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.: 20-Jul-2015 :. Search News
Displaying 1 to 12 of Records.
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Epic Gas Secures Financing for 7 LPG Newbuildings
Owner and operator of pressurized gas carriers Epic Gas Ltd. has closed USD 50 million private placement and syndication of USD 120 million credit facility.

The company said that it would use the net proceeds from the transaction to partly finance the construction of 7 pressurized LPG carriers under construction at shipbuilding yards in Japan.

The company’s outstanding new building program consists of three 7,500 cbm vessels and four 11,000 cbm vessels, plus an additional 11,000cbm new building to be delivered under a bareboat charter to Epic Gas.

The 22.2 million primary shares issued in the USD 50 million private placement are registered with the Norwegian Securities Depository. Following the transaction, the company has 51.9 million shares outstanding.

Epic Gas has mandated ABN AMRO Bank N.V. to serve as lead arranger and coordinator for up to USD 120 million in post-delivery senior secured financing for the 7 vessels under construction.

Posted On:20-Jul-2015



Chandris Orders One More LNG Carrier at DSME
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won a repeat order for construction of a liquefied natural gas (LNG) carrier from Greek ship owner Chandris (Hellas).

The order relates to one 173,400 cbm LNG carrier, offered in the form of option in a contract signed in December last year when Chandris ordered a firm LNG newbuilding of 174,000 cbm.

Chandris has teamed up with Japanese counterpart K Line, which will be in charge of the management of the LNG carriers.

The LNG duo will feature M-type electronically-controlled gas-injection (ME-GI) propulsion systems and are scheduled for delivery in the second half of 2018.

DSME said that it has won a total of 29 orders for construction of LNG carriers featuring ME-GI.

South Korean shipbuilder confirmed last week to be in discussions with its creditors on potential moves that would improve the company’s financial status as the company pursues restructuring plans.

The shipbuilder said in a filing with Korea Stock Exchange that it was considering various measures with creditors, but it did not disclose any further details on potential arrangements that might be involved in the process.

The announcement comes on the back of DSME’s share plunge on Wednesday, following a media report that the company had amassed around KRW 2 trillion (USD 1.8 billion) of losses that have not yet been booked.

Posted On:20-Jul-2015



Credits: worldmaritimenews.com

Plenty of activity at Mission to Seafarers - Gladstone Observer
This story was submitted by Mission to Seafarers chaplain Russell Cunningham. If you have a story you d like to share, click here.

DURING the Sea Sunday Service the Anglican Bishop of Rockhampton, Bishop David Robinson, presided over the commissioning service in the Mission Chapel to formally recognise me as the Mission to Seafarers chaplain to the Port of Gladstone.

We also hosted the inaugural meeting of the Gladstone Port Welfare Committee, with UK deputy chief executive of Merchant Navy Welfare Board Peter Tomlin speaking at this world first International Seafarers Welfare and Assistance Network initiative.

We are negotiating with the Work for the Dole program to begin a revitalisation of the Mission, starting with extensive garden and grounds beautification works beginning at the end of the month.

Our dedicated team of volunteers enables us to open the Mission seven days and nights a week, and without their help none of the seafarers would be able to get a break from what is essentially a steel prison.

Three months ago I was at the Newcastle Mission to Seafarers, and now I am starting to feel like I have always been part of the team in Gladstone.

Last week, Captain Eduardo Almaquer of the MV Pos Esperance, a ship berthed at one of Rio Tinto s wharves, presented me with a fully functional exact scale model of his ship.

He constructed it out of biscuit boxes and scrap plastic during his journey from Indonesia to Gladstone as a gratitude for picking them up, allowing them to get a reprieve to buy some necessary supplies and to enjoy unfamiliar faces.

Posted On:20-Jul-2015



Credits: www.gladstoneobserver.com.au

Maritime Museum hosting maritime archaeologist
The Wisconsin Maritime Museum will host a maritime archaeologist meet-n-greet from 6:30 to 8 p.m., July 30.

Wisconsin Historical Society maritime archaeologists Tamara Thomsen and Caitlin Zant, along with local volunteer divers, will share information about their current survey of the shipwreck S.C. Baldwin in Lake Michigan just off the coast of Point Beach State Forest. The ship, which sank in 1908, lies at a depth of 60 feet on the sandy lake bottom.

