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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. -
Malacca-Max the Ul Timate Container Carrier
MALACCA-MAX THE UL TIMATE CONTAINER CARRIER Design innovation in container shipping 2443 625 8 Bibliotheek TU Delft . IIIII I IIII III III II II III 1111 I I11111 C 0003815611 DELFT MARINE TECHNOLOGY SERIES 1 . Analysis of the Containership Charter Market 1983-1992 2 . Innovation in Forest Products Shipping 3. Innovation in Shortsea Shipping: Self-Ioading and Unloading Ship systems 4. Nederlandse Maritieme Sektor: Economische Structuur en Betekenis 5. Innovation in Chemical Shipping: Port and Slops Management 6. Multimodal Shortsea shipping 7. De Toekomst van de Nederlandse Zeevaartsector: Economische Impact Studie (EIS) en Beleidsanalyse 8. Innovatie in de Containerbinnenvaart: Geautomatiseerd Overslagsysteem 9. Analysis of the Panamax bulk Carrier Charter Market 1989-1994: In relation to the Design Characteristics 10. Analysis of the Competitive Position of Short Sea Shipping: Development of Policy Measures 11. Design Innovation in Shipping 12. Shipping 13. Shipping Industry Structure 14. Malacca-max: The Ultimate Container Carrier For more information about these publications, see : http://www-mt.wbmt.tudelft.nl/rederijkunde/index.htm MALACCA-MAX THE ULTIMATE CONTAINER CARRIER Niko Wijnolst Marco Scholtens Frans Waals DELFT UNIVERSITY PRESS 1999 Published and distributed by: Delft University Press P.O. Box 98 2600 MG Delft The Netherlands Tel: +31-15-2783254 Fax: +31-15-2781661 E-mail: [email protected] CIP-DATA KONINKLIJKE BIBLIOTHEEK, Tp1X Niko Wijnolst, Marco Scholtens, Frans Waals Shipping Industry Structure/Wijnolst, N.; Scholtens, M; Waals, F.A .J . Delft: Delft University Press. - 111. Lit. ISBN 90-407-1947-0 NUGI834 Keywords: Container ship, Design innovation, Suez Canal Copyright <tl 1999 by N. Wijnolst, M . -
Trends in Bulkcarrier Market & Port Activity.Pptx
If necessary change logos on covers/ chapter dividers and in the footer. Dedicated logos are available in the template tool at the end of the list Trends In Bulkcarrier If you want to update Title and Subtitle in the Market & Port Activity footer, go to View tab → Slide Master Presentation to the International and change it on Dry Bulk Terminals Group first slide in the left pane 11 April 2019, Barcelona Trevor Crowe, Director, Date format: Day, month and year Clarksons Research e.g. 30 June 2018 Ref: A4036b Agenda Trends In Bulkcarrier Market & Port Activity 1. Introduction to the Clarksons group, Clarksons Research and Sea/net 2. Global Dry Bulk Port Activity – Looking At The Big Picture 3. Profiles & Case Studies - Drilling Down For Port Intelligence 4. Summary Trends In Bulkcarrier Market & Port Activity | International Dry Bulk Terminals Group, 11 April 2019 2 EnablingThe Clarksons Global Group Trade Clarksons is the 167 YEARS world’s leading provider 48 OFFICES of integrated shipping services IN 22 COUNTRIES FTSE 250 Our intelligence adds value by 15+ YEARS enabling clients to make more INCREASING DIVIDENDS efficient and informed decisions to achieve their business objectives 24/7 5,000+ INTERNATIONAL CLIENTS Trends In Bulkcarrier Market & Port Activity | International Dry Bulk Terminals Group, 11 April 2019 Clarksons Research Market leader, excellent brand, >120 staff globally, broad and diverse product range and client base OFFSHORE AND ENERGY SHIPPING AND TRADE The leading provider offshore Market leaders in timely and data for more than 30 years. authoritative information on all Providing clients with the key aspects of shipping. -
International Convention on Tonnage Measurement of Ships, 1969
