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Thursday, October 18, 2018

New York News

© A.F. van Rhijn / MarineTraffic.com

Supertanker Hauling Saudi Crude U-turns After Recent Attack

A supertanker carrying Saudi Arabian crude has turned around near the Bab El-Mandeb strait, days after the world's top exporter said it was suspending all oil shipments through the strait following an attack by Yemen's Iran-aligned Houthi movement on two other ships.The Khuzama, a Very Large Crude Carrier (VLCC) transporting about 2 million barrels of oil, has made a U-turn and is now sailing east - ClipperData and Reuters vessel tracking data.Yemen, where a Saudi-led coalition has been battling the Houthis in a three-year war, borders the strait, which connects the Gulf of Aden to the Red Sea

Photo: Port Manatee

Port Manatee, Carver Maritime Ink Long-term Terminal Deal

Port Manatee and Carver Maritime LLC have entered a long-term marine terminal operating agreement for a 10-acre aggregate offloading facility at the Florida Gulf Coast port.The agreement, for as many as 20 years including options, was approved Thursday by the Manatee County Port Authority and ensures property lease payments totaling $1.8 million for the initial five-year term, in addition to wharfage payments for annual cargo throughputs.Carver Laraway, president of Altamont,…

Image: Pacific Drilling

Pacific Drilling to Raise USD700mln for Restructuring

Pacific Drilling  announced that a special purpose wholly owned subsidiary of the Company intends to offer $700 million aggregate principal amount of senior secured first lien notes that mature five years following their issuance, subject to market conditions.The notes are being offered in connection with the restructuring of Pacific Drilling as part of the First Amended Joint Plan of Reorganization filed with the U.S. Bankruptcy Court for the Southern District of New York on August 31…

Image: Watson Farley & Williams

WFW Advises CMBFL on Sale, Leaseback of 15 Dry Bulker

Watson Farley & Williams (WFW) has advised CMB Financial Leasing (CMBFL) on a US$180.4m sale and leaseback transaction with Star Bulk Carriers Corp, a Nasdaq-listed global shipping company providing worldwide seaborne transportation of dry bulk cargoes.The funds obtained by Star Bulk under this new five-year capital lease of US$180.4m entered into with CMBFL were used to part-finance the cash portion of the consideration with regards to Star Bulk’s acquisition of 15 dry bulk vessels from Norwegian shipowner Songa Bulk ASA.Founded in 2008…

Photo courtesy of Cal Maritime

Change of Command for Cal Maritime's Training Ship

After 10 years at the helm, Harry Bolton handed over command of the Training Ship Golden Bear Wednesday at California State University Maritime Academy.Bolton, a 1978 graduate of the Academy, returned to Cal Maritime on May 1, 2008 after a 30-year career with American Maritime Officers. Twenty of those years were with American Overseas Marine Corporation (AMSEA) aboard the original preposition ships based out of Guam, Saipan and Diego Garcia. Bolton began sailing as Master in 1985, only seven years after graduation.Dr.

File Photo: ZIM Integrated Shipping Services Ltd

ZIM Annouces New Asia - America Network with 2M

Zim Integrated Shipping Services (ZIM) has announced the new Strategic Partnership Agreement with the 2M alliance, details of the new improved Asia - U.S. East Coast – Asia network that are now available.Nissim Yochai, ZIM EVP Trans Pacific Trade, said: "The new alignment will enable ZIM customers to enjoy the best of both worlds: ZIM’s highly reputed personalized service, along with the best-in-market infrastructure and product.”The new upgraded network includes 5 services under the ZIM+2M cooperation…

Maritime Finance Lawyer Johnson Joins Haynes and Boone

Mark Johnson, a transactional lawyer and former naval officer and ship captain, has joined Haynes and Boone, LLP as a London partner in the firm’s Shipping Practice.Johnson has extensive experience advising on the construction, sale and purchase, financing, management, operation and ownership of all types of vessels, including some of the world’s largest super yachts. His clients range from major banks and oil companies to shipowners, leasing companies and shipyards.Johnson served 13 years in the Royal Navy…

