Shipyard switch for LNG-fueled bulker duo
SEPTEMBER 27, 2016 — The two LNG-fueled handy sized bulkers ordered by Finland’s ESL Shipping last November (see earlier story) will now be built at Sinotrans & CSC main yard, Jinling Shipyard,
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Two more Great Lakes bulkers to fit Dupont scrubbers
JULY 7, 2016 —Dupont (NYSE:DD) subsidiary Belco Technologies Corporation, Parsippany, NJ, has been awarded a contract to supply DuPont Marine Scrubbers for two additional Interlake Steamship Company ships. Interlake has now contracted
LNG fueled bulkers are a double first for DNV GL
JANUARY 11, 2016 — Two 25,600 dwt bulk carriers ordered by Finland’s ESL Shipping back in November (see earlier story) will not only be world’s first large LNG-fueled bulkers, but the first
Finnish owner orders first LNG-fueled handysize bulkers
ESL Shipping and Swedish steel company SSAB have signed a long-term frame agreement covering SSAB’s inbound raw material sea transports within the Baltic Sea and from the North Sea. The purpose of the agreement is to enable mutual, long-term gains in efficiency and to reduce overall logistics costs, while simultaneously making raw material logistics as sustainable and environmentally friendly as possible. At present, the aggregated sea transport volume covered by the agreement is estimated to be 6–7 million tons annually.
The two ice-class 1A ships being built as a result of the agreement will be the first LNG-fueled large bulk carriers in the world. CO2 emissions per ton of cargo transported will be reduced by more than 50% in comparison to present vessels.
“This new agreement is a solid example of SSAB’s sustainability strategy in action,” says Per Bondemark, Chief Procurement Officer at SSAB.
“ESL Shipping’s new customer agreement running for several years will secure growing freight volumes, and the new investments to be implemented will release old vessel stock for other transport needs. Besides their environmental benefits, the cost savings provided by the new technology will also allow better profitability,” says Aki Ojanen, Chairman of the Board of ESL Shipping and CEO of its parent Aspo Group.
The two new vessels will be built at the Qingshan Shipyard of Sinotrans & CSC SBICO in China and will start operating in the Baltic
in early 2018. The total value of the investment is approximately EUR 60 million. The investment cash flow will be divided progressively between 2015 and 2018.
ESL Shipping has worked in close cooperation with Finnish designer Deltamarin on the ship design and the ships have been tailored to customer needs with special attention given to the efficiency of cargo handling and cargo hold arrangements.
Deltamarin has performed the full concept and contract design of the ships for ESL and has a contract with the shipbuilder covering basic and detail design, procurement handling and site assistance for the two vessels based on Deltamarin’s B.Delta26LNG design.
The LNG-fueled B.Delta26LNG bulk carrier is equipped with both dual-fuel main and auxiliary machinery. The ship has a type C LNG tank of approximately 400 cu.m capacity.
The B.Delta26LNG also exhibits very efficient operation in ice class conditions, far surpassing any other similar ships trading in such conditions. Extensive model tests have been performed for both open water, at SSPA in Sweden, and Ice Class 1A operations, at Aker Arctic Technology in Finland.
The vessels will be classified according to DNV GL rules.
The B.Delta26LNG has a shallow draft of max. 10 m, length overall of 160 m, breadth of 26 m and maximum capacity of 25,600 tonnes deadweight.
Great Lakes bulker operator reports increased net
Before a tax benefit of approximately $0.22, net income per share increased to $0.36 on a fully diluted basis or 12.5% over the prior year period.
“The 2015 sailing season has remained consistent with our initial outlook,” commented Ed Levy, President and CEO of Rand. “We continue to focus our efforts on the factors of our business that we can control. We have experienced continued improvement in the key operating and financial metrics that drive our business, including lower vessel delays and days out of service, combined with improvements in tons hauled, freight and related revenue, and vessel margin per day. The year to date financial impact of these improvements has been masked by a 14% decline in the value of the Canadian dollar versus the U.S. dollar compared to last sailing season.”
Through its subsidiaries, Rand Logistics operates a fleet of four conventional bulk carriers and twelve self-unloading bulk carriers including three tug/barge units. The company is the only carrier able to offer significant domestic port-to-port services in both Canada and the U.S. on the Great Lakes. Its vessels operate under the U.S. Jones Act – which reserves domestic waterborne commerce to vessels that are U.S. owned, built and crewed, – and the Canada Coasting Trade Act – which reserves domestic waterborne commerce to Canadian registered and crewed vessels that operate between Canadian ports.
Freight and other related revenue from company operated vessels (which excludes fuel and other surcharges) decreased $2.3 million, or 4.9%, to $43.8 million during the three-month period compared to $46.1 million in the year ago period. On a constant currency basis, freight and other related revenue increased 4.0%, or $1.9 million.
