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2017-03-07

Oman Shipping Buying 10 Tankers

Oman Shipping Buying 10 Tankers

Reuters is reporting that Oman Shipping Company (OSC) has secured USD 227 million in debt to finance the purchase of ten tankers.

Structured as a combination of commercial debt and export credit agency financing, the 12-year loan covers the acquisition of 50,000 dwt medium-range tankers built by South Korea's Hyundai Heavy Industries.

According to Reuters, the deal was arranged and underwritten by Societe General.

2017-03-06

Mega Ships are Welcome in Manila Port

Mega Ships are Welcome in Manila Port

MICT (Manila International Container Terminal) is getting ready to operate world's largest containerships by expanding port's capacity. 5 post-Panamax giant cranes and 20 rubber tired gantry cranesare to be installed at the port by 2019. The equipment was ordered from  International Container Terminal Services Inc. (ICTSI) and the whole expansion program will cost to Manila port around USD 80 million. The impulse for such a step forward was reaching 2 million TEU mark in port's operation last year, and now the Philippine Ports Authority (PPA) is looking straight ahead to raise intra-Asia trade volumes.

 

2017-03-03

Maersk Antares at the Chilean terminal

Maersk Antares, Danish PostPanamax containership, arrived to the Chilean terminal, San Vicente Terminal Internacional (SVTI) on February 28​ with cargo ​more than 9000 TEU. 

The vessel was built in 2007 by South Korean shipbuilder Samsung Heavy Industries, and it has 338 m of length and 45,5 m of width.

According to SVTI’s CEO, Eduardo Gonzalez​ that was a historical arrival of the vessel with the largest capacity welcomed on the new berth, inaugurated last year. 

​As per CEO, ​the new berth enlarged the terminal capacity by 40 %.

2017-03-01

​N​o more Maersk vessels calls in Algeciras for now

​N​o more Maersk vessels calls in Algeciras for now

The royal decree on the new port system reform, approved by Spain on February 24th caused increasing massive protests in every Spain port. The reason is the enabling by authorities the hiring of non-unionized workers instead of the unionized ones. As it was announced, the stage strikes are planned on March 6, 8, 10, 13, 15, 17, 20, 22 and 24. The Danish shipping giant Maersk reacted immediately and cancelled its vessels calls in Algeciras port. As per the line these strikes will cause a big impact on cargo flow, as the Spanish port is one of the biggest transshipment points on the way to Europe and Africa. During the strike period the line will be using alternative Mediterranean European ports. As a temporary exception, Algeciras ports will be still used for eastbound transshipment connections.

2017-02-27

Higher Q4 Earnings for Teekay LNG

Higher Q4 Earnings for Teekay LNG

Bermuda-based Teekay LNG Partners saw its net income rise from USD 77.1 million to USD 91.4 million in the fourth quarter of 2016. 

“During the fourth quarter, the partnership continued to generate stable cash flows supported by a diversified portfolio of long-term contracts totaling approximately USD 12 billion in forward, contracted revenue and with a weighted average remaining contract length of 13 years,” Mark Kremin, President and CEO of Teekay Gas Group, stated. He also said that the company added about USD 80 million of liquidity.

Despite this year-end rise in income, Teekay’s full-year profit decreased from USD 217.5 million to 158 million compared to 2015.

Teekay LNG has a fleet of 84 liquefied natural gas carriers (59 owned vessels, 2 chartered-in vessels and 23 ordered newbuildings).

 

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