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TORM purchases three 2015-built scrubber-fitted LR2 vessels
TORM has today entered into an agreement to purchase the three 2015-built scrubber-fitted and fuel-efficient LR2 vessels Nissos Schinoussa, Nissos Heraclea and Nissos Therassia from Okeanis Eco Tankers Corp. for a total consideration of USD 120.8m. The vessels are expected to be delivered during the remainder of the second quarter and the third quarter of 2021.
TORM has obtained commitment for the financing of two of the vessels from Danish Ship Finance for USD 60.0m subject to finalization of the documentation. The third vessel is expected to be financed through a sale and leaseback agreement with a Chinese financial institution for proceeds of USD 32.2m. In this connection, TORM expects to enter into two additional sale and leaseback agreements providing USD 24m in net liquidity. TORM has agreed on the key terms for the three sale and leaseback agreements.
After the end the quarter, TORM has also sold the MR vessel TORM Carina. Net of debt repayment, the sale will generate USD 6m in liquidity. The vessel is expected to be delivered to the new owner during the second quarter of 2021.
Source: TORM Plc
Sinopec offering refineries incentives to boost VLSFO output -sources
China’s Sinopec Corp is offering its refineries incentives to boost their output of very low sulfur fuel oil (VLSFO), three sources with knowledge of the matter said, to grab a bigger share of the fast-growing marine fuel market.
The top Asian oil refiner is crediting its refineries 150 yuan ($23.35) for every tonne of VLSFO they produce, roughly 5%of the spot marine fuel quoted at east China’s Zhoushan, the country’s top bunkering hub, they said.
The scheme, which started this year, is aimed at motivating its plants to produce more VLSFO as a domestic diesel supply overhang idled some of the state oil firm’s refining capacities, the sources said.
Sinopec declined to comment.
VLSFO has sulfur content of 0.5% or lower to meet the International Maritime Organization’s emission limits for marine fuel.
“With the massive diesel surplus in the domestic market, Sinopec does not need to process that much diesel itself so why not make use of the processing capacity to boost marine fuel?” said one senior source.
Sources declined to be named as they’re not authorized to speak to the media.
The scheme is seen helping Sinopec capture a larger slice of China’s bonded bunker market, which supplies ships plying international voyages. Sales of the ship fuel is booming alongside the Chinese economy.
The scheme started early this year, said a second source, though it is unclear how long it will last.
Chinese traders estimated Sinopec had in the first four months of 2021 produced some 2.5 million tonnes of VLSFO for the bonded market, up nearly 50% from a year ago.
Sinopec’s bonus scheme has heated up competition in Zhoushan, where ex-wharf bunker prices over the past few weeks have recorded a rare discount to that of Singapore, the world’s top bunkering center.
“Already China’s largest marine fuel producer, Sinopec’s strategy will keep weighing on the Zhoushan market,” said a trading manager with a rival Chinese supplier.
Source: Reuters (Reporting by Chen Aizhu, editing by Florence Tan and Jason Neely)
Container liner Hapag-Lloyd expects 2021 growth to continue on firm demand
German container liner Hapag-Lloyd is expecting 2021 year-on-year growth to far outperform the levels seen in 2020 as demand continues in the container market around the world.
With strong cargo volumes dominating the market until this point in 2021, this is expected to continue well into the middle of the year, although the company expects there to be a “gradual normalisation of the development in the second half of the year,” it said in its Q1 earnings report on May 12.
Firm demand from the key exporting region of North Asia, a mainstay in the container market for the year-to-date, has caused some significant congestion and port delays across importing regions, most notably North America and Europe.
Despite this demand, Hapag-Lloyd’s transported volumes over the first quarter fell 2.6% to 2.98 million TEUs (twenty-foot equivalent units), with delays at ports and shortages in equipment, most notably available ships and boxes, largely to blame for this falling volume.
The company also noted that through the remainder of the year, the global economic conditions are expected to recover, which should boost global trade and, in turn, containerised cargo movements around the world.
Logistical issues continue to dog market
Despite the expected growth in volumes, the situation in ports around the world appears somewhat unstable at this point. Following the blocking of the Suez Canal in March, further bottlenecks have formed at both European and Asian ports which have exacerbated the equipment shortages further.
