Blogs

London-Based Global Ship Lease Sealed An Agreement With Borealis Finance For Taking Possession Of 12 Container Vessels Global Ship Lease (commonly known as GSL) has earned a good reputation in the maritime arena by being a major, independent owner of container vessels that is in charge of supervising a versatile fleet of mid-sized and small-sized vessels. Global Ship Lease focuses on chartering container vessels of varying sizes under fixed-rate charters to container shipping organizations across the globe. According to recent reports, London-based Global Ship Lease has signed a contract with Borealis Finance for acquiring 12 container vessels for an approved budget of $233.9 million. The 12 container vessels have an average age of 11 years and an average size of 3,000 teu and are scheduled to be delivered during the third quarter of 2021. The new additions will enhance Global Ship Lease’s existing fleet to a total 62 containerships with a total of 322,770 teu. Throwing light on this acquisition, the Executive Chairman of GSL is confident that the new container vessels will provide numerous benefits in boosting the company’s exposure to the workhorse feeder as well as handy-sized segments. Norway-Based Crown LNG Has Given The Green Signal For The Construction Of A LNG Terminal Offshore At Kakinada Port Hailing from Norway, Crown LNG has initiated the development of an offshore LNG terminal at Kakinada port, which is located along the eastern coast of India. The upcoming project is likely to start from 2025 and the liquefied natural gas terminal will incorporate a capacity of 7.2 million tons per annum. Crown LNG is hopeful of confirming the deal very soon and will be announcing the construction, engineering, key subcontractors, installation, procurement and commissioning contractors offshore terminal related to the new LNG terminal. The best part is that the LNG terminal will be constructed as a gravity-based structure that will work around the clock for 365 days a year, even during the rough weather conditions of the monsoon season in our country. Plus, the brand-new terminal will go a long way in reducing the congestion at the busy port and removing toxic substances from the populated regions. Adani Group Extends Help And Delivers Three Oxygen Containers To The Ernakulam District Administration In The Wake Of The Coronavirus Pandemic The COVID 19 pandemic continues to wreak havoc across India as the second wave has left the citizens in a state of chaos and despair while gasping for oxygen. The shortage of oxygen supply at the beginning of the destructive second wave has resulted in a confused state of affairs that involved a constant scenario of panic. Lending a helping hand to improve the grief-stricken situation in the country, Adani Group has successfully delivered three oxygen containers to the Ernakulam district administration in Kerala to extend its well-equipped services in the nation’s fight against the deadly coronavirus. Each of the oxygen containers are carefully designed to accommodate 20 metric tons of oxygen and will make sure that the medical oxygen will be immediately transferred to the local hospitals as an emergency measure. Jawaharlal Nehru Port Trust Experiences A Steady Boom In Container Handling Despite The Tough Pandemic Scenario The renowned container port in India, Jawaharlal Nehru Port Trust or JNPT has surpassed expectations by witnessing a steady surge in container handling numbers in spite of the problems put forward by the COVID 19 scenario across the nation. The port has implemented advanced, meticulous measures to tackle the unfavourable conditions and continue trade operations to make way for an efficient, cost-friendly solution for the EXIM community. As the fight against the coronavirus pandemic rages in the country, JNPT has supervised the expert handling of 327.632 MT of liquid medical oxygen along with medical accessories in the month of May. Norway Prepares For The Construction Of The First Electric Zero-Emission Fast Ferry In The World Norway has finally decided to launch the world’s first electric zero-emission fast ferry that will start its operations in the spring of 2022. The launch of the first three ferries will serve as demonstration models to boost the project’s aim to actively cut down the related investment costs and overall delivery time in order to facilitate sustainable inshore passenger transportation in the near future. Sources: https://splash247.com/global-ship-lease-acquire-12-boxships-from-borealis/ https://www.maritimegateway.com/crown-lng-to-develop-lng-terminal-offshore-kakinada/ https://www.maritimegateway.com/adani-group-delivers-three-oxygen-containers-in-kerala/ https://www.maritimegateway.com/jnpt-witnesses-steady-surge-in-container-handling-in-may/ https://maritime-executive.com/article/norway-builds-world-s-first-electric-zero-emission-fast-ferry