CIT Equpment Finance

Danish tanker owner and operator Maersk Tankers is set to add 11 ships to its managed fleet in a deal with BP Shipping and ICBC Financial Leasing.Under the terms of the agreement, Maersk Tankers will take each vessel from the owner under a bare-boat charter arrangement, which it will then hire out to BP under a time charter deal for a period of three years. Therefore, Maersk Tankers will assume full responsibility for operational risks and the technical management of the vessels.“We are excited to enter into this agreement and are honored that two industry leaders have selected us as a trusted partner.

Boriana Farrar is a familiar face in maritime circles, the Vice President and Counsel and a Senior Claims Executive and Business Development Director for the Americas at the Ship Owners Claims Bureau, Inc. managers of the American P&I Club. We met with her in her NYC office to discuss her path from her native Bulgaria to a top maritime professional position.When Boriana Farrar moved from her native Bulgaria to the United States in 2001, she did so to be close to family, her mother and her sister who had already established a life in the U.S., some 5,000 miles from her homeland. At the time, a career in maritime was the furthest thing from her mind.

Japanese shipping giant Mitsui O.S.K. Lines (MOL) and its subsidiary Ferry Sunflower Limited have unveiled plans to construct Japan’s first two LNG-fueled ferries.Mitsubishi Shipbuilding will receive the order for the newbuild ferries that are designated to serve the Japanese market.Ferry Sunflower will charter the ferries after delivery and launch them on its Osaka-Beppu route from the end of 2022 through the first half of 2023, as replacements for vessels currently in service.The ferries will be equipped with high-performance dual fuel engines  and will provide passengers with comfortable accommodations and reliable schedules.

Dry bulk carrier owner and operator Oldendorff Carriers has signed a research agreement with the Massachusetts Institute of Technology's (MIT) Center for Bits and Atoms (CBA) to make its vessels more green and economical.Oldendorff, together with CBA and its campus collaborators including MIT's Sea Grant Program, will investigate disruptive improvements in ship design and propulsion to achieve the IMO 2030/50 requirements.The initial emphasis will be directed at improving hydrodynamic efficiency, which builds on work CBA has been doing with the aerospace and automotive industries. This looks beyond traditional naval architecture to a deeper integration of form and function.

A tugboat is partially sunk and leaking diesel after alliding with a bridge in North Carolina's Oregon Inlet, the U.S. Coast Guard said.All eight people aboard the tug Miss Bonnie reached shore safely without injury after the vessel struck the Old Bonner Bridge at 11:09 a.m. on Sunday.The Coast Guard said its watchstanders at Coast Guard Sector North Carolina received report from a local Coast Guard 47-foot Motor Life Boat crew at approximately 10:00 a.m. on Monday that a sheen was coming from the semi-submerged tug.The maximum potential for the discharge is 6,000 gallons; however, it is estimated 3,000 gallons were on board.