DAILY COLLECTION OF MAR ITIME PRESS CLIPPINGS 2014 –...

DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2014 – 033

Distribution : daily to 28400+ active addresses 02-02-2014 Page 1

Number 033 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Sunday 02-02-2014 News reports received from readers and Internet News articles copied from various news sites.

The TAI AN KOU transported Semi-Submersible maintenance rig BETA to Rio de Janeiro – Photo : COSCOL ©

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EVENTS, INCIDENTS & OPERATIONS

Atlantica Tender Drilling semi-submersible BETA was recently safely unloaded by means of the float-of method from the deck of the COSCOL’s semi-submersible heavy transport vessel TAI AN KOU in Rio De Janeiro. The BETA with a total weight of around 15,000 ton and an overall height of 68 meter was transported from Dalian (China) to Rio De Janeiro. For the TAI AN KOU the BETA was her heaviest cargo she has ever carried on board.

Photo : Nigel Groves ©

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Ship Rates Have Biggest Monthly Slump in Two Years on Iron Ore

The cost of hiring the largest commodity carriers had its biggest monthly plunge in two years amid speculation traders are delaying purchases of iron ore in anticipation of the steelmaking raw material’s price falling.

Rates for Capesizes transporting at least 150,000 metric tons of iron ore and coal slumped 2 percent to $8,263 a day, taking the January decline to 79 percent, according to data from the Baltic Exchange in London today. The slump is the most since the same month in 2012. The Baltic Dry Index, a wider measure of freight costs spanning smaller ships, slid 51 percent, also the most in two years.

Ore with 62 percent iron content has fallen 8.6 percent to $124.30 a dry metric ton this year, according to data from the Steel Index. Some traders may be deferring purchases in anticipation of further declines, James Leake, research director at Arrow Shipbrokers in London, said by phone today. The commodity is the biggest source of demand for dry-bulk ships, accounting for about 1.27 billion tons a year of cargo, according to Clarkson Plc, the largest shipbroker.

“The speculative traders are probably holding back, waiting until the price stabilizes at what they imagine to be a lower level until they start buying in volume again,” Leake said by phone. That’s added to vessel supply, lowering rates, he said.

China imported 820 million tons of iron ore last year, making it the world’s largest importer. Australia was the biggest supplier, followed by Brazil. Voyage rates to China from Australia tumbled 45 percent this month, the most since October 2008, according to the Baltic Exchange. Source: Bloomberg

Crash conundrum solved A DFDS ferry smashed into a UK berth after a propulsion back-up button was accidentally pressed, an accident report has revealed. The 22,400–gt Sirena Seaways (built 2002) made heavy contact at Harwich on 22 June last year, causing "considerable damage" to the fore-end of the vessel. The linkspan at the port collapsed into the water and supporting structures were severely damaged. Photo : Andrew Moors ©

The UK Marine Accident Investigation Branch (MAIB) said propulsion control records showed the starboard system remained set at about 63%

ahead throughout the incident. No defects were found and it was "considered most likely" that the button to activate the back-up control system for the starboard propulsion system was "inadvertently pressed" during the early stages of the entry into the port, MAIB found. This bypassed normal control and was not noticed by the crew.

The systems was still operating at 63% ahead for two hours after the collision, hampering attempts to pull the vessel from the damaged berth. Recommendations have been made to DFDS to review the need for regular bridge and crew resource management training. Source : Tradewinds

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Club de Ruyter Singapore NEDERLANDSE MARITIEME LUNCH IN SINGAPORE

Via deze weg willen wij de “Maritieme” Nederlands of Vlaams sprekenden in en

rond Singapore uitnodigen voor deze lunch, wat tevens een uitstekende plaats is om te netwerken, en kennis te maken met andere

Nederlands sprekenden uit de industrie

De lunch word gehouden in de TRADEWINDS BAR van de :

Hollandse Club in Singapore op vrijdag 7 februari 2014 tussen 12:00 en 14:00 uur

Deze lunch wordt u aangeboden door :

LONDON OFFSHORE CONSULTANTS

LOC is an independent marine and engineering consultancy and survey organisation, providing high quality services to the shipping and offshore energy industries. LOC was established in London in 1979. Since then, we have developed into an international, multi-disciplinary organisation, with offices across the world. The LOC team now comprises over 300 professionally qualified personnel.

Our People, Our Independence, Our Reputation

These are LOC’s most important assets. LOC’s continued success is due to our exceptional personnel and their commitment to our clients’ best interests. The team works with integrity, professionalism and dedication – core attributes that underpin everything they do.

Als U van plan bent vrijdag aanwezig te zijn, gelieve even een mailtje te sturen naar [email protected] zodat wij er rekening mee kunnen houden voor hoeveel personen er nasi

goreng en sate gemaakt moet worden.




Aframaxes show increased volatility, but could still be the way to go

As has been the case with many ship classes, both in the tanker and the dry bulk segment, Aframax tankers have been on a rollercoaster ride for the past few weeks. In a recent report, analysts Poten & Partners said that "although freight rates are falling precipitously, recent volatility suggests that this market may still have a heartbeat yet. For the majority of the past few years, spot Aframax time charter equivalents (TCEs) have bumbled along at lackluster levels save for the occasional rate spike here or there. In addition, waning demand on stalwart trades, such as the Caribbean to US Gulf, have called into question broader fundamentals for this tanker sector. While the recent run-up in spot market rates may ultimately prove to be short-lived, it brings to light a tanker asset class that has been largely overshadowed by its bigger sisters in recent years", Poten noted.

It added that "the Aframax sector has long-been a darling of the oil companies. Its prefix “AFRA” is derived from a historical convention from the 1970s by which oil company shipping groups could allocate transportation costs in a transparent (read: taxable) manner. The industry relied on Average Freight Rate Asessments (AFRA) issued by a panel of London tanker brokers in order to minimize internal distpute. The original deadweight (DWT) designations as prescribed by the AFRA system, shown in the following table, suggested the oil company shipping groups could “maximize” the rates charged to their affiliates if they were to use vessels with a 79,999 DWT load lines".