The divers will share real-time data, photos and stories as participants freely move through stations that include dive gear, archaeological tools and equipment, historic images of the vessel and photos of the wreck as it looks today.

Participants will be able to ask questions and talk one-on-one with the dive team. The exhibit “Treasures of NOAA’s Ark and Wisconsin’s Underwater Treasures” will also be open for public viewing during the event. Light snacks and beverages will also be available.

Posted On:20-Jul-2015



Credits: www.htrnews.com

Delfin LNG submits application for first liquefied natural gas export deepwater port
Delfin LNG LLC (Delfin) has submitted an application to the Maritime Administration (MARAD) and the United States Coast Guard (USCG) to construct, own, and operate the Delfin LNG Project (Port Delfin) under the Deepwater Port Act (DWPA). The proposed Project would be located approximately 50 miles off the coast of Cameron Parish, Louisiana in the Gulf of Mexico and would liquefy natural gas for export to free trade agreement (FTA) and non-FTA nations under authorizations from the U.S. Department of Energy. Port Delfin would be the first US floating liquefaction project and the first liquefied natural gas (LNG) export deepwater port project in the US.

On July 16, 2015, MARAD and USCG, as the lead agencies under the DWPA and the National Environmental Policy Act (NEPA), published the Notice of Application indicating that Delfin’s application contained all of the required information. The DWPA imposes a strict timeline for processing an application. From the date of publication of this Notice, the DWPA establishes a specific time frame of 330 days for approval or denial of the deepwater port license. During this time period, MARAD and USCG, in collaboration with other agencies, ensure that an Environmental Impact Statement (EIS) is developed and that public hearings in the adjacent states are held. If MARAD and USCG determine that additional information is necessary during this process, they may suspend review at their discretion. Further information about the deepwater port licensing process is available on MARAD and USCG’s websites.

The Delfin Project has both offshore and onshore components. The Project proposes to re-use existing, underutilized pipeline infrastructure in the Gulf of Mexico to transport natural gas offshore to four moored floating liquefied natural gas vessels (FLNGVs). The FLNGVs will use air cooling technology to liquefy natural gas, significantly reducing impacts on marine resources. The Project also proposes to construct an onshore compressor station to move natural gas through the pipeline to the FLNGVs, and Delfin has submitted an application with the Federal Energy Regulatory Commission (FERC) for the onshore components of the Project.

Posted On:20-Jul-2015



Credits: www.bunkerportsnews.com

State going ahead with Bhavanapadu port plan
Developments with regard to Bhavanapadu Port in Srikakulam and talks for diluting shares in Gangavaram Port in Visakhapatnam have become topics of heated discussion in various circles.

The outright rejection of the Ministry of Shipping’s proposal to develop Bhavanapadu as a joint venture with the Visakhapatnam Port Trust has baffled many. Bhavanapadu is the first port proposed to be built under PPP mode by the State government post-bifurcation.

Infrastructure Corporation of AP is now in the process of calling for Request for Qualification after short-listing 12 firms who responded to Expression of Interest notification. Highly placed sources told The Hindu that the Ministry of Shipping wrote a letter to the State to explore a joint venture between the AP government and the VPT going by the rich experience of 80-year-old Visakhapatnam Port.

However, the State due to reasons best known to it ignored the recommendation and called for EoI in March. The short-listed firms include Vedanta, Adani, Krishnapatnam and Gangavaram Ports. A consortium comprising Sravan Group, Vizag Profiles and RKEC Project Private Ltd are also in the race.

Posted On:20-Jul-2015



Credits: www.bunkerportsnews.com

Evergreen Maritime Wins contract to supply pneumatic rubber fenders to Kenya Mombasa Port
As the leading manufacturer of floating pneumatic and foam fenders, ship launching marine airbags, Evergreen Maritime provides one-stop service for global clients since 2002 includes products design and supply, engineering service etc.

Recently, Evergreen Maritime was awarded another million dollars contract, to design, supply and install 12 super pneumatic fenders for Mombasa Port, Kenya.