“I am struggling, my clients are struggling, everyone is struggling,” said a UK-based freight forwarder. “We pay and pay and still there is a high chance cargo will be rolled as demand is just through the roof at the moment.”
Platts Container Rate 11 – North Asia to UK – jumped significantly on the increase in FAK (Freight All Kind) rates at the start of May and was assessed at $13,000/FEU. By contrast, freight rates along this route a year earlier were $1,200/FEU, highlighting the over 10-fold increase.
Despite expectations earlier in the year that these logistics issues would be solved by Lunar New Year in February, even the most conservative of estimates now has the final quarter of 2021 as the goal for the container market to return to business-as-usual.
As vaccine rollouts across Europe and North America also continue, space on ships into June and July is almost gone with bookings continuing at pace, with importers filling warehouses in the hope of bumper sales as consumer demand bounces back.
Bunker prices, freight rates “increasing clearly”
Transport expenses fell by 14.2% in the first three months due to lower bunker consumption prices and currency effects, the company said. Prices for 0.5%S marine fuel delivered-Rotterdam averaged $413/mt in Q1 2021, compared with $417/mt in the previous year. Without March 2020’s average, prices were much higher pre-COVID-19.
Also, bunker consumption dropped and took up a lesser proportion of total operating expenses compared to the previous year. “This decline was essentially caused by a slight decrease in ship capacity compared with the prior year period and longer waiting times at and before ports.”
“At the same time, a clear increase in the average bunker consumption price is assumed, which should have a dampening effect on the development of earnings,” it said.
The company has tagged a forecast of transport volume “increasing slightly” in 2021, while bunker consumption prices along with freight rates are “increasingly clearly,” it expects.
Source: Platts
Safe Bulkers, Inc. Pursues its Fleet Renewal and Deleveraging Strategy
- Acquisition of Two Post-Panamax Newbuilds
- Sale of Two Kamsarmax Vessels
- Prepayment of $27.3 million of Debt
Monaco – May 12, 2021 -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that in relation to its fleet
renewal strategy, it has entered into agreements: i) for the acquisition of two Japanese-built, drybulk, Post-Panamax class, 87,000 dwt, newbuild vessels at attractive prices with scheduled
delivery dates within the first and the second quarter of 2023 respectively; ii) for the sale of two Chinese 2012 built, Kamsarmax class, 82,000 dwt vessels at gross sale prices of $22.5 and $22.0 million with scheduled delivery dates within the second and third quarter of 2021 respectively.
The newbuild vessels are designed to meet the requirements of Energy Efficiency Design Index related to Green House Gas, GHG emissions, ‘EEDI, Phase 3’ and also comply with the NOx
emissions regulation, NOx-Tier III and will be financed from the cash reserves of the Company.
In relation to vessel sales the company will pay prior to each delivery the respective associated debt in the aggregate amount of $28.0 million. Upon completion of the two sales the net liquidity is expected to increase by about $16.5 million.
In the context of our deleveraging strategy the company has scheduled to voluntarily prepay $27.3 million of debt in May 2021.
The Company’s consolidated debt before deferred financing costs has been reduced from $607.6 million in March 31, 2021 to $593.7 million as of today. On a pro-forma basis reflecting the
above transactions and the previously announced sale and lease back agreement for an existing vessel of $24.3 million for the refinancing of a $16.3 million outstanding term loan facility the
consolidated debt before deferred financing costs is expected to be further reduced to about $546.4 million.
Dr. Loukas Barmparis, President of the Company commented: “Safe Bulkers is continuing its renewal strategy since December 2020, by ordering two additional newbuilds with attractive
delivery dates, bringing their total number to four GHG - EEDI Phase 3, NOx-Tier III newbuilds and one second hand acquisition and by selectively selling in total of four older vessels. At the
same time the Company is accelerating its deleveraging, maintaining a strong liquidity position.”
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes
for some of the world’s largest users of marine drybulk transportation services. The Company’s common stock, series C preferred stock and series D preferred stock are listed on the NYSE,
and trade under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”, respectively.