Callen Marine's CSD General Eisenhower in action in the port of Galveston, Texas (CREDIT: Callen Marine)

Doubling Down on Domestic Dredging

U.S. Dredgers Weigh in on Infrastructure, U.S. Capabilities and the road ahead.Domestic dredging firms face many challenges in the coming months and years. At the same time, opportunities abound in a market and political climate that seems to beg for infrastructure upgrades, especially when it comes to harbors and inland waterways. Weighing in this edition on all of that – and more – are three U.S.-based dredging firms; Callan Marine, Cashman Dredging, and Weeks Marine.Cranford, NJ-based Weeks Marine, Inc.

Francesco Di Sarcina secretary general port of La Spezia. (Photo: Greg Trauthwein)

Port of La Spezia to Grow Container Handling Capacity 33%

Officials from the Italian Port of La Spezia and Contship Italia were in New York City today to discuss new investment in and strategic advantages of this historic port and facilities nestled in the Northwest corner of Italy.The second largest port in Italy, the Port of La Spezia counts geographic location as its first advantage, boasting a 48-ft. depth and situated on the Mediterranean Sea, the crossroads between Europe, Africa and the Middle East. While Asia dominates trade to and from La Spezia with nearly 45% of its business…

Marco Ryan, Chief Digital Officer & EVP, Wärtsilä. Photo: Wärtsilä

Marco Ryan Plots a Digital, Connected Course for Wärtsilä

When talk turns to the digital revolution sweeping through the maritime industry, one need look no further than Wärtsilä, which has evolved from a shipbuilding company to an engine manufacturer, and is now embarked on a historic digital transformation led by Marco Ryan, Chief Digital Officer & EVP. We met with Ryan recently in Hamburg, Germany, to discuss the path and pace forward.To start, please lay out the scope of your responsibilities.At a high-level my job is to architect and deliver the transformation (of Wärtsilä) to a smart technology company.

NACC Alicudi. Image courtesy Van Aalst.

Cement Carrier Sports Innovative, 'Green' Cargo System

NACC Alicudi is reported to be the world’s first cement carrier equipped with IMO Tier III compliant diesel engines driving the bulk handling system. Converted in 2017 with a Van Aalst dry bulk handling system, the vessel became a unique and state-of-the-art 120m self-discharging cement carrier, with a cement handling system is based on compressors and vacuum pumps, driven by Tier III Scania engines. Together they form the heart of the unique vacuum-pressure system for pneumatic conveyance of cement…

McInnis Cement plants a maple tree with officials and members of community organizations to celebrate the opening of the company’s new terminal. From left to right: Ramon Cabral, Deputy District Director; Nick Madio, Bronx Community Board 2; Maria Torres, President & COO, The Point; Laurent Beaudoin, Chairman, McInnis Cement; Jean Moreau, President and CEO, McInnis Cement; Rafael Salamanca, Councilman & Chair of the Land Use Committee; Ralph Acevedo, District Manager, Bronx Community Board 2; an

New Cement Terminal Opens in the Bronx

McInnis Cement’s new terminal in the Bronx, N.Y. is the first new industrial maritime project built on the South Bronx waterfront in more than half a century.The newly constructed 100,000-square-foot, 24/7 operational terminal has been built for storing and distributing cement in New York City and beyond. With large ocean vessels sailing from the company’s plant in Port-Daniel—Gascons, Canada to the Bronx, the warehouse on site can store up to 44,000 metric tons of cement, which is the equivalent of 1,500 truckloads.

