Crowley takes delivery of third LNG ready tanker
APRIL 15, 2016 — Crowley Maritime Corp.today took deliveryof Louisiana, the third of four new, 330,000 barrel Jones Act product tankers being built for the company by Philly Shipyard, Inc. The 50,000
APRIL 15, 2016 — Crowley Maritime Corp.today took deliveryof Louisiana, the third of four new, 330,000 barrel Jones Act product tankers being built for the company by Philly Shipyard, Inc. The 50,000
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FEBRUARY 22, 2016 —Singapore headquartered Otto Marine is succeeding in diversifying the product mix at its Batam, Indonesia, shipyard. It has secured contracts worth a total $23 million from two Indonesian customers
FEBRUARY 3, 2016 — The Coast Guard yesterday responded to a vessel allision at mile marker 104.3 on the Mississippi River near New Orleans. The 116,104 dwt, 2007-built Cyprus flagged tanker Nordbay
FEBRUARY 1, 2016 —The Spanish Supreme Court’s decision to sentence Captain Mangouras to two years imprisonment over the 2002 Prestige oil spill is meeting with growing industry condemnation. ITF seafarers section chair
DECEMBER 30, 2015 — Philly Shipyard, Inc. reports that it has signed a commitment letter with Caterpillar Financial Services Corporation (Cat Financial) for a $150 million loan facility to finance the construction
The shipyard is the sole operating subsidiary of Oslo-listed Philly Shipyard ASA, which is majority-owned by Converto Capital Fund, which in turn is majority-owned by Aker ASA.
“We are proud to deliver another ship to Crowley and the first under our new name, Philly Shipyard. The Texas, like our 21 previously delivered vessels, continues the long tradition of men and women building quality vessels in Philadelphia,” said Philly Shipyard President and CEO Steinar Nerbovik. “As we continue to build the eight ships in our backlog, we are always looking for more skilled men and women to add to our team.”
The 50,000 dwt, 330,000-barrel-capacity Texas and sister ship Ohio, which was delivered to Crowley in October, are first ever tankers to receive ABS(ABS) LNG-Ready Level 1 approval, meaning Crowley has the option to convert the tanker to liquefied natural gas (LNG) fueled propulsion in the future. The remaining two product tankers being built by Philly Shipyards for Crowley have planned deliveries from the shipbuilder in 2016.
“We are excited to close out 2015 with the addition of this technologically advanced vessel to our fleet of U.S.-coastwise product tankers,” said Rob Grune, Crowley’s senior vice president and general manager, petroleum and chemical transportation. “We constantly strive for ways to enhance the services we provide to our chemical and petroleum customers. The introduction of vessels like Ohio and Texas, with their advanced technology and environmentally friendly fuel options, prove that we are innovating the industry and we are doing it with American built, Jones Act vessels.”
The new 50,000 dwt product tankers are based on a proven Hyundai Mipo Dockyards (HMD) design which incorporates numerous fuel efficiency features, flexible cargo capability, and meets the latest regulatory requirements. The vessel is 600 feet long and is capable of carrying crude oil or refined petroleum products.
Crowley’s Seattle-based, naval architecture and marine engineering subsidiary Jensen Maritime is providing construction management services for the product tankers. Jensen now has an on-site office and personnel at the Philadelphia shipyard to ensure strong working relationships with shipyard staff and a seamless construction and delivery program.
DECEMBER 16, 2015 — After weeks of closed-door conclaves and late-night haggling, Republicans and Democrats reached an agreement Tuesday night on a $1.1 trillion omnibus spending bill to fund the U.S. government
SEA-Vista is a partnership between SEACOR Holdings Inc. and private equity firm Avista Capital Partners. Its ships will be operated by SEACOR subsidiary Seabulk Tankers, Inc.
The Independence is a 610-foot, 50,000 deadweight-ton, and LNG-conversion-ready Jones Act product tanker with a 330,000 barrel cargo capacity. Construction on the ship began in November 2014.
As part of the ceremony, the ship’s sponsor, Mrs. Allison Moran, CEO of RaceTrac Petroleum, christened the ship with a traditional champagne bottle break over the ship’s hull. Mrs. Jayne Rathburn, former CEO/owner of US Joiner, pulled the trigger to release the ship into the San Diego Bay.
“General Dynamics NASSCO shipbuilders are revolutionizing the future of American shipping with the concept and construction of innovative, cost-saving, and environmentally-sound vessels,” said Kevin Graney, vice president and general manager for General Dynamics NASSCO. “When delivered, these ECO Class, Jones Act-qualified tankers will be among the most fuel-efficient and environmentally-friendly tankers anywhere in the world.”
“We are pleased to complete this important milestone for the first in a series of three fuel-efficient, ECO Jones Act product tankers that will be delivering into the SEA-Vista fleet and operated by Seabulk Tankers, Inc,” said Daniel J. Thorogood, president and chief operating officer for Seabulk Tankers, Inc.
For its commercial work, NASSCO partners with South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME), for access to state-of-the-art ship design and shipbuilding technologies.
Today it entered into an agreement to purchase four fuel-efficient LR2 newbuildings from Chinese shipbuilder Guangzhou Shipyard International (GSI) with expected delivery in the period between the fourth quarter of 2017 and the second quarter of 2018. The agreement includes the option to purchase up to six additional vessels within the LR2, LR1 or MR segment with expected delivery in 2018 and 2019.
Torm expects to have a total CAPEX relating to the four firm vessels of approximately $200 million, including extra costs related to Torm’s design requirements and supervision. It says it is in advanced dialogue with potential lenders obtain financing for the newbuildings.
With today’s agreement, Torm has CAPEX commitments of $273 million, covering the remaining CAPEX on its remaining three MR newbuildings, one second-hand MR vessel and the four new LR2 vessels. Torm has a liquidity position of approximately $280 million including available debt facilities of $97 million.
Torm says it has utilized its long-term relationship with GSI and China State Shipbuilding Corporation to source today’s contract. Torm already has 16 GSI vessels in the current fleet and has good technical and commercial experience with them. The new vessels will be constructed according to Torm’s specifications in order to optimize trading.