Mombasa Port, the largest port in Kenya, one of the busiest ports in East Africa, between 2002 and 2006 has seen an increase of about 4 million tons in total cargo throughout, a 40% growth in the five years. In order to improve the cargo handling capacity of Mombasa Port, the Kenya Ports Authority invested construction of Second Container Terminal. The first phase includes construction of berth Nos. 20 and 21 with total quay length of 540 metres and a stacking yard of 50 ha, expected to be commissioned in March 2016.

“Invited by KPA, Evergreen Maritime participate in the bid of pneumatic rubber fenders design and supply for new berths of Mombasa Port. As a manufacturer, Evergreen could guarantee inspection and quality control at each stage of the process through thorough testing on both the rubber and the filament reinforcing. A superior technical offering, 100 percent compliance to the specification and the ability to perform and verify extensive material and cyclic testing meant Evergreen were the supplier of choice. Evergreen Maritime won the order after several rounds of bidding,” said by Peng Sui, the manager of Evergreen production.

He added, “In addition to appointed classification society testing, those fenders will be required to undergo full scale performance testing, in which they will be compressed to 60% of their diameter to ensure the required energy absorption characteristics are met. Also there is a requirement for full scale cyclic testing to verify fatigue, durability and recovery characteristics of pneumatic fenders.

Posted On:20-Jul-2015



Credits: www.bunkerportsnews.com

Iran says offers India bigger role in strategic port
Iranian President Hassan Rowhani has asked India to invest in infrastructure projects worth $8 billion, including an expanded role in developing a strategic port that will open up access to Central Asia, Iran s envoy to New Delhi said.

The port of Chabahar in southeast Iran is central to India s efforts to circumvent arch-rival Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests.

Rowhani suggested the larger role for India during a meeting with Prime Minister Narendra Modi on the sidelines of a summit in Russia days before the historic nuclear deal between Iran and world powers, Iran s ambassador to India told Reuters.

"The potential between Iran and India is great but we were just facing such a wall of sanctions, wall of American pressure," ambassador Gholamreza Ansari said.

Ansari said that with sanctions likely to be lifted soon, it was a "golden time" for India to seize investment opportunities because of the two countries close trade ties and shared interest in improving Central Asian transport links.

"Connectivity is the main policy of Modi that coincides with Iran s government policy," Ansari said. "We have offered them, in connectivy, $8 billion of projects."

Modi s meeting with Rouhani was part of a tour of Central Asia focused on increasing India s role in the region. It was not immediately clear how Modi responded to Rouhani s offer.

India s foreign ministry did not respond to a request for comment.

Iran and six world powers reached a nuclear deal on Tuesday, clearing the way for an easing of sanctions on Tehran.

Posted On:20-Jul-2015



Credits: www.bunkerportsnews.com

Lagos Unveils Africa s Biggest Deep Sea Port in Badagry
The Lagos State Government Thursday disclosed that it would commence the construction of the biggest deep sea port in Africa, which it said, would be situated on over 1,000 hectares of land in Badagry with the capacity to create thousands of employment opportunities.

The state government also disclosed that a good number of foreign and domestic investors including Maersk Group “have already signed on to the project,” thereby suggesting that the state would have largest cargo container port in Africa.

The state governor, Mr. Akinwunmi Ambode, disclosed the plan during a visit to the site of the project in Badagry alongside some top state officials, promising that the port project would have begin in the next two months.

After inspecting the project site, the governor said the proposed site for the biggest deep sea port in Africa “is over 1,000 hectares of which we have just been told that there is going to be a free trade zone and a container terminal.”

He added that the investors “have done the best they can. We have Maersk Group in the bouquet of foreign investors that have signed on to this project. We are going to have the largest cargo container port in Africa situated in Badagry.

“That means a lot to us in terms of employment generation. It means a lot to us also in terms of new settlement. Like it has been said, we hope that in the next two months we are coming back here to kick-start this project,” the governor explained.

Posted On:20-Jul-2015



Credits: www.bunkerportsnews.com

Extend cabotage relaxation validity for Vallarpadam terminal
An industry body in Kerala today urged the central government to extend the validity of cabotage relaxation for Vallarpadam container terminal.

