ANNUAL REPORT 2016 Corporate Profile
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International Seaways Inc
International Seaways, Inc. Third Quarter 2020 Earnings Presentation November 6, 2020 Disclaimer Forward-Looking Statements During the course of this presentation, the Company (International Seaways, Inc. (INSW)) may make forward-looking statements or provide forward-looking information. All statements other than statements of historical facts should be considered forward-looking statements. Some of these statements include words such as ‘‘outlook,’’ ‘‘believe,’’ ‘‘expect,’’ ‘‘potential,’’ ‘‘continue,’’ ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘could,’’ ‘‘seek,’’ ‘‘predict,’’ ‘‘intend,’’ ‘‘plan,’’ ‘‘estimate,’’ ‘‘anticipate,’’ ‘‘target,’’ ‘‘project,’’ ‘‘forecast,’’ ‘‘shall,’’ ‘‘contemplate’’ or the negative version of those words or other comparable words. Although they reflect INSW’s current expectations, these statements are not guarantees of future performance, but involve a number of risks, uncertainties, and assumptions which are difficult to predict. Some of the factors that may cause actual outcomes and results to differ materially from those expressed in, or implied by, the forward-looking statements include, but are not necessarily limited to, vessel acquisitions, general economic conditions, competitive pressures, the nature of the Company’s services and their price movements, and the ability to retain key employees. The Company does not undertake to update any forward-looking statements as a result of future developments, new information or otherwise. Non-GAAP Financial Measures Included in this presentation are certain non-GAAP financial measures, including Time Charter Equivalent (“TCE”) revenue, EBITDA, Adjusted EBITDA, and total leverage ratios, designed to complement the financial information presented in accordance with generally accepted accounting principles in the United States of America because management believes such measures are useful to investors. TCE revenues, which represents shipping revenues less voyage expenses, is a measure to compare revenue generated from a voyage charter to revenue generated from a time charter. -
In This Issue …
In This Issue … INLAND SEAS®VOLUME 72 WINTER 2016 NUMBER 4 MAUMEE VALLEY COMES HOME . 290 by Christopher H. Gillcrist KEEPING IT IN TRIM: BALLAST AND GREAT LAKES SHIPPING . 292 by Matthew Daley, Grand Valley State University Jeffrey L. Ram, Wayne State University RUNNING OUT OF STEAM, NOTES AND OBSERVATIONS FROM THE SS HERBERT C. JACKSON . 319 by Patrick D. Lapinski NATIONAL RECREATION AREAS AND THE CREATION OF PICTURED ROCKS NATIONAL LAKESHORE . 344 by Kathy S. Mason BOOKS . 354 GREAT LAKES NEWS . 356 by Greg Rudnick MUSEUM COLUMN . 374 by Carrie Sowden 289 KEEPING IT IN TRIM: BALLAST AND GREAT LAKES SHIPPING by Matthew Daley, Grand Valley State University Jeffrey L. Ram, Wayne State University n the morning of July 24, 1915, hundreds of employees of the West- Oern Electric Company and their families boarded the passenger steamship Eastland for a day trip to Michigan City, Indiana. Built in 1903, this twin screw, steel hulled steamship was considered a fast boat on her regular run. Yet throughout her service life, her design revealed a series of problems with stability. Additionally, changes such as more lifeboats in the aftermath of the Titanic disaster, repositioning of engines, and alterations to her upper cabins, made these built-in issues far worse. These failings would come to a disastrous head at the dock on the Chicago River. With over 2,500 passengers aboard, the ship heeled back and forth as the chief engineer struggled to control the ship’s stability and failed. At 7:30 a.m., the Eastland heeled to port, coming to rest on the river bottom, trapping pas- sengers inside the hull and throwing many more into the river. -
The Impact of the New Panama Canal on Cost-Savings in the Shipping Industry
