London-based shipowner and operator Union Maritime Limited (UML), under the leadership of Laurent Cadji, has enhanced its board by elevating its operations and finance executives to director roles. Matt Enston and Michael Kotsapas have ascended to the position of directors within the growing UK-based shipowning entity, Union Maritime Limited (UML). Official records from Companies House indicate that Matt Enston, the chief operating officer, and Michael Kotsapas, the head of finance, were appointed as directors on 4 April 2024. With these appointments, Matt Enston and Michael Kotsapas join the senior leadership circle, now comprising seven members, alongside managing director and the company’s founder, Laurent Cadji. 9-April-2024
The London-based Union Maritime Limited (UML), a prominent owner and operator of tanker and bulker vessels, has expanded its tanker fleet by commissioning six new tanker vessels from Wuhu Shipyard in China. Directed by Laurent Cadji, Union Maritime Limited (UML) has placed orders for an additional four 18K DWT chemical tankers and two 49K DWT MR2 tankers, with the collective value of the orders approximating $210 million. Established in 2006, Union Maritime Limited (UML) boasts a diverse portfolio of 91 vessels, inclusive of 26 newbuilds, with a significant number being constructed in various Chinese shipyards. 27-March-2024
London-based shipowner and operator Union Maritime Limited (UML) is enhancing two of its under-construction LR2 tankers at Shanghai Waigaoqiao Shipbuilding (SWS) in China by incorporating BAR Tech wind-assisted propulsion technology. Slated for delivery in late 2025, these vessels will be equipped with three WindWings rigid sails each. Union Maritime Limited’s (UML) integration of BAR Tech’s WindWings into its LR2 tankers marks a continuation of the technology’s adoption, as seen with its previous installations on the Pyxis Ocean and Berge Olympus vessels in the latter half of 2023. John Cooper, CEO of BAR Tech, highlighted this latest agreement with London-based shipowner and operator Union Maritime Limited (UML) as evidence of the increasing market interest in WindWings technology and its potential advantages for maritime operations. The WindWings system, designed to work in tandem with a route optimization system, dynamically adjusts the rigid sails based on wind conditions, vessel velocity, and trajectory to maintain or enhance the ship’s speed efficiently. BAR Tech reports that this innovation can lead to significant savings—up to 1.5 tonnes of fuel and roughly 5 tonnes of CO2 emissions reduction per wing per day on standard international voyages. 11-March-2024
Based in Qingdao and listed in Hong Kong, Seacon Shipping Group Ltd has recently purchased two chemical and product tankers at a combined price of $28 million. For the vessels Kenrick and Enford, built in 2012 by Taizhou Sanfu and previously associated with Union Maritime Limited (UML) based in London, Seacon Shipping Group Ltd is disbursing $14 million for each. The handover of these ships is anticipated in the last quarter of 2023. As a component of this transaction, London-based shipowner and operator Union Maritime Limited (UML) will engage in a charter-back agreement for these two 16K DWT chemical and product tankers for a duration of two years, at a daily charter rate of $16,250, with an option to extend for a third year at $16,500 daily. Moreover, Seacon Shipping Group Ltd has completed a sale and leaseback deal with Bank of Beijing Financial Leasing for the 13K DWT general cargo ship, MV Seacon Yokohama, in a contract valued at $21.25 million, featuring a 10-year bareboat charter. Additionally, Seacon Shipping Group Ltd executed a purchase option for the 2010-constructed supramax bulk carrier MV Seacon Dalian from Bank of Communications Financial Leasing (BoCom Leasing), and subsequently sold it to PT Cakra Buana Resources Energi in Indonesia for $12.8 million. Seacon Shipping Group Ltd also enhanced its fleet by securing the 2009-built 17K DWT chemical tanker MT Chem Lyra under a 60-month bareboat charter that includes a buyout clause at the charter’s conclusion and an option to purchase earlier, with the overall deal valued around $14.5 million. 9-November-2023