According to Poten, "over time, like all other tanker sectors, the deadweight designation has evolved to its current range of 80,000 – 130,000 tons. Although the role of Aframaxes within the fleet composition may have changed somewhat over the past decade, it remains a significant percentage of the overall make-up for these tanker market powerhouses. It can be certain that infrastructure and port limitations, as well as lingering legacy commercial considerations, have solidified the role of Aframaxes in these key trading programs", it stated in its analysis.

Meanwhile, "the recent volatility in spot market rates suggests that the balance between supply and demand for Aframaxes could be more constrained. Most recently, delays in the US Gulf due to weather, restricted daylight hours in the Bosphorus, and trans-Atlantic efforts to satiate demand in Europe resulted in upward pressure on freight rates. While these catalysts can resolve over a period of several weeks, the striking impact on rates could highlight the need for incremental supply", Poten said.

It concluded its analysis by mentioning that "looking forward, the discussion for new crude oil exports hinges largely on new projects in Canada and the uncertainty of exports from the United States. If and when infrastructure and political whims enable crude oil movements from these major producers, the vessel of choice could likely be Aframaxes". Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide

31-01-2014 : bulker ALSTER BAY downbound on the Fraser river Photo : Robert Etchell ©



Dry Bulk Shipping Rates Crash the Most in 30 Years. Market Freakout?

The Baltic Dry Index is now down 48% since the start of the new year. While a rate drop-off in the new year is typical because the Chinese New Year decreases demand in the world's largest economy, what is uncommon here is the magnitude of this drop. An article from Zerohedge points out that this is the biggest drop in 30 years for this part of the year, though even after the drop, rates are still 50% higher than they were at this point last year. In this video, Motley Fool industrials analyst Blake Bos looks at how this is affecting dry bulk shipping companies, such as DryShips and Genco Shipping . With the enormous amount of debt that companies in this industry typically carry, many investors are worried that the companies won't be able to remain in business with rates at these levels, and the stocks look to be selling off as a result. Blake also mentions that shipping rates do tend to rebound going into the summer, so for these shipping companies, it's vital that the rebound is a strong one. Various pundits are calling for a shipping-rates rebound in 2014, though Blake is less optimistic and still sees a lot of rough seas ahead for these companies. Source: Motley Fool

Star Bulk Announces the Acquisition of Two Modern Post-Panamax Vessels

With Employment Contracts Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, today announced that it has entered into binding agreements to acquire two modern Post-Panamax bulk carriers, the M/V "GL Qushan" and the M/V "GL Daishan," from an unaffiliated third party for a total consideration of $60.0 million.

Each of the vessels has a carrying capacity of approximately 98,000 deadweight tons and is expected to be capable of transiting the Panama Canal upon its scheduled expansion. The vessels were delivered to their present owners by Tsuneisi Group Shipbuilding Inc. in October and August of 2011, respectively.

The vessels, to be renamed "Star Vega" and "Star Sirius," are expected to be delivered to Star Bulk by the middle of February 2014 and early March of 2014, respectively. Upon their delivery, the Star Vega and the Star Sirius are scheduled to be chartered back to the seller for a period between 30 months to 34 months and between 27 months to 31 months, respectively, each at a gross daily rate of $15,000 less an address commission of 1.25% on gross revenues. The vessels are expected to generate approximately $13.4 and $12.1 million respectively in charter revenue over the minimum contract periods.

Star Bulk also announced that it had executed a binding term sheet with Deutsche Bank AG for a new 7-year senior secured credit facility of up to $39.0 million that will be used to partially finance the acquisition of the Star Sirius and the Star Vega. Entry into this senior secured credit facility is subject to execution of customary definitive documentation for financing transactions of this nature.

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Upon the completion of the acquisition of the Star Sirius and the Star Vega, Star Bulk will own 17 dry bulk vessels, consisting of five Capesize, two Post-Panamax, two Ultramax and eight Supramax vessels with average age of approximately 8.8 years.

In addition, Star Bulk has contracts for the construction of an additional nine vessels at high quality shipyards in Japan and China, including three Newcastlemax, two Capesize and four Ultramax vessels with fuel-efficient specifications with expected deliveries in 2015 and early 2016.

Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Select Market under the symbol "SBLK." Following the delivery of the two newly acquired vessels, Star Bulk will own a fleet of seventeen dry bulk carriers consisting of five Capesize, two Post Panamax, two Ultramax and eight Supramax dry bulk vessels with a combined cargo carrying capacity of approximately 1,609,519 deadweight tons (dwt) and an average age of approximately 8.8 years. In addition, Star Bulk provides vessel management services to ten third-party dry bulk vessels, including five Capesize, two Panamax and three Supramax vessels. Star Bulk has also entered into agreements for the construction of nine fuel efficient dry bulk vessels, including three Newcastlemax vessels, two Capesize vessels and four Ultramax vessels, with a combined cargo carrying capacity of 1,227,000 deadweight tons. All of the newbuilding vessels are expected to be delivered during 2015 and 2016. Source: Star Bulk Carriers

Iskes tugs SATURNUS and GINGER assisting the SEZAI SELAH into the IJmuiden Locks

Photo : Marcel Coster ©

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The HAVILA FORTRESS anchored off Rio de Janeiro – Photo : Sjouke Bierma ©

Is This the End for Genco Shipping & Trading?

In just two months and one week, Genco Shipping & Trading will be officially out of time and in default with its creditors, unless they show the struggling dry shipper some mercy. While others in the industry, such as DryShips , have been able to successfully stave off having their debt holders pull the plug, the clock is quickly ticking away while Genco remains silent.

The debt situation According to Genco's SEC filings: "In the current drybulk rate environment, we anticipate it is probable that we will be unable to make required payments under our credit facilities commencing March 31, 2014 unless we obtain modifications to or waivers of the terms of these facilities."