the International Journal Volume 13 on Marine Navigation Number 3 http://www.transnav.eu and Safety of Sea Transportation September 2019 DOI: 10.12716/1001.13.03.07 The Impact of the New Panama Canal on Cost-savings in the Shipping Industry D. Zupanovic, L. Grbic & M. Baric University of Zadar, Zadar, Croatia ABSTRACT: The passage through the Panama Canal has become the usual waterway for all the ships that can navigate through the Canal. The traffic through the canal is limited by the size of a ship. The need for the expansion of the Canal has emerged due to the development of the global trade and the shipping industry. The new dimensions of the lock‐chambers determine the size of the ships as well. The new generation of ships built to the largest specifications possible to transit the current locks of the canal are called the Post‐Panamax vessels. The maximum dimensions of these ships are 366 meters in length, 49 meters in beam and 15.2 metres in draught. The paper analyses savings in the operational costs on three types of the Post‐Panamax vessels after the Canal expansion. 1 INTRODUCTION The construction of the new and expanded canal enabled the passage of the Post‐Panamax ships. The The construction of the Canal, which lasted for 34 navigation of this category became a standard in the years, introduced the shorter and more efficient route maritime industry and proved the Canal to be of great between the east and west coasts of the United States importance to the world shipping. -
Panamax - Wikipedia 4/20/20, 10 18 AM
Panamax - Wikipedia 4/20/20, 1018 AM Panamax Panamax and New Panamax (or Neopanamax) are terms for the size limits for ships travelling through the Panama Canal. General characteristics The limits and requirements are published by the Panama Canal Panamax Authority (ACP) in a publication titled "Vessel Requirements".[1] Tonnage: 52,500 DWT These requirements also describe topics like exceptional dry Length: 289.56 m (950 ft) seasonal limits, propulsion, communications, and detailed ship design. Beam: 32.31 m (106 ft) Height: 57.91 m (190 ft) The allowable size is limited by the width and length of the available lock chambers, by the depth of water in the canal, and Draft: 12.04 m (39.5 ft) by the height of the Bridge of the Americas since that bridge's Capacity: 5,000 TEU construction. These dimensions give clear parameters for ships Notes: Opened 1914 destined to traverse the Panama Canal and have influenced the design of cargo ships, naval vessels, and passenger ships. General characteristics New Panamax specifications have been in effect since the opening of Panamax the canal in 1914. In 2009 the ACP published the New Panamax Tonnage: 120,000 DWT specification[2] which came into effect when the canal's third set of locks, larger than the original two, opened on 26 June 2016. Length: 366 m (1,201 ft) Ships that do not fall within the Panamax-sizes are called post- Beam: 51.25 m (168 ft) Panamax or super-Panamax. Height: 57.91 m (190 ft) The increasing prevalence of vessels of the maximum size is a Draft: 15.2 m (50 ft) problem for the canal, as a Panamax ship is a tight fit that Capacity: 13,000 TEU requires precise control of the vessel in the locks, possibly resulting in longer lock time, and requiring that these ships Notes: Opened 2016 transit in daylight. -
Weekly Market Report
GLENPOINTE CENTRE WEST, FIRST FLOOR, 500 FRANK W. BURR BOULEVARD TEANECK, NJ 07666 (201) 907-0009 September 24th 2021 / Week 38 THE VIEW FROM THE BRIDGE The Capesize chartering market is still moving up and leading the way for increased dry cargo rates across all segments. The Baltic Exchange Capesize 5TC opened the week at $53,240/day and closed out the week up $8,069 settling today at $61,309/day. The Fronthaul C9 to the Far East reached $81,775/day! Kamsarmaxes are also obtaining excellent numbers, reports of an 81,000 DWT unit obtaining $36,500/day for a trip via east coast South America with delivery in Singapore. Coal voyages from Indonesia and Australia to India are seeing $38,250/day levels and an 81,000 DWT vessel achieved $34,000/day for 4-6 months T/C. A 63,000 DWT Ultramax open Southeast Asia fixed 5-7 months in the low $40,000/day levels while a 56,000 DWT supramax fixed a trip from Turkey to West Africa at $52,000/day. An Ultramax fixed from the US Gulf to the far east in the low $50,000/day. The Handysize index BHSI rose all week and finished at a new yearly high of 1925 points. A 37,000 DWT handy fixed a trip from East coast South America with alumina to Norway for $37,000/day plus a 28,000 DWT handy fixed from Santos to Morocco with sugar at $34,000/day. A 35,000 DWT handy was fixed from Morocco to Bangladesh at $45,250/day and in the Mediterranean a 37,000 DWT handy booked a trip from Turkey to the US Gulf with an intended cargo of steels at $41,000/day. -
