company for entering into this COA is to secure a stabilised source of revenue and profit," said Pan Ocean.

Novatek, Marubeni, Mitsui agree on LNG hub in Kamchatka

Russia's Novatek said on Tuesday it had signed a memorandum of understanding with Japan's Marubeni and Mitsui O.S.K. Lines to explore options for a liquefied natural gas complex in Russia's Kamchatka region.   Novatek added that the action plan was to explore opportunities to establish an LNG transshipment and marketing complex at Kamchatka in Russia's far east.   Novatek plans to launch its first LNG plant on Russia's Yamal peninsula next month, to export supercooled gas both to Europe and Asia. (Reporting by Katya Golubkova; Editing by Dmitry Solovyov)

Photo: Wärtsilä

Wärtsilä to Equip US LNG Fueling Barge

Wärtsilä said it will provide a broad scope of products and solutions for a new articulated tug barge (ATB) that will be used to supply liquefied natural gas (LNG) fuel to cruise ships along the east coast of Florida, U.S. The 4,000 m3 capacity ATB is being built at the VT Halter Marine (VTHM) shipyard in Pascagoula, Miss. on behalf of Quality Liquefied Natural Gas Transport LLC (Q-LNG). When delivered, the vessel will be on a long-term charter with Shell Oil Co. The barge will be fitted with a Wärtsilä LNG cargo storage, handling and control system.

Photos: Dromon Bureau of Shipping (DBS).

Panama Maritime Authority Authorizes Dromon Bureau of Shipping

Panama Maritime Authority has authorized Dromon Bureau of Shipping (DBS) as a Classification Society, Recognized Organization (RO) and Recognized Security Organization (RSO) to perform class and statutory certification services on behalf of the Flag Administration. The agreement was signed by Fernando Solorzano, General Director of Merchant Marine of the Republic of Panama and Andreas Nicolaou, Managing Director of DBS. The signing ceremony took place on 24th of November 2017 at the presence of Honourable Jorge Barakat Pitty…

Norfolk. Photo: Diana Shipping Inc.

Diana Shipping New TC Contract with SwissMarine

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Norfolk. The gross charter rate is US$13,250 per day, minus a 5% commission paid to third parties, for a period of minimum 21 months to maximum 24 months. The charter is expected to commence on December 1, 2017.

Left: Two 117m high-speed vehicle passenger ferries to be built by Austal for Fred Olsen SA of Spain (Image: Austal). Right: The 127m Benchijigua Express was the world’s first and largest trimaran hull vehicle passenger ferry, designed and built by Austal for Fred Olsen SA in 2005. (Image: Austal)

Austal Opens Up Trimaran Deal with Fred Olsen

Austal’s latest contract announcement for two 117 metre high speed vehicle passenger ferries, for Fred Olsen SA, not only sends a strong signal to the international market that ‘fast ferries are back’, but confirms Austal’s proven trimaran hull design as the most cost effective and highly capable vessel platform to deliver superior seakeeping and schedule performance. The €126million Euro (A$190million) contract, announced at Interferry 2017 in Split Croatia represents Fred Olsen SA’s largest ever ferry order.

Photo: Gazprom

Gazprom, Shell Discuss LNG Projects

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in St. Petersburg. The meeting addressed relevant aspects of strategic cooperation. Particular attention was paid to joint efforts in the liquefied natural gas (LNG) sector. The parties discussed the construction project for the third train of the LNG plant on Sakhalin Island and the progress of the Joint Study Framework Agreement for the Baltic LNG project. The meeting also focused on the Nord Stream 2 project.

Photo: Boston Carriers Inc

Boston Carriers Completes Contract of MV Nikiforos

Boston Carriers announces that on October 2017, Nikiforos completed a spot voyage contract to transport approximately 33,000 tons of dry bulk cargo from South America to the Middle East. The contract contributed approximately 1,283,000 USD in the revenues of the Company. Nikiforos has transported approximately 183,000 tons of dry bulk cargo from the beginning of the year and until the date of completion of this voyage and has produced operating revenues of approximately 3,2 million usd compared to approximately 2,1 million usd for the year ended in December 31 2016. Boston Carriers Inc.

Photo: TNPA

Ports of Durban and Cape Town Up Next for New Transnet Tugs

Transnet National Ports Authority (TNPA) launched its penultimate tug as part of its R1.4 billion, nine-tug construction contract, at Southern African Shipyards. UMKHOMAZI, meaning “place of cow whales” in isiZulu, will serve at the Port of Durban. All nine tugs are being built by Southern African Shipyards in Durban. Friday’s event also saw the handover to TNPA of the seventh tug, USIBA, which was named and launched in August. TNPA GM: Commercial & Marketing and Lady Sponsor of UMKHOMAZI, Lauriette Sesoko, revealed that USIBA would now be delivered to the Port of Cape Town.

Photo: "K" Line

“K” Line Introduces Auto Logistics in Chile

KAR Logistics S.A. (hereinafter shown as KAR*), Joint Venture Company between “K” Line and Agencias Universales S.A.(AGUNSA), which handles Total Logistics Services in Chile and other South and Latin American, has started Auto-Logistics service in Santiago, Chile from Aug, 2017. Customer requirements for services related to automobiles in Chile and other South and Latin American that are showing continuous growth of vehicle sales and imports have been on the increase. With the combined know-how of the two joint venture companies…