Search Results for: container shipping

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Get Green Financing

October 13, 2015 — Liberian Registry, EfficientShip Finance launch Eco-Upgrade Financing Initiative (Extended coverage from Marine Log’s October 2015 issue). To remain competitive with the new generation of Eco-ships, ship owners of

Aker Philadelphia cuts steel for Matson 3,600 TEU box ships

In 2013, Matson subsidiary Matson Navigation Company, Inc. signed a contract with Aker Philadelphia Shipyard Inc. (APSI) to build the two new ships for a price of $418 million for the pair (see earlier story). Since signing the contracts, engineering, planning and procurement work have been underway.

The shipbuilder is expected to deliver the ships in the third and fourth quarters of 2018.

The 850-foot long, 3,600 TEU vessels will be Matson’s largest ships and the largest Jones Act containerships ever constructed. Despite their size, they are designed to accommodate future needs by being able to navigate safely into some of Hawaii’s smaller ports.

They will also be faster, designed to operate at speeds in excess of 23 knots, helping ensure timely delivery of goods in Hawaii.

The new vessels will incorporate a number of “green ship technology” features including a more fuel efficient hull design, dual fuel engines that can be adapted to use liquefied natural gas (LNG), environmentally safe double hull fuel tanks and fresh water ballast systems.

“These new ships are the future for Hawaii shipping and will bring a new level of efficiency and effectiveness to our service,” said Matt Cox, president and CEO, Matson. “The substantial investment in new technology underscores Matson’s long-term commitment to Hawaii and our desire to serve the islands in the best, most environmentally friendly way into the future.”

The first ships to be delivered by Aker Philadelphia were four Jones Act containerships for Matson delivered between 2003 and 2006.

“We are excited to partner with Matson again and return to our construction roots building containerships,” said Aker Philadelphia President and CEO Steinar Nerbovik. “It’s an exciting time to be a shipbuilder as we embark on simultaneously building containerships and product tankers, fulfilling our commitments to customers and shareholders.”

Asian owner opts for Optimar for BWTS retrofits

 

“This is a major contract, with a global leader in shipping,” says Optimarin CEO Tore Andersen. “Due to confidentiality clauses we can’t say who it is, but we can say that this firm, like many others we have reached frame agreements with, has chosen our system due to our unparalleled expertise in retrofitting and the reliable performance of our proven BWT solution.”

Optimarin says the contract was secured thanks to its retrofit expertise and market proven technology.

The first of the Optimarin units has already been installed, with two further systems following at the beginning of next year, and two more in spring 2016.

Goltens Green Technology, which entered into an agreement with Optimarin last year as a “preferred retrofit partner,” will manage all design and supervision from its Singapore office.

BWTS installation work will be performed at Chinese shipyards with Goltens using its proven retrofit process, employing precision 3D laser scanning and modeling as the basis for detailed design, prefabrication and streamlined system installation.

Goltens and Optimarin have joined forces on nearly 60 worldwide retrofit assignments so far and Mr. Andersen says this shared experience leads to fast-track, problem free installation, with most projects – where prefabrication and preparatory engineering work is completed – concluded within a week.

Optimarin, which fitted the world’s first commercial BWT system in 2000, has now fitted over 270 BWT systems worldwide, from an orderbook that has seen over 350 orders placed. The modular, reliable and easy to install and maintain nature of the system has made it, says Optimarin, the leading retrofit choice for vessels up to 60,000 dwt.

“Our solution combines simplicity with innovation, utilising a combination of automatic back flushing, self cleaning filters and UV irradiation to neutralise all organisms, bacteria and pathogens in ballast water,” Mr. Andersen comments. “We’ve been developing this technology for the past 21 years and that experience is a compelling proposition for owners and yards that, with the ratification of the IMO’s Ballast Water Management (BWM) convention on the horizon, need solutions that they can trust… and need them soon.