Panama Canal Expansion Impacts on Fleet Patterns and Challenges in Terminal Design Presented by Michael Horton, C
Panama Canal Expansion Impacts on Fleet Patterns and Challenges in Terminal Design Presented by Michael Horton, C. Eng, P.E. Agenda • Panama Canal Expansion, the Coming Fleet – Fleet Vessel size – Container Vessel Size • Design Criteria , Present & Future – Terminal Requirements for the Future – Options for Berth Construction • Challenges, Moving Forward – Time – Money • Conclusions The New Generation Source: ACP Ready or Not? In 1995 the Regina Maersk was big at 6,500 TEU – 5,800 trucks – 25 barges – 550 cargo planes Regina Maersk (1995) Now We Have the Emma Maersk at 11,000 or 13,000TEUs Emma Maersk (2006) But Still Not The Biggest Vessel On The Water Typical Maritime Transport Costs Source: Delft University, “Containerization International Charter Market Report”, Drewry Container Market Review 2006-2007. Container Ship Dimensions by Capacity (averages) Capacity Draft LOA Beam (TEUs) (m) (m) (m) 2,000-2,999 11.6 239 31.5 3,000-3,999 12.1 259 32.4 4,000-4,999 13.0 284 33.2 5,000-5,999 13.7 281 39.0 6,000-6,999 13.9 302 40.6 7,000-7,999 14.6 343 42.6 8,000-8,999 14.3 329 42.8 9,000-9,999 14.7 344 44.0 >10,000 15.5 398 56.4 Immediate Demand (ECSA carrier) • (2010) - 6,300 TEUS: – Length: 300 Meters – Beam: 40 Meters – Draft: 14.5 Meters – DWT: 76,000 • (2014) - 8,800 TEUS: – Length: 338 Meters – Beam: 46 Meters – Draft: 15.5 Meters – DWT: 116,000 Vessel Size: Conclusion • Panama Canal sets the new top end? • Vessel size will be a factor of route, market potential and facilities availability • With or without the Canal expansion, terminal -
IMARES Wageningen UR (IMARES - Institute for Marine Resources & Ecosystem Studies)
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Wageningen University & Research Publications Panama Canal Extension: A review on salt intrusion into Gatun Lake Jeroen Wijsman Report number C215/13 IMARES Wageningen UR (IMARES - Institute for Marine Resources & Ecosystem Studies) Client: Complaints Mechanism, European Investment Bank 98-100, bd. Konrad Adenauer L-2950 Luxembourg Publication date: December 2013 IMARES is: an independent, objective and authoritative institute that provides knowledge necessary for an integrated sustainable protection, exploitation and spatial use of the sea and coastal zones; an institute that provides knowledge necessary for an integrated sustainable protection, exploitation and spatial use of the sea and coastal zones; a key, proactive player in national and international marine networks (including ICES and EFARO). P.O. Box 68 P.O. Box 77 P.O. Box 57 P.O. Box 167 1970 AB IJmuiden 4400 AB Yerseke 1780 AB Den Helder 1790 AD Den Burg Texel Phone: +31 (0)317 48 09 00 Phone: +31 (0)317 48 09 00 Phone: +31 (0)317 48 09 00 Phone: +31 (0)317 48 09 00 Fax: +31 (0)317 48 73 26 Fax: +31 (0)317 48 73 59 Fax: +31 (0)223 63 06 87 Fax: +31 (0)317 48 73 62 E-Mail: [email protected] E-Mail: [email protected] E-Mail: [email protected] E-Mail: [email protected] www.imares.wur.nl www.imares.wur.nl www.imares.wur.nl www.imares.wur.nl © 2013 IMARES Wageningen UR IMARES, institute of Stichting DLO The Management of IMARES is not responsible for resulting is registered in the Dutch trade damage, as well as for damage resulting from the application of record nr. -
Assessment of Vessel Requirements for the U.S. Offshore Wind Sector