That was filed on Nov. 8, 2013. So far in 2014, the spot rate environment has collapsed. Genco Shipping & Trading operates its ships almost exclusively based on the spot rate market which means its cash flow and gross profits per voyage have been in a tailspin so far this year. This is a terrible situation for Genco to be in while it hopes for leniency from its creditors. Genco has been in discussions with its lenders for quite some time without even so much as a hint to the public that those discussions are going well. The company warns that failure to win waivers could mean that "some or all of the Company's indebtedness could be declared immediately due and payable, and alternative sources of financing would need to be sought on terms that may not be favorable to the Company." That's likely a fancy way of saying that either very ugly dilution or outright bankruptcy could wipe out its shareholders.

Clues For the last few quarterly earnings reports and conference calls, Genco initially offered no information whatsoever on this situation until pressed during the question and answer sessions. During the last call, Genco did the usual tap dance around any questions at first, but Chairman Peter C. Georgiopoulos finally warned that lenders in the industry are "still conservative." This suggests, that at least as of November, one or more lenders were not showing encouraging signs of bending.

CFO John C. Wobensmith made comments that suggested he was blaming some of the banks themselves, stating that they had their own balance sheet issues. This implies that some of them may not be in strong enough financial shape themselves to afford being cooperative.

To make matters worse, due to the uncertainty surrounding Genco's near-term financial situation, the company is unable either to raise money via the equity route or buy additional ships that could potentially improve its ongoing cash flow.

DryShips gives hope? The bullish case takes into account that DryShips' lenders were able to grant it some leniency, so perhaps the same could happen with Genco. Lenders don't tend to want to own complex assets such as dry ships if they can avoid it,



especially if their clients are able to make some sort of substantial payments on a continuous basis. For DryShips, the lenders agreed to relax some of its financial covenants until the end of 2014. In DryShips most recent quarterly filing it stated: "Management expects that the lenders will not demand payment of the loans before their maturity, provided that the Company pays scheduled loan installments and accumulated or accrued interest as they fall due under the existing credit facilities. Management plans to settle the loan interest and scheduled loan repayments with cash expected to be generated from operations and from financing activities." So far, though, there has been no indication that Genco will get similar aid. Also, DryShips has additional, substantial equity assets as backing, which is something that Genco doesn't have.

Foolish final thoughts While it seems to be common sense that lenders won't kill a company that is making regular payments, stranger things have happened. Genco's current silence is far from encouraging, and the mere right to foreclosure by its lenders should be enough to give any Fool at least some pause. Remember that lenders are humans too and don't always make decisions in the most rational way. Keep a close eye on the filings and press releases for any informative hints about the debt situation.

Speaking of banks... do you hate your bank? If you're like most Americans, chances are good that you answered yes to that question. While that's not great news for consumers, it certainly creates opportunity for savvy investors. That's because there's a brand new company that's revolutionizing banking, and is poised to kill the hated traditional bricks-and-mortar banking model. And amazingly, despite its rapid growth, this company is still flying under the radar of Wall Street. Source: Motley Fool

The SEADREAM arriving in Cape Town during her maiden voyage – Photo : Ian Shiffman ©

Hapag-Lloyd and CSAV: Jilted or joined at the altar?

As well as the usual questions on whether Hapag-Lloyd will actually tie the knot this time, one has to wonder: how long before a company of two becomes a crowd of three?

Compañía Sud Americana de Vapores (CSAV) and Hapag-Lloyd were engaged last week with the signing of a non-binding memorandum of understanding (MoU), bringing talks to a level Hapag-Lloyd has not managed to reach in its 15 or so years of looking for a partner.

Quite whether the Germans are ready for the commitment could be questioned, after Hapag-Lloyd's chairman Juergen Weber suggested that Hamburg Süd should join in the talks.

"The three of us would be stronger together," Weber was quoted as saying by a German newspaper in December. Few could accuse him of being greedy, it's estimated $16 was lost per teu from 2008-2012 by the top 20 lines. Competition from the big three, Maersk, CMA CGM and MSC is cutthroat and economies of scale work well in the container industry, the merger would bring about $300m in synergies.

No comment on the Hamburg Süd suggestion came from CSAV, but it must be aware that becoming the world's fourth largest line with a 1m teu capacity, carrying 7.5m teu per annum and generating sales of $12bn is not enough for Hapag-Lloyd. Indeed while the combination of CSAV and Hapag-Lloyd would create the world's fourth largest container line it would still only have a 5.6% share of global capacity according to consultants Alphaliner. Despite getting its long



standing wish of an IPO, within 12 months of the transaction closing according to the MoU, Hapag-Lloyd's chairman at least still has eyes for further consolidation. Even though Hamburg Süd does not seem to have come to the table, perhaps dismayed from its own recent failed talks with Hapag-Lloyd, there's another name in Hapag Lloyd's black book.

Before Hapag-Lloyd and Hamburg Süd failed to get their parents' blessings last year, Hapag-Lloyd shareholder Klaus Michael Kuhne stated his support for the eventual involvement of a third party from the East in that deal. Given Kuhne's fondness for Neptune Orient Lines (NOL) and his position as a controlling party in the merged entity, alongside the City of Hamburg and CSAV within the terms of the MoU, Hapag-Lloyd may well cast its eyes to Singapore for further consolidation. This is all speculation of course, the CSAV Hapag-Lloyd deal still needs to make its way through relevant authorities, funds need to be raised, due diligence needs to be done, pre-nuptials signed and then no doubt the lawyers will stretch things out for a while. The outcome of the MoU should be clear within the next six months, but the real prospect of further consolidation will hang over the Hapag-Lloyd that emerges from any deal. Another courtship so soon after a merger would no doubt be complex with combination for example of German, Latin American and Asian business cultures a difficult one to bring together. Source: Seatrade Global

Poor Container Packing Costing Industry Millions

Analysis by specialist transport and logistics insurer TT Club has revealed that as many as two thirds of accidents that involve the loss of, or damage to, containerised cargo are thought to be caused by poor or improper packing and securing. Such a finding is echoed by the ocean carriers’ Cargo Incident Notification System (CINS), where a third of incidents investigated were found to have this cause. The loss to the industry is substantial, resulting in direct expense, operational disruption and management distraction, not to mention litigation or insurance costs. The TT Club’s claims history is strewn with incidents that indicate inadequate awareness of the dynamic forces that can be encountered during intermodal transport, in addition to lack of consideration of the consequences of inappropriate load distribution within the CTU. However, since the modern container typically passes through so many handling processes during its journey, it can be difficult to pinpoint liability for an incident, even where poor packing is suspected.

