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.: 23-Aug-2019 :. Search News
Displaying 1 to 11 of Records.
Page 1 of 1
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NorthStar Midstream Orders LNG Bunker Barge for US East Coast Ops
U.S.-based NorthStar Midstream has contracted compatriot shipbuilder Fincantieri Bay Shipbuilding to build an LNG bunker barge for operations along the country s East Coast.
The 5,400 cbm barge will operate as an articulated tug and barge unit that will initially provide LNG bunkering solutions to NorthStar s customers in the area.
To be fitted with four 1,350 CBM IMO Type C tanks, the unit will utilize a cargo handling system designed and developed by Finland-based Wartsila. The ABS classed vessel will be 103 meters long, and will have a depth of 10 meters.
Fincantieri Bay Shipbuilding informed that the contract contains options for two additional barges.
"We see increased domestic industries looking to LNG as their future fuel source, and we are extremely excited to be on the forefront of LNG domestic marine transportation," Tim Casey, Executive President of LNG for NorthStar Midstream, said.
Additionally, NorthStar Midstream has established Polaris New Energy (PNE) to focus on the transportation and distribution of LNG along the coastal and inland waterways of the United States.
PNE will be sourcing LNG from JAX LNG, a new LNG production facility in Jacksonville, Florida, created through a partnership between NorthStar and Pivotal LNG.
JAX LNG previously received U.S. Coast Guard approval to conduct ship-to-ship LNG bunkering with TOTE Maritime s Marlin Class ships and the LNG barge, Clean Jacksonville.

Posted On:23-Aug-2019



StealthGas to Add Two LPG Units to Its Fleet
LPG shipping company StealthGas has reached agreements to expand its fleet with the acquisition of two vessels.
Namely, the company concluded a deal to purchase a new 11,000 cbm pressurized vessel, its largest pressurized ship to-date. The unit is scheduled to be delivered from a Japanese shipyard in 2021.
Additionally, the shipowner, together with its joint venture partner, took delivery of a secondhand 38,000 cbm fully refrigerated LPG ship. The vessel in question is the 2007-built Eco Nebula that is already fixed on a six-month time charter.
With the latest addition, the company s recently established joint venture scheme now counts five vessels. Four out of the five units are currently on time charter contracts.
The acquisitions marked the company s expansion into new areas of LPG, according to Michael Jolliffe, StealthGas Chairman, said in the second quarter of 2019 conference call.
"With these deals, our company further strengthens its presence across the LPG size spectrum. We felt the timing was right to diversify our revenue stream, whilst remaining in the LPG segment, in which we have gained significant expertise across the years.
"It is with no doubt that the smaller LPG pressurized market will always remain our core activity, but we felt we should expand our activity especially now that the broader LPG transportation market looks so promising."
During the second quarter ended June 30, 2019, StealthGas delivered a net loss of USD 0.2 million, compared to a net loss of USD 0.4 million reported in the same period a year earlier.
Revenues for the quarter amounted to USD 34.1 million, decreasing by 21.4% from USD 43.4 million seen in the second quarter of 2018, mainly as a result of the strategic reduction of the company s owned fleet by ten vessels, one less charter-in vessel and reduced revenue as a result of the weak Asian spot market.

Posted On:23-Aug-2019



Frontline Buying Up to 14 Suezmax Tankers from Trafigura
John Fredriksen s shipping company Frontline has signed a deal to purchase ten 2019-built Suezmax tankers, fitted with exhaust gas cleaning systems, from a subsidiary of Trafigura.
Under the contract, the company would acquire a Trafigura Maritime Logistics special purpose vehicle that holds the vessels at a consideration of 16,035,856 ordinary shares of Frontline at an agreed price of USD 8.00 per share issuable upon signing, and a cash amount ranging from USD 538 to 547 million.
Frontline expects the transaction to close between mid-with November 2019 and mid-March 2020. Until then, the company would time charter all the units at a daily rate of around USD 23,000 in order to obtain earlier exposure.
The shipowner also agreed to charter five of these ships back to Trafigura on three-year time charters at a daily base rate of USD 28,400 with a 50% profit share above the base rate.
The company is currently in discussions with lending banks who have indicated an interest in providing financing for the vessels. An affiliate of Hemen Holding, Frontline’s largest shareholder, has offered a USD 547 million commitment at closing of the acquisition through a three-year facility.
Following the closing of the deal, Trafigura will own 8.48% of the ordinary shares of the tanker owner, while Frontline will have a total of 189,153,166 outstanding shares par value USD 1.00 each.
Additionally, the company has two separate options to purchase four more Suezmax tankers, 2019 Cinese built and fitted with exhaust gas cleaning systems, through the acquisition of a second TML special purpose vehicle.
The options expire on September 12 and 24, 2019. The second option will expire if the first option is not validly exercised.
"This transaction is backed by our strong belief in tanker market fundamentals and reflects our ability to act swiftly and decisively with the support of our largest shareholder," Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS, said.
"The structure of the transaction creates an immediate impact to our earnings at a time when we expect freight rates to increase significantly. Moreover, we expect the acquisition to boost our dividend capacity going forward," Macleod added.
Following the acquisition of the 10 Suezmax tankers from Trafigura, Frontline s fleet will consist of 75 vessels, including newbuildings, with an aggregate carrying capacity of 14.2 million dwt and an average age of 3.7 years.