ZIM Improves Cross-Atlantic Services

ZIM has announced changes and improvements of the services between the Mediterranean and the US East Coast & Canada, ZCA and ZCI. The upgrades are planned to start in December (subject to regulatory approval), as follows: • ZIM’s flagship ZIM Container Service Atlantic (ZCA), connecting main Mediterranean ports, US East Coast & Canada, will have the following rotation:Mersin – Ashdod – Haifa – Aliaga – Piraeus – Livorno – Barcelona - Valencia – Halifax – New York –  Norfolk – Savannah – Valencia – Tarragona – Mersin  • ZIM Container Service Italy (ZCI)…

Jennifer Polli, President and Chief Executive Officer at TRAC Intermodal (Photo: TRAC Intermodal)

TRAC Intermodal Named a Best Chassis Provider

The Association of Bi-State Motor Carriers has recognized TRAC Intermodal as both the Best Overall Chassis Provider in the Port of New York-New Jersey and for Outstanding Customer Service for the third consecutive year. James Bowe, TRAC Intermodal’s Senior VP and Chief Commercial Officer, also received the Dick Jones Award for Outstanding Assistance and Customer Service.When presenting the award, Bi-State Motor Carriers President Jeff Bader acknowledged that, "providing drivers with reliable…

Image: Ocean Network Express

Ocean Network Express Alliance to Enhance Atlantic 6 Services

Hapag-Lloyd, Ocean Network Express, and Yang Ming announced the strategic cooperation with CMA-CGM, COSCO, OOCL to enhance their Mediterranean-U.S. East Coast service AL6 (Atlantic 6) to deliver a more efficient and comprehensive service quality.The improved service is consolidating the AL6 service (operated by Hapag-Lloyd, Ocean Network Express, and Yang Ming), and the Amerigo service (operated by COSCO, CMA-CGM, OOCL) into one larger loop with a deployment of six 8,000-TEU vessels (three by Hapag-Lloyd…

Image: ZIM Integrated Shipping Services Ltd.

ZIM Improves its Cross-Atlantic Services

ZIM Integrated Shipping Services (ZIM) has announced changes and improvements of the services between the Mediterranean and the US East Coast & Canada, ZCA and ZCI.The upgrades are planned to start in December (subject to regulatory approval), as follows:ZIM’s flagship ZIM Container Service Atlantic (ZCA), connecting main Mediterranean ports, US East Coast & Canada, will have the following rotation: Mersin – Ashdod – Haifa – Aliaga – Piraeus – Livorno – Barcelona - Valencia – Halifax – New York –  Norfolk – Savannah – Valencia – Tarragona – Mersin ZIM Container Service Italy (ZCI), in cooperat

(Photo: Port of Corpus Christi)

Port of Corpus Christi Raises $216.2 Mln in Bond Sale

The Port of Corpus Christi said it has raised $216.2 million to support the deepening and widening its ship channel and other projects through a Senior Lien Revenue Bonds sale.“We are pleased with the level of interest the institutional investment community demonstrated for both series of our bonds,” said Sean Strawbridge, CEO of the Port of Corpus Christi. “This round of funding will help the Port of Corpus Christi further progress our ambitious yet achievable capital investment…

Photo: Port of Corpus Christi

Port of Corpus Christi Raises USD 216mln for Ship Channel Expansion

Port of Corpus Christi successfully priced and sold $216.2 million of Senior Lien Revenue Bonds. These bonds will be used for both the deepening and widening of the Corpus Christi Ship Channel as well as upcoming capital projects within the Port.Wells Fargo Securities acted as Lead Manager of a syndicate of underwriters including JP Morgan, Citigroup, and Frost Bank.“We are pleased with the level of interest the institutional investment community demonstrated for both series of our bonds.” said Sean Strawbridge, CEO of the Port of Corpus Christi.

Rob Jenkins (Photo: Port Everglades)

Port Everglades Names Jenkins Port Security Manager

Port Everglades has appointed Robert “Rob” Jenkins to the position of Port Security Manager, a promotion from Security Compliance Manager.In his new position, Jenkins will be responsible for overseeing security and fire rescue operations and management for the Port, as well as facilitating related contracts, grants and funding. Additionally, he will interface with federal, state and local regulatory agencies that operate in Port Everglades.Jenkins joined the Port staff in 2013.