“It is no surprise that the correct packing of containers is high on the agenda for industry bodies, regulators and insurers, as the consequences of unsafe and badly secured cargo are serious. It is important to take account not only of financial losses but also in too many cases serious bodily injury to operators, and even death”, says TT Club’s Risk Management Director, Peregrine Storrs-Fox. “Increased levels of training to maintain and improve the expertise of those employed by shippers, consolidators, warehouses and depots to pack containers and other transport units is now essential”, he continues. “This is why TT Club has commissioned the expert e-learning course designer Exis Technologies to develop the CTUpack e-learningTM course”.

The CTUpack e-learning™ course is an online training tool for those involved in the packing and unpacking of cargo transport units (CTU), comprising freight containers, swap bodies, trailers and suchlike used in intermodal transport. The first release of CTUpack is a foundation level course, which is being launched today. The course modules focus on

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the topics of cargo, transport, packing and arrival. There are lessons on the issues most relevant to container packers, including forces and stresses encountered during transport, and how these need careful consideration when packing and securing cargo in a CTU. Students are assessed continuously through the course and receive a course completion certificate which records their final score. The e-learning course is accessed via the web and is available for individual training or for national, regional or global company training programs., Multiple courses are managed using Exis Technologies’ e-learning management system, which provides administrator functions for setting up courses and monitoring students’ records.

The aim of the course is to focus industry attention on the significant and dangerous implications of bad packing and provide guidance consistent with current good practice. The course takes account of the recent revisions to the ILO/IMO/UNECE* Guidelines, anticipated to be approved as a non-mandatory, but enforceable, Code of Practice later this year. The CTUpack e-learning™ will evolve to reflect any further changes to the UN documents and other industry good practice guidance. Storrs-Fox concludes, “CTUpack e-learning follows the well-established IMDG Code e-learning training course from Exis, which is also sponsored by TT Club. Both courses fit closely with the risk management approach that the Club has always fostered among the global freight transport community. As in other operational sectors of the industry, training is clearly the number one loss prevention measure and, if adopted as a core feature of the operator's culture, can greatly reduce the number of incidents incurred globally each year throughout the industry.” CTUpack e-learning™ can be purchased directly from www.ctupack.com. There are discounts for courses purchased in quantity. Source: TT Club

Caspian Sea , ASP , AHT CASPIAN ENDEAVOUR in the process of AH for the DB Azerbaijan.

Photo : BP/AIOC Marine Rep. Pieter C Holtes . ( o/b of the Supporter ) ©

Fendercare Marine provides STS support services for first

Gas Major LNG STS operations

• First open seas LNG STS operation for two of the world’s leading Gas Majors • Suppliers of personnel, and speciality mooring equipment including Yokohama Jumbo fenders • Evidence of Fendercare Marine’s commitment to LNG STS safety

Fendercare Marine, global leaders in Ship-to-Ship (STS) transfers and offshore marine services, has provided STS support services for the first open sea’s Liquefied Natural Gas (LNG) STS operations for two of the world’s leading Gas Majors. Fendercare Marine has carried out STS operations since 1995 and annually conduct almost 3,000 STS operations globally from over 45 STS locations across the world. The LNG STS operations were performed in the Eastern



Mediterranean with a number of 152,000 cm3 membrane tank Liquefied Natural Gas Carriers (LNGC), and most recently a 135,000 cm3 moss type carrier; all delivering cargo to one of Excelerate Energy’s 138,000 cm3 Floating Storage & Regasification Unit (FSRU). These were the first open sea LNG STS operations for either major. Fendercare Marine is the world's largest operator of genuine Yokohama brand pneumatic fenders and supplied Yokohama Jumbo fenders for the operations, in conjunction with additionally supplied ship-specific mooring equipment and a dedicated rigger to assist with the secure mooring and unmooring of the oil major LNGCs. Furthermore, two large ASD tugs provided assistance as well as guard duties ensuring the operations were extradited without interruption. Fendercare Marine facilitated sessions in their UK simulator to mirror the predicted sea states they would face which, in turn, provided the necessary feedback to assist in tailoring a mooring system to suit. Further simulator sessions allowed for extensive testing of various emergency break away situations. In addition to STS services, Fendercare Marine offers a turnkey service for the operation and management of onshore and offshore marine terminals, supplying pilotage and Mooring Master provision for tandem and CALM buoy berthing, CALM buoy inspection and maintenance, product supply, AHT provision & management, diving & ROV services, as well as hose management, supply and change out.

The SAGA PEARL II arriving in Cape Town – Photo : Aad Noorland ©

Queensland fisherman labels dredging decision a 'disaster'

A north Queensland fisherman says the decision to dump dredge spoil from the Abbot Point coal terminal in the Great Barrier Marine Park will seriously damage the local fishing industry.

Three million cubic metres of spoil must be dredged as part of the expansion of the major coal terminal at Bowen, North Queensland. The expansion was approved by Federal Environment Minister Greg Hunt, in December. The Great Barrier Reef Marine Park Authority (GBRMPA) has now approved a proposal to dump the spoil in the Park, 25

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kilometres offshore. Bowen fisherman Nathan Rynn says he has grave concerns about the approval, and its impact on the fisheries.

"We're the eyes of the ocean, we're out there every day," he said. "We don't have science degrees, us commercial fishers, but we know from our parents and grandparents who have passed this knowledge on for 100 years.