Assessment of Vessel Requirements for the U.S. Offshore Wind Sector Prepared for the Department of Energy as subtopic 5.2 of the U.S. Offshore Wind: Removing Market Barriers Grant Opportunity 24th September 2013 Disclaimer This Report is being disseminated by the Department of Energy. As such, the document was prepared in compliance with Section 515 of the Treasury and General Government Appropriations Act for Fiscal Year 2001 (Public Law 106-554) and information quality guidelines issued by the Department of Energy. Though this Report does not constitute “influential” information, as that term is defined in DOE’s information quality guidelines or the Office of Management and Budget's Information Quality Bulletin for Peer Review (Bulletin), the study was reviewed both internally and externally prior to publication. For purposes of external review, the study and this final Report benefited from the advice and comments of offshore wind industry stakeholders. A series of project-specific workshops at which study findings were presented for critical review included qualified representatives from private corporations, national laboratories, and universities. Acknowledgements Preparing a report of this scope represented a year-long effort with the assistance of many people from government, the consulting sector, the offshore wind industry and our own consortium members. We would like to thank our friends and colleagues at Navigant and Garrad Hassan for their collaboration and input into our thinking and modeling. We would especially like to thank the team at the National Renewable Energy Laboratory (NREL) who prepared many of the detailed, technical analyses which underpinned much of our own subsequent modeling. -
Synopsis Sheets CANAL DE PANAMA UK
Synopsis sheets Rivers of the World THE PANAMA CANAL Initiatives pour l’Avenir des Grands Fleuves The Panama Canal 80 km long, the Panama Canal links the Pacific and Atlantic Oceans, forming a faster transoceanic route for merchant shipping than by passing via Cape Horn, at the southernmost tip of South America. A strategic hub for the world’s maritime trade, 15,000 ships pass through it every year. In 2016, a huge project of Canal’s enlargement was completed to double its capacity and accommodate the new generation ships, larger and longer, the Post Panamax. Now it has to face new challenges: competing projects are emerging and new shipping routes can be opened that would reduce the supremacy of the Panama Canal. A strategic route The origins Océan Atlantique The first attempt to build the canal dates back to 1880. France entrusted Ferdinand de Lesseps with the responsibility of its design and amassed considerable funds. However, the technical difficulties and above all a major financial scandal revealed in 1889 led to the bankruptcy of the Compagnie Universelle du Canal Inter-océanique du Panamá. The new Panama Canal Company took over but met the same fate, and in 1903 the treaty of Hay- Bunau-Varilla officialised the transfer of the operating and building rights to the canal to the United States. Built under the direction of G.W. Goethals, at the head of the U.S. Army Corps of Engineers, the canal opened in 1914 and was finally handed over to Panama in 1999 by virtue of the Torrijos-Carter Treaty. -
PANAMAX CANAL EN ESTE NUMERO ~Lt, - * Consejo a Los Viajeros * Tiene Sus Altas Y Bajas 0 Divisi6n De Navegaci6n * Guarderia Infantil Rubert J
PANAMAX CANAL EN ESTE NUMERO ~lt, - * Consejo a los Viajeros * Tiene sus Altas y Bajas 0 Divisi6n de Navegaci6n * Guarderia Infantil RuBERT J. FLEMING, JR., Gobernador-Presidente JOSEPH CONNOR, Encargado de Prensa DAVID S. PARKER, Vicegobernador M Directores de Publicaciones: ROBERT D.KERR FRANK A. BALDWIN JuLio E. BRICENO y Jefe de la Oficina de Informaci6n - Redactores: En Espanol TOMAs A. CUPAs, EUNICE RICHARD y TOBI BITTEL Publicaci6n Oficial del Canal de Panamh Publicado Mensualmente en Balboa Heights, Z. del C. fimpreso en la Imprenta de Mount Hope, Zona del Canal Distribuido gratis a todos los empleados del Canal de Panama Subscripciones: $1 al afto; por envio postal y ediciones anteriores, 10 centavos el ejenplar. Los Giros Postales. pagaderos a la Compaflia del Canal de Panamni, deberin remitirse por correo al Apartado "M", Balboa Heights, Z. del C. Las Oficinas