DEMAND, SUPPLY AND COMPETITIVENESS IN THE GLOBAL CONTAINER SHIPPING INDUSTRY
This webinar, organised by Maritime London in partnership with member MDS Transmodal Ltd, will discuss the changes in the global deep-sea container market. The topics will include:
Long term trade growth and the erratic trends of the last 12 months which led to a Q4 2020 demand 5% more than any other previous quarter
Slow growth in liner service capacity so that utilisation levels are now very high
Deteriorating service quality (reliability, port calls completed) as demand has led to port congestion and ships being off schedule
A major spike in rates, exacerbated by a lack of equipment (i.e. containers) in major export areas (empties now having been returned earlier in the year)
A wider reflection on the role of liner shipping on creating connectivity between trading countries
Trends in carbon emissions
Increasing concentration in the control and ownership of liner service capacity
Speakers at the event include:
Jos Standerwick, Chief Executive, Maritime London - Webinar Host & Moderator
Mike Garratt, Chairman, MDS Transmodal Ltd - Presenter
James Hookham, Chief Executive Officer, Global Shippers’ Forum - Presenter
Tim Morris, Chief Executive Officer, UK Major Ports Group - Presenter
Clean product tanker rates on US bound trade almost doubles after pipeline attack
The closure of the Colonial pipeline which runs from the US Gulf to the US East Coast, has caused a spike in oil product tanker rates on trades to and from the region. Earnings on the Rotterdam to New York trade for a Handysize tanker capable of carrying about 280,000 barrels of oil, jumped from USD 5,591 per day on 7 May to USD 10,833 on 10 May. This is because gasoline is in high demand and gas stations are being emptied by consumers worried about supply.
An even more impressive increase came on the US Gulf to North Europe trade where rates rose from negative USD 65 per day on 7 May to USD 8,118 per day on 10 May.
Though the higher rates on these two routes have pulled the basket BCTI index up, earnings on other benchmark trades outside of this region have not yet been affected, with the Baltic Clean Tanker Index (BCTI) posting a much more modest increase over the weekend of 6.4%.
Tanker shipping ready to step in to avoid shortages
The pipeline plays a major role in the US East Coast’s oil infrastructure, connecting the large refinery capacity in the Gulf Coast with the demand hubs along the East Coast with its 2.5m bpd capacity. Small parts of the pipeline are now said to be running again, but the main pipeline remains shut down as of early afternoon CET on 12 May.
Tanker shipping presents an obvious alternative to the pipeline; the longer the disruption, the better for the tanker shipping market, which its current state needs all the help it can get. This would either be by transporting the oil products from the refineries in the US Gulf to the consumers along the East Coast, especially if the Jones Act be waived, as this would allow foreign ships to complete the domestic voyage. Or by transporting more volumes across the Atlantic, should demand for on this trade pick up as a result of the pipeline closure. The latter would be preferable for the global tanker shipping industry.
Based on Signal Group data there are currently 38 ships available for the North Europe to US Atlantic trade and 56 on the US Gulf to North Europe route.
“Though on a different scale, the sudden jump in freight rates on these two routes mirrors developments after the US sanctions imposed in October 2019, as well as the breakout of the oil price war in March 2020. It reinforces the importance of geopolitics and shocks to the tanker market and their potential to bring earnings out of a slump, even if only temporarily, as is likely to be the case this time,” says Peter Sand, BIMCO’s Chief Shipping Analyst.
Norwegian Cruise Line Unveils Much-Anticipated Norwegian Prima
– First of Six Vessels in New Groundbreaking Class Officially Opens for Sale with Sensational Itineraries Sailing Northern Europe, The UK, The Caribbean and Bermuda –
– Industry’s Most Spacious New Cruise Ship Offering the Most Outdoor Deck Space and the Most Expansive Accommodations of Any New Build –
– Cutting-Edge Ship Launches Multiple NCL Firsts with Indulge Food Hall, Infinity Beach, Oceanwalk and The Concourse –
Athens, May 12, 2021 – Norwegian Cruise Line, the innovator in global cruise travel with a 54-year history of breaking boundaries, today opened for sale the first of six ships within its highly anticipated next class of vessels, Prima Class, the Brand’s first new class of ships in nearly 10 years.