"We know what will happen after these sorts of events. "We've seen the effects of Gladstone. There was chance that this didn't have to happen." GBRMPA says there will be 47 conditions imposed on the dumping of spoil, which will minimise the impact on the environment. But Mr Rynn says he finds no comfort in those measures."Once it's in the ocean, there's no controlling it," he said. Source : ABC net

Donjon-SMIT and MSRC announce alliance

Donjon-SMIT and Marine Spill Response Corporation (MSRC) are pleased to announce the establishment of a cooperative alliance. This alliance, while it can support both tank and non-tank vessel owners, will include the ability of non-tank vessel

owners to establish their pre-arranged agreements with both Donjon-SMIT and MSRC, required under recent NTVRP regulations by January 30, 2014 through enrollment linkages on either company’s website, as well as cooperation between the two companies in the event of a spill response or salvage/firefighting incident, MSRC said in a press release.

While this cooperative alliance will facilitate and support customers of both organizations in operations as well as compliance with OPA-90, it is important to note that there is no exclusivity requiring customers of either organization to contract exclusively with the other. Both Donjon-SMIT and MSRC recognize that operational choices and relationships may impact decisions on OPA-90 contracting.

The Marine Spill Response Corporation is a not-for-profit, U.S. Coast Guard Classified Oil Spill Removal Organization (OSRO) formed in 1990 to offer oil spill response services and mitigate damage to the environment. MSRC provides marine oil and oil-related OPA 90 related spill response and clean-up services to organizations involved in the handling and transport of oil and other substances. An extensive inventory of response equipment in its arsenal is stored and maintained at MSRC's pre-positioned equipment sites across the U.S. MSRC's capabilities are augmented by its Spill Team Area Responders (STARs) contractor network. This nationwide network includes over 100 companies at over 200 locations. MSRC is funded exclusively by the Marine Preservation Association (MPA). MPA is comprised of companies operating in the petroleum, energy and related transportation industries. This includes many of the largest oil and gas companies, and their related shipping companies, in the world.

Donjon-SMIT is a unique provider of OPA-90 maritime vessel emergency response services in which the more than 200 years of corporate expertise of Donjon Marine and SMIT Salvage is combined. The joint venture provides marine salvage, lightering and firefighting services for compliance and response related to OPA-90 requirements. Source : PortNews

The EVER LOGIC approaching the Algeciras container terminal – Photo : Francis Ferro ©

Did tug crews win any bravery awards?



NO matter how small, craft on the River Tyne have often been called on to do big, brave jobs over the years. And their crews, of course. In that respect, do you know of tugboat crew members who have received medals or other awards for bravery, either in peace or war?

The inquiry has come to me from a reader but, on my own account, I’ve not been able to come up with any such instances, although I’m sure they must have occurred.

There are records of local vessels in the heat of action. In his book 150 Years of the Maltese Cross, author John Proud recalls the North Shields-based Crosthwaite tug, Joseph Crosthwaite, serving in the Dardanelles during the First World War, where she assisted in the evacuation from Clyde Beach at Gallipoli.

During the Second World War, two tugs, the Comet and the Hendon, fought a fire in a vessel, the Coity Castle, which saw the ship’s magazine

in danger of exploding; even though the vessel was moored between two others, the blaze was successfully extinguished. Earlier in the war, one of the tugs you see here, the George V, assisted in the beaching of the mined tanker, Atheltemplar. But whether any of these events merited official recognition, I can’t say. If you know of any medals or awards given to tugboatmen, do get in touch. Source : The Shields Gazette

Derelict tug boat towed out of Eagle Harbor

The derelict historic tugboat Chickamauga was towed by another tug out of Eagle Harbor Marina on Friday morning.

The boat — America’s first full diesel-powered tugboat when it was built in 1915 — was towed to Boat Haven Marina in Port Townsend. The 38-nautical-mile voyage was completed and the vessel hauled out by Friday afternoon, said Toni Weyman Droscher, DNR’s Aquatics Program communications manager.

On Thursday, divers and staff with Global Diving & Salvage of Seattle, under contract with DNR, prepared the boat for towing. “Hooray! We’ll probably have cheerleaders with pompoms to wave it goodbye,” said Doug Crow, harbormaster of Eagle Harbor Marina, of the news the tugboat would be towed away Friday. “It’s a major step in our history. Now I wish the (state) attorney general lots of luck prosecuting the owner for abandonment, pollution and stealing moorage from the marina.” Earlier this month, Chickamauga owner Anthony R. Smith was charged with three criminal counts from the state attorney general’s office. Smith’s abandoned boat sank Oct. 2, leaked about 400 gallons of petroleum and 10 gallons of lube oil in the waters of Eagle Harbor and was lifted by a crane Oct. 10.

Under the Derelict Vessels Act, DNR has the authority to take custody of a vessel if an owner allows it to become derelict or abandoned, which Smith allowed when he failed to pay moorage and utility fees for nearly a year. Those fees now total more than $9,000. Crow said Smith will likely pay an additional approximately $2,000 more to repair the marina’s finger pier that was damaged when the boat sank. Smith has until Feb. 18 to appeal Department of Natural Resources’ decision to take custody of the Chickamauga, which Smith bought in 2009 for $1,000. If no appeal is filed, DNR could put out a bid to dismantle or dispose of the boat.

DNR also is reviewing the boat’s historical significance and is taking inquiries from museums or historical preservation organizations who may be interested in Chickamauga, Weyman Droscher said. Well-known Poulsbo watercolor artists Sarah and Michael Yaeger, who in November painted the Chickamauga for their 2015 calendar, hope that someone or an organization will come forward to save the boat. It’s been estimated that the cost of restoration will reach at least $1 million.

