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Tuna fishing vessel on fire, 16 crew rescued, Indian ocean
Tuna fishing vessel TENN MING YANG NO.268 issued distress signal at around 0430 UTC May 7, reporting fire on board, 16 crew going to life rafts, and requesting immediate assistance. Vessel was in vicinity 34 54S 041 50E,Indian ocean, some 630 nm E of Durban, South Africa. MRCC Cape Town and MRCC Taiwan were alerted, MRC Cape Town requested all ships in the area to respond and assist. Nearest to distressed longliner ship responded and steamed to rescue, at around 0700 UTC all 16 fishermen were picked up from life raft, in good health.Posted On:8-May-2019
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Global Ship Lease Earnings Rise after Poseidon Merger
Containership charter owner Global Ship Lease has doubled its earnings on the back of its combination with Poseidon in late 2018.
For the three months ended March 31, 2019, the company s operating revenues reached USD 64.5 million, compared to USD 36.1 million reported in the same quarter in 2018, with the increase principally due to the addition of the GSL Valerie in June 2018 and the Poseidon Containers fleet on November 15, 2018,
Reported net income was at USD 10.1 million for the period, up from USD 4.2 million seen a year earlier.
"Having successfully integrated GSL and Poseidon, we are seeing the anticipated wide-ranging benefits of our superior platform which are reflected in every aspect of our business. Our success in securing six longer-term charters in 2019 adds approximately USD 146 million, or 21.4%, to mid-point contracted net revenue, improving forward charter cover and cashflow visibility," Ian Webber, Chief Executive Officer of Global Ship Lease, said.
"Altogether, we are ensuring that GSL is in a position to fully benefit from opportunities arising out of the ongoing market recovery"
Amid consistently strong demand for our high-specification containerships, which are focused in vessel classes experiencing net supply contraction, we have made substantial progress in extending our forward contract coverage and locking in contracted cashflow at a time when charter rates have shown significant improvement.
The company said that a recent surge of demand for high reefer capacity Post-Panamax vessels has enabled GSL to secure profitable, multi-year charters for some of the older vessels in its fleet.
"Moving forward, we remain confident in the supportive long-term fundamentals for mid-sized and smaller containerships, and we will continue to take action to fully unlock the value of GSL s leading commercial capabilities, strong balance sheet, extensive contracted revenue, and high-quality, modern fleet," George Youroukos, Executive Chairman of Global Ship Lease, said.Posted On:8-May-2019
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Flex LNG a Step Closer to New York Listing
LNG carrier owner Flex LNG has moved a step closer to listing its shares on the New York Stock Exchange.
On May 7, the company said it publicly filed a registration statement on Form 20-F with the U.S. Securities and Exchange Commission (SEC) relating to the proposed listing of its ordinary shares on the NYSE.
Flex LNG added that no new securities would be issued in connection with the listing, which is expected to commence after the SEC completes its review process. Once completed, the company s ordinary shares would be listed for trading on both the NYSE and the Oslo Stock Exchange.
A registration statement on Form 20-F relating to the shipowner s ordinary shares was filed with the SEC, but has not yet become effective.
The John Fredriksen-controlled company owns a fleet of 13 LNG ships, four existing and nine under construction, being built at Korean shipyards for delivery throughout 2019 to 2021. The company raised USD 300 million in equity back in October and this fully capitalized the company for its fleet.Posted On:8-May-2019
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Seafarer Medevaced from d Amico Tanker off San Francisco
A United States Coast Guard (USCG) helicopter crew medevaced an injured man from an oil tanker off the coast of San Francisco, on May 7.
At approximately 2:20 p.m. (local time) on May 6, Coast Guard watchstanders were informed by the crew of the Liberia-flagged High Progress about a member who reportedly fell and suffered a neck injury.
Due to aircraft limitations, a Coast Guard Air Station San Francisco MH-65 Dolphin helicopter crew could not immediately be dispatched to recover the injured man. Watchstanders monitored the man s condition while the oil tanker continued its course towards San Francisco.
