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.: 19-Mar-2019 :. Search News
Displaying 1 to 16 of Records.
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Boat capsizes off Mumbai coast, six people rescued, one missing
One person is missing and six others rescued after a tug boat capsized Monday morning in the Arabian Sea off the Worli coast in Mumbai, police said.
The tug boat "Revati" was carrying seven persons and a Coast Guard helicopter and an inshore patrol vessel, and personnel from the Mumbai police's coastal unit were deployed for the rescue effort, he informed.
Revati was on its way to Tarapur from Mumbai with a crew of seven when it capsized in the morning, a Coast Guard spokesperson said.
A distress call was received from the vessel after which Coast Guard Ship Amartya, a fast patrol vessel on surveillance duty, was diverted for the search and rescue operation, he said.
ICGS Amartya reached the spot and rescued six occupants from the sinking tug, he said.
The search and rescue operation for the seventh occupant of the boat is still underway and two ships and a Chetak helicopter have been deployed, he added.
Apart from a surface search by the two ships, two helicopter sorties have been launched as part of a coordinated sea-air search and rescue operation for the seventh person, he said.
The rescued tug occupants have been given medical aid and their condition is stable, he said.

Posted On:19-Mar-2019



Global Ship Lease Inks Three-Year Charter with Hapag-Lloyd
Containership charter owner Global Ship Lease has agreed a three-year charter with Hapag-Lloyd for a 2015-built, high-specification boxship.
The new contract for the 9,115 TEU containership UASC Al Khor is in direct continuation of the current charter and is expected to commence in June, 2019. Re-delivery is set for the second quarter of 2022.
GSL said that the charter is expected to generate around USD 28 million of Adjusted EBITDA.
"The fixture is consistent with our strategy of locking in contracted cashflow for longer periods when rates have risen to attractive levels, whilst retaining some exposure to the short-term charter market, allowing us to enter into new charters in an improving market," Ian Webber, Chief Executive Officer of Global Ship Lease, said.
"This charter extension further improves our long-term cashflow visibility and is indicative of our expanded relationship with charterers."
The 111,000 dwt eco, wide-beam containership was acquired through GSL’s recent merger with Poseidon Containers, which created a combined fleet of 38 ships.

Posted On:19-Mar-2019



Port of Newcastle Welcomes Its Largest Fuel Tanker
Australia s Port of Newcastle hosted the largest fuel tanker in its 220 years of commercial operations on March 18.
The 244-metre LR2 tanker, Pro Alliance, berthed at Stolthaven s bulk liquids terminal Mayfield 7, marking the culmination of a significant investment in Newcastle. The milestone follows the arrival of the port s first LR1 tanker in early January.
Receiving vessels of this size was made possible following a four-year collaborative project between Stolthaven, Port of Newcastle, Port Authority of NSW and Svitzer to expand channel capacity and accommodate deep-draft inbound tankers up to 245 metres LOA.
The project partners committed to increasing the port’s capacity through a number of activities, including detailed channel simulation investigations, adding active escort tug capability to the port s fleet and the development of a dynamic under-keel clearance system (DUKC) for deep draft inbound ships to complement the existing outbound DUKC system.
"In our 220th year of commercial shipping, milestones such as this signify the evolving role of the port in facilitating global trade through our harbour and driving growth in the regional, state and national economies," Keith Wilks, Port of Newcastle Executive Manager Marine and Operations, said.

Posted On:19-Mar-2019



Panama Canal Joins GIA for Low Carbon Shipping
The Panama Canal has joined the Global Industry Alliance (GIA) in an effort to support low carbon shipping.
The signing ceremony inducting the waterway into the GIA took place at the Panama Maritime World Conference and Exhibition. The move was made after the Panama Canal signed a letter of agreement on March 15 officially joining this group of industry players.
"Today s announcement marks a proud milestone for the Panama Canal and its long legacy as the Green Route of world maritime trade," Jorge L. Quijano, Panama Canal Administrator, said.
"Given our roots in sustainability and innovation, this partnership reaffirms the canal s commitment to leading our industry to a cleaner and more efficient future."
Launched in June 2017, the GIA is a partnership of 18 maritime organizations working together to share their expertise and provide technical input towards the implementation of concrete activities that can support the shipping industry s transition to a low carbon future.
The GIA members aim to do so by identifying and developing innovative solutions that address common barriers to the uptake and implementation of energy efficient technologies and operational measures. The Panama Canal will become the first Latin American organization to join the GIA.