No. 21264 MULTILATERAL International Convention on tonnage measurement of ships, 1969 (with annexes, official translations of the Convention in the Russian and Spanish languages and Final Act of the Conference). Concluded at London on 23 June 1969 Authentic texts: English and French. Authentic texts of the Final Act: English, French, Russian and Spanish. Registered by the International Maritime Organization on 28 September 1982. MULTILAT RAL Convention internationale de 1969 sur le jaugeage des navires (avec annexes, traductions officielles de la Convention en russe et en espagnol et Acte final de la Conf rence). Conclue Londres le 23 juin 1969 Textes authentiques : anglais et fran ais. Textes authentiques de l©Acte final: anglais, fran ais, russe et espagnol. Enregistr e par l©Organisation maritime internationale le 28 septembre 1982. Vol. 1291, 1-21264 4_____ United Nations — Treaty Series Nations Unies — Recueil des TVait s 1982 INTERNATIONAL CONVENTION © ON TONNAGE MEASURE MENT OF SHIPS, 1969 The Contracting Governments, Desiring to establish uniform principles and rules with respect to the determination of tonnage of ships engaged on international voyages; Considering that this end may best be achieved by the conclusion of a Convention; Have agreed as follows: Article 1. GENERAL OBLIGATION UNDER THE CONVENTION The Contracting Governments undertake to give effect to the provisions of the present Convention and the annexes hereto which shall constitute an integral part of the present Convention. Every reference to the present Convention constitutes at the same time a reference to the annexes. Article 2. DEFINITIONS For the purpose of the present Convention, unless expressly provided otherwise: (1) "Regulations" means the Regulations annexed to the present Convention; (2) "Administration" means the Government of the State whose flag the ship is flying; (3) "International voyage" means a sea voyage from a country to which the present Convention applies to a port outside such country, or conversely. -
Potential for Terrorist Nuclear Attack Using Oil Tankers
Order Code RS21997 December 7, 2004 CRS Report for Congress Received through the CRS Web Port and Maritime Security: Potential for Terrorist Nuclear Attack Using Oil Tankers Jonathan Medalia Specialist in National Defense Foreign Affairs, Defense, and Trade Division Summary While much attention has been focused on threats to maritime security posed by cargo container ships, terrorists could also attempt to use oil tankers to stage an attack. If they were able to place an atomic bomb in a tanker and detonate it in a U.S. port, they would cause massive destruction and might halt crude oil shipments worldwide for some time. Detecting a bomb in a tanker would be difficult. Congress may consider various options to address this threat. This report will be updated as needed. Introduction The terrorist attacks of September 11, 2001, heightened interest in port and maritime security.1 Much of this interest has focused on cargo container ships because of concern that terrorists could use containers to transport weapons into the United States, yet only a small fraction of the millions of cargo containers entering the country each year is inspected. Some observers fear that a container-borne atomic bomb detonated in a U.S. port could wreak economic as well as physical havoc. Robert Bonner, the head of Customs and Border Protection (CBP) within the Department of Homeland Security (DHS), has argued that such an attack would lead to a halt to container traffic worldwide for some time, bringing the world economy to its knees. Stephen Flynn, a retired Coast Guard commander and an expert on maritime security at the Council on Foreign Relations, holds a similar view.2 While container ships accounted for 30.5% of vessel calls to U.S. -
Panama-Canal-Daily-Information
