UPDATE
KEPPEL AMFELS
DELIVERS FIRST OF LNG-FUELED PASHA PAIR
HAWAII-BASED PASHA HAWAII has
taken delivery of the M/V George III from Keppel O&M’s Brownsville, Texas, shipyard, Keppel AmFels The ship is the first of two new Ohana Class containerships to join Pasha Hawaii’s fleet, serving the Hawaii/Mainland trade lane. Designed by Keppel Marine & Deepwater Technology (KMDTech), Keppel O&M’s ship design and development arm, the Ohana Class vessels are named for George Pasha III and Janet Marie, the late parents of Pasha Group President and CEO George Pasha IV, marking three generations of service to Hawaii. Operating fully on natural gas from day
one, the new Jones Act vessel surpasses the International Maritime Organization (IMO) 2030 emission standards for ocean vessels. It is also the first IGF Code compliant vessel certified by the United States Coast Guard. Energy efficiencies are also achieved with a state-of-the-art MAN B&W 7S80ME-GI Mk 9.5 engine, an optimized hull form, and a high-efficiency rudder and propeller. “As we welcome the new M/V George III to the Pasha Hawaii fleet, we stand incredibly proud of the perseverance and commitment of our partners at Keppel AmFELS, and the skilled men and
women at the shipyard on this tremendous accomplishment,” said George Pasha, IV. “We look forward to beginning service to Hawaii in August and taking delivery of the Janet Marie later this year.” “We are pleased to deliver Pasha Hawaii’s first LNG-powered containership,” said David Wedgeworth, president of Keppel AmFELS. “By working closely with Pasha Hawaii, we were able to resolve operational challenges posed by COVID-19 and deliver the vessel to their satisfaction. Built to Keppel O&M’s proprietary design, M/V George III exemplifies our engineering and design expertise as well as our in-depth experience in LNG.”
IF YOU’RE LOOKING TO BUY A USED TUGBOAT RIGHT NOW, you will likely
have to look a lot harder than you would have last year. Coupeville, Wash.-based shipbroker Marcon International has released its latest May 2022 Tug Boat Market Report, with data from the firm’s extensive databases on tugs for sale in the U.S. and worldwide. As of May this year, Marcon reported 409 tugs officially on the market for sale out of 5,198 tracked. This is down 13.89% from one year ago and 31.03% from five years ago. Marcon has closed ten sales to date in 2022 and 10 Marine Log // August 2022
says it has several additional sales pending. “Activity has nearly doubled compared to 2021 (our worst year ever) and it seems we have finally broken out of the COVID19 overhang,” says Marcon. “Operating tugs and barges are in short supply both in the U.S. and international market. Across the age spectrum, the lack of inventory on the second-hand market is our biggest challenge as brokers. The rise in diesel prices has refocused buyers on fuel efficiency, creating greater demand for lower BHP ‘right-sized’ tugs.” “Gone are the days of buying or
chartering a 6,000 BHP tug to do a job that a 4,000 BHP tug can do,” says Marcon. “Inflation in general has driven up prices to maintain and reactivate tugs and barges, driving the prices of units with current certificates higher. We have also seen several examples of engine and other part shortages, pushing some buyers away from taking on laid-up vessels. Higher oil prices have driven marginal demand for offshore towing and barges, hitting an already tight market. Anticipation of wind projects has several owners holding onto various currently under-utilized tugs and barges.”
Photo Credit: Pasha Hawaii
Why used tugboats are getting hard to find