Supporting the view aired by D P World, the Dubai-based international port operator which runs Vallarpadam container terminal, the Cochin Chamber of Commerce and Industry (CCCI) said an international trans-shipment terminal needs to be given more breathing time to attain its full capacity.

"In the current situation, the CCCI requests the central government to consider extending the cabotage relaxation for a few more years.

"With the prospect of the Vizhinjam Port coming up in the next couple of years, it is imperative that the International Container Trans-shipment Terminal (ICTT) is given every opportunity to improve its fortunes to attain their targets," the Chamber said.

Noting that 70 per cent of the total trans-shipment cargo from India is now being handled by Colombo, the chamber said efforts are required to promote trans-shipment of Indian cargo from ICTT, Vallarpadam and reduce dependence on nearby foreign ports.

Although there has been a year-on-year increase in the total number of containers (3,55,377 TEUs in 2014-15) handled at Vallarpadam terminal, this is nowhere near the projected targets, it said.

Urging the Centre to absorb the cost of maintenance dredging at Cochin Port as is the practice at some other Ports, the Chamber said this would make the port more competitive, especially when nearby ports are doing comparatively better.

Posted On:20-Jul-2015



Credits: www.bunkerportsnews.com

Fitch Upgrades Namport s Outlook to Stable
Fitch Ratings recently upgraded Namibian Ports Authority s (NamPort) National Long-Term rating to AA-(zaf) from A+(zaf) and National Short-Term rating to F1+(zaf) from F1(zaf) , thus resulting in its outlook being stable.

Key assumptions made by Fitch included growth in revenue, stable demand for export commodities, an expansion project that is expected to be completed on time and a drawdown of N$2.9 billion from the African Development Bank amongst others. NamPort s ratings are aligned with Namibia s sovereign ratings, reflecting Fitch s view on the company s links with the government, including implicit and explicit support that remains strong, given NamPort s strategic importance to the Namibian economy.

NamPorts received a state guarantee for a loan facility from the European Investment Bank (AAA/Stable) in 2002. The Namibian government unconditionally guaranteed the payment obligations of NamPort under the African Development Bank (AfDB, AAA/Stable) loan agreement for N$ 2,9 million, which is the debt-funded portion of its Walvis Bay port expansion. said Fitch, "the Namibian government has also taken over the expansion of the oil tanker jetty project, which is no longer included in the capital expenditure for NamPorts.

On completion of the project these assets will be transferred for management to NamPort (without any liabilities)." The expansion project will include the construction of a new container terminal incorporating an additional 40 hectares of land with a quay length of 600m. The new container terminal will accommodate a capacity of 750,000 twenty-foot equivalent units (TEUs) per year, complementing the existing 350,000 TEUs per year. Upon completion, which is expected by 2017, the new container terminal will realise a deep water depth of 16 metres.

Posted On:20-Jul-2015



Credits: www.bunkerportsnews.com

There can never be one port too many
Media reports suggest that the Kerala government will enter into an agreement with a special purpose vehicle to be promoted by Adani Ports for building a modern container transshipment port in Vizhinjam near Thiruvananthapuram.

It is for the first time in India that the central and State governments are teaming up with a private investor under a public/private partnership deal. In the ₹7524-crore project, ₹1,635 crore are to be made available in the form of viability gap funding to be shared equally by the Centre and the State government.

The State will also spend ₹1,973 crore on land acquisition, breakwater construction, supply of drinking water, rail and road connectivity and electricity supply as essential infrastructure support. The project is expected to be completed within four years with a capacity to handle ultra large container ships.

A transshipment port is where transfer of cargo takes place from one ship to another. In major transshipment ports, transshipment volumes account for 90 per cent and above of their total container traffic.

A gateway port is one which depends largely on its export/import cargo base originating from or destined to its primary/secondary or territory hinterland. Major gateway ports in the world are Rotterdam in the Netherlands, Antwerp in Belgium, Hamburg in Germany, New York in the US, JN Port in Mumbai, etc.

Gateway ports are generally considered to be more secure and stable as they rely on the cargo support from the industrial, agricultural and commercial activities that take place in the natural hinterland, whereas transshipment ports are generally considered to be insecure and unstable mainly because they rely on the cargo volumes from ports of other countries.

Posted On:20-Jul-2015



Credits: www.bunkerportsnews.com
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