“This is particularly true in Asia,” he adds, “where we’re now working with shipowners of the stature of Pacific Radiance, Chellsea and EMAS, while winning newbuild contracts from yards such as ASL Shipyard, Jurong SY, Keppel Singmarine, China Merchant Heavy Industries and Oshima Shipbuilding.”The ten vessels, each requiring 1,000 cu.m/h system capacities, are managed from Hong Kong.

Optimarin recently completed work on extensive in-house testing facilities at its headquarters in Stavanger and its BWTS is currently undergoing a full program of USCG approval testing. It already has IMO approval, USCG AMS acceptance, and certification through DNV GL, BV, RMRS and CCS.

Marathon buys Aker Philly interest in four newbuilds

 

This follows last month’s news that Kinder Morgan, Inc. (NYSE: KMI) had agreed the four Jones Act tankers building for the shipyard’s wholly-owned U.S. subsidiary, Philly Tankers LLC.

Marathon’s buy-out of APSI’s interest in the Crowley joint venture with respect to each vessel will occur on its delivery from the shipyard. Deliveries of all four vessels are expected to occur from Q3 2015 to Q3 2016. APSI expects to recognize a pre-tax gain of approximately $10 million per vessel from the transaction.

APSI will make an investment in the vessels during their construction, but will no longer maintain the previously planned long-term investment in the vessels post-delivery, which was expected to be approximately $110 million in the aggregate.

“This transaction is an important part of AKPS’s plan to divest its shipping investments and realize the value created for shareholders,” said Kristian Rokke, Chairman of AKPS. “We are proud of what we have accomplished together with Crowley under the joint-venture and look forward to serving both Crowley and Marathon Petroleum as shipbuilders into the future.”

All four of the vessels subject to the transaction are under construction. APSI has also begun construction of the first two of four additional 50,000 dwt tankers for a subsidiary of Kinder Morgan, Inc., which are planned to be delivered between November 2016 and November 2017.

The shipyard also has contracts for two 3,600 TEU containerships for Matson Navigation Company, Inc., which are planned to be delivered in 2018.

On July 16, 2015, the company announced that it intends to change its name to Philly Shipyard by the end of the year, pending shareholder approval.

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TOTE unifies maritime companies’ branding

SEPTEMBER 17, 2015 — Jones Act operator TOTE today announced that its  operating companies — Sea Star Line, which serves Puerto Rico and the Caribbean, and Totem Ocean Trailer Express, serving the

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Diana gets $148 million loan from Royal Bank of Scotland

RBS is slowly closing up operations here,” Reuters quoted one source at RBS as saying. Be all that as it may, today Athens, Greece, headquartered Diana Containerships Inc. (NASDAQ:DCIX) said that on September 10 it\ signed a six year term loan facility with the Royal Bank of Scotland plc for up to $148 million, which will bear interest at the rate of 2.75% over LIBOR.

Yesterday, Diana completed a drawdown of $122.5 million, secured by the vessels m/v Sagitta, m/v Centaurus, m/v Pucon, m/v YM March, m/v Great, m/v YM Los Angeles, m/v YM New Jersey and m/v Rotterdam. The drawdown amount was used to voluntarily prepay in full the balance of $92.7 million of the existing revolving credit facility with RBS and to partially finance the acquisition cost of the m/v Rotterdam.

Separately, the company also announced that yesterday, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Maersk Line A/S for one of its Panamax container vessels, the m/v Centaurus, for a period of minimum eleven months to maximum eighteen months. The new gross charter rate will be US$10,875 per day, minus a 5% commission paid to third parties. The new charter period will commence on October 2, 2015.

Centaurus is a 3,426 TEU container vessel built in 2010.

This employment is anticipated to generate approximately $3.59 million of gross revenue for the minimum scheduled period of the charter extension.Diana containerships Inc.’s fleet currently consists of 14 container vessels (5 Post-Panamax and 9 Panamax). It also expects to take delivery of one Post-Panamax container vessel by the end of November 2015.

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Three person submersible can dive to 1,700 m

AUGUST 25, 2015 —Breda, Netherlands, based U-Boat Worx (UBW), today announced the launch of the C-Researcher 3, which it says is “the world’s first transparent three-person submersible capable of diving to 1,700