The London-based Union Maritime Limited (UML), a prominent shipowner and operator, has reportedly netted $36 million from selling assets, while concurrently investing $65.5 million in two new LR2 tankers at Jiangsu Hantong, scheduled for delivery in 2025. This UK firm, specializing in both bulk and tanker sectors, has successfully sold two aframax tankers, each 14 years old and 116K DWT. Acquired in late 2019 for about $21 million apiece, the Hanjin-manufactured sister vessels, MT Fulmar and MT Anavatos II, were recently sold for a commendable $39 million. Union Maritime Limited (UML), based in London, has been in the spotlight for its strategic sales, having disposed of around 40 older tankers since 2020, marking significant transactions and earnings in recent years. 17-September-2023
The London-based Union Maritime Limited (UML), a prominent shipowning and operating entity, has completed its third MR tanker acquisition of the year. Union Maritime Limited (UML) has procured an MR tanker from Navigare Capital, investing approximately $33.5 million in the 50K DWT vessel MT Kiribora. Earlier, in February 2023, Union Maritime Limited (UML) expanded its fleet with the purchase of MT Marlin Amethyst for a similar amount, a transaction facilitated by M Sea Capital. Additionally, in January 2023, Union Maritime Limited (UML) acquired the STX-constructed 47K DWT tanker MT Proodos for an estimated $18.5 million. Union Maritime Limited (UML) currently boasts a fleet of 20 tankers. Moreover, in 2023, Union Maritime Limited (UML) committed to the construction of 10 chemical tankers at three distinct shipyards in China. 23-April-2023
London-based shipowner and operator Union Maritime Limited (UML) sold 2020 built ultramax bulk carrier 63K DWT MV Springfield to New York Stock Exchange (NYSE) listed Connecticut-based shipowner and operator Eagle Bulk Shipping (EGLE). Union Maritime Limited (UML) sold 2020 built ultramax bulk carrier 63K DWT MV Springfield for around $30 million. MV Springfield was built at Cosco Shipping. Currently, New York Stock Exchange (NYSE) listed Connecticut-based shipowner and operator Eagle Bulk Shipping (EGLE) owns and operates 54 bulk carriers total, and 48 bulk carriers are scrubber-fitted. London-based shipowner and operator Union Maritime Limited (UML) will deliver the ultramax bulk carrier MV Springfield to Eagle Bulk Shipping (EGLE) upon completion of its current charter in Q2 2023. 14-February-2023
London-based shipowner and operator Union Maritime Limited (UML) has entered into a contract with Hyundai Heavy Industries for the construction of two LPG-powered 91,000 cubic meter Very Large Gas Carriers (VLGCs). This agreement by Union Maritime Limited (UML) includes a confirmed order for one ship with the option to order an additional one. Each of these LPG-powered Very Large Gas Carriers (VLGCs) is priced at $79 million, with their delivery expected in 2022. This move signifies Union Maritime Limited’s (UML) inaugural foray into the LPG carrier segment. Union Maritime Limited (UML), a London-based entity, currently manages a diverse fleet consisting of 49 tankers, four bulk carriers, and three offshore vessels. 23-March-2020
The crew members kidnapped from the Marshall Islands-flagged chemical tanker MT Duke, which is owned by the London-based Union Maritime Limited (UML), last month, have been freed, but tragically, one crew member passed away shortly after the kidnapping. “After the assault on the tanker MT Duke and the kidnapping of 20 of its crew on December 15, we are relieved to announce that 19 of the hostages have been liberated by the pirates holding them. Unfortunately, we must also report the sorrowful news that a valued crew member, an Able Seaman, became ill and succumbed to his illness shortly after being taken,” stated Union Maritime Limited (UML) along with V.Ships Management. The incident occurred as the MT Duke was navigating from Luanda to Lome in Togo, a region in West Africa that has seen a spike in pirate attacks recently. The 20 crew members of the MT Duke, managed by Union Maritime Limited (UML), who were kidnapped are all citizens of India, except for a single Nigerian cadet who remained on board. 18-January-2020
The MTM Group, headquartered in Singapore and specializing in shipowning and operating, has completed the purchase of two product tankers from the London-based Union Maritime Limited (UML) through a block deal. The MTM Group has taken ownership of the two vessels, the 2004-built 51K DWT tankers MT Lincoln and MT Chase, each at a cost of $11 million. This transaction comes on the heels of the MTM Group’s previous acquisition of the 51K DWT tanker MT Energy Protector from Enterprises Shipping and Trading in September. Presently, the MTM Group boasts a diverse fleet of 37 ships, comprising 14 bulkers and 23 tankers, with an additional two vessels under construction at Shin Kurushima. 28-October-2019