“I would like to see a school like the one at Port Hadlock take it over and make it a project,” Michael Yaeger said. “I did see a big, old tugboat that someone restored right there (at Port Hadlock) that was in worse condition than the Chickamauga. It looked like a bag of bones and low and beyond it was restored. It’d be great to see this thing come alive. “She’s had 100 years and she doesn’t deserve this,” Yaeger added. In addition to what he owes the marina and in legal fees, Smith is also on the hook for the Coast Guard’s expenses in responding to the Chickamauga, which



total $140,000, and the Department of Ecology’s expenses for coordinating the spill cleanup with the Coast Guard, which total $2,000. Source : kitsapsun

OSPREY LOADS 3 INLAND WATER CRUISE VESSELS

In Rotterdam at the buoys in the Caland canal OHT’s OSPREY loaded the VIKING HERMOD, VIKING BURI and VIKING HEIMDAL upon completion of the seafastenings the OSPREY will depart for Fos-Sur-Mer

Photo’s : Jan Oosterboer ©

Gulf Navigation quits VLCC trades, sells tanker pair

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Financially struggling Gulf Navigation has confirmed it has sold two VLCCs. The Dubai owner sold the Gulf Sheba and Gulf Eyadah tankers to DHT Holdings for $98m. DHT will take delivery of the ships next month. The two vessels were arrested in September and October under the order of Gulf Navigation’s creditors, after the company defaulted on two of its term loans. Gulf Navigation announced last September its intention to sell its pair of VLCCs, with the company saying the sector was unlikely “to turn around in the near term”. Gulf Navigation’s massive restructuring continues as Dubai’s only tanker owner looks to avoid liquidation. Source : Gulf Ship News

The GREAT AMBITION discharging in Rotterdam-Waalhaven – Photo : Krijn Hamelink ©

CMA CGM deploys armed guards, calls Somalia

CMA CGM is expanding services to Somalia by extending its Middle East service Noura Express. Armed guards will be deployed on this risky service. The service, which started, connects at Khorfakkan.

Mathieu Friedberg, senior vice president, African lines at CMA CGM, explained: “We strongly believe in the recovery of the Somalian economy and are proud to launch the Noura Express, offering worldwide connections to and from Mogadishu. This is the first

milestone of our growth plan in this region and there will be more developments in the months ahead.” Source : GulfShip News

First International: Bankruptcies to continue

Maritime CEO is in Florida speaking with one of the best-known names in ship finance, Paul Slater whose prognosis for the industry is decidedly sobering. Ship finance for 2014 will continue to be “very stressful”, he warns, as most of the traditional commercial banks have withdrawn from shipping and alternative debt is very expensive.

“I expect more companies to go bankrupt or be broken up as the chronic overordering of new ships in container, dry bulk and tankers continues to depress freight markets,” he predicts. Ship finance veteran Slater founded First International in Bermuda in 1985 as a ship finance and leasing company following a similar previous company Oceanic Finance Corp that he had had established in 1976 and sold out of in 1981. Oceanic continues to trade today as Tufton Oceanic.

Today First International, based in Naples, Florida, provides consultancy and advisory services to shipowners and investors in both the shipping and energy industries.

“Our goals for 2014 are to stimulate activity in the ship leasing sector focusing on long-term contractual employment of ships as opposed to the highly risky short-term focus of the last 10 years,” Slater says. Feeling generous ahead of



the Chinese New Year, Maritime CEO gives Slater a metaphorical $200m to invest in shipping. He’s quick to find a way of spending this generous ‘Lai See’ packet.

“If I was given $200m in equity to spend on shipping I would add a further $800m of long-term tradeable debt and acquire ships to be chartered long-term to high quality end-users or cargo owners,” he says.

On the great story of ship finance for the last 18 months, namely private equity, Slater reckons this cash tap is coming to an end.

“I see private equity losing interest in shipping as they fail to achieve their projected yields in the short-term and are not there for the long-term,” he reckons, pointing out: Second-hand ship prices will not return to the levels of the last decade and the lack of shipping experience in most private equity firms will diminish their chances of success.”

All things considered, this ship finance expert has plenty of cautious advice for shipowners who reckon good times are finally coming. Source : Maritime CEO

Tall ship Mir arrives at Sochi to participate in Olympic events

Tall ship Mir, a training vessel of Admiral Makarov State University of Maritime and Inland Shipping has come today to port Sochi, one day ahead of schedule. As IAA PortNews was told at Commercial Seaport of Sochi OJSC, the Mir moored at the new passenger terminal of Shochi cruise harbour.

The tall ship left for Sochi on December 19, 2013. The vessel will participate in the events of the Winter Olympics 2014.

Later, Mir will take part in SCF Black Sea Tall Ships Regatta 2014, which will be held in the Black Sea in May 2014, for the first time in the history.

The tall ship Mir was built in 1987. It is a sailing school for the cadets of Admiral Makarov State University of Maritime and Inland Shipping as well as other educational institutions of Russia and foreign countries. Source : PortNews

NAVY NEWS

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Family and friends say goodbye as the Arleigh Burke-class guided-missile destroyer USS Donald Cook (DDG 75) departs. Donald Cook is underway enroute to Rota, Spain as the first of four Arleigh Burke-class guided-missile

destroyers to be stationed in Rota, Spain. Photo : US Navy

Royal Navy strengthens presence in Gibraltar

The Royal Navy has sent additional personnel to Gibraltar to strengthen its Gibraltar Squadron in response to Spanish maritime incursions into British territorial waters. The Gibraltar Squadron has increased from two to three crews – around 25 sailors in total – to enable 24-hour coverage, although the number of vessels they operate remains the same.

The decision to increase personnel was revealed in a response to a question in the House of Lords and came as Headquarters British Forces Gibraltar announced that the Royal Navy destroyer HMS Diamond was scheduled to arrive in Gibraltar on Sunday for a week-long visit.

The British frigate F 79 PORTLAND in Gibraltar last week – Photo: Francis Ferro ©

During its stay, the warship will conduct training off the Rock and will anchor in British waters in the Bay of Gibraltar at night. The British Government has so far ruled out deploying larger naval vessels permanently in Gibraltar but has said repeatedly that Royal Navy warships will continue to call regularly at the Rock.

The Gibraltar Squadron’s third crew was sent to Gibraltar late last year following a rise in the number of incursions by Spanish state vessels into British Gibraltar territorial waters.

“In response to an increased number of maritime incursions, we have deployed additional personnel to Gibraltar to enhance the response capability and resilience of the Royal Navy Gibraltar Squadron, increasing the number of crews



from two to three,” said Tory peer Lord Astor of Hever, Parliamentary Under Secretary of State and the Lords Spokesman on Defence.