de Redacci6n estin situada, en el Edificio de Administraci6n. Balboa Heights. Z. del C. NUESTRA PORTADA: La vida es color de rosa tanto para los niios cuanto para los gatitos. La escena fue captada en la guarderia infantil organizada mediante los esfuerzos combinados de los moradores de Paraiso y Pedro Miguel, que constituye un ejemplo de lo que puede realizar el esfuerzo conjunto de una comunidad que no deja todo "a los otros." Estas actividades comuna- les denuncian on concepto de madurez civica digno de imitarse. Lea sobre esta guarderia infantil en las piginas 8 y 9. Lea tambi6n sobre la familia del Vicegobernador v sobre lo aconsejable para on viaje por tierra a M6xico v sobre la Divisi6n de Navegaci6n y muchos otros asuntos de inter6s que encontrari en nuestras pAginas. -
Panama Canal Expansion Project
Shipping Risk Management Briefing Panama Canal expansion project Allianz Global Corporate & Specialty Photo: Panama Canal Authority The Panama Canal’s impact on shipping routes and vessel sizes since it opened in 1914 is undisputed. This will continue with the opening of a third channel for larger vessels in 2016. This briefing examines the risk management impact of this expansion on the maritime industry. Why is the Panama Canal What will be the impact of larger vessels expansion significant? being able to transit the Canal? The Panama Canal’s $5.25bn expansion increases the maximum The Panama Canal Authority (ACP) estimates that the combined vessel capacity and enlarges the overall volume of transported freight. effect of 12 to 14 larger Panamax vessels per day (an average of Existing locks can handle ships up to 106 feet wide, 965 feet long, and approximately 4,750 ships a year) combined with continued smaller 39.5 feet of draft. The new locks will accommodate vessels up to 160 vessel transits will double capacity, increasing Canal throughput from feet wide, 1,200 feet long, and 50 feet deep. Container ship capacities 300m tons to 600m tons PCUMS (Panama Canal Universal Measuring will increase from 4,400 to about 13,000 teus. The new locks create a System).1 PCUMS is the basis upon which vessels are charged for third lane of traffic for larger “New Panamax” vessels. use of the Canal: one PCUMS ton is approximately 100 cubic feet of cargo space. A twenty foot long container (teu) is equivalent to “The expansion is significant because it impacts the size and frequency approximately 13 PCUMS tons. -
The Panama Canal 75Th Anniversary
Nr/ PANAMA CANAL U-i-^ ^^^^ ^w ^r"'-*- - • «:'• 1! --a""'"!' "lt#;"l ii^'?:^, ^ L«^ riS^x- <t^mi a^ «t29) TP f-« RUlUiWiiIiT?;!!ive AiDum -T'te. 1914-1989 ; PANAIVii^ CANAL COMMISSION i /; BALBOA, REPUBLIC OF PANA^4A ADMINISTRATOR DEJ>UTY ADMINISTRATOR DP. McAuliffe Fernando Manfredo, Jr. DIRECTOR OF PUBLIC AFFAIRS :: : Wniic K. Friar The preparation of this special publication by the Office of Public Affairs involved the efforts of many people. Deserving special mention arc the photo lab technicians of the Graphic Branch, the Printing Office, the ?W Technical Resources Center, the Language Services Branch, and the Office of Executive Planning. Photographs are by Arthur Pollack, Kevin Jenkins, Armando DeGracia and Don Goode, who also shot the photo of Miraflores Locks that appears on the cover. Kaye Richey created the 75th Anniversary slogan and adapted the album text from the work of Gil Williams and of Richard Wainio of the Office of Executive Planning. Melvin D. Kennedy, Jr., designed the album and served as photo editor. Jaime Gutierrez created the 75th Anniversary logo and did the album layout. James J. Reid and Jos6 S. Alegria Ch. of the Printing Office were invaluable in the layout and typesetting process. An Official publication of the Panama Canal Commission, April 1989 <«•-!*»'•* J-V-y I m epuTu Administrator on the 75th Anniversary of the Panasr '\ eventy-five years ago, the world hailed the monumental engineeriiip^^^?x'emi3nt of the V> century. The opening of the Panama Canal on August 15, 1914, fulfillecJ ih»; ccnturies-olH . .^gjWEFt^" dream of uniting the world's two great oceans and established a new li.'k 'n the v;orld .