With voyages beginning in summer 2022, Norwegian Prima, the first of the six ships, will be 965 feet long, 142,500 gross tons and able to accommodate 3,215 guests at double occupancy. The vessel will be a game-changer for NCL, offering guests exciting itineraries, more wide-open spaces, thoughtful and stunning design, a variety of new experiences as well as Norwegian’s exceptional service.
“Despite not having sailed in more than a year, we never stopped working and innovating, we never once pressed pause,” said Harry Sommer, president and CEO of Norwegian Cruise Line. “In fact, we doubled down on our brand investment in order to deliver unforgettable guest experiences that go well beyond expectations. Not only will we begin cruising this July, we’re so proud and so incredibly happy to announce the start of an exciting new chapter as we introduce the Prima Class and the first ship in a line of unrivaled vessels with Norwegian Prima.”
Sommer continued, “An exemplary representation of our brand evolution, bringing together our ‘Guest First’ philosophy and our spirit of innovation, Norwegian Prima personifies everything our guests love about NCL and raises the bar. This brand-new class of ships is truly designed to put our guests first.”
The show-stopping vessel built in Marghera, Italy by Italian shipbuilder Fincantieri features striking hull artwork designed by Italian graffiti artist Manuel Di Rita, known commonly as “Peeta.” For the first time on any NCL vessel, the captivating hull art extends to the forward superstructure of the ship. World-class architects that helped design Norwegian Prima include Italian designer Piero Lissoni and powerhouse architectural firms Rockwell Group, SMC Design, Tillberg Design of Sweden, YSA DESIGN and Miami-based Studio Dado who conceptualized and composed the aesthetic of various restaurants, staterooms and public areas on board.
“The name ‘Prima,’ which means “first” in Italian, is a natural fit that ties into our legacy of firsts in the industry and a fitting tribute to our new Italian shipbuilding partners at Fincantieri,” added Sommer.
“We are very honored to partner with Norwegian Cruise Line for the development of its next class of ships,” said Giuseppe Bono, CEO of Fincantieri. “Norwegian Prima marks the beginning of our collaboration, which will see the delivery of six next-generation vessels that are designed to take guest experiences to a new level focusing on elevated, spacious and thoughtful design. As we emerge from this global crisis, this announcement marks a strong sign of hope for the cruise sector and is a testament to Fincantieri’s global leadership role in the industry.”
Wide-Open Spaces and Elevated Experiences That Go Beyond Expectation
“We innovated with purpose and created Norwegian Prima to push the boundaries of conventional cruising, offering our guests more wide-open spaces, thoughtful art and design and world-class service which places our guests at the heart of it all,” added Sommer.
Norwegian Prima will offer the highest staffing levels and space ratio of any new cruise ship in the contemporary and premium cruise category, delivering an unrivaled guest experience. She will offer the largest variety of suite categories available at sea with 13 suite categories as well as the largest three-bedroom suites of any new cruise ship and the Brand’s largest-ever inside, oceanview and balcony staterooms, including the Brand’s largest-ever bathrooms and showers for standard stateroom categories. Norwegian Prima will also offer the most outdoor deck space of any new cruise ship including more total pool deck space than any other ship in NCL’s fleet as well as multiple infinity pools and vast outdoor walkways allowing guests to take in the sea, the ocean breeze and a variety of elevated experiences.
The Elevated Haven By Norwegian
To provide guests with an unrivaled experience in luxury cruising, The Haven by Norwegian on Norwegian Prima has been elevated to offer the Brand’s most exclusive and centralized suite complex. Spanning eight decks of suites and public areas, the ultra-premium keycard only access ship-within-a-ship concept provides guests with private amenities, dedicated services and the most luxurious accommodations on board. For the first time, the Cruise Line relocated all 107 Haven suites to the aft (the rear of the ship) within close proximity of private elevators exclusively reserved for Haven guests. These elevators rise directly into The Haven public areas on decks 16 and 17. NCL evolved The Haven's design to be more open to the sea than ever before. For the first time, every public area in The Haven offers stunning sea and destination views. The Haven Courtyard on Norwegian Prima has been transformed into an expansive Haven Sundeck, boasting a stunning new infinity pool overlooking the ship's wake and a new outdoor spa with a glass-walled sauna and cold room.