“Larger Royal Navy ships will continue to visit Gibraltar regularly in relation to operational and training activity, reflecting its utility as a permanent joint operating base.” Lord Astor said the British Government was confident of British sovereignty over the whole of Gibraltar, including British Gibraltar Territorial Waters and took its responsibility for protecting that sovereignty “very seriously”.

He added: “All elements of the situation, including the maritime security capabilities available to the Royal Navy Gibraltar Squadron, are kept under review.” “Should it be necessary, we will provide additional assets to the Squadron or augment our broader maritime posture as necessary.” HMS Diamond arrives today in Gibraltar on Sunday for a week-long visit as she sets out on a six month operational deployment to the Gulf. “Whilst in Gibraltar she will carry out a number of maritime training exercises, during which she will anchor in the bay at night,” Headquarters British Forces said in a statement.

HMS Diamond is the third of six Type 45 air defence destroyers and is one of the most sophisticated warships in the world. The ship’s Commanding Officer, Commander Andy Ingham, said: “Whilst it has undoubtedly been difficult for us to say goodbye to our loved ones, myself and my crew are looking forward to the task in hand and doing what the Royal Navy does best – providing a resilient and adaptable UK military presence ensuring security and stability wherever the UK has an interest.” Source : Gibraltar Chronicle

SHIPYARD NEWS

Damen Shiprepair Brest wins double order from Knutsen NYK Offshore

Tankers Damen Shiprepair Brest (France) received a booking for the dry-docking and repairs of two shuttle tankers managed by Knutsen NYK Offshore Tankers A/S. The 88,109 GRT sister vessels Karen Knutsen and Sallie Knutsen expect to arrive end February and

Middle of March respectively.

Damen Brest’s Managing Director Jos Goris commented: “We are very pleased with the order from Knutsen NYK Offshore Tankers. Shuttle tankers are delicate vessels and require a high level of operational reliability hence the selection criteria of a dry-docking will always be carefully considered by owners and operators. We are happy to see that Knutsen NYK Offshore Tankers has chosen for Damen Shiprepair Brest.” Mr. Goris continues: “We are known for our highly qualified and trained mechanical department and surely this has been taken into consideration by owners in the decision making process”

Activity Damen Shiprepair Brest presently has two Hyproc Shipping Company LNG carriers in the yard for extensive maintenance works, Italian owner LPG carrier Pertusola and Jan De Nul’s Simon Stevin for various modification works.

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Damen Shiprepair Brest

DSB is a well-established repair yard with modern facilities. The yard employs over 200 staff and has three graven dry docks and sufficient repair berths. The biggest dry dock measures 420 x 80 metres and is one of the biggest in Europe, allowing the yard to accommodate almost any ship in the world.

The shipyard offers a broad range of services for any vessel type, including LNG tankers, oil tankers, semi-submersibles, shuttle tankers, FPSO’s, offshore construction vessels, jack-up rigs, RoRo vessels and ferries. The highly skilled workforce is particularly well-known for its LNG tanker expertise.

Vigor set to buy Seward Ship’s Drydock The owner of Seward Ship’s Drydock has signed a letter of intent to sell the assets of the Seward, Alaska, shipyard company to Vigor Industrial. The two companies are currently negotiating the terms of the potential sale and expect the sale to be finalized after satisfactory completion of environmental, financial and business due diligence and after Seward Ship’s Drydock, Vigor and the City of Seward reach a final agreement on certain details of the agreement, the company said in its press release.

Seward Ship’s Drydock operates as a full service shipyard and drydock facility, in Seward, Alaska. Under the terms of the tentative deal, the Seward shipyard would join Vigor as a subsidiary of the company’s Vigor Alaska subsidiary.

James Pruitt, President of Seward Ship’s Drydock said “in order to continue to grow and expand the business, additional capital was required, and this, together with a desire to further diversify my financial holdings, made this an opportune time to seek a buyer for the business”. Pruitt added that “Vigor Industrial has an impressive vision for Seward Ship’s Drydock and I am confident that I have made a decision which will leave the future of the business, and its employees, in safe hands.”

“This is an exciting opportunity for Vigor, our customers, our employees and the workforce here in Seward,” said Frank Foti, president and CEO of Vigor Industrial. “Vigor continually strives to improve our service to the maritime industry, and the purchase of this strategically located shipyard will expand our ability to provide the services our customers need, when they need them, where they need them.”

Foti explained that the move was part of Vigor’s larger plan to improve the company’s service offerings in Alaska for existing customers in the fishing, oil and gas and marine transportation sectors as well as increase overall capacity to

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meet expected increases in demand from arctic drilling and the revitalization of the commercial fishing fleets in the area.

“Beyond strengthening our business, we look forward to providing even greater family-wage job opportunities for Seward’s current workforce and Alaskans overall,” Foti said. He explained that the purchase will bring the strength of Vigor’s physical, financial and human capital to bear on the yard, which will empower the yard to land more projects and larger-scale projects, translating to more work and sustainable employment for Alaska residents. In addition, Foti said, Vigor will leverage its existing strong public/private partnerships in Alaska to maximize opportunities for the Seward yard. Source : PortNews

BAE Systems Launches PSV for Jackson Offshore

BAE Systems launched the first of four platform supply vessels it’s building for Jackson Offshore Operators, LLC. These vessels, which will support drilling operations in the Gulf of Mexico, reflect BAE Systems’ continued growth in U.S. commercial shipbuilding and its support to the offshore oil and gas industry.

The launch ceremony for the M/V Breeze included representatives from both companies. Lee Jackson, chairman and chief executive officer of Jackson Offshore Operators, initiated the launch and the vessel moved swiftly and safely into the St. John’s River.

“This is a great day for our company,” said Jackson. “It is exactly what we envisioned when we selected BAE Systems for this project. They are excellent partners, share the

same values and principles, such as safety, and they are committed to providing high quality vessels that meet our stringent requirements as well as those of our customers.”

