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.: 26-Nov-2019 :. Search News
Displaying 1 to 14 of Records.
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Navios Acquisition to Add Product Tanker Quintet
Monaco-based ship owner and operator Navios Maritime Acquisition Corporation has inked an agreement to acquire five product tankers in liquidation of Navios Europe I.
The ships in question are MR1 tankers Perseus N, Star N, Hector N and LR1 tankers Aurora N and Lumen N.
On November 22, 2019, an agreement was reached to liquidate Navios Europe I, a company formed a few years ago to manage portfolios of vessels owned by HSH Nordbank.
As of September 30, 2019, Navios Acquisition had a receivable of USD 32.3 million from Navios Europe I. This receivable along with debt financing will be used to finance the acquisition, the company said.
The agreement is subject to definitive documentation which is expected to be completed by the end of 2019, according to Navios Acquisition.
Navios Acquisition s operating fleet currently comprises 38 vessels. In addition, the company is expected to take delivery of three VLCCs in 2020 and 2021.

Posted On:26-Nov-2019



JAXPORT, SSA Marine Break Ground on New Container Terminal
U.S. Department of Transportation Maritime Administrator Rear Adm. Mark Buzby and officials and leadership from Jacksonville Port Authority (JAXPORT) and terminal operator SSA Marine broke ground on a new container terminal at JAXPORT s Blount Island Marine Terminal on November 22.
The SSA Jacksonville Container Terminal is an expansion of SSA s current leasehold at Blount Island and includes USD 238.7 million upgrades in infrastructure and equipment. The facility will offer deepwater berthing space to accommodate larger containerships calling JAXPORT from Asia more fully loaded.
The groundbreaking follows the agreement signed between JAXPORT and SSA Marine in March this year. The agreement for the development and operation of the terminal is for 25 years with two five-year renewal options.
Operations will continue throughout the redevelopment, which is expected to be completed in 2023 - coinciding with the completion of the federal project to deepen the Jacksonville shipping channel to 47 feet.
Phased yard improvements are underway at the terminal that will allow the facility to accommodate up to 700,000 TEUs annually. Berth upgrades are expected to be completed in 2021 and will allow the terminal to simultaneously work two Post-Panamax vessels. The Jacksonville Harbor Deepening Project includes the construction of a vessel turning basin that will allow larger vessels calling on the terminal to turn at Blount Island.
The SSA Jacksonville Container Terminal offers 80 acres of terminal operating space, with the option to grow up to 120 acres as space becomes available. The facility features three post-Panamax electric container cranes and terminal plans include the addition of three more container cranes.
During the groundbreaking, Admiral Buzby formally presented JAXPORT with a previously awarded USD 20 million grant from the U.S. Department of Transportation. The grant will fund terminal enhancements that will allow the facility to accommodate more containers on an expanded footprint.

Posted On:26-Nov-2019



Global Ship Lease to Buy Two Post-Panamaxes on Long-Term Charters
London-based containership charter owner Global Ship Lease (GSL) has agreed to acquire two 2004-built Post-Panamax containerships from Black Pearl Containers.
As informed, the ship pair will be bought for USD 24.5 million and with charters in place to an unnamed liner operator for minimum 52 months / maximum 60 months.
The 6,080 TEU vessels, which have bows optimized for fuel efficiency at lower operating speeds, are scheduled for delivery by the end of this year.
According to GSL, the boxships are expected to generate aggregate Adjusted EBITDA of approximately USD 21 million over the term of the contracted charters, assuming the median expiry dates.
GSL further said that the two containerships are being acquired from Black Pearl Containers, a company controlled by the former shareholders of Poseidon Containers, with which the company merged in November 2018, and pursuant to the company s Right of First Refusal on all such containership purchase opportunities and divestments. The company has agreed debt finance in connection with the acquisition of these ships.
"These ships are the last remaining containerships owned by the former shareholders of Poseidon Containers and were originally acquired in a transaction with a German bank seeking to maximize its recovery of a pre-existing non-performing loan," George Youroukos, Executive Chairman of Global Ship Lease, commented.
"With these acquisitions, we have now made seven highly attractive additions to our fleet since we merged with Poseidon Containers in November 2018, growing our fleet capacity by almost 25% and building on our base of multi-year charters for our high-specification vessels with best-in-class slot costs," Youroukos added.
"We are delighted with the acquisition of these well-specified, in-demand Post-Panamax containerships, at a below-market price… The economics are consistent with the three ships we acquired earlier this year, also against term charters to a first-class counterparty and we are, once again, limiting our downside while maintaining upside potential and supporting our ongoing refinancing program," Ian Webber, Chief Executive Officer of Global Ship Lease, said.
With the newest additions, Global Ship Lease s fleet will comprise 45 vessels with a total capacity of 249,622 TEU.