Total Sailing Days were 1,278 compared to 1,351 in the prior year. The 73-day decline in sailing days was due to 92 lost days attributable to the company’s time chartered bulk carriers. Although these vessels did not operate for the entire quarter, Rand continued to receive daily charter payments at a reduced rate. These lost days were partially offset by a 19 day reduction in days out of service.
Delay Days decreased to 68 from 72. Delay Days as a percentage of total Sailing Days remained relatively constant year over year.
Freight and related revenue per Sailing Day increased $176, or 0.5%, to $34,300 compared to $34,124 per Sailing Day in the year ago period. On a constant currency basis, freight and related revenue per Sailing Day increased 10.0%, or $3,409.Vessel operating expenses decreased $3.6 million, or 10.7%, to $30.0 million compared to $33.6 million during the year ago period. Vessel operating expenses per Sailing Day decreased $1,381, or 5.6%, to $23,498 from $24,879 during the year ago period. On a constant currency basis, vessel operating expenses per Sailing Day decreased 0.9%, or $0.3 million.
Adjusted EBITDA decreased $1.3 million, or 7.3%, to $16.1 million from $17.4 million during the year ago period. On a constant currency basis, Adjusted EBITDA increased 2.0%, or $0.3 million.
Project aims to develop LNG fueled bulkers of the future
Called “Project Forward,” it aims to to develop a commercially feasible LNG-fueled dry bulk carrier design capable of complying with IMO’s Energy Efficiency Design Index 2025 standards, NOx Tier III and Marpol Annex VI SOx emission levels.
The project, which is led by Athens-based bulk carrier owner Arista Shipping, began officially in May this year.
“Project Forward aims to become a milestone for the shipping industry and in particular for owners and operators of cargo ships,” says Arista Shipping Principal Alexander P. Panagopulos. “Owners must decide within the next 5-10 years whether gas as fuel is a practical means of compliance with lower emissions standards and this project will enable all of us to understand its feasibility.”
The concept design will be based on the highly-optimized Deltamarin B.Delta design suitable for ships between 82,000 and 210,000 dwt. It will employ GTT’s membrane-type LNG tanks for fuel containment.
“Compliance with stricter environmental regulations has led owners to consider the potential of using LNG as fuel for cargo vessel newbuildings,” states Deltamarin Managing Director Mika Laurilehto. “There is a clear need to turn this potential into a proven solution for the dry bulk carriers that make up such a large proportion of the world fleet.”
The project will also address the existing dry bulk fleet by developing a modularized LNG fuel retrofit solution for bulk carriers of various sizes.
ABS will conduct concept and detail design approvals according to its rules for bulk carriers and gas-powered ships.
“ABS has gained valuable insights from real-world experience classing the world’s first deepsea ships powered by LNG,” says ABS Vice President of Global Gas Solutions Patrick Janssens. “Our work with owners, designers and shipyards on LNG as fuel and LNG-ready projects brings unique value to Project Forward in enabling the safe adoption of this new fuel type.”
Project Forward will include a number of stages, with a first time horizon of two years’ applied research and development work.
Initial research indicates that the expected emission reductions from Project Forward could be 40% for CO2, 80% for NOx and 98% for SOx.
“It is time for the shipping industry to move forward and embrace the potential of gas-fueled merchant ships,” says GTT Vice President LNG as Fuel division Jacques Danton. “At this time, we can recognize market leaders launching LNG projects now in order to be the first on the learning curve. During the ramp up phase of LNG as fuel, autonomy will be a key feature for integrated solutions as provided by membrane technology.”
Interlake to fit two more bulkers with Dupont scrubbers
AUGUST 17, 2015 — Ohio-based Interlake Steamship Company is to fit two more of its ships with DuPont Marine Scrubber systems supplied by DuPont Sustainable Solutions subsidiary Belco Technologies Corporation (BELCO). The
ClassNK release guidelines for CNG carriers
JULY 30, 2015 — Classification society ClassNK has released its Guidelines for Compressed Natural Gas Carriers.It is predicted that global natural gas demand will grow by 1.8% a year from 2013 to
Greeks lead in bulker scrapping
JULY 8, 2015—During the first six months of 2015, Greece, China, and Singapore were the top three countries in scrapping bulkers, according to Vesselvalues.com. Overall, the three countries combined scrapped a total
Great Lakes dry bulk cargo surges in May
JUNE 22, 2015—U.S.-flag Great Lakes carriers had a bit sunny outlook in May then they had the same time a year ago. That’s because lakers moved 10.8 million tons of dry-bulk cargo