Posted On:19-Mar-2019



BW Group Launches Takeover Offer for Epic Gas
Singapore-based BW Group has purchased a majority stake in Epic Gas and launched an unconditional tender offer to acquire the remaining shares of the owner and operator of pressurized gas carriers.
According to Epic Gas, BW Group would acquire a minimum of 51% of its outstanding shares, including the purchase of all of the shares held by certain affiliates of Jefferies Financial Group and DVB SIIM. The company said it acquired 38.54 million shares in Epic Gas from the key shareholders representing 54.7% of the issued shares.
The subsequent unconditional tender offer was launched for a per share consideration equal to the sum of USD 1.60, plus an additional consideration equal to USD 3,500,000 divided by the total number of shares acquired, provided that the additional consideration will not be higher than USD 0.10 per share. The shareholders of Epic Gas have the period from March 19 to April 23 to accept the offer.
Subject to the final level of acceptances after the expiry of the offer period, BW Group intends for Epic Gas to maintain its listing on Merkur Market.
"The transaction represents an opportunity to acquire a well-managed company, led by Charles Maltby, and we look forward to working together to achieve successful growth in the service of our customers," Andreas Sohmen-Pao, Chairman of BW Group, said.
Epic Gas, the largest commercial operator and second largest owner of small pressurized LPG carriers, has a fleet of 39 vessels ranging from 3,500 to 11,000 cbm that typically serves the short-haul or regional LPG and chemicals trade.
The company added that it has entered into a letter of intent to purchase modern second-hand LPG carriers. Epic Gas anticipates financing the acquisition with a combination of equity and debt. Should the transaction proceed, it may involve a share capital increase in Epic Gas that is currently estimated to be in the range between USD 50-60 million.

Posted On:19-Mar-2019



USCG Enforces North Korea Sanctions in East China Sea
A U.S. Coast Guard cutter has been sent to Sasebo, Japan to enforce North Korea sanctions in the East China Sea.
The USCG cutter Bertholf arrived to Sasebo on March 3 following a deployment in the East China Sea where the crew assisted in United Nations Security Council Resolutions (UNSCR) enforcement against illicit ship-to-ship transfers that violate North Korea sanctions.
The move is a part of the United States ongoing contribution to international efforts in combating North Korea’s maritime sanctions evasion activity. Ship-to-ship transfers of fuel and goods, like coal, going to and from North Korea are prohibited under UNSCRs.
In April 2018, the United Nations Security Council blacklisted 27 ships as part of its clamp down on North Korea over its nuclear program. The sanctions included one individual and 22 companies involved in trading of coal, refined petroleum and oil with North Korean counterparts, which had been declared illegal.
Only two months earlier, in February 2018, the U.S. imposed sanctions on 28 ships, as well as 27 entities and one individual.
"Our actions are part of the ongoing maximum economic pressure campaign to cut off sources of revenue that this regime derives from U.N. and U.S. prohibitive trade to fund its nuclear and ballistic missile programs," Steven Mnuchin, U.S. Treasury Secretary, earlier said.

Posted On:19-Mar-2019



VesselsValue launches Position List
VesselsValue (VV) has launched its latest automated service: Position List.
What is it?
VV's automated Position List allows users to see which vessels are available to pick up cargo at any global location with the click of a button.
The service complements the traditional position list through providing an alternative and instant, objective and data driven view of candidate vessels, competition and availability, all with with deep supporting data.
It also helps users understand localised vessel supply to help in negotiation, rate prediction and related decision making.
How does it work?
In typical VV style, users are able to fully design their own position list, picking criteria including ship specs, location, arrival dates, speeds and use of transit zone.
Location can be any port, region or country in the world, as well as any possible location though selecting it on an interactive map.
Compared with traditional methods, VV generates an automated position list based on AIS vessel positions, GIS location information, vessel specifications and four key processes:
• Open Logic: Whether the vessel will be 'open' to receive cargo at user defined locations. Laden vessels or those at shipyards can also be open if they are able to make it to the load location in ballast within the laycan.
• Destination Logic: Captain's reports can be unhelpful or misleading, therefore Destination Logic has been built (and is now at v3) to predict the vessel's next move. Current and historical AIS data, derived AIS trading history and geographic restrictions make a meaningful prediction of where the vessel is heading.
• Exclusion Logic: Vessels being on COA, used for storage, in layup, or subject to transit zone restrictions are, amongst others, reasons to exclude a particular vessel.
• Fixtures Logic: Past, current and future reported fixtures are checked through multiple processes to eliminate rumours and misreporting.