Posted On:26-Nov-2019



Flex LNG Inks Long-Term Charter Deal for Vessel Newbuild
A subsidiary of Bermuda-based LNG carrier owner Flex LNG has entered into a long-term charter contract with Clearlake Shipping, part of Gunvor Group, for an LNG carrier newbuilding.
As informed, the period under the time charter is up to ten years where the first five years are firm.
The charter will commence following the delivery of the ship scheduled for August 2020. It will have elements of variable rate of hire across the charter period, Flex LNG said.
The 173,400 cbm vessel to be employed under this time charter will be the hull 2479, which is being built at South Korean Daewoo Shipbuilding & Marine Engineering (DSME). Fitted with a high-pressure two-stroke slow-speed propulsion system (ME-GI), the vessel is also equipped with a full reliquifaction system (FRS) enabling a high level of operational flexibility given the low boil-off rate of 0.035% per day.
The 96,000 dwt vessel will be named as Flex Artemis and will fly the flag of the Marshall Islands.
"We are very pleased to enter into this long-term charter with … Gunvor which has been the most active LNGC spot trader in the burgeoning LNG trade. We are confident that our vessel will be very suitable for their trade given the very high technical specification of this vessel. This charter is also in line with our strategy of delivering incremental higher level of backlog as we are growing our fleet of vessels on the water," Oystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS, commented.
Flex LNG currently has six vessels on the water and an additional seven newbuildings under construction, which are planned for delivery between the second quarter of 2020 and the second quarter of 2021.

Posted On:26-Nov-2019



Navios Partners to Expand Fleet with Five Containerships, Six Bulkers
Owner and operator of dry cargo vessels Navios Maritime Partners has signed agreements to acquire eleven vessels.
On November 22, 2019, an agreement was reached to liquidate Navios Europe I. The agreement is subject to definitive documentation which is expected to be completed by the end of 2019.
As of September 30, 2019, Navios Partners had a receivable of USD 48.2 million from Navios Europe I.
As a result, Navios Partners will acquire five containerships owned by Navios Europe I. Built between 2006 and 2008, the ships in question are the 2,007 TEU Esperanza N, the 2,741 TEU Protostar N, the 2,824 TEU Harmony N, the 3,091 TEU Castor N and the 3,398 TEU Solar N.
What is more, Navios Partners entered into a share purchase agreement for the acquisition of four dry bulk vessels from an entity affiliated with its Chairman and CEO for USD 37 million. The vessels are expected to be delivered to Navios Partners owned fleet by December 2019. Two of the bulkers were built at China’s Hudong Zhonghua Shipbuilding in 2005 and 2009, one ship at Tsuneishi Group in 2009 and one at Japanese Sanoyas Hishino Meisho Corp. in 2004.
The vessels are financed with a USD 37 million loan from a financial institution. The loan facility has no capital repayment until September 2020 and may be prepaid at any time without penalty, according to the company.
In addition, Navios Partners agreed to bareboat charter-in two newbuilding Kamsarmax vessels, one subject to completion of documentation. Each vessel has approximately 81,000 dwt and is being bareboat chartered-in for ten years. The vessels are expected to be delivered in each of the second and the third quarter of 2021.
Navios Partners has the option to acquire the vessels after the end of the fourth year for the remaining period of the bareboat charter, the company explained.

Posted On:26-Nov-2019



RightShip Launches Compliance Assessment Ahead of IMO 2020
Maritime risk management organization RightShip has asked operators of vessels of over 8,000 dwt to confirm their compliant fuel choices and ship implementation plans in a new compliance assessment.
As explained, the move comes in an effort to support improved industry management of risk and safety ahead of the implementation of the International Maritime Organization s (IMO) 2020 sulphur cap.