Dorothea Ioannou (Photo: The American Club)

American P&I Club Manager Prepares for Further Growth

Shipowners Claims Bureau, Inc. (SCB), the Manager of the American P&I Club, has recently announced a series of appointments designed to service the Club’s growing membership and help fulfil longer-term goals of continued expansion. The American Club has grown its membership substantially over recent years, tonnage having increased by some 25 percent over the past 24 months, and these appointments are intended to consolidate the Club’s continuing service capabilities in the future.The…

Photo: Danaos Corporation

Norton Rose Fulbright, Citibank on USD 2.2bln Danaos Corp Restructuring

Global law firm Norton Rose Fulbright has advised Citigroup and other lenders of Danaos on a $2.2 billion restructuring of NYSE-listed Danaos Corp (DAC), one of the world’s largest independent owners of modern, large-size containerships.Norton Rose Fulbright’s Athens, London and New York offices advised Citigroup and certain other lenders (including China Exim Bank and Eurobank) on new money, take out and refinancing facilities, restructuring support agreements, debt for equity arrangements…

Jennifer Polli (Photo: TRAC Intermodal)

Polli to Replace Lovetro as TRAC Intermodal CEO

TRAC Intermodal announced that Keith Lovetro, President and Chief Executive Officer, will retire on July 31, 2018. Jennifer Polli has been named to replace Lovetro as President and Chief Executive Officer effective August 1, 2018.Lovetro, who has led the company since joining in 2011, solidified TRAC Intermodal as a leading provider of intermodal equipment and services.Polli, who joined TRAC in 2012, has been a member of TRAC’s executive leadership team and has led multiple business functions at the ccompany, including pricing, asset management, marketing and product development.

Board of Directors. Photo: Diana Shipping Inc.

Diana Shipping Appoints Directors and Executive Officers

Diana Shipping announced that, effective August 1, 2018, the Company increased the size of its Board of Directors from nine to eleven members.The global shipping company specializing in the ownership of dry bulk vessels appointed Christos Glavanis to serve as a Class I Director and appointed Mr. Andreas Michalopoulos, the Company’s Chief Financial Officer and Treasurer, to serve as a Class III director, in each case effective August 1, 2018.The Board has determined that Glavanis is an “independent director” as such term is defined under the Securities Exchange Act of 1934…

The One Minato, the magenta-coloured 14,000 TEU-class containership made a successful call at the Yantian International Container Terminals. Photo: Ocean Network Express (East Asia). Ltd.

One Minato Shines Through Port of Yantian

Ocean Network Express East Asia (ONE EA) has celebrated the maiden voyage of the second of a series of seven 14,000 TEU-class magenta containership of the company, ONE MINATO at Yantian International Container Terminals Limited (YICT).Sailed under the flag of Japan,  One Minato is a newly built 14,000 TEU-class containership which was delivered from Imabari Shipbuilding Co., Ltd. in Hiroshima, Japan on 24 July 2018.At 365.94 metres length and 51.2 metres width, the vessel deployed on THE Alliance’s Asia to North America East Coast trade (EC4 service)…

Photo: Scorpio Bulkers Inc.

Scorpio Bulkers Gets New Build Financing form Nordic Banks

Scorpio Bulkers announced that it has received a commitment from Nordea AB (publ), acting through its New York branch, and Skandinaviska Enskilda Banken AB (publ) for a loan facility of up to $184.0 million.The loan facility will be used to finance up to 60% of the fair market value of six Ultramax dry bulk vessels (SBI Athena, SBI Thalia, SBI Zeus, SBI Hera, SBI Poseidon and SBI Apollo) and six Kamsarmax dry bulk vessels (SBI Conga, SBI Bolero, SBI Sousta, SBI Rock, SBI Reggae and SBI Mazurka).The loan facility…

(Credit: Callan Marine)

Doubling Down on Domestic Dredging

U.S. dredgers weigh in on infrastructure, U.S. capabilities and the road ahead.Domestic dredging firms face many challenges in the coming months and years. At the same time, opportunities abound in a market and political climate that seems to beg for infrastructure upgrades, especially when it comes to harbors and inland waterways. Weighing in this edition on all of that – and more – are three U.S.-based dredging firms; Callan Marine, Cashman Dredging, and Weeks Marine.Cranford, N.J.-based Weeks Marine, Inc.