Easterly Asset Management has unveiled Maritime Logistics Equity Partners (MLEP), a new company formed to take advantage of opportunities in international shipping markets, including the chemical tanker shipping sector that is projected to reach $9.5 billion by 2026.

“There is a compelling opportunity to invest in pre-owned chemical tankers, given the limited supply and growing demand for the vessels, a low future orderbook for shipping construction and the expansion of chemical trade lanes,” Darrell Crate, Managing Principal of Easterly Asset Management and MLEP’s Chief Executive Officer, explained.

“Like the oceans themselves, the opportunities are vast.”

In its first transaction, MLEP acquired two stainless steel chemical tankers, the Easterly Beech Galaxy and the Easterly Lime Galaxy, from CIDO Shipping, built in 2007 and 2008, respectively.

“MLEP has recently acquired two additional vessels and is actively looking to acquire more stainless-steel tonnage of all sizes aged 10-15 years,” Crate added.

MLEP intends to acquire more stainless steel vessels by the end of 2021. By acquiring previously owned tankers to meet increased demand, MLEP can provide investors with an attractive level of regular, growing income as well as capital returns.

“Chemical tankers may not be glamorous, but they keep the global economy humming and investors happy with a steady stream of income,” Crate further said.

MLEP is responding to industry trends, including a decline in the building of chemical tankers intended for the transport of bulk liquids such as palm oil, feedstock and other commodities. Following a construction boom that peaked in 2008, shipbuilders are now focused on building other tanker types and sizes.

With increasing chemical production, tight ship supply and a lack of liquidity in the capital markets for new tankers, there is growing demand for such vessels. MLEP is acquiring tankers built during the boom but with years of productive life remaining and putting them out for hire through WOMAR.

“A tight shipping supply, combined with increased global chemical production, is a powerful tailwind for existing vessels.”

MLEP will place all of its acquired vessel into WOMAR’s Tanker Pools

 

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Easterly creates new maritime investment company


Container ship MSC LAUREN was put under quarantine upon arrival at Callao anchorage, Chile, on Sep 21, after 1 (one) crew showed positive test. The ship arrived from Peru, she’s deployed in Andes Service between Asia and the West Coast of Latin America. MSC, reportedly, already notified its’ clients about the mishap, saying that all the cargo will remain on board until quarantine expires.

New FleetMon Vessel Safety Risk Reports Available: https://www.fleetmon.com/services/vessel-risk-rating/

 

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https://www.fleetmon.com/maritime-news/2021/35409/msc-12500-teu-ship-out-service-schedule-15-day-qua/


Refrigerated cargo ship ULLA reportedly suffered cargo shift, being caught in stormy weather, on Sep 22 in waters between south Iceland and Westman islands, Iceland, while en route from Keflavik Iceland to Thyboron, Jutland, Denmark. The ship reported developing list, turned to nearest shelter, Vestmannaeyjar Westman islands, and arrived there same day with some 10-15 deg list, escorted by offshore patrol tug THOR and harbor tug.

New FleetMon Vessel Safety Risk Reports Available: https://www.fleetmon.com/services/vessel-risk-rating/

 

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https://www.fleetmon.com/maritime-news/2021/35425/danish-cargo-ship-suffered-cargo-shift-list-had-sh/


Cargo ship is under detention at Terneuzen Netherlands since arrival on Sep 18. Ship’s course alerted Scheltd Coordination Center on Sep 18, because she was sailing towards Borssele wind farm, with no signs of changing course. Attempts to find out what’s going on failed, because as it turned out later, Captain of Azerbaijan nationality didn’t speak English well enough to understand, though he finally, reacted to a direct order to immediately change the course. The ship berthed at Terneuzen same day, and was checked. Inspection found a number of deficiencies, including outdated (understood downloaded from open sources) electronic charts without among other things, navigational buoys; Captain and officers lack of navigational and communication skills (paper charts weren’t used), they also couldn’t make stability calculations. The ship wasn’t identified except that she’s Vanuatu-flagged, but according to AIS data, she should be general cargo ship MY REYHAN, ex- SEAKESTREL, renamed shortly before this incident, probably in September.

