27-August-2017
Saudi Arabia’s Bahri has made an official announcement that its esteemed dry bulk unit, Bahri Dry Bulk Co LLC, has successfully entered into contractual agreements with Hyundai Mipo Dockyard for the construction of four (4) new bulk carriers, valuing an impressive $120 million. The construction of four (4) new bulk carriers is set to commence immediately, with delivery scheduled for the year 2020. The incorporation of these four (4) new bulk carriers into Bahri Dry Bulk Co LLC’s fleet harmonizes seamlessly with Bahri’s long-term strategy for expansion and diversification. Upon their delivery, four (4) new bulk carriers will significantly contribute to fulfilling the burgeoning demand that Bahri Dry Bulk Co LLC is currently witnessing for the importation of vital grains, such as barley, wheat, and corn, into Saudi Arabia. Bahri Dry Bulk Co LLC stands as a joint venture, with Bahri owning a substantial 60% and ARASCO, the largest grain importer in Saudi Arabia, holding the remaining 40%. The joint venture effectively operates a distinguished series of five 82K DWT (deadweight tonnage) bulk carriers procured from Japan’s esteemed Oshima Shipbuilding in 2012, marking its initial venture into the dynamic dry bulk market.
27-August-2017
Corpus Christi Port Authority has been evaluating the devastation after Hurricane Harvey cleared through an area north of the port. Corpus Christi Port Authority will control the bottom of the channel as silt may be accumulated at the entrance at La Quinta. Currently, United States Coast Guards (USCG) prohibits vessels from Houston to Corpus Christi.
25-August-2017
Oslo Stock Exchange-listed Norwegian shipowner and operator Belships reported a marginally elevated profit for the second quarter of 2017, maintaining consistent revenue streams. In Q2 2017, Belships registered a profit amounting to $730,000. Possessing a fleet comprising five dry bulk carriers and an additional two chartered-in vessels, this esteemed operator saw its operational expenses escalate to $3.41 million during the same quarter.
24-August-2017
Four well-armed pirates boarded in 2008 built handysize dry bulk carrier 33K DWT MV Star Lily in Straits of Malacca off Singapore. MV Star Lily’s crewmembers activated anti-piracy devices on board. Pirates escaped and no crewmembers were injured.
23-August-2017
The USA grand jury charges German shipowner and operator Minship Shipmanagement GMBH (MST Mineralien Schiffahrt Spedition und Transport) for falsifying records to cover up oily discharges MV Marguerita.
Minship Shipmanagement GMBH (MST Mineralien Schiffahrt Spedition und Transport) has been accused at charges about falsifying records to cover up oily discharges from 2016 built handy bulk carrier 27K DWT MV Marguerita. US Federal Court in Portland, Maine, alleges violations of the Act to Prevent Pollution from ships and falsification of records with the attempt to impede US Coast Guard examinations.
In 2016 Minship Shipmanagement GMBH (MST Mineralien Schiffahrt Spedition und Transport) pleaded guilty to similar charges in the USA. MV Marguerita chief engineer had performed an unexplained and undesired discharge of bilge water. In July 2017, M/V Marguerita was boarded last month by the US Coast Guard and detained.
21-August-2017
US Navy destroyer USS John S McCain collided with Brave Maritime’s 50K DWT MT Alnic MC off Singapore. Search and rescue efforts continued with local Singapore authorities.
20-August-2017
Russian energy giant Rosneft has successfully finalized the acquisition of a 49.13% stake in Essar Oil, an Indian oil company, from Essar Energy Holdings and its affiliates. The transaction is valued at approximately $12.9 billion. In a parallel move, an investment consortium consisting of Trafigura and UCP has also completed the acquisition of an identical 49.13% share in Essar Oil. This acquisition is notable for being the largest foreign investment in India to date, as well as the biggest outbound deal from Russia. Rosneft has highlighted the significant potential for development and synergy that Essar Oil’s assets will bring, especially in enhancing the company’s presence in the Asia Pacific markets. Igor Sechin, Rosneft’s Chief Executive Officer, remarked on the significance of this acquisition, stating that it marks a new chapter for Essar Oil. The company, along with its partners, plans to significantly improve Essar Oil’s financial performance and, over the medium term, aims to develop its assets further. Sechin emphasized that this deal is not just a milestone for Essar Oil but also a significant achievement for Rosneft, marking its entry into the high-potential and rapidly growing Asia Pacific market. The acquisition of a stake in the Vadinar refinery, in particular, is expected to create unique synergy opportunities with Rosneft’s existing assets and improve the efficiency of supply to other countries in the region.
20-August-2017
Foremost Group, a prominent shipowner and operator based in New York, has recently finalized contracts with Japan’s Oshima Shipbuilding for the construction of two 85K DWT kamsarmax bulk carriers. This new order is a strategic part of Foremost Group’s ongoing plan to optimize its fleet, with the expected delivery of these vessels set for 2019. The financial specifics of the deal have not been made public. In addition to this latest order, Foremost Group is also overseeing the construction of two other bulk carriers at Oshima Shipbuilding. Complementing these developments, the company placed an order for two 180K DWT capesize bulk carriers at China’s Waigaoqiao Shipbuilding at the end of June. As of now, Foremost Group’s operational fleet comprises 16 bulk carriers, highlighting its significant presence in the global maritime shipping sector.
17-August-2017
The MV Clia, a bulk carrier owned by Greek company Transmed Shipping Ltd, has been successfully refloated this morning after running aground near Kaohsiung earlier this week. 92K DWT post-panamax bulk carrier MV Clia encountered trouble while delivering over 80,000 tons of coal to the Hsinta power plant in Taiwan. An initial effort to refloat the post-panamax bulk carrier MV Clia on Tuesday was unsuccessful. Subsequently, a comprehensive examination of the ship’s condition was conducted by the Athens-based shipowner and operator Transmed Maritime Ltd and the maritime authorities in Taiwan. Based on this assessment, a salvage operation was planned and executed, involving seven tugboats. This coordinated effort resulted in the successful refloating of the vessel. Athens-based shipowner and operator Transmed Maritime Ltd controlled post-panamax bulk carrier MV Clia is now anchored at the terminal of the Hsinta power plant, following its recovery from the grounding incident.
15-August-2017
The MV Clia, a post-panamax bulk carrier controlled by Athens-based Transmed Maritime Ltd, ran aground near Kaohsiung, Taiwan. The incident occurred late on Monday while the post-panamax bulk carrier MV Clia was transporting over 80,000 tons of coal to Taiwan Power’s Hsinta power plant. Despite efforts by Greece’s Transmed Shipping Ltd to refloat the MV Clia using tugboats yesterday, these attempts were unsuccessful. Following the grounding, Taiwan’s Maritime Port Bureau conducted an inspection of the stranded MV Clia and found no breaches in the hull or oil leaks. Fortunately, there were no casualties or injuries reported from the incident. Local maritime specialists have advised that salvage operations should commence promptly, particularly with the impending typhoon season, which could pose a significant risk to the MV Clia. A spokesperson from Taiwan Power has confirmed that all parties involved are actively working on developing salvage plans for the MV Clia.
13-August-2017
MV Spring Sky’s captain was airlifted by The US Coast Guard (USCG). 2014 built ultramax bulk carrier 61K DWT MV Spring Sky’s captain became sick and was airlifted 200 miles off Port Canaveral.