Posted On:26-Nov-2019



Norwegian Cruise Line s Newest Ship Christened in Miami
Cruise line Norwegian Cruise Line hosted a christening ceremony for its newest ship, Norwegian Encore, in Miami on November 21.
The newbuild was christened by Grammy Award-winning artist, Kelly Clarkson, with the champagne bottle break across the ship s hull.
This milestone marks the closing of the company s Breakaway Plus class of ships which first debuted in Miami with the introduction of Norwegian Escape in 2015.

Posted On:26-Nov-2019



India Approves Sale of Shipping Corporation of India
India s government has approved the sale of a majority stake in the Shipping Corporation of India (SCI).
Specifically, the government would divest its shareholding of 63.75 percent in the Mumbai-based shipping company.
The government will also transfer management control to a strategic buyer, according to the country s Ministry of Finance.

Posted On:26-Nov-2019



British Ports Association Publishes General Election 2019 Priorities
The British Ports Association has today published it s six key policy priorities for the 2019 UK General Election, focussing on a swift and satisfactory resolution to Brexit, safety, planning, connectivity, making the most of UK maritime, and fisheries.
The new document includes a number of key requests of government, including implementation of the industry s planning proposals, a new Maritime Bill, a freight strategy, and coastal shipping.

Posted On:26-Nov-2019



Credits: www.bunkerportsnews.com

SGP trains next-gen Saudi port managers
The Saudi Global Ports (SGP) recently held a seven-day workshop for its staff and representatives from Saudi Port Authority (MAWANI).
The session was hosted in Singapore by PSA International s training center in October.
Since its incorporation in 2015, SGP has been co-sponsoring annual workshops for SGP officials and MAWANI representatives.

Posted On:26-Nov-2019



Credits: www.bunkerportsnews.com

Kalmar to collaborate with Bosch Rexroth to develop fully electric versions of its reachstacker and heavy forklift solutions
Kalmar, part of Cargotec, is pleased to announce that it will collaborate with Bosch Rexroth to develop fully electric versions of its reachstacker and heavy forklift solutions. This collaboration represents another significant milestone on Kalmar s journey to offer electrically powered options for its entire equipment portfolio by 2021.
Bosch Rexroth, a world-leading supplier of drive and control technologies, is expanding its portfolio to develop solutions for the next generation of mobile equipment.

Posted On:26-Nov-2019



Credits: www.bunkerportsnews.com

Port of Gdansk welcomes Euro-China Train for inaugural visit
The Port of Gdansk in Poland has staged a welcome ceremony for the inaugural visit of the first Euro-China Train (ECT), as China s modern-day silk road, the Belt and Road Initiative, reaches the Baltic.
The new ECT connection, known as the Baltic Train , is the result of cooperation between the Port of Gdansk Authority, DCT Gdansk container terminal and Adampol, which is the operator and administrator of the route.

Posted On:26-Nov-2019



Credits: www.bunkerportsnews.com

CMR Completes E-Pulse Engine Control And Automation System Delivery For Dover Harbour Board Tug
Marine and energy automation specialist, CMR Group, has successfully completed the delivery of an advanced alarm monitoring and engine control system onboard of DHB Doughty tug.
The tug, built in 2000, is part of the fleet of Dover Harbour Board, which administers and maintains the Port of Dover UK.

Posted On:26-Nov-2019



Credits: www.bunkerportsnews.com

Steel piles from SSAB help Port of Gdansk to jump up on the podium
A new combi wall at the Port of Gdansk, Poland, begun in February 2019, will result in a new wharf by 2020 that will be 1,220 meters (4,000 feet) long. The most important part of the wharf, the steel piles, came from SSAB.­
"We chose steel piles from SSAB for one main reason: their quality," says Tomasz Rybarczyk, group sites manager with Keller Polska Sp. z o.o., the subcontractor responsible for soil improvement and building the combi wall.

Posted On:26-Nov-2019



Credits: www.bunkerportsnews.com
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