New FleetMon Vessel Safety Risk Reports Available: https://www.fleetmon.com/services/vessel-risk-rating/

 

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https://www.fleetmon.com/maritime-news/2021/35421/cargo-ship-near-miss-dutch-wind-farm/


Sep 23: Arrived at Montevideo anchorage on Sep 22 under tow of Uruguayan tugs MANEADOR and GLADIADOR, anchored.
Bulk carrier ZILOS, disabled by explosion on Aug 31, as of Sep 7 is still adrift, understood she’s to be towed to Montevideo by offshore tug RG WARRIOR (MMSI 701120000). Captain of bulk carrier reported to MRCC Uruguay, according to local sources, that the crew will be able to restart engine and the ship will reach Montevideo under own power, but it seems unlikely.
Initial news:
Bulk carrier on fire after explosion, adrift in South Atlantic, 1 crew died
Uruguay MRCC at night Sep 1 received an emergency call from US CG, reporting bulk carrier ZILOS in trouble some 760 nm E of Montevideo. The ship suffered an explosion, one crew was killed by this explosion, but no other details were given. Probably, explosion occurred in engine room, and disabled the ship – ZILOS is not under command, drifting, since evening Aug 31. Later she was reported to be “on fire”.
She’s en route from UAE to Montevideo, scheduled ETA Sep 10.

New FleetMon Vessel Safety Risk Reports Available: https://www.fleetmon.com/services/vessel-risk-rating/

 

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https://www.fleetmon.com/maritime-news/2021/35429/tug-under-way-take-disabled-bulker-tow-south-atlan/


Cargo ship ZHUO HANG 6 while proceeding upstream in Huangpu river near scenic waterside Bund, Shanghai, on Sep 22, went out of control and struck the embankment, scaring people who’ve been taking a walk along picturesque riverside. Embankment sustained serious damages, the ship no doubt, also sustained bow and starboard side hull damages. She continued sailing and later berthed in Xuhui area, Shanghai.

New FleetMon Vessel Safety Risk Reports Available: https://www.fleetmon.com/services/vessel-risk-rating/

 

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https://www.fleetmon.com/maritime-news/2021/35445/cargo-ship-struck-scenic-riverside-shanghai-video/


Bulk carrier XIN HAI ZHOU 26 collided with Chinese fishing vessel in East China sea some 30 nm SE of Zhoushan, China, in the evening Sep 22, while en route from Ningbo-Zhoushan to Soviet Gavan, Russia. Fishing vessel sank, of 7 crew on board 4 were rescued, 1 recovered dead, and 2 are missing. XIN HAI ZHOU 26 was ordered to anchor near collision site, understood for investigation.

New FleetMon Vessel Safety Risk Reports Available: https://www.fleetmon.com/services/vessel-risk-rating/

 

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https://www.fleetmon.com/maritime-news/2021/35449/bulk-carrier-collided-fishing-boat-1-dead-2-missin/


Weilbach, the Danish maritime software solutions and products supplier, has achieved certification for its new digital logbook platform. By digitalising logbooks, ship owners can save time spent on administrative tasks and communication between seafarers on board and the office ashore.

Weilbach, the Danish maritime software solutions and products supplier, has achieved certification for its new digital logbook platform. By digitalising logbooks, ship owners can save time spent on administrative tasks and communication between seafarers on board and the office ashore.

The digital platform is called WENDIS OneLog and was launched last year. The software has been developed and tested with shipowners to approve it as an accurate and realistic replacement for paper logbooks. With this, the platform is now approved according to the IMO regulation MEPC.312(74) to be used solely on board in place of paper logbooks.

“The market is looking for digital solutions that can support shipowners and seafarers in simplifying communication between the ships and the office ashore. By digitalising logbooks, all information and communication are available and visible online immediately,” said Martin Mikkelsen, Director of Business Development, Weilbach “This means that shipowners can cut costs by not spending time and money waiting for the right information from the ship and sending logbooks to vessels with a courier. Also, they can report back to their customers and visualise information such as fuel consumption, the route and who is on board because this is part of the data in the logbooks.”

The OneLog software solution closely replicates paper logbooks. This makes it easy to use for seafarers and enables them to get the platform up and running straight away while staying compliant with regulations. “During the last year, digital solutions have become more widely accepted by shipowners. Likewise, the industry is more ready to replace traditional systems on board. With the approval of WENDIS OneLog, we can offer a fully digitalised portfolio, and this also pushes the digital agenda,” added Mikkelsen.

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Weilbach Digital logbooks approved to IMO standards


Synergy Marine, a subsidiary of Synergy Group, has signed an agreement to take over Maersk Tankers’ technical management business. This will strengthen Synergy Group’s position within technical management, and Maersk Tankers will become a service company focused on commercial management.

Synergy Marine, a subsidiary of Synergy Group, has signed an agreement to take over Maersk Tankers’ technical management business. This will strengthen Synergy Group’s position within technical management, and Maersk Tankers will become a service company focused on commercial management.