The London-based Union Maritime Limited (UML), a prominent shipowning and operating company, has successfully purchased the 2010-built Japanese MR2 tanker, MT Eagle Express. For this acquisition, Union Maritime Limited (UML) has disbursed approximately $16.5 million to Chiba Shipping of Japan. With this latest addition, Union Maritime Limited (UML)’s collection of MR2 tankers expands to 14, within a broader fleet of 41 tankers. This transaction signifies Chiba Shipping’s departure from the tanker industry, leaving it with a diverse fleet consisting of 20 bulk carriers of various dimensions and a single feeder containership. 28-July-2019
The London-headquartered Union Maritime Limited (UML) has entered into a construction agreement with Cosco Shipping Heavy Industry (CSHI) for the building of up to four aframax tankers, each with a deadweight of 113K DWT. The deal secured by Union Maritime Limited (UML) includes a guaranteed order for two aframax tankers, with the option to commission two additional vessels. These aframax tankers are set to be constructed at the Zhoushan Shipyard, operated by Cosco Shipping Heavy Industry (CSHI), with the inaugural tanker slated for delivery in the fourth quarter of 2020. Presently, Union Maritime Limited (UML) boasts ownership of a diverse fleet of 44 vessels, which encompasses 41 tankers, a single bulker, and two Offshore Support Vessels (OSVs). In addition, Union Maritime Limited (UML) is anticipating the completion of three ultramax bulk carriers, currently under construction at the Yangzhou Shipyard, also managed by Cosco Shipping Heavy Industry (CSHI). 10-July-2019
London-based shipowner and operator Union Maritime Limited (UML) sold 2005 built panamax bulk carrier 76K DWT MV Harrow (ex MV Red Queen) for around $9 million. London-based shipowner and operator Union Maritime Limited (UML) has secured a healthy profit from the sale of MV Harrow (ex MV Red Queen) which was a good asset play. In 2016, Union Maritime Limited (UML) acquired MV Harrow (ex MV Red Queen) when the bulk carrier market bottomed out. Union Maritime Limited (UML) made around 40% profit on the 2005 built panamax bulk carrier 76K DWT MV Harrow (ex MV Red Queen). In 2016, Union Maritime Limited (UML) acquired MV Harrow (ex MV Red Queen) from Japanese shipowner Toyo Kaiun. MV Harrow (ex MV Red Queen) is due for SS (special survey) in February 2020. In 2018, London-based shipowner and operator Union Maritime Limited (UML) made a similar asset play. Union Maritime Limited (UML) sold 2008 built supramax bulk carrier 58K DWT MV Albion for around $14 million to Thoresen Shipping. In 2016, Union Maritime Limited (UML) acquired MV Albion for around $9 million. In September 2018, Union Maritime Limited (UML) acquired five (5) aframax tankers from BP Shipping. In January 2018, London-based shipowner and operator Union Maritime Limited (UML) acquired 2005 built 105K DWT MT Bryanston (ex MT Phoenix Dream) for around $13.5 million. Union Maritime Limited (UML) has three (3) ultramax bulk carrier newbuildings at Cosco Heavy Industry. London-based shipowner and operator Union Maritime Limited (UML) will take the delivery of three (3) ultramax bulk carrier newbuildings in 2020. Union Maritime Limited (UML) will be paying around $24.5 million for each ultramax bulk carrier newbuilding. Currently, London-based shipowner and operator Union Maritime Limited (UML) owns and operates a mixed fleet of 40 ships. 26-May-2019
London-based shipowner and operator Union Maritime Limited (UML) has acquired 2004-built aframax tanker MT HS Tosca from Hansa Treuhand for around $13.5 million. In September 2018, Union Maritime Limited (UML) did a deal with BP to buy eight aframax tankers. The en bloc deal fell through, but the Union Maritime Limited (UML) still managed to pick up three of the tankers: MT British Cormorant, MT British Gannet and MT British Robin. MT HS Tosco will become the fifth aframax tanker in the Union Maritime Limited (UML) fleet. 7-November-2018
