Shareholders Approve SAAM's $1 Billion Terminals Sale to Hapag-Lloyd
SAAM shareholders at an extraordinary shareholderâs meeting on Tuesday approved a deal valued at about $1 billion to sell 100% of the shares of its subsidiaries SAAM Ports and SAAM Logistics, as well as the real estate assets belonging to the logistics business, to the German liner shipping company Hapag-Lloyd.The agreement, first announced earlier this month, consists of selling SAAMâs stakes in the 10 port terminals it operates in six countries in the Americas (five are in Chile)âŠ
Höegh Autoliners Exercises Option to Buy 2099-built RoRo
Höegh Autoliners announced it has exercised its option to purchase Höegh St. Petersburg for $29,300,000, well below the $70 million average market value estimated by three different brokers for the end of Q3.âHöegh Autoliners is again demonstrating its commitment to serve and build a long-term relationship with our customers based on a fleet we own and control. All our deep-sea operated vessels are owned (29 vessels) or on charters with purchase options (five vessels).
Crude Tanker Rates Expected to Stay Strong Despite Russia Turmoil
Prospects for the crude oil tanker market are expected to stay strong for at least the next year helped by low ship ordering, despite the loss of some trade from Russia due to Western sanctions, leading ship operators say.Russia has increased exports to Asia, Africa and South America following the imposition of Western sanctions for its invasion of Ukraine.
Peacock Set to Take Over as CEO of The Shipownersâ Club
The Shipownersâ Club, a P&I insurer in the smaller and specialist vessel sector, announced Simon Peacock will take over as CEO in 2023.Current CEO Simon Swallow will be stepping down on May 25, 2023 before starting his retirement on August 3, 2023. The current Chief Financial Officer (CFO), Simon Peacock, will be the incoming CEO on May 25, 2023. Marcus Tarrant, currently Director and Chief Actuary of the Clubâs management companyâŠ
Tianjin Southwest Maritime to Convert LPG Carrier Pair for Dual-fuel Operations
MAN Energy Solutionsâ after-sales division, MAN PrimeServ, has announced the signing of a contract to retrofit two LPG carriers for Tianjin Southwest Maritime Ltd. â the Chinese liquefied-gas carrier operator. The COSCO Shipping Heavy Industry (Guangdong) yard will host the respective conversions of the individual MAN B&W 6G60ME-C engines aboard the âGas Geminiâ and âGas Aquariusâ to dual-fuel MAN B&W 6G60ME-LGIP units capable of running on LPG.
USACE Orders Crane Barge for St. Marys River
The U.S. Army Corps of Engineers, Detroit District in concert with the Philadelphia District and the Marine Design Center awarded a 11.4 million contract to Southwest Shipyard in Houston for a new crane barge on the St. Marys River.âThe new crane barge will perform critical lock and hydropower facility maintenance at the Soo Project Office (Soo Locks),â said Justin Proulx, Chief of the St. Marys River Section.
Police Guard LNG Ports as Germany Fast-tracks Critical Infrastructure Law
Germany has ordered police to guard LNG terminals under construction and increased aerial supervision of its rail network as it prepares a law to bolster the protection of critical infrastructure, its interior minister told Reuters.Suspected sabotage on the German rail network and on the Baltic Sea gas pipelines linking Germany and Russia in recent weeks have raised concerns about the country's exposureâŠ
AMSC Takes Delivery of Construction Support Vessel. Leases it to Solstad Offshore
American Shipping Company ASA (AMSC) has completed the acquisition and taken delivery of the Normand Maximus construction support vessel.The vessel has already started a long-term bareboat charter with a subsidiary of the Norwegian offshore vessel operator Solstad Offshore upon delivery."The Normand Maximus is a premier offshore construction vessel and one of the most modern heavy duty subsea vessels.
Nippon Yusen to Invest in Pertamina's Shipping Unit
Japan's Nippon Yusen said on Wednesday it will invest in Pertamina International Shipping (PIS), a unit of Indonesia's state energy firm Pertamina, without disclosing terms of the deal. ,The move by Japan's biggest shipping company is aimed at expanding business in Indonesia, where energy and energy transportation demand are expected to increase in tandem with the country's economic growth, a spokesperson for Nippon Yusen said. Nippon Yusen plans to complete the deal by the end of 2022.
U.S. Envoy in Lebanon Next Week with Maritime Deal to Sign
U.S. energy envoy Amos Hochstein will be in Beirut next week carrying a copy of the maritime agreement with Israel for Lebanese officials to sign, Lebanese negotiator Elias Bou Saab told Reuters on Wednesday. The deal - hailed by all three parties as a historic achievement - marks a diplomatic departure from decades of war and hostility and once in force will open the door to offshore energy exploration. "Hochstein will be in Beirut next week with the agreement that we will sign," Bou Saab said.
