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Dynagas Partners Booked until 2021

Dynagas Partners Booked until 2021

Monaco-based natural gas carrier owner and operator Dynagas Partners has secured work for all of its six vessels until at least 2021.

Their entire fleet has been employed on long-term contracts with an average duration of ten years.   

Despite a strong LNG carrier market, the company reported weaker results. Net income for 2018 was USD 3.6 million, compared to USD 17.3 million in 2017. The reasons were extended charter contracts with lower rates, dry-docking and the increase in LIBOR.

According to CEO Tony Lauritzen: “Our reported earnings for the fourth quarter ended December 31, 2018 were in line with our expectations. We believe that our revenue backlog estimate of approximately USD 1.4 billion is driven in part by our dominant market share in the ownership and operation of ice class LNG carriers.”


COSCO Shipping launches ultra large container vessel

COSCO Shipping launches ultra large container vessel

China’s COSCO Shipping Lines launched its latest 19,000 TEU newbuilding on March 1 with a width of almost 60 meters and a length of 400 meters, the ultra-large container vessel is scheduled to join the fleet in June 2019.

Ordered in September 2015, the unit has a nominal capacity of 19,273 TEUs.

The COSCO Shipping Aquarius, valued more than 128 million dollars.
It's the fourth company’s unit that was built by China’s Nantong COSCO KHI.
The three previous vessels from the batch, namely COSCO Shipping Aries, COSCO Shipping Leo and COSCO Shipping Capricorn, were delivered from NACKS in January, April and July of 2018, respectively.


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NYK, MTI and JMS joint venture

NYK, MTI and JMS joint venture

Japanese shipping company NYK has, together with Monohakobi Technology Institute (MTI) and Japan Marine Science (JMS), developed a system that will support vessel berthing.

The system, currently,  is on patent pending status but is expected to assess a vessel’s controllability and visualizes the risk in the berthing operation in order to reduce the burden on the operator and eliminate accidents caused by human factors.

The technology used in this system is expected to be installed to the automatic shore-arriving system for manned autonomous ships that the NYK Group has been working to implement.

The software will evaluate a ship’s controllability and visualize accident risks in real time by analyzing information of many factors such as distance to the wharf, ship speed, ship-performance parameters, tugboat arrangement, and weather data.

The ship operator will be able to use a tablet to confirm the relative position and approach speed of the vessel and assess accident risk.

This will reduce the burden ship operator is facing and prevent berthing accidents by alerting of risks to prevent accidents caused by misjudgment.


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