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Who s guilty in Egypt s accident, COSCO s Captain or Egyptian dockers?
Who s guilty in Egypt s accident, COSCO s Captain or Egyptian dockers? Maritime Bulletin (press release)Full coveragePosted On:15-Nov-2017
Credits: maritimebulletin.net |
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New supply ship strengthens PLA s carrier strike group
New supply ship strengthens PLA s carrier strike group Asia TimesFull coveragePosted On:15-Nov-2017
Credits: www.atimes.com |
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GTT to Design LNG Tanks for Dynagas’ New Ships
Chinese shipyard Hudong-Zhonghua Shipbuilding has hired France-based Gaztransport et Technigaz (GTT) to design liquefied natural gas tanks for two floating storage and regasification units (FSRUs). The contract is related to two dual purpose vessels, which are capable of operating as efficient LNG carriers and FSRUs, which are under construction at Shanghai, China. The vessels are being […]Posted On:15-Nov-2017
Credits: worldmaritimenews.com |
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Navios Partners Delivers Profit in Q3
Greek owner and operator of dry bulk and container vessels Navios Maritime Partners closed the third quarter of this year with a net income of USD 9.2 million, recovering from a net loss of USD 33.9 million reported in the same period a year earlier. EBITDA for the three-month period was USD 41 million, against an […]Posted On:15-Nov-2017
Credits: worldmaritimenews.com |
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Maersk: Shipping Must Up Its Game to Cut Pollution
The shipping industry must take responsibility for its fair share of carbon emissions in order to tackle climate change, according to global transportation conglomerate A.P. Moller – Maersk. “Raising the ambition for global regulation remains crucial to ensure shipping’s contribution to reach the Paris Agreement’s goal of staying below 2°C temperature rise,” John Kornerup Bang, […]Posted On:15-Nov-2017
Credits: worldmaritimenews.com |
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K Line Adds VLCC Kisogawa to Its Fleet
Japan’s shipping major Kawasaki Kisen Kaisha (K Line) has expanded its fleet as it took delivery of the 311,000 dwt very large crude carrier (VLCC) Kisogawa on November 15. The newbuilding, which was constructed by China’s Nantong Cosco KHI Ship Engineering (NACKS), features a length of 339 meters and a beam of 60 meters. K Line informed that […]Posted On:15-Nov-2017
Credits: worldmaritimenews.com |
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Integration of UASC Drives Hapag-Lloyd’s Q3 Profit Surge
German container carrier Hapag-Lloyd closed the third quarter of the year with EUR 54.3 million of net profit (USD 64.1 million), a significantly bolstered earnings when compared to the net profit of EUR 8.2 million posted in the same quarter a year earlier. The Q3 EBIT rose to EUR 180.6 million from corresponding EUR 65.6 million in […]Posted On:15-Nov-2017
Credits: worldmaritimenews.com |
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TORM Buys Six MR Resale Tankers
Copenhagen-based shipping company TORM purchased six MR resale vessels for a total consideration of USD 185 million during the third quarter of this year. As informed, the first transaction included four MR resale vessels from Guangzhou shipyard international Company Limited (GSI) with expected delivery in 2019. The second transaction included two MR resale vessels from Hyundai […]Posted On:15-Nov-2017
Credits: worldmaritimenews.com |
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Turk Loydu to Certify Panama-Flagged Ships
The Panama Maritime Authority has authorized Turkish classification society Turk Loydu to conduct survey and certification activities for Panama-flagged ships. The two parties signed an authorization transfer protocol in Istanbul on November 7, 2017. In accordance with the signed authorization, Turk Loydu, as a recognized organization, will be able to issue classification certificates and carry […]Posted On:15-Nov-2017
Credits: worldmaritimenews.com |
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Storm Causes Congestion Issues at Vietnam’s Port
Vietnam’s port of Qui Nhon is experiencing severe congestion as a storm in the area caused a number of vessels to sink, thereby blocking ship traffic in a nearby channel. After the storm, which caused significant disruption at the port, hit the area on November 4, Qui Nhon port authority issued a temporary block of channel […]Posted On:15-Nov-2017
Credits: worldmaritimenews.com |
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SPC, IMO Train Regional Maritime Trainers As Simulator, ECDIS Instructors
SPC, IMO Train Regional Maritime Trainers As Simulator, ECDIS Instructors Fiji Sun OnlineFull coveragePosted On:15-Nov-2017
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Europort confirms role as international maritime business hub
Europort’s vital role as a hub for global maritime business was reflected in its continuing attractiveness to international visitors and a series of business deals signed while the 2017 event was in session. A busy four days in Rotterdam starting 7 November saw 26,733 visitors from 93 countries descend on the Rotterdam Ahoy venue, where ...Posted On:15-Nov-2017
Credits: www.hellenicshippingnews.com |
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ICBC Invests in BW Offshore's Catcher FPSO
Operator of FPSO units BW Offshore has closed a contract with a nominee of the financial leasing firm ICBC Financial Leasing through which the nominee becomes an equity partner in the BW Catcher FPSO.