"We are continuing to revolutionise the maritime industry, from algorithm driven valuations to real-time vessel trade analysis," says Adrian Economakis, COO and Head of Trade and Position List products at VV. "Now the automated Position List based on big data and cutting edge technology will provide much needed real time and objective intelligence to the chartering and trading markets."
Speaking about automation of jobs within the shipping industry, Adrian states: "Our technology helps our clients work more efficiently and effectively by automating laborious and time consuming tasks. This allows our users to concentrate on making good decisions rather than spending time collating and interrogating data."
Economakis has set his sights slightly further than other data providers. "We currently provide this service for VLCC, Suezmax/LR3, and Aframax/LR2, with the other Tanker, Bulker and Gas types to be provided to our clients shortly."

Posted On:19-Mar-2019



Largest tanker arrival the culmination of significant investment in Newcastle
The largest fuel tanker to enter Port of Newcastle in 220 years of commercial operations arrived this morning.
The 244-metre Pro Alliance long range 2 (LR2) class tanker berthed at 1100 hrs at Stolthaven s Mayfield 7 dedicated bulk liquids terminal, a purpose-built facility catering to vessels of that size.

Posted On:19-Mar-2019



Credits: www.bunkerportsnews.com

Storm as agents jostle for lucrative port terminal job
Behind-the-scenes lobbying by global operators angling for cargo handling business at the Port of Mombasa has intensified following reports that the State is keen to lease it out.
Reports indicate that the State wants to hand over the running of the second container terminal and one berth to the Kenya National Shipping Line (KNSL), which is partly owned by private firms.

Posted On:19-Mar-2019



Credits: www.bunkerportsnews.com

Study of locations for new LNG terminals ordered
As competition among private investors increases, the government has ordered a scientific examination of all feasible locations for new liquefied natural gas (LNG) import and processing terminals, including the possibility of expansion and dredging of the main channel that has been facing acute traffic congestion.

Posted On:19-Mar-2019



Credits: www.bunkerportsnews.com

India watchdog says DP World trying to halt possible adverse probe findings
India s antitrust regulator said in a court filing that a challenge by Dubai s DP World of a probe into its alleged anti-competitive practices at a Mumbai port is an effort to halt or delay possible adverse findings against the firm.
The Competition Commission of India (CCI) told a Mumbai court that DP World s local unit had "prematurely" rushed to court to stall or delay the probe, according to a filing by the watchdog dated Jan. 30 and seen by Reuters.

Posted On:19-Mar-2019



Credits: www.bunkerportsnews.com

IRClass Wins ERS Contract for 33 SCI Ships
Ship classification society Indian Register of Shipping (IRClass) has secured a five-year contract from India s largest shipping company, The Shipping Corporation of India (SCI), to undertake emergency response service (ERS) for 33 vessels.
The contract, effective from the end of February 2019, will cover oil tankers, bulk carriers and containerships.

Posted On:19-Mar-2019



Denmark s NORDEN Expanding to Africa
Danish shipping company NORDEN is expanding operations to Africa where it expects to open an office by the end of the year.
The new location in Abidjan, Ivory Coast, will be the company s eleventh office, joining those already established in the US, Brazil, Australia, China, Singapore and India.

Posted On:19-Mar-2019



Fincantieri Starts Building Viking s Newest Cruise Ship
Italy s Fincantieri held a steel cutting ceremony for the seventh ship under construction for cruise ship owner Viking on March 18 at its shipyard in Ancona.
The new 47,800 gross ton unit, scheduled to be handed over in 2021, will be placed in the small cruise ship segment. As its sister ships, it will feature 465 cabins with accommodation for 930 passengers.

Posted On:19-Mar-2019



Drewry: Sulphur Cap to Trigger Slow Steaming, Transhipment
The shipping industry could see more slow steaming and transhipment being triggered as part of the IMO 2020 sulphur rule, according to shipping consultancy Drewry.
"Shippers rightfully want more transparency regarding how the new fuel surcharge mechanisms will work, but they should be mindful of the potential risks to future service options, competition and rates if they don t concede anything to carriers."

Posted On:19-Mar-2019



FSG Delivers Another RoRo to Siem
Germany s shipbuilder Flensburger-Schiffbau-Gesellschaft (FSG) has delivered an 11,900 dwt roll-on/roll-off (RoRo) vessel to Siem Shipping.
The newbuild, Maria Grazia Onorato, was handed over to its owner in Flensburg on March 14, 2019. The vessel left the shipyard today, heading for the Port of Odense, Denmark.

Posted On:19-Mar-2019
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