Baglietto Navy Partners with MST Group
Baglietto Navy, the military division of the historic shipyard based in La Spezia, announce it has formed a commercial partnership with MST Group, a company with headquarters in Bromborough (UK), specializing in the design and construction of military naval units up to 32m in length. The agreement was secured amid the active collaboration of METCO METALS, in the person of Giuseppe Censabella, MST GroupâsâŠ
Severe Weather Led to Fatal Seacor Power Capsizing
Severe winds during a thunderstorm led to a loss of stability and ultimately the capsizing of the liftboat Seacor Power, the National Transportation Safety Board (NTSB) said Tuesday during a public board meeting. Of the 19 people aboard the vessel, six died and seven are missing, presumed dead. Six people were rescued by the U.S. Coast Guard and other vessels. The Seacor Power, valued at $25 millionâŠ
Eastern Cuts Steel for Fourth USCG Offshore Patrol Cutter
Eastern Shipbuilding Group, Inc. (ESG) commenced construction of U.S. Coast Guard Cutter (USCGC) Rush (WMSM-918), the fourth hull of the Heritage Class Offshore Patrol Cutter (OPC) program. The occasion was observed by leaders of the U.S. Coast Guard Project Resident Office at ESGâs Allanton Shipyard where the first steel plates were cut by ESG personnel in the builderâs 103,000-square-foot steel andâŠ
Himalaya Shipping Secures Time Charters for Four More Ships
Himalaya Shipping on Monday announced it has entered into time charter agreements for four dry bulk vessels with Koch Shipping Pte Ltd.The bulk carrier newbuilds will commence a 24-month time charter with an evergreen structure upon delivery from China's New Times Shipyard in the second and third quarter of 2023, with certain options to roll two charters to 2024.Himalaya Shipping said the vessels will earn an index linked rateâŠ
Transnet Agrees Wage Deal with Majority Labor Union
South African state-owned logistics firm Transnet said on Monday it had agreed a three-year wage deal with the union representing the majority of its workers, ending a two-week strike that had hit commodities exports and piled up millions in losses."Transnet and the company's majority union United Transport and Allied Trade Union (UNTU) reached a three-year wage agreement today," it said in a statementâŠ
Shipping Woes to Squeeze China's Soybean Stocks, Hit Feed Output
China's soybean stocks are set to tighten further as delays in shipments from the United States deepen shortages of key animal feed ingredient soymeal, keeping prices at record highs.Ships carrying up to three million tonnes of U.S. soybeans which were scheduled to arrive this month and in November are likely to get delayed by about 15 to 20 days, two soybean traders told Reuters.While U.S. cargo delays are likely to weigh on benchmark Chicago soybean futuresâŠ
Hungary's New Container Terminal Aims to Boost Ukrainian Grains Shipments
Europe's largest land-based container terminal started operating near Hungary's border with Ukraine on Tuesday, aiming to increase shipments of Ukrainian grains via Hungary to Adriatic ports.The East-West Gate terminal, built at a cost of about 40 billion forints ($95.65 million), allows containers to be transferred between wide and standard gauge rail tracks as well as between trains and trucks.It "will have a huge role in shipping Ukrainian grainsâŠ
Cruise Industry Making Headway Toward Net Zero
The global cruise industry continues to make progress as it works to achieve its goal of net-zero carbon cruising by 2050, though the need for development and deployment of sustainable marine fuels remains.The 2022 Global Cruise Industry Environmental Technologies and Practices Report from trade group Cruise Lines International Association (CLIA) reveals an increasing number of vessels launching overâŠ
Finnlines Adds Two New RoPax Vessels Between Sweden and Finland
Finnlines will make major investments in its route between Sweden and mainland Finland via Åland during 2023 as the freight and passenger shipping company continues to bounce back from the pandemic slowdown.The company announced on Tuesday that it is introducing two new Superstar cargo-passenger vessels as part of general plans for increasing passenger comfort on the KapellskärâLångnäsâNaantali routeâŠ
50-meter Section Missing from Damaged Nord Stream Pipeline
Damage to the Nord Stream gas pipeline from Russia to Europe was caused by powerful explosions, Danish police said on Tuesday, echoing earlier findings into leaks that erupted in the network under the Baltic Sea and that have been blamed on sabotage.In what a Swedish newspaper described as the first publicly released footage of damage to the system, film from a private drone appeared to show a gaping rupture in one pipe.