Posted On:23-Aug-2019



Wallenius Wilhelmsen Hit with Criminal Cartel Charges in Australia
Norway-based shipping company Wallenius Wilhelmsen Ocean (WWO) has been charged with criminal cartel conduct in Australia.
The charge relates to alleged cartel conduct concerning the international shipping of certain vehicles to Australia between June 2011 and July 2012, the Australian Competition and Consumer Commission (ACCC) unveiled on August 23 after continuing investigations into the matter.
"This is the third prosecution involving an international shipping company engaging in alleged cartel conduct where criminal charges have been laid under the Competition and Consumer Act," Rod Sims, ACCC Chair, said.
The charge was laid by the Commonwealth Director of Public Prosecution (CDPP) in the NSW District Registry of the Federal Court. The matter has been set down by the court for a first mention on August 29, 2019.
This matter has been investigated and prosecuted in a number of other jurisdictions, including the United States.
The charges follows convictions against Nippon Yusen Kabushiki Kaisha (NYK), in August 2017 and Kawasaki Kisen Kaisha (K Line) in August 2019 for cartel conduct in the same cartel WWO has allegedly participated in.

Posted On:23-Aug-2019



LPG tanker attacked in Gulf of Guinea, all safe
LPG tanker NAVIGATOR CAPRICORN while under way to Lagos from Bonny, Nigeria, was attacked by pirates in position 03 33N 006 40E, some 56 nm S of Bonny, at 0430 UTC Aug 17. Crew retreated to citadel, activating security alarm. Nigerian Navy team boarded tanker, but pirates already fled. One crew was missing in citadel, understood he hided someplace else, and came out safe. No information on looted property, either ship s or personal.

Posted On:23-Aug-2019



Passenger ferry with 111 passengers gutted by fire, rescue continues, Java sea
Ro-ro passenger ferry KM SANTIKA NUSANTARA suffered major fire on board at around 0300 WIB Aug 23 in Java sea near Masalembu islands, while en route from Surabaya Java to Balikpapan, Borneo island, Makassar Strait. Ferry was carrying 111 passengers, including 6 children and 5 toddlers, and 83 vehicles. Two ferries were directed to engulfed in flames KM SANTIKA NUSANTARA, local fishermen also trying to rescue people. By 1000 WIB 53 people were reportedly, rescued. Judging from latest photos, fire looks like it burned out by itself or was extinguished.

Posted On:23-Aug-2019



New Trade Figures: Ports Welcome Steady Performance Despite Political Uncertainty
The data for 2018 shows stable port freight tonnages overall, with only a 0.1% difference on the previous year at 483.3 m tonnes. However, overall unit load traffic declined; which is likely to be attributed to a decline of port traffic in passenger cars and new trade cars (both imports and exports).

Posted On:23-Aug-2019



Credits: www.bunkerportsnews.com

JAXPORT achieves highest July container volumes on record
JAXPORT has achieved its best ever July container volumes, with total container movements increasing 19 percent over the previous July. More than 116,000 twenty-foot equivalent units (or TEUs, the industry standard for measuring containers) moved through JAXPORT in July 2019.
So far in Fiscal Year 2019, more than 1.1 million containers have moved through JAXPORT, an increase of 9 percent over the same period last year.

Posted On:23-Aug-2019



Credits: www.bunkerportsnews.com

Extra Brexit funding may have limited impact
An extra GB£9m will be made available to ensure local areas and major ports are ready for Brexit, the UK government has announced, but a trade association has cast doubt over how many more preparations can be made before 31 October.
GB£5m will be given to local councils which either have or are near to a major air, land or sea port with the aim of ensuring they will continue to operate efficiently when the UK leaves the EU on the planned date of 31 October.

Posted On:23-Aug-2019



Credits: www.bunkerportsnews.com

DP World Liege Container Terminal boosts eco-efficiency with Konecranes
Konecranes Port Services will retrofit electrification to a Model 2 Konecranes Gottwald Mobile Harbor crane in DP World s Liege Container Terminal in Belgium, lowering the terminal s local emissions and noise.
Strategically located along the Meuse river in eastern Belgium, the Port of Liege is the third-largest river port in Europe, directly linked to both Antwerp and Rotterdam.

Posted On:23-Aug-2019



Credits: www.bunkerportsnews.com

Seasonal Variations Push Hoegh LNG into the Red
Norway s Hoegh LNG ended the second quarter of 2019 with in the red amid seasonal variations and dry docking costs.
The company recorded a net loss of USD 3.6 million for the quarter, down from a profit of USD 4.5 million reported in the first three months of 2019. This decrease is the result of lower EBITDA, partly offset by reduced interest expenses.

Posted On:23-Aug-2019
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