Pushing the boundaries of exclusive design within the reimagined exclusive space, all public areas and suites in The Haven have been designed by Piero Lissoni, one of Italy’s preeminent designers. Lissoni provided an elegant and sophisticated design to The Haven Sundeck, The Haven Restaurant, The Haven Lounge & Bar and the Outdoor Spa: Sauna and Cold Room.
Outdoor Living on Ocean Boulevard
Furthering the elevated experience that places guests first and understanding the important connection they have with the outdoors and proximity to the sea, NCL reimagined its industry pioneering The Waterfront by doubling the space and adding a greater variety of experiences and dining options than ever before by introducing Ocean Boulevard.
Located on deck eight, Ocean Boulevard at 44,000 square feet long, wraps around the entire deck, allowing guests to walk around the entire ship and experience amazing ocean views while having the choice to partake in numerous exceptional outdoor activities.
Global Cuisine with Indulge Food Hall
As part of the multifaceted experiences offered on Ocean Boulevard, NCL introduced the Brand’s first-ever upscale open-air marketplace with Indulge Food Hall. Created to elevate the guest-sensory experience on Norwegian Prima, Indulge Food Hall offers visitors diverse menu items from a variety of culinary venues as well as a mix of indoor and outdoor seating.
NCL’s first-ever food hall was thoughtfully designed, offering various cuisines and showcasing captivating colors and smells with 11 venues including returning guest culinary favorites Coco’s, serving artisan sweet treats; Q Texas Smokehouse, boasting delicious American Southern comfort food and barbecue; and Starbucks. Indulge will unveil first-ever dining venues including Seaside Rotisserie, offering a wide array of rotisserie-cooked dishes; Nudls, an emporium serving noodle dishes from around the world, from Italian to Thai cuisines; Tamara, preparing classic Indian dishes and multiple vegetarian food options; The Latin Quarter, serving classic Latin food with a twist; Tapas Food Truck, cooking elevated Spanish-inspired street food; Garden Kitchen, where guest can order customized salads with more than two dozen ingredients to choose from; Just Desserts, featuring classic dessert items such as pies and cakes and Just Ice Cream serving all guest favorite ice cream flavors and over-the-top decadent creations.
Hybrid Dining on Ocean Boulevard
Adding to the culinary offerings available on Norwegian Prima’s Ocean Boulevard, the site will host three additional dining venues offering both indoor and outdoor seating including Onda By Scarpetta, Los Lobos and The Local Bar & Grill. Onda by Scarpetta, which debuted on Norwegian Encore in 2019 and also available on Norwegian Spirit, will showcase the rich and bold flavors for which the modern Italian land-based, award-winning Scarpetta restaurants are recognized. The venue, designed by esteemed design firm Studio Dado, features an elegant atmosphere, modern design and expansive indoor and outdoor ocean views. Los Lobos, the Brand’s premium Mexican restaurant, returns on Norwegian Prima to boast traditional Mexican flavors with modern flair set in a contemporary atmosphere also designed by Studio Dado. The revamped Local Bar & Grill set in an upscale beach club atmosphere will showcase live music where guests can relax and enjoy cocktails and classic Americana cuisine.
A Day on Ocean Boulevard: The Concourse, Infinity Beach, Oceanwalk and La Terraza
Created to be a destination in and of itself within Norwegian Prima and furthering the day-to-day elevated guest experiences available on Ocean Boulevard, the Company unveiled additional “firsts” for the Brand including The Concourse, an outdoor sculpture garden features an art wall designed by famed artist David Harber and six installations designed by Alexander Krivosheiw featuring immersive art inspired by ancient mythology and contemporary abstract forms. The seven sculptures, valued at over $2 million, offer stunning effects that change as the sun sets, making them perfect for photos and social media posts. Guests can also relax at Infinity Beach featuring two infinity pools, one located on each side of the ship and close to the ocean surface, which is an industry-design first that allows pool-goers to take in the vastness of the ocean while soaking in the open air. The two Oceanwalk glass bridges, also new to the Brand, will provide guests with photographic, breathtaking views that will make them feel as if they are walking on air over the water. La Terraza, an open-air lounge, features a quaint retreat for visitors to catch stellar forward-facing sea views.