Good Day, A. Panama Canal Authority Notices& Advisories to Shipping Latest Advisory: A-56-2016 Requirements for Panamax Vessels when Transiting the Neopanamax Locks Latest Advisory: A-55-2016 Maximum Allowable Draft for Vessels Transiting the Neopanamax Locks Latest Advisory: A-54-2016 Suspension of Water Conservation Measures Latest Advisory: A-53-2016 Changes in Booking Date due to Availability of Additional Slots for Neopanamax Vessels Latest Advisory: A-52-2016 Monthly Canal Operations Summary SEPTEMBER – 2016 Latest Advisory: A-51-2016 Increase in Number of Booking Slots for Neopanamax Vessels Latest Advisory: A-50-2016 Pilot Portable Units for Newpanamax Vessels Latest Advisory: A-48-2016 Panama Canal Locks Lane Outage and the Transit Reservation System Latest Advisory: A-47-2016 Monthly Canal Operations Summary AUGUST 2016 – Latest Advisory: A-46-2016 Information on Escort Tug Requirements for Neopanamax Latest Advisory: A-45-2016 Change in the Effective Date for Booking of Neopanamax Passenger Vessels Latest Advisory: A-44-2016 Panama Canal Locks Lane Outage and the Transit Reservation System Latest Advisory: A-42-2016 Monthly Canal Operations Summary JULY 2016 – Latest Advisory: A-41-2016 Maximum Draft Update Neopanamax Locks Latest Advisory: A-40-2016 New buoys placed at the Atlantic Entrance to the Panama Canal Latest Advisory: A-36-2016 Modification to Minimum Visibility Requirements Latest Advisory: A-35-2016 Tariffs for Tug and Linehandler Services for Neopanamax Locks B. Present Waiting times for non-booked vessels Northbound Southbound Supers (91' in beam & over) 3 days 3 days Regulars (less than 91' beam) 3 days 3 days Please remember that the PCA offers the booking / auction system as an alternative to avoid delays and / or reserve a slot on a desire date, just please bear in mind that spaces are limited and in high demand which makes them difficult to obtain a slot if the customers are not regular Canal users. -
International Convention on Tonnage Measurement of Ships, 1969
Page 1 of 47 Lloyd’s Register Rulefinder 2005 – Version 9.4 Tonnage - International Convention on Tonnage Measurement of Ships, 1969 Tonnage - International Convention on Tonnage Measurement of Ships, 1969 Copyright 2005 Lloyd's Register or International Maritime Organization. All rights reserved. Lloyd's Register, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as the 'Lloyd's Register Group'. The Lloyd's Register Group assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or howsoever provided, unless that person has signed a contract with the relevant Lloyd's Register Group entity for the provision of this information or advice and in that case any responsibility or liability is exclusively on the terms and conditions set out in that contract. file://C:\Documents and Settings\M.Ventura\Local Settings\Temp\~hh4CFD.htm 2009-09-22 Page 2 of 47 Lloyd’s Register Rulefinder 2005 – Version 9.4 Tonnage - International Convention on Tonnage Measurement of Ships, 1969 - Articles of the International Convention on Tonnage Measurement of Ships Articles of the International Convention on Tonnage Measurement of Ships Copyright 2005 Lloyd's Register or International Maritime Organization. All rights reserved. Lloyd's Register, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as the 'Lloyd's Register Group'. The Lloyd's Register Group assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or howsoever provided, unless that person has signed a contract with the relevant Lloyd's Register Group entity for the provision of this information or advice and in that case any responsibility or liability is exclusively on the terms and conditions set out in that contract. -
Procedures for Securing a Handline Transitof the Panama Canal
AUTORIDAD DEL CANAL DE PANAMÁ 4352‐I (NTOT‐A) Rev. 1‐1‐2020 PROCEDURES FOR SECURING A HANDLINE TRANSITOF THE PANAMA CANAL Small craft are vessels up to 38.1 meters (125 feet) in length overall, which normally transits the Canal as handlines, and do not use locomotives in the locks. Handlines under 20 meters (65 feet) in length overall will normally transit the Canal with a transit advisor; while handlines of 20 meters (65 feet) or more will normally require a pilot. The following are guidelines for yacht and other handlines interested in transiting the Panama Canal: 1. GUIDELINES FOR TRANSITING HANDLINES UNDER 125 FEET a. Before Arrival: All information required for transiting the Panama Canal must be submitted utilizing the Maritime Service Portal, at least 96 hours prior to arrival at Panama Canal waters. Since many small craft do not have a computer on board, the Admeasurement Office (Atlantic and