The equity investment, undertaken through the subscription of preference shares, is the first transaction under a cooperation agreement signed between the parties in April 2017.
BW Catcher Limited has issued preference shares with a preferential dividend right to ICBCL, for an aggregate subscription price of USD 275 million.
The Company plans to redeem the preference shares in full over an estimated term of 12 years. The aggregate redemption and dividend payments on the preference shares are estimated to reflect approximately 25-30% of the estimated free cash flow after debt servicing in the Catcher contract over a similar term.
The net proceeds from the issue of the preference shares will be used for general corporate purposes.
"We are very pleased to secure this equity participation for the BW Catcher FPSO in cooperation with our strategic partner, ICBCL, and in line with our stated ambition to seek new ways of enabling further growth for the company," Carl K. Arnet, the CEO of BWO, said.
The FPSO, a USD 1.2 billion investment, will operate on the Catcher field in the UK North Sea with start-up towards the end of 2017.
Through the cooperation agreement, BW Offshore and ICBC Financial Leasing will jointly pursue international infrastructure projects with a focus on FPSOs.
At the time of the contract signing, the parties said they would establish a long-term strategic partnership and offer cost effective production solutions for the global oil and gas industry.Posted On:15-Nov-2017
Credits: worldmaritimenews.com |
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Denmark Zooms in on Developments in Autonomous Shipping
Denmark Zooms in on Developments in Autonomous Shipping Maritime ProfessionalFull coveragePosted On:15-Nov-2017
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Technology Cooperation for Low-Carbon Shipping
Technology Cooperation for Low-Carbon Shipping MarineLinkFull coveragePosted On:15-Nov-2017
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Asean, EU, US to ensure maritime security in South China Sea
Asean, EU, US to ensure maritime security in South China Sea New Straits Times OnlineFull coveragePosted On:15-Nov-2017
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Brunswick Commercial & Government Products Announces New General Manager
Brunswick Commercial & Government Products Announces New General Manager The Maritime Executive (press release)Full coveragePosted On:15-Nov-2017
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Port of Portland announced new container service
Port of Portland Governor Kate Brown, the Port of Portland, and Business Oregon announced that Swire Shipping will begin container shipping service at the Port of Portland’s Terminal 6. The announcement follows Governor Brown’s recent trade mission trip to Hong Kong, where the Governor and Port representatives met with Swire corporate executives. This new shipping ...Posted On:15-Nov-2017
Credits: www.hellenicshippingnews.com |
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Tanker Market Improved During October
In October, tanker spot freight rates for dirty vessels edged up across all classes trading on most major routes ahead of winter season requirements. VLCC spot freight rates achieved the strongest growth compared with the smaller classes on the back of healthy tonnage demand on the main trading routes. In the dirty segment, VLCC, Suezmax ...Posted On:15-Nov-2017
Credits: www.hellenicshippingnews.com |
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