Bucket-List Itineraries on the Industry’s Newest Ship
Summer 2022: Northern Europe and The UK
Following a string of inaugural cruises and beginning August 2022, Norwegian Prima will be the newest ship embarking in Northern Europe. From Aug. 17 to Sept. 13, 2022, she will sail a series of eight-day voyages from Amsterdam, Netherlands, and Copenhagen, Denmark, offering guests the opportunity to explore the continent’s Northern Europe, Norwegian Fjords and Baltic regions.
Fall/Winter 2022: Bermuda and The Caribbean
On Sept. 23, Norwegian Prima will depart Southampton, England, on a 12-day transatlantic voyage visiting Lerwick, Scotland with an overnight in Reykjavik, Iceland, before arriving in Halifax, Nova Scotia, and ending her journey in New York to commence a five-day roundtrip itinerary on Oct. 10 to Bermuda, where she will make her debut as the newest ship sailing the fall and winter season. On Oct. 15, she will depart from New York on a 12-day open-jaw immersive Caribbean itinerary where she will be the newest ship in the region and for the first time ever for NCL, the vessel will visit Galveston, TX. She will have calls to Willemstad, Curacao; Kralendijk, Bonaire; Oranjestad, Aruba, with all visits featuring between nine and 10 in-port hours. On Oct. 31, Norwegian Prima will kickstart her Caribbean season departing from Galveston, TX, to Miami on an 11-day itinerary with visits to Willemstad, Curacao; Kralendijk, Bonaire, and the Company’s recently enhanced private island Great Stirrup Cay, Bahamas. From Nov. 19 to Dec. 3, Norwegian Prima will sail from Miami offering three, seven-day Western Caribbean cruises visiting Harvest Caye, the Company’s private resort destination in Belize, in addition to other notable ports including Cozumel, Mexico, and Roatan Island, Honduras.
Fall/Winter 2022-2023: Western Caribbean Voyages Homeporting from Orlando, Fla. (Port Canaveral)
From Dec. 11, 2022, to March 19, 2023, Norwegian Prima will homeport in Orlando, Fla. (Port Canaveral), sailing 15 roundtrip Western Caribbean voyages featuring five, seven, and nine-day port-rich itineraries visiting notable destinations, including Cozumel, Mexico; Ocho Rios, Jamaica; Grand Cayman, Cayman Islands, and NCL’s private island, Great Stirrup Cay, in the Bahamas.
Spring 2023: Bermuda
Starting March 28 to May 7, Norwegian Prima will sail a mini-season of five and mostly seven-day roundtrip Bermuda voyages from New York. She will call at Norfolk, Virginia – the gateway to Virginia Beach and the historic area of Colonial Williamsburg. The vessel will also sail to the Royal Naval Dockyard in Bermuda, where itineraries include one or two overnight stays at the Royal Naval Dockyard to allow flexibility for guests to explore its shops, restaurants and pristine beaches on their own time.
Spring and Summer 2023: Northern Europe
On May 14, Norwegian Prima heads back to Iceland and Northern Europe, departing on an 11-day transatlantic journey from New York City to Reykjavik, Iceland, visiting Halifax and Sydney, Nova Scotia, before making calls to several immersive Icelandic ports, including Akureyri, which resides on the longest fjord in Iceland and Isafjordur, where guests can take in Icelandic Viking history and unspoiled natural marvels. The voyage culminates in Reykjavik with an overnight stay, where guests can partake in the cosmopolitan experiences of Iceland’s capital and largest city featuring contemporary art, a growing culinary scene and thriving music culture while also maintaining a connection to the great outdoors with geothermal springs and whale watching activities.