The M/V Breeze will remain at BAE Systems’ shipyard to complete construction prior to delivery in May. The second ship, Hull 256, will be delivered in September. Two additional vessels are under contract and will be completed in 2015.

“This is a significant milestone not only for this project but for our commercial shipbuilding operation,” said Tom Young, director of BAE Systems’ Jacksonville shipyard. “We have a strong and talented team of dedicated employees who demonstrate their commitment to our customers each day. We also value our partnership with Jackson Offshore and appreciate their confidence in our ability and our team.”

Each of the Jackson Offshore Operators vessels will be qualified under the U.S. Jones Act, will measure 252 feet long and 60 feet wide, and will support Jackson Offshore Operator’s expanding business base in the Gulf of Mexico.

The Jackson Offshore contract is part of a continued effort by BAE Systems to increase new construction workload at its facilities in Jacksonville and Mobile, Alabama. The company is currently building two platform supply vessels in Mobile and is under contract to build a subsea support vessel for offshore drilling operations. Source : MAREX

PLEASE MAINTAIN YOUR MAILBOX, DUE TO NEW POLICY OF THE PROVIDER, YOUR ADDRESS WILL BE “DEACTIVATED”

AUTOMATICALLY IF THE MAIL IS BOUNCED BACK TO OUR SERVER If this happens to you please send me a mail at [email protected] to reactivate

your address again, please do not write this in the guestbook because I am not checking this guest book daily.




ROUTE, PORTS & SERVICES

The NORMA I during wreck removal operations at the at Basrah's Oil Terminal.

Photo : Axel Boutros ©

Carnival Cruise Lines to Resume Year-Round Service From Baltimore in 2015 Carnival Cruise Lines and the Port of Baltimore have announced that the cruise line will resume year-round departures from Baltimore when the Carnival Pride begins seven-day cruises in March 2015.

Carnival Pride is currently based in Baltimore where it will remain through October 2014 before repositioning to Tampa for a winter cruise schedule. The ship will return to Baltimore for year-round service in March 2015, hosting nearly 120,000 guests annually. In anticipation of Carnival Pride’s return to Baltimore, the ship will undergo an extensive multi-million-dollar makeover in fall 2014 that will add a host of dining, bar and entertainment innovations that are part of the line’s $500 million Fun Ship 2.0 product enhancement program. Carnival Pride, like several other Carnival Cruise Lines ships, will be outfitted with exhaust gas cleaning technology – known as scrubbers –designed to reduce air emissions from cruise ships and large marine vessels. Scrubber technology will be installed on Carnival Pride prior to its Baltimore deployment in spring 2015. This new

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technology will enable the Carnival Pride to exceed the stricter air emission standards established for operation within the North American Emission Control Area (ECA).

On its year-round deployment from Baltimore, Carnival Pride will offer two different itineraries with voyages departing every Sunday beginning March 29, 2015. Week-long eastern Caribbean cruises will visit Grand Turk, the private Bahamian island of Half Moon Cay and Freeport, The Bahamas, while a Florida/Bahamas schedule will call in Port Canaveral, Fla. (Orlando), and Nassau and Freeport, The Bahamas.

Additionally, prior to its Baltimore deployment, Carnival Pride will operate a 14-day repositioning cruise departing Tampa March 15 and arriving Baltimore March 29, 2015. The one-time voyage will visit destinations in the Caribbean and Central America, including George Town, Grand Cayman; Limon, Costa Rica; Colon, Panama; Aruba; Curacao; and St. Maarten, Netherlands Antilles. Optional excursions to the Panama Canal will be featured during the call in Colon.

“Baltimore is a convenient mid-Atlantic embarkation point for ‘Fun Ship’ cruising and we’re pleased to resume these attractive year-round departures which offer our guests an opportunity to visit a variety of beautiful, tropical destinations,” said Gerry Cahill, Carnival’s president and CEO. “We would like to extend our thanks to officials from the port and the state of Maryland for their outstanding support in our efforts to resume year-round cruising from Baltimore.” “We are pleased to welcome Carnival Cruise Lines back to Maryland and the Carnival Pride cruise ship back to the Port of Baltimore,” said Governor Martin O’Malley. “Our Administration has a proven track record of advocating for a strong, healthy environment and fighting for high-quality jobs for Maryland families. I’m pleased Carnival and the Environmental Protection Agency and Coast Guard have agreed on a plan that will keep family-supporting jobs in Maryland and allow a cleaner and even greener Carnival Pride to return to this thriving cruise market.” Carnival Pride will undergo a three-week dry dock from October 19 to November 9, 2014, during which it will be outfitted with a variety of Fun Ship 2.0 additions Source : travelagent central

Downstream on river Waal near Zaltbommel (The Netherlands), Sea-River Shipping general cargo vessel NORTRAMP.

Photo : Joost Roeland ©

LNG deal prompts Inchcape to open second base at Bonny Island, Nigeria

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INCHCAPE Shipping Services (ISS) has opened a new office on Bonny Island, Rivers State, Nigeria to complement it Lagos operation, which serves Port Harcourt.

"The opening of the office on Bonny Island comes as a result of a recent contract, which will see ISS servicing some of LNG project vessels," said the company statement. ISS, which has a worldwide network of over 300 offices, has a programme of office openings in strategic locations, particularly in emerging markets and developing economies, its press release said.

"The opening of the office on Bonny Island comes as a result of a recent contract, which will see ISS servicing some of LNG project vessels," said the company statement. "Having entered Nigeria in 2008, the opening on Bonny Island represents further growth in the country and forms an important part of our plan for the country, Africa's second largest economy, said Inchcape vice president Flemming Jensen. Source : Schednet

…. PHOTO OF THE DAY …..

The ANDREA just finnished loading, closing the Hatch covers in a frozen Uusikaupunki, Finland.

Photo : Hans Semeins o/b Coral Ivory © The compiler of the news clippings disclaim all liability for any loss, damage or expense however caused, arising from the sending, receipt, or use of this e-mail communication and on any reliance placed upon the information provided

through this free service and does not guarantee the completeness or accuracy of the information

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