“Maersk Tankers has been transformed from a traditional tanker company into a service company over the past few years. The agreement with Synergy Group marks the next big step on our strategic course, offering both the technical and commercial businesses optimum conditions in which to thrive. Maersk Tankers will become a service company focused on the commercial management market, delivering financially and environmentally viable solutions for shipowners,” said Christian M. Ingerslev, CEO of Maersk Tankers.

The technical management business, which has been part of Maersk Tankers since 1928, maintains vessels to ensure their safe, efficient and cost-competitive operation. It employs close to 3,300 people, of which 140 work onshore. Synergy Group, a leading ship manager founded in 2006 and with 14,000 seafarers and more than 1,000 shore-based employees, has been carefully chosen as the new owner to grow and develop the technical management business.

“At Synergy, we have always strived to provide high-quality services to our ship-owning partners. Being considered the right owner of Maersk Tankers’ technical management business is testament to our beliefs and philosophy of working towards creating a platform for high-quality and technically adept services. The crew’s well-being is paramount, and we are committed to providing sustainably responsible services,” said Captain Rajesh Unni, founder and CEO of Synergy Group.

Under the agreement, Synergy Group will take over the entire technical management business of Maersk Tankers. This includes customer and supplier contracts, as well as the technical management of 82 vessels, including the vessels in Maersk Product Tankers. More vessels mean access to more data, which Synergy Group will use to optimise vessel performance and reduce the environmental impact of shipping.

The vast majority of the employees in Maersk Tankers’ technical management business will become part of the Synergy Group, which will strengthen the company’s presence in Denmark, Singapore and India. Following the takeover, the two companies will work together on the management of the vessels in Maersk Product Tankers.

The takeover is expected to be completed during November 2021.

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Maersk Tanker’s hands technical management to Synergy


Lloyd’s Register (LR) has acquired GreenSteam, a marine data intelligence company specialising in improving vessel efficiency through machine learning.  The acquisition will be integrated and managed by i4 Insight, a subsidiary of Lloyd’s Register.

Lloyd’s Register (LR) has acquired GreenSteam, a marine data intelligence company specialising in improving vessel efficiency through machine learning.  The acquisition will be integrated and managed by i4 Insight, a subsidiary of Lloyd’s Register.

i4 Insight, part of LR’s Maritime Performance Services business, is a digital platform that allows shipowners, operators and charterers to easily access insights on vessel performance and fuel consumption across their fleets.  LR is expanding its portfolio of risk, technical advisory, commercial efficiency, vessel performance and voyage optimisation services to unlock and drive growth for clients, part of its strategy to become the go-to partner and advisor to the maritime industry and broader ocean economy, following the June 2021 divestment of its Business Assurance and Inspection Services division.

The acquisition will see GreenSteam’s vast array of machine learning services, from fouling analysis and trim planning to their dynamic trim and speed optimisers, fully integrated with the i4 Insight platform. This move expands on LR’s vision of solving complex problems with integrated software solutions further driving reductions in greenhouse gas emissions and operating costs.

Nick Brown, LR CEO, said, “We want to help clients drive growth and solve complex problems through human expertise, integrated software solutions and the right insights from data. When certainty is scarce, a trusted advisor is vital, which is why Lloyd’s Register is expanding its portfolio of fleet management and fleet optimisation services. Our i4 Insight platform, now enhanced with the acquisition of GreenSteam, will enable our customers to optimise their operational efficiency and vessel performance, making their businesses more sustainable in an increasingly competitive world.”

Shaun Gray, Executive Chairman of GreenSteam, said, “Our experience with i4 Insight as one of its inaugural Alliance Partners is positive proof that this acquisition is the right thing for our company.  Lloyd’s Register is an ambitious organisation with a long history in shipping and outstanding relationships with its customers. This, combined with i4 Insight’s innovative spirit to give the shipping industry the tools to make truly informed decisions about fuel consumption, is a win-win.  Together we will support shipowners in optimising vessel operations while also delivering on emissions targets.”

Joel Meltzner, Chief Executive Officer of i4 Insight, said, “GreenSteam is a leader in vessel-based machine learning for hull and improved vessel performance and as a current i4 Insight alliance partner, it has already enhanced the digital capabilities of the platform. GreenSteam was one of the first companies to apply machine learning to vessel performance data and its system can analyse data from thousands of vessels, continually learning, adapting, and updating what it knows about each vessel. The acquisition of GreenSteam supports our aim to provide our customers with a single source of information to solve key operational challenges and make significant operational cost savings.”

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GreenSteam acquired by Lloyd’s Register


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