From May 25 to Sept. 7, Norwegian Prima’s summer 2023 season will offer a mix of 10 and 11-day Norway and Iceland sailings from Reykjavik, Iceland, and Southampton, England, featuring extensive port time between nine and 14 in-port hours to offer guests an immersive experience. Throughout her voyage, guests will have the unique opportunity to cruise through the remarkable Heritage Fjords, a UNESCO World Heritage site, where Norwegian Prima will be one of the few ships that meet the criteria to sail in these environmentally protected waters. Other bucket-list worthy destinations include a call to Geiranger, Norway, featuring 14 hours in port where guests can visit Norway’s most famous fjord, Geiranger Fjord, an awe-inspiring deep blue UNESCO protected nine-mile fjord surrounded by majestic, snow-covered mountain peaks, wild waterfalls and lush vegetation. The world famous Seven Sisters and The Bridal Veil waterfalls are just two of the numerous cascades that run down the steep mountainside throughout Geiranger Fjord. Norwegian Prima will also call to Olden, Norway, and feature 10-hours in port with access to the jaw-dropping Briksdal Glacier, a branch of the famous Jostedal Glacier, where guests can partake in once-in-a-lifetime hikes and nature trails.
On Sept. 17, Norwegian Prima concludes her summer 2023 season with a 14-day roundtrip voyage from Southampton, England, featuring between seven and 10 in-port hours with notable calls to Dublin, Ireland; Isafjordur and Akureyri, Iceland, with an overnight in Reykjavik; and visits to Geiranger, Olden, and Stavanger, Norway.
About Norwegian Cruise Line
As the innovator in global cruise travel, Norwegian Cruise Line has been breaking the boundaries of traditional cruising for 54 years. Most notably, the cruise line revolutionized the industry by offering guests the freedom and flexibility to design their ideal vacation on their preferred schedule with no assigned dining and entertainment times and no formal dress codes. Today, its fleet of 17 contemporary ships sail to over 300 of the world’s most desirable destinations, including Great Stirrup Cay, the company’s private island in the Bahamas and its resort destination Harvest Caye in Belize. Norwegian Cruise Line not only provides superior guest service from land to sea, but also offers a wide variety of award-winning entertainment and dining options as well as a range of accommodations across the fleet, including solo-traveler staterooms, mini-suites, spa-suites and The Haven by Norwegian®, the company’s ship-within-a-ship concept. For additional information or to book a cruise, contact a travel professional, call 888-NCL-CRUISE (625-2784) or visit www.ncl.com. For the latest news and exclusive content, visit the media center and follow Norwegian Cruise line on Facebook, Instagram and YouTube @NorwegianCruiseLine; and Twitter and Snapchat @CruiseNorwegian.
Costamare Inc. Announces Offering of Senior Unsecured Bonds on the Athens Exchange
MONACO – May 12, 2021 – Costamare Inc. (the “Company”) (NYSE: CMRE) announced today that its wholly owned subsidiary, Costamare Participations Plc (the “Issuer”), plans to offer in
Greece up to €100 million of unsecured bonds (the “Bonds”) which will be admitted to trading in the category of fixed income securities of the Regulated Market of the Athens Exchange.
The net proceeds of the offering are intended to be used for repayment of indebtedness, vessel acquisitions and working capital purposes.
The Bonds to be offered have not been registered under the Securities Act or the securities laws of any U.S. state or other jurisdiction and may not be offered or sold in the United States absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Bonds, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. In addition, this announcement is not intended as and shall not constitute a public offer or advertisement of securities in Greece or an invitation to make offers to purchase any securities in any EEA Member State within the meaning of Art. 2(d) or 2(k) of the Prospectus Regulation respectively.
About Costamare Inc.
Costamare Inc. is one of the world’s leading owners and providers of containerships for charter. The Company has 47 years of history in the international shipping industry and a fleet of 82
containerships, with a total capacity of approximately 582,837 TEU, including one vessel under construction, six secondhand vessels that we have agreed to acquire and three vessels that we have agreed to sell. Five of our containerships have been acquired pursuant to the Framework Deed with York Capital Management by vessel-owning joint venture entities in which we hold a minority equity interest. The Company’s common stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock trade on the New York Stock Exchange under the symbols “CMRE”, “CMRE PR B”, “CMRE PR C”, “CMRE PR D” and “CMRE PR E”, respectively.