London-based Union Maritime Limited (UML) has successfully sold its supramax bulk carrier MV Frognal Play (formerly MV Topflight) for approximately $10 million, securing a profit of $2 million within a span of 18 months. Originally acquired in April 2017 for $8 million, the Tsuneishi Cebu-constructed 52K DWT MV Frognal Play marks Union Maritime Limited’s (UML) second supramax bulk carrier sale in 2018. The initial sale involved the 58K DWT MV Albion (constructed in 2008), which was purchased by Thoresen Thai Agencies for roughly $14 million during the third quarter of 2018, having been acquired by Union Maritime Limited (UML) for just under $9 million. This recent transaction signals Union Maritime Limited’s (UML) departure from the supramax bulk carrier market, leaving the company with a single bulk carrier, the 76K DWT panamax MV Harrow. Union Maritime Limited (UML) has been notably dynamic in the tanker industry, incorporating five MR tankers into its fleet in 2017 and adding five vintage aframax tankers in 2018. Established in 2006 by Managing Director Laurent Cadji, Union Maritime Limited (UML) is recognized as one of the rapidly expanding tanker operators based in London. 27-October-2018
The shipowning and operating firm based in London, Union Maritime Limited (UML), is expanding its bulk carrier segment by ordering two, with an option for a third, 63K DWT ultramax bulk carriers from Cosco Shipping Heavy Industry, the shipbuilding division of China Cosco Shipping. These ultramax bulk carriers will be built at the Yangzhou Shipyard of Cosco Shipping Heavy Industry, previously known as the Jiangsu Shipyard of China Shipping Industry. Discussions are underway between Union Maritime Limited (UML) and Cosco Shipping Heavy Industry’s Yangzhou Shipyard to establish a long-term strategic partnership for additional newbuild projects in the coming years. Presently, Union Maritime Limited (UML) manages a diversified fleet consisting of 33 tankers and 3 bulk carriers. 11-February-2018
The shipowner and operator based in India, Seven Islands, has successfully purchased the 46K DWT tanker MT MR Ashland (constructed in 2000) from Union Maritime Limited (UML), a London-based shipowning and operating company. This acquisition by Seven Islands was promptly executed to fulfill the requirements of a newly secured contract with the Indian Oil Corporation (IOC). Consequently, MT MR Ashland is slated to be employed under a two-year time charter contract with the Indian Oil Corporation (IOC). This transaction marks the third occasion in recent years that Seven Islands, an Indian firm, and Union Maritime Limited (UML), a British entity, have engaged in business dealings, with Seven Islands having previously acquired two older MR tankers from Union Maritime Limited (UML). As a company dedicated solely to the tanker industry, Seven Islands boasts a fleet comprising 12 tankers. 29-January-2018
The shipowning and operating company based in London, Union Maritime Limited (UML), has reported a loss of communication with its oil products tanker, the MT Barrett, built in 2005 and anchored off the coast of Benin in West Africa. There has been no contact with the MT Barrett since Tuesday, and Union Maritime Limited (UML) notified the local maritime authorities on the following day. The most recent Automatic Identification System (AIS) signal from the oil products tanker managed by Union Maritime Limited (UML), the MT Barrett, was recorded on Tuesday at 2:47 am, indicating its location anchored off Cotonou. Union Maritime Limited (UML) is actively engaged in efforts to establish the whereabouts of the MT Barrett, with the company’s utmost priority being the wellbeing and safety of the 22 crew members aboard. 11-January-2018
While primarily recognized for its tanker operations, Union Maritime Limited (UML) is steadily making its mark in the dry bulk sector. Recently, Cargill agreed to charter Union Maritime Limited’s (UML) panamax bulk carrier, MV Harrow, set for delivery on the east coast of South America later in February. Despite the predominance of tankers within its fleet, Union Maritime Limited (UML) has been expanding its dry bulk carrier lineup, which now features two handysize bulk carriers in addition to the panamax bulk carrier MV Harrow, acquired from Japan in the fourth quarter of 2016. Union Maritime Limited (UML) is led by CEO Laurent Cadji, who previously traded for Morgan Stanley in Morocco, and the company is under the ownership of Nigerian-Indian entities. 7-February-2017