Pacific), is available for assistance to collect all the information necessary to be introduced so it can be assigned an estimated time of arrival to the small craft, which allows to be inspected and subsequently be able to perform the transit. For more details, please read in our web‐ page http://www.pancanal.com/eng/ maritime/advisories/index.html all the advisories relating to the Maritime Service Portal. b. Arrival: Upon arrival at the Balboa Anchorage or Cristobal Breakwater, the vessel must contact the appropriate Signal Station announcing its arrival and requesting anchoring instructions. The Signal Station will direct the vessel to the anchorage and give any operational restrictions that may be in effect. -
ANNUAL REPORT 2016 Corporate Profile
ANNUAL REPORT 2016 Corporate Profile Diana Shipping Inc. (NYSE: DSX) is a global provider of shipping transportation services. We specialize in the ownership of dry bulk vessels. As of April 28, 2017 our fleet consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). The Company also expects to take delivery of one Post-Panamax dry bulk vessel by the middle of May 2017, one Post-Panamax dry bulk vessel by the middle of June 2017 as well as one Kamsarmax dry bulk vessel by the middle of June 2017. As of the same date, the combined carrying capacity of our fleet, excluding the three vessels not yet delivered, is approximately 5.7 million dwt with a weighted average age of 7.91 years. Our fleet is managed by our wholly-owned subsidiary Diana Shipping Services S.A. and our established 50/50 joint venture with Wilhelmsen Ship Management named Diana Wilhelmsen Management Limited in Cyprus. Diana Shipping Inc. also owns approximately 25.7% of the issued and outstanding shares of Diana Containerships Inc. (NASDAQ: DCIX), a global provider of shipping transportation services through its ownership of containerships, that currently owns and operates twelve container vessels (6 Post-Panamax and 6 Panamax). Among the distinguishing strengths that we believe provide us with a competitive advantage in the dry bulk shipping industry are the following: > We own a modern, high quality fleet of dry bulk carriers. > Our fleet includes groups of sister ships, providing operational and scheduling flexibility, as well as cost efficiencies. -
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. -
Project JYP-1104 SALT INTRUSION in GATUN LAKE a Major Qualifying
Project JYP-1104 SALT INTRUSION IN GATUN LAKE A Major Qualifying Project submitted to the Faculty of WORCESTER POLYTECHNIC INSTITUTE in partial fulfillment of the requirements for the Degree of Bachelor of Science By Assel Akhmetova Cristina Crespo Edwin Muñiz March 11, 2012 Jeanine D. Plummer, Major Advisor Associate Professor, Civil and Environmental Engineering 1. Gatun Lake 2. Salt Intrusion 3. Panama Canal Abstract The expansion of the Panama Canal is adding another lock lane to the canal, allowing passage of larger ships. Increases in the number of transits and the size of the locks may displace more salt from the oceans into the freshwater lake, Gatun Lake, which is a drinking water source for Panama City. This project evaluated future salinity levels in Gatun Lake. Water quality and hydrometeorological data were input into a predictive hydrodynamic software package to project salinity levels in the lake after the new lock system is completed. Modeling results showed that salinity levels are expected to remain in the freshwater range. In the event that the lake becomes brackish, the team designed a water treatment plant using electrodialysis reversal for salt removal and UV light disinfection. ii Executive Summary The Panama Canal runs from the Pacific Ocean in the southeast to the Atlantic Ocean in the northwest over a watershed area containing the freshwater lake, Gatun Lake. The canal facilitates the transit of 36 ships daily using three sets of locks, which displace large volumes of water into and out of Gatun Lake. The displacement of water has the potential to cause salt intrusion into the freshwater Gatun Lake.