TSUNEISHI SHIPBUILDING collects actual operation data by IoS-OP - Utilizing IoS-OP from sea trial of new ship under construction -
TSUNEISHI SHIPBUILDING Co., Ltd. starts to collect actual operation data for a new ship under construction by IoS-OP*1.
The data to be collected includes the draft and shaft horsepower as well as the information from Voyage Data Recorder (VDR), and fuel consumption and power consumption from the main engine, generator, and auxiliary machineries, which amounts to about 800 items. The monitoring system is installed in the 82,000DWT bulk carrier currently under construction, and its data measurement is started from the sea trial. The collected data will be shared between the shipyard and shipowner through "ShipDC Portal" provided by ShipDC on IoS-OP, and will be utilized for the development of new ship types based on the understanding of machineries’ condition and the evaluation of the ship's performance.
ShipDC will continue to work together with its stakeholders to provide an infrastructure for the collection, distribution, and utilization of data in the maritime industry, with IoS-OP at the core, and will pursue safety, environmental contribution, and economic rationality through the utilization of data.
*1 A universal platform that enables the sharing of ship operation data among shipbuilders, manufacturers, and related service providers without compromising profits of data providers.
Scorpio Shipmanagement upgrades its entire fleet with Marlink's hybrid network solution
Tanker and bulker shipmanager extends its long-standing relationship with Marlink to reach rapid digitalisation and higher vessel efficiency
Oslo and Monaco, 11 May 2021. Marlink and Scorpio Shipmanagement have signed an agreement to upgrade the hybrid VSAT network solution on all vessels in its fleet, with additional bandwidth to enable new data, applications and reporting.
The service extension will provide Scorpio with higher bandwidth services to meet an increasing level of business need for higher data rates and usage volumes. Scorpio’s global fleet of about 150 vessels will be able to satisfy current and future requirements from charterers and regulators, while also providing cost-efficient crew communications.
The Scorpio fleet features Marlink’s smart hybrid network combining Ku, Ka-band VSAT with global coverage for voice and data services, L-Band back-up and global 4G connectivity, bundled with security and optimisation tools. The agreement also includes equipment upgrades for new satellite access platforms to deliver best-in-class services on a global basis.
Ship operators are increasingly looking to future-proof their connectivity to meet their digital ambitions, which include the use of collaborative cloud-based software and applications. With crew welfare and retention at its core, Scorpio will enable a new level of remote access to ship systems and provide crew connectivity with a high level of security.
“Marlink’s hybrid network solution enables Scorpio Shipmanagement to gain the benefits of digitalisation means having the connectivity to support our business now and give us room to grow as demands for higher performance, greater efficiency while providing our crew with enhanced capabilities to stay closer with their beloved,” says Paolo Magonio, Group Procurement Manager, Scorpio Shipmanagement.
“In talking with our customers we find them increasingly looking at new technologies and new applications as standard; they want to use the same collaborative tools as we do ashore to communicate, access documents and data easily,” says Tore Morten Olsen, President, Maritime, Marlink. “We make this possible by integrating and delivering complex hybrid connectivity and digital solutions as a managed service to further enable digitalisation in maritime.”
About Marlink
Marlink is the trusted partner in fully managed smart network solutions, based on an intelligent hybrid network and unrivalled digital solutions.
The company provides Smart Network Solutions, connecting people and assets around the globe and across all markets where conventional connectivity cannot reach or is not available. Marlink’s Intelligent Hybrid Network combines global satcom and terrestrial technologies via a proprietary global infrastructure.
The Marlink Smart Edge, an integrated service delivery platform, orchestrates and optimises all network elements and applications, from data handling and IT to application-based routing (SD Wan), cloud and Digital Solutions, including remote data and IT, cyber security as well as IoT/OT solutions.
This provides customers with full ‘Peace of Mind’ that their chosen network solution is fully optimised, integrated and has the security required to operate more profitably and sustainably, increasing their efficiency and safety through operational optimisation, tracking and routing, monitoring and reporting.
Marlink’s Smart Network Solutions are provided as Managed Services meeting the highest quality standards and service level agreements. The company proactively monitors and supports network solutions, providing alerts, reporting and insights on performance and usage of connectivity, systems, and applications as well as advice and consultancy on how to further optimise customer networks.
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