At approximately 4:20 a.m. Tuesday, the Dolphin helicopter crew arrived on scene approximately 65 miles off the coast of San Francisco and hoisted the seafarer.
The crew member was reported in stable condition and transported to Stanford Medical Center in Palo Alto.
The 51,300 dwt High Progress is owned by Italy-based d Amico International Shipping, according to data provided by VesselsValue.
At the time of the incident, the tanker was en route to San Francisco from Vanino, Russia, the ship s AIS data show.Posted On:8-May-2019
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Denmark s Kolding Fjord grounding, again
General cargo ship RIX ATLANTIC ran aground in Kolding Fjord, Denmark, Little Belt, at around 0100 UTC May 7, while approaching port of destinationKolding, en route from Klaipeda, Lithuania. As of 1300 UTC May 7 the ship was still aground. No leaks and visible damages reported. The ship said to be carrying maize.Posted On:8-May-2019
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Dry Cargo Market Collapse Affects Norden s Earnings in Q1
Danish shipping company Norden closed the first quarter of this year with a net loss, impacted by a "surprisingly steep decline in the dry cargo market."
The company suffered a net loss of USD 5.3 million in Q1 2019, compared to a net income of USD 18 million posted in the same period last year.Posted On:8-May-2019
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PSA International to Take Over Halterm, Penn Terminals
Singapore-based port operator PSA International has finalized an agreement to take over the Halterm Container Terminal in the Port of Halifax, Canada, and multipurpose Penn Terminals in Pennsylvania, USA.
According to the company, the terminals would be acquired from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets (MIRA).Posted On:8-May-2019
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Denmark: Cruise Industry Commits to Sustainability with New Manifesto
Twenty-nine cruise destinations have signed Cruise Baltic Sustainability Manifesto, a manifesto pledging increased sustainability in the Baltic Sea region s ports and cities.
This is a result of an international cruise conference that took place in Copenhagen today.Posted On:8-May-2019
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Gibraltar LNG Terminal Officially Opens
A new liquefied natural gas (LNG) regasification terminal that was recently completed by Shell and Gasnor was officially opened in Gibraltar on May 6.
The terminal, which will be operated by Shell s Gasnor subsidiary under an agreement with Gibraltar s government from 2016, will allow the British Overseas Territory to switch from diesel-fueled power generation to cleaner-burning natural gas, using a newly commissioned 80-megawatt gas-fired power plant.Posted On:8-May-2019
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How to cut port waiting times to reduce emissions
Data sharing is a prerequisite to enabling the successful implementation of "Just-In-Time" (JIT) operations - which can cut the time ships spend idling outside ports and help cut emissions as well as save on fuel costs. Participants at a roundtable meeting of IMO s Global Industry Alliance to Support Low Carbon Shipping (GIA) at IMO Headquarters, London (1-2 May), agreed that increased transparency of information through data sharing was imperative, while this should be achieved through standardized functional and data definitions.Posted On:8-May-2019
Credits: www.bunkerportsnews.com |
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One Thing To Remember About The COSCO SHIPPING Development Co.
Anyone researching COSCO SHIPPING Development Co., Ltd. (HKG:2866) might want to consider the historical volatility of the share price. Volatility is considered to be a measure of risk in modern finance theory. Investors may think of volatility as falling into two main categories.Posted On:8-May-2019
Credits: www.bunkerportsnews.com |
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First vessel to make big crossing from Antwerp to Brazilian port of Acu
Last week the BBC Amethyst anchored in Porto do Acu, Brazil. She is the first vessel to make the big crossing from Antwerp to the Brazilian sea port. Quite an achievement for Port of Antwerp International and the local partners who invested in the Brazilian port, thereby promoting trade with Antwerp. Brazil, the biggest economy of Latin America and number 7 in the world, is a key trading partner for the Port of Antwerp.Posted On:8-May-2019
Credits: www.bunkerportsnews.com |
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